The most frequently asked questions about Bank of America are whether it is possible to withdraw $5000, what is the overdraft limit or the time of the direct deposit. However, the Bank of America Cash Rewards Card is a fantastic benefit.
With this card, cardholders can earn cash back on every purchase, as well as enjoy other exclusive advantages and benefits.
Get to know the main features of the Bank of America Cash Rewards Card
The Bank of America Cash Rewards card offers various benefits that make it attractive to consumers. The card’s mission is to reward the loyalty of all customers who prefer Bank of America. There are multiple features that make it unique, among the most striking are:
Percentages earned on purchases
Cardholders can earn 1% on all purchases, 2% on grocery purchases and 3% on gasoline purchases. These rewards accumulate automatically and can be redeemed for cash or deposited directly into a Bank of America account.
No annual fee!
A significant advantage of the Bank of America Cash Rewards card is that it has no annual fee. This means cardholders can enjoy the benefits and rewards without incurring additional costs.
New Cardholder
Promotions Bank of America often offers an introductory promotion for new Cash Rewards cardholders. This may include additional rewards or a low interest rate for a set period of time.
Fraud Protection
Bank of America offers fraud protection on all Cash Rewards Card transactions. This will give you the added peace of mind knowing that you are protected against any unauthorized transactions.
Travel Assistance Services
Cash Rewards cardholders can also access much travel assistance services, such as replacement of lost or stolen tickets, reimbursement for flight delays and 24-hour assistance in case of travel emergencies.
Discounts and many offers
You also have access to discounts and special offers in various categories such as travel, entertainment and online shopping. These exclusive discounts and offers can help you save even more money.
The best ways to get more out of rewards
You’ve already learned about most of the benefits you get when you purchase the cash Rewards credit card, but there are a few ways you can achieve better benefits by using it properly.
| The best tips | |
| Use your cash rewards card to accumulate more points | Pay the total balance of monthly debt to avoid accumulating interest and have more gifts. |
| Use your rewards to make them more valuable, don't accumulate them! | - |
To accumulate as many cash rewards as possible, it’s important to use the Cash Rewards card for all of your everyday purchases.
This includes purchases at grocery stores, gas stations, restaurants and any other expenses you might make with a credit card.
That way, you’ll show that you prioritize the Cash Rewards card for the majority of your purchases, and that way, it’s possible to access better cash rewards every day.
On the other hand, you must pay the full balance each month, this will help you avoid paying interest and also maximize your rewards, it is recommended to pay the full balance of the card each month. This way you will avoid incurring interest charges and will be able to fully enjoy the rewards earned.
It is also recommended that you do not let your rewards accumulate unused. It is essential to redeem your rewards regularly to maximize their value.
You can redeem them for cash or even use them to pay off your card balance. If you leave them unredeemed it may be thought that you don’t need them or have no interest in them.
What do I need to get the Bank of America Cash Rewards Card?
The first thing you need is to have a savings or checking account with Bank of America. Once you have your account active, it’s time to make sure you meet other requirements such as a good credit history. Bank of America will evaluate your credit history to determine your eligibility.
Generally, a good credit score is required to be approved. Make sure you have a solid credit history before applying for the card.
The next thing the bank will evaluate is your income. In addition to credit history, Bank of America will also evaluate your income to determine your ability to pay. It is important to have a stable and sufficient income to justify the credit line requested.
There are no complicated or impossible conditions, Bank of America will only evaluate that you have the necessary means to meet the monthly payments once you acquire your cash rewards card. If you do not have the best credit history, it is best to work on building it before you begin applying for the card.
What is the application process like?
Once you have verified that you meet the requirements you can begin the application process. It’s not too complex, here we explain:
- Log in to the official Bank of America website and look for the credit card section
- Find the Cash Back Credit Cards Section
- Click on “Apply Now”
- The form will appear, make sure you complete the application properly
- Fill in all the required fields with the correct information, make sure there is no error in the data provided.
- Once you have submitted your application, Bank of America will evaluate the information provided and perform a credit check
If your application is approved you will receive your card in the mail within a reasonable amount of time. The bank will send you a notification about the status of your application so you can evaluate whether it has been approved.
It usually takes a few days while they do the necessary checks, but if you are certain that you have entered all the correct information, you should not worry.
References
- Bank of America® Cash Rewards Credit Card Review | Money Under 30.” Money Under 30, https://www.moneyunder30.com/credit-cards/reviews/bank-of-america-cash-rewards/
- “Bank of America® Customized Cash Back Rewards Credit Card.” Bank of America, https://www.bankofamerica.com/credit-cards/products/cash-back-credit-card/
- “Bank of America® Customized Cash Rewards Credit Card.” Money.Usnews, https://money.usnews.com/credit-cards/bank-of-america/bank-of-america-customized-cash-rewards-credit-card
- “Bank of America® Customized Cash Rewards Credit Card | Apply Online | CreditCards.Com.” CreditCards.Com, https://www.creditcards.com/credit-cards/bank-of-america-cash-rewards-credit-card/
- “Cash Back Credit Cards & Cash Rewards Credit Cards.” Bank of America, https://www.bankofamerica.com/credit-cards/cash-back-credit-cards/