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Bank of America® Unlimited Cash Rewards Credit Card

Bank of America

No Annual Fee
Annual Fee
visaGoodcash-backno-annual-fee4 months ago

Welcome Offer

$200Spend $1,000 within 3 months
Check issuer terms ↗
OpenCard analysis

Is the Bank of America Unlimited Cash Rewards Credit Card right for you?

The Bank of America Unlimited Cash Rewards is a no-annual-fee cash-back card from Bank of America. Its strongest everyday earning is 2% on All purchases — first year offer, with 1.5% on most other purchases. With no fee, the question is simply whether 2% on All purchases — first year offer beats what your current card earns there.

Who it's for

  • ✓ People who spend steadily on All purchases — first year offer, where it earns 2%
  • ✓ Anyone who wants All purchases — first year offer rewards without paying an annual fee

First-year value estimate

Welcome bonus
$200
Rewards on spending
$195
Annual fee (year 1)
−$0
Year 1, before credits
$395

Year two, without the welcome bonus: about $195 before credits ($195 in rewards minus the $0 fee).

Assumptions

  • $3,000 a year in All purchases — first year offer (2%) and $9,000 on everything else (1.5%) — $12,000 total, about $1,000 a month.
  • Rewards valued at 1¢ per point or 1% cash back (cash-equivalent).
  • Welcome bonus: the $200 bonus at face value ≈ $200.
  • No annual fee in any year.

An illustration, not a promise of value. Change the spending to match yours; rewards are not cash until redeemed. Card data reviewed 2026-06-14.

How it compares

Blue Cash Everyday →
American Express, same $0 annual fee; earns 3% on gas.
AARP Essential Rewards Mastercard from Barclays →
Barclays, same $0 annual fee; earns 3% on gas stations and drugstores.
Athleta Encore Mastercard →
Barclays, same $0 annual fee; earns 5% on Gap Inc. brands (Athleta, Gap, Banana Republic, Old Navy).
Compare side by side →

Rules and gotchas

  • The welcome bonus requires $1,000 in 3 months — roughly $333 a month. That fits inside the $1,000 a month in our illustration.
  • The 2% rate on All purchases — first year offer includes a first-year boost; the estimate above uses it, so year two earns less.

Frequently asked questions

Does the Bank of America Unlimited Cash Rewards have an annual fee?
No. Our record lists a $0 annual fee for the Bank of America Unlimited Cash Rewards.
What does the Bank of America Unlimited Cash Rewards earn?
2% on All purchases — first year offer, 1.5% on All purchases — standard base, and 1.5% on other purchases.
Is the Bank of America Unlimited Cash Rewards worth it in the first year?
Using our illustration ($12,000 of yearly spending, $3,000 of it in All purchases — first year offer), the first year comes out around $395 before credits, including a welcome bonus valued at $200. Year two drops to about $195 before credits.
What credit do I need for the Bank of America Unlimited Cash Rewards?
Our record lists "Good" credit as the typical target for the Bank of America Unlimited Cash Rewards. Bank of America makes the final decision based on its own criteria.

Earning Rates

2×All purchases — first year offerUnlimited 2% cash back on purchases for the first year for new cardholders.
1.5×All purchases — standard baseUnlimited 1.5% cash back after the first-year offer; eligible BofA Rewards tiers may increase effective earnings.

Dynamic Reward Rules

Relationship bonus

BofA Rewards / Preferred Rewards — Eligible Bank of America deposit and Merrill investment balances determine tier. Credit-card rewards bonus is applied to eligible Bank of America credit cards; tier names/thresholds reflect the 2026 BofA Rewards transition and should be re-verified as terms settle.

Member: $0+ – $29,999
+10% bonus
Preferred Plus: $30,000+ – $99,999
+25% bonus
Preferred Honors: $100,000+ – $999,999
+50% bonus
Premier: $1,000,000+
+75% bonus

Insurance

Sources

Last Updated: Jun 14, 2026

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