The right Bank of America card depends on what you spend money on and whether you want rewards

Bank of America offers roughly a dozen credit cards, each built around a different spending pattern. The cash back cards reward you for everyday purchases. The travel cards waive foreign transaction fees and offer points toward flights and hotels. The premium cards charge an annual fee but include perks like airport lounge access. There is no single "best" card—the best one is the one that matches how you actually spend.

The decision comes down to three things: what categories you spend the most in, whether you travel internationally, and whether you are willing to pay an annual fee for extra benefits. A person who eats out constantly and takes one vacation a year needs a different card than someone who drives for work and never leaves the country.

Key Takeaways

  • Bank of America's cash back cards reward everyday spending with no annual fee, but the rewards rate varies by category—groceries, gas, and dining earn more than other purchases.
  • Travel cards waive foreign transaction fees and earn points on flights and hotels, useful if you travel internationally or book through the bank's travel portal.
  • Premium cards charge $95 to $450 annually but include benefits like airport lounge access, travel credits, and higher rewards rates that may offset the fee if you spend enough.
  • Your credit score, existing Bank of America accounts, and sign-up bonus offers all affect which card you can get and whether the rewards are worth the cost.

Cash back cards for everyday spending

Bank of America's cash back cards are designed for people who want rewards without paying an annual fee. The Bank of America Cash Rewards card gives you 1% cash back on all purchases, with a 3% bonus in your first year (capped at $20,000 in purchases, then 1% after). The Bank of America Customized Cash Rewards card lets you pick one category to earn 3% cash back in—groceries, gas, transit, or dining—while other purchases earn 1%.

The Customized Cash card works best if you have one category where you spend significantly more than others. If you spend $400 a month on groceries but only $100 on gas, choosing groceries gets you an extra $36 per year compared to the flat 1% card. If your spending is spread evenly across categories, the flat 1% card is simpler and the rewards are nearly identical.

Both cards have no annual fee and no foreign transaction fees, which means you can use them abroad without a penalty. The cash back posts to your account monthly and can be used to pay your statement balance or transferred to a linked Bank of America savings account.

Travel cards for flights, hotels, and international trips

Bank of America's travel cards earn points instead of cash back, and those points are worth more when redeemed for travel. The Bank of America Travel Rewards card earns 1.5 points per dollar on all purchases and has no annual fee. Points can be redeemed for flights, hotels, car rentals, or cruise bookings through Bank of America's travel portal, or transferred to partner airlines and hotel chains.

The Bank of America Premium Rewards card charges $95 per year but earns 2 points per dollar on travel and dining, and 1 point on everything else. It also includes a $100 annual travel credit (applied as a statement credit when you book travel), which effectively reduces the annual fee to $0 if you use it. The card waives foreign transaction fees, making it useful if you spend money abroad.

Travel cards make sense if you book flights or hotels at least a few times per year, or if you spend regularly on dining and want the higher earning rate. The points typically convert to cash at a rate of 1 cent per point, so 1.5 points per dollar equals 1.5% cash back—similar to the flat cash back card, but with the option to redeem for travel at a higher value if you book through Bank of America's portal.

Premium cards with annual fees and extra benefits

Bank of America's premium cards charge between $95 and $450 per year and include benefits designed to offset the cost. The Bank of America Premium Rewards card ($95 annually) includes a $100 travel credit, Priority Pass lounge access, and higher earning rates on travel and dining. The Bank of America Preferred Rewards Platinum Plus card ($95 annually) is available only to customers with a Preferred Rewards membership and offers similar benefits.

These cards are worth the annual fee only if you use the included benefits. If you never visit airport lounges and rarely book travel through the bank's portal, the premium card's extra perks add no value. Calculate whether the higher earning rate on your typical spending covers the annual fee: if you spend $10,000 per year on dining and travel, the extra 0.5 points per dollar (compared to the no-fee travel card) equals $50 in additional rewards—not enough to justify the $95 fee. If you spend $30,000 annually in those categories, the extra rewards ($150) exceed the fee.

Premium cards also often include sign-up bonuses worth $200 to $500 in points or cash back, which can offset the first year's annual fee. These bonuses typically require you to spend a certain amount within the first few months—usually $500 to $3,000.

How to compare cards based on your credit score and existing accounts

Bank of America's card approval depends on your credit score. Cards with no annual fee generally require a fair credit score (typically 600 or higher), while premium cards often require good to excellent credit (typically 670 or higher). If your score is below 600, you may not be approved for any Bank of America credit card; in that case, a secured credit card or a card from another issuer may be your only option.

Bank of America also offers slightly better rewards rates and bonuses to customers who have a checking or savings account with the bank and enroll in Preferred Rewards. This program gives you a bonus multiplier on cash back or points based on how much money you keep in your Bank of America accounts. If you have $20,000 or more in deposits, you earn a 25% bonus on rewards; at $100,000 or more, the bonus jumps to 75%. This can meaningfully increase your rewards without changing which card you use.

If you already bank with Bank of America, check whether you may have access to for Preferred Rewards before comparing cards. The bonus multiplier can make a lower-tier card more valuable than a premium card at another bank.

What happens after you open a card

Once approved, your card arrives within 7 to 10 business days. You can activate it online or by phone, and you can start using it immediately for purchases. Rewards post to your account monthly and are available to use right away—you do not have to wait until your statement closes.

If you have a sign-up bonus, you must meet the spending requirement within the timeframe stated in your offer (usually 60 to 90 days). The bonus posts as a statement credit or as points added to your account once you hit the threshold. Keep track of your spending toward the requirement; Bank of America does not send reminders.

You can manage your card through the Bank of America mobile app or website. You can view your rewards balance, redeem cash back or points, set up automatic payments, and monitor fraud alerts. If you decide the card is not right for you, you can close it at any time, though closing a card may lower your credit score slightly because it reduces your total available credit.

Frequently Asked Questions

Can I have more than one Bank of America credit card?

Yes. You can hold multiple Bank of America cards at the same time, and many people do—for example, a cash back card for everyday spending and a travel card for flights. However, Bank of America limits how many new cards you can open within a certain period (typically one card every 30 days and no more than two within 90 days). Check the bank's current rules before applying for a second card.

What is the difference between cash back and points?

Cash back is a fixed dollar amount that posts to your account and can be used to pay your bill or transferred to savings. Points are a currency that Bank of America assigns a value to, and that value can change depending on how you redeem them. One point is typically worth 1 cent as cash, but may be worth 1.5 cents if you redeem it for travel through the bank's portal.

Do I have to pay an annual fee if I close the card before the year ends?

Most Bank of America cards charge the annual fee upfront when you open the account. If you close the card within 30 days, the bank may refund the fee; after that, the fee is usually non-refundable. Check your card's terms before applying if the annual fee is a concern.

How does the sign-up bonus work?

A sign-up bonus is a one-time reward (usually cash back or points) that posts to your account after you spend a certain amount within a set timeframe. For example, a bonus might be "$200 cash back after you spend $500 in the first 60 days." Only purchases count toward the requirement; balance transfers and fees do not. The bonus posts within a few days of meeting the requirement.

Can I use my Bank of America card outside the United States?

Yes, all Bank of America credit cards work internationally. However, most cards charge a foreign transaction fee of 3% on purchases made outside the U.S., except for the travel cards and premium cards, which waive this fee. If you travel internationally more than once a year, a card with no foreign transaction fee saves money.