Bank of America® Unlimited Cash Rewards Credit Card Review 2026
The Bank of America® Unlimited Cash Rewards credit card is one of the simplest, most straightforward cash back cards on the market — and for good reason. With a flat unlimited 1.5% cash back on every purchase, no annual fee, and a solid intro APR offer, it delivers consistent value without requiring you to track bonus categories or rotating rewards.
How the Rewards Work
Every dollar you spend earns an unlimited 1.5% cash back — whether you're buying groceries, filling up at the pump, or booking a flight. There are no caps, no expiration dates, and no confusing category rules to follow. Your rewards accumulate automatically and can be redeemed as a statement credit, deposit into a Bank of America® or Merrill® account, or check.
Bank of America Preferred Rewards Boost
If you're already a Bank of America customer with qualifying deposit or investment balances, the Preferred Rewards program can supercharge your earnings significantly:
Preferred Rewards Boost (based on 2.0% base rate)
| Tier | Required Balance | Bonus | Effective Rate |
|---|---|---|---|
| Gold | $20k+ balance | +25% bonus | 2.5% cash back |
| Platinum | $50k+ balance | +50% bonus | 3% cash back |
| Platinum Honors | $100k+ balance | +75% bonus | 3.5% cash back |
At the Platinum Honors level, this no-annual-fee card outpaces most premium cash back cards — making it exceptional value for existing BofA customers.
Welcome Offer & Intro APR
New cardholders can take advantage of a 0% intro APR on purchases and balance transfers for the first 15 billing cycles, after which a variable APR applies. There's also a cash rewards bonus for new cardholders who meet the minimum spend requirement in the first 90 days — check the current offer when you apply, as amounts vary.
Key Card Details
| Annual Fee | $0 |
| Rewards Rate | 2% cash back on all purchases for the first year from account opening |
| Intro APR | 0% Intro APR for 15 billing cycles for purchases |
| Regular APR | 17.49% - 27.49% Variable APR on purchases and balance transfers |
| Credit Needed | Excellent/Good |
| Foreign Transaction Fee | 3% |
Who Should Get This Card?
The Unlimited Cash Rewards card is a great fit if you:
- Want a simple, no-fuss cash back card with no annual fee
- Don't want to think about rotating categories or redemption rules
- Are already a Bank of America or Merrill customer (Preferred Rewards makes this card exceptional)
- Need a long 0% intro APR window to finance a large purchase or transfer a balance
Potential Drawbacks
No card is perfect for everyone. Here's where this card falls short:
- No bonus categories — If you spend heavily on groceries or dining, a card like the Blue Cash Preferred® or Citi Custom Cash® might earn more in those areas.
- 3% foreign transaction fee — Not the best companion for international travel.
- Flat rate without Preferred Rewards — At 1.5% base, you'll find equal or better flat-rate offers elsewhere if you don't bank with BofA.
Our Verdict
For everyday simplicity and especially for Bank of America Preferred Rewards members, the Unlimited Cash Rewards card is hard to beat. The combination of $0 annual fee, solid flat-rate cash back, and potential Preferred Rewards boosts makes it one of the best value cards in its category. If you want to maximize every dollar without any effort, this card deserves a spot in your wallet.
Rates & fees apply. See issuer's website for current terms and conditions.