Essential Insights Before Applying for the BoA Unlimited Cash Rewards Card

The Bank of America Unlimited Cash Rewards card, partnered with Visa Signature, offers a fantastic 1.5% cash back on every purchase, along with extra perks for those in the Preferred Rewards program.

The Preferred program comes with a variety of unique benefits.

With this credit card, your rewards can reach between 1.87% and 2.62% per purchase, which can greatly influence your budget.

To be eligible for this program, applicants must have an active and qualifying Bank of America account.

Additionally, you’ll need to keep a combined average balance of $20,000 over three months, which can include deposits and Merrill investment accounts.

The Bank of America card has no annual fee and offers a 15-month introductory APR for both balance transfers and purchases.

After this period, the interest rates vary, typically ranging from 18.24% to 28.24%. Balance transfer fees begin at 3% and can rise to 4%.

New cardholders can receive a $200 sign-up bonus by spending at least $1,000 in the first three months.

You can redeem rewards that don’t expire through options like statement credits, Bank of America deposits, Amazon.com purchases, and PayPal.

If you’re curious to learn more, just keep reading.

Eligibility Criteria

You don’t need to be a Bank of America customer to apply for this card. When you get the BoA Unlimited, a card account will be created for you.

To apply for the BoA Unlimited, you must be at least 18 years old, or 21 in some states like Puerto Rico.

Services from this card are available in all 50 states of the USA. To be eligible, you must either be a US citizen or a foreign national holding a valid passport and work visa.

Your credit history should ideally show a good to excellent score, usually between 670 and 700 FICO points.

You’ll also need to provide official documentation of your income for the card approval.

It’s important to remember that fulfilling these requirements doesn’t guarantee approval, as each application is evaluated at the bank’s discretion based on availability.

How to Apply for the BoA Unlimited Cash Rewards Card?

The Bank of America site features a prominent “Apply Now” button that leads you directly to the application form.

When you open the application form, you’ll need to enter basic information such as your first name, last name, home address, phone number, and email.

If you’re an existing Bank of America customer, logging in can simplify the process. After that, you’ll provide banking info like your Social Security number, type of residence, monthly expenses, and income.

These are the main details the bank typically asks for, after which they will perform a comprehensive credit review.

During the application process, you may need to provide documentation like proof of residence, a scanned ID or passport, and recent bank statements to confirm your income.

If you have questions or face any issues, feel free to contact the bank through their online chat or other customer service options, including the provided phone number.

Additional Information

This card is versatile and doesn’t even require a physical card; you can use it with mobile wallets. For security, BoA provides:

• Fraud prevention lock
• $0 liability for fraudulent charges
• Balance Connect for overdraft protection
• Full card control via mobile banking
• General account alerts
• Monitoring of your FICO score

Thus, beyond just rewards, this option is excellent for managing your finances effectively.

Curious about another choice?

The Capital One SavorOne card emphasizes rewards too, giving you 1% back on all qualifying purchases and up to 3% in select categories for daily spending.

Moreover, this option provides solid security and user-friendly features, and you can discover how to apply.