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A no-annual-fee card with a simple cash-back structure is always worth a look — especially when it’s offering one of its strongest bonuses.
The card’s long-term appeal is straightforward: unlimited 1.5% cash back on purchases, with no annual fee and no bonus categories to track. And if you qualify for Bank of America Preferred
Here’s what you need to know about the limited-time offer, how the card works after the bonus posts, and the Bank of America application rules to keep in mind.
Bank of America Unlimited Cash Card Welcome Bonus
For a limited time, new cardholders can earn a $250 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. This is $50 higher than the standard welcome offer.
This bonus represents a 25% bonus on the first $1,000 in spending — and that's before you factor in the cash back earnings from that spending.
Plus, 90 days should be an easily achievable window to meet a $1,000 spending requirement. Most households should easily clear this with typical everyday spending.
Related: The Best Cash Back Cards for Every Budget
Bank of America Unlimited Cash Card Benefits and Earnings
The Bank of America Unlimited Cash Card earns unlimited 1.5% on all purchases, with no need to track bonus categories or spending caps, and no need to activate anything. Rewards don't expire while the account is open and in good standing. Cash back can be redeemed as a statement credit, a deposit into an eligible Bank of America checking or savings account, or a credit to an eligible Merrill account.
While several no-annual-fee cards match or beat the card's 1.5% cash-back rate, the BofA Rewards program can multiply your credit card earnings from 10% to as much as 75% based on how much you hold in Bank of America deposit accounts and Merrill investment accounts. If you hold enough assets to reach the higher tiers, the Bank of America Unlimited Cash Card easily beats most competitor cards by earning up to 2.625% cash back on all purchases.
Beyond earning, the card offers a few perks. As a
Related: Bank of America Unlimited Cash Card full review
Bank of America Unlimited Cash Card Application Restrictions
Bank of America is stricter about approvals than some issuers, and several of its rules are unwritten. Here's what to keep in mind:
- The 2/3/4 rule caps new Bank of America cards. Two new cards in a two-month period, three in a 12-month period, and four in a 24-month period.
- Recent applications elsewhere count against you. If you have a Bank of America deposit account, applications are generally denied once you've opened seven or more new cards across all issuers in the past 12 months. Without one, that threshold drops to three or more. Business cards that don't appear on your personal credit report typically aren't counted.
Bank of America doesn't publish a rule on how long you must wait to earn the bonus again on the same card. Reported data points cluster around 24 months from opening or closing, depending on the product, but your experience may vary.
Related: Understanding Rewards Credit Card Application Rules and Restrictions
Bottom Line
This limited-time welcome bonus of $250 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening is one of the strongest bonuses the Bank of America Unlimited Cash Card has carried, and it provides an excellent return for a no-annual-fee card. If you've been on the fence about adding this one to your wallet, the elevated offer is a good reason to stop waiting.
- Earn unlimited 1.5% cash back on all purchases
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