Bank of America Unlimited Cash Rewards Credit Card- How to Apply

By Raquel Oliveira • 03/12/2025

Bank of America Unlimited Cash Rewards offer 1.5% cashback on all purchases and no annual fee.

The Bank of America Unlimited Cash Rewards credit card is a great choice for individuals looking to earn cashback on every purchase. With 1.5% unlimited cashback, it offers a simple and transparent rewards system without category restrictions.

One of its standout benefits is the $200 welcome bonus, available to new cardholders who spend $1,000 within the first 90 days. This bonus enhances the value of everyday purchases, making it an attractive option for those seeking consistent cashback earnings.

Another key advantage is the no annual fee, allowing users to maximize rewards without extra costs. Additionally, the card offers an introductory 0% APR for 18 billing cycles, providing flexibility for financing large purchases or transferring balances.

This guide explains how the card works, its primary benefits, potential drawbacks, fee structure, and application process. With this information, you can decide if this credit card aligns with your financial needs and spending habits.

How does Bank of America Unlimited Cash Rewards work?

The Bank of America Unlimited Cash Rewards Credit Card works by offering 1.5% cashback on all purchases. This means you can earn cashback on everything you buy, from groceries and gas to travel and entertainment. 

The flat cashback rate makes it easy to earn rewards, as there are no rotating categories to track or spending limits to worry about.

Additionally, the card offers a generous sign-up bonus for new cardholders, which provides you with extra points after meeting a minimum spending requirement.

The Bank of America Unlimited Cash Rewards Credit Card also offers 0% intro APR for 15 months on purchases and balance transfers.

Main benefits for the Bank of America Unlimited Cash Rewards

• Unlimited 1.5% cashback on all purchases, ensuring simple and consistent rewards without the need to track spending categories or limits.
• No annual fee, making it a cost-effective option for individuals who want long-term cashback benefits without additional yearly expenses.
• A $200 welcome bonus is available to new cardholders who spend $1,000 within the first 90 days, providing an easy way to earn extra rewards.
• A 0% introductory APR for 18 billing cycles on purchases and balance transfers, allowing for interest-free financing during this period.

Cons for the Bank of America Unlimited Cash Rewards

While the Bank of America Unlimited Cash Rewards Credit Card offers great rewards, there are a few downsides to consider.

One of the main cons is that the card only offers 1.5% cashback on all purchases, which may not be as high as the rewards offered by other cards in specific categories like dining or travel.

The card also charges a 3% foreign transaction fee, which can be a disadvantage for international travelers. Additionally, the APR can be high once the intro period ends, so it’s important to pay off your balance each month to avoid costly interest charges.

APR and Fees

This Credit Card offers 0% intro APR on purchases and balance transfers for the first 15 months. 

After the intro period ends, the APR reverts to a variable rate, typically ranging from 14.99% to 24.99%. This means that if you carry a balance after the intro period, you may incur high interest charges.

There is no annual fee for the card, which is a major benefit for those who want to earn cashback without the added cost. However, the 3% foreign transaction fee can be a downside for those who plan to use the card internationally.

How to Apply for the Bank of America Unlimited Cash Rewards

Applying for the Bank of America Unlimited Cash Rewards credit card is a quick and easy process, with online applications often providing instant approval decisions.

• Visit the official Bank of America website and navigate to the credit card section to start the online application process.
• Complete the application form by providing personal and financial details, including name, address, income, and Social Security number for credit evaluation.
• If you are an existing Bank of America customer, log into your account to expedite the application process and check for pre-approval offers.
• Upon approval, the card will be delivered within 7 to 10 business days, at which point it can be activated and used for purchases and cashback rewards.

Who Should Apply for the Bank of America Unlimited Cash Rewards Credit Card?

This credit card is ideal for individuals looking for a simple cashback system with unlimited earnings on all purchases, without category restrictions or spending limits.

It is a strong option for users who prefer a no-annual-fee card, allowing them to earn consistent rewards without additional yearly costs that reduce cashback value.

Additionally, it is beneficial for those planning large purchases or balance transfers, as the 18-month 0% APR period provides extended interest-free financing options.

However, individuals who spend heavily in specific categories such as dining, groceries, or travel may benefit more from a cashback card that offers higher fixed rewards in those areas.

Final Considerations

This credit card is a solid option for users who want consistent cashback rewards without the need to track spending categories or adjust their spending habits to maximize benefits.

While its fixed cashback rate is lower than some category-based rewards cards, its no-annual-fee structure and long introductory APR period make it a practical choice for everyday use.

Before applying, consider whether the flat cashback structure and 3% foreign transaction fees align with your financial habits, ensuring that the card provides long-term value for your needs.