The Bank of America Cash Rewards bonus is $200 for spending $1,000 within 90 days of opening the account. Cardholders get the $200 bonus as a statement credit. The BofA Cash Rewards Credit Card has ongoing rewards bonuses too. It gives 3% cash back in 1 self-chosen category: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings. And it gives 2% cash back at grocery stores and wholesale clubs. The 3% and 2% tiers for cash back are limited to a combined $2,500 spent per quarter, and all other purchases give 1% back.
You can change your 3% category once per month, or do nothing and it will stay the same. The card also comes with an intro APR of 0% for 15 billing cycles, plus no annual fee. It’s an easy way to grab a couple hundred extra dollars if you have the excellent credit required to get approved for the card.
Another BofA rewards bonus worth considering comes from the Bank of America Premium Rewards card: 50,000 bonus points for spending $3,000 in 3 months. That turns into $500 as a statement credit, which pays for 5 years of the card’s $95 annual fee. The BofA Premium Rewards card is geared toward travelers, so cardholders get automatically reimbursed for up to $100 worth of incidental airline costs per year – purchases like seat upgrades, airport lounge fees, baggage fees, and in-flight services. The card also gives 2 points per $1 spent on travel and dining, and 1.5 points per $1 on everything else.
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