The Bank of America Cash Rewards credit score requirement 750 or higher. That means applicants for the BofA Cash Rewards card need excellent credit scores for good approval odds. A few people report being approved with lower scores but that’s not typical. The Cash Rewards card shares the same credit score requirement as a number of other BofA cards. Those include the BankAmericard Credit Card, the BofA Premium Rewards card and the BofA Travel Rewards card.
An excellent credit score does not guarantee you’ll be approved for the Cash Rewards card. But it is a key factor when reviewing the application. Bank of America will also consider annual income, employment status, monthly mortgage/rental payment, current debt, payment history and more.
If you meet the Bank of America Cash Rewards credit score requirement and are approved, you’ll earn 3% cash back on gas and 2% cash back at grocery stores and wholesale clubs, up to $2,500 spent each quarter. You’ll also receive a $200 bonus for spending $500 in the first 90 days. In addition, there’s an introductory APR of 0% for 15 billing cycles on purchases and 0% for 15 billing cycles on balance transfers. The card has a $0 annual fee.
Bank of America Cash Rewards credit score and other requirements:
Minimum credit score: 750+ (excellent credit).
Other factors: Annual income, employment status, existing debt, payment history, monthly mortgage or rental payment and more.
Minimum age: 18 years old for U.S. citizens. Must provide proof of independent income to make monthly payments, or have a co-signer 21 years or older.
Personal information: Includes name, address and birthdate. Must give a physical address, not a P.O. Box. You will also need one of the following: a Social Security number (SSN), a passport or an Individual Tax Identification Number (ITIN).
There are other Bank of America cash rewards cards with their own credit score requirements. Business owners will need an excellent personal credit score in order to have a decent chance of being approved for the Business Advantage Cash Rewards Mastercard. The Business Advantage card offers 3% cash back on purchases at gas stations and office supply stores up to $250,000 spent per year.
If you’re a student with limited credit, you’ll have good odds of being approved for the Cash Rewards Card for Students. It has a similar rewards structure as the regular Cash Rewards card. It offers 3% cash back on gas and 2% at grocery stores and wholesale clubs. It also offers a $200 bonus for spending $500 in the first 90 days.
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