How much is the Bank of America Unlimited Cash Rewards Business Card annual fee?

Yes, Bank of America does have credit cards with no annual fee. The best Bank of America credit card with a $0 annual fee is the Bank of America Customized Cash Rewards credit card. This card offers 3% cash back in a category of your choice and 2% back at grocery stores and wholesale clubs (up to $2,500 spent quarterly), plus unlimited 1% cash back on all other purchases. Plus, the card gives $200 for spending $1,000 in the first 90 days.

Best Bank of America Credit Cards with No Annual Fee

A Bank of America card with a ... read full answer$0 annual fee will save you around $22 each year, compared to the average credit card offer. You shouldn’t completely rule out cards with annual fees, however. If you use enough perks and make enough purchases on a rewards card with an annual fee, the rewards can more than make up for the cost of having the card.

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The first time you get the Bank of America credit card, the annual fee will come out of your limit. Think of it like a regular purchase added to your balance right from the start. Once you pay it off, you'll have your full credit line. After the first one, it'll just be on your anniversary.... read full answer

No annual fee means you will not be charged every year for using your credit card. This means you’ll save anywhere from tens to hundreds of dollars in annual fees, depending on the credit card.

What you should know about credit card annual fees:

• Annual fees are often tied to high-end ... read full answerrewards cards, travel rewards cards, business cards, in addition to cards for people with limited and bad credit. The annual fee helps the issuer recoup the costs of rewards and benefits the card offers.
• There are a number of no annual fee credit cards that offer rewards such as cash back or rewards earned on purchases. But you will need good credit or better to qualify for most of these cards.
• A good go-between is a credit card that waives the annual fee for the first year you have the card. After the first year, the fee will be charged to your account, unless you close the account before that happens. But doing so could have a negative effect on your credit score. You might also lose any unredeemed rewards.

Whether you should have a no annual fee card depends on your spending habits and preferences. If you’ll earn enough in rewards to warrant the cost of an annual fee, it might be worth the investment. But if you know you won’t make too many purchases over the course of a year, your best bet would be to stick with the no annual fee card.