Rodney Bennett, WalletHub Analyst
@rodneyben
Chase Freedom Unlimited and Bank of America Cash Rewards are both cash back cards with attractive bonuses and 0% introductory APRs. Which is the better card depends on one’s preference between flat-rate rewards and rewards rates that vary by purchase category. Freedom Unlimited offers 5% cash back on travel through Chase, 3% back at restaurants and drugstores, and 1.5% back on all other purchases (plus an additional 1.5% cash back on everything, up to $20,000 spent the first year). Bank of America Cash Rewards gives 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.
Bank of America Cash Rewards has a slightly higher first-year bonus. It gives $200 to people who spend $1,000 within the first 90 days of opening an account. Freedom Unlimited offers an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back. But their intro APR terms are similar. Each card has a 0% intro rate on purchases and balance transfers. It’s also worth noting that neither card is an ideal travel companion, as there’s a 3% foreign transaction fee on all international purchases.
If you have excellent credit, you have the luxury of picking whichever of the two cards has the best terms for the types of transactions you’re trying to make. But people with “just” good credit may only be able to get Chase Freedom Unlimited.

Chase Freedom Unlimited®
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