Bank of America Credit Cards

You can easily check if Bank of America will pre-qualify you for a credit card online. All you have to do is provide your name, birth date and Social Security number, and Bank of America’s pre-qualify tool will show you any BofA credit cards for which you have good approval odds. You might also receive a pre-qualified offer in the mail, which will only be for a single card.

Pre-qualification doesn’t guarantee you approval. But pre-qualified applicants end up being approved in the vast majority of cases. Pre-qualification doesn’t affect your credit at all since it uses a soft inquiry. But if you want to apply for a card, Bank of America will do a hard inquiry, which will cause a temporary score dip. This decrease is easily fixed with a few months of responsible card use, though. If you’d like to check for pre-qualification, you can do it in minutes.

If you already have a Bank of America account, all you have to do is log in on the pre-qualification page and you’ll be able to see your offers right away without inputting any extra information. If you don’t have an account, you just need to follow five simple steps.

Here’s how to get Bank of America to pre-qualify you for a credit card:

1. Go to Bank of America’s pre-qualification page. 
2. Click “Continue without signing in.”
3. Enter your full name, birth date and the last four digits of your Social Security Number. Click “Continue.”
4. Enter your address and select what type of credit card you’re interested in (you can also select that you don’t have a preference). 
5. Click “Show me my offers.”

You’ll now be able to see any cards that Bank of America thinks you’d be a good candidate for. If you got a pre-qualification letter in the mail, you can either fill out the enclosed application, or use the special code provided when you apply online to flag your application as pre-qualified.

The Bank of America foreign transaction fee is 3% or 0% of all international transactions, depending on the BofA card. There are 9 Bank of America credit cards with no foreign transaction fees, including the BofA Premium Rewards and Travel Rewards cards.

Those no foreign fee BofA cards clearly are a better choice for international spending than the ones with a 3% surcharge for everything you buy abroad. That’s actually one of the highest foreign fees on the market. So international shoppers need to be careful when picking a Bank of America credit card and perhaps consider cards from other issuers too.

Bank of America foreign transaction fees:

Some Bank of America credit cards have a 3% foreign transaction fee.

Other Bank of America credit cards have no foreign transaction fee.

Foreign transaction fees can apply when you travel abroad or make online purchases from foreign merchants.

At 3%, the Bank of America foreign transaction fee is too steep for anyone planning to make international purchases. But the cards that charge it are meant more for everyday spending than travel. The good news is there are a handful of foreign fee-less alternatives.

Best Bank of America credit cards with no foreign transaction fees:

1.  Bank of America Premium Rewards - Biggest Bonus

2.  Bank of America Travel Rewards - No Annual Fee

3.  Alaska Airlines Credit Card - Best Airline Rewards

4.  Bank of America Travel Rewards for Students - Best Student Card

Plus, more and more cards from other issuers are shedding their foreign fees. So you can shop around for the best deal.

You can request a Bank of America credit line increase online or by calling customer service at 1 (800) 732-9194. For the best chances of receiving a Bank of America credit line increase, you should have at least six consecutive months of on-time payments under your belt. Having more income and/or less debt than you did when you got your Bank of America credit card will help, too.

When you request a Bank of America credit limit increase, Bank of America may ask to do a hard pull of your credit. This may cause your score to drop a bit in the short term. But if you get a higher limit, that can help your score long-term. Anyway, depending on what Bank of America’s computer system decides, they may just do a harmless soft pull of your credit instead.

Bank of America may offer you a credit limit increase without you asking. They’ll periodically review your account to see if you are eligible. A credit line increase from this type of review always uses a soft pull.

Here’s how to get a Bank of America credit limit increase:

1. Sign in to your Bank of America online account. You’ll need to enroll in online banking if you haven’t already.
2. Go to the “Account details” page.
3. Click the “Information and Services” tab.
4. Look to see if there is a button for increasing your credit limit. It will only appear if your account is eligible.
5. Enter your total annual income, the amount of the increase you want, and click “Submit Request.”

You will receive your Bank of America credit line increase decision either on the site or by email.

If you would like to request a Bank of America credit line increase by phone, call 1 (800) 732-9194 and enter your card number. When connected to a representative, tell them you’d like a higher limit. They will ask for your income, desired increase amount and permission to do a hard pull, if applicable.

A Bank of America cash advance lets you borrow money from your credit line, via ATM withdrawal, paper check or direct deposit to a bank account. But there’s a high cost. Bank of America’s balance transfer fee is 3% or 5% of the transaction amount, and interest immediately starts accruing at an annual rate of 17.99% to 26.99%. The exact fee depends on the type of transaction you choose, but there’s a minimum charge of $10 in all cases. Your exact cash advance APR is based on both your creditworthiness and the type of cash advance.

The cash advance APR applies immediately and interest compounds daily. So each day you owe interest on all past interest plus your principal balance. That’s why it’s best to avoid cash advances except in emergencies.

To get a Bank of America cash advance at an ATM, you’ll need to request a PIN. You can do this through your online account or by calling the number on the back of your card. With other methods, you won’t need a PIN since you’ll confirm your identity in person, online or through a check you were issued. But before you take out a cash advance, you should make sure you know all of the potential fees and interest rates.

Bank of America Cash Advance Info:

• Cash advance from an ATM: 5% fee ($10 min.), 17.99% to 26.99% APR
• In-person cash advance (from a bank teller): 5% fee ($10 min.), 26.99% APR
• Same-day transfer to BofA bank account: 5% fee ($10 min.), 26.99% APR
• 1-3 business day deposit into bank account: 3% fee ($10 min.), 17.99% to 26.99% APR
• Cash advance check: 3% fee ($10 min.), 17.99% to 26.99% APR
• Cash equivalents (money order, traveler’s check, etc.): 5% fee ($10 min.), 26.99% APR

As you can see, there are lots of different ways to get a Bank of America cash advance. But they’re all extremely costly, with high fees and interest. So you should really avoid them unless you have absolutely no choice.

A Bank of America credit card’s interest rate can be anywhere from 14.49% to 25.49%. It depends on both your creditworthiness and which Bank of America credit card you apply for. All Bank of America credit card APRs are variable, meaning they can change over time.

Here are the Bank of America credit card interest rates:

• BankAmericard Credit Card: 14.49% - 24.49% regular APR. 0% on purchases and balance transfers for 15 billing cycles.

• BankAmericard Credit Card for Students: 14.49% - 24.49% regular APR. 0% on purchases and balance transfers for 15 billing cycles.
• Bank of America Cash Rewards: 15.49% - 25.49% regular APR. 0% on purchases and balance transfers for 12 billing cycles.
• Bank of America Travel Rewards for Students: 16.49% - 24.49% regular APR. 0% on purchases for 12 billing cycles.
• Bank of America Cash Rewards for Students: 15.49% - 25.49% regular APR. 0% on purchases and balance transfers for 12 billing cycles.
• Bank of America Travel Rewards: 16.49% - 24.49% regular APR. 0% on purchases for 12 billing cycles.
• Bank of America Premium Rewards: 17.49% - 24.49% regular APR. No intro APR.
• BankAmericard Secured: 24.49% regular APR. No intro APR.

Each Bank of America credit card also has more than one interest rate. There’s the regular APR, which applies to purchases and balance transfers and ranges from 14.49% to 25.49%. Several cards have a 0% APR on purchases and/or balance transfers for a certain number of months before the regular APR takes effect. And if you miss a payment, you could have a penalty interest rate of up to 29.99%. The APR for cash advances can be anywhere from 17.74% to 26.99%, depending on your creditworthiness and card.

If you want to increase the chances of getting a low Bank of America credit card interest rate, you should make sure your credit is as good as possible before applying. Doing anything you can to bump up your income can also make a difference. But if you pay your credit card bill in full every month, you won’t ever have to worry about the interest rate.

Like all other credit cards, Bank of America cards offer $0 fraud liability guarantees, which means you won’t have to pay for unauthorized purchases. Below, you can also check out where Bank of America ranks in a handful of WalletHub studies on important credit card benefits.

• 1st – Small Business Friendliness

• T-1st – Application Clarity

• 5th – Customer Satisfaction

• 14th – Rental Car Insurance

You can learn more about Bank of America and browse customer reviews on its WalletHub details page.

Bank of America cash back deals allow most Bank of America credit card and debit card users to earn as much as 15% cash back at a changing selection of restaurants, stores and other retailers. Different deals will expire at different times, lasting anywhere from a few days to over a month. To see the current deals, log into your Bank of America account, click on “Special Deals and Offers,” and hit “Add this deal” when you see an offer you like. Once you’ve activated a deal, you can claim your extra cash back by simply paying with your Bank of America credit card at that retailer.

That’s the basic outline, but there are some useful details you should be aware of.

Here’s what you should know about Bank of America cash back deals:

• You can find deals on the Bank of America app as well as the website. Download the app, log in, and click “Choose your deals.”
• You need to actually sign up for specific deals to earn extra cash back. Simply shopping at featured merchants is not enough.
• There is no limit to how many deals you can activate at a time.
• The cash back you receive from Bank of America deals is in addition to any you earn through your Bank of America card’s rewards program.
• You can use Bank of America debit and credit cards for cash back deals, but there are some exclusions. You can’t get the deals with ATM-only cards, a type of debit card that only works for withdrawing cash from ATMs. Corporate cards and some co-branded cards are also ineligible.
• You can choose to get email and text alerts when new deals become available. In the app, click on the “Alerts” tab. You’ll be able select which notifications you want sent to your phone. You can also sign up for alerts online by logging into your account and going to “Help and Support,” then “Mobile Banking.” Click “Set Up/Manage Mobile Banking Settings,” and you’ll see your alert options.
• Some deals require you to pay either online or in person.
• The cash back you earn will be credited to your account at the end of every month.

Bank of American cash back deals aren’t quite as easy to take advantage of as regular rewards. There’s the extra step of finding and claiming special offers. But the savings are significant. And the deals are free to claim. So all in all, they’re definitely worth using, as long as you’re choosing offers that fit with your typical spending patterns.

Bank of America’s new credit card is the Air France KLM Credit Card, which launched in October 2018. The new Air France-KLM Card offers 25,000 bonus miles for spending $1,000 in the first 90 days. It also gives 5,000 miles each account anniversary to customers who spend $50 in the 12 months prior. The Air France Card’s regular rewards rate is 3 miles per $1 spent with SkyTeam Alliance airlines, with 1.5 miles per $1 on all other purchases. The annual fee is $89, and you need good credit to get it.

The newest BofA card prior to that was the Bank of America Premium Rewards Card, which launched in September 2017. It offers 50,000 bonus points for spending $3,000 in the first 90 days. On top of that, it gives out 2 points per $1 spent on travel and dining, plus 1.5 on all other purchases, and bonuses for BofA banking clients and frequent travelers. The annual fee is $95, but that’s comparable to similar travel rewards credit cards.

Bank of America’s newest credit cards include:

• Air France KLM Credit Card: Launched October 2018.
• Bank of America Premium Rewards card: Launched September 2017.
• Allegiant Credit Card: Launched September 2016.
• Amtrak Credit Card: Launched September 2015.

People who need a new Bank of America credit card because their card was lost, damaged or stolen can request a replacement online. Just sign in, go to “Information & Services,” and find the option to request a replacement card. The card will arrive in 7-10 calendar days. But there may be an option to overnight it for free. Another way to request a replacement card is to call customer service at 1 (800) 732-9194.

Yes, Visa extends its complimentary rental car insurance coverage to all of its cards. You can check out a breakdown of the policy here: http://wallethub.com/edu/rental-car-insurance-credit-card-study/25684/ . Furthermore, since it’s a Visa Signature, this card provides a handful of additional benefits, such as lost luggage reimbursement and travel accident insurance. You can see the full list here: https://apps.usa.visa.com/visasignature/benefits.jsp . Hope this helps!

You can add a Bank of America authorized user online or by phone (800-732-9194). All you need is the individual’s name, date of birth, Social Security number and phone number. There is no minimum age for a Bank of America authorized user, and all BofA cards have $0 annual fees for authorized users.  

When you add a Bank of America authorized user, they will receive their own credit card linked to your account. Any purchases they make will show up on your statement, and you are the one responsible for paying for those purchases.

Adding a Bank of America authorized user is a great way to help someone build or rebuild credit. All information about your account will appear on the user’s credit report. So if you pay on time, their score will improve.

If you’re interested in adding a Bank of America authorized user, the process is pretty easy.

Here’s how to add a Bank of America authorized user online:

1. Sign in to your Bank of America account (or enroll with last 6 digits of your card number and full SSN).
2. Select your credit card from the page that displays your accounts.
3. Click the “Information and Services” tab.
4. Click “Add an authorized user” underneath the “Services” heading.
5. Enter the user’s full name, relationship to you and country of residence.
6. Type the user’s date of birth, Social Security number and primary phone number.
7. Click “Submit.”

By default, your Bank of America authorized user’s credit card will be sent to your address. There is an option to change the mailing address at the top of the page. But before you add a Bank of America authorized user, make sure it’s someone you trust.