Bank of America credit card benefits include generous rewards, big initial bonuses, low introductory APRs and low fees, depending on the card. Some cards also offer perks like rental car insurance, travel insurance, purchase protection, extended warranties on purchases, and more.
Please note that due to the high number of Bank of America credit cards on the market, this article focuses primarily on the bank’s consumer credit cards.
This content is not provided, commissioned or endorsed by any issuer. WalletHub independently collected information on 02/20/2025 and details are likely to have changed since. Please check the issuer’s site before applying.
Bank of America Credit Card Rewards
Most Bank of America credit cards offer rewards, including an initial bonus for spending a certain amount of money in the first few months. There are plenty of options for people of all credit levels, too. Bank of America offers student and secured versions of many of their popular credit cards.
| Card Name | Initial Bonus | Ongoing Rewards Rate |
| Bank of America® Customized Cash Rewards credit card | $200 for spending $1,000 in the first 90 days | 1 - 6% cash back |
| Bank of America® Unlimited Cash Rewards credit card | $200 online cash rewards bonus for spending $1,000 in the first 90 days after opening the account | 1.5 - 2% cash back |
| Bank of America® Travel Rewards credit card | 25,000 points for spending $1,000 in the first 90 days | 1.5 points per $1 |
| Bank of America® Premium Rewards® credit card | 60,000 points for spending $4,000 in the first 90 days | 1.5 - 2 points per $1 |
| Bank of America® Premium Rewards® Elite Credit Card | 75,000 points after spending $5,000 in purchases in the first 90 days | 1.5 - 2 points per $1 |
| Bank of America® Customized Cash Rewards credit card for Students | $200 for spending $1,000 in the first 90 days | 1 - 6% cash back |
| Bank of America® Unlimited Cash Rewards credit card for Students | $200 after spending $1,000 in the first 90 days | 1.5 - 2% cash back |
| Bank of America® Travel Rewards credit card for Students | 25,000 points for spending $1,000 in the first 90 days | 1.5 points per $1 |
| Bank of America® Customized Cash Rewards Secured Credit Card | N/A | 1 - 6% cash back |
| Bank of America® Unlimited Cash Rewards Secured Credit Card | N/A | 1.5 - 2% cash back |
| Bank of America® Travel Rewards Secured Credit Card | N/A | 1.5 points per $1 |
In addition to its regular line of credit cards, Bank of America also offers several credit cards that are co-branded with different airlines, hotels, charities and other organizations. These cards offer rewards and bonuses as well, typically giving you currency in the partnered company’s loyalty program.
Bank of America Co-Branded Cards
| Alaska Airlines Credit Card | 70,000 points and a $99 companion fare ticket after spending $3,000 in the first 90 days | 1 - 3 points per $1 |
| Pink Ribbon™ Credit Card | $200 for spending $1,000 in the first 90 days | 1 - 6% cash back |
| Free Spirit Airlines Credit Card | 50,000 points plus a $100 Flight Voucher for spending $1,000 in the first 90 days | 1 - 3 points per $1 |
| Allegiant Credit Card | 30,000 points for spending $1,500 in the first 90 days | 1 - 3 points per $1 |
| Air France KLM Credit Card | 50,000 miles + 100 Experience Points (XP) for spending $2,000 in the first 90 days | 1.5 - 3 miles per $1 |
| Royal Caribbean® Credit Card | 30,000 points after spending $1,000 in the first 90 days | 1 - 2 points per $1 |
| Norwegian Cruise Line® Credit Card | 20,000 points for spending $1,000 in the first 90 days | 1 - 3 points per $1 |
| Celebrity Cruises® Credit Card | 30,000 points for spending $1,000 in the first 90 days | 1 - 2 points per $1 |
Bank of America credit cards without rewards include the BankAmericard® credit card, the BankAmericard® credit card for Students, and the BankAmericard® Secured Credit Card.
Key Things to Know About Bank of America Credit Card Rewards
- Multiple types of rewards: Bank of America has rewards programs that offer either cash back or points. Bank of America’s various co-branded cards also offer points or miles with the partnered companies’ loyalty programs.
- Expiration: Bank of America cash back and points do not expire as long as your account stays open and in good standing. Points or miles on BofA’s co-branded cards may or may not expire according to the rules of the respective partners’ loyalty programs.
- Preferred Rewards bonus: If you own a Bank of America checking or savings account or a Merrill investment account, you can earn 25% to 75% more rewards on many different BofA credit cards. The amount of the bonus depends on the balance across your accounts.
- Anniversary bonus: Some Bank of America cards, particularly co-branded cards, offer bonus rewards or perks each account anniversary.
- Redemption options: Bank of America cash back rewards can only be redeemed for cash back. Bank of America points can be redeemed for cash back, travel or gift cards. Points are worth 0.6 cents to 0.6 cents each, depending on how you redeem them. Redemption options for BofA’s co-branded offers differ from card to card.
- Airfare discount: The Bank of America® Premium Rewards® Elite Credit Card offers a 20% discount on domestic and international airfare purchased with points.
Bank of America Credit Card Low Fees & APRs
No Annual Fee
Many Bank of America credit cards lack an annual fee, so you won’t have to pay anything just to keep the card open. The cards with no annual fee include:
- Bank of America Customized Cash Rewards credit card
- Bank of America Unlimited Cash Rewards credit card
- BankAmericard credit card
- Bank of America Travel Rewards credit card
- Bank of America Customized Cash Rewards for Students
- Bank of America® Unlimited Cash Rewards credit card for Students
- BankAmericard® credit card for Students
- Bank of America Travel Rewards for Students
- Bank of America Custom Cash Secured Card
- Bank of America® Unlimited Cash Rewards Secured Credit Card
- BankAmericard Secured
- Bank of America Travel Secured Card
- Pink Ribbon™ Credit Card
- Royal Caribbean® Credit Card
- Norwegian Cruise Line® Credit Card
- Celebrity Cruises® Credit Card
No Foreign Transaction Fee
Some Bank of America credit cards, particularly those focused on travel, don’t charge a foreign transaction fee. This means you won’t pay extra when shopping with foreign merchants, either abroad or online. The cards with no foreign transaction fee include:
- Bank of America Travel Rewards credit card
- Bank of America Premium Rewards credit card
- Bank of America® Premium Rewards® Elite Credit Card
- Bank of America Travel Rewards for Students
- Bank of America Travel Secured Card
- Alaska Airlines Card
- Free Spirit Airlines Credit Card
- Allegiant Credit Card
- Air France KLM Credit Card
- Royal Caribbean® Credit Card
- Norwegian Cruise Line® Credit Card
- Celebrity Cruises® Credit Card
Introductory 0% APR
Some Bank of America credit cards offer an introductory 0% APR on purchases and/or balance transfers. Once the promotional period ends, your balance will be subject to the card’s regular APR.
| Card Name | Purchase Intro APR | Balance Transfer Intro APR | Regular APR |
| Bank of America Customized Cash Rewards credit card | 0% for 15 billing cycles | 0% for 15 billing cycles for any balance transfers made in the first 60 days | 17.49% - 27.49% Variable |
| Bank of America Unlimited Cash Rewards credit card | 0% for 15 billing cycles | 0% for 15 billing cycles for any balance transfers made in the first 60 days | 17.49% - 27.49% Variable |
| Bank of America Travel Rewards credit card | 0% for 15 billing cycles | 0% for 15 billing cycles for any balance transfers made in the first 60 days | 17.49% - 27.49% Variable |
| Bank of America Customized Cash Rewards for Students | 0% for 15 billing cycles | 0% for 15 billing cycles for any balance transfers made in the first 60 days | 17.49% - 27.49% Variable |
| Bank of America® Unlimited Cash Rewards credit card for Students | 0% for 15 billing cycles | 0% for 15 billing cycles for any balance transfers made in the first 60 days | 17.49% - 27.49% Variable |
| Bank of America Travel Rewards for Students | 0% for 15 billing cycles | 0% for 15 billing cycles for any balance transfers made in the first 60 days | 17.49% - 27.49% Variable |
| Pink Ribbon™ Credit Card | 0% for 15 months | 0% for 15 months | 17.49% - 27.49% (V) |
| BankAmericard credit card | 0% for 18 billing cycles | 0% for 18 billing cycles for any balance transfers made in the first 60 days | 14.49% - 24.49% Variable |
| BankAmericard® credit card for Students | 0% for 18 billing cycles | 0% for 18 billing cycles for any balance transfers made in the first 60 days | 14.49% - 24.49% Variable |
Keep in mind that if you do a balance transfer to a Bank of America credit card, you will need to pay a balance transfer fee, which is typically 3% to 4% of the balance transferred.
Universal Bank of America Credit Card Benefits
There are some benefits that all Bank of America credit cards have, whether they’re a regular credit card, a student card, a secured card, or a card that’s co-branded with a particular company.
Credit Building
All Bank of America credit cards report to the three major credit bureaus, TransUnion, Equifax, and Experian, on a monthly basis. Using your card responsibly, including paying on time and keeping your credit utilization low, can help you increase your credit score.
Fraud Protection and Fraud Alerts
Bank of America will monitor your account for signs of fraud and notify you of anything suspicious.
$0 Fraud Liability
You won’t be held liable for any fraudulent purchases that you report or that Bank of America catches.
Contactless Chip Technology
Bank of America credit cards have contactless chip technology, which allows you to tap your card at a card reader rather than inserting it. This makes your transaction speedier and more secure from fraudsters.
Balance Connect for Overdraft Protection
This feature allows you to link your Bank of America credit card with a BofA checking account to prevent overdrafts, declined purchases and returned checks. If any of those situations would occur, the balance can get charged to your credit card instead. Bank of America says that there are “no transfer fees,” for using this feature, but that other fees may apply.
Paperless Statements
Bank of America allows you to receive all of your credit card statements electronically rather than by mail.
Digital Wallet Technology
You can add your Bank of America credit card to mobile wallets like Google Pay, Apple Pay and Samsung Pay in order to speed up checkout and keep your card details more secure, when shopping both in-person and online.
Online and Mobile Banking
You can access and manage your credit card account both online and through the Bank of America mobile app.
Account Alerts
You can set up email or text alerts for when your payments are due and when Bank of America has received payment.
Free FICO Score
You can access your FICO score, updated monthly, through your online account or the Bank of America mobile app.
You can also check your credit score for free, updated daily, right here on WalletHub.
Bank of America Credit Card Travel Assistance Benefits
Travel Insurance
Two Bank of America credit cards come with travel insurance, the Bank of America Premium Rewards credit card and the Bank of America® Premium Rewards® Elite Credit Card. When you pay for a trip with your card, both cards offer:
- Trip Delay Reimbursement: If your trip is delayed by at least 6 hours, or the delay requires an overnight stay, you can get reimbursed up to $500 per ticket.
- Trip Cancellation and Interruption Insurance: If your trip is canceled or cut short due to situations out of your control, such sickness or severe weather, you can get reimbursed for your fares. The Bank of America Premium Rewards credit card offers up to $2,500 per trip, while the Bank of America® Premium Rewards® Elite Credit Card does not specify a maximum coverage amount.
- Baggage Delay Insurance: If your luggage gets delayed for 6 hours or more, you can get reimbursed for essential purchases you had to make, like toiletries and clothing. The Bank of America Premium Rewards credit card offers up to $100 per day for up to 5 days, while the Bank of America® Premium Rewards® Elite Credit Card does not specify a maximum coverage amount.
- Lost Luggage Reimbursement: If your baggage gets lost, damaged, or stolen during transit, you can get reimbursed for the bags and their contents. The Bank of America Premium Rewards credit card does not specify a maximum coverage amount, while the Bank of America® Premium Rewards® Elite Credit Card offers up to $3,000 per trip.
- Rental Car Insurance: When you rent a car using your card, you are covered for collision damage and theft. In order to receive this coverage, you have to charge the whole rental cost to your card and decline any insurance that the rental car company offers. The Bank of America Premium Rewards credit card does not specify a maximum coverage amount, while the Bank of America® Premium Rewards® Elite Credit Card offers up to $75,000.
- Emergency Evacuation/Transportation Coverage: If you experience sickness or injury while traveling, you can get reimbursed for the cost of related transportation and medical expenses. The Bank of America Premium Rewards credit card does not specify a maximum coverage amount, while the Bank of America® Premium Rewards® Elite Credit Card offers up to $100,000.
In addition, only the Bank of America® Premium Rewards® Elite Credit Card comes with the following coverage:
- Travel Accident Insurance: This benefit provides up to $1,000,000 in coverage for death or dismemberment while traveling on a common carrier.
For full coverage details, you can refer to the Guide to Benefits provided after account opening or call the number on the back of your card for assistance.
It's possible that other Bank of America credit cards, including the cards co-branded with various travel providers, may offer travel insurance through their respective credit card networks. In order to find out if a card has travel insurance, you can consult the Guide to Benefits you received after approval if you already have the card, or call Bank of America customer service.
You can learn more about the best credit cards with travel insurance and rental car insurance here on WalletHub.
Travel and Emergency Assistance
This is a 24/7 help line for travel emergencies, which you can reach by calling the Benefit Administrator at 866-848-3643. It can provide medical and legal referrals, among other services. It’s free to call the help line, but you will have to pay for any services it connects you with.
Only the Bank of America Premium Rewards credit card and the Bank of America® Premium Rewards® Elite Credit Card advertise this benefit, but it’s possible other cards might have it.
Roadside Dispatch
You can call 800-847-2869 to access an on-demand roadside assistance service, which can help you with things like towing, gas delivery, tire changes, jumps-starts and more. You will need to pay for any services you use.
Only the Bank of America Premium Rewards credit card and the Bank of America® Premium Rewards® Elite Credit Card advertise this benefit, but it’s possible other cards might have it.
Bank of America Credit Card Travel Savings Benefits
Airline Incidental Credit
The Bank of America Premium Rewards credit card gives an annual airline incidental statement credit of up to $100 for purchases like seat upgrades, baggage fees, airport lounge fees and inflight services. The Bank of America® Premium Rewards® Elite Credit Card gives the same credit, but for up to $300.
Global Entry or TSA PreCheck Credit
Both cards give a statement credit of up to $100 every four years toward the application fee for either Global Entry or TSA PreCheck, which expedite your way through airport security. Since Global Entry includes TSA PreCheck, we recommend applying for that one.
Rental Car Benefits
The Bank of America® Premium Rewards® Elite Credit Card offers discounts, VIP amenities and free status upgrades with three different rental car agencies: Avis, Hertz, and National.
Extra Perks at Luxury Hotels
The Bank of America Premium Rewards credit card and the Bank of America® Premium Rewards® Elite Credit Card both offer access to special benefits at hotels in the Luxury Hotel Collection. These perks include:
- A guarantee of the best available rate
- Automatic room upgrades, when available
- Free Wi-Fi, when available
- Free daily breakfast
- A $25 food and beverage credit
- VIP guest status
- Late check-out up to 3 p.m.
This benefit may also be available on other Bank of America Visa Signature or Visa Infinite cards.
Airport Lounge Access
The Bank of America® Premium Rewards® Elite Credit Card gives cardholders a complimentary Priority Pass Select airport lounge membership, which gives you access to more than 1,700 lounges worldwide when enrolled. You can enjoy free drinks, refreshments, Wi-Fi and more.
The Alaska Airlines Card gives a $100 annual discount on an Alaska Lounge+ membership.
Companion Fare/Voucher
- The Alaska Airlines Card offers a companion fare every account anniversary if you spent at least $6,000 during the previous year. This allows you to purchase a ticket for a companion for a flat fee of $99 plus taxes and fees, which could save you a significant amount of money, depending on the flight.
- If you spend $5,000 during any cardmember year with the Free Spirit Airlines Credit Card, you can get a voucher that decreases the cost of a companion fare by $100.
Free Checked Bag
The Alaska Airlines Credit Card gives a free checked bag for you and up to six guests on the same reservation for Alaska Airlines and Hawaiian Airlines flights.
Priority Boarding
The following cards provide priority boarding when you pay for a flight with the airline they are co-branded with:
- Alaska Airlines Card
- Free Spirit Airlines Credit Card
- Allegiant Credit Card
Inflight Purchase Rebate
The following cards give a rebate for eligible inflight purchases with partnered airlines:
- Alaska Airlines Card: 20% back on food, beverages and Wi-Fi
- Free Spirit Airlines Credit Card: 25% rebate on food and beverages
In addition, the Allegiant Credit Card doesn’t exactly offer an inflight purchase discount, but it does give you one free beverage per flight.
Airfare Discounts
- Whenever you purchase a vacation package from Allegiant that has 4+ hotel nights or 7+ rental car days, you can get a buy one, get one free airfare offer using the Allegiant Credit Card.
- When you spend $3,500 in the first 90 days with the Royal Caribbean® Credit Card, you can get a $50 airfare discount through the Royal Caribbean Air2Sea program.
Bank of America Credit Card Protection Benefits
Purchase Security
The Bank of America Premium Rewards credit card and the Bank of America® Premium Rewards® Elite Credit Card offer purchase security, which protects eligible items you purchase with your card against damage and theft for up to 90 days. For both cards, the coverage amount is up to $10,000 per claim.
While no other Bank of America credit cards advertise this benefit, they might have it through their respective credit card networks. You can see the best credit cards with this benefit in our Purchase Protection Study.
Extended Warranty Protection
The Bank of America Premium Rewards credit card and the Bank of America® Premium Rewards® Elite Credit Card offer extended warranties on purchases.
The Bank of America Premium Rewards credit card doubles the original manufacturer’s warranty on eligible purchases, up to one additional year. The Bank of America® Premium Rewards® Elite Credit Card simply adds one year on to existing warranties of three years or less.
It’s possible that other Bank of America credit cards might have this benefit through their respective credit card networks. Check out WalletHub’s Extended Warranty Study to learn more.
Return Protection
The Bank of America Premium Rewards credit card and the Bank of America® Premium Rewards® Elite Credit Card both offer return protection. When you try to return a like-new, working item to a merchant within 90 days of the purchase date and they won’t accept the return, you can get reimbursed for its cost.
The Bank of America Premium Rewards credit card’s coverage is up to $250 per item and $1,000 per year. For the Bank of America® Premium Rewards® Elite Credit Card, it’s up to $300 per item and $1,000 per year.
Identity Theft Restoration Insurance
The Bank of America® Premium Rewards® Elite Credit Card will reimburse you for up to $15,000 in covered expenses related to restoring your identity after an identity theft incident.
For full coverage details, you can refer to the Guide to Benefits provided after account opening or call the number on the back of your card for assistance.
Other Bank of America Credit Card Benefits
Lifestyle Credit
The Bank of America® Premium Rewards® Elite Credit Card offers an annual credit of $150 for “lifestyle conveniences” such as video streaming services, fitness subscriptions, food delivery and rideshare services.
Concierge
Some Bank of America credit cards, such as the Bank of America Premium Rewards credit card and the Bank of America® Premium Rewards® Elite Credit Card, give you access to a 24/7 concierge service. A concierge is like a personal assistant who can help you with things such as:
- Making restaurant reservations
- Booking travel
- Purchasing event tickets right when they go on sale
- Recommending and purchasing gifts
- Your own unique requests
Visa Dining Collection
This Bank of America® Premium Rewards® Elite Credit Card perk gives you exclusive access to make reservations at popular restaurants during peak hours. Participating restaurants set aside tables specifically for Visa Infinite cardholders, so it’s possible this benefit might appear on other Bank of America cards.
Golf Discounts
The Bank of America® Premium Rewards® Elite Credit Card, as a Visa Infinite card, provides special golf benefits with the golf course management company Troon. They include:
- Special rate of $99 per player at over 20 private golf clubs when you pay with your card
- Free Platinum Troon Rewards status: 20% off golf fees, merchandise, and lessons
It’s possible this benefit might be on other Bank of America Visa cards, too.
Additional Network-Level Benefits
Bank of America issues credit cards on the Visa and Mastercard networks. Depending on what card you have and what tier it is within its respective network, it may come with additional benefits that are not listed in this article.
To find out about additional benefits that your card may have, you can consult the Guide to Benefits you received after approval if you already have a card. Otherwise, you can call Bank of America customer service at (800) 432-1000 for more details.
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