Bank of America® Unlimited Cash Rewards: Unlimited Cashback with No Annual Fee

Earn unlimited 2% cashback on all purchases during the first year and 1.5% cashback thereafter, with no annual fee and the potential to earn even more through the BofA Rewards™ program.

Olena
By Olena | Jun 23, 2026 at 7:11 PM EST

The Bottom Line

4.7
BIG4CREDIT RANKING Our 5-star rating is based on Big4credit’s independent, data-driven scoring system. Each card is evaluated across multiple weighted categories – including rewards, fees, welcome offers, 0% intro APR, ongoing APR, perks, benefits, and protections. Ratings are determined solely by our research and analysis and are never influenced by card issuers or advertisers. Read about our ranking system in the Credit Card Ranking & Methodology section.
This is a simple cashback card that earns unlimited 2% cashback on all purchases during the first year and 1.5% thereafter, with no annual fee. It works well for everyday spending and those who prefer straightforward rewards over bonus categories. Customers enrolled in the BofA Rewards™ program can significantly boost earnings. However, frequent spenders on dining, groceries, or travel may earn more with a category-focused card.
Bank of America® Unlimited Cash Rewards
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On Bank of America's Secure Website

Bank of America® Unlimited Cash Rewards
Annual fee:   $0

Intro APR

Purchases: 0%, 15 billing cycles

Balance Transfers: 0%, 15 billing cycles

Regular APR

17.49% - 27.49% Variable APR

Credit Score

670-850 (Good/Excellent)

Rewards Earn unlimited 1.5% cashback on all purchases.

1.5% Cashback

Welcome Offer Earn a $200 bonus after spending $1,000 in the first 90 days from account opening. Plus, earn unlimited 2% cashback on purchases for the first year.

$200 + 2% Cashback on Purchases for the First Year

Welcome Offer

  • Earn a $200 bonus after spending $1,000 in the first 90 days.
  • First-Year Earning Boost: Earn unlimited 2% cashback on all purchases for the first year.

Rewards

1.5% Cashback on all purchases.

Redemption Options

Flexible Redemption: Redeem cashback as a statement credit, direct deposit to eligible Bank of America® or Merrill® accounts, or use it at Amazon.com and PayPal checkout.

Fees and APR

  • Annual Fee: $0.
  • 0% Intro APR on Purchases and Balance Transfers: Enjoy 0% intro APR for 15 months from account opening. To qualify for the balance transfer offer, transfers must be completed within the first 60 days.
  • Regular APR: After the introductory period, a variable APR of 17.49% - 27.49% applies to purchases and balance transfers.
  • Intro Balance Transfer Fees: 3% of the transfer amount for balance transfers made within the first 60 days.
  • Regular Balance Transfer Fees: 5% of each transfer amount for balance transfers made after the introductory period ends.
  • Foreign Transaction Fee: 3% of each foreign transaction.

Bank Relationship Benefits

  • BofA Rewards™ Eligibility: An eligible Bank of America® personal checking account is required to enroll in BofA Rewards™.
  • Boosted Rewards for BofA Rewards™ Members: If you’re enrolled in BofA Rewards™, you can earn 10% to 75% more cashback.
    • Member: 10% rewards bonus - 1.65% cashback on all purchases
    • Preferred Plus: 25% rewards bonus - 1.87% cashback on all purchases
    • Preferred Honors: 50% rewards bonus - 2.25% cashback on all purchases
    • Premier: 75% rewards bonus - 2.62% cashback on all purchases
    • Note: BofA Rewards™ bonuses do not apply to the first-year cash back bonus.

» MORE: BofA Rewards™ Replaces Preferred Rewards

Convenience Features

Digital wallet compatible: Apple Pay®, Google Pay™, Samsung Pay.

Buy Now, Pay Later Options

Custom Pay Plan: Break up eligible credit card purchases into equal monthly payments. No interest, just a fixed monthly fee.

Ratings

  • Net Value & Cost Efficiency: 4.7/10
  • Rewards & Earnings Power: 9.3/10
  • Welcome Bonus Value: 9/10
  • APR & Interest Structure: 7.8/10
  • Simplicity & Transparency: 10/10
  • Perks, Benefits & Protections: 1.9/10
  • Issuer Credibility & Stability: 6.8/10
  • Installment & BNPL Features: 7/10
  • Eligibility & Approval Accessibility: 8/10

Terms and Conditions

Click Apply Now to see the terms and conditions.

EarnSmart Rewards Strategy

These cards can help maximize rewards across travel and rotating bonus categories:

  • Altitude® Connect: Earn elevated rewards on travel, gas, and EV charging purchases, complementing Unlimited Cash Rewards flat-rate earnings.
  • Discover it®: Earn 5% cashback on rotating quarterly categories (activation required), adding bonus rewards throughout the year.
  • Freedom Flex®: Adds a second rotating 5% category calendar, creating additional opportunities to earn elevated rewards across changing spending categories.

» MORE: See Big4credit’s best cash back credit cards

Unlimited Cash Rewards for Students: Designed for students looking to build credit while earning straightforward cashback rewards. It offers a similar rewards structure to Unlimited Cash Rewards, but with eligibility tailored to students.

» MORE: See Big4credit’s best student credit cards

Unlimited Cash Rewards Secured: A secured option for applicants building or rebuilding credit.

» MORE: See Big4credit’s best credit cards for bad credit

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