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Author - Sam
Updated: December 1, 2023 | Credit Card Review The Bank Of America Unlimited Cash Rewards credit card will allow you to earn unlimited 1.5% cashback on all your purchases with no annual fee. Plus, Bank Of America Preferred Rewards customers earn an even higher cashback rate all the way up to 2.625% cashback on all purchases! Here is the breakdown, Platinum Honors members ($100,000 or more in your Bank of America accounts) earn 75% more rewards on all purchases (2.625% cashback), Platinum members ($50,000 or more in your Bank of America accounts) earn 50% more rewards on all purchases (2.25% cashback), Gold members ($20,000 or more in your Bank of America accounts) earn 25% more rewards on all purchases (1.875% cashback on all purchases).
- Max cards: Bank of America will only approve you for 2 Bank of America personal cards within 2 months, 3 Bank of America personal cards within 12 months, and 4 Bank of America personal cards within 24 months
- You cannot get approved for a personal Bank of America card if you have more than 5 Bank of America personal credit cards open
- BOA 2/6 cards in 12 months rule: Bank of America will not approve you for their credit card if you opened more than 2 cards in the past 12 months, even if it’s from other issuers. Unless you are a BOA bank account holder, then you can get approved even if you opened up to 6 cards in 12 months
- 24 month rule: The Unlimited Cash Rewards card may not be available to you if you currently have or have had the Unlimited Cash Rewards card in the past 24 month period. Based on these terms, it seems that you "may" not be eligible for a new card until your previous card is closed for a full 24 months
Apply for two cards: If you apply for one Bank Of America card and get approved, it is recommended to apply for a second card since Bank Of America is very good about approving for two cards, even within the same day
- Credit bureau: Bank Of America will usually pull your Experian credit report (If you freeze Experian then Bank Of America will pull your TransUnion credit report)
- Combining same-day credit inquiries: Credit inquiries for all Personal BOA cards for applications within 30 days will be combined
- Check application status: You can check your application status here
- Reconsideration: I don't have a direct line to Bank of America's reconsideration department. If declined, you can call the new accounts fraud department at 1-888-230-6262, and they can connect you to the reconsideration department
- Quickest way to get my card: You can request Bank of America to expedite your physical card by calling Bank of America customer service. Bank of America will in most cases not offer an instant credit card number for your new card.
Approval Monitor (submitted by HelpMeBuildCredit users)
Credit limit range $500-$23,200
Avg. Credit limit$9,275
Disclosure: These results are based on information submitted by HelpMeBuildCredit users. Credit card approval results are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. Neither HelpMeBuildCredit nor the bank advertiser's take any responsibility on the accuracy of the information.
HelpMeBuildCredit credit ranges are a variation of FICO®️ Score 8, one of many types of credit scores lenders may use when considering your credit card application
- Balance transfer fee: The intro balance transfer fee on transfers made within the first 60 days of account opening is 3%
- Penalty APR
Get your original manufacturer’s warranty time doubled (up to a year). (Will only cover if the original warranty is for 3 years or less). Max $10,000 per claim, $50,000 per account.
Bank Of America Preferred Rewards customers earn an even higher chasback rate all the way up to 2.625% cashback on all purchases. Here is the breakdown, Platinum Honors members ($100,000 or more in your Bank of America accounts) earn 75% more rewards on all purchases (2.625% cashback), Platinum members ($50,000 or more in your Bank of America accounts) earn 50% more rewards on all purchases (2.25% cashback), Gold members ($20,000 or more in your Bank of America accounts) earn 25% more rewards on all purchases (1.875% cashback on all purchases).
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