Bank of America Cash Rewards Card Cash Back Calculator

Bank of America Cash Rewards Card

3%/1% Gas Station
3%/1% Travel
3%/1% Dining
3%/1% Home Improvement
3%/1% Drug Store
3%/1% Online Shopping
2% Wholesale Clubs
2% Grocery Store
Customer Bonus
Preferred Reward Client

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The Bank of America Cash Rewards Card is great for anyone looking to earn some solid cash back on a category of there choice along with grocery and wholesale club purchases. The card allows you to pick between six categories every quarter to maximize your earnings on what you consider to be most important. If you do any banking with Bank of America or any investing/trading with Bank of America, Merrill Edge, or Merrill Lynch, you will have the chance to earn even more points.

Bonus Categories

The Bank of America Cash Rewards Card features eight bonus categories which consist of several categories broken up into two groups. The first group of categories consists of gas stations, online shopping, dining, travel, drug stores, and home improvement/furnishings. You can choose one category in this group that you want to earn 3% cash back on every quarter. The remaining categories will earn 1% cash back for that quarter. The second group of categories are grocery store and wholesale clubs which always earns the same amount of cash back every quarter. There is a combined cap of $2,500 across all eight categories for each quarter. After you pass this cap, all bonus categories will earn 1% cash back for the remainder of the quarter. There is no limit to the amount of cash back you can earn with the card.

Gas Stations

If selected for the quarterly category, gas station spending on the Bank of America Cash Rewards Card will earn 3% cash back per $1 spent. This will apply to merchants whose primary purpose is to sell gasoline. Examples include Hess, BP, Speedway, and Exxon. When it comes to return, this is a pretty solid option. You can earn a slightly higher return with the PNC Cash Rewards Card which earns 4% cash back on gas station purchases, but if you're a Bank of America Customer or invest with them and/or their partners, you can earn between 3.3% and 5.25% cash back per $1 spent thanks to the customer bonuses Bank of America offers.

Online Shopping

If selected, online shopping will earn 3% cash back when you use your Cash Rewards Card. Consider the side of the world wide web, this can be a very good choice that can earn some decent cash back. This is not a common category and it beats out the 2% cash back that the Barclays Uber Card earns on this category. Online shopping in itself consists of many categories Some examples include:

  • Travel (Delta, Hertz, Marriott, Uber)
  • Entertainment (Ticketmaster, Events, Concerts)
  • Retail (Etsy, QVC, Groupon, Macy's)
  • Electronics (Best Buy, Apple, Microsoft)
  • Food & Grocery (Starbucks, Walmart, Target)

Those who bank and/or invest with Bank of America and their partners can earn up to 5.25% cash back. If you're able to hit the max bonus, you're looking at an unbeatable card for this bonus category.


If selected, using the Cash Rewards Card for dining will earn 3% cash back per $1 spent. This is a great rate on food and considered to be a pretty good return and matches cards like the PNC Cash Rewards and Capital One SavorOne cards. At a base rate, you can earn a slightly higher rate with the Barclays Uber Card which earns 4% cash back and has no cap on how much you can earn. The Bank of America Customer Bonus can earn you up to 5.25% cash back on this category so if you have heavy investments with BOA and partners, the return here will be superb.


If selected, you can earn 3% cash back per $1 spent on travel purchases. This can be a great category for those who spend a fair amount in travel during each quarter. This includes airfare, hotels, car rentals, and things of that nature. This matches the return of both the Sam's Club Mastercard and Costco Visa which also earns 3% cash back on travel purchases. If you factor in the Bank of America Customer Bonus, you can earn up to 5.25% cash back. Earning that much on cash back on this category makes this card one of the best when it comes to travel purchases.

Drug Stores

If selected, the Cash Rewards Card earns 3% cash back per $1 spent on drug store purchases. This is not a common category but it is seen on several Amazon credit cards. If you spend a lot at places such as CVS, RiteAid, and Walgreens, this category can be very beneficial. Those who have the Customer Bonus will benefit even more by being able to earn up to 5.25% cash back.

Home Improvement & Furnishings

If selected, the Cash Rewards Card will earn 3% cash back per $1 spent on home improvement & furnishing purchases. This will include places such as Lowes, Home Depot, IKEA, Menards, and Pottery Barn. For those who do a lot of shopping at these kind of store, you will easy rake in a great deal of cash back. The only drawback is that these will usually be large purchases and since you only have $2,500 to work with every quarter between all eight categories, you could easy hit the cap in no time. It's also worth noting that a lot of stores in these categories offer their own co-branded credit cards that can compete with the this card such as the Lowes Advantage Card. You will want to do a little research before choosing this as your quarterly category.

2% Grocery

Using the Cash Rewards Card for grocery purchases will earn 2% cash back per $1 spent. This will apply to stores such as Vons, Winn-Dixie, Giant Eagle, and Publix. The Blue Cash Everyday Card earns 3% cash back which is slightly better. A lot of cards earn the same 2% return including the Capital One SavorOne Card and PNC Cash Rewards Card. Bank of America checking and savings account holders will earn 2.2% cash back while Preferred Reward Clients can earn between 2.5% to 3.5% cash back for grocery purchases which is nice.

2% Wholesale Clubs

The Bank of America Cash Reward Card earns 2% cash back per $1 spent on Wholesale Clubs. This is a solid return on a category that isn't seen on many cards. Both the Discover IT and Chase Freedom Card sometimes features Wholesale Club as a quarterly 5% cash back category. Most of the wholesale club credit cards barely earn any decent cash back when used at their own store, so pairing this card with the Discover or Chase card can ensure you get some pretty good cash back during the year.

1% Non-Category

Any spending outside of the categories listed above will only earn 1% cash back. As usual, this type of spend can be placed on a 1.5% cash back or higher card. Some suggestions consist of the Capital One Quicksilver (1.5%), Chase Freedom Unlimited (1.5%), and Citi Double Cash (2%).

Perks and Benefits

Bank of America Customer Bonus

Bank of America customers with an active checking or savings account will get a 10% customer point bonus. This will bump the chosen 3% cash back category up to 3.3% and the 2% cash back category to 2.2%. This bonus will no longer apply if you acquire Preferred Rewards Client Gold status since you will be earning a higher bonus.

Bank of America Preferred Rewards Clients

Bank of America Preferred Rewards Clients can earn up to a 75% customer point bonus when using their Bank of America Cash Rewards Card. The Bank of America Preferred bonus is based on qualifying combined balances in your Bank of America banking and/or Merrill Edge® and Merrill Lynch® investing and trading accounts. This bonus does not stack with the Bank of America customer bonus listed above. In order to qualify for the Preferred Rewards Program, you will have to meet a certain threshold of 3-month average combined balanced within your accounts. The qualifications of each Preferred Rewards level is:

Preferred Rewards Clients
Tier Balance Requirement Bonus
Gold $20k to <$50k 25% Bonus
Platinum $50k to <$100k 50% Bonus
Platinum Honors $100k+ 75% Bonus

The cash bonus for this card operates different than the Bank of America Business Advantage Cash Rewards Mastercard. The business card's Platinum Honors members earn +0.75 whereas owners of the Cash Rewards card earns a bonus of x0.75 which is exceptionally better.

Sign Up Bonus

The standard Bank of America Cash Rewards Card sign up bonus is a $200 cash rewards after making at least $500 in purchases within the first 90 days of account opening. This is a pretty decent bonus with a relatively low spend.

Credit Card Fees

Annual Fee
Authorized User Fee
Foreign Transaction Fee

Annual Fee

There is no annual fee for the Bank of America Cash Rewards Credit Card. This gives the opportunity to earn some solid cash back across these everyday categories!

Authorized User Fee

There is no fee for adding authorized users to the Bank of America Cash Rewards Card. if you have family and friends that shop in the categories of grocery, wholesale clubs, and gas, I would recommend adding them as additional users to build cash back faster!

Foreign Transaction Fee

The foreign transaction fee for the Bank of America Cash Rewards Card is 3%. This will drain the value of your rewards by $0.03 for every dollar you spend outside of the United States. I would not use this card to make international purchases. Pick up a card with no foreign transaction fee like the Capital One SavorOne Card.

and Card Value Calculator

You can use this rewards calculator to calculate how many points, miles, or cash back you can earn based on your spend per category. This calculator will also give you the dollar value of the card based on rewards earned and how much each benefit is worth to you minus the fees. You can click the Compare A Card button to compare this card against another card in the same calculator.

All category spend entered in the primary card's column will carry over to all credit card pages on the site so you don't have to re-enter the same information over again.

Credit Card
This calculator will calculate the cash value of the selected credit card(s) based on spend, benefits, and fees. You can compare this card against any another rewards card side-by-side by clicking on the Compare A Card button.
Compare A Card
Compare A Card
Select a card from the list below to compare it side by side against this card. You can search by card name (e.g. chase sapphire reserve, uber visa) or by rewards program (e.g. thankyou points, membership rewards points).
Currency Worth
This is the cash value of points and miles used in these calculations. You can click on the amount to change the value or you can select View Rewards As to calculate your rewards when transferred to partners.
View Rewards As...
0 Cent(s)
View Rewards As...
This section allows you to view your rewards as if you transferred them to a partner. Select a transfer partner below and the calculator will alter the calculator to reflect the transfer ratio and the reward currency of the receiving program. This only applies to the currency of the selected card. Not all programs have transfer partners. I also do not have the cash value of points and miles for all transfer partners.
Edit Value
Enter the cash value of these rewards in cents per point/mile. You can enter the value as X.XX cents or 0.0XXX cents. The maximum value allowed is 15 cents ($0.15) and the minimal value is 0.1 cents ($0.001).
Loyalty/Rewards Programs
Covers hotel loyalty status, status with bank rewards programs, and few others. These are added automatically based on card selection, but can be manually added as well.
/ Loyalty Programs
Add/Remove Loyalty Programs
Select which loyalty programs you want to include in the calculations. You will be able to select your status with the program and it will calculate additional points/bonuses based on what you enter in the calculator.
Loyalty Programs
Other Bonuses
All card card specific bonuses will be listed here. These are added automatically based on the selected card(s).
Categories Spending
Enter how much you spend in each category listed. You can click on the amount to edit the value. You can use +/- Categories to add and remove categories from the list and Options to copy spend between columns and clear all spend.
/ Categories
Add/Remove Categories
Select which categories you want to appear in this calculator. You can search categories by typing in a keyword below. De-selecting categories will remove them from this calculator. Categories are changed once you hit 'Update'.
Currently Selected:
Deselect All
Clear Spend
This will clear the spend in all of the categories in both columns. This will also clear all saved values.
Copy Spend
Copy Right will take the spend from the left column and copy it to the right column. Copy Left will take the spend from the right column and copy it to the left column. The spend amount ($) and unit of time (month, day, quarter) will be copied over.
Reward Bonuses
This section holds sign up bonuses, loyalty bonuses, and bonus bonuses. Most bonuses here will be listed automatically based on certain criteria. You can click 'Extra Bonus' if you wish to enter your own bonus amount.
Extra Bonus
Any additional bonuses you wish to add such as a sign up bonus or point bonus for adding authorized users
Total Earnings
Sum of all rewards above this line.
Cash Value of Earnings
Based off of currency worth.
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Calculator Continues Below
Monetary Bonuses/Perks
This is a list of cash perks and bonuses associated with the selected card(s). Some perks will be listed here automatically. You can click on 'Perk Bonus' if you want to add additional value for the card.
Perk Bonus
Enter how much you value any unmentioned perks this card offers.
Annual Fees
This section contains the annual fee and authorized user fee (if applicable) to hold on to the listed card(s).
Edit Fees
Edit the annual fee and authorized user fee of the Card (if applicable).
Annual Fee: -
Auth Fee: -
Grand Total
The total estimated value you can get out of this card and the amount of return for your spend.
Total Card Value
The value of the card when everything is taken into account.
Total Return
The percent you are earning per dollar spent on this card.

Recommended Cards

PNC Cash Rewards

If you spend a great deal in gas, take a look at the PNC Cash Rewards Card. It earns 4% cash back on gas, 3% back at restaurants, and 2% back at grocery stores. The PNC Cash Rewards Card does have a cap of $8,000 in combined spending, so if you spend less than that per year between those categories I'd recommend considering the card!

Blue Cash Everyday

For a great return on supermarket purchases, the Blue Cash Everyday Card can earn you 3% cash back on up to $6,000 in purchases during the year. If you spend more than $270 per month, you can step up to the Blue Cash Preferred Card which earns 6% cash back!

Sam's Club Mastercard

If you're not pressed to receive your cash back as fast as possible, the Sam's Club Mastercard earns 5% cash back on gas, 3% on dining, and 3% on travel. The gas station bonus category has a cap of $6,000 in which you will earn 1% cash back for gas once you surpass that limit. Cash back earned on this card is rewarded in the form of a check every February for the rewards earned the previous year. A maximum of $5,000 worth of cash back can be earned with this card, so it has a great deal of earning potential!

Amazon Prime Card

Amazon Prime members who shop at Whole Foods Market can enjoy the cash back earnings of the Chase Amazon Prime Card. It earns 5% cash back on both Amazon and Whole Foods Market, along with 2% cash back at drugstores, restaurants, and gas stations. It's a great card for anyone who spends a great deal on Amazon, like myself.

Recent News/Articles

Page Last Updated: 2019-03-01

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About These Calculators: These calculators are provided to help you estimate the value of points, miles, and cash back you can earn with various rewards programs and using reward earning credit cards. These calculators are meant to provide an estimate of rewards earned and are not meant to reflect the exact amount of points you may receive. Be sure to read the terms and conditions of any credit card before you apply as benefit and perk changes may not be reflected immediately on this website.

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