Bank of America Cash Rewards Card Calculator

Card Review & BOA Cash Back Calculator
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

Review the benefits of the Bank of America Cash Rewards Card, calculate how much cash back you can earn based on spend, and compare results to top cards.


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 and 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.

  • 3%/1% Gas Station
    • Selectable 3% Category; If not selected, you'll earn 1%.
  • 3%/1% Online Shopping
    • Selectable 3% Category; If not selected, you'll earn 1%.
    • Includes a wide range of categories. Examples:
      • 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)
  • 3%/1% Dining
    • Selectable 3% Category; If not selected, you'll earn 1%.
  • 3%/1% Travel
    • Selectable 3% Category; If not selected, you'll earn 1%.
    • Includes airfare, hotels, car rentals, and other travel related purchases.
  • 3%/1% Drug Store
    • Selectable 3% Category; If not selected, you'll earn 1%.
  • 3%/1% Home Improvement & Furnishings
    • Selectable 3% Category; If not selected, you'll earn 1%.
  • 2% Grocery
  • 2% Wholesale Clubs
  • 1% Non-Category

Perks & Benefits

The Bank of America Cash Rewards Card rewards you for having a relationship with Bank of America and their partners.

  • Bank of America Customer Bonus
    • Receive a 10% bonus if you have an active checking or savings account with Bank of America.
    • Bonus based off of the earning rate, so a 10% boost to the 3% category is 3.3% cash back.
  • Bank of America Preferred Rewards Client
    • Earn a 25% to 75% bonus based on your 3-month average in combined balances between your Bank of America banking and/or Merrill Edge® and Merrill Lynch® investing and trading accounts.
    • Bonus is based off of the earning rates, so a 75% boost to the 3% category would knock it up to 5.25% cash back.
    • Does not stack with the 10% Customer Bonus.
Customer Bonus & Preferred Rewards Client Bonuses
Tier Balance Requirement Bonus
None Checking/Savings Account 10% Bonus
Gold $20k to <$50k 25% Bonus
Platinum $50k to <$100k 50% Bonus
Platinum Honors $100k+ 75% Bonus

Sign Up Bonus (SUB)

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.

Fees

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% which makes this card a bad choice for international spending.

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 other rewards card side-by-side by clicking on the Compare A Card button.
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Categories Spending
Enter how much you spend in each category listed. You can click on the amount to edit the value, +/- Categories to add and remove categories from the list, and Options to copy spend between columns and clear all spend.
Categories
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Options
Add Categories
Search for categories and click 'Add Category' to add it to the calculator. If you want to be more specific, you can specify domestic or international spend.
Type at least 3 characters.
Currently Selected:
Add Categories On Card Change
When you add/change a credit card comparision, the categories missing from the newly added card will be added to the list of categories. Toggle this off to prevent such from happening.
Clear Spend/Mobile
Clear All Spend will clear the spend in all categories in both columns and all saved values (cookies). Clear Mobile will remove the mobile pay option from all categories in both columns.
Copy Spend
Copies all spend amounts and their units of time from one column to the other. Does not copy mobilepay indicator.
Total Earnings
The sum of all spend and bonuses above this line and the cash value of it all.
From Spending
From Bonuses
From Loyalty
Cash Value
Cash value of total earnings based on currency worth.
$0
Monetary Bonuses & Fees
Cash bonuses, annual fees, authorized user fees, and any other listed fees.
Monetary Bonuses
Annual Fee
Auth User Fee
Cash Bonuses
Annual Fee
Auth User 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 based on spend, benefits, and fees.
$0
Total Return
The percent you are earning based on spend, earnings, and fees.

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