Cash Back Calculators: Bank of America Cash Rewards

Bank of America offers a handful of great cash back credit cards. Calculate rewards based on spend and compare results side by side the best credit cards.

Bank of America is an American multinational bank based out of Charlotte, North Caronlina, USA that provides banking and financial products worldwide. They are one of the 'Big Four' banks in the United States.

Bank of America Cash Back Credit Cards

Bank of America offers two cash back credit cards in which both of them allows you to choose a select category to earn 3% cash back spending in.

Both cards are also part of the Preferred Client program in which you can earn up to a 75% cash back bonus based on how much you have invested with Bank of America. With this bonus, you can earn up to 5.25% cash back on your selected category and up to 1.75% on non-category purchases.

If you have money sitting around to invest, the Bank of America Cash Rewards program will be one of the best options for earning cash back rewards.

Bank of America® Customized Cash Rewards credit card
Bank of America® Customized Cash Rewards credit card
Intro Bonus
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
Rewards Rate
3%
Earn 3% cash back in the category of your choice (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases).
2%
Earn automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases).
1%
Earn unlimited 1% on all other purchases.
Main Card Highlights
  • No annual fee
  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
  • Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases
  • 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 13.99% - 23.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers
  • No expiration on rewards
  • If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase
  • Contactless Cards - The security of a chip card, with the convenience of a tap
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
3%
Bank of America® Business Advantage Customized Cash Rewards credit card
Bank of America® Business Advantage Customized Cash Rewards credit card
Intro Bonus
View Issuer's Website
Rewards Rate
3%
Earn 3% cash back on your choice of one of the following six categories: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services (up to $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter)
2%
Earn 2% cash back on dining (up to $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter)
1%
Earn unlimited 1% cash back on all other purchases.
Main Card Highlights
  • Earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier.
  • Redeem your cash back as a deposit into your Bank of America checking or savings account, as a card statement credit or as a check mailed to you.
  • Cash rewards don't expire.
  • No annual fee.
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
3%

Redeeming Bank of America Cash Back

Cash Back earned with Bank of America credit cards can be used in several ways. It can be redeemed in any amount and at any time for statement credits, deposits made directly into a Bank of America checking or savings account, or for credit to an eligible account with Merrill Lynch® or Merrill Edge®. Redemptions for a contribution to a qualifying 529 account with Merrill Lynch or Merrill Edge or for a check start at $25. You can set up automatic redemptions for Bank of America®, Merrill Lynch®, or Merrill Edge® accounts starting at $25.

Bank of America Preferred Rewards Client

Bank of America offers the Preferred Rewards Client and Preferred Rewards Client for Business bonuses for most of their credit cards. This includes:

Your tier in the program is based on your 3-month investments with Bank of America, Merrill Lynch or Merrill Edge. The program offers a long list of benefits, but the one we're focused on is the the rewards bonus which applies to all of the credit cards that are part of the program. The table below breaks down the balance qualifications for each tier and the bonus you'll receive at that tier.

Preferred Rewards Client / Business Advantage Relationship
Tier Balance Requirement Bonus
Gold $20k to <$50k 25% Bonus
Platinum $50k to <$100k 50% Bonus
Platinum Honors $100k+ 75% Bonus

Other Bank of America Calculators

Bank of America offers two Travel Rewards credit cards and one Premium Rewards card. Points can be redeemed for 1 cents each towards a number of redemptions.
Review our top picks for best cash back credit cards and calculate which cards will earn you the best return based on your spend.
Enter how much you spend monthly or yearly across different categories in our calculator and get a list of credit cards best suited for you.
Get matched with personalized offers you're more likely to qualify for based on your credit profile. No impact to your credit score!

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