All Bank of America Credit Cards (14)
Bank of America cards reward existing banking customers through the Preferred Rewards program — boosting cash back by 25-75% for customers with $20K-$100K+ in combined BofA and Merrill accounts. The Customized Cash Rewards card (choose your 3% category) is unusually flexible. Without Preferred Rewards status, most BoA cards are average; with Platinum Honors status, they become elite.
Application Rules & Restrictions
Understanding these issuer-specific rules helps you time applications strategically and maximize welcome bonus eligibility.
- 2/2/3 Rule: Maximum 2 cards per 2 months, 3 cards per 12 months.
- 24-Month Rule (Unlimited Cash): Welcome bonuses on some BoA cards require 24 months between applications for the same card.
- Hard Pull: Typically pulls Experian, sometimes TransUnion.
- Preferred Rewards Unlock: Full value requires maintaining $20K+ in BofA/Merrill accounts.
Frequently Asked Questions
What is Bank of America Preferred Rewards?
Preferred Rewards is BofA's loyalty program for banking customers. With $20K+ in combined BofA checking/savings and Merrill investments, you reach Gold status (25% bonus). At $50K you get Platinum (50% bonus), and at $100K you get Platinum Honors (75% boost). A card earning 3% on dining becomes 5.25% with Platinum Honors.
Is BofA good for cash back?
With Preferred Rewards Platinum Honors, BofA offers some of the highest effective rates available — the Customized Cash Rewards effectively earns 5.25% in your chosen category. Without Preferred Rewards, other issuers are generally more competitive.
What's the best Bank of America card?
For Preferred Rewards members: Customized Cash Rewards (choose your top category) or Travel Rewards (unlimited travel points). For premium travelers: Premium Rewards Elite ($550/yr) with $300 airline credit and Visa Infinite benefits. For everyone else, consider Chase or Citi.
Does BofA have foreign transaction fees?
The Travel Rewards and Premium Rewards cards have no foreign transaction fees. Most other BofA cards charge a 3% fee on international purchases. Always check before traveling internationally.
Can I upgrade my BofA card?
Yes, BofA allows product changes between most cards. You can typically upgrade from a no-fee card to a premium card or switch between cash back and travel rewards cards without a new application, preserving your credit history.