BankAmericard Cash Rewards Credit Card Review of April 2024

Last Update: March 12, 2023 • Credit Card Reviews •

If you have a Bank of America bank account and want a rewards card that allows you to get up to 3% cash back on purchases, then the BankAmericard Cash Rewards Visa is for you.

Benefits:

You pay the full balance every month.
You spend around $500 a month on combined groceries and gas.
You have a Bank of America bank account and are a Preferred Rewards member.

If you don’t do these things, it doesn’t mean that this card isn’t right for you! Cashback is something everyone loves, and you will surely love it too.

People have this to say about the BankAmericard Cash Rewards card:

“Getting rewards back every time I use it is a big bonus that makes me feel better when I shop.” Alan B, NerdWallet.

Some Excellent Features of The Cash Rewards Card Include

A $100 cash rewards bonus after spending your first $500 within 90 days. This is a nice little bonus and can help you buy a gift for someone, or possibly something nice for yourself.
1% Cash Rewards on all purchases. That means for every $1,000 you spend. You’ll get $10 back. If you pay off your card monthly, it’s like getting paid for getting what you want. This reward has no limit, so the more you spend, the more you earn!
2% Cash Rewards on Groceries and 3% Cash Rewards on gas for the first $1,500 spent on groceries and gas combined, each quarter. You can get $45 cash back every three months, again for getting what you want. Free money adds up over time, and you could end up with the equivalent of a FREE month of groceries.
An added 10% customer bonus if you add your BankAmericard Cash Rewards to your Bank of America account. More free money, what more could you want?
With a Preferred Rewards account, you could increase that customer bonus up to 75%! This will nearly DOUBLE the amount of money you earn from your cashback card. With a total of 1.75% cashback on all purchases, the reward is greater than nearly any card out there!
Rewards NEVER expire. Your BankAmericard Cash Rewards will always be in your account, and they’ll never disappear. No rush to spend them!
No Annual Fee. Pay only what you pay for, and not just to use the card.
0% Introductory APR. For 12 months, pay no interest on purchases. No need to worry about interest for 12 months!
0% APR on balance transfers for the first 60 days. Safely transfer your existing balance to your BankAmericard Cash Rewards card without any interest fees!
Low APR after. APR is variable, starting at 12.99% on all purchases and bank transfers. No need to worry if you can’t pay your balance in full: your finance charges will be minimal.
Includes chip technology for chip-enabled machines. This ensures security and prevents people from being able to skim your card.
With this card, you’ll earn many rewards with every dollar you spend on purchases, and you can redeem your points for any travel purchase.

How Does it Compare to Other Cash Back Cards?

CapitalOne Quicksilver Cash Back Rewards Card

Offered by CapitalOne, this card is a great choice for those who desire cashback rewards. It’s very similar to the Bank Americard Cash Rewards card, but it has some differences.

No annual fee.
Same $100 bonus on first $500 of purchases within first 90 days.
No rotating categories. All category bonuses stay the same year.
Unlimited 1.5% cashback on all purchases, compared to Bank Americard 1%.
No gas or grocery bonuses, compared to 2% on grocery and 3% on gas.
No foreign transaction fee.

The CapitalOne Quicksilver Cash Back Rewards Card gives a larger bonus on purchases, with no limits. No foreign transaction fee makes traveling easier on the mind. And, just like the BankAmericard Cash Rewards card, there are no rotating categories, meaning that all category bonuses remain the same year-round, and there’s no reason to change your purchase habits to get cashback.

However, you miss out on the extra rewards you get for spending on essentials, like gas and groceries.

This card might be better for you if you put a large amount of spend on your card every month and pay it off monthly. If you spend less on essentials than you do on other purchases, this card will give you more cash back.

We will do an in-depth review of this card. Join our e-mail list to stay tuned!

Chase Freedom Cash Back Rewards Card

Offered by Chase Bank, this card is yet another popular choice for cashback cards. How does it stack up compared to the Bank Americard?

Same $100 bonus on first $500 of purchases within first 90 days.
No annual fee.
1% cashback.
Total 5% cashback on bonus categories each quarter (up to $1,500 in spend).

The main difference is the extra rewards that the Chase Freedom Cash Back Rewards card gives. Whereas the Bank Americard Cash Rewards card gives 2% on groceries and 3% on gas (essential purchases), the Chase Freedom Cash Back Rewards card offers 5% on different categories every quarter.

This allows you to get extra cashback from certain places but might not reflect actual purchase behavior. You might be encouraged to spend money on things you do not need.

However, if you want or need items from those categories, the extra cashback can add up!

We will do an in-depth review of this card. Join our e-mail list to stay tuned!

Should I Get The Bank Americard Cash Back Card?

If you:

Want unlimited cash back on all your purchases;
Spend around $500 a month on gas and groceries;
Want no annual fee;
Have a Bank of America bank account;
Are a Preferred Rewards member.

…then this card is perfect for you!

In summary, this card is one of the best cashback cards on the market today, with no annual fee, a low APR, and bonuses for buying what you are already buying.