Bank of America
Existing Bank of America and Merrill Lynch customers with significant balances who can unlock Preferred Rewards boosted earning rates.
About Bank of America
Bank of America offers solid credit card options that become significantly more rewarding for existing banking customers through the Preferred Rewards program. With up to 75% bonus on rewards earning, BofA cards can deliver exceptional value for loyal customers.
122+
Years in Business
2
Cards in Lineup
5
Special Rules
Strengths
- Preferred Rewards program can boost earning rates by up to 75%
- Choose-your-own 3% category on Customized Cash card
- No-annual-fee cards with competitive base rewards
- Strong banking relationship benefits (combined accounts)
- Nationwide branch and ATM network
- Good fraud protection and security features
Weaknesses
- Base rewards rates are uncompetitive without Preferred Rewards status
- Platinum Honors tier requires $100K+ in combined balances
- Limited premium or travel-focused card options
- Application velocity rules are restrictive (2/3/4)
- Foreign transaction fees on most cards
- Fewer transfer partners compared to Chase, Amex, or Citi
Special Rules to Know
2/3/4 Rule: Bank of America limits you to 2 new cards in 2 months, 3 in 12 months, and 4 in 24 months.
Preferred Rewards tiers boost cash back by 25% (Gold), 50% (Platinum), or 75% (Platinum Honors) based on combined bank and investment balances.
Platinum Honors requires $100,000+ in combined Bank of America and Merrill accounts.
Product changes between Bank of America cards are generally available.
Bank of America may be more conservative with initial credit limits.
Cards from Bank of America
Best For
Existing Bank of America and Merrill Lynch customers with significant balances who can unlock Preferred Rewards boosted earning rates.