Where It Wins, Where It Doesn't
Generated from the card's data against our full catalog, not editorial opinion.
- 3x on gas (catalog median is 2x)
- 3x on online shopping (catalog median is 1x)
- 3x on amazon (catalog median is 1x)
- No annual fee
- Non-bonus spending earns only 1x
What It Earns
Net annual value (rewards + credits at typical usage, minus the fee) at three reference spending profiles. Signup bonuses excluded.
Everyday
Groceries, gas, and dining out a few times a month ($24,000/yr)
+$408/yr
$408 rewards
Foodie
Heavy dining and delivery, lighter on travel ($26,000/yr)
+$368/yr
$368 rewards
Traveler
Several trips a year with flights and hotels ($28,000/yr)
+$328/yr
$328 rewards
Rewards by Category
Dining
1x
Grocery
2x
Gas
3x
Flights
1x
Hotels
1x
Other Travel
1x
Online Shopping
3x
Rideshare
1x
Streaming
1x
Amazon
3x
Costco
2x
Other
1x
Apple
1x
Cell Phone
1x
Fast Food
1x
Home Utilities
1x
Internet
1x
Walmart
1x
Point value: 1.0 cents per point
The Fine Print That Changes the Math
3% in a category of your choice (gas, online shopping, dining, travel, drug stores, home improvement), 2% at grocery/wholesale clubs, 1% elsewhere. Preferred Rewards customers can earn 25-75% more.
Bank of America Cash Rewards FAQ
What is the Bank of America Cash Rewards annual fee?
The Bank of America Cash Rewards has no annual fee.
What is the Bank of America Cash Rewards signup bonus?
20,000 dollars for new cardholders meeting the minimum spend. Check the issuer's site for the current offer.
What are the best spending categories for the Bank of America Cash Rewards?
3x on gas, 3x on online shopping, 3x on amazon. Everything else earns 1x.
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