3/3/2023
Bank of America is one of the leading banks in the United States and among its products it offers a remarkable variety of credit cards, both for its individual customers and for small businesses.
In this article we will analyze the cards for individuals that BofA allows you to contract, how to apply for them and the requirements they ask for in order to approve your application.
How to Apply for a Bank of America Credit Card?
This entity allows you to apply for one of its credit cards whether you are already a customer or you do not have an account with Bank of America. To do so, it offers several alternatives so that you can easily apply:
- Through the Internet. Using its cell phone application.
- At its branches. Bank of America has a large network of thousands of branches in the United States, so you can go to one of them near you to apply for a credit card.
- By phone. Another option is to call 800-221-6650.
Requirements to apply for a BofA credit card
If you want to sign up for a Bank of America card, you must provide your personal information and indicate your annual income.
You may be interested in: How to apply for a Chase Bank card?
Although depending on the card the requirements may vary, especially the income level, these are the conditions that you must meet with all of them:
- Legally reside in the United States. Whether you are a U.S. citizen with citizenship or a foreign national with a green card, your address must be currently in the country.
- Have a Social Security Number.
- Have a regular and demonstrable source of income, such as a paycheck, unemployment benefit, disability or retirement pension.
Bank of America Cash Rewards Credit Cards
Under the name Cash Rewards, this financial institution offers an assortment of cards with cash back on purchases you make. In addition, they offer 18 months interest free for purchases and balance transfers during the first 60 days.
Also, members of Bank of America's Preferred Rewards program will get even more cash back on their purchases, which can increase up to 75%, which would leave 3% cash back at 5.25%.
The cash back on your purchases can be credited to the balance of one of your BofA accounts or as a credit on your card. In addition, these products also have a student version with the same features.
This credit card allows you to customize the categories in which you will receive the maximum cash back on your purchases, resulting in the bonus:
- 3% cash back in one of the following categories: fuel, hotels, flights, online shopping, restaurants, drugstores or furniture.
- 2% cash back on grocery stores and wholesale shopping clubs.
- 1% on all other purchases you pay for with this credit card.
| Bank of America's Customized Cash Rewards features |
| Initial interest rate | 0% APR for the first 18 months for purchases and balance transfers made in the first 60 days. |
| Interest rate | Between 17.49% and 27.49% variable APR for purchases and balance transfers, which will depend on your FICO credit score. |
| Annual fee | $0 |
| Balance transfer | 3% per transfer with a minimum of $10. |
| Welcome offer | Get a $200 bonus if you spend $1,000 during the first 90 days. |
You can check all its features and sign up for this card from the Bank of America website.
This version of the Bank of America card is the same as the personalized Cash Rewards card, including the interest rates, the initial 18 months interest-free and the $200 welcome bonus when you spend $1,000.
The difference with the previous one is that in this case all purchases give you back 1.5% of the amount, without special categories or promotions, always the same refund in an unlimited way.
You can apply and get more information on the Cash Rewards Unlimited credit card website.
BankAmericard® Credit Cards
Bank of America offers this trademarked brand of cards for individuals that come in both classic and secured versions, although these two types only share the name, card design and no maintenance fee, the rest of the features are quite different.
This product offers all the functionality for your purchases, with interest-free payment at the end of the month or payment in installments over several monthly payments with interest.
With this card you will not have refunds on your purchases or a points program, but its interest rates are competitive and you do not pay annuity.
This card also has a version for students, who can apply for it even if they have not started their credit history, and it offers the same features, promotions and interest rates.
| BankAmericard® credit card features |
| Initial interest rate | 0% APR for the first 21 months for all purchases and also for balance transfers you make in the first 60 days. |
| Interest rate | Between 15.49% and 25.49% APR, depending on your credit history, for payments you make with it and for balance transfers. |
| Annual fee | $0 |
| Balance transfer | 3% per transfer with a minimum of $10. |
The secured version of this Bank of America credit card is designed for people who have not yet started their credit history or for those who want to improve their credit score.
In order to contract it, you must leave a deposit of at least $300 and up to $5,000 in the bank as a guarantee. This money will remain as collateral for the secured card, and will serve as coverage in case of non-payment.
In this case, the secured BankAmericard does not have welcome offers or 0% interest rates for the first months. The interest rate will be 25.49% variable APR from the beginning, the maximum offered by its classic version.
Bank of America Travel Rewards Credit Card
This product is quite similar to the Unlimited Cash Rewards offered by the same bank, although in this case, the cash back is in the form of points, getting 1.5 points for every dollar spent on purchases, which is equivalent to 1.5%.
The difference with the points is that you can use them to redeem them on your travels, in addition to obtaining credit on your card for use in hotels, flights, restaurants and other expenses you have when you travel.
| Bank of America Travel Rewards card features |
| Initial interest rate | 0% APR for the first 18 months for all purchases and also for balance transfers you make in the first 60 days. |
| Interest rate | Balance transfers after two months and installment purchases made after 18 months bear interest between 17.49% and 27.49% APR. |
| Annual fee | $0 |
| Balance transfer | 3% per transfer with a minimum of $10. |
| Welcome offer | You will earn 25,000 points (equivalent to $250) if during the first three months you spend at least $1,000 with the card. |
A more in-depth analysis of the Travel Rewards card is available at Nerdwallet.
If you want to apply for a credit card with Bank of America, choose the one that best suits your needs and apply online, by phone or at their offices. On the bank's website you can find all the information in Spanish.
Español: Cómo aplicar para una tarjeta de crédito de Bank of America