Bank of America Credit Card Suite: Which Card Fits Your Wallet?

Bank of America offers cash back cards for everyday spending, travel cards with no annual fee, and premium cards with lounge access and statement credits. Several cards also earn more through BofA Rewards™, making your existing banking relationship part of the comparison.

Start with the purchases you make most often and how you want to use your rewards. A selectable category can work well for online shopping, while a flat-rate card is easier to manage across a varied budget. For travel cards, weigh the annual fee against benefits you already use.

Summary: Bank of America credit cards

• Bank of America® Customized Cash Rewards credit card: a good option for a useful everyday spending category, provided the shared quarterly purchase cap fits your budget.
• Bank of America® Unlimited Cash Rewards credit card: straightforward cash back on purchases across many categories.
• Bank of America® Travel Rewards credit card: no annual fee and no foreign transaction fees, with points for eligible travel and dining statement credits.
• Bank of America® Premium Rewards® credit card: higher travel and dining earnings plus travel benefits for a $95 annual fee.
• Bank of America® Premium Rewards® Elite credit card: lounge access and additional benefits for travelers who can justify the $550 annual fee.

Bank of America credit cards at a glance

These are the core consumer rewards cards. Compare their annual fees and everyday uses, then review the earning rules and BofA Rewards bonuses below.

Annual fees are only part of the decision. Compare the rewards you expect to redeem with any account costs, foreign transaction fees, and spending needed to use a benefit.

Bank of America® Customized Cash Rewards credit card

The Bank of America® Customized Cash Rewards credit card is a card to consider first for online shopping or another concentrated spending category.

Cash back rates

• First year from account opening: Earn 6% cash back in your selected choice category and 2% at grocery stores and wholesale clubs. These rates share a $2,500 cap in combined choice-category, grocery store and wholesale club purchases each quarter, then those purchases earn unlimited 1%. The 6% rate includes the standard 3% plus an additional 3% first-year choice-category bonus.
• After the first year: Earn 3% cash back in your selected choice category and 2% at grocery stores and wholesale clubs on the first $2,500 in combined purchases across those categories each quarter, then unlimited 1% thereafter.
• All other purchases: Earn unlimited 1% cash back.
• BofA Rewards: Your eligible standard rewards can earn a relationship bonus. That bonus does not apply to the additional 3% first-year choice-category bonus, which applies only to the selected category.

Choice categories

Choose one of six categories. You can change your selection once per calendar month for future purchases; otherwise, your existing selection stays the same.

• Gas and EV charging stations
• Online shopping, including cable, internet, phone plans and streaming
• Dining
• Travel
• Drug stores and pharmacies
• Home improvement and furnishings

When the card makes sense

The card works best when a useful choice category fits your budget and your combined spending stays within the quarterly cap. Grocery and wholesale club purchases use capacity you might otherwise allocate to the selected category. A large furniture purchase can also consume most of a quarter’s capacity immediately.

Compare the cap with your recent statements to see how much of your spending would earn the higher rate. Merchant coding affects qualification. Our Customized Cash Rewards review covers category restrictions and redemptions in more detail.

Bank of America® Unlimited Cash Rewards credit card

The Bank of America® Unlimited Cash Rewards credit card earns an ongoing 1.5% cash back on purchases, with no rewards cap and no annual fee. It suits someone whose spending is spread across many merchants and who wants straightforward cash rewards.

Compare this card with other flat-rate options using your BofA Rewards tier. A relationship bonus can improve the return, so use your actual earning rate when comparing cards.

The practical appeal is consistency. You do not need to select a monthly category, and you do not need to reserve a quarterly allowance for one type of purchase. It can also handle spending that falls outside Customized Cash Rewards’ selected category.

Cash rewards can be redeemed for a statement credit or a deposit into an eligible Bank of America checking or savings account.

Bank of America® Travel Rewards credit card

The Bank of America® Travel Rewards credit card earns an unlimited 1.5 points per $1 spent on purchases. It has no annual fee and no foreign transaction fees. Points can offset eligible travel and dining purchases through statement credits.

That combination makes it worth a look for occasional travelers who want a simple card to use abroad. You can book travel where you prefer, then redeem against qualifying charges. Check redemption eligibility and value before deciding how much the points are worth to you.

Compare Travel Rewards with Unlimited Cash Rewards based on how you expect to redeem. Cash back offers more flexibility, while travel statement credits may suit someone who regularly has eligible charges.

Bank of America® Premium Rewards® credit card

The Bank of America® Premium Rewards® credit card earns 2 points per $1 spent on travel and dining and 1.5 points per $1 spent on other purchases. The annual fee is $95, and the card has no foreign transaction fees.

Benefits include up to $100 in airline incidental statement credits annually for qualifying purchases, such as baggage fees, eligible seat upgrades, and lounge fees. It also provides up to $100 toward eligible TSA PreCheck® or Global Entry application fees every four years. Terms apply; an application-fee benefit available every four years should not be counted as a fresh annual credit.

This card is worth considering if travel and dining are meaningful parts of your budget and you already pay qualifying airline incidentals. Give the incidental credit only the value it replaces in your normal spending. An unused credit does nothing to offset the annual fee.

Premium Rewards also offers cash redemption options, which may appeal to someone who wants travel-category earnings without planning airline award bookings. Compare the extra rewards and benefits with the annual fee before choosing it over a no-annual-fee card.

Bank of America® Premium Rewards® Elite credit card

The Bank of America® Premium Rewards® Elite credit card has a $550 annual fee. Its standard purchase earnings match Premium Rewards: 2 points per $1 spent on travel and dining, and 1.5 points per $1 spent on other purchases. It has no foreign transaction fees. All information about the Bank of America® Premium Rewards® Elite credit card has been independently collected by AskSebby.com.

The additional value comes from benefits. These include up to $300 annually in qualifying airline incidental statement credits, up to $150 annually in eligible lifestyle statement credits, and up to four complimentary Priority Pass™ Select memberships. Enrollment and benefit terms apply.

Elite also provides 20% savings on airfare paid for with points through BofA Travel or the Concierge. The booking method matters; compare the ticket price and itinerary with what you would otherwise book.

Before choosing Elite, compare its additional benefits with the $455 annual-fee difference from Premium Rewards. Consider which lounge memberships you would use and which eligible expenses the credits would replace. Avoid adding the full face value of benefits that overlap with another card or encourage extra spending.

How BofA Rewards changes your card earnings

BofA Rewards is the current consumer relationship program. Enrollment requires an open, qualifying Bank of America personal checking account. Standard tiers generally depend on the combined three-month average balance in qualifying Bank of America deposit and Merrill investment accounts.

The bonus applies to eligible card rewards; it does not multiply every promotion. For example, a 50% bonus turns an eligible 1.5% cash-back rate into 2.25%, before account-specific posting and rounding rules.

Consumer Preferred Rewards was the predecessor program. Some existing accounts have extended legacy credit card benefits, so check your signed-in account before projecting future earnings. Our BofA Rewards program guide explains the current tiers and transition.

Compare the full cost of a banking move with the extra rewards. Extra card rewards have to justify account fees, investment costs, and any return you give up on your cash. A tier you already maintain is easier to evaluate than one that requires changing your finances.

Where airline cards fit in the suite

Bank of America also issues airline cards, including the Atmos™ Rewards Ascent Visa Signature® credit card, Atmos™ Rewards Summit Visa Infinite® credit card, and Air France KLM Visa Signature® credit card.

Choose an airline card around the program you use and the benefits you expect to redeem. Start with your home airport, usual routes, and whether award availability matches your travel plans. Award availability and redemption costs affect how useful the points will be for your trips.

Two-card combinations worth comparing

Customized Cash Rewards earns cash back, which cannot be converted into Travel Rewards or Premium Rewards points. Redeem that cash back separately. The value of these pairings comes from using each card for purchases where its earning rates and fees fit your needs.

For domestic cash back: pair Customized Cash Rewards for eligible category purchases with Unlimited Cash Rewards for other spending. Track the shared quarterly cap on Customized Cash Rewards and compare the cards again after reaching it. This is the clearest fit for someone who wants cash back and is comfortable managing a category.

For category spending and regular travel: pair Customized Cash Rewards for suitable domestic category purchases with Premium Rewards for travel, dining, other everyday spending and purchases abroad. Premium Rewards has no foreign transaction fees. Its additional rewards and benefits need to justify the $95 annual fee for your spending. The Customized Cash Rewards cash back remains separate from the Premium Rewards points.

A narrower option for occasional international spending: Customized Cash Rewards plus Travel Rewards can cover domestic category purchases and spending abroad without an annual fee on either card. Customized Cash Rewards charges a foreign transaction fee of 3% of the U.S. dollar amount of each transaction made in a foreign currency; Travel Rewards has no foreign transaction fees. Travel Rewards points can offset eligible travel and dining purchases through statement credits. If you already have a card that handles overseas purchases well, this pairing may add little to your wallet.

Start with one card and add a second only when it improves the return on purchases you already make or fills a gap in your existing cards.

Bank of America credit card FAQ

Which Bank of America card should I compare first?

Start with Customized Cash Rewards if a selected category fits your spending and you can manage its shared quarterly cap. Compare Unlimited Cash Rewards if you prefer one consistent cash back rate. Travel Rewards adds a useful no foreign transaction fee option without an annual fee.

Does Customized Cash Rewards have a separate cap for groceries?

No. Choice-category, grocery store, and wholesale club purchases share one $2,500 purchase cap each quarter. The first-year 6% choice-category rate and 2% grocery/wholesale-club rate apply within that cap, then 1% thereafter. After the first-year bonus ends, those rates are 3% and 2% within the same cap, then 1%. Applicable BofA Rewards bonuses increase eligible standard rewards.

Do I need a bank account to earn ordinary card rewards?

A card’s standard purchase rewards and BofA Rewards enrollment are separate. BofA Rewards requires an open, qualifying personal checking account. Our BofA Rewards program guide explains enrollment and benefit requirements.

Is Preferred Rewards still the consumer program?

BofA Rewards replaced consumer Preferred Rewards in 2026. Existing accounts may retain extended legacy card benefits. The BofA Rewards launch announcement explains the program’s introduction.

Should I choose Premium Rewards Elite over Premium Rewards?

Choose based on the benefits you will actually use. Their standard purchase earning rates match, while Elite charges a higher annual fee. Compare lounge use, eligible credits, and airfare redemption value with that extra cost.

How often can I change the Customized Cash Rewards choice category?

You can change the choice category once per calendar month through Online Banking or the Mobile Banking app. The change applies to future purchases. If you make no change, your existing selection stays the same.