No categories, no spending caps, no annual fee: here’s what the Bank of America Unlimited Cash Rewards card pays on every purchase from day one.
October 25, 2026
The Bank of America® Unlimited Cash Rewards credit card pairs a flat, unlimited 1.5% cash back rate on every purchase with a current $250 cash rewards bonus offer online cash rewards bonus for new cardholders, all with no annual fee. There are no rotating categories to track and no spending caps on the cash back rate itself.
Cash back is a big part of the rewards market. According to the Consumer Financial Protection Bureau's (CFPB) 2025 Consumer Credit Card Market Report, consumers earned $47.5 billion in credit card rewards in 2024, and cash-back cards accounted for $16.6 billion of that.
If you want a consistent way to earn rewards, here's what this card pays, what it costs, and how the numbers work.
Feature | Details |
|---|---|
Welcome Bonus | Limited Time Offer! $250 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. |
Cash Back Rate | Unlimited 1.5% on every purchase, no categories or activation required |
Annual Fee | $0 |
Rewards Expiration | None, as long as the account remains open |
Redemption Options | Statement credit, deposit to an eligible Bank of America checking or savings account, or purchases at Amazon.com or via PayPal |
Intro APR | 0% for 15 billing cycles on purchases and balance transfers made within 60 days |
Standard APR After Intro | 17.74% - 27.74% |
Balance Transfer Fee | 3% intro fee for the first 60 days, 5% on transfers made afterward |
Credit Score Needed | 670-850 (Good to Excellent) |
New cardholders can earn a $250 cash rewards bonus offer online cash rewards bonus after spending at least $1,000 in the first 90 days. Bank of America is offering it as a limited-time bump over the card's standard $200 bonus.
Once you meet the spending requirement, the bonus posts as an online cash rewards bonus and redeems the same way as any other cash back you earn on the card.
Troy Johnston, founder and CEO of StackEasy.ai, a credit card management app for people who carry several cards, manages 28 credit cards himself. He says a modest bonus can matter more than a card's ongoing rate, depending on your situation.
When a modest bonus should win: when the cardholder has a large planned purchase that clears the threshold on its own, keeps ongoing spend low, and already holds a strong everyday card. A $250 bonus equals 1.5% cash back on about $16,667 of spending, so someone who will not put that much through a new card in a year is better off taking the bonus and keeping their existing card for daily spend.
That math is worth running before you apply, since the true value of a welcome bonus depends on what the card pays you after the first 90 days.
There's no category to choose and nothing to activate. Every purchase, from groceries to gas to a subscription renewal, earns the same unlimited 1.5% cash back. That simplicity is one of the card's greatest advantages. It won't out-earn a category card in that category's best quarter, but it also never requires tracking which purchases qualify for which rate.
That's the trade-off between a flat-rate card and a bonus-category one. If tracking categories sounds like more work than it's worth, a simpler cash back strategy may suit you better.
The card charges a $0 annual fee, so the 1.5% rate and the $250 cash rewards bonus offer bonus both add value with no "cost to play" working against them. There's no minimum spending threshold required just to keep the account open and earning.
Just make sure you're redeeming those well-earned rewards, says Johnston.
"Unredeemed cash back earns nothing, and it sits exposed to program changes or account closure. The factors that argue for waiting are a minimum redemption amount you have not reached, or a redemption option that pays a premium, and those are the exceptions," explains Johnston. "Default to redeeming every statement."
You can redeem cash rewards at any time, in any amount, in one of three ways:
Statement credit: Applies your cash back directly against your card balance.
Bank deposit: Sends it to an eligible Bank of America checking or savings account.
Amazon.com or PayPal: Uses it toward purchases at either one.
Rewards don't expire as long as the account stays open, so there's no pressure to redeem on a schedule.
The smartest redemption, according to Johnston, is to point it at a balance or a goal, not a gift card. "Redeeming as a statement credit against a card that carries interest is worth the APR on that balance, which is far more than the face value," he says. "Redeeming into a savings account turns rewards into an emergency fund. The meaning is in what the cash back retires or builds, not the dollar figure on the screen."
Cardholders enrolled in BofA Rewards™ can earn a bonus on top of the card's standard 1.5% rate, based on their broader banking and investing relationship with Bank of America. The bonus rewards rate applies automatically to eligible purchases for enrolled cardholders.
New accounts get a 0% intro APR for the first 15 billing cycles on:
Purchases: Starts when you open the account.
Balance transfers: Only for transfers made within the first 60 days.
Balance transfers carry a 3% fee during that same 60-day window, then 5% for transfers made afterward. You can't use a balance transfer to pay off another Bank of America account.
Once the intro period ends, an APR of 17.74% - 27.74% applies to any remaining balance.
What is the current welcome bonus on the Unlimited Cash Rewards card?
A $250 cash rewards bonus offer online cash rewards bonus after spending at least $1,000 in purchases within the first 90 days of account opening. This is a limited-time offer and may change.
What cash back rate does the card earn?
Unlimited 1.5% cash back on every purchase, with no bonus categories or spending caps.
Does the card charge an annual fee?
No, the card doesn't charge an annual fee.
How can I redeem my cash back?
Cardholders can redeem their cash back as a statement credit, a deposit into an eligible Bank of America checking or savings account, or toward purchases at Amazon.com or through PayPal.
Bank of America: Unlimited Cash Rewards credit card product page, current welcome offer, rewards rate, and terms
Bank of America: Unlimited Cash Rewards terms and conditions
Consumer Financial Protection Bureau: The Consumer Credit Card Market (2025), total rewards earned in 2024
Jennifer Calonia writes for BestMoney.com and has years of experience as a personal finance writer, editor, and founder of Blue Poppy Media LLC. She specializes in transforming complex money topics into accessible, educational content that helps readers confidently navigate their financial decisions.
