Bank of America offers several credit cards with no annual fee, though the card that fits you depends on whether you want cash back, travel rewards, or just a basic option.
Bank of America's no-annual-fee lineup includes the Bank of America Cash Rewards card (1% cash back on all purchases, 2% at gas stations and restaurants, 3% at grocery stores for the first $2,500 per quarter), the Bank of America Travel Rewards card (1.5 points per dollar on all purchases), and the Bank of America Customized Cash Rewards card (which lets you choose your own cash-back category at 2% or 3%). All three carry no annual fee and no foreign transaction fees.
If you want the simplest option with no rewards at all, Bank of America also offers basic checking-linked cards and secured credit cards for people building credit, though these are not marketed as premium products. The no-fee cards above are the main consumer options.
Key Takeaways
- Bank of America's Cash Rewards and Travel Rewards cards both carry no annual fee and work for everyday spending.
- The Cash Rewards card pays higher percentages at grocery stores, gas stations, and restaurants; the Travel Rewards card pays a flat rate everywhere.
- All three no-fee cards waive foreign transaction fees, which matters if you travel outside the United States.
- You can compare these cards side by side on Bank of America's website or call 1-800-432-1000 to discuss which fits your spending pattern.
How Bank of America's cash-back cards work
The Cash Rewards card earns cash back in categories: 3% at grocery stores (capped at $2,500 per quarter, then 1% after), 2% at gas stations and restaurants, and 1% on everything else. You can redeem cash back as a statement credit, a transfer to your Bank of America checking or savings account, or a check. There is no minimum redemption amount and no expiration date on the cash back you earn.
The Customized Cash Rewards card lets you pick one category to earn 2% or 3% cash back on (you choose from gas, groceries, dining, travel, drug stores, or home improvement), then earns 1% on all other purchases. This card is useful if your spending is heavily concentrated in one category that is not grocery stores or restaurants.
Both cards report to the three major credit bureaus, so on-time payments help build your credit history. There is no grace period on cash advances, which means interest starts accruing immediately if you use the card to withdraw cash.
How Bank of America's travel rewards card works
The Travel Rewards card earns 1.5 points per dollar on every purchase, with no bonus categories and no caps. Points do not expire as long as your account remains open. You can redeem points for statement credits toward travel purchases (flights, hotels, rental cars, cruises), transfer them to partner airlines and hotels at a 1-to-1 rate, or redeem them for cash back at 1 cent per point.
This card is simpler than the cash-back cards if you do not want to track different earning rates across categories. The trade-off is that you earn less per dollar at grocery stores and gas stations than you would with the Cash Rewards card, but more on other purchases like clothing or utilities.
Annual fees and other costs to know
None of Bank of America's three no-fee cards charge an annual fee, a foreign transaction fee, or a fee to add an authorized user. However, they do charge standard fees for other actions: a cash advance fee (3% of the amount, with a $10 minimum), a late payment fee (up to $39 depending on how late), and an over-limit fee if you exceed your credit limit (up to $35, though this only applies if you opt in to over-limit protection).
If you carry a balance, the cards charge interest at a variable rate that depends on your creditworthiness and current market rates. Bank of America does not publish a single APR; instead, it publishes a range (for example, 16.99% to 26.99%), and your actual rate falls somewhere in that range based on your credit score and history. You can ask about your specific rate before you open the card.
How to compare these cards to each other
To decide between them, look at your spending over the last three months. Add up what you spent on groceries, gas, restaurants, and everything else. If groceries and dining make up more than 30% of your spending, the Cash Rewards card will earn you more. If your spending is spread evenly across categories, the Travel Rewards card is simpler. If one category (like gas or home improvement) dominates, the Customized Cash Rewards card may be the best fit.
The table below shows the key differences at a glance. Each card has the same $0 annual fee, but they differ in how they reward you for spending. Your choice depends on whether you want to maximize rewards in specific categories, pick your own category, or earn a flat rate everywhere.
| Card | Annual Fee | Earning Structure | Best For |
|---|---|---|---|
| Cash Rewards | $0 | 3% groceries (capped), 2% gas/restaurants, 1% other | People who spend heavily on groceries and dining |
| Customized Cash Rewards | $0 | 2–3% in one category you choose, 1% other | People with concentrated spending in one category |
| Travel Rewards | $0 | 1.5 points per dollar on all purchases | People who want simplicity and travel flexibility |
How to open a Bank of America credit card
You can open any of these cards online at bankofamerica.com, by phone at 1-800-432-1000, or in person at a Bank of America branch. Online applications usually take 5 to 10 minutes. Bank of America will pull your credit report (a hard inquiry, which temporarily lowers your credit score by a few points) and give you a decision within seconds to a few minutes in most cases.
If you are approved, your card ships within 7 to 10 business days. If you are denied, Bank of America will mail you a letter explaining why. You can call the reconsideration line at 1-800-432-1000 to ask if they will reconsider, especially if you have a Bank of America checking account or recent positive history with the bank. If you already have a Bank of America checking or savings account, you may see a pre-approved offer in your online banking portal or in the mail, which usually means a faster decision and sometimes higher approval odds.
What happens if you do not may have access to for a no-fee card
If Bank of America denies you for one of these cards, you have a few options. You can ask about the Bank of America Secured Credit Card, which requires a cash deposit (usually $500 to $2,500) that serves as your credit limit. This card also has no annual fee and reports to the credit bureaus, so it can help you build credit if you make on-time payments. After 12 months of on-time payments, you may be able to convert it to an unsecured card and get your deposit back.
You can also wait a few months and reapply. Each hard inquiry stays on your credit report for about a year, but its impact on your score fades after a few months. Paying down existing balances and making on-time payments will also improve your score over time, which increases your chances of approval on a future application.
Frequently Asked Questions
Do I need a Bank of America checking account to open one of these cards?
No. You can open a credit card without a checking account. However, if you already have a Bank of America checking account, you may see better offers or faster approval, and you can link the card to your account for easier payment and cash-back redemption.
Can I switch between these cards after I open one?
Yes. You can ask Bank of America to convert one card to another (called a product change) without closing the original account or applying again. This keeps your credit history intact. Call the number on the back of your card to ask about converting.
What credit score do I need to open one of these cards?
Bank of America does not publish a minimum credit score, but these cards typically go to people with good to excellent credit (670 or higher). If your score is lower, the Secured Credit Card may be a better starting point.
Do these cards have a sign-up bonus?
Bank of America's no-fee cards do not offer sign-up bonuses like some competitors do. You earn rewards only on purchases you make after the card opens. If a sign-up bonus matters to you, you may want to compare these to cards from other banks.
What if I want to cancel my card later?
You can cancel anytime by calling the number on the back of your card. There is no penalty for canceling a no-fee card. However, closing the card will lower your credit score slightly because it reduces your available credit and shortens your average account age, so cancel only if you are sure you will not use it.