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ClearValue Cards

Bank of America Unlimited Cash Rewards

Bank of America · Cashback review

Reviewed by ClearValue Editorial Team · Schumer Box terms as of
Best for Bank of America and Merrill customers wi
Bank of America
Solid pick

Bank of America Unlimited Cash Rewards

82
/100
Annual fee
$0
Ongoing APR
17.49–27.49%
Intro APR
0% intro APR on purchases and balance transfers for 15 billing cycles
Best for

Bank of America and Merrill customers with Preferred Rewards status — the 1

Fees sourced from issuer terms · 2026-07-08

ClearValue score
82/100
Solid pick

Bank of America and Merrill customers with Preferred Rewards status — the 1

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Sorted by score, never commission

Annual fee

$0

No annual fee, every year

Ongoing APR

17.49% – 27.49% variable

Variable — verify the current range at the issuer

Intro APR

0% intro APR on purchases and balance transfers for 15 billing cycles

Then the ongoing APR applies

As of July 8, 2026

Best for

Bank of America and Merrill customers with Preferred Rewards status — the 1.5% base rate scales 25–75% higher at the deposit tiers, reaching an effective 2.625% flat at Platinum Honors ($100K+ in qualifying balances). A 15-month 0% intro APR rounds it out.

Not for

Anyone without Preferred Rewards status (the plain 1.5% is beaten by 2% no-fee cards) and international travelers — the 3% foreign transaction fee rules it out abroad.

The catch

The headline value lives entirely in the Preferred Rewards multiplier, which requires large balances parked at BofA/Merrill. Without that relationship you're holding a 1.5% flat card (2% in year one, then it steps down) with a 3% FX fee.

Card facts

Sourced from the issuer's published Schumer Box and terms — confirm current numbers at the issuer.

Product specs

Annual fee
$0
Intro APR
0% intro APR on purchases and balance transfers for 15 billing cycles
Ongoing APR
17.49% – 27.49% variable
Foreign transaction fee
3%
Balance transfer fee
See issuer terms
Schumer Box verified
July 8, 2026

How we scored this card

See our published methodology — 5 dimensions, 0–20 each, 100-point total.

Effective rewards rate15 / 20
Fee structure19 / 20
Audience fit15 / 20
Transparency and trust17 / 20
Honest weakness named16 / 20
Total82 / 100 · Solid pick

Frequently asked

Does the Bank of America Unlimited Cash Rewards charge an annual fee?

No. The Bank of America Unlimited Cash Rewards carries a $0 annual fee, sourced from the issuer's published Schumer Box as of July 8, 2026. Rates change — confirm the current terms at the issuer.

What APR does the Bank of America Unlimited Cash Rewards charge?

17.49% – 27.49% variable. There is also an intro rate: 0% intro APR on purchases and balance transfers for 15 billing cycles. APRs are variable and set by the issuer — confirm the current range on the issuer's Schumer Box before you commit.

Does the Bank of America Unlimited Cash Rewards charge foreign transaction fees?

Yes — 3% per purchase made outside the U.S. Factor that in if you travel or shop internationally.

Who is the Bank of America Unlimited Cash Rewards best for?

Bank of America and Merrill customers with Preferred Rewards status — the 1.5% base rate scales 25–75% higher at the deposit tiers, reaching an effective 2.625% flat at Platinum Honors ($100K+ in qualifying balances). A 15-month 0% intro APR rounds it out.

Who should skip the Bank of America Unlimited Cash Rewards?

Anyone without Preferred Rewards status (the plain 1.5% is beaten by 2% no-fee cards) and international travelers — the 3% foreign transaction fee rules it out abroad.

How did ClearValue score the Bank of America Unlimited Cash Rewards?

Bank of America Unlimited Cash Rewards scored 82/100 — "Solid pick". We score every card across five dimensions (effective rewards, fee structure, audience fit, transparency, and whether an honest weakness is named), 0–20 each. Scores are never influenced by commission. See our methodology for the full rubric.

Alternatives to the Bank of America Unlimited Cash Rewards

Other cashback cards we've scored, ranked by our methodology.

This is an independent editorial review. This page carries no partner link and earns nothing from what you read here — our scoring is never influenced by compensation, and reflects only our published rubric. When you use our match tool, we may be paid by a partner (CardRatings) if you continue with a card from there. See our methodology and disclosure.
Bank of America Unlimited Cash Rewards
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