Learn How to Apply for a Bank of America Unlimited Cash Rewards Credit Card
Key Features and Requirements of the Bank of America Unlimited Cash Rewards Credit Card
The hallmark of the Bank of America Unlimited Cash Rewards credit card lies in its simplicity. It offers a constant 1.5% cash back on all purchases, which can go up to 2.62%, without charging any annual fee or putting a cap on rewards or a minimum redemption condition.
The accumulated rewards can be redeemed either as a credit towards a card statement or transferred to a linked Bank of America account.
The card’s cashback rates can be enhanced even more for customers who achieve the Gold, Platinum, or Platinum Honors status in the Preferred Rewards program of the bank.
The criteria to qualify for these levels involve maintaining certain asset levels with Merrill or deposit balances with Bank of America; the Gold level requires $50,000 in assets and Platinum Honors needs $100,000.
For those who don’t mind holding investments with Merrill, the Bank of America Unlimited Cash Rewards card transforms into an elite daily cash-back option.
The rewards increase for Preferred Rewards program participants based on their banking relationship tier.
Cardholders maintaining Gold, Platinum, or Platinum Honors status can apply their cashback for statement credits, deposits into their Bank of America accounts, or credits to qualifying Merrill accounts at any time.
Who is Eligible to Apply?
Getting approval for this card can be challenging as it is designed for users with strong to excellent credit scores (over 700).
However, prospective customers can check their prequalification status with Bank of America without having to undergo a hard credit inquiry.
Bank of America caters to existing customers by offering this credit card, making the process easier as they already hold the required data and information.
But, the bank also offers the option for non-account holders to apply for the card. Moreover, the basic prerequisites for Bank of America include being at least 18 years old, possessing legal U.S. status, and having a verifiable income source.
How can I Apply for the Bank of America Unlimited Cash Rewards Credit Card?
Just like other credit cards, an online application is required for this card. If you have an existing BOA login, applying on their website as a guest can be a bit longer. It will require providing some personal details.
The application process might be a bit more lengthy due to its targeted customers being those with excellent credit, but it isn’t overly difficult.
Once the application has been submitted, a short waiting period will follow for the bank to review the application and decide on the card eligibility.
Generally, basic personal information such as name, phone number, address, and email address are needed.
Details regarding income, especially income amounts and expenditure balance, will also be required.
Information about employment status is collected to assess customers’ creditworthiness. During the process, the bank might ask for supporting documents as proof of employment, residential address, and identity.
For those who prefer the traditional application method, they can apply by calling 800.932.2775 and also use the priority code HC02NM.
Additional Information
The Bank of America card offers numerous security features and options, which include fraud detection, overdraft protection, and account alerts.
In terms of usability, the card comes with technology that permits in-app payments and integration with digital wallets for greater convenience.
The entire card management process can be done via the bank’s mobile app.
Furthermore, the Bank of America card provides a $200 bonus after making at least $1,000 in purchases within the first 90 days of card acquisition.
Interested in Other Options?
The North American marketplace offers a broad selection of credit cards, including the Discover It Cash Back Credit Card.
The brand is gradually gaining market share and competing with other industry leaders through its reliable card. For more details about their product, customers can check out their website.
