Best Bank of America Credit Card Offers

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Updated: 3 days ago

From straight cash-back cards to no annual fee cards to more premium cards, Bank of America has an assortment of credit cards to choose from. The co-branded Alaska cards are an OMAAT favorite (especially given all the great ways to use Alaska miles), but there are good cash back cards, along with one of the best travel credit cards of any bank for avoiding foreign transaction fees. Here are the best Bank of America credit cards of April 2020:

Best Bank of America Credit Card Offers of April 2020

For the most part Bank of America doesn’t offer as large of welcome bonuses as what we see with other issuers, but don’t let that scare you off. The cards are still lucrative, and in the case of the Alaska cards, the higher comparative value of the miles earned means that initial bonus can be worth more than you’d think at first glance! Regardless, we keep this page updated, so you can easily find the best Bank of America credit card offers available today:

Bank of America cards do have some application restrictions, and you can typically only be approved for two cards every two months, three cards every 12 months, and four cards every 24 months. These limits don’t impact most people, but are good to be aware of.

Best Bank of America Credit Cards for Travel Rewards

When it comes to earning travel rewards with Bank of America cards, your main options are accruing miles with the phenomenal Alaska Airlines credit cards, or earning points directly with Bank of America through their Travel Rewards cards.

Maximize points with the Preferred Rewards Program

BofA Travel Rewards cards are most lucrative when paired with a savings or investment account tied to BofA — hitting certain thresholds within the Preferred Rewards Program can mean you’re earning up to 2.65% cash-back on all purchases, which is incredible!

Here are the tiers, the balances required to earn them, and the bonus points you earn on your credit card rewards for each tier:

GoldPlatinumPlatinum Honors
Required 3-month average combined balance$20k to < $50k$50k to < $100k$100k+
Rewards bonus on eligible BofA credit cards25%50%75%
Effective category bonus on Bank of America® Premium Rewards® credit card• 2.5% on dining and travel
• 1.875% on non-bonused spend
• 3% on dining and travel
• 2.25% on non-bonused spend
• 3.5% on dining and travel
• 2.625% on non-bonused spend

So your banking relationship with Bank of America determines how much of a rewards bonus you get on your credit card.

Put another way, if you have the Bank of America Premium Rewards Card and belong to the Platinum Honors tier, this card offers an unrivaled 2.625% return on all your spending, along with 3.5% on dining and travel.

Preferred Rewards Program eligible balance

The balance is determined based on your qualifying Bank of America deposit accounts and/or your qualifying investment accounts with Merrill. Eligible brokerage accounts include IRAs, so rolling over an old 401k could be an interesting option for some to help meet the higher thresholds (though of course check with your own financial advisors to determine if this makes sense for your situation).

Obviously, these are significant balances, though you have some highly flexible options as to what qualifies towards these amounts, including being able to trade your own stocks, for example.

It is worth noting that unlike points earned with some other major credit card issuers, Bank of America points can’t be transferred to airline or hotel partners, so your redemptions will be limited to flights that are otherwise available to purchase. This can still be a great deal, particularly for economy or discounted business class tickets, but it’s an important distinction. Here are the best Bank of America credit cards for travel rewards available today:

While Bank of America doesn’t have quite as many cards as some other banks, the products they offer are creative, and can be very lucrative for the right niche. The cash-back cards are definitely worth considering, either as primary cards or in conjunction with more flexible rewards cards from other issuers.

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