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Home » Credit Cards » Reviews » BankAmericard Cash Rewards™ Visa Signature® Card – Up to 3% Cash Back

BankAmericard Cash Rewards™ Visa Signature® Card – Up to 3% Cash Back

January 11, 2016 by Michal Cheney

The BankAmericard Cash Rewards™ Visa Signature® Card is a rewards card ideal for those looking for a little of everything. The card offers excellent cash rewards, a $100 signup bonus, and a 0% introductory rate on purchases and balance transfers.

This card is one of the most popular on the site. It offers up to 3% cash back (see details below), a 0% introductory APR on purchases and balance transfers for 12 months, and a $100 cash signup bonus (again, see details below). And it manages to do this without charging an annual fee. Excellent or good credit required.

BankAmericard Cash Rewards™ Visa Signature® Card Snapshot

  • No annual fee
  • $100 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening
  • Earn 1% cash back on every purchase, 2% at grocery stores and 3% on gas up to the first $1,500 in combined grocery/gas purchases each quarter
  • No changing categories and no expiration on rewards
  • 0% Introductory APR for 12 billing cycles for purchases AND for any balance transfers made in the first 60 days, then, 13.24% – 23.24% Variable APR. 3% fee (min $10) applies to balance transfers.
  • Get a 10% customer bonus every time you redeem your cash back into a Bank of America® checking or savings account
  • If you’re a Preferred Rewards client, you can increase that bonus to 25%-75%. Click “Apply Now” to learn more about Preferred Rewards.
  • More Details: BankAmericard Cash Rewards™ Visa Signature® Card

Rewards Program

There are several components to this card’s cash rewards program: (1) the $100 bonus; (2) 3% cash back; (3) 2% cash back; (4) 1% cash back; and (5) Bank of American customer bonuses:

1. $100 Bonus: Spend $500 within  the first 3 months and you will earn a $100 cash back bonus.

2. 3% Cash Back: Bank of America pays 3% cash back at on gas up on the first $1,500 in combined gas and grocery purchases each quarter. Note that the 3% is on gas purchases, but the limit combines gas and grocery purchases. I can hear you asking–where did the grocery purchases come from? I’m glad you asked.

3. 2% Cash Back: You’ll earn 2% on grocery purchases up to a combined spending limit of $1,500 on gas and groceries each quarter.

4. 1% Cash Back: On all purchases that fall outside these higher payout categories you will earn 1% cash back with no spending tiers or caps.

5. Bank of America Customers: You’ll earn even more if you bank at BofA. First, you’ll get a 10% customer bonus every time you redeem your cash back into a Bank of America® checking or savings account. And if you are a Preferred Rewards client, you can increase that bonus to 25%-75%.

BofA Cash Rewards

0% Introductory Rate

The BankAmericard Cash Rewards™ Visa Signature® Card offers an introductory rate of 0% for 12 months on purchases and for any balance transfers made in the first 60 days, then, 13.24% – 23.24% Variable APR. Note that there is a 3% fee (minimum $10) on balance transfers.

What we like

  • The $100 cash bonus
  • Up to 3% cash back
  • 0% introductory APR
  • No annual fee

What could be better

  • Spending caps could be higher
  • Requires Excellent/Good Credit

About Michal Cheney

Michal Cheney is a personal finance blogger who writes for several top personal finance blogs, such as Dough Roller and Go Banking Rates. She enjoys writing about money management, getting out of debt and planning for retirement. Her practical approach encourages folks to get serious about their relationship with their money.

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