Current Welcome Bonus & Value
As of June 2026, the Unlimited Cash Rewards Card offers a $200 cash bonus. This bonus is straightforward and provides a clear $200 in value once earned.
Minimum Spend to Earn It
To earn the $200 welcome bonus, you must spend $1,000 within the first 90 days of account opening. This is a relatively low minimum spend requirement, making the bonus accessible for most new cardholders.
Who's Eligible
To be approved for the Unlimited Cash Rewards Card and earn its welcome bonus, consider the following:
- Credit Score: A good credit score is generally required for approval.
- New Cardmember Only: This bonus is available only to new cardmembers for this specific product. If you've had this card before, you may not be eligible for the bonus again.
- Bank of America Application Rules: Bank of America has specific rules that can impact your approval for new cards, including this one:
- BofA 2/3/4 Rule: You may be limited to approximately 2 Bank of America cards in 2 months, 3 in 12 months, and 4 in 24 months.
- BofA 3/12 Rule: You may be denied if you have opened approximately 3 new credit cards (from any issuer) in the past 12 months.
Is It Worth It?
Evaluating the Unlimited Cash Rewards Card for churning involves weighing its benefits against its limitations.
Pros:
- Solid Welcome Bonus: A $200 cash bonus for a $1,000 spend is a good return.
- No Annual Fee: This card has a $0 annual fee, making it easy to keep long-term without ongoing costs.
- Enhanced First-Year Earning: Earn an unlimited 2% cash back on all purchases for the first year from account opening, which is competitive.
- Simple Rewards: After the first year, it earns an unlimited 1.5% cash back on all purchases, with no categories to track.
Cons:
- Foreign Transaction Fee: This card charges a foreign transaction fee, making it unsuitable for international travel.
- Bank of America Application Rules: The issuer's restrictive application rules (2/3/4 and 3/12) can limit how frequently you can apply for new Bank of America cards or even cards from other issuers.
- Standard Ongoing Rate: While 2% for the first year is good, the ongoing 1.5% cashback rate is standard and can be outmatched by other cards for specific spending categories or higher flat rates.
For churners, this card offers a quick, easy bonus with a low spend requirement. Its no-annual-fee status makes it a good keeper card, especially if you value simplicity. However, be mindful of the Bank of America application rules if you're actively pursuing multiple new cards.
How to Apply
To apply for the Unlimited Cash Rewards Card, visit the Bank of America website or a local branch. Ensure you meet the credit score requirements and understand Bank of America's application rules before submitting your application.
Alternatives
If you're considering other Bank of America cards or alternatives, you might look into:
- Premium Rewards Credit Card
- Customized Cash Rewards
- Atmos Rewards Summit Visa Infinite Card
- Alaska Airlines Atmos Rewards Ascent
- Atmos™ Rewards Ascent Visa Signature® Card
- Air France/KLM FlyingBlue Credit Card
These cards offer different reward structures and benefits, potentially aligning better with specific spending habits or travel goals.