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BofA Unlimited Cash Rewards: terms, score and downsides

Not credit advice. Facts and math from issuer pages and the CFPB, each with its date. Offers change; approval depends on your credit. Verify on the issuer's site.

Rubric score 64.9% across 78 cards. Issuer page ↗

Downsides first

• 3% foreign transaction fee
• APR up to 27.74% if you carry a balance
• Penalty interest rate (APR) up to 29.99%
• Late fee up to $40

Terms & fees

• IssuerBank of America
• Typecash back
• Annual fee$0 bankofamerica.com, 2026-10-12
• Regular purchase APR17.74%–27.74% variable bankofamerica.com, 2026-10-12
• Rewards1.5% base bankofamerica.com, 2026-10-12
• Sign-up bonus (≈$)$250 $250 online cash rewards bonus offer bankofamerica.com, 2026-10-12
• Intro APR15 months 0% for 15 billing cycles bankofamerica.com, 2026-10-12
• Foreign transaction fee3% files.consumerfinance.gov, 2025-12-31
• Penalty APRup to 29.99% up to; per BofA agreement consumerfinance.gov, 2026-06-30
• Late feeup to $40 up to (first and repeat late fee) files.consumerfinance.gov, 2025-12-31
• Balance transfer fee4% files.consumerfinance.gov, 2025-12-31
• Cash advance fee5% files.consumerfinance.gov, 2025-12-31
• Credit needed620–719, 720+ (CFPB TCCP targeted tiers) files.consumerfinance.gov, 2025-12-31
• Grace period25 days files.consumerfinance.gov, 2025-12-31
• Cash advance APR29.24% files.consumerfinance.gov, 2025-12-31
• CFPB survey APR (2025-12-31)17.49%–28.24% files.consumerfinance.gov, 2025-12-31 older; issuer figure above is newer

Complaint record (CFPB)

• Complaints, last 12 months23,829
• Trend▲ 35.9% (last 12 mo 23,829 vs prior 12 mo 17,533)
• Timely response (last 36 mo)99.2%
• Per $1B deposits (12 mo)11.23
• Top issueManaging an account
• Insurance statusFDIC-insured: Bank of America, National Association (cert 3510, active; deposits $2,121.8B as of 06/30/2026)

Company-level (BANK OF AMERICA, NATIONAL ASSOCIATION), all products, as of 2026-10-12. Bank of America (incl. Merrill) complaints: full record → Shown for context; does not change the score.

Score breakdown

• Annual fee 10.0/10Annual fee $0 (as of 2026-10-12). Rubric: $0=10, ≤$95=8, ≤$395=5, ≤$695=3, more=1 (perks/credits are not counted).
• Rewards rate 6.0/10Base 1.5% on everything, top category 1.5% (as of 2026-10-12; points/miles valued at 1¢). Score = base/2%×7 + min(top,6)/6%×3. 1.5% base
• Sign-up bonus 3.3/10Bonus ≈ $250: $250 online cash rewards bonus offer (as of 2026-10-12). Score = value/$75, max 10.
• Intro 0% APR 7.1/100% for 15 billing cycles (as of 2026-10-12). Score = months/21×10.
• Regular APR 8.0/1017.74%–27.74% variable (as of 2026-10-12); midpoint 22.74%. Score = (34 − midpoint)/1.4, 0–10.
• Foreign transaction fee 3.0/103% foreign transaction fee (as of 2025-12-31).
• Regulatory record (CFPB) 8.0/10Issuer Bank of America: Base 10, −2 CFPB 2023-07

0.143×10.0 + 0.143×6.0 + 0.143×3.3 + 0.143×7.1 + 0.143×8.0 + 0.143×3.0 + 0.143×8.0 = 6.49 → 64.9%

Is BofA Unlimited Cash Rewards worth it? (break-even math) →Value for my spending →

Compare with

BofA Unlimited Cash Rewards vs Chase Freedom Unlimited · BofA Unlimited Cash Rewards vs Chase Freedom Flex · BofA Unlimited Cash Rewards vs Citi Double Cash · BofA Unlimited Cash Rewards vs Wells Fargo Active Cash · BofA Unlimited Cash Rewards vs Capital One Quicksilver · BofA Unlimited Cash Rewards vs Capital One Savor

No paid placement. No issuer pays VaultRubric for inclusion or rank; links go to the issuer's own page. Ranks come only from the published rubric below.

FAQ

What is the BofA Unlimited Cash Rewards annual fee?

$0

What is the BofA Unlimited Cash Rewards APR?

17.74%–27.74% variable

Estimates, not financial advice. Taxes, insurance, PMI and fees vary by lender, county and city; confirm with your lender, dealer and state agency before acting.