Bank of America® Customized Cash Rewards Credit Card for Students
- Annual fee
- None
- Recommended credit
- Poor / No Credit Required
- Card network
- Mastercard
- Intro purchase APR
- 0% for 18 months from account opening date
At a glance
The Bank of America® Cash Rewards Credit Card for Students is a solid means for students to build their financial borrowing reputation while covering everyday purchases. Unlike most student cards, earn up 3% cash back which can be redeemed as a statement credit, check, or deposit in your Bank of America checking or savings account, as well as a $200 signup bonus.
Our review of the Bank of America® Customized Cash Rewards Credit Card for Students
If you’re a student looking to build credit, the Bank of America® Cash Rewards Credit Card for Students is a top choice. With no credit history required, students can earn practical cash back rewards while establishing a solid credit profile. This card stands out from other student options with its 0% APR introductory period, generous cash back rewards up to 3% in a category of your choice, and no annual fee.
How to Redeem
Redeeming cash back rewards with this card is simple and flexible, offering multiple options to put money back in your pocket. While the APR is higher than typical student cards, the $200 signup bonus for spending $1000 within the first 90 days can help offset costs for school essentials. Plus, the 0% APR for purchases and balance transfers can assist students in meeting this requirement and covering larger expenses.
After the introductory period, students should be aware of the higher regular APR and consider their ability to pay off balances in full. The customizable 3% cash back category allows students to tailor rewards to their spending habits, whether it’s gas, online shopping, dining, travel, or more. Keep in mind that cash back earnings for the 3% and 2% categories are capped each quarter.
Be Wary of Fees
While this card offers travel rewards, foreign transaction fees may not make it ideal for international travel. However, the flexibility of customizable categories makes it a great option for students experiencing various life changes. Keep track of your spending category and update it as needed through your Bank of America® dashboard.
Should You Apply?
Overall, the Bank of America Cash Rewards Credit Card for Students is a strong contender among student cards. It provides a valuable opportunity for students to build credit responsibly while earning cash back rewards. Monthly FICO® score reports help you monitor your progress and financial health, making it a valuable tool for financial education. Consider discussing the possibility of adding a guarantor if needed before applying. For those with more established credit histories, alternative options like the Citi Custom Cash℠ Card or Freedom Flex may be worth exploring.
Card features
Benefits as listed on the original card page. They can change; confirm details with the issuer.
- Introductory 0% purchase APR for your first 12 months
- Introductory 0% APR for 15 months
- Enjoy additional travel, auto rental, and purchase
- benefits
- 3% cash back on the category of your choice
- 2% back at grocery stores and wholesale clubs
- 1% back on all other purchases
- Free access to monthly FICO® Score
Who this card may suit
- You want a card with no annual fee
- You can pay off your monthly balance in full
- You'll spend $1000 within the first 90 days of opening an account
- You want changeable 3% cash back categories to earn rewards for decorating your dorm, buying groceries, or booking plane tickets to visit home
Rates, fees and terms
| Annual Fee | None |
|---|---|
| Intro Purchase APR | 0% for 18 months from account opening date |
| Regular Purchase APR | 18.24% to 28.24% variable based on creditworthiness and the Prime Rate |
| Intro Balance Transfer APR | 0% for 18 months on transfers made within 60 days of account opening date |
| Balance Transfer APR | 18.24% to 28.24% variable based on creditworthiness and the Prime Rate |
| Balance Transfer Transaction Fee | Either $10 or 3% of the amount of each transfer, whichever is greater |
| Cash Advance APR | 21.24% to 30.24% variable based on creditworthiness and Prime Rate |
| Cash Advance Transaction Fee | Either $10 or 3% of the amount of each cash advance, whichever is greater |
| Foreign Transaction Fee | 3% of the transaction amount in U.S. dollars |
| Penalty APR | Up to 29.99% variable based on creditworthiness and the Prime Rate |
| Late Payment Penalty Fee | Up to $40 |
| Return Payment Penalty Fee | Up to $29 |
Confirm before you apply: rates, fees and offers change often. The figures above are the ones listed on the original card page, not a current quote from the issuer. APRs are typically variable, and the rate you receive depends on your creditworthiness. Recommended credit: Poor Credit Limited or No Credit.
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Bank of America® Customized Cash Rewards Credit Card for Students
Apply Now for Bank of America® Customized Cash Rewards Credit Card for Students (opens in a new tab)You will leave this site for the issuer’s page. Confirm current terms there.
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