Bank of America Launches New Unlimited Cash Rewards Credit Card
July 19 2021 - 9:00AM
Business Wire
Unlimited 1.5% Cash Back on All Purchases Makes
Earning Rewards Easy, Helps Optimize Spending
Preferred Rewards Members Could Earn up to
2.62% Cash Back
Bank of America today announced the launch of the Bank of
America Unlimited Cash Rewards credit card, which allows clients to
earn unlimited 1.5% cash back on all purchases. This new credit
card is the latest among Bank of America’s suite of rewards cards,
each designed to fit a variety of clients’ needs.
“We heard from our clients that they want earning rewards on
their credit card to be uncomplicated,” said Jason Gaughan, credit
card executive at Bank of America. “With our new Unlimited Cash
Rewards card, we’ve made earning cash back on all purchases even
easier, and are helping clients optimize their spending.”
Unlimited Cash Rewards Features – Clients will
automatically earn 1.5% cash back on all purchases, with no limit
on the amount of cash back earned. Cash rewards don’t expire, and
redemption is simple: clients can redeem their cash back for any
amount, at any time for statement credits or deposits directly into
a Bank of America checking or savings account, or for credit to an
eligible account with Merrill. The Unlimited Cash Rewards card has
no annual fee.
Earn Even More with Preferred Rewards – Members of Bank
of America’s Preferred Rewards program earn 25% to 75% more cash
back on every purchase made with the Unlimited Cash Rewards card,
depending on their rewards tier. That means the unlimited 1.5% cash
back on all purchases could increase to up to 2.62% cash back.
Award-Winning Credit Card Options – The new card joins
the suite of award-winning credit cards from Bank of America
including the Bank of America Customized Cash Rewards credit card,
which offers clients 3% cash back in a category of their choice.
Cardholders choose from one of six categories including gas, online
shopping, dining, travel, drug stores and home improvement.
Customized Cash Rewards cardholders also earn 2% cash back at
grocery stores and wholesale clubs, and unlimited 1% cash back on
all other purchases. Clients earn 3% and 2% cash back on the first
$2,500 in combined purchases each quarter in the choice category,
and at grocery stores and wholesale clubs, then earn unlimited 1%
thereafter.
Coming Soon: Business Advantage Unlimited Cash Rewards –
Bank of America will launch a similar credit card for business
owners in October. The Business Advantage Unlimited Cash Rewards
credit card will enable clients to earn unlimited 1.5% cash back on
all purchases. Business Advantage Unlimited Cash Rewards clients
enrolled in Preferred Rewards for Business can increase their
credit card rewards bonus by 25% to 75%, depending on the rewards
tier for which they qualify. The Business Advantage Unlimited Cash
Rewards card will have no annual fee and rewards do not expire.
Download the Bank of America app or visit bankofamerica.com.
Bank of America
Bank of America is one of the world’s leading financial
institutions, serving individual consumers, small and middle-market
businesses and large corporations with a full range of banking,
investing, asset management and other financial and risk management
products and services. The company provides unmatched convenience
in the United States, serving approximately 66 million consumer and
small business clients with approximately 4,300 retail financial
centers, approximately 17,000 ATMs, and award-winning digital
banking with approximately 41 million active users, including
approximately 32 million mobile users. Bank of America is a global
leader in wealth management, corporate and investment banking and
trading across a broad range of asset classes, serving
corporations, governments, institutions and individuals around the
world. Bank of America offers industry-leading support to
approximately 3 million small business households through a suite
of innovative, easy-to-use online products and services. The
company serves clients through operations across the United States,
its territories and approximately 35 countries. Bank of America
Corporation stock (NYSE: BAC) is listed on the New York Stock
Exchange.
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America newsroom
and register for news email alerts.
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version on businesswire.com: https://www.businesswire.com/news/home/20210719005428/en/
Reporters may contact: Don Vecchiarello, Bank of America
Phone: 1.770.361.2573 don.vecchiarello@bofa.com
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