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Bank of America® Cash Rewards for Students review

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A no-annual-fee card with accelerated cash back on a category of your choice.

$200

Welcome offer

Up to 3%

Cash back

$0

Annual fee

0%

Intro Purchase APR

for the first 15 statement closing dates (then 15.49% to 25.49% variable)

Details

Product NameBank of America® Cash Rewards for Students
Annual fee$0
Purchase APR0% intro for the first 15 statement closing dates (then 15.49% to 25.49% variable)
Balance transfer APR0% intro for the first 15 billing cycles (then 15.49% to 25.49% variable)
Cash advance rate18.49% to 26.49% variable
Cash advance fee$10 or 3% of the cash advance amount, whichever is greater
Penalty APR29.99% variable
Foreign transaction fee3% of the transaction value
Interest free periodUp to 25 days
Late payment feeUp to $39
Returned payment feeUp to $28

Expert review

Kliment Dukovski

Review by


Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.

Expert review

The Bank of America® Cash Rewards for Students is the same card as the Bank of America® Cash Rewards credit card, except it’s made for students. Using this card, students get a long intro APR period on balance transfers and purchases and get accelerated cash back at grocery stores and wholesale clubs. Each month, students also get to choose a category to earn accelerated cash back on.

Another cashback card

Citi® Double Cash Card

  • Earn cash back twice. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance transfer offer: 0% intro APR on balance transfers for 18 months. After that, the variable APR will be 15.49% - 25.49%, based on your creditworthiness.
  • Balance transfers do not earn cash back.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
  • The standard variable APR for Citi Flex Plan is 15.49% – 25.49% based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
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Card benefits

  • Signup bonus.
    Spend $1,000 in your first 90 days of card membership to earn a $200 online cash reward bonus.
  • Cash back.
    Earn 3% cash back on a category you choose, such as online shopping, dining, gas, drug stores, travel or home improvements. You’ll also earn 2% cash back at grocery stores and wholesale clubs. Each quarter, you’ll earn 3% and 2% cash back up to $2,500 in combined purchases. After that, you’ll get the revert 1% cash back rate. This is also the rate you’ll earn on all other purchases.
  • Intro APR period on purchases and balance transfers.
    Use a 0% intro APR period for the first 15 billing cycles on purchases and balance transfers. After the intro period ends, a variable APR of 15.49% to 25.49% applies.
  • Preferred rewards.
    If you become a preferred rewards client, you can get 25% to 75% bonus cash back on every purchase.
  • No annual fee.
    You get to earn cash back and use a long intro APR period without paying an annual fee.

What to watch out for

  • Balance transfer limitations.
    To use the intro APR period, make your balance transfers within the first 60 days of card membership.
  • Foreign transaction fees.
    Using the card abroad will incur a 3% fee of the amount of each transaction you make.

How to apply for the Bank of America® Cash Rewards for Students

  1. Visit the Bank of America website and find the Bank of America® Cash Rewards for Students.
  2. Click Apply now and fill out the application form.
  3. Review the form and submit.

What credit score do I need?

You can apply with a fair credit of 580 or higher, or with a limited credit history.

Compare credit cards for students

Name Product Filter values Minimum deposit required Purchase APR Annual fee Recommended minimum credit score
Citi® Secured Mastercard®
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Journey® Student Rewards from Capital One®
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Earn 1% cash back on all purchases or get 1.25% cash back for months you pay on time.
CardMatch™ from creditcards.com
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Capital One® QuicksilverOne® Cash Rewards Credit Card
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Get unlimited 1.5% cash back on every purchase with no limit on how much you can earn, and no changing categories.
Petal® Visa® Credit Card
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Build your credit with rewards and no fees: Apply if you're new to credit or have a fair to good score.

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Bottom line

Students looking for a cashback credit card may find the Bank of America® Cash Rewards for Students useful. You get to earn a decent signup bonus and you get a long intro APR period on purchases and balance transfers.

If you think there could be a better card for you, compare other credit cards until you find the right fit for your financial situation.

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