A no-annual-fee card with accelerated cash back on a category of your choice.
30-second take
- Get this card if you are a student and want to earn cash back.
- Pick something else if you want a travel card or a longer intro APR period.
- Apply with a limited credit history or with a fair credit score of 580 or higher.
| Product Name | Bank of America® Cash Rewards for Students |
|---|---|
| Annual Fee | $0 |
| Standard Purchase APR | 16.24% to 26.24% variable |
| Intro Purchase APR | 0% for the first 12 statement closing dates (then 16.24% to 26.24% variable) |
| Standard Balance Transfer APR | 16.24% to 26.24% variable |
| Intro Balance Transfer APR | 0% for the first 12 billing cycles (then 16.24% to 26.24% variable) |
| Cash Advance Rate | 19.24% to 27.24% variable |
| Cash Advance Fee | $10 or 3% of the cash advance amount, whichever is greater |
| Foreign Transaction Fee | 3% of the transaction value |
| Interest Free Period | Up to 25 days |
| Late Payment Fee | Up to $39 |
| Returned Payment Fee | Up to $28 |
| Minimum Age | 18 years of age |
|---|
| Rewards | 3% and 2% cash back on the first $2,500 in combined choice category, grocery and wholesale club purchases each quarter, then 1% |
|---|---|
| Base Rewards | 1% cash back |
The basics
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 credit card for students
Card benefits
- Signup bonus.
Spend $1,000 in your first 90 days of card membership to earn a $200 online cash reward bonus.
- Signup 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.
- Cash back.
- Intro APR period on purchases and balance transfers.
Use a 0% intro APR period for the first 12 billing cycles on purchases and balance transfers. After the intro period ends, a variable APR of 16.24% to 26.24% applies.
- Intro APR period on purchases and balance transfers.
- Preferred rewards.
If you become a preferred rewards client, you can get 25% to 75% bonus cash back on every purchase.
- Preferred rewards.
- 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.
- Balance transfer limitations.
- 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
- Visit the Bank of America website and find the Bank of America® Cash Rewards for Students.
- Click Apply now and fill out the application form.
- 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
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.
