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Up to 3%
Cash back
$0
Annual fee
23.99%
Purchase APR (variable)
300
Recommended credit score
Annual fee | $0 |
---|---|
Welcome Offer | N/A |
Rewards | 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs and unlimited 1% cash back on all other purchases (on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter). |
Purchase APR | 23.99% variable |
Balance transfer APR | 23.99% variable |
Recommended minimum credit score | 300 |
Issuer | Visa |
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.
The application process is simple. Here’s how it works:
We recommend applying with a fair credit score range, between 300 and 669, to improve your chances of approval.
As a Bank of America Preferred Rewards member, you can earn an additional 25%, 50% or 75% more cash back on your purchases. This essentially turns your 3% cashback rate into 3.75%, 4.5% and 5.25%. This is unheard of for a secured credit card.
However, the threshold to become a Preferred Rewards member is also high. To start off, you need:
The Bank of America® Cash Rewards Secured is one of the best secured cards for building credit because you get most of the benefits and rewards of the Bank of America® Cash Rewards Credit Card without the need for a good credit score.
Other secured cards could also help you build credit with a lower secured deposit of $200.