Founded in 1998 and headquartered in Charlotte, North Carolina, Bank of America is a multinational banking and financial services company that offers credit cards.

Rank Chart
APR
Reward Options
Our Score
#1
8.4 - 11.4%
Yes
6.1
#2
8.24 - 18.0%
Yes
5.9
#3
0 - 23.24%
Yes
5.6
#27
bank of america company image
0 - 23.24%
Yes
3.4

The Good

  • Competitive APRs
  • Rewards programs
  • Free credit score tracking
  • Fraud safeguards

Competitive APRs

Bank of America offers a few different credit cards with introductory rates of 0 percent for the first 12 to 18 months. After that, rates range from 11.24 percent to 23.24 percent*, which is very competitive within the industry.

Rewards Programs

Bank of America offers a variety of rewards programs that cardholders can participate in and earn travel points, bonuses, and cash back. Earned rewards are easy to convert into cash or prizes.

Free Credit Score Tracking

Because Bank of America thinks that its important to provide its customers with tools to help them understand their credit, the company provides consumer cardholders with access to a free monthly FICO score from TransUnion. With this feature, cardholders can see key factors that are impacting their score, track recent scores month-to-month and compare them to national averages, and learn about credit and strategies for keeping their credit healthy.

Fraud Safeguards

Bank of America provides tips on how to prevent fraud and invests in fraud protection technology in order to shield its cardholders from fraud.

The Bad

  • Annual fee
  • Late payment penalty
  • Foreign transaction fee

Annual Fee

Bank of America charges annual fees up to $99 depending on the card. There are several other credit card companies that do not charge any annual fees at all.

Late Payment Penalty

For every late payment, Bank of America cardholders will incur a fee of up to $37.

Foreign Transaction Fee

Bank of America charges a foreign transaction fee of 3 percent, which is one of the highest in the industry.

The Bottom Line

Bank of America offers competitive APRs, several rewards programs, free credit score tracking, and a number of fraud safeguards. However, the company has a few different fees in place, including an annual fee, a late payment fee, and a foreign transaction fee.

*Disclaimer: Listed interest rates were accurate as of December 2016 but are subject to change. Actual rates may differ from those listed in our review.

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