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Bank America Credit Card - Bank of America Credit Cards

Cards and Features

rewards cardholder category airline

In addition to the other financial services offered by the company, Bank of America is one of the largest and most well-known credit card providers in the United States. From students to seniors, the company offers cards with availability, features, and incentives that appeal to many different groups. Although some of the features and services may over-lap, the cards can generally be divided into five categories.

BUILD YOUR CREDIT CARD

The first category has only one card option, the BankAmericard Visa Fully Secured Card. This functions as a sort of debit card/credit card hybrid. While, like the debit card, the amount that the cardholder can spend is linked to an account, like a credit card, the funds are not immediately withdrawn from the account. Rather, the amount of money in the account established the spending limit. In this way, the account provides a built in security deposit on the credit card. This card is designed for young people or others who do not have an established credit history.

CASH BACK CARDS

The second category of Bank of America credit cards are those that offer cash back to the cardholder. For no annual fee, Bank of America offers a cash-back reward of 1% (for the Visa card) or 1.25% (for the American Express card) of the amount charged to these cards. Also, 3% cash back for purchases at gas stations, grocery stores and drugstores is offered to Visa cardholders.

REWARDS CARDS

A third type of Bank of America credit cards offers other rewards (apart from direct cash back). Within this category, there are four general types of rewards: flexible rewards, airline rewards, travel rewards, and shopping rewards. The flexible rewards cards allow the cardholder to accrue points that can be redeemed for gift cards, gas rewards, travel rewards, and other options. The Pink Ribbon Visa Signature card allows the cardholder to donate the rewards accrued to the Susan G. Komen cancer research foundation. The airline rewards cards allow the cardholder to accrue miles towards specific airline carriers’ loyalty programs. With these cards, $1 spent typically equals 1 reward mile; however, certain purchases may provide bonus miles or additional rewards. The airline rewards cards are the only Bank of America credit cards with an annual fee. Fees ranges from $75 to $99. The travel rewards cards are similar to airline rewards cards. However, rather than accruing points with airline loyalty programs, the cardholder can build up rewards points with companies such as Royal Caribbean or Sandals. With the final category, shopping rewards, cardholders have the option of general shopping reward cards or accruing points with the Bass Pro Shop loyalty program.

STUDENT CARDS

Only one card is available in the student category-the Bank of America Student Platinum Plus Visa Credit Card. This card, available to both full and part-time students, is intended as a way for young people or other students with no credit history to begin building their credit.

SPORTS CARDS

In the final category, sports cards, two types of reward cards are available. Fans of Major League Baseball or NASCAR can earn points to be used toward purchases on purchases from retailers associated at the MLB Shop or the NASCAR Superstore.

While the types of cards, rewards, and fees might change, the Bank of America cards offer the cardholder with stable and interesting options. More information and application instructions are available at the
Bank of America website.

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