The Bank of America® Cash Rewards Credit Card for Students, which earns 3% cash back in an eligible choice category, 2% cash back at grocery stores and wholesale clubs, and an unlimited 1% cash back on all other purchases, is a good choice for students who want to maximise rewards and are willing to put up with a more complicated cash back system. Each quarter, the 3% and 2% categories are limited to the first $2,500 in combined purchases. The card also comes with a generous sign-up bonus and a low introductory APR. Even better, the card has no annual fee, making it an excellent alternative for students who want to earn cash back while still developing good credit habits and history.
Advantages-
- FICO score for Free
- 0% Intro APR offer with a generous term
- Competitive cash back reward rates
- Easy-to-earn welcome bonus
Disadvantages-
- 3% foreign transaction fee
- High penalty APR and late fee
- High to very high standard APR, depending on your credit
Major Highlights-
- After making at least $1,000 in purchases in the first 90 days of your account creation, you will receive a $200 cash rewards bonus.
- 3% cash back in your preferred category: gas, online shopping, restaurants, travel, drug shops, or home improvement-furniture, 2% cash back at grocery stores and wholesale clubs, and 1% cash back on all other purchases
- Your monetary awards don't have an expiration date. You can alter your 3% preference category online or through our mobile app each month as you prepare for future purchases.
- When you shop online, use the free and simple Shop Safe® service to get a temporary credit card number, keeping your real card number safe and secure
At a Glance-
- No annual fee
- Choose the top-earning 3% cash back category from several categories
- Welcome bonus: Online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening
- 0% introductory APR
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