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Key takeaways
- The BankAmericard® credit card comes with a great introductory APR, making it a solid option for people to pay off credit card debt over time.
- The Bank of America® Unlimited Cash Rewards credit card offers good long-term value with access to cash back, the ability to earn a welcome bonus and a nice introductory APR offer.
- Both credit cards come with basic benefits like free FICO score access, $0 fraud liability, account alerts and access to Museums on Us and BankAmeriDeals.
Information about the Bank of America® Unlimited Cash Rewards credit card and BankAmericard® credit card was updated on February 19, 2025.
Comparing a card that offers rewards to a card that doesn’t might feel like comparing apples to oranges. But both the Bank of America® Unlimited Cash Rewards credit card and BankAmericard® credit card* primarily serve the same type of consumers — those who are looking either to consolidate high-interest credit card debt through a balance transfer or to finance an upcoming purchase without paying interest.
That said, the Bank of America Unlimited Cash Rewards offers a welcome bonus and 1.5 percent cash back on all purchases. This can make it a more attractive option than the BankAmericard, which doesn’t offer a welcome bonus or ongoing rewards. However, both cards have their pros and cons, so let’s dig into the details.
Main details
| Cards | Bank of America Unlimited Cash Rewards credit card | BankAmericard credit card |
|---|---|---|
| Welcome bonus | $200 online cash rewards bonus after spending $1,000 within the first 90 days | None |
| Rewards rate | 1.5% cash back on all purchases | None |
| Intro APR | 0% intro APR for 15 billing cycles on purchases and balance transfers; balance transfers must be made in the first 60 days to qualify and a 3% intro balance transfer fee will apply for the first 60 days your account is open, then 4%; 18.24% – 28.24% Variable APR on purchases and balance transfers after | 0% intro APR for 18 billing cycles on purchases and balance transfers; balance transfers must be made in the first 60 days to qualify and a 3% intro balance transfer fee will apply for the first 60 days your account is open, then 4%; 15.24% – 25.24% Variable APR on purchases and balance transfers after |
| Annual fee | $0 | $0 |
Bank of America Unlimited Cash Rewards vs. BankAmericard highlights
Welcome bonus winner
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When choosing between credit cards, a welcome offer can be a determining factor on which card is a better fit for you. The BankAmericard doesn’t offer a welcome bonus, easily making the Unlimited Cash Rewards card the winner of this category. The Bank of America Unlimited Cash Rewards offers a $200 online cash rewards welcome bonus after spending $1,000 within the first 90 days of account opening.
Rewards rate winner
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This category has a clear winner too, since the BankAmericard doesn’t offer any type of rewards program. The Bank of America Unlimited Cash Rewards card offers an unlimited 1.5 percent cash back on all purchases. The rewards rate has the potential to increase to 1.87 percent, 2.25 percent or 2.62 percent depending on your Bank of America Preferred Rewards® program eligibility and tier.
Annual fee winner
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Annual fees can eat into the value of your credit card’s benefits and perks. Thankfully, we don’t have to worry about that here since neither card charges an annual fee, so they tie in this category.
Foreign transaction fee winner
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Neither of these cards are a particularly good fit for travel or shopping in a foreign currency. If you need a card without foreign transaction fees or want to earn travel rewards, you should consider one of our top travel cards instead. Bank of America Unlimited Cash Rewards and BankAmericard both charge a 3 percent foreign transaction fee, so they also tie — but not in a good way — in this category.
Which card earns the most?
Choosing the best credit card often comes down to matching a card’s reward structure with your personal spending habits. Many cards offer elevated cash back or rewards for spending in certain categories, while others offer a flat rate across all purchases. Earning a flat 1.5 percent cash back on all purchases, the Bank of America Unlimited Cash Rewards card clearly packs more long-term earnings value than the BankAmericard — which doesn’t offer a rewards program.
Spending example
Say you spend about $1,000 per month ($12,000 per year) with the Bank of America Unlimited Cash Rewards credit card. In that case, you’ll earn $15 per month ($180 per year) in cash back. If you spend the same amount per month with the BankAmericard, you won’t earn any rewards on that same spending.
That’s not to say that a card’s earnings rate is the only thing you should consider. For example, the BankAmericard’s introductory APR offer lasts three billing cycles longer than the intro APR offer on the Unlimited Cash Rewards card. Depending on the size of your balance, giving yourself extra time to pay it off at zero interest could easily offset any cash back gains you may have earned during those months. It also comes with a lower ongoing 15.24% – 25.24% Variable APR on purchases and balance transfers.
Why should you get the Bank of America Unlimited Cash Rewards?
The Bank of America Unlimited Cash Rewards card might be worth it if you’re interested in an introductory APR offer for balance transfers and purchases while also earning rewards on your purchases. Plus, the cash back you can earn is unlimited.
Why should you get the BankAmericard?
There aren’t many compelling reasons to choose the BankAmericard over the Bank of America Unlimited Cash Rewards, except for the glaring one: If you truly need a longer intro APR period and don’t care about rewards or welcome bonuses, the BankAmericard might be worth it for you.
Plus, since the BankAmericard has a lower ongoing APR, you might want that safety net in case you can’t pay off your balance completely during the introductory period.
The bottom line
Thanks to its rewards program and fairly long intro APR offer, the Bank of America Unlimited Cash Rewards credit card ultimately offers better long-term value than the BankAmericard credit card.
With the Unlimited Cash Rewards card, current Bank of America or Merrill customers can enjoy even bigger cash back rewards through the Preferred Rewards program. This tiered program allows customers with eligible account balances to boost their cash back rewards as high as 2.62 percent on all purchases. This rivals many of the best cash back cards on the market, although the average balance needed to qualify for the top rate is quite high.
However, people who aren’t able to pay off their balance every month, however, may be better off with the BankAmericard due to its lengthier intro APR offer and lower regular variable APR. So, if clearing debt is your only focus, the BankAmericard may be a clear winner.
*Issuer-required disclosure statement
Information about the BankAmericard® is collected independently by Bankrate. Card details have not been reviewed or approved by the card issuer.
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