Bank of America Unlimited Cash Rewards Credit Card review: Get rewarded for every purchase you make

Core Points - The Bank of America® Unlimited Cash Rewards Credit Card offers unlimited flat cash-back rewards, a 0% APR introductory period, and no annual fee [1][3][5] Summary by Categories Card Features - The card has a $0 annual fee and offers a welcome bonus of $200 after spending $1,000 in the first 90 days [3][10] - It provides a 0% introductory APR for the first 15 billing cycles on purchases and balance transfers made within the first 60 days [6][7] - The rewards structure allows users to earn 2% cash back on purchases for the first year, reverting to 1.5% thereafter [3][9] Rewards and Benefits - Users can earn an estimated $423 per year in cash back based on average spending data [9] - Preferred Rewards members can earn up to a 75% bonus on cash back, increasing the effective cash back rate to 2.62% for those in the highest tier [12][13] - Cash rewards can be redeemed easily with no minimum required, either as a statement credit or direct deposit [14] Target Audience - The card is ideal for individuals seeking straightforward cash-back rewards without complex strategies, making it suitable for beginners [15] - It is also beneficial for those planning large purchases, allowing them to earn 2% cash back and finance the purchase interest-free for 15 billing cycles [16] Limitations - The card does not offer bonus categories for increased rewards, and the 2% cash back rate is only available for the first year [21] - A 3% foreign transaction fee applies for purchases made outside the U.S., which may deter frequent international travelers [22]