The 2023 Comprehensive Review of Bank of America’s Unlimited Cash Rewards Offerings for Students
As a college student, your financial needs and expenses are unique. Bank of America recognizes this and offers a cash rewards credit card specifically tailored to students. The Bank of America Unlimited Cash Rewards for Students is a great option for students looking to earn cashback on their purchases.
The Bank of America Unlimited Cash Rewards for Students offers 1.5% cashback on all purchases, with no categories or limits. This is a great benefit for students who are likely making a variety of purchases each month. Additionally, the card offers a bonus to new cardholders: $200 cashback after spending $1,000 in purchases within the first 90 days of opening the account. This is a generous offer, especially for students who may be making larger purchases to furnish their dorm rooms or buy textbooks.
Another major benefit of the Bank of America Unlimited Cash Rewards for Students is its lack of an annual fee. As a student, you likely don’t have a lot of extra cash to spare, so a credit card with no annual fee can be a huge relief. Additionally, the card offers a 0% intro APR for 12 billing cycles on purchases and balance transfers made within the first 60 days of opening the account. This can be a great help to students looking to make larger purchases without accruing interest.
As with any credit card, it’s important to be aware of the fine print and potential fees. The Bank of America Unlimited Cash Rewards for Students charges a 3% foreign transaction fee, so it may not be the best option if you plan to study abroad or travel frequently outside the US. Additionally, late payments can result in a late fee of up to $40.
Overall, the Bank of America Unlimited Cash Rewards for Students is a great credit card for students looking to earn cashback on their purchases without an annual fee. The introductory cashback bonus and 0% intro APR offer are also excellent incentives to sign up, and the card’s lack of categories or limits makes earning cashback simple and stress-free. However, it’s important to be aware of potential fees and to always use credit responsibly.
