Best Bank of America Credit Cards of November 2023

Who’s this for? If you love cash back and want to customize how you earn rewards, then the Bank of America® Customized Cash Rewards credit card is for you. It lets you choose which spending category you want to earn elevated rewards in each month.

Standout benefits: Cardholders earn 3% back in one category of their choice, as well as 2% back at grocery stores and wholesale clubs. The 3% and 2% cash-back category bonuses apply to the first $2,500 in combined purchases each quarter, then you’ll earn 1% back.

Being able to rotate your 3% cash-back category helps maximize your rewards as your spending habits shift throughout the year.

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Who’s this for? The BankAmericard® credit card is for anyone who wants to give a boost to their get-out-of-debt plan. It offers one of the longest introductory 0%-APR offers of any credit card.

Standout benefits: New cardholders can take advantage of a 0%-introductory APR on purchases and eligible balance transfers for the first 18 billing cycles after opening the account, then a variable APR of 16.24% to 26.24% applies.

For a balance transfer to qualify for the 0%-APR offer, it must be completed within 60 days of opening the account, and a balance transfer fee of 3% of the amount you transfer applies.

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Who’s this for? The Alaska Airlines Visa® credit card is one of the best ways to quickly earn Alaska Airlines miles since none of the major transferable points programs partner with the airline.

Standout benefits: Cardholders enjoy numerous money-saving perks when flying Alaska Airlines, such as a discount on inflight food, beverage and inflight Wi-Fi purchases, as well as free checked bags for yourself and up to six guests on the same reservation. Plus, you’ll get another companion certificate every time you renew the card and make qualifying purchases.

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The Bank of America® Travel Rewards credit card is a no annual fee card that earns points that you can redeem for one cent each to offset travel and dining purchases.

Rewards

Earn 1.5X points on all purchases.

Welcome bonus

Earn 25,000 bonus points after you spend at least $1,000 in purchases in the first 90 days of account opening.

Annual fee

$0

Notable perks

This card is eligible for Bank of America’s Preferred Rewards program, which means you can earn 25% to 75% more points on all of your purchases depending on your status level. Cardholders who qualify for the Platinum Honors Preferred Rewards tier or higher will earn 2.62X points on every purchase.

The card also charges no foreign transaction fees, which makes it a good choice when traveling internationally.

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The Bank of America® Customized Cash Rewards credit card is a solid choice for anyone who loves maximizing the rewards they earn because you can choose and change the category that’s most rewarding each month.

Rewards

Earn 3% cash back in one category*:

• Gas and EV charging station
• Online shopping/cable/streaming/internet/phone plan
• Dining
• Travel
• Drug store/pharmacy
• Home improvement/furnishings purchases

Plus, all cardholders earn the following:

• 2% cash back at grocery stores and wholesale clubs
• 1% cash back on all other purchases.

The 3% and 2% cash-back category bonuses apply to the first $2,500 in combined purchases each quarter, then you’ll earn 1% back.

* You can change your selection each month

Welcome bonus

Earn a $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening.

Annual fee

$0

Notable perks

New card members qualify for an introductory 0% APR for the first 15 billing cycles on purchases and balance transfers made within 60 days of account opening. After the 0%-APR expires, a variable 18.24% – 28.24% APR applies, and a balance transfer fee of 3% of the amount the transfer amount applies.

This card is eligible for the Bank of America Preferred Rewards loyalty program, which can boost the cash back you earn by 25% to 75%. If you qualify for the 75% rewards bonus, you’d earn 5.25% back in your chosen 3% back category (on up to $2,500 in combined purchases each quarter).

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The Alaska Airlines Visa® credit card is a great option for anyone who frequently travels with Alaska Airlines or one of its many Oneworld or non-alliance partner airlines. Alaska miles can be redeemed for flights on airlines like American Airlines, Cathay Pacific, Singapore Airlines, LATAM Airlines, Fiji Airways and more.

Rewards

• 3X miles on eligible Alaska Airlines purchases
• 2X miles on eligible gas, EV charging station, cable, streaming services and local transit purchases
• 1X mile on all other purchases

Card members who also have an eligible Bank of America^® checking, savings or investment account can earn an additional 10% bonus on all miles you earn on purchases you make with the card.

Welcome bonus

Limited-time offer: Earn 60,000 bonus miles plus Alaska’s Famous Companion Fare™ ($99 fare plus taxes and fees from $23) after spending $3,000 or more in purchases within the first 90 days of opening your account.

Annual fee

$95

Notable perks

The Alaska Airlines Visa® credit card awards a companion fare after spending at least $6,000 on the card in a cardmember year. Alaska’s Famous Companion Fare™ allows you to book a second economy ticket for $99 plus the cost of taxes and fees (typically $23 depending on the fare). This benefit is available for eligible flights booked on Alaskaair.com and paid for with your eligible Alaska Airlines card. Travel must be completed within 12 months of the date your companion fare code is issued.

Cardholders can also receive 20% back on inflight food, beverage and inflight Wi-Fi purchases they make with the card and $100 off an Alaska Airlines airport lounge membership when paying with the card. When you fly with Alaska Airlines and pay with your Alaska Airlines card, you and up to six companions, will receive priority boarding and the first checked bag free.

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The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card is a good option for small businesses with expenses that vary from month to month.

Rewards

Cardholders earn 3% cash back in one of the following categories that you choose, including:

• Gas stations & EV charging stations
• Office supply stores
• Travel
• TV/telecom & wireless
• Computer services or business consulting services

Plus, all cardholders earn the following:

• 2% cash back on dining purchases
• 1% cash back on all other purchases.

The 3% and 2% bonus cash back is earned on the first $50,000 in combined purchases each calendar year, then 1%.

Welcome bonus

Earn a $300 statement credit after spending at least $3,000 on purchases in the first 90 days of account opening.

Annual fee

$0

Notable perks

You can boost the rewards you earn with this card through Bank of America’s Preferred Rewards for Business program. Depending on which Preferred Rewards level you qualify for, you can earn an additional 25% to 75% cash back, which is up to 5.25% in your chosen category.

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Bank of America’s Preferred Rewards program rewards consumers and small businesses based on their combined Bank of America and Merrill account balances. Qualifying accounts include checking accounts, savings accounts and investment accounts. The benefits you receive from this program depend on which tier you qualify for.

Preferred Rewards tiers are broken down as follows:

• Gold: Qualify with at least $20,000 and less than $50,000 in eligible deposits
• Platinum: Qualify with at least $50,000 and less than $100,000 in eligible deposits
• Platinum Honors: Qualify with at least $100,000 and less than $1,000,000 in eligible deposits
• Diamond: Qualify with at least $1,000,000 and less than $10,000,000 in eligible deposits

There are a variety of benefits available, such as rate discounts on various loans, but the main perk for cardholders is the rewards boost. Eligible Bank of America credit cards will earn 25% to 75% bonus rewards on purchases based on the cardholder’s Preferred Rewards tier:

• Gold: 25% credit card rewards bonus
• Platinum: 50% credit card rewards bonus
• Platinum Honors and Diamond: 75% credit card rewards bonus

The Preferred Rewards for Business program is very similar to the consumer Preferred Rewards program. However, you qualify based on your Bank of America and Merrill business deposit and investment account balances. The Preferred Reward for Business program doesn’t have a Diamond tier, but the account balance requirements for Gold, Platinum and Platinum Honors are the same. Also, the rewards boost to Bank of America Business cards is the same as it is for consumer cards: Gold is 25%, Platinum is 50% and Platinum Honor is 75%.

Bank of America issues a large range of credit cards for consumers and small businesses. The best Bank of America credit card for you will largely depend on your situation. You have the option to earn cash back, airline miles and to take advantage of generous introductory 0%-APR offers.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card list is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best travel credit cards.

To determine which Bank of America cards are the best for specific circumstances, CNBC Select evaluated the most popular Bank of America credit cards. We compared each card on a range of features, including travel rewards (points and miles), annual fee, welcome bonus, introductory and standard APR, one-time perks, annual perks, redemption rates, as well as factors such as required credit and customer reviews or personal experience when applicable. We also considered additional perks, the application process and how easy it is for the consumer to redeem points.

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