Bank of America Cash Rewards Secured Credit Card Review
The Bank of America Cash Rewards Secured Credit Card is a great option for those looking to build their credit score. The card is designed to help you build or rebuild your credit history, while still providing you with the perks and rewards of a secured credit card. In this Bank of America Cash Rewards Secured Credit Card Review, we will look at the features, fees, and benefits of the card.
What are the Features of the Bank of America Cash Rewards Secured Credit Card?
The Bank of America Cash Rewards Secured Credit Card is a secured credit card, meaning that it is backed by a security deposit. This deposit acts as collateral for the card and is used to ensure that you pay your balance. This makes the card an ideal option for those looking to build or rebuild credit , as it is easier to qualify for than a traditional card. The card comes with a $0 annual fee and a rewards program that allows you to earn cash back on your purchases.
What are the Benefits of the Bank of America Cash Rewards Secured Credit Card?
The Bank of America Cash Rewards Secured Credit Card offers a number of advantages and features that make it a great choice for those looking to build their credit. The card offers a rewards program that allows you to earn %2 cash back on your first $2,500 in combined grocery and wholesale club purchases each quarter. You can also earn %1 cash back on all other purchases and an additional %10 bonus when you redeem your cash back rewards into a Bank of America® checking or savings account.
What are the Fees and Rates of the Bank of America Cash Rewards Secured Credit Card?
The Bank of America Cash Rewards Secured Credit Card has an annual fee of $0 and a variable APR of %20.24. The APR is based on the Prime Rate and can change at any time. There is also a %3 foreign transaction fee, which is charged on all transactions made outside of the United States.
What is the Minimum Security Deposit for the Bank of America Cash Rewards Secured Credit Card?
The minimum security deposit for the Bank of America Cash Rewards Secured Credit Card is $300. However; you can choose to deposit more if you want to increase your credit limit. The maximum credit limit for the card is $4,900, depending on your creditworthiness.
What is the Bank of America Cash Rewards Secured Credit Card Review?
Overall; the Bank of America Cash Rewards Secured Credit Card is an excellent option for those looking to build or rebuild their credit. The card has no annual fee, a rewards program, and a competitive APR.
Additionally; because it is a secured card, it is easier to qualify for than traditional cards. If you are looking for a secured credit card that can help you build your credit, the Bank of America Cash Rewards Secured Credit Card is a great choice.
