Bank of America calculates credit card rewards through a system called "Bank of America Preferred Rewards," offering up to 75% bonus rewards based on linked banking and investment balances.
Bank of America credit cards come with various interest rates, typically ranging from 12.99% to 26.99% APR, depending on the card type and creditworthiness of the applicant.
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Balance transfers to Bank of America credit cards usually have a promotional period of 12-18 months at a 0% APR, but may incur a balance transfer fee of 3-5%.
Late payment fees for Bank of America credit cards can reach up to $40, depending on the card type and payment history.
Bank of America's "Overlimit Protection" policy can help prevent incurring over-limit fees if the cardholder opts in to this feature, but it may reduce the credit limit accordingly.
Bank of America credit cards have a foreign transaction fee of 3% for most cards, except for select travel rewards cards explicitly marketed without this fee.
Bank of America offers complementary services, including "Credit Journey," a free credit score monitoring service available to both customers and non-customers.
The "Bank of America Mobile Banking" app allows user-friendly credit card account management, including real-time transaction notifications, card controls, and spending summaries.
Bank of America has a policy that allows customers to "Opt-In" or "Opt-Out" of unsolicited credit card offers, potentially reducing pre-approved offer spam.
Bank of America provides multiple options to dispute credit card charges, including secure messaging, phone calls, or mailing a dispute letter.
Bank of America's "Travel Assistance Services," included with most credit cards, features emergency assistance, medical transportation, and legal referral services during travel emergencies.
Cardholders can enable "SecureLock Equipped," allowing users to lock and unlock their credit card quickly through the mobile app, enabling fraud prevention.
Bank of America offers payment protection plans, allowing cardholders to insure minimum payments for up to 12 months in case of unemployment or disability, at an additional cost.
Bank of America's "ShopSafe" service generates temporary credit card numbers for secure online shopping, helping prevent data breaches on third-party websites.
"Fraud Alerts" sent via SMS text or email enable cardholders to be notified of potential fraudulent activity, allowing users to take swift action in case of unauthorized use.