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Bank of America Cash Rewards Credit Card for Students

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Bank of America Cash Rewards Credit Card for Students Benefits

With the Bank of America Cash Rewards Credit Card for Students, cardholders get benefits including:

  • Zero dollar liability guarantee for fraudulent transactions
  • Account alerts for balances and due dates
  • Monthly FICO credit score access for free
  • Overdraft protection when you link your eligible Bank of America checking account to your credit card

Maximizing Rewards With the Bank of America Cash Rewards Credit Card for Students

Planning your purchases to earn this card’s sign-up bonus is a good way to maximize rewards. You should also plan purchases to align with the card’s bonus categories of grocery stores, wholesale clubs.

Bank of America Cash Rewards Credit Card for Students cardholders are eligible for the Preferred Rewards program. There are no fees for enrolling in Preferred Rewards. Benefits are awarded in three tiers and include free ATM withdrawals, increases in the percentages of your cash back rewards, higher interest rates on your Bank of America money market accounts, and discounts on mortgage fees and auto loan rates.

Comparisons to Other Cards

Annual fee: Both cards have no annual fee.

Rewards: The Bank of America Cash Rewards Credit Card for Students offers 3% cash back in a category of your choice, including gas, online shopping, travel, dining, drug stores, and home improvement and furnishings, 2% cash back at grocery stores and wholesale clubs and 1% cash back on all other purchases. The 3% and 2% cash back earnings are eligible on up to $2,500 in combined choice category, grocery store and wholesale club purchases each quarter (then 1%). Journey Student Rewards from Capital One cardholders earn 1% cash back on purchases. There is no cap on the rewards you can earn. Additionally, cash back increases to 1.25% if you make your monthly payments on time.

Sign-up bonus: The Bank of America Cash Rewards Credit Card for Students offers a $200 cash rewards bonus if you make at least $1,000 in purchases in the first 90 days of account opening. The Journey Student Rewards from Capital One does not offer a sign-up bonus.

Benefits: The Bank of America Cash Rewards Credit Card for Students offers monthly access to your FICO credit score for free. The Journey Student Rewards from Capital One comes with benefits such as emergency card services and fraud coverage.

Annual fee: Both cards have no annual fee.

Rewards: Bank of America Cash Rewards Credit Card for Students cardholders earn 3% cash back in a category of your choice, including gas, online shopping, travel, dining, drug stores, and home improvement and furnishings, 2% cash back at grocery stores and wholesale clubs and 1% cash back on all other purchases. The 3% and 2% cash back earnings are eligible on up to $2,500 in combined choice category, grocery store and wholesale club purchases each quarter (then 1%). The Discover it Student Cash Back offers rewards for good grades with a $20 statement credit each year you have a 3.0 GPA for up to five years. Enroll every quarter to earn 5% cash back at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal up to the quarterly maximum each time you activate. The card offers an unlimited 1% cash back automatically for all other purchases.

Sign-up bonus: The Bank of America Cash Rewards Credit Card for Students offers a $200 cash rewards bonus if you make at least $1,000 in purchases in the first 90 days of account opening. The Discover it Student Cash Back will automatically match all of your cash back earned at the end of the first year if you’re a new cardholder.

Benefits: Both cards offer monthly access to your FICO credit score for free. The Discover it Student Cash Back also lets cardholders utilize the Freeze it app, which allows cardholders to freeze and unfreeze their card’s usage at any time.

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