Bank of America Cash Rewards Credit Cards for Students Review

Rating: 7.4 / 10 (Very good)
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Founded in 1904, Bank of America is a leading multinational banking and financial services corporation offering products and services from eight lines of business through approximately 4,600 retail financial centers and over 15,000 ATMs. Bank of America has been rated A+ by the Better Business Bureau and holds a 6.6 (average) score on

How is Bank of America rated?


Card Characteristics
Additional Services
Customer Experience

Overall Rating: 7.4 / 10 (Very good)

Although Bank of America's Cash Rewards credit card wasn't originally designed for students, it's comprehensive security features, reasonable APR, and excellent bonuses and rewards make it an ideal starter card for any qualifying applicant. This card could be particularly beneficial for students who spend a good deal of money on groceries and gas and want to enjoy great perks like cash back rewards while building their credit score.

Bank of America Card Characteristics

Card Characteristics - 7.3 / 10

Unlike other credit cards, Bank of America Cash Rewards doesn't charge annual fees, and late fees are limited to a maximum of $38. There is a 25-day grace period for late payments, and the bank extends a "zero liability" guarantee that protects cardholders against fraudulent transactions. In accordance with the Credit CARD Act, Bank of America also provides overdraft protection, so customers can rest assured they won't exceed their credit limit. This card has an introductory APR of 0% that will later increase to anything from 14.24% to 24.24%. Cash advance rates are a tad higher, ranging from 17.24% to 26.24%.

Quick View

Minimum APR
Maximum APR
Card Type
Minimum Age
Introductory Rates
Introductory 0% APR for your first 12 billing cycles for purchases, and for any balance transfers made within 60 days of opening your account.


  • Social Security Number

Fees and Penalties

  • Late Fees
  • Foreign Transaction
  • Cash Advance
  • Balance Transfers

Bank of America Additional Services

Additional Services - 7.8 / 10

Bank of America offers customers mobile and text banking, monthly FICO score updates, a paperless statement option, and online shopping security with their free ShopSafe service. The bank also protects cardholders against fraud and other mishaps, alerting them about upcoming due dates, balance updates, and unusual spending patterns. Their Cash Rewards credit card features 1% cash back on every purchase, up to 2% at grocery stores and wholesale clubs, and 3% on gas. There is no annual fee, no expiration on rewards, and even a $150 online cash rewards bonus for those who spend at least $500 within 90 days of opening their account.


Bonus Rewards
Cash Back Rewards
Wholesale Stores

Extra Services

  • Monitoring Alerts

Bank of America Customer Experience

Customer Experience - 7 / 10

Although they hold an A+ rating with the Better Business Bureau and a Trustpilot score of 6.6 (average), the scale of Bank of America's operations has made it a target for online consumer complaints and negative feedback. Nevertheless, the lending institution remains among the largest, most financially stable multinational enterprises in the country, servicing over 46 million customers worldwide. They provide a good range of customer service options such as over-the-phone assistance, a live chat, and a convenient mobile application.

Customer Service

24/7 Support
Live Chat

Customer Satisfaction

BBB Rating
Trust Pilot Rating
6.6 out of 10
CFPB Total Complaints
Date Collected

Company Profile

Full Name
Bank of America Cash Rewards Credit Cards for Students
Company Website
100 North Tryon Street, Charlotte, NC, 28255

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Top Rated
8.2 / 10
  • Easy-to-meet requirements
  • Travel protections
  • Purchase protections
  • First late-fee waiver
  • All the benefits of a MasterCard Platinum
  • Ideal for foreign students