Bank of America Cash Rewards $200 Cash Signup Bonus

Update 4/8/19: Reader S. reached out about a preapproval offer they found in their login with the same $200 offer on just $500 spend. More interesting is that it shows an end-date of April 9th, so it’s possible the public $200 offer (below) will also expire then. Just a headsup, we’ll see what happens.

Update 4/6/19: Bonus is $200 again, last time it was $200 was in July 2018. Spend requirement is now $1,000 instead of $500

The Offer

Direct link to offer

  • Receive a sign up bonus of $200 after $1,000 in spend on the Bank of America Cash Rewards credit card.

Card Details

Read our full review of the Cash Rewards card.

  • No annual fee
  • 10% bonus when redeeming cash rewards to a Bank of America checking or savings account, bumped to 25%, 50%, or 75% for members of the Preferred Rewards program (doesn’t apply to sign up bonus)
  • You can choose a category to earn 3% cash back in
  • Earns 1% on all other purchases, or on gas, groceries, and wholesale club purchases after exceeding the $2,500 per quarter limit
  • 0% introductory APR offer for first 12 billing cycles on purchases and balances transfers (within first 60 days, 3% fee applies)

Our Verdict

We haven’t seen this $200 offer since mid 2018. This card/bonus used to be extremely popular as getting multiple Bank of America cards in the same day and under one single credit pull was done. Getting approved for multiples from Bank of America is now much more difficult. Some readers love these cash offers with low minimum spend requirements, but a lot of people will get better value from getting travel cards (e.g Premium Rewards 50,000 points30,000 point Amtrak offer or 30,000 Alaska miles + $100 statement credit offer).doc Before apply I’d recommend reading these things everybody should know about Bank of America credit cards.

Hat tip to US Credit Card Guide

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zura
zura (@guest_1056304)
September 16, 2020 21:16

is $2500 quarterly limit per card or per account? I have 2 boa cash reward cards, does that mean I have $5000 limit?

Puli H
Puli H (@guest_1056348)
September 16, 2020 22:24

That’s right it’s 2500 limit / card. So you have $5000 total on both the cards.

zura
zura (@guest_1056380)
September 16, 2020 23:16

thanks, kinda weird I did not got 3x bonus on my paypal coursera purchase.

Yu
Yu (@guest_1055047)
September 14, 2020 19:34

Does a platinum rewards member still get 75% more cash back on this card? Thanks.

Puli H
Puli H (@guest_1055121)
September 14, 2020 21:06
  Yu

Yes you do on eligible purchases. Not on the bonus though

Jin
Jin (@guest_1014388)
July 11, 2020 11:00

Very odd DP for this card. I am a Platinum Honors customer and already have a Premium Rewards account and 2 Cash Rewards cards (1 regular and 1 WWF). I tried applying for 2 more Cash Rewards today. First one was US Pride Cash Rewards, and I was instantly declined. Second was MLB Cash Rewards, and I was instantly approved. Since US Pride was declined, I tried again with Susan Komen Cash Rewards and was again instantly declined. Very odd that my second try actually got through somehow.

For more information, I tried applying for 2 Cash Rewards cards a couple months ago and was denied for both, so it’s nice I at least got one approved this time. I’m about 11/24.

veeRob
veeRob (@guest_998766)
June 15, 2020 21:20

Quick and easy bonus.

04/03/20: account opened
05/26/20: $1k minimum spend completed
06/15/20: $200 bonus posted (not going to redeem yet as I will be Premium Rewards in a few months)

Eric
Eric (@guest_998955)
June 16, 2020 09:25

I wouldn’t wait if I was you. Several years ago my Cash Rewards was closed by them and I lost my $200+ Rewards and they refused to give it back. Also, I don’t think the Rewards increase is retroactive.

veeRob
veeRob (@guest_1014222)
July 11, 2020 01:23

Thanks Eric. It’s a bit unclear from the post if you get your Rewards bonus when you earn or when you redeem, and I still don’t know for sure!

Fred
Fred (@guest_1014255)
July 11, 2020 02:40

No multiplier on the bonus anymore. They ended that when they changed the program early last year. I was able to get $200*1.75 in January 2019, but P2 was unable to do the same in June of that year.

veeRob
veeRob (@guest_1014552)
July 11, 2020 17:15

Thanks for the heads up, looks like DoC needs to update the original post!

 William Charles

SamL
SamL (@guest_1014621)
July 11, 2020 19:54

In this one from 2017
https://www.doctorofcredit.com/bankamericard-cash-rewards-credit-card-review-3-gas-2-grocerieswholesale-clubs/
“Even better? The signup bonus is awarded as cash rewards, so you can earn $110, $125, $150, or $175 as a signup bonus depending on your relationship bonus, and double that if you hop on a $200 signup bonus.”
However, I don’t think you can possibly be expected to update old posts. People need to look at the posting date, and realize it was describing the situation at the time.

veeRob
veeRob (@guest_1014714)
July 11, 2020 23:25

The wording on the post says you earn the bonus upon redemption. From what people have explained to me, you earn the bonus when spending occurs. Perhaps I’m getting it wrong as I don’t yet have PR status.

I also cashed out my rewards today since waiting isn’t an advantage, and I wasn’t offered any 10% bonus.

Baked
Baked (@guest_1014729)
July 11, 2020 23:57

veeRob  William Charles does BofA still award 10% when depositing into checking account reward points earned through Premium Rewards card ?

Jake
Jake (@guest_976356)
May 9, 2020 16:30

possibly targeted to current customers. in the “view my offer,” tab of my BOA homepage, I am showing an increased bonus amount of $250 after $1,000 spent

Jun
Jun (@guest_910067)
February 15, 2020 22:18

If I signed up for the BoA cash rewards $200, can I still apply for the MLB $200?

Shaw
Shaw (@guest_897416)
February 3, 2020 13:14

How long does it take for the bonus to appear after meeting the minimum spend requirements? The website says 8 to 12 weeks after meeting the requirements. But has anyone received the bonus sooner?

mshldm1234
mshldm1234 (@guest_852143)
December 2, 2019 15:33

Just wanted to comment that I got an offer for $250 for $1000 spend in first 3 months. I can’t find this anywhere, so if you wanna look into it that’d be great

I have a BoA checking account but never use it

Joe
Joe (@guest_780233)
July 9, 2019 00:36

How often is this card churnable? Can I open (and close) one every year? Every 6 months?!

Jenny
Jenny (@guest_748979)
April 16, 2019 09:32

The good times are no longer rolling on my BofA cash reward collection. I had 4 old ones, cancelled all, applied for two more
(Me and the husband), Both denied. Sent a letter saying we
“Have a sufficient number of cards.”. Rather insufficient imo.

MisterBill
MisterBill (@guest_750297)
April 19, 2019 17:39

So you had cards and cancelled them just so you could get the signup bonus again? And you’re looking for sympathy here? You won’t get any from me but I do I hope you weren’t actually planning on using the cards you no longer have (although it would be funny if you were).