Posted by William Charles on July 31, 2018
Credit Cards

Published on July 31st, 2018 | by William Charles

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Bank of America Cash Rewards $200 Cash Signup Bonus

The Offer

Direct link to offer

  • Receive a sign up bonus of $200 after $500 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
  • Earns 3% on gas & 2% on groceries / wholesale clubs, up to a combined $2,500 per quarter
  • 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 late 2016. 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). They have also increased the sign up bonus on the travel rewards card to 25,000 points, we will have a post on that shortly. 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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xspes
xspes

If I already have a co-branded cash rewards card (the BoA NEA cash rewards card), can I still sign up for this bonus?

Tony
Tony

Yes you can. You can even got same bonus again and again as long as they approve you.

xspes
xspes

Denied by the automated system. Called in to the reconsideration line this morning and had them cancel my existing co-branded card in order to be approved for the new application. I only had two existing cards with BoA, but I’m 8/24 for cards across other networks.

Onsale
Onsale

Does anyone know if one is disqualified if they’ve had this card before?

John K
John K

Seems BoA has a limit of 4-5 cards. I know I had opened 10 BoA MLB cards back in the summer of 2016, my only other card with BoA being a travel rewards, so 11 total. In Jan-Feb 2017 6 cards were closed (5 remained open: the travel rewards, and 4 MLB – the first four I opened). I currently have 3 cards open with BoA. My plan is cancel one, then open 3 more and see if they stick. I’ll update when I find out how it goes.

Sa
Sa

SO application went to pending. 19/24. Things have so changed with BofA. Still remember that legend that got 8 MLB cards in a day.

AC
AC

I was denied. 10/24 status. Still have one business card with them opened Nov ’16. Closed MLB card Dec ’16 after about one year. Seems like they have gotten a lot stricter. Haven’t opened new cards for at least three months. I’ll try giving recon a call tomorrow.

Sa
Sa

did you call recon?
i am making ready to call for mine, trying to get some fresh input.

AC
AC

I just called them. No luck overturning. Analyst stated I have too many new accounts. Lol. Went and got the Disney card instead for the same bonus and spending. I thought for sure Chase would decline me after four cards. I only have one with BOA. Go figure…

el_pistolero
el_pistolero

8 MLB cards in a day? what year was this?

Andy
Andy

May/June 2016. People went wild with the MLB card bonus. A lot of people would just pick a different team in case BoA pressed about why so many cards. I got double approve late June 2016. I didn’t have the means for crazy organic spend at the time and didn’t MS at all. In retrospect, should have tried for at least a couple more.

JP
JP

Guess I’m almost legend then. Opened 7 in one day back then. What a time.

Sa
Sa

Update: So application was approved without calling reconsideration.

Keith
Keith

What’s the normal bonus on this card

Denis
Denis

$150

Judy Jones
Judy Jones

Fine print still shows $150, I made sure to screen shot

Rick H
Rick H

I’ve seen a review that mentions that issuance of this card on the Visa network is still possible by calling customer service after you have been approved. Had anyone been successful doing this?

ItsaMeMario
ItsaMeMario

The Susan Koman, WWF and US Pride cash rewards cards are already Visa and have exactly the same signup bonus and rewards structure.

andy
andy

I did this last month. I called and asked them to switch it. It took 2-3 weeks but I now have the VISA Signature version which I can now use at Costco! Also if you are a preferred customer you get the $200 bonus * 50% if gold or or 75% if Platinum

Nick
Nick

Is this a HP? Read the review but didn’t see it mentioned anywhere.

Nick
Nick

Is this a HP?

AP
AP

I already have this card. Can I sign up for another one and still get the bonus? I dont see any language about excluding existing card holders.

Ryan
Ryan

I have had this card for over a year and just applied again online and was rejected. But, I’ve also opened 6 cards in the past 2 months, so I’ll have to see what the rejection letter says.

Lisa
Lisa

How long after approval before the card shows on your login?

Wilson
Wilson

Also denied, 6/24. Don’t know why they have “customized offers” if they mean nothing

Ron
Ron

Is there any referral bonus link for referring someone to get this card ? There used to be a $50 referral bonus for this card in the past while the referee will be eligible for the signup bonus if they open a new dd account?
The link I have is broken https://www.bankofamerica.com/banking-information/error-page-en.html

Ann
Ann

That’s not the link you had, that’s a link straight to a guaranteed error page. 😉

Looks like the $50 bonus was last year and is expired. https://www.doctorofcredit.com/bank-america-cash-rewards-50-referral-bonus-150-signup-offer-refer-comments/

Fred
Fred

Was approved for co-branded. 4/24 overall (before this). Had two BofA (non co-branded CR and BBR), but none in the past 24 months.

Dave
Dave

Applied & approved for this today. Hard pull at Experian.

Mystral
Mystral

Declined (and reconsideration attempt number one failed) for:
“7 cards opened in the last ~yr and a half”
“limited deposits with bank of america”
@4/12, 9/24, only one other card with BoA that they wouldn’t even transfer the credit from or close out to be able to open the new one “because the new one wasn’t approved”.

At least they pulled TU (Experian was frozen).

Ann
Ann

I’m curious what they meant by “limited deposits”. Do you have a checking account BoA, but keep the minimum in it? Or no account at all? (Presumably neither would matter if they hadn’t already decided you had more recent card openings than they liked.)

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