80,000 Points
Worth $1,200
After you spend $4,000 on purchases on your new card in your first 3 months of card membership.
- 4.5%Alaska Air
- 4.5%Dining
- 4.5%Hawaiian Air
Annual Fee
$395
Rec. Credit
Good
Bank of America
Bank of America® Unlimited Cash Rewards Secured
The Bank of America Unlimited Cash Rewards Secured card is designed for individuals rebuilding their credit who want a dependable cash-back rate without paying an annual fee. It provides a straightforward way to establish a positive credit history while earning rewards on everyday spend.
Annual Fee
$0
Rec. Credit Score
Rebuilding
Good For
Credit rebuilding with cash back
All information about Bank of America® Unlimited Cash Rewards Secured has been collected independently by MaxRewards. Bank of America® Unlimited Cash Rewards Secured is no longer available through MaxRewards.
Opinions, reviews, analyses & recommendations are MaxRewards' alone, and have not been reviewed, endorsed or approved by any of these entities.
Overview
Is the Bank of America® Unlimited Cash Rewards Secured worth it?
This card is great for...
Rebuilding credit history
Flat-rate everyday spending
Zero annual fee credit building
For anyone looking to strengthen their credit profile, this card offers strong value by pairing credit-building functionality with a simple rewards structure. Earning an unlimited 1.5% cash back on every purchase is rare for a secured card, allowing you to earn meaningful rewards on everyday expenses without paying an annual fee. Your refundable security deposit determines your credit line, giving you control over your limit while Bank of America periodically reviews your account for potential graduation to an unsecured card.
The main drawback is the required upfront cash deposit, which locks up funds while you build credit. It also charges a 3% foreign transaction fee and lacks extra perks or a welcome bonus. However, as a straightforward tool to improve your credit score while earning cash back on daily expenses, it is a smart and low-cost choice.
MaxRewards Verdict
This card is ideal for rebuilding credit with zero annual fee and a reliable 1.5% earn rate, provided you can supply the upfront security deposit.
Earning
Rewards
This card uses a simple flat-rate cash-back structure, making it easy to earn rewards on every purchase while working on your credit profile.
CategoryRate
Everywhere
1.5%
Eligibility
Recommended Minimum Credit
Min: Poor
Poor
Fair
Good
Excellent
Poor credit or higher is recommended for this card.
Credit approval is not guaranteed. Meeting the recommended credit range does not ensure approval, and applicants with lower scores may still be considered.
Pricing
Rates & Fees
Annual Fee
$0
Purchase APR
27.74%
Variable
Transfer APR
27.74%
Variable
Cash Advance APR
1.00%
Variable
Foreign Transaction Fee
3%
Balance Transfer
5%
Cash Advance
$5 or 5%
Late Payment
$41
Opinions, reviews, analyses & recommendations are MaxRewards' alone, and have not been reviewed, endorsed or approved by any of these entities.
Other cards from Bank of America
See all 42 cards
80,000 Points
Worth $1,200
After you spend $5,000 on purchases on your new card in your first 3 months of card membership.
- 4.5%Alaska Air
- 4.5%Hawaiian Air
- 3%EV Charging
Annual Fee
$95
Rec. Credit
Excellent
70,000 Points
Worth $1,050
After you spend $2,500 on purchases on your new card in your first 3 months of card membership.
- 4.5%Alaska Air
- 4.5%Hawaiian Air
- 3%EV Charging
Annual Fee
$95
Rec. Credit
Good