Overall (9.1/10)
Interest Rates & APY (9.0/10)
Fees & Minimums (8.9/10)
Customer Service (9.2/10)
Mobile App & Digital Banking (9.1/10)
Rewards & Perks (9.2/10)

Bank of America Review:

Intro

Bank of America rewards relationship customers with up to 75% credit card bonus boosts and nationwide financial center access.

Full Review

Bank of America is one of the world's largest financial institutions, serving approximately 68 million consumer and small business clients with 3,800 retail financial centers and 15,000 ATMs. Its standout Preferred Rewards program boosts credit card cashback bonuses by 25% to 75% and reduces mortgage origination fees for clients who maintain qualifying balances across Bank of America and Merrill investment accounts.

Pros

  • Preferred Rewards boosts credit card cashback by 25% to 75%
  • 3,800+ financial centers and 15,000+ ATMs nationwide
  • Seamless integration with Merrill Edge self-directed investing
  • Customizable 3% cashback categories on Customized Cash Rewards

Cons

  • Low standard APY on regular savings accounts
  • Monthly maintenance fees apply without qualifying balances
  • Foreign transaction fees on entry-level cashback cards
Feature Value
Overall Rating 4.7
Savings APY / AER 0.04% - 4.15% APY
Deposit Insurance FDIC Insured ($250k)

Bank of America: Products

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Bank of America Customized Cash Rewards

Bank of America Customized Cash Rewards

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Bank of America Advantage Plus Banking

Bank of America Advantage Plus Banking

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Bank of America Conventional & Community Home Loans

Bank of America Conventional & Community Home Loans

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Bank of America Dealer & Direct Auto Loan

Bank of America Dealer & Direct Auto Loan

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Bank of America: Categories

Auto Loans

Auto Loans

Rated 9.2

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CD Rates & Fixed Deposits

CD Rates & Fixed Deposits

Rated 9.1

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Business Banking

Business Banking

Rated 9.1

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Personal Loans

Personal Loans

Rated 8.6

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Mortgages & Home Loans

Mortgages & Home Loans

Rated 8.4

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Credit Cards

Credit Cards

Rated 8.1

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High-Yield Savings

High-Yield Savings

Rated 7.3

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Checking Accounts

Checking Accounts

Rated 6.8

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