Looking for a secured credit card with a high rewards rate, no annual fee, and the potential for unsecured credit? Check out this Bank of America® Unlimited Cash Rewards Secured review.

This card is perfect for frequent travelers who enjoy earning rewards and benefits like lounge access and travel credits. Read on and learn all the details about this card to decide whether it is the right one for you.

The Bank of America® Unlimited Cash Rewards Secured Credit Card offers an efficient way to earn rewards while building credit. 

The card provides 1.5% unlimited cash back on all purchases with no annual fee. However, the card’s minimum deposit of at least $200 is somewhat high. Plus, there’s a foreign transaction fee. 

Despite this, the card’s simple rewards structure is easy to manage, and there’s potential to graduate to an unsecured card with good payment behavior. Cardholders can also access their FICO score for free.

The Bank of America® Unlimited Cash Rewards Secured Credit Card’s rewards structure is easy to understand, as it offers flat-rate cash back on all purchases. 

While there are other secured cards that may earn you higher rewards, few will offer the same sort of flat-rate cash back. 

Cardholders can redeem their rewards as statement credits or as deposits to a Bank of America Checking or Savings account.

The Bank of America® Unlimited Cash Rewards Secured Credit Card requires cardholders to secure a line of credit with a deposit equal to the credit limit. 

The institution requires a $200 minimum deposit. Cardholders can earn 1.5% unlimited cash back on all purchases for a $0 annual fee. 

The card also offers $0 fraud liability, FICO score access, and overdraft protection for Bank of America checking accounts.

Overall, the Bank of America® Unlimited Cash Rewards Secured Credit Card may best suit those looking for maximum reward leverage on a secured card across all categories.

However, to make comparisons for yourself, check out Forbes Advisor’s list of the Best Secured cards.

Now that you’ve familiarized yourself with this card it’s time for a comparison between this card’s pros and cons. Our Bank of America® Unlimited Cash Rewards Secured review would be incomplete without it.

No. The Bank of America® Unlimited Cash Rewards Secured is an excellent card for those who are new to credit and are trying to build credit.

Want to get your hands on the Bank of America® Unlimited Cash Rewards Secured card? Our application guide will walk you through the process. Click below to start.