A Guide to Bank of America’s Student Credit Cards

Bank of America® gets low marks for its portfolio of four student credit cards, which are essentially identical to their non-student counterparts. The BankAmericard® credit card, for example, is more or less the same card as the BankAmericard® credit card for Students, and both require good credit (FICO scores of 690 or higher).

As such, this student-card portfolio hasn't been reimagined in a way that takes into consideration the unique financial profile of a college student, who likely lacks the credit scores to qualify.

In contrast, the best student credit cards on the market today boast features that reflect students’ spending habits and typically thin credit files. 

Here’s what you need to know about Bank of America’s student credit cards, all of which have an annual fee of $0.  

Key similarities

Good to excellent credit is required …

The similarities between Bank of America’s student and non-student cards unfortunately extend to the credit score requirement. To be approved for any of the student credit cards, you’ll need good to excellent credit, with a FICO credit score of at least 690. Many college students with a limited credit history won’t qualify. 

If your application for one of the Bank of America® student cards is denied, you can work on bulking up your credit score before applying again. But if you want immediate access to credit, look into other student credit cards, some of which don’t have any FICO credit score requirement at all.  

» LEARN: What to do when you’re denied a student credit card

… But student status is not

Despite the fact that “student” is a part of the name of all four credit cards, none of them actually requires an applicant to prove they are a student. Other credit cards, such as the Capital One Quicksilver Student Cash Rewards Credit Card, do ask for documentation that verifies claims of student status.

» MORE: Do you have to be a student to get a student credit card?

No annual fee

As with most other student credit cards, none of the student cards from Bank of America® charges an annual fee. That makes it easier to hold onto the card once you get it, which is a good thing given that length of credit history is a factor in your credit scores.

Lengthy intro APR period

With all four student cards, you can get temporary relief from interest on purchases and balance transfers. The BankAmericard® credit card for Students features the longest intro APR period of the four. To qualify for the intro APR on balance transfers, the transfer must be made within the first 60 days of account opening. 

Interest can always be avoided, however, by paying off credit card balances in full each month. 

» MORE: How international students and immigrant workers can get a credit card

Key differences

Sign-up bonuses

The BankAmericard® credit card for Students is the only one of the four that doesn’t offer a sign-up bonus. Here's what the others offer:

• With the Bank of America® Unlimited Cash Rewards credit card for Students and the Bank of America® Customized Cash Rewards credit card for Students, you can earn a $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening.

• The bonus offer for the Bank of America® Travel Rewards credit card for Students is 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.

How to earn rewards…

The reward structures of three of the four student cards vary. (The BankAmericard® credit card for Students doesn’t earn any rewards.) A decision among them will come down to your financial needs and how willing you are to keep track of bonus categories.

The Bank of America® Unlimited Cash Rewards credit card for Students strikes a good balance between ease of use and profitability. Every purchase earns 1.5% cash back.

The Bank of America® Travel Rewards credit card for Students is similar, except it earns points instead of cash back. Cardholders earn 1.5 points per $1 spent on purchases (3 points per $1 spent on eligible travel booked through the Bank of America® Travel Center).

The rewards structure for the Bank of America® Customized Cash Rewards credit card for Students is the most complicated of the four. Overall, it features higher possible rates, but you’ll have to work for them. The card earns 3% back in one of the following categories that you choose:

• Gas/EV charging stations.

• Online shopping. 

• Dining. 

• Travel. 

• Drugstores. 

• Home improvement and furnishings.

You'll also earn 2% back at grocery stores and wholesale clubs, and 1% back on everything else — but the 3% and 2% rates apply only up to the first $2,500 of combined spending in those categories per quarter. After hitting that limit, you'll earn just 1% back on everything.

The 3% category may be changed monthly, a benefit for those who can align their spending to match the bonus category selection. If you don’t make a selection, gas is automatically set as the 3% category. 

» SEE: Other credit cards that offer customizable rewards

… And how to redeem them

Points earned with the Bank of America® Travel Rewards credit card for Students may be redeemed for a travel credit, direct deposit to a Bank of America® checking or savings account, gift card, check or statement credit to a Cash Management Account with Merrill. The travel credit offsets qualifying travel and dining purchases. You must have at least 2,500 points in order to get a travel credit or cash reward, and at least 3,125 points for a gift card. To get the most value out of points, though, avoid cash redemptions. Points accrued on the Bank of America® Travel Rewards credit card for Students are worth 0.6 cent when converted to cash.

The Bank of America® Customized Cash Rewards credit card for Students and the Bank of America® Unlimited Cash Rewards credit card for Students have the same redemption options. Rewards earned with both cards can be cashed in for a statement credit, direct deposit to a Bank of America® checking or savings account, credit to a qualifying Cash Management Account with Merrill or qualifying 529 account with Merrill, or a check.