Bank of America Accelerated Cash Rewards American Express Card Fees and Rates

This card offers excellent cash back rewards, no annual fee, and a 0 % introductory APR for the first 7 or 10 months, depending on your credit history. “Accelerated cash rewards” sounds appealing, but what does it really mean? You can redeem your rewards in increments of $50, and you can get your cash back as a direct deposit into your Bank of America checking or savings account, as a credit to your card statement, or in a check. In addition to the benefits offered by Bank of America, you’ll also get many of the benefits associated with being an American Express CardMember. The cash rewards, and many ways you can redeem the rewards, make the card appealing, especially for people who already have accounts with Bank of America.

There is no annual fee on this card. Balance transfers, as well as cash advances, direct deposits, and any form of cash advances carry a fee which is the greater of 4% of the transaction or $10.

If you are enrolled in overdraft protection of cash advances, you’ll receive a fee of 3% of the transaction or $10, whichever is greater.

Late payment fees are calculated as follows:

* $15 if balance is $100 or less
* $29 for balances of $100.01 – $250
* $39 for balances more than $250
* Returned payment fee: $35