Bank of America Credit Cards

Bank of America is a quite popular financial institution offering a variety of services. They provide banking services, auto and home loans, retirement, insurance and money management advice. However, one of their most popular services is the Bank of America credit cards. Bank of America credit cards are quite popular and come in a variety of types. You can find Bank of America credit cards for personal or business use. For students Bank of America cards are the ideal solution to give you a sense of confidence and you started on your way to independence once away from home. Plus, credit cards are available for those trying to rebuild credit and are one of the few major banks to continue this practice.

Cards for Personal Use

Bank of America credit cards are available for small businesses as well as for personal use but it’s the personal aspect where Bank of America excels. They have over twenty different card types to suit just about every situation. They have reward cards, cards for charities, personalized cards depicting sports and Nascar themes and more. If you have a need, Bank of America will likely have a solution for you. Some of the cards they have available for personal use include:

• BankAmericard and basic cards – These cards come in a variety of interest rates, annual fees and rewards programs to suit your needs and credit worth. You can choose the one best suited to you or contact a BoA representative to help you determine which one is right for you.

• Charity credit cards – Similar to rewards cards, you can use your purchases to get a percentage back that goes to support breast cancer awareness. Not only will you have great buying power with Bank of America credit cards but you can support a worthwhile cause while buying daily items.

• Sports cards – For Major League Baseball or NASCAR fans, this is the ultimate credit card for you. You can show your support for your team while making purchases. You can earn points good toward team merchandise, clothing and even tickets.

However, the most variety you will see in Bank of America credit cards is with the reward cards. You can choose from reward points, cash back, airline rewards, travel rewards and education rewards. You could earn general points good toward a variety of partner items, airline miles at select airlines, travel to resorts and casinos and even points good toward paying for your continued education.

For Those With Poor Credit

In order to be eligible for Bank of America cards you will need to have good to excellent credit. This is the only way you will likely get any unsecured credit card. For those with poor credit who want to start working on their credit score, though, a secure card is the perfect answer. You can use the credit card as you would any other card and start establishing or reestablishing your credit score. After some time with a secure card and showing a positive payment history you may then be eligible for a smaller unsecured credit card. The Bank of America credit cards that are secured require a minimum of $300 deposit and a maximum of $10,000.

Once your deposit is received, your credit limit will equal the amount of your deposit. So, if you deposit $500 you will have a credit limit of $500 you can use to charge purchases. There is an annual fee associated with the credit card and a rather high annual percentage rate. However, this may be the best solution for those with poor credit to reestablish it sufficiently. If you continue to regularly make the minimum required payment each month or pay off the balance completely, you may become eligible eventually for an unsecured card based solely on your payment history with credit cards.

For Small Businesses

Although Bank of America specializes in personal credit cards and solutions for a variety of situations, they also offer products geared toward the small business owner. There are basic business credit cards available in both Visa and Mastercard. You can choose to get employee credit cards for those who are authorized to make purchases and you can set the credit limits for each of those up to the maximum credit limit. For example, if you have an office manager who regularly purchases office supplies and miscellaneous items you may want to create a credit limit of $500 that will cover necessary expenses but little else. However, if you have an IT Director who regularly purchases computer equipment that can be high dollar items you may want to set a higher limit or no card limit.

There are also Bank of America cards available for business use where you can get cash back and reward points. These are perfect for using toward gift certificate for employees, rewards fr clients or travel related expenses such as air fare and hotel accommodations.

For Students

Leaving home for the first time can be scary but this is also a great time to start building credit. For those who are enrolled in an accredited college or university you can apply for the student card. There are low APRs and no annual fee. The student credit cards are designed to help those newly away from their parents’ home to learn how to manage their money and responsibly build their credit.

Bank of America credit cards are available in many different varieties to accommodate nearly every possible situation. They have reward cards, balance transfer cards and more available for personal use. They also have a line of business cards for small business owners to help manage their business. Students can benefit from credit cards by learning how to manage finances responsibly and even those with poor or no credit can apply and be accepted for secure cards.