Bank of America Credit Cards for Bad Credit

Yes, Bank of America offers secured credit cards for people with bad credit or those who are building or rebuilding their credit. Bank of America currently offers four secured credit cards: the BankAmericard^® Secured Credit Card, Bank of America^® Customized Cash Rewards Secured Credit Card, Bank of America^® Unlimited Cash Rewards Secured Credit Card, and Bank of America^® Travel Rewards Secured Credit Card. All four require a refundable security deposit of $200 to $5,000 and have a $0 annual fee.

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Does Bank of America Have Credit Cards for Bad Credit?

Yes. Bank of America offers several secured credit cards designed to help establish, strengthen, or rebuild credit. These cards require a refundable security deposit, and the amount of the deposit, along with your income and ability to pay, helps determine your credit line.

Bank of America periodically reviews secured accounts, and based on your overall credit history and relationship with the bank, you may qualify to have your security deposit returned. Not all customers will qualify.

Does a Bank of America Secured Card Guarantee Approval?

No. Having the money available for the required security deposit does not guarantee that Bank of America will approve your application. Bank of America states that the secured card is opened upon credit approval, and your required deposit is considered along with your income and ability to pay when establishing the credit line.

The security deposit provides collateral for the account, but it does not mean that anyone who can provide the deposit will automatically be approved. You still have to meet Bank of America's approval requirements before the secured credit card account can be opened.

BankAmericard^® Secured Credit Card

The BankAmericard^® Secured Credit Card is the straightforward credit-building option in Bank of America's secured-card lineup. It has a $0 annual fee and requires a refundable security deposit of $200 to $5,000.

The BankAmericard Secured is designed specifically to help establish, strengthen, or rebuild credit. It does not offer a rewards program, making it a simple option if your primary goal is to have a secured credit card and build your credit history through responsible use.

➤ See the BankAmericard Secured Credit Card

Bank of America^® Customized Cash Rewards Secured Credit Card

The Bank of America^® Customized Cash Rewards Secured Credit Card gives you the opportunity to earn cash back while building your credit. It has a $0 annual fee and requires a refundable security deposit of $200 to $5,000.

The card lets you choose a category in which to earn 3% cash back, plus an additional 3% first-year cash-back bonus. You also earn automatic 2% cash back at grocery stores and wholesale clubs and unlimited 1% cash back on other purchases. The 6% and 2% rates apply to the first $2,500 in combined purchases each quarter in the applicable categories, after which the standard rates apply.

➤ See the Bank of America Customized Cash Rewards Secured Credit Card

Bank of America^® Unlimited Cash Rewards Secured Credit Card

The Bank of America^® Unlimited Cash Rewards Secured Credit Card is designed for someone who wants a simple cash-back rewards structure along with a secured credit card. It has a $0 annual fee and requires a refundable security deposit of $200 to $5,000.

The card earns unlimited 1.5% cash back on all purchases. There is no limit to the amount of cash back you can earn, and rewards do not expire as long as the account remains open.

➤ See the Bank of America Unlimited Cash Rewards Secured Credit Card

Bank of America^® Travel Rewards Secured Credit Card

The Bank of America^® Travel Rewards Secured Credit Card is the secured option for people who want to earn points rather than cash back. It has a $0 annual fee, no foreign transaction fees, and requires a refundable security deposit of $200 to $5,000.

The card earns unlimited 1.5 points for every $1 spent on everyday purchases. Points do not expire as long as the account remains open, and they can be redeemed for a statement credit toward eligible travel and dining purchases. There are no blackout dates or restrictions when using the card to book travel.

➤ See the Bank of America Travel Rewards Secured Credit Card

Which Bank of America Secured Card Should You Consider?

The four cards have the same basic secured-credit structure, but they are designed for different types of spending. The BankAmericard Secured is the simplest option if your main goal is building or rebuilding credit. The Customized Cash Rewards Secured offers category-based cash back, the Unlimited Cash Rewards Secured offers a simple 1.5% cash-back rate on all purchases, and the Travel Rewards Secured earns points that can be used toward travel and dining.

All four require you to have money available for the refundable security deposit. If you specifically want an unsecured credit card for bad credit that does not require a security deposit, these Bank of America secured cards are not what you are looking for.

What If You Don't Want a Security Deposit?

If you have bad credit but do not want to put down a security deposit, there are unsecured credit cards specifically designed for people with less-than-perfect credit. You can see five options on our Bad Credit Credit Cards With No Deposit page.

What Are the Best Pre-Approved Credit Cards for Bad Credit?

If you would rather look at credit cards that allow you to check for a pre-approved offer before applying, see our Best Pre-Approved Credit Cards for Bad Credit page. We selected two cards that stand out from many of the other options available to people with bad credit.