Bank of America Cash Rewards Secured
3% on selected categories · $0 annual fee
Most secured cards ask you to give up rewards while you rebuild, and this one does not: you choose a 3% category from gas, online shopping, dining, travel, drugstores or home improvement, and earn 2% at grocery stores and wholesale clubs on top, with no annual fee. That combination is why it ranks #2 on our Best Secured Credit Cards list with the Best for Rewards badge. Read the cap before you plan around it, because the 3% and 2% rates apply to a combined $2,500 in purchases per quarter and everything past that, along with all other spending, earns 1%. The APR is a flat 27.49% and the card does charge foreign transaction fees, so this is one to pay in full every month and leave behind when you travel abroad. Used that way, it is one of the better places to rebuild credit without giving up cash back to do it.
Earn rates & credits
| Category | Rate |
|---|---|
Choose 1 category 3% in choice category (gas, online shopping, dining, travel, drugstores, home improvement); cap is combined with groceries/wholesale-club row on first $2,500/qtr, then 1% | 3% |
Groceries Grocery stores; cap is combined with the choice category and wholesale clubs on first $2,500/qtr, then 1% | 2% |
Wholesale Clubs Wholesale clubs; cap is combined with choice category and grocery stores on first $2,500/qtr, then 1% | 2% |
Everything Else | 1% |
Card details
Regular APR | 27.49% variable |
Foreign transaction fee | Yes |