Bank of America Cash Rewards Secured
3% on selected categories · $0 annual fee
The Bank of America Cash Rewards Secured stands out among secured cards because it actually earns real rewards while you build credit: 3% cash back in a category you choose from gas, online shopping, dining, travel, drugstores, or home improvement, plus 2% at grocery stores and wholesale clubs, with no annual fee. The catch is the cap: the 3% and 2% rates share a combined $2,500 quarterly limit before dropping to 1%, which is still plenty for most people starting out. The regular APR is a flat 27.49%, so carrying a balance would quickly erase any cash back, and a foreign transaction fee makes it a poor choice abroad. Use it to build a payment history, pay in full each month, and treat the rewards as a bonus rather than the reason to apply.
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 |