Bank of America Cash Rewards Secured
3% on selected categories · $0 annual fee
Most secured cards pay nothing back, so the Cash Rewards Secured stands out for actually earning while you rebuild: 3% in one category you pick from gas, online shopping, dining, travel, drugstores, or home improvement, plus 2% at grocery stores and wholesale clubs, with no annual fee. That combination is why it ranks third on our list of the best secured cards. The limits are real, though: the 3% and 2% rates share a combined $2,500 per quarter cap, and anything past it drops to the same 1% you earn on all other spending. The 27.49% APR means this should be a pay-in-full card rather than a place to carry a balance, and the foreign transaction fee makes it a poor travel companion. Use it to build history and pick up a little cash back, then graduate to an unsecured card once your credit supports one.
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 Also includes wholesale clubs; cap is combined with choice category on first $2,500/qtr, then 1% | 2% |
Everything Else | 1% |
Card details
Regular APR | 27.49% variable |
Foreign transaction fee | Yes |