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Bank of America offers a variety of credit cards with different rewards and benefits programs to meet the specific wants and needs of consumers. Whether you are looking for a personal credit that offers travel rewards, a student credit card to help you begin building credit, or a business credit card, Bank of America has a credit card that can fit your needs. No matter your budget, Bank of America has a card for you with many cards that don’t require an annual fee.
Bank of America Premium Rewards credit card is our top pick for the best overall credit card and the best travel credit card due to its flexible redemption options, generous bonus offer, and no foreign transaction fees. While it does come with a $95 annual fee, the rewards and benefits you get from this card can more than make up for the cost.
Compare the Best Bank of America Credit Cards
|Credit Card||Intro Offer||Rewards||Annual Fee||Regular APR||Min. Credit Score|
|Bank of America® Premium Rewards®|
Best Overall, Bank of america mastercard bill pay Travel
|50,000 bonus points after you make at least $3,000 in purchases in first 90 days of account opening||Unlimited points for every $1 spent on travel/dining Earn 2 points for every $1 spent on grocery store purchases through to 12/31/21 Earn 1.5 points for every $1 spent on all other purchases||$95||15.99% to 22.99%||670|
|Bank of America® Customized Cash Rewards for Students|
|$200 online cash rewards bonus after making at least $1,000 in purchases in first 90 days of your account opening||Earn 3% cash back in the category of your choice 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) Unlimited 1% on all other purchases||$0||13.99% to 23.99%||670|
|Bank of America Travel Rewards|
Best No Annual Fee Travel
|25,000 bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening–which can be redeemed for a $250 statement credit toward travel purchases||Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere, every time, and no expiration on points||$0||13.99% to 23.99%||670|
|Bank of America® Customized Cash Rewards Credit Card|
Best Cash Back
|Online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days after your account opening||Earn 3% cash back in the category of your choice 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/ grocery store/ wholesale club quarterly purchases) Unlimited 1% on all other purchases||$0||13.99 to 23.99%||670|
|Business Advantage Travel Rewards|
|Earn 30,000 bonus points when you make at least $3,000 in net purchases with 90 days of account opening Can be redeemed for $300 statement credit toward travel or dining||Unlimited 1.5 points for every $1 you spend on all purchases Earn 3 points per $1 spent on travel booked through Bank of America Travel Center||$0||12.24% to 22.24%||670|
|Bank of America® Customized Cash Rewards Secured|
Best for Bad Credit
|None||3% cash back in the category of your choice 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) Unlimited 1% on all other purchases||$0||23.99%||350|
Editorial Picks of the Best Bank of American Credit Cards
Bank of America Premium Rewards Credit Card
Best Overall, Best for Travel
Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere. Use the 12-month 0% APR promotion on purchases and enjoy no annual fee.
Read the full Bank of America Premium Rewards Credit Card Review.
Bank of America Customized Cash Rewards for Students
Students can enjoy a $200 cash rewards bonus offer after making at least $1,000 in purchases in the first 90 days of opening an account.
Read the full Bank of America Customized Cash Rewards for Students Review.
Bank of America Travel Rewards Credit Card
Best No Annual Fee Travel
Take advantage of the generous bonus offer of 25,000 points if you make at least $1,000 in purchases in the first 90 days of your account opening. This can be redeemed for a $250 statement credit toward travel purchases.
Read the full Bank of America Travel Rewards Credit Card Review.
Bank of America Customized Cash Rewards Credit Card
Best Cash Back
Offers 3% cash back in the category of your choice (gas, online shopping, dining, travel, drugstores, or home improvement/furnishings) as well as 2% cash back at grocery stores and wholesale clubs, and 1% cash back on all other purchases.
Read the full Bank of America Customized Cash Rewards Credit Card Review.
Business Advantage Travel Rewards Credit Card
Business owners can earn unlimited 1.5 points for every $1 spent on all purchases as well as 3 points per $1 spent on travel booked through the Bank of America Travel center powered by Expedia.
Read the full Business Advantage Travel Rewards Credit Card Review.
Bank of America Customized Cash Rewards Secured
Best for Bad Credit
Start rebuilding or repairing your credit while you earn cash back. Earn competitive rewards with a secured card and work toward being upgraded to an unsecured card with responsible use.
Types of Bank of America Cards
Bank of America issues Mastercard and Visa cards but does not issue cards on the American Express or Discover networks. Its cards include points and cash back rewards options for consumers and small businesses, along with cards for college students and those who want to transfer balances or build credit. The different types of credit cards offered by Bank of America include:
- Cash rewards credit cards
- Cards for building credit
- Credit cards for students
- Lower interest rate credit cards
- Points rewards credit cards
- Travel rewards credit cards
- Airline rewards credit cards
How Bank of America's Rewards Program Works
Bank of America's rewards points are earned at various levels based on the card product. They can be redeemed for cash back, statement credits, gift cards, or for travel through Bank of America's travel center. As with many issuers' rewards platforms, earned points generally have the greatest value when they're redeemed for travel through the travel portal.
Is a Bank of America Credit Card Worth Getting?
Whether you are looking for a personal credit card or a business credit card, Bank of America offers a variety of wicked tuna outer banks schedule cards to meet an array of wants and needs.
Credit Card Benefits
Those interested in earning cash back rewards, travel rewards, or points rewards can benefit from a Bank of America credit card. Students looking to build their credit while also earning cash back or travel rewards can benefit from a Bank of America Student credit card.
Credit Card Interest Rate
If you want a credit card that will help you to save on interest, Bank of America offers credit cards with 0% APR intro offers for purchases and balance transfers for a certain number of months.
Credit Card Fees
Bank of America offers many credit cards with no annual fee. Some credit cards, including the Bank of America Premium Rewards credit card, do have a $95 annual fee but are worth it for those who take advantage of the generous bonus offer and solid reward points program.
What Credit Score Is Needed for a Bank of America Credit Card?
Bank of America generally requires good or excellent credit for the majority of its consumer and business cards. A good to excellent FICO credit score ranges from 670 to 850. Bank of America does consider those with no credit history for its student card options and those with lower scores for its non-rewards and secured card options.
To apply for a Bank of America credit card, you can complete an online application and get a response in as little as 60 seconds. You will be asked to fill in some demographic information (name, address), information about your citizenship (including Social Security number), as well as bank of america mastercard bill pay information including your total annual income and primary source of income.
Once you have submitted all of your information, you will receive one of four decision messages. One is that your application has been approved. In this case, you can expect to receive your credit card within 10 days. You might also receive a message saying your application has been approved, but for a different card. It’s also possible to receive a message saying more time is needed to review your information. Finally, you may receive a notice saying you have been declined.
Before applying for a Bank of America credit card, it’s a good idea to check your credit score so you have a good understanding of your current creditworthiness. Bank of America uses all three of the major credit bureaus: Equifax, TransUnion, and Experian.
How Good Is Bank of America Customer Service?
Bank of America received a score of 812 out of 1,000 points in the 2020 J.D. Power U.S. Credit Card Satisfaction Study and ranked third out of 11 major national credit card issuers. The average score among major issuers was 810. Its mobile app was ranked above average for consumer satisfaction, scoring fifth in a 2020 J.D. Power survey. As another of its services, Bank of America offers customers access to their FICO credit score.
What Is the History of Bank of America?
Bank of America Corporation was formed through the merger of San Francisco, CA-based BankAmerica and Charlotte, NC-based NationsBank in 1998, creating one of the country's largest banking organizations. Bank of America can trace its roots to the Bank of Italy, started by an Italian immigrant to serve his community in 1904. Bank of America launched the BankAmericard in 1958, which was the second universal credit card ever offered, with Diners Club being the first. The card network behind the BankAmericard eventually evolved into Visa after being spun off from the bank in the 1970s. Bank of America dramatically grew its credit card portfolio when it acquired MBNA in 2004.
To choose the best Bank of America credit cards, we filtered our list of nearly 300 credit cards. We looked at credit card features including rewards, bonus offers, interest rates, fees, and benefits. We also considered the security of the card and the level of customer service provided. A weighted algorithm was used to determine which cards would be included in our final list.
MEET OUR CREDIT CARDS EXPERT
Ben Woolsey is Investopedia's Associate Editorial Director of Financial Products and Services, including credit cards. He has more than 30 years of experience in the financial services industry, including marketing for banking and financial institutions such as Associates First Capital and Bank One. Prior cibo matto cafe mansfield ma Investopedia, he managed credit card content for CreditCards.com and Bankrate.com.
The New York Child Support Debit Card
If custodial parents do not enroll in Direct Deposit, they will receive their support payments through the New York Child Support debit card. The debit card can be used anywhere Mastercard® debit cards are accepted.
Bank of America Mastercard®
Visit Bank of America's site for information about your new debit card. You will be able to
- Use your debit card everywhere Mastercard® debit cards are accepted
- Access your child support payments 24 hours a day, 7 days a week
- Access your funds at any Bank of America or Allpoint ATM
Questions about the Bank of America Mastercard® debit card
- Why should I receive my child support payments by debit card?
- Receiving your child support payments through the Bank of America Mastercard® debit card offers you important benefits:
- No check-cashing fees
- Increased security
- Faster access to your payments
- Flexibility—use the card in stores, online or by phone
- Pay bills in person or online
- Account information and customer service 24 hours a day, 7 days a week
With the new Where did the boho style come from of America debit card, you also can transfer funds 1st grade spelling words 2016 the card to your bank account. Sign in at Bank of America's New York Child Support Debit Card site, go to the Account Summary page, and select the "Transfer Funds" option.
back to FAQ
- What should I do if my card is expiring and I haven't received a replacement card?
- One month before the expiration date (month/year) on the front of your debit card, Bank of America will mail a new card to the address we have on record for you. If your address has changed within the 30 days before the mailing, you may not receive your replacement card. You should call the New York Child Support Debit Card Customer Service Center to request a replacement card: 844-323-7637 (TTY line for the hearing impaired 866-656-5913 or collect 423-262-1650 outside of the United States).
back to FAQ
- What free services are included with the card?
- There is no fee for any of these services:
- Purchase at merchants (signed, using PIN, online, phone, or mail purchases)
- ATM balance inquiries (all ATMs)
- Declined transactions (ATMs only)
- Teller cash access at financial institutions that accept Mastercard® debit cards
(limited to available balance only)
- Online, automated, live or international customer service inquiry
- Mobile app: Free download from Apple iTunes® and Google PlayTM
- View your balance and transaction history, suspend or reactivate your card, manage alerts, locate an ATM
- Account Alert Service
- Online funds transfer
- Mailed account statement
- International transaction fee
- Account closure check issuance
back to FAQ
- How can I avoid paying fees to use the card?
- Use your debit card where Mastercard® debit cards are accepted—in stores, online or by phone. There is no fee for a purchase with the card. (Keep in mind the free services included with the card.)
Avoid using the card to withdraw cash at an ATM. If you withdraw cash more than 2 times per calendar month at an in-network ATM (the Bank of America or Allpoint name and logo should be displayed on the machine) or at any out-of-network ATM, you will be charged a fee of 50 cents ($0.50) per transaction. Out-of-network ATMs may impose an additional "convenience fee" or "surcharge fee" for certain ATM transactions (a sign should be posted at the ATM to indicate additional fees).
To get cash back with a purchase at grocery stores, convenience stores or anywhere the Mastercard brand logo is displayed, choose "debit" when making your purchase and enter your PIN. Select the amount of cash back you would like and this amount will be added to your purchase.
There is no fee for a cash withdrawal at any financial institution that displays the Mastercard brand logo.
back to FAQ
- What are the fees for using the card?
- There are fees for using the card at any out-of-networkATM, for more than 2 in-network ATM withdrawals per calendar month, for international cash withdrawal, and for replacing the card, as shown in the following table.
ATM Transaction Fees Bank of America
or Allpoint ATM withdrawal
(in the U.S)
Two free per month
Out-of-network ATM withdrawal
(in the U.S.)
$0.50 per transaction ATM Withdrawal International
(all ATMs outside the U.S.)
$0.50 per transaction Other Service Fees Card Replacement
(in the U.S.)
No Fee for the first replacement each year
Card Replacement Express Delivery
$12.50 per request
Certain transactions may cause a hold to be placed on your card. Check your Bank of America cardholder letter for details.
back to FAQ
- What if I have questions or problems with my debit card?
- If you have questions or problems with your New York Child Support Bank of America Debit Card, contact the New York Child Support Debit Card Customer Service Center at 844-323-7637 (TTY line for the hearing impaired 866-656-5913 or collect 423-262-650 outside of the United States).
back to FAQ
- What if I can't activate my debit card?
- If you are unable to activate your debit card, contact the New York Child Support Debit Card Customer Service Center at 844-323-7637 (TTY line for the hearing impaired 866-656-5913 or collect 423-262-1650 outside of the United States).
back to FAQ
- Can I get a statement of charges on my debit card?
- Yes, you can get a statement from Bank of America or by contacting the New York Child Support Debit Card Customer Service Center at 844-323-7637 (TTY line for the hearing impaired 866-656-5913 or collect 423-262-1650 outside of the United States).
back to FAQ
- How do I report a lost or stolen debit card?
- Contact the New York Child Support Debit Card Customer Service Center at 844-323-7637 (TTY line for the hearing impaired 866-656-5913 or collect 423-262-1650 outside of the United States).
back to FAQ
- Do I have to accept or use the debit card to receive my payments?
- We believe the New York Child Support Bank of America Debit Mastercard® offers you important benefits, but if you prefer, you may complete, sign and return a Direct Deposit request form (PDF) to enroll in Direct Deposit at any time.
If maintaining an account for Direct Deposit or using the New York Bank of America debit card presents a hardship to you, you can write a letter to request that your payments be sent by paper check. Send your letter to the following address:
NYS Child Support Processing Center
PO Box 15367
Albany, NY 12212-5367
back to FAQ
- What if I haven't received my card?
- Call the Child Support Helpline at 1-888-208-4485 (TTY: 1-866-875-9975).
back to FAQ
Bank of America Cardholder information
EPPICard™ Debit Mastercard®—No longer affiliated with New York Child Pauls valley golf course ok EPPICard™ holders with a current child support order or arrears owed to them should already have received a new Bank of America debit Mastercard® in the mail. The new Bank of America debit cards began receiving child support payments on June 15, 2017.
As of June 16, 2017, child support debit cards from EPPICard™ issued by Comerica Bank are no longer affiliated with the New York Child Support Program, and the terms and conditions for your EPPICard™ are subject to change by the bank. New or increased fees may apply.
If your EPPICard™ debit card has a balance, you will need to use your available funds until the balance is zero ($0.00). Fees for the EPPICard™ have increased.
The following information applies to the EPPICard™ Debit Mastercard®. These cards stopped receiving payments on June 14, 2017.
- How can I check the balance on my EPPICard™?
- Call the card issuer toll free at 1-866-461-4093 (collect 801-352-3298 outside the United States).
- Can I transfer the EPPICard™ balance to the new card?
- No. The balance on your EPPICard™ cannot be transferred to the new card. You can continue to use the EPPICard™ until the balance is $0.00, or you can withdraw the EPPICard™ balance through a bank teller at any financial institution that accepts Mastercard®.
- What are the fees for using the EPPICard™?
- Fees for the EPPICard™ have increased. For current fee bank of america mastercard bill pay, call the card issuer toll free at 1-866-461-4093 (collect 801-352-3298 outside the United States).
- What if I have questions or problems with my EPPICard™?
- If you have questions or problems with your New York EPPICard™ Debit Mastercard®, call the card issuer toll free at 1-866-461-4093 (collect 801-352-3298 outside the United States).
- Can I get a statement of charges on my EPPICard™?
- Yes, you can get a statement at www.Eppicard.com or by calling the card issuer toll free at 1-866-461-4093 (collect 801-352-3298 outside the United States).
- How do I report a lost or stolen EPPICard™?
- Report a lost or stolen card by calling the card issuer toll free at 1-866-461-4093 (collect 801-352-3298 outside the United States).
Truist Bank, Member FDIC. © 2021 Truist Financial Corporation. Truist, the Truist logo and Truist Purple are service marks of Truist Financial Corporation.
Truist Bank, Member FDIC and an Equal Housing Lender
Investment and Insurance Products:
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Services provided by the following affiliates of Truist Financial Corporation: Banking products and services, including loans and deposit accounts, are provided by SunTrust Bank and Branch Banking and Trust Company, both now Truist Bank, Member FDIC. Trust and investment management services are provided by SunTrust Bank and Branch Banking and Trust Company, both now Truist Bank, and Truist Delaware Trust Company. Securities, brokerage accounts and /or insurance (including annuities) are offered by Truist Investment Services, Inc., and P.J. Robb Variable Corp., which are SEC registered broker-dealers, members FINRASIPC, and a licensed insurance agency where applicable. Investment advisory services are offered by Truist Advisory Services, Inc.GFO Advisory Services, LLC, Sterling Capital Management, LLC, and Precept Advisory Group, LLC, each SEC registered investment advisers. Sterling Capital Funds are advised by Sterling Capital Management, LLC. Mortgage products and services are offered through SunTrust Mortgage, a tradename for SunTrust Bank now Truist Bank. Insurance products and services are offered through McGriff Insurance Services, Inc. Life insurance products are offered through Truist Life Insurance Services, a division of Crump Life Insurance Services, Inc., AR license bank of america mastercard bill pay. Both McGriff and Crump are wholly owned subsidiaries of Truist Insurance Holdings, Inc.
"Truist Advisors" may be officers and/or associated persons of the following affiliates of Truist Financial Corporation: Truist Bank, our commercial bank, which provides banking, trust and asset management services; Truist Investment Services, Inc., a registered broker-dealer, which is a member of FINRA and SIPC, and a licensed insurance agency, and which provides securities, annuities and life insurance products; Truist Advisory Services, Inc., an SEC registered investment adviser which provides Investment Advisory services.
Comments regarding tax implications are informational only. Truist and its representatives do not provide tax or legal advice. You should consult your individual tax or legal professional before taking any action that may have tax or legal consequences.
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Truist Securities is a vast bank tulsa of Truist Financial Corporation. Truist Securities is a trade name for the corporate and investment banking services of Truist Financial Corporation and its subsidiaries. All rights reserved. Securities and strategic advisory services are provided by Truist Securities, Inc., member FINRA and SIPC. Loan syndications are offered by Truist Securities, Inc. Loans and loan related products are offered by Truist Bank.
How Long Does It Take a Credit Card Payment To Post?
Have you ever made your credit card payment, then eagerly waited for the payment to be applied to your account? Maybe you needed to clear up some available credit for a large payment or you're hoping to reduce your balance for a credit report update.
Both the timing and method of your credit card payment affect how quickly the payment is applied to your account.
The amount of time it takes for a payment to post to your credit card account depends on how you pay, when you pay, your credit card issuer, and your bank.
Which Payments Post Faster?
Electronic payments made online or by phone on a business day and during business hours will post to your credit card account faster than a mailed check. With electronic payments, you don’t have to wait for the mail to reach your credit card issuer.
Since payment posting and processing times can vary by the credit card issuer, the best way to figure out when your credit card payment will post to your account is to contact your credit card issuer. They’ll be able to give you a precise answer. If you already have a pending payment, your card issuer can let you know when you can expect that payment to post to your account and reflect in your available credit.
Bank of america mastercard bill pay Will Online or Phone Payments Post to Your Account?
While electronic payments are faster, they’re not instant. It can take one verizon fios bill pay phone number 800 three business days for an online or phone payment to post to your credit card account and reflect in your available credit. That’s because payments made using a checking account and routing number are processed in batches overnight and not in real time. Payments made on Friday nights or over the weekend may not post to your account until the following business week.
After you've made your payment, you can call or check your online account to see whether the payment has posted, along with your current balance and available credit.
When Will a Mailed Payment Post to Your Account?
Mailed credit card payments take the longest to post to your account. The credit card payment has to be delivered to your credit card issuer. Then, the payment processing center has to open up hundreds of envelopes, retrieve payments, and post the payments to each account.
Increased mail volume and postal holidays can delay mailed payments around holidays. Make sure you consider this when you mail a credit card payment.
Linked Checking and Credit Card Accounts
If your credit card is linked to your checking account, that is, both accounts are with the same bank, your credit card payment will post to your account the same day. This is the case with Bank of America, for example. Of course, you'll need to be sure the funds are available in your checking account.
Payment Posting vs. Timely Payments
Even though your credit card payment may not reflect in your available credit immediately, as long as you submit the payment information online (or by phone) by the cut-off time on the due date, your payment will be considered on time. However, if the payment is returned by your bank, for example, because you don't have enough money in your account, you’ll be charged a returned check fee of up to $40.
Freeing Up Credit in a Certain Timeframe
To guarantee your payment posts to your account by a certain date, it’s better to make the payment a few days before you need the available credit. Or, if you need a certain amount of credit available to make a purchase, contact your credit card issuer to ask that a phone payment post to your account right away.
When you need additional credit for a larger purchase, you might also consider asking for a credit limit increase. You may qualify if you’ve used your credit card responsibly, you have a good credit history, your income can support a bigger credit limit, and it’s been enough time since your last credit limit increase. Alternatively, your credit card issuer may allow you to temporarily exceed your credit limit for the purchase, especially if you’ve already made a payment that’s waiting to post to your account.
Frequently Asked Questions (FAQs)
Why is my credit card payment pending?
When you make a credit card payment, it will usually show as "pending" until your bank processes the transaction and transfers the funds from your bank account.
How do you cancel a pending credit card payment?
You can usually cancel a pending payment until your bank begins processing the transaction. If you made the payment online, you can go online or in the mobile app to cancel it. If you sent a check or made the payment over the phone, you will need to call the credit card issuer.
When should I make a credit card payment?
The deadline for scheduling or mailing your payment will depend on your due date and the time it takes your credit card company to receive and process payments. Many credit card issuers allow you to schedule your payment on the same day as the due date as long as you make the cutoff time. If you send the payment by standard mail, you should probably mail it at least a week before the due date.
Mastercard Expands Bill Pay Exchange Partners
PURCHASE, N.Y.–(BUSINESS WIRE)–Mastercard today announced that it is working with several new partners, including ConEd, to roll out Mastercard Bill Pay Exchange. Avidia Bank, Aliaswire Inc., OSG Billing Services and Transactis will be among the first to offer Bill Pay Exchange to their customers.
Mastercard rolled out Bill Pay Exchange to make it easier for consumers to view, manage and pay telecom, utility, rent, credit card, mortgage and other personal bills without having to set up accounts with different billers, remember multiple passwords, and log in to multiple websites.
With Bill Pay Exchange, consumers can pay their bills either with cards, real-time payments or from their bank account, and receive confirmation of payment all within their banking app or website.
This solution will give billers access to a new billing and payment channel, which can reduce the cost of mailing paper bills and processing checks, provide streamlined reconciliation and lower customer support costs due to added payment transparency. Billers will also have the option to accept cards, real-time payments, or traditional bank account payments as they do on their own websites.
“ConEd is committed to continuously improving our billing and payment options for our customers,” said Frank D’Amadeo, director of Treasury at ConEd. “By delivering bills directly to our customers’ banks, they have a new option to simplify how they can see and pay their bills.”
>Mastercard will also be testing the solution with eight other partners, including Best Digital Solutions, Inlet, Nordis Technologies, Papaya, Payrailz, Plastiq, RR Donnelley (RRD), and Synapse to make the solution available for consumers. These partners collectively will help drive adoption and scale for the solution in the United States.
“We’re excited to be partnering with Mastercard on the Bill Pay Exchange, as the solution aligns perfectly with our transformative approach to customer communications,” said Jonathan Gustave, Executive Vice President of OSG Billing Services.
“Since first announcing Bill Pay What is the capital city of washington dc, Mastercard has continued to evolve this digital solution to benefit consumers, billers and financial institutions alike,” said Ronald Shultz, executive vice president, New Payment Flows, North America, Mastercard. “With the bank of america mastercard bill pay of our trusted pilot partners, this solution will bring speed, transparency and efficiency to bill payments for the masses.”
“We are thrilled to bring our comprehensive content management capabilities and strong client relationships to our partnership with Bill Pay Exchange. We look forward to assisting Mastercard in its efforts to better connect with its customers through this new offering.” – John Pecaric, President, RRD Business Services.
“Mastercard Bill Pay Exchange brings compelling new presentment and payment experiences, including a choice of payment instruments, to Inlet’s expanding biller network while enabling improved consumer interactions at our bill pay channels.” – Christopher Johnson, CEO at Inlet.
“Through our partnership with Mastercard, our biller clients can deliver their consumers a significantly improved online bank bill pay experience. The Bill Pay Exchange is a perfect fit for our strategy to offer innovative billing and payment options to our customers. This product is a game changer for online bill pay and we are excited to be a part of it.” – Ronnie Selinger, President/CEO Nordis Technologies.
“With Bill Pay Exchange, Mastercard is leading the industry with an innovative approach to improving the bill payment user experience and transforming the relationship between billers and their financial institutions. Aliaswire is excited to participate as one of the initial partners” – Scott Goldthwaite, President, Aliaswire, Inc.
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
How to add an authorized user to a Bank of America credit card
You can help family members or friends struggling with a low credit score by adding them as authorized users on your Bank of America credit card.
But be careful. Once you add someone as an authorized user, that person gains full access to your credit card account. If this person runs up charges on your card and refuses to pay for them, you’re responsible for paying off that debt.
You need to make sure anyone you add as an authorized user to your Bank of America card is responsible enough to pay off the charges they make.
Adding an authorized user to a Bank of America credit card
What is an authorized user?
An authorized user is someone you permit to use your credit card. If you add an authorized user to your credit card, this person will get their own credit card with an identical account number as yours. The authorized user can then use this card to make purchases, just like you can.
Authorized users, though, are not responsible for making any card payments. That responsibility solely rests with the primary cardholder
Why add an authorized user?
You won’t receive any benefits by adding an authorized user to your Bank of America credit card account, and you’ll take on extra risk. But if you use the credit card responsibly, it will help your authorized user build credit.
This is why parents might add their children as authorized users. It can be challenging for young people who haven’t used credit cards or taken out loans to build credit on their own. Parents who add their children as authorized users can help them steadily build their credit and generate a solid credit score. When these children are ready to apply for credit cards on their own, they’ll have a credit history and score that banks can study.
Parents who add their children as authorized users can help them steadily build their credit and generate a solid credit score.
What are the requirements for adding an authorized user on a Bank of America card?
You can add anyone as an authorized user on your Bank of America credit card. There is also no minimum age requirement for an authorized user. You can add your children at a young age to your Bank of America account.
How to add an authorized user to your Bank of America account
First, log into your Bank of America online account. If you have more than one Bank of America card, pick the one on which you’d like to add an authorized user.
Next, click on the “Information & Services” option. Find the section tagged “Services” and click on the “Add an authorized user” option.
You’ll then have to fill out the authorized user’s information, including the user’s first and last names, county in which the user resides, date of birth, Social Security number and primary phone number.
See related: How to add an authorized user to a Chase credit card
Is there a fee for adding an authorized user on your Bank of America account?
Bank of America doesn’t charge a fee for adding an authorized user.
Do authorized users have access to all the benefits on a Bank of America card?
If a card offers a benefit, like auto rental insurance or trip cancellation boa payoff phone number, your authorized user will be able to take advantage of these perks. But only the primary cardholder can cash in rewards. However, every purchase your authorized user makes counts toward your rewards and cash back.
See related: How to share credit card rewards with authorized users
Can you limit the access your authorized user has?
You can’t control how much your authorized user uses your card. And you can’t set a lower credit limit for your user. But authorized users also can’t request an bank of america mastercard bill pay in your card’s credit limit.
What are the pros of adding an authorized user to your credit card?
Adding an authorized user doesn’t help you or your credit. But it can make a big difference for someone else’s credit.
“As long as the primary cardholder has great credit, becoming an authorized user can be a very useful tool for people with bad or limited credit,” said Karra Kingston, a bankruptcy attorney and founder of Staten Island-based Karra L. Kingston Esq.
Kingston said parents often add toshiba laptops walmart children as authorized users, even when these children are too young to use a credit card.
“Even if the parents aren’t giving their kids the card to use, just putting them on as authorized users can help their credit,” Kingston said.
As long as the primary cardholder has great credit, becoming an authorized user can be a very useful tool for people with bad or limited credit.
Karra Kingston, bankruptcy attorney
According to Lauren Bringle Jackson, financial counselor at Self Financial in Austin, Texas, being an authorized user is a great way for younger people to start building credit before they turn 18.
“Any other financial product you want to get on your own, you usually have to be 18 or older,” Bringle Jackson said. “A lot of credit card companies have no minimum age for authorized users. If you are a parent and you have great credit, this is a good option to help your children start building a longer credit history jobs in poplar bluff mo are the cons of adding an authorized user to your credit card?
You have little control over how much that user spends. And if an authorized user racks up a significant amount of debt on your card, you’re ultimately responsible for paying it off.
Jeff Zhou, founder of New York City-based Fig, a finance technology company, says you should clearly spell out how much authorized users can spend and when they have to pay you back.
You might say that an authorized user can only make $100 in charges a month. You might also spell out that the authorized user must pay you enough to cover his or her charges by the first or last day of every month.
See related: Can an authorized user get a credit card cash advance?
And if your goal is to simply provide authorized users a credit boost, you might state that your authorized user isn’t allowed to make any purchases on your Bank of America account for any reason.
“There has to be a very clear message about how the account is used,” Zhou said. “Here are the rules and here is how this is going to work.”
There has to be a very clear message about how the account is used.
Jeff Zhou, founder, Fig
How adding an authorized user – and becoming one – can affect credit
Both adding and becoming an authorized user comes with credit benefits and risks.
Authorized users benefit from the good credit habits of primary cardholders. When primary cardholders make their payments on time, the credit of authorized users get a boost. But if the primary cardholder makes a payment 30 days or more past the due date, that payment is reported late to the three national credit bureaus. This will not only cause a drop in the primary cardholder’s credit score but also the authorized user’s.
See related: Does adding an authorized user hurt your credit score?
A primary cardholder with a high credit utilization ratio can also hurt the credit of an authorized user. This ratio measures how much of your available credit you are using at any one time. The higher this ratio, the worse it is for your credit score. Credit utilization is the second most important factor in determining your credit score, right behind your record of on-time payments.
Say the primary cardholder has a credit limit of $10,000 on the card you are being added to. If that cardholder has $9,000 worth of debt on that card, that’s bank of america hr connect high credit utilization ratio, and it will reflect negatively on your credit score. If the primary cardholder pays her or his entire balance in full each month, that will boost your credit.
The key for authorized users, then, is to make sure the primary cardholder has a long history of making his or her credit card payments on time and does not carry large balances.
“Being added as an authorized user is not going to help you if the person adding you has bad credit or uses credit cards in a negative way,” Bringle Jackson said. “If they have a ton of debt or have missed a bunch of payments it will hurt your score. Their credit history becomes your credit history. If they are not using their credit responsibly, it can hurt your credit, too.”
Being added as an authorized user is not going to help you if the person adding you has bad credit or uses credit cards in a negative way.
Laura Bringle Jackson, financial counselor, Self Financial
An authorized user can also bring some pain to primary cardholders. If an authorized user makes big charges throughout the month, the credit utilization ratio of the primary cardholder might increase. This can damage the cardholder’s credit score.
Again, the key is to add an authorized user whom you trust to follow your rules and not run up too much debt on your card.
“Make sure you are working with an authorized user you trust,” Kingston said. “You can’t stop them from making charges once they are authorized users. Make sure they know what you expect and put them on a card with a smaller credit limit. Don’t add them to a card with a credit limit of $30,000.”
How to remove an authorized user from a Bank of America credit card
If you need to remove an authorized user from your Bank of America credit card, call 800-421-2110. A customer service representative will help you remove the user.
See related: How will removing an authorized user affect their credit score?
Adding an authorized user to your Bank of America credit card gives them an opportunity to benefit from your credit usage – but only if you use it responsibly and pay your bills on time. And if you are added as an authorized user, don’t take advantage of the primary cardholder. If you don’t follow their rules, they’ll drop you and you’ll no longer receive that boost to your credit.
The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.
Dan Rafter has covered personal finance for more than 15 years for publications ranging from The Washington Post and Chicago Tribune to Wise Bread, HSH.com and MoneyRates.com. His work has also appeared online at the Motley Fool, Fox Business, Huffington Post, Christian Science Monitor and Time. bank of america mastercard bill pay