Jason Gaughan
Bank of America credit cards executive

As the Consumer Card Product Executive at Bank of America, Jason Gaughan works with his team of dedicated associates to deliver best in class products that meet clients’ financial needs. Gaughan has more than 25 years’ experience implanting strategies and services that help empower customers financially.

Trusted & Secure

Bringing Simplicity to Cash Rewards

How Bank of America created a new card to help consumers optimize spending with ease

By Jason Gaughan, Bank of America credit card executive
Advertorial Disclosure

This is a sponsored post by Bank of America as part of Wise Bread's continued partnership with them.

We’re always looking for ways to simplify our lives, whether at work, at home or going about our day-to-day routines. We use robotic vacuums to help with cleaning, meal kit services to save trips to the grocery store, and automatic refills or auto-renewals to save time ordering our most used subscriptions. All of these tools help us to be more productive and clear up our busy days for our favorite activities.

At Bank of America, we also recognize that consumers want an easy way to earn rewards with their credit card, so we created the new Bank of America® Unlimited Cash Rewards card. When we recently asked clients what qualities they look for in a card, about half said uncomplicated rewards. And according to a Bank of America survey, more than 40% of our clients say they’ve increased their discretionary spending in recent weeks, especially around dining, getting together with family and friends and traveling.

With Americans beginning to increase their activity and spend more, this new card helps consumers optimize their spending and earn cash back without a second thought.

A card for every lifestyle

While every consumer is looking for different benefits in a credit card, the new Unlimited Cash Rewards card is a great option for every lifestyle because it helps clients optimize their spending, no matter what they are spending on. This new card:

  • Rewards all purchases. The Unlimited Cash Rewards Card offers 1.5% cash back on all purchases, with no limit on the amount of cash back earned.
  • Has no expiration on cash rewards and redemption is simple. Cardholders can redeem their cash back for any amount, at any time for statement credits, deposits directly into a Bank of America checking or savings account or for credit to an eligible account with Merrill.
  • Is simple and uncomplicated. Cardholders simply spend and earn cash back on all purchases — making it easy to earn cash back, no matter what a person’s spending patterns may be at the moment.
  • Allows Preferred Rewards members to earn even more. Members of Bank of America’s Preferred Rewards program earn 25% to 75% more cash back on every purchase made with the Unlimited Cash Rewards card, depending on their rewards tier. That means the unlimited 1.5% cash back on all purchases could increase to up to 2.62% cash back.

The latest addition to a suite of award-winning credit card options

This new card joins a suite of rewards cards from Bank of America, each designed to fit a variety of consumer needs. This includes the Bank of America® Customized Cash Rewards credit card, which offers consumers 3% cash back in a category of their choice — including gas, online shopping, dining, travel, drug stores, and home improvement/furnishings and 2% cash back at grocery stores and wholesale clubs (up to the first $2,500 in combined quarterly purchases). Customized Cash Rewards cardholders also earn unlimited 1% cash back on all other purchases.

We’re always thinking about ways to expand our offerings to give consumers more options and tools to improve their financial lives. If your discretionary spending has picked up and you’re looking for an easy way to offset costs and earn rewards as you go, our cash rewards credit cards can help you do just that.

For more information about the new Bank of America Unlimited Cash Rewards credit card, visit www.bankofamerica.com/credit-cards/products/unlimited-cash-back-credit-card/.