Double Your Bank of America Card Bonus with Rakuten's Latest Offer

If you've been eyeing a Bank of America credit card, now might be the perfect time to pull the trigger. Rakuten has sweetened the pot with some seriously generous bonuses on two popular BoA cards. We're talking up to $275 extra cashback (or a pile of Bilt points) on top of the card's own welcome offer. Let's break down what's on the table and how to snag it.

Which Card Should You Choose?

Both cards have no annual fee, so you don't have to worry about offsetting costs. But they serve different purposes. The Travel Rewards card is all about simplicity: you earn 1.5 points per dollar on every purchase, and points are worth 1 cent each when redeemed for travel or cash back. With the Rakuten bonus, you're looking at a total haul of $525 in cashback (or 52,500 points) after meeting the minimum spend. That's a fantastic return for a $1,000 spend.

The Customized Cash Rewards card, on the other hand, is a better long-term keeper. It gives you 3% cashback on up to $2,500 per quarter in a category you choose (gas, online shopping, dining, travel, drugstores, home improvement, etc.), plus 2% at grocery stores and wholesale clubs. The first year also includes a 6% bonus on your chosen category (up to $2,500 per quarter). With the Rakuten bonus, you get $200 extra, making the total $400 plus the 6% earnings.

• Travel Rewards: Best for a one-time bonus and simple earning
• Customized Cash Rewards: Better for ongoing rewards and category flexibility

How to Get the Rakuten Bonus

This is crucial: you must click through from Rakuten's website before applying. If you go directly to Bank of America or use another link, you won't get the extra cashback or Bilt points. So start at Rakuten, search for the card, and click the offer. Then complete the application as usual.

Also, make sure your Rakuten account is set to earn cashback or Bilt points. The bonus isn't available if you're earning American Express Membership Rewards. If you choose Bilt points, note that the conversion rate depends on your Bilt elite status. Without elite status, 2 cents per point means cashback is usually better. With elite status, 1 cent per point makes Bilt points a decent option if you value them for travel.

• Start at Rakuten and click through to the card offer
• Set your earning method to cashback or Bilt points (not Amex MR)
• Meet the minimum spend within 90 days to get both bonuses

Things to Watch Out For

First, the Rakuten bonus is on top of the card's welcome offer, but you still need to meet the spend requirement. That's $1,000 in 90 days for both cards—pretty easy for most people. Just don't forget to track your spending.

Second, if you're a Bank of America Preferred Rewards customer, you can earn even more on the Customized Cash Rewards card (up to 75% bonus on the 3% category). But be aware that Preferred Rewards terms are changing soon, so check the latest details before counting on that boost.

Finally, remember that the Customized Cash Rewards card has foreign transaction fees, so it's not ideal for international travel. The Travel Rewards card has no foreign fees, making it a better choice if you travel abroad.

Bottom Line

• Rakuten is offering up to $275 cashback (or 27,500 Bilt points) on the Bank of America Travel Rewards card, and $200 (or 20,000 Bilt points) on the Customized Cash Rewards card.
• You must apply through Rakuten to get the bonus—direct applications won't qualify.
• The Travel Rewards card gives a higher total bonus, but the Customized Cash Rewards card is better for ongoing rewards.
• Cashback is usually better than Bilt points unless you have elite status and value points for travel.

Common Questions