Bank of America offers credit-building solutions for people with limited or poor credit history. The BankAmericard® Secured Credit Card and the Bank of America® Customized Cash Rewards for Students are both accessible entry points into the credit system, each with clear paths to improving your credit profile.
Best BofA Cards for Bad/Limited Credit
1. BankAmericard® Secured Credit Card
For people rebuilding credit. Requires a $300–$4,900 security deposit. No annual fee. Reports to all 3 credit bureaus monthly.
2. Bank of America® Customized Cash Rewards Credit Card for Students
For students with limited credit history. Earn 3% cash back in a chosen category + 2% on groceries. $200 welcome bonus. No annual fee.
Pros & Cons
✅ Pros — Secured Card
- No annual fee — rare for secured cards
- Deposit fully refunded when you upgrade or close in good standing
- Reports to Equifax, Experian, and TransUnion monthly
- Access to BofA mobile banking and FICO® score
- Upgrade path to unsecured card after responsible use
❌ Cons — Secured Card
- No cash-back rewards
- High APR — carry no balances
- Minimum $300 deposit required
Rates & Fees
| Feature | Secured Card | Student Card |
|---|---|---|
| Annual Fee | $0 | $0 |
| Security Deposit | $300–$4,900 | None |
| Cash Back | None | 3%/2%/1% |
| Welcome Bonus | None | $200 after $1,000 in 90 days |
| Regular APR | 28.24% Variable | 19.24%–29.24% |
| Foreign Transaction Fee | 3% | 3% |
| Credit Check | Yes (but lenient) | Yes (student-friendly) |
Who Should Apply
The Secured Card is for anyone with poor credit (below 580), recent bankruptcies, or no credit history at all. The Student Card requires college enrollment and limited credit history — perfect for freshmen or transfer students starting their financial journey.
How to Apply
- Visit bankofamerica.com and search for "secured credit card" or "student credit card."
- For the secured card, choose your deposit amount during the application.
- For the student card, confirm your enrollment at an accredited US college/university.
- Submit your application and provide identity verification.
- Your deposit (for secured) will be taken within 5–7 business days of approval.
Frequently Asked Questions
Will the secured card help improve my credit score?
Yes — making on-time payments and keeping utilization below 30% will steadily build your credit. Most cardholders see improvement within 6–9 months.
How long before BofA upgrades the secured card to unsecured?
Bank of America periodically reviews secured accounts — typically after 12 months of responsible use — for upgrade to an unsecured card and deposit refund.
Does applying as a student hurt my credit score?
A hard inquiry will temporarily lower your score by a few points. However, the long-term benefit of building a positive credit history far outweighs this short-term impact.