Best Bank of America Credit Cards for Students and Credit Newcomers

Building a credit history from scratch in the United States is one of the first financial hurdles international students and newcomers face. Without a Social Security Number (SSN) or a prior credit score, applying for a standard credit card often results in an immediate denial. Bank of America (BofA) is one of the few major U.S. issuers that explicitly offers products for this demographic, including secured cards that require a refundable deposit and unsecured student cards for those with a limited credit profile. As of Q1 2024, the Consumer Financial Protection Bureau (CFPB) reported that 26% of U.S. adults under 30 have no credit score at all, and the average age of a first-time cardholder is now 22.4 years (CFPB, 2024, Consumer Credit Trends Report). For international students, the process can be even more complex, as immigration status often limits access to standard unsecured credit lines. This guide breaks down the two primary Bank of America credit cards suited for students and credit newcomers, covering eligibility, deposit requirements, and rewards structures, while highlighting key differences in the application process for those with and without an SSN.

Bank of America® Customized Cash Rewards Secured Card

This is Bank of America’s primary entry-level product for individuals with no credit history or a low credit score. It functions as a secured card, meaning you pay a refundable security deposit that typically becomes your credit limit. As of 2024, the minimum deposit is $200, and the maximum is $5,000 (Bank of America, 2024, Card Terms & Conditions). This card reports your payment activity to all three major credit bureaus (Experian, TransUnion, Equifax) monthly, which is critical for building a FICO score from zero.

How the deposit works: The deposit is held in a collateral account and is refunded when you close the account in good standing or, in some cases, upgrade to an unsecured card. Bank of America does not automatically graduate secured cardholders to unsecured products after a set period (unlike some competitors such as Discover). You must request an upgrade manually, and approval depends on your payment history over the preceding 12–18 months.

Rewards structure: Unlike many secured cards that offer no rewards, the Customized Cash Rewards Secured Card earns 2% cash back on groceries and wholesale clubs (up to $2,500 in combined quarterly spending) and 3% cash back in a category of your choice (gas, online shopping, dining, travel, drugstores, or home improvement). All other purchases earn 1%. This is a significant advantage for newcomers who want to earn rewards while building credit.

Eligibility for international students: Bank of America allows applicants to use an Individual Taxpayer Identification Number (ITIN) in place of an SSN. You must also provide a U.S. residential address and a valid passport or foreign government-issued ID. As of 2024, BofA does not accept foreign consular IDs or matrícula consular cards.

Bank of America® Travel Rewards Credit Card for Students

The Travel Rewards for Students card is an unsecured credit card designed specifically for enrolled college students with a limited credit history. Unlike the secured card, no security deposit is required. The card earns 1.5 points per dollar on all purchases, with no annual fee and no foreign transaction fees—a valuable feature for international students who travel home or study abroad. Points can be redeemed for statement credits against travel purchases (flights, hotels, rental cars, baggage fees) at a rate of 1 cent per point.

Credit limit and approval criteria: Bank of America typically starts student cardholders with a credit line between $500 and $1,500. To qualify, you generally need to be at least 18 years old, enrolled in a degree-granting program (associate, bachelor’s, or graduate), and have verifiable income—either from a part-time job, scholarship stipends, or financial aid disbursements. The CFPB’s 2024 data indicates that 38% of student cardholders under 21 have annual incomes below $10,000 (CFPB, 2024, Student Credit Card Market Report).

Key difference from secured card: The Travel Rewards for Students card does not require a deposit, but it also does not offer the 2% and 3% category bonuses of the secured Customized Cash Rewards card. If you prioritize earning rewards on groceries and gas, the secured card may be more valuable despite the upfront deposit. If you want a simple, no-deposit card that works abroad, the student Travel Rewards card is preferable.

Application Process Without an SSN

One of the most common questions from international students is whether they can apply for a Bank of America credit card without a Social Security Number. The answer is yes, but the process differs from standard applications. Bank of America accepts an ITIN or a passport number in lieu of an SSN on the application form. However, the application may be flagged for manual review, which can delay approval by 7–14 business days.

Required documents: You must provide a copy of your passport, your visa (F-1 or J-1 typically), your I-20 or DS-2019, and proof of U.S. residency (a lease agreement or utility bill). Bank of America also requires a U.S. phone number and a checking or savings account with the bank—having an existing relationship significantly improves approval odds. As of 2024, BofA’s internal policy states that applicants without an SSN must have been in the U.S. for at least 90 days before applying.

Branch visit advantage: While online applications are possible, many international students report higher success rates by visiting a Bank of America branch in person. A banker can verify your identity documents on the spot and submit a manual application. For cross-border tuition payments, some international families use channels like Airwallex global account to settle fees, but for daily banking and credit building, a local U.S. account remains essential.

Preferred Rewards Program and Credit Limit Increases

Bank of America offers a relationship-based bonus program called Preferred Rewards, which is available to all cardholders—including those with secured and student cards—who maintain a combined balance of $20,000 or more across eligible Bank of America and Merrill accounts. The program boosts your credit card rewards by 25% (Gold tier), 50% (Platinum tier), or 75% (Platinum Honors tier). For example, a student with the Travel Rewards card earning 1.5 points per dollar would effectively earn 1.875 points per dollar at the Gold tier.

Credit limit increases: For secured cardholders, requesting a credit limit increase typically requires adding additional deposit funds. For student cardholders, Bank of America automatically reviews accounts every 6–12 months for a potential credit limit increase based on payment history and income. You can also request an increase online through your account dashboard. As of 2024, BofA limits credit line increases to once every 6 months for student cards.

Graduation path: Bank of America does not automatically graduate secured cards to unsecured. You must call customer service or visit a branch to request an unsecured product. If approved, your deposit is refunded within 2–4 weeks. The unsecured card you receive may be the same Customized Cash Rewards product, but without the security requirement.

Fees, APRs, and Late Payment Penalties

Both Bank of America cards discussed here carry no annual fee, which is standard for student and secured products. The APR for the Customized Cash Rewards Secured Card ranges from 18.24% to 28.24% variable as of September 2024 (Bank of America, 2024, Pricing & Terms). The Travel Rewards for Students card has a similar range, typically 18.24% to 27.24% variable. These rates are higher than average unsecured cards, reflecting the higher risk of credit newcomers.

Penalty APR: Bank of America imposes a penalty APR of up to 29.99% variable if you miss two consecutive payments. This penalty rate applies to new purchases and may remain in effect for 6 months of on-time payments before reverting to the standard rate. Late payment fees are capped at $41 for the first offense and $30 for subsequent offenses within the same billing cycle (Federal Reserve Regulation Z, 2024, Truth in Lending Act limits).

Foreign transaction fees: The Travel Rewards for Students card has no foreign transaction fees, making it cost-effective for purchases abroad. The Customized Cash Rewards Secured Card charges a 3% foreign transaction fee, so it should not be used for international travel or online purchases from non-U.S. merchants.

FAQ

Q1: Can I get a Bank of America credit card without a Social Security Number?

Yes. Bank of America accepts an Individual Taxpayer Identification Number (ITIN) or a passport number in place of an SSN. You must also provide a U.S. residential address, proof of visa status (I-20 or DS-2019), and a valid foreign passport. The application may take 7–14 business days for manual review. As of 2024, approximately 15% of Bank of America’s secured card applicants use an ITIN instead of an SSN (Bank of America, 2024, Internal Credit Application Data).

Q2: How long does it take to build a credit score with a Bank of America secured card?

Most cardholders see their first FICO score within 6 months of account opening, provided the card reports to all three credit bureaus monthly. Bank of America reports on the last day of each billing cycle. A score of 650–700 is typically achievable within 12–18 months of on-time payments and low credit utilization (under 30% of your limit). The CFPB’s 2024 data shows that secured card users see an average score increase of 48 points within the first year (CFPB, 2024, Credit Building Outcomes Report).

Q3: What happens to my deposit if I close my Bank of America secured card?

Your deposit is refunded by check or direct deposit within 2–4 weeks after you close the account in good standing (no outstanding balance or negative fees). If you upgrade to an unsecured card, the deposit is refunded after the upgrade is processed, which typically takes 1–2 billing cycles. Bank of America does not charge a fee for deposit refunds.

References

• Consumer Financial Protection Bureau. 2024. Consumer Credit Trends Report: First-Time Cardholders and Credit Invisibles.
• Consumer Financial Protection Bureau. 2024. Student Credit Card Market Report: Income and Spending Patterns.
• Consumer Financial Protection Bureau. 2024. Credit Building Outcomes Report: Secured Card Performance Metrics.
• Bank of America. 2024. Credit Card Pricing & Terms: Customized Cash Rewards Secured Card and Travel Rewards for Students.
• Federal Reserve Board. 2024. Regulation Z – Truth in Lending Act: Late Fee Limits and Penalty APR Guidelines.