Our opinions are our own. SOME CARD INFO MAY BE OUTDATED This page includes information about the Bank of America® Premium Rewards® credit card, currently unavailable on NerdWallet. The ...

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It's a credit-builder credit card that doesn't require a security deposit, but it does come with its own set of caveats.

According to the Financial Sector Conduct Authority, the advertisement misrepresented the nature of the loan product by implying it was an investment rather than a credit facility.