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The Bank of America® Customized Cash Rewards credit card is no slacker in credit card bonuses, featuring high cash back rates in several spending categories and a great sign-up bonus. Cardholders coveting gas rewards may be best suited for this card. Further, if you have any banking or investment accounts with Bank of America, you can raise those cash back rates even higher. But is this card the right one for you? Find out in our Bank of America® Customized Cash Rewards credit card review. Great for: Bonus and cash-back flexibility
Rating image, 4.50 out of 5 stars. Credit Score: Intro APR Info IconCircle with letter I in it. 0% Intro APR for 18 billing cycles for any purchases, or any balance transfers made in the first 60 days Purchases: 0%, 18 billing cycles Balance Transfers: 0%, 18 billing cycles Regular APR 16.99% - 26.99% Variable Rewards Info IconCircle with letter I in it. 3% cash back in your choice category, 2% at grocery stores & wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% on all other purchases. 1% - 3% cash back Welcome Offer Info IconCircle with letter I in it. $200 online cash rewards bonus after making at least $1,000 in purchases within the first 90 days of account opening $200 cash rewards
This credit card is a good fit for: Cardholders who want control over where they earn bonus cash back. Bank of America banking and investment clients can unlock higher cash back rates through its Preferred Rewards program. Top perksUp to 3% cash backYou’ll earn the following cash back rates with the card:
The 2% and 3% cash back rates are for your first $2,500 in spending combined at grocery stores, wholesale clubs, and in your choice category each quarter. If cash back is at the top of your credit card must-haves list, take a look at our picks for the best cash back credit cards to see other options. $200 intro bonusTo get this bonus, you must spend $1,000 within the first 90 days. Considering how much you’ll make for a very small minimum spending requirement, this card has one of the best sign-up bonuses among cash back cards. 0% intro APR offerThe addition of a 0% intro APR offer for 18 billing cycles on purchases and balance transfers made within 60 days is a standout feature for a card that already packs in a well-rounded suite of perks. For comparison, many cash back cards offer 0% intro APRs that are 12 months long, and arguably have worse cash back programs as well. No annual feeLike quite a few of the other cash back cards, this is a no annual fee credit card. Bonus cash back for Bank of America customersWhat makes Bank of America different from other card issuers is the special bonuses it offers for clients who also have banking or investment accounts. Here’s how it works: If you meet combined balance minimums in any bank accounts with Bank of America and investment accounts with Merrill, you’ll qualify for even larger bonuses through the Preferred Rewards program. The tiers to that program are:
You can see how each bonus would affect your cash-back rates in the table below.
As of Oct. 04, 2022
What could be improvedCaps on bonus categoriesIf you spend a lot in your chosen bonus category, grocery stores, and wholesale clubs, you could hit the $2,500 quarterly spending cap. At that point, you’ll only earn an unspectacular 1% back. 3% foreign transaction feeWhile foreign transaction fees are commonplace among cash back cards, that doesn’t mean we have to like them.
Find the best credit card for your needsCompare credit card rewards, fees, APRs, and more using our side-by-side comparison tool. Suggested credit scoreGood to excellent credit (generally a 670-plus FICO® Score) is suggested for the Bank of America® Customized Cash Rewards credit card. Note, people with higher scores can be declined and people with lower scores may be approved. Credit scores are just one factor used to make a credit decision. Case in point, Bank of America credit cards are unique in that on some denied applications, it has given "lack of deposits or investments" as a denial reason, and applicants have reported being offered the opportunity to get a credit card if they open a certificate of deposit with the bank first. Based on that evidence, it appears having a banking or investment account with Bank of America could help you get a card with them. The Bank of America Customized Cash Rewards is right for you if:If any of the following are true, then applying for the Bank of America® Customized Cash Rewards credit card is a no-brainer:
The sign-up bonus is both easy to qualify for and best-in-class, 3% back on a category of your choice is an excellent rate, and Bank of America’s customer bonuses can boost your cash back quite a bit. Since the Bank of America® Customized Cash Rewards credit card has no annual fee, it may be worth getting regardless as a card you use for purchases that fit its bonus categories. But if you’re not a Bank of America customer (or aren’t planning to become one), don’t spend heavily in any of those bonus categories, or are looking for more than just a sign-up bonus, we’d advise looking at our other picks for the top rewards credit cards. FAQs
What is Bank of America customized cash rewards?Bank of America® Customized Cash Rewards Secured credit card. 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs (on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter) and 1% cash back on all other purchases.
What is the credit limit on Bank of America customized cash rewards?The credit limit for the Bank of America® Customized Cash Rewards credit card is usually at least $1,000 and can be much higher, with some cardholders reporting limits of over $50,000. Bank of America uses your income, credit profile, and other information to set your card's credit limit.
Is Bank of America cash rewards credit card hard to get?The Bank of America Customized Cash Rewards card is as easy to get as most other no annual fee cash back credit cards. You'll just need to provide the typical personal information, Social Security number and total annual income through Bank of America's online application or over the phone by calling (800) 932-2775.
Does Bank of America customized cash rewards expire?As long as your account remains in good standing, Cash Rewards do not expire.
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