Bank of America® Customized Cash Rewards Credit Card is a cash back card designed for people who want more control over how they earn rewards. Instead of forcing every cardholder into the same bonus category, this card lets users choose where they want to earn their highest cash back rate, making it flexible for different spending styles.
This card may be especially useful for consumers who want rewards on everyday purchases without paying an annual fee. It offers cash back in a category of your choice, automatic rewards at grocery stores and wholesale clubs, and unlimited cash back on all other purchases. For people who like simplicity with a personal touch, the Bank of America® Customized Cash Rewards Credit Card can be a practical option.
Bank of America® Customized Cash Rewards
No annual fee Cash backHow the Bank of America® Customized Cash Rewards Credit Card Works
The Bank of America® Customized Cash Rewards Credit Card works by giving cardholders cash back in three main ways. The highest cash back category is the one you choose. During the first year, the card currently offers 3% cash back plus a 3% first-year cash back bonus in your selected category, for a total of 6% cash back in that category.
After the first-year bonus period ends, the selected category earns 3% cash back. Available choice categories include gas and EV charging stations, online shopping, dining, travel, drug stores and pharmacies, and home improvement and furnishings.
The card also automatically earns 2% cash back at grocery stores and wholesale clubs. The higher cash back rates apply to the first $2,500 in combined purchases each quarter in the choice category, grocery stores, and wholesale clubs. After that quarterly limit is reached, purchases earn unlimited 1% cash back.
All other purchases earn unlimited 1% cash back. This gives the card a simple base rewards structure, while still allowing users to maximize cash back in a category that fits their lifestyle.
Another useful feature is that you can change your choice category once each calendar month through Online Banking or the Mobile Banking app. If you do not change it, the category remains the same.
New cardholders may also qualify for a $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening.
More Advantages of the Bank of America® Customized Cash Rewards Credit Card
One of the biggest advantages of the Bank of America® Customized Cash Rewards Credit Card is the ability to choose your bonus category. This makes the card more adaptable than many fixed-category cash back cards.
For example, someone who spends heavily online may choose online shopping, while another person may prefer gas and EV charging, dining, or travel. This flexibility can help users align rewards with their real spending habits.
Another strong advantage is the $0 annual fee. Cardholders can earn cash back without paying a yearly cost to keep the account open. This makes the card easier to justify for people who want rewards but do not want a premium card.
The card also offers flexible redemption options. Cash rewards can be redeemed for statement credits, deposits into eligible Bank of America checking or savings accounts, credits to eligible Merrill accounts, eligible purchases at Amazon.com, or checkout with PayPal. Some redemption methods may have minimum requirements.
For eligible Bank of America customers, BofA Rewards™ can add even more value. Members may receive a rewards bonus on eligible credit card purchases, depending on program eligibility and tier.
The card also includes helpful security and account features. These include a $0 Liability Guarantee for fraudulent transactions, account alerts, paperless statements, digital wallet support, and access to Online and Mobile Banking.
Downsides of the Bank of America® Customized Cash Rewards Credit Card
The main downside of the Bank of America® Customized Cash Rewards Credit Card is the quarterly cap on the higher cash back categories. Once you reach the combined quarterly limit, those purchases earn the base 1% rate.
Another point to consider is that the card requires some attention if you want to maximize rewards. Since the choice category can be changed monthly, users who do not update it may miss opportunities to earn more cash back in a category that better matches their current spending.
The card also may not be ideal for people who want premium travel benefits. It is mainly a cash back card, not a luxury travel card with lounge access, travel credits, or hotel perks.
Another downside is that the regular APR applies after the introductory APR period ends. If you carry a balance, interest can reduce the value of the cash back earned.
Approval is also not guaranteed. Bank of America reviews creditworthiness, income, and other application details before making a decision.
Bank of America® Customized Cash Rewards Credit Card Fees and Costs
The Bank of America® Customized Cash Rewards Credit Card has a $0 annual fee. This is one of its strongest cost-related benefits because users can earn cash back without paying a yearly ownership charge.
The card also offers a 0% introductory APR for the first 15 billing cycles on purchases and on balance transfers made within the first 60 days of opening the account. After the intro APR period ends, a variable APR currently ranging from 17.49% to 27.49% applies.
Balance transfers made during the intro period have an introductory balance transfer fee. After that introductory fee period ends, future balance transfers are subject to a higher balance transfer fee. Balance transfers cannot be used to pay any account provided by Bank of America.
Other fees may apply depending on how the card is used. Cash advances, late payments, returned payments, or certain transactions can create additional costs. Because of that, it is important to review the official rates and fees before applying.
How to Apply for the Bank of America® Customized Cash Rewards Credit Card
You can apply for the Bank of America® Customized Cash Rewards Credit Card online through the official Bank of America website. Applicants may also be able to check whether they prequalify before submitting a full application.
During the application process, you will need to provide personal and financial information, including your name, address, income, employment details, Social Security number, and other information used to verify identity and evaluate credit eligibility.
Before applying, review the rewards structure, bonus offer, APR details, redemption options, and fees. It is also worth checking whether you qualify for BofA Rewards™, since that program may increase your rewards value.
The Bank of America® Customized Cash Rewards Credit Card can be a strong option for people who want customizable cash back, no annual fee, and flexible redemption options. It is especially useful for users who know where they spend the most and want to choose a rewards category that matches their lifestyle.
However, it may not be the best fit for someone who wants premium travel perks or a card that requires no reward strategy at all. But for everyday cash back with monthly category flexibility, the Bank of America® Customized Cash Rewards Credit Card is worth considering.
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