A secured credit card can be useful for anyone looking to build or rebuild their credit score. Bank of America Customized Cash Rewards Secured, allows you to boost your credit score while earning cash back on multiple purchases.
The card offers 3% cash back on the eligible category of your choice, 2% on grocery and wholesale clubs (up to $2,500 in combined quarterly purchases of category/grocery/club wholesale, then 1%), and 1% unlimited on all other purchases.
Other card details
The Bank of America Customized Cash Rewards Secured card offers a wide variety of benefits. There is a first-year welcome bonus of $200 cash online after spending $1,000 on purchases within the first 90 days of account opening. Additionally, Bank of America Preferred Rewards members can earn 25% to 75% point bonuses on all purchases.
Another advantage of this card is the possibility to choose the category you will receive cash back and change this selection up to once a month, as Bank of America offers a wide variety of selectable categories, allowing the consumer to adapt their choices to their needs and improve the management of expenses and savings.
The standard cashback category is gas, but the cardholder can also choose from online shopping, dining, travel, drug stores, and home improvement and furniture. And the choice can be changed from month-to-month online or via mobile app.
The process for Redeeming Rewards with this card is also simple and easy. And if you forget to redeem your rewards, don´t worry: they do not expire while your account is open.
Learn more about B.o.A. Customized Secured Cash Rewards Card
If you are considering the Bank of America personalized cash rewards card, it is vital that you know all the details of that card and how it might work for you.
The Bank of America Customize Cash Rewards Secured card requires a minimum deposit of US$300 and your account is periodically reviewed to determine if you qualify to switch to an unsecured card. If so, you will receive a refund of your security deposit.
Unlike other secured cards, the Bank of America Customize Cash Rewards Secured card does not have an annual fee. This card does not require you to have an excellent credit score once it is a secured credit card and you can apply even if you have a bad credit score or no credit history.
You can choose to redeem your rewards in the following ways: As a statement credit of any amount, as a direct deposit to an eligible Bank of America account, as a credit to an eligible Merrill account, as a check ($25 minimum redemption) or you can also set up automatic redemptions to a Bank of America or Merrill account as long as these redemptions are worth at least $25.
Other Benefits of the Card
- $0 Liability Guarantee: You will not be held responsible for unauthorized transactions as long as reports are made immediately.
- Overdraft Protection: You will have the option of using the card as overdraft protection for a Bank of America checking account.
- FICO Score: Free monthly update of your FICO score online or via mobile app after opt-in.
- Account Alerts: Configurable email, text, and mobile app alerts to remind you of billing due and payment.
- Digital Wallet Technology: Buy in-store or in-app using Apple Pay, Google Pay, or Samsung Pay.
- Online & Mobile Banking: Access to Online and Mobile Banking. Pay your credit card bill online, transfer funds, check available credit, and much more.
Is this card for you?
The Bank of America Customize Cash Rewards Secured is an ideal choice for anyone looking to build up a credit history or improve a bad credit score due to past issues. If you want it as your first credit card this will be a good choice once you can apply even if you don’t have a credit history and you can use this secured card to build your credit score while enjoying all of its features.
It is also designed for people who want to earn cash back on their purchases while building up credit. With this card, you can earn 3% cash back on the category of your choice, 2% on wholesale grocery stores and clubs, and an unlimited 1% on all other purchases. This flexibility in earning category rewards is a promising feature that will help you manage your income in the best way possible.
In addition, for the ones who already are Bank of America or Merrill users, this card offers many additional conveniences and features that will enhance their banking experience.
Many times, the process of acquiring a credit card can be long and difficult, with the Bank of America Customize Cash Rewards Secured Card you will have an excellent credit card that will allow you to manage your income and expenses and build a credit history (if that your case) while earning rewards and enjoying great benefits like the cashback bonuses.
If you think is time to get yours, sign up for the Bank of America Customize Cash Rewards Secured Card now and enjoy all its benefits! Keep reading this article to know how.