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Bank of America® Customized Cash Rewards credit card

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Bank of America® Customized Cash Rewards credit card

4.1WalletHub Rating

WalletHub Rating

4.1

This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Finance New Purchases." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.

Editor’s Rating

4.0

User Reviews

3.8

Market Comparison

4.1

fees: 4.0

rewards: 5.0

cost: 4.3

APR: 3.9

TermsReviewsFAQContact

WalletHub Rating

4.1/5

The Bank of America® Customized Cash Rewards credit card is a good credit card for people with excellent credit who want to earn 2% - 3% cash back on up to $2,500 spent per quarter in select categories (1% otherwise). Plus, the Bank of America Customized Cash Rewards credit card is easily worthwhile given its $0 annual fee and initial bonus. New cardholders get $200 for spending $1,000 in the first 90 days. Info about the Bank of America® Customized Cash Rewards credit card has been collected by WalletHub to help consumers better compare cards. The financial institution did not provide the details.

WalletHub Rating Breakdown

User Reviews

3.8/5

1,319 reviewsRead and write reviews

Editor’s Review

4.0/5

John Kiernan, Credit Card EditorRead full review

Market Comparison

4.1

The Market Comparison is a key component of the WalletHub Rating, as it measures how appealing the terms of a card are compared to a pool of over 1,500 credit card offers monitored by WalletHub. To ensure cards are evaluated for their most relevant purpose, we score each card across various cardholder needs and select the rating for the need with the highest score, which is “Finance New Purchases” for this card.

Fees

4.0

Rewards

5.0

Cost

4.3

APR

3.9

4.1/5

Compared against 1,500+ credit cards

KEY TERMS

Excellent Credit

Bank of America Customized Cash Rewards credit card Annual Fee

Bank of America Customized Cash Rewards credit card APR on Purchases

0% intro APR for 15 billing cycles, 18.24% - 28.24% Variable APR after that

Bank of America Customized Cash Rewards credit card Balance Transfer

0% intro APR for 15 billing cycles for any balance transfers made in the first 60 days, 18.24% - 28.24% Variable APR after that

Balance Transfer Fee 3% for 60 days from account opening, then 4%

Bank of America Customized Cash Rewards credit card Rewards

$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.

Choose 3% cash back on gas and EV charging station, online shopping/cable/internet/phone plan/streaming, dining, travel, drug store/pharmacy or home improvement/furnishing purchases.

If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.

No annual fee and cash rewards don’t expire as long as your account remains open.

Bank of America Customized Cash Rewards credit card's Additional Info

0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.24% - 28.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.

Contactless Cards - The security of a chip card, with the convenience of a tap.

This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

Editor's Review
Fact checked

John Kiernan

April 8th, 2024

Fact Checked by Alina Comoreanu

Senior Researcher

Bank of America Customized Cash Rewards credit card Pros & Cons

$200 initial bonus (online exclusive)

Up to 3% cash back

No annual fee

Potential for a very high regular APR

3% foreign-transaction fee

Bank of America Customized Cash Rewards credit card Review

The Bank of America® Customized Cash Rewards credit card is a good credit card for people with excellent credit who want to earn 2% - 3% cash back on up to $2,500 spent per quarter in select categories (1% otherwise). Plus, the Bank of America Customized Cash Rewards credit card is easily worthwhile given its $0 annual fee and initial bonus. New cardholders get $200 for spending $1,000 in the first 90 days.

That is not to say the Bank of America Customized Cash Rewards card is right for everyone. It’s not ideal for big-spenders given the bonus-rewards limits, for example, and it has a high regular APR. You can learn more about the pros and cons of the offer below.

Bank of America Customized Cash Rewards credit card Review Highlights

$200 initial bonus if you apply online

Online applicants who charge at least $1,000 to their Bank of America Customized Cash Rewards credit card within 90 days of account opening currently stand to receive a $200 bonus. Few C-notes ever come so easy.

Ongoing rewards not quite as simple as 1-2-3

Yes, you will earn 1% cash back on most purchases made with this Bank of America Customized Cash Rewards card, in addition to 2% back on groceries and wholesale clubs, and 3% cash back on a category of your choosing. But don’t start singing Jackson 5 songs just yet, as there is a slight catch. The 2% and 3% earning rates only apply to the first $2,500 spent in those categories each quarter. If you spend more than that, you might want to find a different card.

Above-average 0% intro rates

This Bank of America cash card also has financing appeal, thanks to its 0% intro rates on new purchases and balance transfers for the first 15 billing cycles your account is open. You shouldn’t get too excited, though, as you need to transfer your balance within the first 60 days. Furthermore, there is a balance transfer fee of 3% for 60 days from account opening, then 4%, that spoils the transfer part of the deal. And after the intro APR offer ends, a 18.24% - 28.24% Variable APR will apply.

No annual fee, but not free

Although the Bank of America Customized Cash Rewards credit card is about $21.58 per year cheaper than the average credit card, by virtue of it not charging an annual fee, that’s neither uncommon for a cash back credit card, nor the only fee you’ll need to watch out for. For instance, Bank of America Customized Cash Rewards is ill-suited for traveling abroad or making purchases through internationally based merchants given its 3% foreign-transaction fee.

Excellent credit is a must

Make sure to check your credit score before applying because only the roughly 40% of people who have excellent credit can qualify for the Bank of America Customized Cash Rewards credit card.

Above-average regular APR

The average credit card for excellent credit has a 18.01% regular APR, according to WalletHub’s latest Credit Card Landscape Report. That means you are bound to overpay if you carry a balance from month to month with the Bank of America Customized Cash Rewards credit card, because of its regular rate.

At the end of the day, the Customized Cash Rewards card is a solid option for saving on gas and groceries. The card also has some appeal if you want to save on interest, but it can't hurt to look at the best credit card rates out there.

Bank of America Customized Cash Rewards credit card Video Review

Compare The Bank of America Customized Cash Rewards credit card vs. Popular Alternatives


4.1WalletHub Rating WalletHub Rating 4.1 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Finance New Purchases." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 4.0 User Reviews 3.8 Market Comparison 4.1 fees: 4.0 rewards: 5.0 cost: 4.3 APR: 3.9	4.1WalletHub Rating WalletHub Rating 4.1 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Earn Rewards." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 5.0 User Reviews 3.6 Market Comparison 4.0 fees: 3.8 rewards: 3.4 cost: 4.7 Other Features: 0.0	4.8WalletHub Rating WalletHub Rating 4.8 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 4.4 User Reviews 3.5 Market Comparison 5.0 fees: 5.0 rewards: 5.0 cost: 5.0 Other Features: 5.0
(1,319)	(798)	(73)
annual fee$0	annual fee$0	annual fee$0
Purchase Intro APR0% for 15 billing cycles	Purchase Intro APR0% for 15 months	Purchase Intro APR0% for 15 months
transfer intro apr0% for 15 billing cycles for any balance transfers made in the first 60 days\|Transfer Fee: 3% for 60 days from account opening, then 4%	transfer intro apr0% for 15 months\|Transfer Fee: Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days (5%, min $5 after)	transfer intro apr0% for 15 months\|Transfer Fee: 5% (min $5)
Regular APR18.24% - 28.24% Variable	Regular APR20.49% - 29.24% (V)	Regular APR19.24% - 29.24% (V)
rewards rate 1 - 3% Cash Back	rewards rate 1.5 - 5% Cash Back	rewards rate 1 - 5% Cash Back
bonus offer $200	bonus offerNone	bonus offer $200
Add to Compare	Add to Compare	Add to Compare
	Apply Now	Apply Now Rates & Fees

Bank of America Customized Cash Rewards FAQ

Can't find what you are looking for? Submit your question about Bank of America® Customized Cash Rewards credit card to our community. Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this card. In addition, WalletHub independently collected information for some of the cards on this page.

Upvotes

How much is the Bank of America Cash Rewards foreign transaction fee?

Maria Adams, Credit Cards Moderator

The Bank of America Customized Cash Rewards credit card foreign transaction fee is 3%. The card's foreign transaction fee can apply whether you travel to another country or you go shopping internationally through your computer.

Not every Bank of America credit card charges foreign transaction fees. The Bank of America® Travel Rewards credit card card has 0% foreign fees, for example, as does the Bank of America® Premium Rewards® credit card. So, they are better options to use for foreign purchases than Bank of America Customized Cash Rewards credit card.

Bank of America Customized Cash Rewards credit card Foreign Transaction Fee Info:

Foreign transaction fee: 3% of any purchase from a foreign-based merchant.
When you owe the foreign transaction fee: In-person and online purchases processed internationally.
Other Bank of America cards: Nearly 10 Bank of America credit cards have a 3% foreign transaction fee. All other BofA credit cards, including the Bank of America Travel Rewards credit card and the Bank of America Premium Rewards credit card, have 0% foreign transaction fees.

The Bank of America Customized Cash Rewards credit card foreign transaction fee isn't the only fee you have to worry about with the Bank of America Customized Cash Rewards credit card. If you take out a cash advance, you will owe up to 5% of the transaction amount. Late payments will cost you up to $40. Plus, if you transfer a balance to the card, you'll pay a fee equal to 3% for 60 days from account opening, then 4% of the amount. Fortunately, the Bank of America Customized Cash Rewards credit card has a $0 annual fee.

One of the best cash back credit cards with $0 foreign transaction fees is the Capital One Quicksilver Cash Rewards Credit Card, which gives a $200 bonus when you spend $500 in the first 3 months, plus 1.5% cash back on all purchases. You can also check our editors' latest picks for the best no foreign transaction fee credit cards on the market to weigh your options.

Upvotes

What are the Bank of America Cash Rewards categories?

Chip Lupo, Credit Card Writer

The Bank of America® Customized Cash Rewards credit card categories for bonus rewards are grocery stores and wholesale clubs, plus your choice of gas, online shopping, dining, travel, drug stores or home improvement/furnishings. Purchases that fall into the Bank of America Customized Cash Rewards credit card bonus categories get cardholders extra rewards compared to the card's base earning rate.

Whether a purchase falls into a card's bonus categories depends on “Merchant Category Codes,” which are assigned by the major credit card networks to merchants based on what kind of business...

View more answers

Upvotes

Is it hard to get the Bank of America Cash Rewards credit card?

Lisa Cahill, Credit Cards Moderator

Yes, it is hard to get the Bank of America® Customized Cash Rewards credit card because it requires excellent credit for approval. Unless your credit score is 750 or higher and you have a lot of income, it will be difficult for you to get approved for the Bank of America Customized Cash Rewards credit card.

In order to get the Bank of America Customized Cash Rewards credit card, you will have to meet the credit score requirement, have a steady income and be at least 18 years old. You'll also need to have an...

Upvotes

How can I redeem my Bank of America cash rewards?

Maria Adams, Credit Cards Moderator

The easiest way you can redeem your Bank of America cash rewards is either online or through the mobile app. Alternatively, you can do it over the phone, by calling customer service at (800) 434-8313.

How to Redeem Your Bank of America Cash Rewards Online

Log in to your Bank of America credit card account.
Select the “Rewards” tab.
Choose a redemption option.
Select the amount of cash back to redeem.
...

Upvotes

What is the Bank of America Cash Rewards online shopping benefit?

Chip Lupo, Credit Card Writer

The Bank of America Customized Cash Rewards credit card online shopping benefit is part of the 3% cash back categories. Online and mobile transactions with certain merchant category codes qualify for this bonus cash back. Eligible merchant categories include bookstores, clothing and apparel, department stores, and more.

Bank of America Customized Cash Rewards credit card Online Shopping Category Details

Bookstores
Clothing and Apparel
Department Stores
Discount Stores
Electronics
Specialty Retail Stores
Sporting Goods
Cable
Streaming
Internet and...

Upvotes

What credit score do you need for the Bank of America Cash Rewards credit card?

Paddy Sullivan, WalletHub Credit Card Advisor

You need a credit score of 750+ to get the Bank of America Customized Cash Rewards credit card. That means people with excellent credit have a shot at getting approved for this card.

You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Bank of America Customized Cash Rewards credit card, too.

Bank of America Customized Cash Rewards credit card Approval Requirements

Minimum credit score: 750+ (excellent credit).
Other factors: Annual income, employment...

Upvotes

Does the Bank of America Cash Rewards card have travel insurance?

Kendall Morris, Credit Cards Moderator

The issuer does not disclose any specific information regarding the Bank of America Customized Cash Rewards credit card travel insurance. The card may offer it as part of the Visa Signature benefits, but it is not guaranteed. So, make sure to check the guide to benefits that came with your Bank of America Customized Cash Rewards credit card to see which perks are included with your card.

In general, travel insurance includes travel accident insurance, lost/damaged luggage reimbursements, baggage delay insurance, and emergency assistance.

Alternative Credit Card...

Upvotes

What are the best Bank of America Cash Rewards credit card benefits?

Chip Lupo, Credit Card Writer

The best Bank of America Customized Cash Rewards credit card benefits are $0 liability on unauthorized charges and overdraft protection. The Bank of America® Customized Cash Rewards credit card also has contactless chip technology and overdraft protection, which are more common perks across Bank of America credit cards.

Bank of America Customized Cash Rewards credit card Benefits

Contactless Chip Technology
Overdraft Protection
Zero Liability Fraud Protection
Account Activity Alerts
Mobile Banking
Paperless Statement Option
Digital Wallet Technology

In addition to these benefits, the Bank of America Customized Cash Rewards credit card comes...

Upvotes

How much is the Bank of America Cash Rewards initial bonus?

Cameron DiGiovanni, Writer

The Bank of America Customized Cash Rewards credit card initial bonus is $200 for spending $1,000 in the first 90 days of opening an account.

Keep in mind, however, that you will not be eligible for this introductory bonus if you currently have the Bank of America Customized Cash Rewards credit card, regardless of whether you previously received the bonus. You also may not be eligible if you recently earned the bonus.

Other Bank of America Customized Cash Rewards credit card perks:

In addition to initial bonus, the Bank of America Customized Cash Rewards credit card offers 3% cash back in a category of your choice and 2% back at grocery stores and wholesale clubs (up to $2,500 spent quarterly), plus unlimited 1% cash back on all other purchases. Plus, it also comes with an annual fee of $0....

Upvotes

What's the Bank of America Cash Rewards credit card credit limit?

Joseph Bulebush, WalletHub Analyst

The Bank of America Customized Cash Rewards credit card credit limit will be based on your credit standing once your application has been approved. However, there's no surefire way of knowing your credit limit beforehand as Bank of America does not disclose this information on their website.

Bank of America Customized Cash Rewards credit card Credit Limit Details

There's no surefire way of knowing your Bank of America Customized Cash Rewards credit card credit limit before applying and getting approved.
If you're not happy with the Bank of America Customized Cash Rewards credit card credit limit you have received,...

View more answers

Bank of America Customized Cash Rewards credit card Reviews

Share your insights and review for the Bank of America® Customized Cash Rewards credit card

3.8

What's Your Rating?

mtsloss_wm57
July 22, 2023 • @mtsloss_wm57

I’ve looked at reviews and see from forums you apparently need to have an existing relationship with BoA in order to qualify for this card. I’m looking for a card that features rewards for online shopping such this one.

Comment

Sherry Hansen
March 22, 2024 • @jstblush

I have no relationship with Bank of America except for my Customized Cash Reward credit card. I've had it for a long time and love it. Besides the 3% category you choose, it also pays 2% at grocery stores (including Walmart) and wholesale stores. Almost no other card includes Walmart in bonus categories. It also has a lot of nice benefits through the Visa network. I have my 3% set to online shopping and get 3% to pay things like my cell phone and Cable bills. I love this card!

Comment

Isaiah
April 21, 2023 • @isaiah_springer

Verified Customer

Closed owned it for 6 years and when I went to pay off the full balance they closed my account loyalty in this world is dead but bank of America and wells Fargo are the worst

Comment

mtsloss_wm57
July 22, 2023 • @mtsloss_wm57

Nope they're not shy to shut you down.

Comment

Steve S Luxenberg
December 14, 2022 • @stevel_48

Verified Customer

great card, $200 back after $1000 spent in 3 months. Ive used this traveling over the past month, highly recommended. Apply now

Comment

PHILIP
October 9, 2022 • @philips_77

Verified Customer

Bank of America has been my favorite rewards card for my business and my personal use since I began using it. I only wish that it paid a higher cash bonus percentage.

Comment

Sumeeth
October 1, 2022 • @sumeeth_sahadeo

Verified Customer

Solid credit card for someone starting off for the first time in America. Could have higher limits automatically increase once you reach a certain duration of time with the account.

Comment

Chris M
June 29, 2022 • @Chris19601

I have a BofA credit card that gets monthly use, is always paid on time, and carries no balance. For the last month, BofA has been emailing me pre-screened offers, about 3 a week, asking me to apply for this new 'customized cash rewards' credit card. I finally applied (my credit score is excellent with no negative reporting, and I'm prescreened, so why not?) DENIED, is why not. Now I have a pointless hard pull on my credit report, harming my score. BofA: Don't barrage me with prescreened offers if you're regularly denying applicants who have excellent credit.

Comment

Arlindo K
June 3, 2022 • @arlindo

Useless card. The bank Closed my account as soon as I got the balance to 0. I never missed a payment. No late payments. They closed the account without any explanations

Comment

Allen
April 9, 2022 • @allenbee94

Verified Customer

It's decent. The major perk is the 3% cashback in online shopping, which is a quite rare but broadly useful perk you don't see in a lot of other cards. No minimum rewards redemption is also nice. I just don't like Bank of America as a company, and their customer service can be very hit or miss.

Comment

Pierce R
December 31, 2021 • @pierceruby643

This is one of the best cards I've used. I'll surely recommend. If there's anyone looking to work on their credit score, debt payment or wants an opportunity to benefit from a profitable side hustle program to get your finance on the right track, i'll advice you seek help from CreditMason. My entire debts was paid by this company and that had a huge impact on the increase of my credit score. If your credit needs some work and you aren't sure where to start, look up CreditMason on Google to get started. I can assure you a positive transformation.

Comment

Mark
December 24, 2021 • @pumpingironmke

Verified Customer

I think so far it is a pretty solid card, there is a reason your getting 3% Bank Of America, their going for it, if you stacking cards to raise that score, this will be a keeper card, not one you will be tossing once you can get better cards, THIS CARD IS ONE OF THE BETTER CARDS!!!! Once you start getting some money saved get a Merril Lynch account with 10k in it and this 3% card goes to 4% all the way to 6 or 7% that is AMEX level with some smart investments over time!

Comment

Review Bank of America® Customized Cash Rewards credit card

Important Disclosures

* WalletHub is committed to transparency and editorial independence. The information about the following cards has been independently collected by WalletHub: Chase Freedom Flex℠, Bank of America® Customized Cash Rewards credit card, Bank of America® Premium Rewards® credit card, and Bank of America® Travel Rewards credit card

WalletHub is an independent comparison service.

We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. When you click "Apply Now" you will be directed to the offering institution's website. In addition, keep in mind that actual rates and other information may vary for a number of reasons including the applicant's' creditworthiness and differences between an individual's situation and the criteria/assumptions used to generate the information displayed. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.

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Irrespective of whether an offering institution is a paid advertiser, the presence of offer information on WalletHub does not constitute a referral or endorsement of the institution by us or vice versa. Furthermore, offers have not been reviewed or approved by the offering institution. Information is displayed first and foremost to help consumers make better decisions.

Editorial Disclaimer: Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by the issuer. In addition, it is not the issuer’s responsibility to ensure all posts and/or questions are answered.

Offer last updated: Apr 8th, 2024 at 13:27 ET

Bank of America® Customized Cash Rewards credit card

Bank of America® Customized Cash Rewards credit card

Accepted Credit Scores

Bank of America Customized Cash Rewards credit card Annual Fee

Bank of America Customized Cash Rewards credit card APR on Purchases

Bank of America Customized Cash Rewards credit card Balance Transfer

Bank of America Customized Cash Rewards credit card Rewards

Bank of America Customized Cash Rewards credit card's Additional Info

Editor's ReviewFact checked

Bank of America Customized Cash Rewards credit card Pros & Cons

Bank of America Customized Cash Rewards credit card Review

Bank of America Customized Cash Rewards credit card Review Highlights

$200 initial bonus if you apply online

Ongoing rewards not quite as simple as 1-2-3

Above-average 0% intro rates

No annual fee, but not free

Excellent credit is a must

Above-average regular APR

Bank of America Customized Cash Rewards credit card Video Review

Compare The Bank of America Customized Cash Rewards credit card vs. Popular Alternatives

Bank of America Customized Cash Rewards FAQ

2024 WalletHub Awards

People Also Apply For

Related Credit Card Categories

Bank of America Customized Cash Rewards credit card Reviews

What's Your Rating?

Important Disclosures

2024 WalletHub Awards

People Also Apply For

Related Credit Card Categories

Editor's Review
Fact checked