Bank of America
Bank of America® Customized Cash Rewards Credit Card
Key Features
| Annual Fee | $0.00 |
| Sign-up Bonus | $200 online cash rewards bonus |
| Rewards Rate | 1%-6% Cash Back |
| Intro APR | 0% Intro APR for your first 15 billing cycles for purchases, and for any balance transfers made within the first 60 days of opening your account. After the intro APR offer ends, a Variable APR that's currently 17.49% to 27.49% will apply. 3% Intro balance transfer fee for the first 60 days your account is open. After the intro balance transfer fee offer ends, the fee for all future balance transfers is 5%. |
| Regular APR | Standard APR 17.49% - 27.49% variable |
| Other Fees | 3% of each transaction intro balance transfer fee for the first 60 days your account is open. After the intro balance transfer fee offer ends, the fee for all future balance transfers is 5%. |
About this card
The Bank of America® Customized Cash Rewards Credit Card is a solid, good card. Its strengths lie in its customizable rewards categories, no annual fee, and sign-up bonus. The ability to choose a 3% cash back category is valuable, and the 2% back at grocery stores and wholesale clubs is a nice addition. However, its high regular APR and the $2,500 quarterly spending cap limit its appeal. The card's value is significantly enhanced for Bank of America Preferred Rewards members, but without that, it's a decent but not outstanding cash back option. Therefore, I am giving this card a rating of 3.3 out of 5. Strengths: Customizable rewards, no annual fee, decent sign-up bonus. Weaknesses: High APR, spending cap on bonus categories, average rewards for non-Preferred Rewards members.
Pros & Cons
What's great
- No annual fee
- Intro APR period
- Generous sign-up bonus
- Cashback on purchases
- Rotating bonus categories
Things to consider
- High regular APR
- High balance transfer fee
- Limited rewards categories
What this card offers
Sign-up bonuses
- 6% cash back in the category of your choice – for the first year. Plus, a $200 online cash rewards bonus offer.
- Online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening
Rewards
- 6% cash back in the category of your choice – for the first year.
- Earn 3% cash back + 3% first-year cash back bonus in the category of your choice
- Automatic 2% cash back at grocery stores and wholesale clubs
- Unlimited 1% cash back on all other purchases
- Earn 6% and 2% cash back on the first $2,500 in combined purchases each quarter in the choice category, and at grocery stores and wholesale clubs, then earn unlimited 1% thereafter. After the 3% first-year bonus offer ends, you will earn 3% and 2% cash back on these purchases up to the quarterly maximum.
Other features
- Stay Protected We block potential fraud if abnormal patterns are detected and let you know if we suspect fraudulent activity. Plus, you always get a $0 Liability Guarantee for fraudulent transactions.
- Balance Connect® for overdraft protection An optional service to help prevent declined purchases, returned checks or other overdrafts when you link your eligible Bank of America® checking account to your credit card. No transfer fees. Other fees may apply.
- Paperless Statement Option Opt for paperless credit card statements and increase account security while reducing paper consumption.
- Digital Wallet Technology Discover more ways to pay by adding your Bank of America® credit card to your mobile device then shop in-store or in-app using Apple Pay®, Google Pay™ or Samsung Pay.
- Online & Mobile Banking Access to our award-winning Online and Mobile Banking. Bank on the go from almost anywhere quickly and securely. Pay your credit card bill online, transfer funds, check available credit and more.
- Account Alerts Stay on top of your balances and due dates. Choose from several types of customer email or text alerts and let your phone tell you when payments are due and paid.
- There's no annual fee and your cash rewards don't expire as long as your account remains open.
- Enjoy the flexibility to choose how you redeem your cash rewards – options include: Redeem your cash rewards for any amount, anytime for statement credits, deposits made directly into a Bank of America® checking or savings account, or for credit to an eligible account with Merrill, or to pay for eligible purchases when you shop at Amazon.com or check out with PayPal. Redemptions for a contribution to a qualifying 529 account with Merrill or for a check start at $25. You may set up automatic redemptions into an eligible Bank of America® or Merrill® account. Automatic redemptions start at $25. Statement credits, checks and contributions into a qualifying 529 account are not eligible for automatic redemption enrollment.
Additional Notes
This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now. Note: minimum payments are applied to lower-interest balances first. Additional payments are applied to higher-interest balances first.