Bank of America Customized Cash Rewards Credit Card Review

Bank of America Customized Cash Rewards Credit Card lets you choose your monthly bonus category, earning 3% cash back on up to $2,500 in combined purchases. Plus, you’ll enjoy 2% cash back on groceries and wholesale clubs up to $2,500 quarterly, and 1% earn money back on all other purchases. $200 online cash rewards bonus.

No annual fee adds to the appeal, making this card a compelling option for savvy spenders seeking customizable rewards. This credit card offers a variety of customizable rewards that cater to your spending habits. You can enjoy cashback on everyday purchases and have the flexibility to choose which category you want to make more rewards in. There are no annual fees and an easy-to-use online banking platform.

Quick Highlights

• Earn a generous $200 online cash rewards bonus when you spend at least $1,000 within the first 90 days of opening your account.
• Enjoy flexible cash back options with 3% in your chosen category, 2% at grocery stores and wholesale clubs, up to $2500 in the mixed-choice category, and 1% on all other purchases.
• Select from various 3% cash back categories, including gas and EV charging stations, online shopping, dining, travel, and more.
• Bank of America Preferred Rewards® members can earn even higher cash-back percentages on all purchases.
• Earn up to 5.25% cash back on purchases made in your selected category if you are a Bank of America Preferred Rewards® member.
• There is no annual fee and no expiration of cash rewards as long as your account remains open.
• Enjoy 0% introductory APR for the first 15 billing cycles on purchases and balance transfers within the first 60 days.
• Opportunity for contactless payments through chip cards, providing both security and convenience.
• Bank of America® Customized Cash Rewards Credit Card is an excellent option for those seeking to earn cash back on their purchases.
• As a Preferred Rewards member, you can earn even more cash back on every purchase, with the opportunity to receive up to 5.25% cash back on purchases in your choice category.
• The card also offers a 0% introductory APR for the first 15 billing cycles, making it a convenient and cost-effective option for balance transfers or large purchases.

Bank of America Customized Cash Rewards Credit Card Rewards

• The Bank of America Customized Cash Rewards Credit Card is perfect for those who want to earn cashback on their everyday purchases. With this card, you can choose which category to make 3% cash back. Whether it’s gas and EV charging stations, online shopping, dining, travel, drug stores and pharmacies, or home improvement and furnishings, you can select the category that aligns with your spending habits.
• The card also offers automatic 2% cash back at grocery stores and wholesale clubs. And for all other purchases, you’ll still earn unlimited 1% cash back. This means you’ll consistently earn rewards no matter where you use your card.

Additional Rewards

• Plus, with no annual fee and no expiration on your cash rewards, you can use your card with peace of mind, knowing that your rewards will always be there when you need them.
• Bank of America Customized Cash Rewards Credit Card allows a unique rewards program for its Preferred Rewards members. With this credit card, members can earn 25%–75% more cash back on every purchase.
• The 3% choice category available with this card could earn you 3.75%-5.25% cash back, and the 2% category for grocery store and wholesale club purchases could earn you 2.50%-3.50%. This applies to the first $2,500 spent in combined choice.
• Category store/wholesale club purchases each quarter. The 1% cash back on all other purchases could earn you 1.25%-1.75%.
• One of the unique features of this card is the ability to change your 3% choice category each month. As your spending habits change or if you have a big purchase coming up in a specific category, you can easily switch your 3% cash back category to align with your needs. There is no annual fee. And if you decide not to make any changes, the category will stay the same.
• The Bank of America® Customized Cash Rewards Credit Card is the perfect credit card for those looking to earn rewards on their everyday purchases. With this card, you can earn 3% and 2% cash back on the first $2,500 in combined purchases each quarter in your choice category, as well as at grocery stores and wholesale.

Redeem Rewards

• As a cardholder of the Bank of America® Customized Cash Rewards Credit Card, you can enjoy redeeming your cash rewards for various options. Whether you want to use your rewards towards statement credits, direct deposits into a Bank of America checking or savings account, or credit towards an eligible account with Merrill, the choice is yours.
• The redemption process is simple and allows you to redeem any amount anytime. This will enable you to use your rewards whenever it suits you best. Plus, with the ability to set up automatic redemptions starting at just $25, you can quickly maximize your rewards without constantly remembering to redeem them.
• For those interested in investing in their future or their loved one’s education, the Bank of America Customized Cash Rewards Credit Card also allows the option to redeem your rewards for contributions to qualifying 529 accounts with Merrill. This will enable you to earn cash back on your everyday purchases and contribute towards a valuable education fund.
• Redemptions to contribute to a qualifying 529 account with Merrill or a check start at $25. However, you can always redeem more if you have accumulated enough rewards.

Benefits

Unparalleled Category Choice and Customization

• This card allows you to choose your 3% cash back category, unlike most other rewards cards.
• You can change your chosen category once a month, maximizing your rewards on your ever-changing spending habits.
• The card offers generous definitions for its categories, giving you more options to earn bonus rewards.

• • Example: The online shopping category includes major retailers like Amazon, Best Buy, and Target, while the dining category covers everything from restaurants to fast food and coffee shops.
  • Bonus: This card is considered one of the top credit cards for online shoppers and new homeowners due to its comprehensive category definitions.

Loyalty Rewards for Bank of America Customers

• For Bank of America Preferred Rewards® program members, the card’s rewards become significantly more valuable.
• Depending on your combined account balances at Bank of America and Merrill, you can qualify for 25% to 75% extra cashback on your rewards.
• Example: With a 75% boost, your 3% category becomes a 5.25% cashback, exceeding most competing no-annual-fee cards.
• Remember, the bonus rewards apply only to the first $2,500 combined purchases within the 3% and 2% categories each quarter. After that, rewards drop to 1% for those categories.
• Joining the Preferred Rewards program requires meeting minimum account balance thresholds at Bank of America and Merrill.

Rates and Fee

• Introductory APR: 0% APR for the first 15 billing cycles on purchases and balance transfers made within the first 60 days of account opening.
• Standard APR: A variable APR that is currently 18.24%–28.24%.
• Penalty APR: Up to 29.99%
• Annual Fee:$0
• Balance Transfer Fee: 3% of each transferred amount
• Foreign Transaction Fee: N/A
• Foreign transaction fee: 3%
• Late payment fee: Up to $40

Eligibility Criteria

Fico Score

credit score requirements for the Customized Cash Rewards card, they typically look for applicants with good to excellent credit. This generally translates to a FICO score of 670 to 850, good to excellent.

Requirements

• Must be 18 years old
• You must be a legal resident of the United States with a valid Social Security number or taxpayer identification number (TIN).
• Sufficient income to comfortably meet your financial obligations, including potential credit card debt.
• A positive credit history with a record of on-time payments and responsible credit card use.

How to Apply

1. Go to the Bank of America website and navigate to the credit card section.
2. Search for the “Bank of America® Customized Cash Rewards Credit Card” or browse the cash back credit card options.
3. Carefully read the card details, including benefits, rewards structure, and eligibility criteria.
4. Click the “Apply Now” button once you’re ready. This will likely redirect you to a secure application page.
5. Provide the required information, including your details, employment information, and income. You may also need to answer questions about your financial history and creditworthiness.
6. Once you’ve reviewed and confirmed all the information, submit your application for processing.
7. Bank of America will review your application and notify you of their decision within a few business days.

Conclusion

The Bank of America® Customized Cash Rewards Credit Card is a valuable option for those looking to enjoy cash back on their everyday purchases. With the reward, generous sign-up bonus, and no annual fee, this card offers flexibility and convenience for users. This credit card is a versatile option for individuals seeking an everyday cash-back credit card.

It is essential to note that there is a spending limit on bonus category rewards, and only two categories can be selected monthly. This credit card provides flexibility and potential for cash back earnings based on personal spending habits.

It is a solid choice for those looking to earn rewards on their everyday purchases. 0% introductory APR, rewards, and cost-saving benefits.  The ability to redeem cash back in any amount at any time and the option to boost jeer cash back earnings by 25-75%.

Customer Service

• Customer Care: 1 (877) 754-6706.
• Official Website: Bank of America