Benefits at a Glance
The Bank of America Customized Cash Rewards Credit Card is a versatile financial tool that lets you choose how you earn your money back. If you are looking for a financial tool like this, we got you! This card empowers you to maximize rewards based on your unique monthly spending habits.
What is the Bank of America Customized Cash Rewards Credit Card?
The Bank of America Customized Cash Rewards Credit Card is a flexible rewards card designed for everyday life. It matters because it shifts the power of choice directly into your hands. This card is perfect for people who want their spending to work harder for them. You get to decide which category earns the highest amount of cash back each month.
How does this card work in your daily routine? It uses a tiered system to reward different types of purchases. You earn a massive 3% cash back in a category of your choice from a specific list. You also earn a solid 2% cash back at grocery stores and wholesale clubs. All other purchases earn an unlimited 1% cash back automatically. This system ensures you get value every time you swipe your card at a register.
The 3% and 2% rewards apply to the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter. After you hit that limit, those purchases continue to earn 1% cash back. You can change your 3% category once every calendar month through the mobile app or online banking. This feature is wonderful if your spending needs change throughout the year. If you do not make a choice, the card defaults to gas and EV charging stations.
Main Benefits of the Bank of America Customized Cash Rewards Credit Card
The biggest benefit of this product is the ability to customize your rewards. You can select 3% categories like online shopping, dining, travel, drugstores, or home improvement and furnishings. This flexibility means you can earn more when you plan a big project or a nice vacation. It feels great to know your card adapts to your lifestyle changes instantly.
Another exciting perk is the welcome bonus for new cardmembers. You can earn a $200 online cash rewards bonus after you make at least $1,000 in purchases. You just need to reach this spending goal within the first 90 days of opening your account. This is a fantastic way to start your journey with a nice boost to your balance. The card also features a $0 annual fee, so you keep all the rewards you earn.
If you are a Bank of America Preferred Rewards member, your benefits get even better. Members can increase their cash back rewards by 25% to 75% on every purchase. This means your 3% category could actually earn you up to 5.25% cash back. Your 2% grocery rewards could climb all the way to 3.5%. This loyalty program adds significant value for existing customers who keep their savings with the bank.
Your cash rewards do not expire, providing you with total peace of mind. You can redeem your cash back in any amount at any time you wish. Redemption options include a statement credit to your card or a deposit into a checking account. You can also contribute your earnings to a qualifying Merrill investment account. This card really supports your long-term financial health while making daily spending fun and rewarding.
Rates and Fees You Should Know
Understanding the costs of your card helps you use it more effectively. The Bank of America Customized Cash Rewards Credit Card offers a 0% introductory APR for 15 billing cycles. This special rate applies to both new purchases and any balance transfers you make. You must complete your balance transfers within the first 60 days of account opening to qualify. A balance transfer fee of 3% for 60 days (minimum $10) applies to these transactions.
After the introductory period ends, a variable APR will apply to your remaining balance. This rate typically ranges from 19.24% to 29.24% based on your credit history. The card does not have an annual fee, which is a huge plus for your wallet. However, there are fees for certain actions like late payments or returned payments. A late payment fee can be up to $40, so always aim to pay on time.
If you plan to use your card abroad, please note the foreign transaction fee. You will pay 3% of the U.S. dollar amount for each transaction made outside the country. Cash advances also come with a fee of 3% or 5% depending on the type of advance. Staying informed about these rates ensures you maximize the value of your cash back. This card is a reliable partner when you manage your payments wisely and avoid unnecessary fees.
Ready to apply for yours?
The Bank of America Customized Cash Rewards Credit Card is a top-tier choice for smart shoppers everywhere. It gives you the freedom to choose your rewards while offering a generous welcome bonus. With no annual fee and a 0% intro APR, the benefits truly speak for themselves. You can transform your daily expenses into a steady stream of extra cash for your future goals. If you want a card that works as hard as you do, this is the one. Want to know how to apply? Click the button below and find out!
