The Bank of America Customized Cash Rewards Credit Card is designed to offer a personalized and rewarding experience for cardholders. With a host of benefits tailored to fit your lifestyle, this card ensures you get the most out of every purchase. 

Whether you’re shopping online, fueling up at the gas station, or dining out with friends, this card has something special for you. Read on to find out how this card can elevate your financial game with its dynamic rewards system, zero annual fee, and robust security features.

Main features of the Bank of America Customized Cash Rewards card

The Bank of America Customized Cash Rewards Credit Card is a versatile financial tool issued by one of the largest and most trusted banking institutions in the United States, Bank of America. This card is ideal for individuals who seek flexibility and value in their everyday spending. 

With the flexibility to choose your 3% cash back category from options like gas and EV charging stations, online shopping, dining, travel, drug stores, and home improvement, this card stands out in its ability to adapt to your spending habits. Furthermore, it offers an automatic 2% cash back at grocery stores and wholesale clubs, and an unlimited 1% cash back on all other purchases. 

Understanding the annual fee 

One of the standout features of the Bank of America Customized Cash Rewards Credit Card is its zero annual fee. This means you can enjoy all the rewards and benefits without worrying about an annual charge eating into your cash back earnings. 

Deciphering credit limits

Bank of America determines the credit limit for the Customized Cash Rewards Credit Card based on several factors, primarily focusing on the applicant’s creditworthiness. When you apply for the card, the bank evaluates your credit score, income, and existing debt obligations to assess your ability to manage credit responsibly.

Advantages of the Bank of America Customized Cash Rewards card

• Personalized Cash Back: Earn 3% cash back in a category of your choice, such as gas, online shopping, dining, travel, drug stores, or home improvement.
• Grocery and Wholesale Club Rewards: Get 2% cash back at grocery stores and wholesale clubs, making everyday purchases more rewarding.
• Unlimited 1% Cash Back: Enjoy 1% cash back on all other purchases without any limits.
• $200 Online Cash Rewards Bonus: Receive a $200 bonus after spending $1,000 in the first 90 days of account opening.
• Introductory 0% APR: Benefit from a 0% introductory APR for 15 billing cycles on purchases and balance transfers made within the first 60 days.
• No Annual Fee: Enjoy all the perks without an annual fee, maximizing your savings.

Standout advantage

The standout advantage of the Bank of America Customized Cash Rewards Credit Card is undoubtedly its customizable 3% cash back category. Unlike many other cash back cards that have fixed reward categories, this card allows you to choose where you want to earn the most cash back. This flexibility is particularly beneficial for those whose spending habits change throughout the year.

Addressing potential drawbacks

• Quarterly Spending Cap: The 3% and 2% cash back rewards are limited to the first $2,500 in combined purchases each quarter. After reaching this cap, you earn a flat 1% on all purchases.
• High Standard APR: After the introductory period, the standard APR ranges from 19.24% to 29.24%, which can be high if you carry a balance.
• Foreign Transaction Fee: This card charges a foreign transaction fee, making it less ideal for international travel.

Standout disadvantage

The primary drawback of the Bank of America Customized Cash Rewards Credit Card is the quarterly spending cap on the 3% and 2% cash back categories. While earning 3% cash back on your chosen category and 2% at grocery stores and wholesale clubs is appealing, this benefit is limited to the first $2,500 in combined purchases each quarter. Once you hit this threshold, any additional spending in these categories only earns 1% cash back.

Eligibility criteria 

To apply for the Bank of America Customized Cash Rewards Credit Card, you need to meet specific eligibility criteria. Applicants must be at least 18 years old and have a valid Social Security number or Individual Taxpayer Identification Number. Additionally, a good to excellent credit score is typically required to qualify for this card, reflecting a history of responsible credit management.

Proof of income is also necessary to demonstrate your ability to repay the credit extended. Bank of America may request additional documentation, such as recent pay stubs or tax returns, to verify your income and financial stability. Being a U.S. citizen or permanent resident is another prerequisite, as the card is primarily targeted at individuals residing in the United States.

How to apply for the Bank of America Customized Cash Rewards card

Applying for the Bank of America Customized Cash Rewards Credit Card is a straightforward process, designed to get you up and running quickly. You can begin your application online, through the mobile app, or by visiting a Bank of America branch. Each method offers a seamless experience tailored to your preferences.

Via website

Applying for the Bank of America Customized Cash Rewards Credit Card online is convenient and efficient. Simply visit the Bank of America website and navigate to the credit card section. From there, you can select the Customized Cash Rewards Credit Card and click on the “Apply Now” button. 

The online application will guide you through a series of questions to gather necessary information, such as your personal details, income, and employment status. Once submitted, your application is typically reviewed within a few minutes, and you’ll receive an instant decision on your approval status. If approved, your new card will be mailed to you, and you can start earning rewards right away.

Through the mobile application

For those who prefer to manage everything from their mobile devices, the Bank of America mobile app offers a streamlined application process. Download the app from your device’s app store and log in to your Bank of America account. Navigate to the credit card section and select the Customized Cash Rewards Credit Card.

The app provides a user-friendly interface that allows you to complete the application quickly. You can also use the app to track the status of your application and receive notifications about your card. Once approved, you can add your new card to your digital wallet directly from the app, enabling you to start using it for purchases immediately.

Through the store/branch

If you prefer a more personal touch, you can apply for the Bank of America Customized Cash Rewards Credit Card at any Bank of America branch. Visit your nearest branch and speak with a banking representative who can guide you through the application process. The representative will assist you in filling out the application and answer any questions you may have.