The Bank of America Customized Cash Rewards credit card gives you flexible rewards and a no-annual-fee advantage. It’s built for users who want control over their cashback categories.
With introductory bonuses and secure account features, it remains highly competitive. This article clearly covers its benefits, rates, and application steps.
Overview of the Bank of America Customized Cash Rewards Credit Card
You’ll learn why this card stands out with competitive cashback options and low entry costs. It provides a simple structure that lets you earn while spending on travel, online shopping, and more.
It’s ideal for those who value customization, steady rewards, and transparent terms. The card runs on the Visa Signature network for worldwide acceptance.
Managing your account is easy through online and mobile banking tools. Rewards never expire, making it great for everyday spending and long-term financial use.
Key Features and Benefits
Knowing the key benefits helps you maximize the card’s potential. The structure of this card focuses on rewarding everyday spending while remaining simple to use. It has competitive cash-back rates and flexibility unmatched by most no-fee cards.
High Cash Back in Your Chosen Category
You can earn 6% cash back for the first year in your selected category, combining 3% base and a 3% first-year bonus. Options include gas, online shopping, dining, travel, drug stores, or home improvement.
This flexibility ensures your rewards fit your lifestyle. After the first year, you continue to earn 3% in your chosen category.
Additional Cash Back Tiers
You automatically earn 2% cash back at grocery stores and wholesale clubs. All other purchases earn unlimited 1% cash back.
This consistent structure keeps earning simple and predictable. There’s no need to track rotating categories or enrollment dates.
$200 Online Cash Rewards Bonus Offer
You can get a $200 cash bonus after spending at least $1,000 within 90 days. It’s an excellent incentive for new cardholders who plan regular purchases.
The reward automatically posts to your account once requirements are met. It’s one of the most straightforward sign-up bonuses available.
Flexible Categories and Cash Rewards
The customizable category system gives you real freedom in how you earn. You can pick one of six spending areas where you get the highest cash back.
This approach ensures that your card aligns with your personal spending patterns. Eligible categories include:
- Gas and EV charging stations
- Online shopping, including streaming and phone plans
- Dining and restaurants
- Travel purchases
- Drug stores and pharmacies
- Home improvement and furnishings
You can change your chosen category each calendar month through online banking or the mobile app.
Cash back applies to the first $2,500 in combined purchases per quarter for 6% and 2% rates. Once you hit that cap, you’ll earn 1% on additional spending.
Bank of America Preferred Rewards Program
This program increases your cashback potential even further. Members with qualifying balances in Bank of America or Merrill accounts can earn up to 75% more cash back.
That means your 3% category could become 5.25%, depending on your tier. The Preferred Rewards tiers are Gold, Platinum, and Platinum Honors.
The higher your relationship balance, the higher your multiplier. This integration encourages loyalty and deeper banking relationships. It’s ideal for users who want more value without higher annual costs.
Interest Rates and Fees
Understanding your interest rates and fees ensures smarter financial planning. The card has an attractive introductory period and a variable rate structure after it ends.
- Introductory APR: 0% for the first 15 billing cycles on purchases and balance transfers made within 60 days.
- Standard APR: 17.74% to 27.74% variable, depending on your credit score.
- Balance Transfer Fee: 3% for the first 60 days, then 4% afterward.
- Annual Fee: $0, ensuring you maximize every dollar earned.
These terms make the card appealing for both new users and balance transfers. However, maintaining good credit habits remains essential after the intro period ends.
Security and Account Features
Security and convenience are core to this card’s design. You can manage transactions safely while accessing features that protect and simplify your account use.
- Fraud Protection: The $0 Liability Guarantee covers you against unauthorized purchases.
- Paperless Statements: Access your account digitally and reduce paper use.
- Digital Wallet Technology: Compatible with Apple Pay, Google Pay, and Samsung Pay.
- Mobile & Online Banking: Manage transactions, payments, and rewards anywhere.
- Account Alerts: Get text or email reminders for payment due dates and spending updates.
These tools ensure your card activity stays secure and transparent. You’re always aware of your balance, due dates, and reward performance.
The Application Process
Applying for the Bank of America Customized Cash Rewards Credit Card is straightforward. You can apply online or by phone and receive an instant decision in many cases.
How to Apply?
Below is a clear breakdown of how you can complete your application effectively. These methods ensure accessibility, whether you prefer online or direct communication.
- Online Application: Visit the official Bank of America website, click “Apply Now,” and complete your form. Enter your financial and personal information accurately, review your terms, and submit your request.
- By Phone: Call 800.932.2775 and mention priority code HC0226 if available. A representative will guide you through the process and verify your details.
- Eligibility Requirements: You must be 18 or older, have a valid U.S. address, and provide your Social Security number. Good to excellent credit (typically 670+) increases approval chances.
- Processing Time: Most applicants receive instant approval, while others may take a few days for verification.
Completing your application accurately ensures a faster decision and avoids rejection. Always double-check your information before submission.
How to Redeem Your Cash Rewards?
Redeeming rewards is simple and flexible. You can choose how you receive your cash back depending on your financial needs.
You can redeem as a statement credit, direct deposit to a Bank of America account, or transfer to a Merrill investment account.
There’s no expiration as long as your account stays open. Minimum redemption starts at $25, making it easy to use your rewards frequently. Automation options are also available for convenience.
Advantages and Limitations
It’s essential to know both the benefits and limitations before applying. This helps set realistic expectations about how the card works for your lifestyle.
Advantages include:
- High 6% introductory cash back in your selected category.
- $200 welcome bonus after $1,000 in spending.
- No annual fee and flexible redemption options.
- Extra rewards for Preferred Rewards members.
Limitations include:
- Quarterly $2,500 cap on bonus categories.
- Balance transfer fee after 60 days.
- Standard APR can be high if carrying a balance.
These points highlight how to maximize rewards while minimizing costs. Responsible use ensures you benefit from every feature the card offers.
Customer Service and Contact Details
You can contact Bank of America easily for any credit card inquiries or support. Reach them by phone at 1-800-932-2775 or visit their website.
You can also send mail to P.O. Box 982238, El Paso, TX 79998-2238 with priority code HC0226. These options ensure you get quick and reliable assistance when needed.
Final Thoughts: Why This Card Deserves Attention?
The Bank of America Customized Cash Rewards Credit Card provides strong value with its no-fee structure, customizable rewards, and useful welcome bonus. Its flexible categories make it suitable for different spending habits.
You also gain access to powerful online tools and a secure mobile banking experience. If you want control over your cash-back strategy, this card is an excellent choice.
Disclaimer: Terms, conditions, and rates can change without notice. Always confirm the latest details with Bank of America before applying or using the card.
