Bank of America® Customized Cash Rewards Credit Card Deep Dive
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EDITORIAL DISCLOSURE:
Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
The Bank of America® Customized Cash Rewards Credit Card is a great pick if you want a simple, no annual fee credit card where YOU choose where you earn the most! 🙌🏼 Pick your bonus category, watch the cash back add up, and switch it up whenever your spending changes.
So let's break down everything you need to know about this card so you can decide if it deserves a spot in your wallet (spoiler alert ‼️ it depends on how you spend!). 👇🏼
Welcome offer
Cash back = money in your pocket. ⭐️ When you open the card, you can earn a $200 online cash rewards bonus after spending $1,000 on purchases in the first 90 days.
That's an easy target for the first bonus, and with a $0 annual fee there no out of pocket spending to offset. 🙌🏼
Perks you’ll want in your wallet
You'll get:💸 $0 annual fee
🔄 Choose (and change) your bonus category every month
♾️ Cash back that doesn't expire while your account is open
🏦 0% intro APR for 15 billing cycles on purchases, plus balance transfers made in the first 60 days (then a 17.49%-27.49% variable APR)
So how do these earning categories work?
🎯 3% cash back in the category of your choice (6% for the first year!)
🛒 2% at grocery stores and wholesale clubs
💳 1% on everything else
Here are the categories you can choose from:
⛽ Gas and EV charging
💻 Online shopping (including cable, internet, phone plans and streaming)
🍽️ Dining
✈️ Travel
💊 Drug stores and pharmacies
🛠️ Home improvement and furnishings
Heads up! The 6% and 2% rates apply to the first $2,500 in combined purchases each quarter. After that, you're at 1%.
If you max it out, that's about $150 back per quarter in year one. 🤑 After the first year, the choice category drops to 3%, so about $75 per quarter.
That 1% base rate is why I wouldn't call this a "catch-all card." Use it for your bonus categories, then swipe something else for your other everyday purchases.
How to use your cash back
This one is pretty straightforward! You can redeem your cash back for:
-A statement credit
-A deposit into an eligible Bank of America or Merrill account
-Purchases at Amazon.com or through PayPal
-A 529 contribution or a check (these start at $25)
Who is this card right for?
💳Maybe you’ve been looking to start earning travel rewards through credit cards, but you need to work on increasing your credit score first. This card can be a perfect option for credit building (or even a great starter card for a college student).
🏰 Let’s say you’re planning your dream trip to Disney, and you need a cash back card that can help you earn rewards to offset all those “other” expenses (like tickets, theme park food, anything!). This card is an easy choice for covering those expenses other than flights or hotels.
💲What if you’ve opened a few cards lately with higher annual fees and you’re looking for a way to earn more rewards without paying any more out of pocket? This card delivers solid earning opportunities without paying any annual fee!
Not sure if this card is right for you? Let me help you decide on your next card! Find me on Instagram and let’s CHAT. 📣
🌟 Ready to learn more? You need the Beginner’s Guide to Credit Card Points & Miles!
EDITORIAL DISCLOSURE: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
