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Bank of America Customized Cash Rewards Credit Card

flavia rozinholli
June 14, 2024

The Bank of America Customized Cash Rewards Credit Card is an excellent option for those who want to maximize their cashback earnings. This card offers flexibility by allowing you to choose reward categories according to your spending habits.

With a design aimed at meeting diverse needs, it is ideal both for those looking to save on daily expenses and for those who want to take advantage of specific benefits. Its adaptability makes it one of the most versatile cards available on the market.

Keep reading to find out how this no-annual-fee card can transform the way you spend and save, providing benefits that align perfectly with your lifestyle!

About the Issuer

Bank of America is one of the largest and most renowned financial institutions in the world. With a wide range of banking, investment, and asset management services, the company serves millions of customers across various segments.

With approximately 68 million customers, Bank of America offers unparalleled convenience, with over 3,900 branches and 15,000 ATMs in the United States. Additionally, the institution is a leader in digital banking services, with around 57 million verified users.

Whether you are an individual consumer or a small business, Bank of America has innovative and easy-to-use financial solutions designed to meet your daily financial needs.

Benefits

Customized Cashback: The card allows you to choose one category to earn 3% cashback, including gas, online shopping, dining, travel, drug stores, and home improvement. This flexibility lets you maximize your earnings based on your monthly expenses.

Additional Cashback on Groceries: In addition to customized cashback, the card offers 2% cashback at wholesale clubs and grocery stores, in combined purchases per quarter in chosen categories and grocery stores.

Unlimited Cashback on All Purchases: For all other purchases, you earn 1% unlimited cashback, ensuring rewards on any transaction you make, with no limits.

Increased Cashback with Preferred Rewards: Members of Preferred Rewards can earn 25% to 75% more cashback on every purchase, potentially increasing your earnings to up to 5.25% in the chosen category.

No Annual Fee: The card does not charge an annual fee, allowing you to enjoy all the benefits and rewards at no additional cost, which is ideal for those looking to maximize their savings.

Digital Management Tools: With the Bank of America app, you can change your cashback category monthly, track your spending, and manage your rewards easily and efficiently.

Bank of America Customized Cash Rewards – Fees and commissions

The Bank of America Customized Cash Rewards offers an introductory 0% APR for balance transfers and purchases for the first 15 billing cycles, which is very positive.

After this period, the rate varies between 19.24% and 29.24%, depending on your credit. There is an initial balance transfer fee of 3% for transfers made within the first 60 days, which increases to 4% after this period.

There is no annual fee, but there is a 3% foreign transaction fee, which may be a drawback for frequent travelers. Overall, the card’s fees are fair and supported by a comprehensive financial experience.

Card limit

The credit limit of this card is variable and depends on the applicant’s credit analysis. Cardholders with a good credit history are more likely to receive higher limits due to greater payment security.

The bank evaluates several factors, including income and payment history, to determine the credit limit. It is important to remember that good credit usage can lead to limit increases over time.

The bank also considers the debt-to-income ratio to ensure that the applicant can manage the credit responsibly. Additionally, the payment history with other credit cards and loans is analyzed to determine credit risk.

Positive points

CUSTOMIZABLE CASHBACK
The ability to choose where you earn more cashback.
NO ANNUAL FEE
More savings for the cardholder.
WELCOME OFFER
$200 bonus for new cardholders after meeting the spending requirement.

Negative points

FOREIGN TRANSACTION FEE
3% on international purchases.
CASHBACK LIMITS
The cashback is limited.
VARIABLE APR RATE
Can be high, especially after the introductory period.

How to apply for Bank of America Customized Cash Rewards

To apply for the Bank of America Customized Cash Rewards credit card, follow these steps:

Access the Bank of America website;
Go to the Bank of America Customized Cash Rewards credit card page;
Click on “Apply now”;
Fill out the online application form;
Provide the necessary personal information;
Review and submit your application;
Wait for the bank’s response, which is usually quick.

You will be redirected to the card website

How to contact Bank of America

To contact Bank of America about your Customized Cash Rewards, you can:

Call customer service at 800 932 2775;
Use the online chat available on the official website;
Visit a physical branch for in-person service.

This card is ideal for those who want flexibility and cash rewards without the worry of annual fees. If this is your case, don’t waste any more time and apply for your card to start accumulating cashback!