Apply for the Customized Cash Rewards Credit Card

The Bank of America Customized Cash Rewards Credit Card is an excellent choice for those looking for flexibility in earning cash back on everyday purchases.

This card stands out due to its customizable rewards structure, which allows cardholders to choose the category where they earn the most cash back.

It’s a versatile and rewarding option for those who want to maximize their rewards in specific areas of their spending.

In this guide, we’ll cover the key features, benefits, and potential drawbacks of this card, as well as the requirements and fees associated with it.

Card Overview

The Bank of America Customized Cash Rewards Credit Card offers 3% cash back on a category of your choice, 2% cash back on grocery store and wholesale club purchases (on up to $2,500 in combined purchases per quarter in the 3% and 2% categories), and 1% cash back on all other purchases.

The best part? You can choose your 3% category based on your spending habits, which could include options such as dining, travel, gas, or online shopping.

In addition to the customizable rewards program, the card also offers a $200 online cash rewards bonus for new cardholders who make at least $1,000 in purchases within the first 90 days of account opening.

The card also comes with no annual fee, which makes it an attractive choice for those who want to earn cash back without paying a yearly fee.

Reasons to Choose the Bank of America Customized Cash Rewards Credit Card

1. Customizable Cash Back: One of the standout features of the Bank of America Customized Cash Rewards Credit Card is the ability to earn 3% cash back in a category of your choice. This flexibility allows you to maximize rewards in the areas where you spend the most, whether it’s gas, online shopping, dining, or travel.
2. Bonus Categories: In addition to the 3% cash back on your selected category, you also earn 2% cash back on grocery store purchases and wholesale club purchases. This makes it easy to earn higher rewards on common spending categories.
3. $200 Sign-Up Bonus: New cardholders can earn a $200 online cash rewards bonus after making $1,000 in purchases within the first 90 days of account opening. This bonus can significantly boost your rewards balance right from the start.
4. No Annual Fee: One of the most attractive features of the Bank of America Customized Cash Rewards Credit Card is that it comes with no annual fee. This is a big plus for those who don’t want to pay an upfront fee to use their card.
5. 0% Introductory APR: The card offers a 0% introductory APR on purchases for the first 15 billing cycles, making it a great option for those who plan to make large purchases and pay them off over time. After the intro period ends, a variable APR of 17.24% – 27.24% applies.

How to Apply for the Card

Customized Cash Rewards Credit Card

1. Visit the Official Bank of America Website: Begin by navigating to the official Bank of America website. Look for the section dedicated to the Bank of America Customized Cash Rewards Card, where you can find comprehensive details about its features, benefits, and eligibility criteria.
2. Complete the Online Application Form: Fill out the online application with your accurate personal and financial details. Ensure that all information is up-to-date, as inaccuracies may delay the review process.
3. Submit Required Documentation: Depending on your financial situation, you may be asked to provide additional documentation, such as proof of income, identification, or residency. Having these documents prepared in advance can help expedite the evaluation of your application.
4. Review the Terms and Conditions: Carefully read through the terms and conditions associated with the Bank of America Customized Cash Rewards Card. It is essential to understand details such as interest rates, fees, the rewards structure, and any associated benefits the card offers.
5. Submit Your Application: After verifying that all necessary fields are complete and accurate, submit your application. You will receive an email confirmation along with details about the next steps and an estimated timeframe for the review process.

Negative Factors of the Bank of America Customized Cash Rewards Credit Card

1. Limited Rewards on Non-Bonus Categories: While the card offers a strong rewards structure in specific categories, purchases outside of the 3% and 2% categories earn only 1% cash back, which is lower than some other cards that offer a higher flat-rate return on all purchases.
2. Spending Cap on Bonus Categories: The 2% cash back on grocery store and wholesale club purchases is limited to the first $2,500 in combined purchases per quarter in these categories. Once you exceed this limit, your rewards will revert to the standard 1% cash back.
3. High APR After Introductory Period: The APR after the intro period can be relatively high, ranging from 17.24% to 27.24% variable APR. This could be a downside for those who carry a balance from month to month.
4. No Major Travel Perks: While the card is excellent for earning cash back on everyday purchases, it doesn’t offer the same level of travel benefits or rewards as some other cards, such as those with travel-specific rewards or points transfer options.

What Are the Requirements to Apply for the Bank of America Customized Cash Rewards Credit Card?

To apply for the Bank of America Customized Cash Rewards Credit Card, you will need to meet the following criteria:

1. Minimum Age: Applicants must be at least 18 years old (or the minimum age required in your state).
2. U.S. Residency: You must be a U.S. resident with a valid Social Security Number (SSN).
3. Credit Score: The card is typically suited for individuals with good to excellent credit, usually a score of 670 or higher.
4. Income Verification: You may be asked to provide proof of income to assess your ability to handle the card’s credit line.

Fees and Costs

Here’s a breakdown of the fees and costs associated with the Bank of America Customized Cash Rewards Credit Card:

• Annual Fee: $0
• APR: 0% intro APR for the first 15 billing cycles on purchases (then 17.24% – 27.24% variable APR)
• Foreign Transaction Fee: $0 (no foreign transaction fees)
• Cash Advance Fee: 3% of the amount of each cash advance (minimum of $10)
• Late Payment Fee: Up to $40
• Returned Payment Fee: Up to $40

Frequently Asked Questions about the Card

1. How does the cash back structure work?

• The Bank of America Customized Cash Rewards Credit Card allows you to earn 3% cash back on a category of your choice, 2% cash back on grocery store and wholesale club purchases (up to $2,500 per quarter), and 1% cash back on all other purchases.

2. What is the sign-up bonus for the card?

• New cardholders can earn a $200 online cash rewards bonus after spending $1,000 in the first 90 days of account opening.

3. Are there any foreign transaction fees?

• No, the Bank of America Customized Cash Rewards Credit Card charges no foreign transaction fees, making it a good choice for international travel.

4. Is there an annual fee for this card?

• No, there is no annual fee for the Bank of America Customized Cash Rewards Credit Card.

5. What is the introductory APR?

• The card offers a 0% introductory APR for the first 15 billing cycles on purchases, followed by a variable APR of 17.24% – 27.24%.

6. Can I change my 3% cash back category?

• Yes, you can change your 3% cash back category once a month to adapt to your current spending habits.

The Bank of America Customized Cash Rewards Credit Card is a fantastic option for those looking for a flexible and rewarding credit card.

With customizable cash back, no annual fee, and a $200 sign-up bonus, it’s a great choice for anyone looking to earn rewards on everyday spending.

However, it’s important to keep in mind the spending limits on bonus categories and the APR once the introductory period ends.

If you can leverage the card’s benefits and pay off your balance in full each month, this card could be an excellent addition to your wallet.