Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.
The Bank of America® Customized Cash Rewards Credit Card is a decent option for folks who want more control over how they earn rewards.
Cardholders earn 3% cash back in one category of their choice (from a list of six), 2% back at grocery stores and wholesale clubs, and 1% back on all other purchases. The 3% (choice category) and 2% (grocery/wholesale club) reward rates only apply up to the first $2,500 in combined purchases per quarter (then 1% cash back).
We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
Bank of America Customized Cash Rewards Review: Is It the Best Credit Card for You?
The Bank of America® Customized Cash Rewards Credit Card allows cardholders to change their 3% cash back category once per calendar month, so if you plan ahead, you can customize your rate to match your highest spending category every month. For example, you can customize your rewards to earn 3% cash back on online shopping during the holidays, or on gas or travel when you take your next trip.
There's a generous welcome offer of $200 cash rewards bonus after you spend $1,000 on purchases within 90 days of account opening. In addition, the Bank of America® Customized Cash Rewards Credit Card is a good balance transfer credit card. It offers a 0% intro APR on purchases for the first 18 billing cycles and for any balance transfers made within the first 60 days of account opening (then a 18.24% - 28.24% Variable APR). This is a great deal for folks planning on paying off larger purchases over a longer period, or for those needing to consolidate credit card debt.
Although the Bank of America® Customized Cash Rewards Credit Card has a competitive welcome bonus offer and intro APR, there are plenty of other no-annual-fee credit cards like it on the market — and some have greater reward flexibility and higher category bonuses. The U.S. Bank Cash+ Visa Signature Card, for example, earns 5% cash back (up to $2,000 each quarter, then 1%) in two categories of your choice, as well as 2% cash back at grocery stores, gas stations, EV charging stations, and restaurants.
Another card to consider is the Citi Custom Cash℠ Card which earns 5% cash back on your highest eligible spending category (from a list) each billing cycle up to $500 (then 1%). Also, it offers a $200 cash back, fulfilled as 20,000 ThankYou® Points, after you spend $1,500 on purchases in the first six months of account opening.
Further, if you don't want the hassle of customizing your rewards categories, or have roughly the same expenses each month, the Bank of America Customized Cash Rewards Card probably isn't the best card for you. Instead, consider one of the best 2% cash back credit cards, which earn a strong rewards rate on all purchases.
We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
Bank of America Customized Cash Rewards Cash Back
Bank of America Customized Cash Rewards bonus
New Bank of America Customized Cash Rewards Card cardholders can earn $200 cash rewards bonus after you spend $1,000 on purchases within 90 days of account opening. That's a respectable welcome offer for a no-annual-fee cash-back credit card, and is similar to offers on competing cards like the Wells Fargo Active Cash® Card, U.S. Bank Cash+® Visa Signature® Card , or Blue Cash Everyday® Card from American Express.
The minimum spending requirement is attainable, too, requiring just $1,000 in spending over 90 days. Putting everyday purchases like gas, groceries, and dining on the card should make the bonus easy to achieve for most folks.
How to earn cash back with the Bank of America Customized Cash Rewards credit card
The Bank of America® Customized Cash Rewards Credit Card has major appeal for folks looking to earn cash back on multiple spending categories. The biggest advantage is the 3% cash back on a spending category of your choosing.
You'll also earn 2% cash back at grocery stores and wholesale clubs, and 1% back on all other purchases. But keep in mind that the 3% and 2% rates only apply to the first $2,500 in combined spending each quarter (then 1% cash back). So if you typically spend more than that in these categories, you might consider switching to a different no-annual-fee cash-back card with a higher limit.
And, if you're a Bank of America Preferred Rewards member, you can earn up to 75% more cash back on purchases. This means that the 3% cash back on your chosen category could increase up to 5.25%, and the 2% at grocery stores and wholesale clubs could go up to 3.5% (still capped at the first combined $2,500 spent).
How to change reward category for the Bank of America Customized Cash Rewards credit card
If you want your rewards to change when your expenses change, you'll have to remember to manually shift your rewards category through Bank of America Online Banking or its Mobile Banking App.
You can change your 3% category once per calendar month. If you don't change it, it'll stay with the previously selected category. And if you don't set a category at all, it defaults to gas stations.
How to use cash back from the BoA Customized Cash Rewards card
You can redeem your rewards at any time as a statement credit, a direct deposit into a Bank of America account, or as elective credit with Merill. There's a minimum redemption of $25 when you contribute to a Merill 529 account or want a check.
You are also able to set up automatic redemptions (starting at $25) to eligible Bank of America and Merrill accounts (not including 529s).
Bank of America Customized Cash Rewards Benefits and Features
The Bank of America® Customized Cash Rewards Credit Card doesn't have many other benefits, but this is common with no-annual-fee credit cards.
Introductory 0% APR
The Bank of America® Customized Cash Rewards Credit Card is competitive with some of the best 0% APR credit cards thanks to its generous introductory 0% APR offer. New cardholders qualify for a 0% intro APR on purchases for the first 18 billing cycles and for any balance transfers made within the first 60 days of account opening, followed by a 18.24% - 28.24% Variable APR.
That long intro period can give you the relief you need to pay down some debt without getting hit with huge interest charges, or finance a purchase you can't pay off all at once. The balance transfer offer is particularly generous for a card that earns rewards; just be sure to weigh the pros and cons to figure out if a balance transfer is worth it for you.
$0 liability guarantee
If you lose your card or see suspicious transactions on your account, you can file a claim to avoid being held liable for unauthorized purchases and transactions.
Overdraft protection
You can prevent declined purchases or returned checks by linking your Bank of America® Customized Cash Rewards Credit Card to your checking account. You won't be charged an overdraft fee but other fees may still apply.
Mobile wallet
You can add your Bank of America® Customized Cash Rewards Credit Card to your mobile device to use in stores, online, or in apps. Your actual card number won't be stored on the device or shared with most merchants.
Free FICO score
Primary cardholders can access their FICO score for free through the Bank of America mobile app under the online account management page or on the mobile banking website.
What credit score do you need for the BoA Customized Cash Rewards?
Most people who are approved for the Bank of America Customized Cash Rewards Card have a credit score in the good or excellent range. That means a FICO score of at least 670.
Bank of America won't just look at your credit score when looks at your application; it considers factors like income, history with the bank, number of other credit cards you have open, and other factors to decide whether or not to approve you.
Bank of America Customized Cash Rewards Annual Fee and Other Costs
The Bank of America® Customized Cash Rewards Credit Card has a $0 annual fee. However, it charges other fees you should be aware of, including:
- Foreign transactions: 3% of the US dollar amount of each transaction made in a foreign currency; if you're traveling abroad, pack one of the best credit cards with no foreign transaction fees instead
- Cash advances: Direct deposit and check cash advances – 3% of the amount of each transaction; ATM, over-the-counter, same-day online, and cash equivalent cash advances — 5% of the amount of each transaction
- Balance transfers: 3% of the amount of each transaction
- Late payments: Up to $40
If you carry a balance on the card after the intro APR period expires, be aware there's a regular APR of 18.24% - 28.24% Variable. If at all possible, pay your balance in full every month, otherwise the interest you're charged will negate any rewards you earn with the card.
How the Bank of America Customized Cash Rewards Compares
Bank of America Customized Cash Rewards vs other BoA credit cards
| Bank of America® Customized Cash Rewards Credit Card | Bank of America® Travel Rewards credit card | Bank of America Bank of America® Unlimited Cash Rewards Credit Card | |
| Annual fee | $0 | $0 | $0 |
| Rewards rate | 3% cash back* in one category you choose each calendar month*** 2% cash back at grocery stores and wholesale clubs* 1% cash back on all other purchases | 1.5x points on all purchases | 1.5% cash back on all purchases |
| Welcome bonus | $200 cash rewards bonus after you spend $1,000 on purchases within 90 days of account opening | 25,000 online bonus points after making at least $1,000 in purchases in the first 90 days of account opening | $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days from account opening |
| Card benefits | 0% intro APR on purchases for the first 18 billing cycles and for any balance transfers made within the first 60 days of account opening (then a 18.24% - 28.24% Variable APR) Free FICO score | 0% intro APR for the first 15 billing cycles on purchases and on balance transfers made within the first 60 days of account opening (then a 18.24% - 28.24% Variable APR) No foreign transaction fees Free FICO score | 0% intro APR for the first 15 billing cycles on purchases and on any balance transfers made in the first 60 days (then a 18.24% - 28.24% Variable APR) Free FICO score |
| Learn more |
|
*On the Bank of America® Customized Cash Rewards Credit Card, earn 3% and 2% cash back on up to the first $2,500 spent in these categories combined each quarter, then 1% cash back
***Eligible Bank of America® Customized Cash Rewards Credit Card 3% categories are gas, online shopping, dining, travel, drug stores, or home improvement/furnishings
Bank of America Customized Cash Rewards vs other customizable cash-back credit cards
Bank of America® Customized Cash Rewards Credit Card | Citi Custom Cash℠ Card | U.S. Bank Cash+® Visa Signature® Card | |
| Annual fee | $0 | $0 | $0 |
| Rewards rate | 3% cash back* in a one category you choose each calendar month*** 2% cash back at grocery stores and wholesale clubs* 1% cash back on all other purchases | 5% cash back on up to $500 spent in your top eligible spending category**** each billing cycle (then 1%) 1% cash back on all other purchases | 5% cash back in two categories of your choice, up to $2,000 in combined spending each quarter (then 1%)***** 2% cash back at grocery sites, gas stations, EV charging stations, or restaurants 1% cash back on all other eligible purchases |
| Welcome bonus | $200 cash rewards bonus after you spend $1,000 on purchases within 90 days of account opening | $200 cash back, fulfilled as 20,000 ThankYou® Points, after you spend $1,500 on purchases in the first six months of account opening | $200 bonus after spending $1,000 in eligible purchases within the first 120 days of account opening |
| Card benefits | 0% intro APR on purchases for the first 18 billing cycles and for any balance transfers made within the first 60 days of account opening (then a 18.24% - 28.24% Variable APR) Free FICO score | 0% intro APR on balance transfers and purchases for 15 months(then a 19.24% - 29.24% Variable APR) Free FICO score Citi Entertainment
| 0% intro APR on purchases and balance transfers for the first 15 billing cycles (then a 19.74% - 29.74% Variable APR) Roadside dispatch Travel and emergency assistance services Visa Signature benefits |
| Learn more |
|
*On the Bank of America® Customized Cash Rewards Credit Card, earn 3% and 2% cash back on up to the first $2,500 spent in these categories combined each quarter, then 1% cash back
***Eligible Bank of America® Customized Cash Rewards Credit Card 3% categories are gas, online shopping, dining, travel, drug stores, or home improvement/furnishings
****eligible 5% cash back categories on the Citi Custom Cash℠ Card are restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs, and live entertainment
******5% cash back category choices on the U.S. Bank Cash+® Visa Signature® Card are prepaid air travel, hotel stays, and car reservations booked directly in the Rewards Center online portal, fast food, home utilities, TV, internet, and streaming services, department stores, electronic stores, cell phone providers, sporting goods stores, furniture stores, movie theaters, gyms and fitness centers, ground transportation, and select clothing stores
BoA Customized Cash Rewards Card Frequently Asked Questions (FAQ)
If you want the power to personalize your reward-earning categories to match your current spending, the Bank of America Customized Cash Rewards Card is worth considering. It earns 3% cash back on the category of your choosing (gas, online shopping, dining, travel, drug stores, or home improvement/furnishings). If you spend a lot in these categories, you could earn a lot of cash back with this card.
If your credit score isn't good but you like the earning rates and benefits of the Bank of America Customized Cash Rewards Card, you may still qualify for the secured version of the card. The Bank of America® Customized Cash Rewards Secured Credit Card is one of the best secured credit cards because of its earning rates. However, it doesn't have a welcome bonus or intro APR offer like the non-secured version of the card, and you'll need to put down a deposit to secure your credit line.
The credit limit of the Bank of America Customized Cash Rewards Card is usually at least $1,000 but could be a lot higher. Your credit limit is determined by credit score and history, income, debt as a percentage of income, and whether you have limits on any other credit cards.
Bank of America can automatically raise your credit limit no more than once every six months, as long as you are paying on time. You can request an increase on the Bank of America website under the Information and Services tab or call.
Methodology: How we reviewed the Bank of America Customized Cash Rewards
In our review process, we compared the Bank of America® Customized Cash Rewards Credit Card to competing no-annual-fee cash back cards, especially those that allow you to customize your bonus categories. We evaluated a number of factors, including:
- Ease of use — Is cash back from the card easy to earn and redeem, and is there more than one way to redeem your rewards? If there are spending caps, are they generous enough for the average customer?
- Earning potential — Are the card's earning rates competitive in comparison to similar cards? Are the bonus categories aligned with typical consumer spending habits, or are they more niche?
- Benefits — While most no-annual-fee cash-back cards have few bells and whistles, does the card come with any benefits that similar cards lack? For example, travel protections, a long intro APR offer, or credits?
Here's more about our methodology in Insider's guide to how we rate credit cards.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.