Bank of America Customized Cash Rewards Credit Card – How to Apply
Bank of America Customized Cash Rewards offers customizable 3% cashback category.
Anúncios
Earning cashback on your everyday purchases has never been easier. The Bank of America Customized Cash Rewards Credit Card allows you to customize your cashback categories, so you get the most value based on your spending habits.
Anúncios
With a flexible 3% cashback category, 2% back at grocery stores and wholesale clubs, and 1% on all other purchases, this card ensures you’re always earning maximum rewards on what matters most to your lifestyle and spending habits.
Unlike many cashback credit cards with fixed rewards, this card allows you to adjust your 3% category every month. This flexibility ensures your rewards align with your changing lifestyle, making it an excellent choice for smart and strategic spenders.
If you’re looking for a credit card with no annual fee, a generous 0% introductory APR on purchases and balance transfers, flexible cashback options, and full control over how you earn rewards, this might be the perfect card for you.
Anúncios
Bank of America® Customized Cash Rewards Credit Card
No annual fee 0% Intro APRHow Does the Bank of America Customized Cash Rewards Credit Card Work?
The Bank of America Customized Cash Rewards Credit Card offers a tiered cashback structure that rewards users based on their spending categories. This flexibility allows cardholders to maximize their cashback earnings each month.
The biggest advantage of this card is the ability to choose a 3% cashback category, which can be changed monthly. This feature allows users to adjust their rewards based on shifting spending patterns and financial priorities.
Cardholders earn 2% cashback on grocery store and wholesale club purchases, ensuring that everyday essentials continue to earn solid rewards. Meanwhile, all other purchases earn 1% cashback, keeping cashback consistent across spending categories.
The 3% and 2% cashback categories share a $2,500 spending cap per quarter. Once this limit is reached, purchases in these categories drop to 1% cashback, which can significantly impact rewards potential for frequent high spenders.
Main Benefits of the Bank of America Customized Cash Rewards Credit Card
- One of the biggest advantages of this card is its customizable 3% cashback category, allowing cardholders to adapt their rewards based on where they spend the most. This flexibility ensures maximum cashback earnings every month.
- Whether you spend heavily on gas, dining, travel, home improvement, or online shopping, you can adjust your 3% category accordingly. This adaptability makes the card more rewarding than fixed-category cashback options.
- Another key benefit is the 0% introductory APR on purchases and balance transfers for the first 15 billing cycles. This feature provides financial flexibility for managing expenses, financing purchases, or consolidating debt without immediate interest.
- Bank of America Preferred Rewards members enjoy an additional 25% to 75% cashback boost, further increasing the value of rewards. This makes the card especially attractive for existing Bank of America customers with qualifying accounts.
Cons of the Bank of America Customized Cash Rewards Credit Card
Despite its many benefits, this card comes with a few limitations that could impact its overall appeal for some users, depending on their financial habits and spending needs.
- One downside is the $2,500 quarterly cap on 3% and 2% cashback categories. After reaching this spending limit, all purchases in those categories earn only 1% cashback, reducing the rewards potential for frequent high spenders.
- Additionally, users must manually select their 3% category each month to optimize rewards. Those who prefer a fixed cashback system may find this requirement inconvenient, as forgetting to update categories can lead to missed opportunities.
- Another drawback is the foreign transaction fees, making this card less suitable for international travelers. If you frequently make purchases abroad, a credit card with no foreign transaction fees would be a better alternative.
You will be redirected.
APR and Fees
The Bank of America Customized Cash Rewards Credit Card includes a 0% introductory APR on purchases and balance transfers for the first 15 billing cycles, making it an excellent option for those looking to save on interest and manage expenses efficiently.
A balance transfer fee applies when moving debt from another card, which should be factored into cost considerations. After the intro period, the regular APR applies, meaning it’s best to pay off balances before higher rates take effect.
The card has no annual fee, making it a cost-effective long-term option for cashback seekers. However, foreign transaction fees apply, limiting its usefulness for those who frequently shop or travel internationally.
By strategically managing balance transfers and purchases, users can maximize the benefits of the 0% APR window while avoiding unnecessary interest charges once the introductory period expires.
How to Apply – Bank of America
Applying for the Bank of America Customized Cash Rewards Credit Card is a quick, straightforward, and hassle-free process that can be completed online within minutes, providing applicants with a fast approval decision in most cases.
To begin, visit the Bank of America website, navigate to the credit card application page, and carefully fill out the form with personal and financial details. Ensure all information is accurate and complete to prevent unnecessary approval delays.
Applicants with good to excellent credit (typically 670 or higher) have the highest approval chances. Meeting income and credit score requirements not only improves eligibility but may also determine the initial assigned credit limit.
Once approved, the card is mailed within 7–10 business days, allowing users to start earning cashback rewards immediately. The ability to select reward categories, maximize earnings, and benefit from 0% APR makes this a strong financial option.
