Bank of America has introduced a new cash rewards credit card that is customizable to fit each borrower’s unique needs. This card offers a variety of features and benefits, including bonus cash back, travel protection, and extended warranty coverage. Let’s take a closer look at this card and see if it is the right choice for you!
What are Bank of America Customized Cash Rewards Credit Cards?
Bank of America Customized Cash Rewards Credit Cards is a credit card that allows you to earn cash back on your purchases. In addition, you can customize your cashback rewards by choosing the categories you spend the most in, such as gas, groceries, or dining. This makes it easy to maximize your rewards and get the most bang for your buck.
The Bank of America Customized Cash Rewards card, offers new cardholders a modest balance transfer fee and attractive perks for everyday spending; however, its APR is high for cardholders with less-than-perfect credit.
The Bank of America® Customized Cash Rewards credit card is a solid choice if you spend a lot in at least one of the card’s 3% bonus categories and like having the option of switching back and forth, or you spend a lot at grocery stores and wholesale clubs, where you’ll get 2% back.
What are the benefits of using a Bank of America Customized Cash Rewards Credit Card?
Some of the benefits of using a Bank of America Customized Cash Rewards Credit Card include earning cashback on your everyday purchases, being able to customize your cashback rewards to fit your spending habits, and getting access to exclusive discounts and perks.
If you’re a Bank of America customer, you can take advantage of special bonuses and offers. So, if you’re looking for a card that will reward you for your everyday spending, the Bank of America Customized Cash Rewards Credit Card is a great option.
Cardholders eligible for the Bank of America® Preferred Rewards program can earn higher rewards rates. There’s no minimum redemption requirement with this card when doing a one-time redemption of cash rewards into your Bank of America® account or a statement credit. However, there’s still a $25 minimum redemption requirement for other redemption options.
Cashback can be redeemed for statement credit, a check, a direct deposit into a Bank of America®’s checking or savings account, an eligible 529 account, or a contribution to an eligible Merrill account.
How do they work?
Bank of America Cash Rewards credit cards work. You get rewarded for the things you buy every day. With no annual fee and 0% APR on purchases for your first 12 billing cycles, there’s never been a better time to get one. Plus, as a card member, you can enjoy access to exclusive events and extras like special savings and discounts on top brands.
Redeem your cash rewards for any amount, anytime for statement credits; deposits made directly into a Bank of America ® checking or savings account, or for credit to an eligible account with Merrill. Redemptions to contribute to a qualifying 529 account with Merrill or a check start at $25.
Before you transfer a balance from a high-interest card, know that you need to make the transfer in the first 60 days of account opening to qualify for the intro APR for balance transfers, and there’s a balance transfer fee of 3% (minimum $10) of the transaction amount.
If you’re a Preferred Rewards member, you can earn 25% – 75% more cashback on every purchase. That means you could earn up to 5.25% cashback on purchases in your chosen category: no annual fee and no expiration on rewards.
How do I get one?
If you’re interested in getting a Bank of America Cash Rewards credit card, visit your nearest financial center or go online to bankofamerica.com. Applying is easy – and there’s no annual fee or foreign transaction fees. Plus, if you’re approved, you can enjoy 0% APR on purchases for your first 12 billing cycles. Terms apply.
The different types of Bank of America Customized Cash Rewards Credit Cards
Cash Rewards Card
The Cash Rewards card offers a $100 cash rewards bonus after spending just $500 in purchases within the first 90 days of account opening. You’ll earn unlimited base points at a rate of one point per dollar paid on all purchases, and you can redeem your points for statement credits, gift cards, or merchandise. There is no annual fee with this card.
If you’re looking for a low-maintenance alternative to the Customized Cash Rewards card and maintain a sizeable balance across your eligible Bank of America checking and savings or Merrill investment accounts, the Bank of America Unlimited Cash Rewards card may be your most lucrative flat-rate cash back card option.
Travel Rewards Card
The Travel Rewards card also offers a $100 cash rewards bonus after spending just $500 in purchases within the first 90 days of account opening. However, you’ll earn two points per dollar spent on travel and dining purchases and one point per dollar spent on all other purchases. You can redeem your points for statement credits, gift cards, or merchandise. In addition, there is a $95 annual fee with this card that’s waived the first year.
The Premium Rewards Card
Offers a 50,000 point sign-up bonus after spending just $4000 in purchases within the first 90 days of account opening. You’ll earn two points per dollar spent on travel and dining purchases and one point per dollar spent on all other purchases. Additionally, you’ll receive a $100 airline incidental credit each calendar year and a $200 annual travel credit that can be used for any travel purchase. In addition, a $95 annual fee with this card is waived the first year.
The Preferred Rewards Program
The Preferred Rewards program offers the potential to earn bonus rewards on all Bank of America credit cards. For example, if you have at least $20,000 in combined balances across your Bank of America deposit and investment accounts, you’ll receive a 25% bonus on all base points earned.
For a card with no annual fee, this card fields a generous rewards structure — especially for Bank of America customers who qualify for the Preferred Rewards program. Cardholders earn 3% cashback on one of the following categories of their choosing: gas stations, online shopping, dining, travel, drug store purchases, or home improvement/furnishings. You’ll also earn 2% cash back at grocery stores and wholesale clubs.
If you have at least $100,000 in combined balances across your Bank of America deposit and investment accounts, you’ll receive a 75% bonus on all base points earned. This means that if you have the Cash Rewards card, for example, you will make a total of 187.50 base points per dollar spent on all purchases.
How to choose the right bank of America Customized Cash Rewards Credit Card for you?
Choosing the right cashback credit card can be tricky. There are many different options out there, and it can be hard to know which one is the best for you. That’s why we’ve put together this review of the Bank of America Customized Cash Rewards Credit Card.
This credit card offers a lot of flexibility in how you earn cashback. You can choose to make more cashback on the categories that matter most to you, and you can change your category choices at any time. Plus, there’s no limit to the amount of cashback you can earn, and your rewards never expire.
If you’re looking for a credit card that offers excellent cashback rewards and plenty of flexibility, then the Bank of America Customized Cash Rewards Credit Card is a great option. So apply today and start earning rewards on your everyday purchases!
How to use your Bank of America Customized Cash Rewards Credit Card for maximum benefit?
The Bank of America Customized Cash Rewards Credit Card is a great way to earn cashback on your everyday purchases. Here are some tips on how to use your card for maximum benefit:
- Use your card for all of your everyday purchases, including gas, groceries, and dining out.
- Be sure to pay your bill in full and on time each month to avoid interest charges.
- Redeem your cash back rewards for statement credits or gift cards when you have the opportunity.
By following these simple tips, you can maximize the rewards you earn with your Bank of America Customized Cash Rewards Credit Card. So start using your card today and enjoy the benefits of cashback!
The Bank of America Customized Cash Rewards Credit Card is an excellent option for anyone looking to earn cash back on their everyday purchases. With no annual fee and plenty of flexibility, this card offers many values for so many borrowers. Be sure to apply today and start earning rewards on your regular spending! To learn how to get more out of your Bank of America Customized Cash Rewards Credit Card, Edfed offers Credit Card programs that will give you a better understanding of your rewards.