Bank of America
Get 6% cash back in your chosen category for the first year, a $200 bonus, and no annual fee. Start today and unlock more rewards on what matters most to you.
The Bank of America® Customized Cash Rewards Credit Card presents a compelling package for those seeking flexibility in their rewards. With this card, you earn 6% cash back in the category of your choice for your first year (on up to $2,500 quarterly in combined purchases for the chosen category and groceries/wholesale clubs). You also get automatic 2% cash back at grocery stores and wholesale clubs, plus unlimited 1% on other purchases. There’s no annual fee, and a $200 online cash rewards bonus is available for new cardholders. After your first year, the cash back in your preferred category shifts to 3% (again up to $2,500 quarterly).
Interest rates vary, with a 0% intro APR for your first 15 billing cycles on purchases and balance transfers (if made within 60 days). After the introductory period, a variable APR in the range of 17.74% to 27.74% applies, based on your creditworthiness. There’s also a 3% intro balance transfer fee (or $10, whichever is greater) for the first 60 days, then 4% after that. Credit limits will depend on your application and credit evaluation.
How to Apply: Step by Step
- Visit the official Bank of America card application page.
- Select your preferred category for higher cash back rewards (monthly modifiable).
- Review terms and input necessary personal, financial, and contact information.
- Choose your card design (including a special limited-edition option).
- Submit your application for a quick approval decision.
Highlights: Pros of This Card
This card’s best feature is the high, flexible cash back rate in the category you use most, which can be changed every month. Many competitors lock you into set categories. The $200 bonus, generous introductory APR, and no annual fee boost the overall value.
Rewards accelerate further for Bank of America Preferred Rewards members—earning 25% to 75% more on every purchase. This benefit allows you to maximize cash back long after the first-year offer expires.
Drawbacks: Cons to Consider
The main drawback is the $2,500 combined quarterly spending cap on the highest rewards—after reaching it, you’ll only earn 1% on all purchases until the cycle resets. If you spend a lot monthly, the limit is noticeable.
Additionally, bonus rewards for groceries and the chosen category are not unlimited year-round. Plus, variable APR can reach the higher range if you don’t have excellent credit.
Final Verdict
The Bank of America® Customized Cash Rewards Credit Card stands out for flexible rewards and solid bonus offers. If you want customizable cash back and don’t mind a quarterly cap, it’s a fantastic option—especially for current Bank of America customers.