Bank of America Customized Cash Rewards Credit Card Review
Editorial rating: ★★★★☆ 4.5 out of 5
| Annual fee | $0 |
|---|---|
| Network | Mastercard®; verify the network shown in your application disclosures |
| Credit limit | Assigned after approval based on individual underwriting |
| Minimum income | No publicly stated minimum; approval depends on the applicant’s profile |
The Bank of America Customized Cash Rewards Credit Card is a cash-back credit card designed for consumers who want to select a preferred spending category. It combines a $0 annual fee with flexible rewards, online account management, and a promotional introductory APR. The product is not a loan without review: approval, credit limit, pricing, and eligibility depend on the applicant’s credit profile and the terms shown during the application process. ([bankofamerica.com](https://www.bankofamerica.com/credit-cards/products/cash-back-credit-card/?utm_source=openai))
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Key Benefits of the Customized Cash Rewards Card
$0 Annual Fee
The card has a $0 annual fee, which can make it easier to keep open for a longer period and preserve account history. However, interest charges, balance-transfer fees, late fees, and other costs may apply according to the account agreement.
Category-Based Cash Back
Cardholders can choose a bonus category such as gas and electric vehicle charging, online shopping, dining, travel, drug stores, or home improvement and furnishings. The card also offers automatic cash back at grocery stores and wholesale clubs, plus a base rate on other eligible purchases. Bonus-category rewards are subject to a combined quarterly purchase limit, after which lower rewards rates may apply. ([bankofamerica.com](https://www.bankofamerica.com/credit-cards/products/cash-back-credit-card/?utm_source=openai))
Digital Management and Additional Users
Online Banking and the Mobile Banking app allow users to review transactions, monitor available credit, access statements, make payments, and redeem eligible cash rewards. An authorized-user option may also be available, including for some younger household members, but age requirements and account responsibilities should be confirmed directly in the account disclosures. ([bankofamerica.com](https://www.bankofamerica.com/credit-cards/credit-card-payments-statements-faq/?utm_source=openai))
The card may support contactless payments where the issued card and merchant terminal are enabled. It should generally work wherever the applicable Mastercard network is accepted, but foreign transaction terms and international usage costs must be checked before traveling. A discount for paying purchase installments early is not presented as a standard benefit in the reviewed product information, so applicants should not assume that such a discount applies.
Pros and Cons
- Pros: $0 annual fee; customizable bonus category; grocery and wholesale-club rewards; introductory APR offer; online and mobile account management.
- Pros: Cash rewards can generally be redeemed through options such as statement credits or eligible account deposits, subject to program terms.
- Cons: Bonus rewards are limited by a combined quarterly spending cap.
- Cons: The standard variable APR can be costly if the balance is carried after the introductory period.
- Cons: Credit limit, approval, APR, and available offers vary by applicant.
How to Manage the Statement and Make Payments
- Sign in to Bank of America Online Banking or the Mobile Banking app.
- Select the credit card account and open the Statements & Documents area to view, download, or print the statement.
- Review the balance, minimum payment, due date, transactions, and available credit.
- Choose Pay & Transfer and then Pay Bills to schedule a one-time or recurring payment.
- Select the payment account, enter the amount, confirm the date, and retain the confirmation for your records.
Payments can generally be made from an eligible Bank of America account or another financial institution through the available payment tools. Paying the statement balance in full by the due date may help avoid interest on purchases, subject to the card agreement and grace-period rules. ([bankofamerica.com](https://www.bankofamerica.com/credit-cards/credit-card-payments-statements-faq/?utm_source=openai))
Final Verdict
The Bank of America Customized Cash Rewards Credit Card can be a strong fit for consumers who actively manage spending categories and want cash back without an annual fee. Its main limitations are the quarterly bonus cap and the potentially high variable APR after any introductory offer. It may be less suitable for someone who prefers one flat rewards rate across every purchase or routinely carries a balance. Approval is subject to credit review, and applicants should read the complete rates, fees, and rewards disclosures before applying.
References
- Bank of America, Bank of America Customized Cash Rewards Credit Card.
- Bank of America, Cash Back Categories and Exclusions.
- Bank of America, Credit Card Payments and Statements FAQs.
- Bank of America, Credit Card Account Information FAQ.
- Bank of America, Sample Credit Card Agreements.
Subject to credit approval. Terms and conditions apply; consult the official website for current rates and details.
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