Bank of America Customized Cash Rewards Credit Card

Quick Snapshot

• Annual Fee: $0
• APR: 0% intro for 15 billing cycles, then 17.74%–27.74% variable
• Rewards: 6% cash back in choice category (first year), 3% thereafter, 2% groceries/wholesale clubs
• Bonus: $200 after $1,000 spend in first 90 days
• Best For: Category customization, grocery shoppers, Bank of America customers
• Credit Needed: Good to Excellent (670+)

Overview

The Bank of America Customized Cash Rewards Credit Card is a flexible no annual fee cash back card that puts you in control of your rewards. Choose from six bonus categories each month—including gas, online shopping, dining, travel, drug stores, or home improvement—and earn an impressive 6% cash back in your selected category during your first year (3% thereafter). The card also earns 2% at grocery stores and wholesale clubs, making it one of the most versatile cash back cards available.

What makes this card truly shine for Bank of America customers is the Preferred Rewards program. Depending on your combined balance tier with Bank of America and Merrill, you can earn an additional 25%–75% bonus on every purchase. This means Platinum Honors members can earn up to 10.5% cash back in their choice category during the first year—a rate nearly unmatched in the no annual fee cash back space.

APR Breakdown

• Purchase APR: 0% intro APR for 15 billing cycles, then 17.74%–27.74% variable
• Balance Transfer APR: 0% intro APR for 15 billing cycles on balance transfers made in the first 60 days, then 17.74%–27.74% variable
• Cash Advance APR: Variable APR (contact issuer for current rate)
• Penalty APR: Variable (contact issuer for current rate)
• Balance Transfer Fee: Either $10 or 3% of the amount of each transfer, whichever is greater

Note: Extended 0% intro period makes this card excellent for large purchases or consolidating debt.

Benefits Overview

Travel Benefits

• No specific travel benefits included with this card
• Card is accepted worldwide wherever Visa or Mastercard is accepted

Everyday Benefits

• $0 Fraud Liability: You won't be held responsible for unauthorized charges made with your card or account information
• Purchase Protection: Coverage for new purchases against theft or damage
• Extended Warranty Protection: Extends manufacturer's warranty by an additional year
• FICO Score Access: View your FICO credit score for free in Online Banking and the Mobile Banking app
• Contactless Cards: Tap to pay for a fast, easy and secure way to pay in-store
• Digital Wallet Compatibility: Add your card to your digital wallet for convenient payments
• EMV Chip Technology: Added security when you use your card at chip-enabled terminals

Lifestyle Benefits

• Category Flexibility: Change your 3% bonus category every month based on your spending patterns
• No Hassle Rewards: Cash back rewards don't expire as long as your account remains open
• Preferred Rewards Multiplier: Earn 25%–75% more cash back on every purchase with qualifying Bank of America/Merrill balances

Rewards & Cash Back

• 6% cash back in your choice category for the first year (3% base + 3% first-year bonus)
• 3% cash back in your choice category after the first year
• 2% cash back at grocery stores and wholesale clubs
• 1% cash back on all other purchases
• Earn 6% and 2% cash back on the first $2,500 in combined purchases each quarter in the choice category and at grocery stores/wholesale clubs, then earn unlimited 1% thereafter

Preferred Rewards Bonus Earning Rates

With Preferred Rewards membership, your earning rates increase significantly:

Gold Tier ($20,000+ combined balance):

• 7.5% in choice category (first year), 3.75% thereafter
• 2.5% at grocery stores and wholesale clubs
• 1.25% on all other purchases

Platinum Tier ($50,000+ combined balance):

• 9% in choice category (first year), 4.5% thereafter
• 3% at grocery stores and wholesale clubs
• 1.5% on all other purchases

Platinum Honors Tier ($100,000+ combined balance):

• 10.5% in choice category (first year), 5.25% thereafter
• 3.5% at grocery stores and wholesale clubs
• 1.75% on all other purchases

Choice Categories

Select one category each month from:

• Gas stations
• Online shopping
• Dining
• Travel
• Drug stores
• Home improvement/furnishings

Important: You must manually select your category each month in your Bank of America account. If you don't select a category, you'll still earn the base 1% cash back.

Welcome Bonus

Earn $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

This bonus is worth 20% of the minimum spend requirement, making it one of the more generous welcome offers among no annual fee cash back cards.

Fees Summary

• Annual Fee: $0
• Foreign Transaction Fee: 3% (contact issuer to confirm)
• Balance Transfer Fee: Either $10 or 3% of the amount transferred, whichever is greater
• Cash Advance Fee: Either $10 or 5% of the amount, whichever is greater (contact issuer to confirm)
• Late Payment Fee: Up to $40
• Returned Payment Fee: Up to $40

Who This Card Is Best For

Ideal For

• Category optimizers who like to align bonus rewards with monthly spending patterns
• Grocery shoppers who consistently spend at supermarkets and warehouse clubs
• Bank of America customers who can leverage Preferred Rewards bonuses
• Balance transferers needing a 0% intro APR period to pay down debt
• Flexible spenders whose bonus category needs change throughout the year
• Households with high quarterly spending who can maximize the $2,500 cap

Not Good For

• International travelers (3% foreign transaction fee makes this costly abroad)
• Set-it-and-forget-it users who don't want to manage monthly category selection
• Low spenders who won't reach the $2,500 quarterly cap
• Those without Bank of America accounts who can't access Preferred Rewards multipliers
• Travel rewards seekers (this is a cash back card, not a travel card)

Key Pros & Cons

Pros

• No annual fee makes it accessible for long-term use
• Impressive 6% cash back rate in your choice category during first year
• Strong 2% grocery store and wholesale club earning rate
• Flexibility to change your 3% bonus category monthly
• $2,500 quarterly spending cap provides substantial earning potential ($150/quarter in bonuses)
• Extended 15-month 0% intro APR period on purchases and balance transfers
• Preferred Rewards program dramatically boosts earning rates (up to 10.5% possible)
• Cash rewards never expire while account remains open
• Robust purchase protections including extended warranty
• $200 welcome bonus has a low $1,000 spend requirement

Cons

• Must manually select your 3% category each month to maximize rewards
• $2,500 quarterly cap on combined bonus categories (groceries + choice category)
• 3% foreign transaction fee limits international use
• Variable APR can be high (up to 27.74%) after intro period
• Preferred Rewards benefits require maintaining significant balances ($20K–$100K+) with Bank of America/Merrill
• Welcome bonus only available to new customers
• No bonus category for everyday essentials like gas or dining unless selected as choice category
• Category changes require logging in and manually updating selection

Alternatives to Consider

How the Rewards Add Up

Example Annual Value (Without Preferred Rewards)

If you spend $15,000 per year across typical expenses:

Total First Year Value: $500
Ongoing Annual Value (years 2+): ~$240

Example Annual Value (With Platinum Honors - 75% Bonus)

Same spending pattern with Platinum Honors tier:

Total First Year Value: $725
Ongoing Annual Value (years 2+): ~$430

Key Insight: With Platinum Honors status, this card delivers exceptional value that rivals premium annual fee cards, all with $0 annual fee.

Should You Get This Card?

You Should Get It If…

• You want flexibility to customize your bonus category based on monthly spending
• You regularly shop at grocery stores and wholesale clubs (Costco, Sam's Club)
• You're a Bank of America or Merrill customer with Preferred Rewards status
• You can benefit from the 15-month 0% intro APR for a large purchase or balance transfer
• You're willing to spend a few minutes each month selecting your bonus category
• You want a no annual fee card that can deliver premium-level rewards with Preferred Rewards
• You can maximize the $2,500 quarterly spending cap in bonus categories

You Should Skip It If…

• You travel internationally frequently (3% foreign fee is a dealbreaker)
• You prefer a set-it-and-forget-it card with no monthly category management
• You don't have Bank of America accounts and can't access Preferred Rewards
• You want higher flat-rate rewards without quarterly caps
• You're looking for travel rewards points with transfer partners
• You won't remember to update your category selection each month
• Your spending doesn't align with any of the six available bonus categories

Apply Now

Apply for Bank of America Customized Cash Rewards Credit Card

Information accurate as of December 2025. Terms and conditions apply. Please visit the issuer's website for the most current information.