Bank of America Customized Cash Rewards benefits guide, How to maximize your Bank of America Customized Cash Rewards credit card, Credit score required for the Bank of America Customized Cash Rewards card. Fuel dealers whose primary line of business is the sale of heating oil, propane, kerosene and other fuels are also included. You can redeem your cash back for statement credits, deposits made directly into your Bank of America checking or savings account or for credit to an eligible account with Merrill Lynch or Merrill Edge. It is worth noting that there are Bank of America credit cards with a bonus valued at $200 or more, but they offer points rather than cash back. By providing my email address, I agree to CreditCards.coms By clicking on the button I accept the terms of the Public Offer of 404 PROJECTS LP, Choose a mortgage according to your needs, About Bank of America Customized Cash Rewards for Students, Bank of America Customized Cash Rewards Credit Card for Students features, How to apply for a Bank of America Customized Cash Rewards Credit Card for Students. The bonus categories cover most of the everyday spending needs of students. Read on for what you need to know about the 3-percent bonus, including how to choose a category and what purchases qualify for the bonus. Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases. The Bank of America content was last updated on October 3, 2022. Credit card rewards programs run the gamut from flat-rate cash back to rotating bonus categories to airline miles and everything in between. Plus, you can earn 3% cash back in a category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 spent on these categories combined per quarter), and 1% on all other purchases. The offers that appear on this site are from companies from which CreditCards.com receives compensation. When she's not writing about personal finance and credit cards, she's immersing herself in the world of travel hacking. The BoA Cash Rewards card offers as a base: 3% cash back in the category of your choice -- gas, online shopping, travel, dining, drug stores, home improvements/furniture 2% cash back -- grocery stores & wholesale clubs 1% cash back on all other purchases The ability to change your 3% cash back on a month-to-month basis No annual fee If you do, depending on your account balance, you could boost your earnings rates across all categories, including your 3 percent pick, by as much as 75 percent. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Lets face it theres a lot of jargon and high-level talk in the credit card industry. A spending limit of $2,500 sets us a cap on the amount of cash-back earned within one quarter. So, on a $100 purchase that earns you 3% cash back ($3) youll actually earn $3.75, $4.50 or $5.25 depending on your Preferred Rewards tier. Privacy Policy. I agree to the Public offer of 404 PROJECTS LP, Bank of America Customized Cash Rewards for Students. EDITORIAL DISCLOSURE All reviews are prepared by CreditCards.com staff. A 3% fee (min. The Bank of America Customized Cash card lives up to its name, letting you customize your cash back without too much hassle. Copyright 2022 CreditCards.com a Red Ventures Company. Editorial and user-generated content is not provided, reviewed or endorsed by any company. All Rights Reserved. The Bank of America Unlimited Cash Rewards Credit Card for Students skips over the bonus categories in favor of a flat 1.5% cash back for everything you buy. The card has zero liability if the bank suspects fraud. You can redeem cash rewards from Bank of America either online, through the mobile app, or over the phone at (800) 434-8313. While everyone can benefit having the Bank of America Customized Cash Rewards card, existing Bank of America members who qualify for the Preferred Rewards program will find even more value by owning this card, since you can earn 25% to 75% more points on all your purchases. Contactless Cards - The security of a chip card, with the convenience of a tap. Opinions expressed here are the authors and/or WalletHub editors'. WalletHub Answers is a free service that helps consumers access financial information. However, card members can change the category one time each calendar month through online banking or using the mobile banking app. 3% and 2% cash back only on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, and then it will be 1%. This question is about the Bank of America Customized Cash Rewards credit card. $10) applies. Every day, we strive to bring you peace-of-mind as you work toward your financial goals. To enroll in Preferred Rewards, you must have an eligible Bank of America personal checking account and a three-month average of $20,000 or more in qualifying Bank of America banking accounts and/or Merrill Edge and Merrill Lynch investment accounts. However, we may receive compensation when you click on links to products from our partners. The Bank of America Unlimited Cash Rewards credit card offers $200 online cash rewards for spending $1,000 in the first 90 days. Bank of America Customized Cash Rewards credit card. As of Jan. 14, 2019, cardholders can select whether they want to earn a 3-percent cash back bonus on gas, online shopping, dining, travel, drug stores or home improvement/furnishings. See the online credit card applications for details about the terms and conditions of an offer. By providing my email address, I agree to CreditCards.coms Redeeming cash rewards from Bank of America takes up to 14 business days, depending on the redemption method. The gas category includes gas and fuel merchants whose primary line of business is the sale of automotive gasoline that can be purchased inside the service station or at the automated fuel pump as well as gasoline purchased at boat marinas. The Bank of America Cash Rewards also includes no annual fee and a . For example, Delta Airlines, Airbnb, E-Zpass, Sunpass, Uber, Marriott. Our experts have learned the ins and outs of credit card applications and policies so you dont have to. is a former CreditCards.com products writer. Card advice Please review our list of best credit cards, or use our CardMatch tool to find cards matched to your needs. The offers that appear on this site are from companies from which CreditCards.com receives compensation. Select the amount of cash back to redeem. What is the best Bank of America credit card with a $200 bonus offer? 0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. Once the cap has been reached, cardholders will earn 1 percent cash back for the remainder of that quarter. Keep in mind that since purchases and transactions are submitted and categorized by the merchant, and not Bank of America, some of your purchases may not fall into the category that you would expect. In addition, with this card you can earn 1.5% cash back on all purchases. Stay up-to-date on the latest credit card news from product reviews to credit advice with our newsletter in your inbox twice a week. Plus, you'll earn 1 percent back on all spending after you reach the limit, meaning you could earn even more in rewards. When I log in, they have an offer for Cash Rewards card, $200 cash rewards bonus for $500 spend in first 90 days. This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. Bank of America Customized Cash Rewards credit card review. See the Preferred Rewards earning tiers below. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. The Preferred Rewards program is our way of rewarding you for what you already do, whether it's banking with Bank of America or investing with Merrill. The BankAmericard comes with a new account bonus, a valuable promotional financing offer and one of this banks lowest interest rates. The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. If you're a Preferred Rewards member, you can earn 25%-75% more cash back on every purchase. Here's what you can earn: Southwest Rapid Rewards Plus Credit Card 80,000 points (50,000 points after you spend $2,000 on purchases in the first 3 months ,and an additional 30,000 points after you spend $10,000 on purchases in the first 9 months) (read our Southwest Rapid Rewards Plus card review)Southwest Rapid Rewards Premier Credit . Having the flexibility to earn a higher rewards rate on the purchases you make the most can help you rack up points faster than you probably would with a fixed bonus category card. Cardholders will also earn 2 percent cash back at grocery stores and wholesale clubs (on up to $2,500 in combined 2- and 3-percent categories each quarter) and unlimited 1 percent cash back on everything else. You may want to hire a professional before making any decision. You can take advantage of this offer when you apply now. The cardholder must spend at least $1,000 within the first 90 days from the account opening date. What credit score is needed for the Arvest Bank Purchasing Credit Card? Do they go by the transaction date, or the post date. One lesser-known Bank of America perk is the issuers Museums on Us program, wherein cardholders receive free general admission to hundreds of cultural institutions during the first weekend of every month. The Bank of America Customized Cash Rewards card empowers the cardholder to choose their bonus category each quarter (to earn 3% cash back on up to $2,500 in combined purchases per quarter). **** Cash Rewards or statement credit redemptions; $25 minimum for 529 contributions and check redemptions Automatic Redemption $25 minimum Expiration As long as your account is open and has active charging privileges, Cash Rewards . You can change it once each calendar month . WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. Direct deposit to a checking or savings account: Will post to your requested account within five business days. By providing my email address, I agree to CreditCards.coms The Bank of America Customized Cash credit card offers a few other features worth mentioning. The Bank of America Cash Rewards card offers a variety of ways to redeem your rewards. From industry experts to data analysts and, of course, credit card users, were well-positioned to give you the best advice and up-to-date information about the credit card universe. To update the category in the mobile app, simply select the Bank of America Cash Reward card, click on the Rewards tab and select Get Started. If you want to choose a category other than gas, click Change Category., To get detailed information about each choice category, select Category Details. You can also view your previous choice categories by clicking Selection History.. The card's annual fee is $0. You earn Base Cash Rewards of 1% (equal to $0.01 for every $1) on all Net Purchases. Youll qualify for the lowest level (Gold) if you have $20,000 to $49,999 in your Bank of America deposit accounts, which will get you a 25% points bonus on all your purchases. How long does it take to redeem cash rewards from Bank of America? Combine that with the $200 sign-up bonus after $1,000 spend in the first 90 days of account opening, and you can earn at least $450 cash back in the first year alone. You can apply for the card directly. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. However, the interest rate is variable, so students pay less for using credit funds when the market is favorable. Bank of America Customized Cash Rewards credit card offers $200 for spending $1,000 in the first 90 days. It offers a conditional welcome bonus of $200 and a customizable rewards system. These editors thoroughly edit and fact-check the content, ensuring that the information is accurate, authoritative and helpful to our audience. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. You can redeem cash rewards from Bank of America through your. If youre looking to earn more rewards while doing less, this could be the card for you, especially if youre an existing Bank of America customers who can take advantage of boosted earning rates. A check that expires will be voided, and youll receive a statement credit for the check amount within two billing periods. To redeem your cash rewards for a direct deposit, you must have a Bank of America checking or savings account, or a Cash Management Account at Merrill Lynch. How to get the most out of this flexible Bank of America card. Will post to your designated Bank of America or Merrill account at the end of each calendar month, provided your rewards balance meets or exceeds $25. The card also carries a 0 percent intro APR on balance transfers for 18 billing cycles for any balance transfers made in the first 60 days (16.99% to 26.99% variable APR thereafter), which could come in handy if youve racked up high-interest debt on another card. This means that once you hit the quarterly limit of $2,500, your cash back will be limited to 1% until you hit the next quarter. A good example would be the Bank of America Travel Rewards credit card, which offers 25,000 points for spending $1,000 in the first 90 days. If youre not tied to Bank of America as an issuer, feel free to also check out some of. The bonus categories cover most of the everyday spending needs of students. So, on a $100 purchase that earns you 3% cash back ($3) youll actually earn $3.75, $4.50 or $5.25 depending on your Preferred Rewards tier. You might also want to steer clear if youre looking to use your rewards for travel redemptions the Bank of America Customized Cash card comes with limited redemption options or if you think youll regularly spend more than $2,500 per quarter in the 2 percent and 3 percent bonus categories. A variety of purchases ranging from everyday travel expenses to vacations and getaways qualify for the travel category. If you find that other cash-back cards dont exactly match your lifestyle and spending habits, youll like the flexibility of the Bank of America Customized Cash Rewards credit card. Keep an eye on your inboxwell be sending over your first message soon. Rewards are only redeemable for cash back, either in the form of a statement credit, direct deposit, or personal check. Check the data at the top of this page and the bank's website for the most current information. If youre interested in getting a card with rotating bonus categories, you can find many of them among WalletHubs picks for the best 5% cash back credit cards. Please log in or register before sending your review. Bank of America created a convenient mobile app allowing you to control spending, earnings, cash-back redemption, and finances from anywhere. (Theres no limit to how many you can pick.). If you choose to redeem your rewards using the personal check option, you should expect to wait at least 14 days for the check to arrive by mail. Our top goal is simple: We want to help you narrow down your search so you dont have to stress about finding your next credit card. Whats more, you can switch out your chosen category once a month, allowing you to maximize your bonus earnings as your spending habits change over time. Statement credits do not affect your minimum payment due each month. Check out our suggestions of which categories to choose each month to help boost your bonus earnings in 2019. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Since 2004, CreditCards.com has worked to break down the barriers that stand between you and your perfect credit card. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Merchants are assigned an MCC based on the products and services they offer. Is the BankAmericard credit card worth it? After the intro APR offer ends, 17.74% - 27.74% Variable APR will apply. Heres what to know. in which you earn cash rewards when you make purchases with a Bank of America cash rewards card. Reasonable efforts are made Multiple checks, if requested, will be mailed separately. For example, McDonalds, Starbucks, The Cheesecake Factory, Dominos Pizza and Grubhub all fall under this category. Do charges which are made today (Sep 28), but won't post until October get counted for the Q3 quarterly cap, or the Q4 quarterly cap? The Bank of America Customized Cash Rewards for Students features a zero annual fee. $0 Liability Guarantee. choose-your-own-adventure earnings structure, Bank of America Customized Cash Rewards credit card, Bank of America mobile app or online account, 3 percent cash back in the category of your choice: gas, online shopping, dining, travel, drugstores or home improvement/furnishings, 2 percent cash back at grocery stores and wholesale clubs, 1 percent cash back on all other purchases, Browse through the current promotions and activate the deals you like. $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. Automatic redemptions, starting at $25, can be set up for eligible Bank of America, Merrill Lynch or Merrill Edge account. Leave a review and get 20 Fincoins to your account! Plus, you can earn 1 - 3% cash back on purchases. Once the cap has been reached, cardholders will earn 1 percent cash back for the remainder of that quarter. will vary depending on how you redeem them and the card you have. Lets face it theres a lot of jargon and high-level talk in the credit card industry. Annual fee: $0; Balance transfer fee: 3% or $10 (whichever is greater) Cash advance fee: 5% or $10 (whichever is greater) Cash Rewards from Bank of America is a program in which you earn cash rewards when you make purchases with a Bank of America cash rewards card. Earn automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases). Card Details Interest Rates & Fees Rewards Security & Features Connect one on one with a credit card specialist Schedule an appointment $0 Liability Guarantee. New longer intro period! The cards annual fee is $0 and you need excellent credit for approval. In this case, you can earn cash back in three different tiers: This type of rewards card can be a great option for those whose everyday purchases align with one or more of these categories. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Is it possible to increase cash-back earned using Bank of America Customized Cash Rewards for Students? Cash Rewards cardholders will earn a 2-percent bonus on grocery store and wholesale club purchases, and a 3-percent bonus on choice categories on up to $2,500 in combined purchases each quarter. If you apply for a credit card, the lender may use a different credit score when considering your application for credit. Flexible earning structure (3% cash back in the category of your choice and 2% at grocery stores and wholesale clubs); up to $2,500 in combined purchases per quarter (then 1%), Maximum $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then 1%. There are some drawbacks of the Bank of America Customized Cash Rewards for Students: quarterly spending cap puts a limit on earning cash-back; balance transfer fee is applied (3% or $10); groceries cash-back category excludes some supermarkets. On the other hand, those who dont mind putting in a little extra work to maximize their earnings might be better off with a card that has a 5 percent cash back rate in rotating spending categories, like the Discover it Cash Back or the Chase Freedom Flex. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. However, it is possible to earn 3% and 2% cash back only on the first $2,500; then, the ratio is reduced to 1%. However, all credit card information is presented without warranty. Plus, youll earn a BankAmeriDeals coin for each qualifying purchase you make. The Bank of America Customized Cash Rewards for Students credit card is a great way to build a credit history and establish sound credit habits. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Heres more info about the cash rewards redemption options from Bank of America: You can redeem cash rewards from Bank of America through your online banking account, or by calling (800) 434-8313. The Bank of America Customized Cash Rewards for Students credit card is a great way to build a credit history and establish sound credit habits. *** (if qualified & enrolled): Earn 25%-75% more Cash Rewards. For example, Amazon.com, Bestbuy.com, Ticketmaster.com, QVC.com, Americanairlines.com, Starbucks.com and Uber.com are included in this category. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear within listing categories. This low-maintenance mainstay makes it easy for me to earn cash back on everyday purchases. That means the unlimited 1.5% cash back on all purchases could increase . If you select the travel category for one quarter, you can easily max out the $2,500 bonus earning cap and receive $80 cash back. Use your linked card to pay for your purchase. For starters, new cardholders can earn a modest sign-up bonus of $200 in online cash rewards when they spend a manageable $1,000 on purchases in their first 90 days of account opening. Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases. Content published under this author byline is generated using automation technology. If youre looking for a balance transfer credit card with a long interest-free period, the BankAmericard could be the answer. 1. See the online credit card applications for details about the terms and conditions of an offer. You have the power to pick your bonus category each month, which can appeal to those who dont have traditional spending habits. People with limited credit can get approved for this card. Rewards are only redeemable for cash back, either in the form of a statement credit, direct deposit, or personal check. Cash-back categories come with different reward ratios. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Choosing the right choice category to optimize your rewards earnings throughout the year depends on your spending habits. For further information about automated content on CreditCards.com, email Lance Davis, VP of Content, at lance.davis@bankrate.com. Editorial Note: Opinions expressed here are the authors alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. The Bank of America Customized Cash credit card might be a good fit if you prefer a mostly hands-off approach to earning rewards and want to avoid an annual fee. Privacy Policy. Privacy Policy. Checks are valid for 90 days from the date issued. It has not been provided or commissioned by the credit card issuers. If youre not tied to Bank of America as an issuer, feel free to also check out some of the best cash back credit cards on the market to weigh your options. The Bank of America Customized Cash Rewards credit card does not have a rewards calendar incorporated into its rewards program. That means you could earn 3.75%-5.25% cash back on purchases in your choice category. Its an even better match if youre a Bank of America or Merrill account holder and you qualify for the Preferred Rewards program. The Bank of America Cash Rewards Credit Card for Students offers 3% cash back in the category of your choice and 2% cash back at grocery stores and wholesale clubs (up to $2,500 in combined choice . WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our. $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. It is the category to choose from, and the choice is wide: gas and other kinds of fuel, shopping online, dining, medications, and home improvement. Cash Rewards cardholders will earn a 2-percent bonus on grocery store and wholesale club purchases, and a 3-percent bonus on choice categories on up to $2,500 in combined purchases each quarter. In addition, a promotional 0% APR is applied to the first 18 billing cycles. Our top goal is simple: We want to help you narrow down your search so you dont have to stress about finding your next credit card. Is the Bank of America Travel Rewards credit card worth it? Guide to earning the 3-percent cash back bonus from the Bank of America Cash Rewards credit card, Bank of America Cash Rewards credit card, How to maximize the Bank of America Cash Rewards cards 3-percent bonus, Credit score needed for the BankAmericard. Your credit cards journey is officially underway. Stay up-to-date on the latest credit card news from product reviews to credit advice with our newsletter in your inbox twice a week. You can expect to receive your card within 10 days of application approval. Generally, the value of Bank of America rewards points will vary depending on how you redeem them and the card you have. Enterprise Rent-A-Car, Amtrak and Expedia are considered qualifying merchants. 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. to maintain accurate information. The offers that appear on this site are from companies from which CreditCards.com receives compensation. Racking up coins earns additional cash bonuses as you continue to redeem promotions. Just present your Bank of America Customized Cash card and photo ID at participating partners, which include the Whitney Museum of American Art and the Liberty Science Center. If you redeem for a direct deposit to a bank account, it will take up to five business days. Check redemptions start at $25. the "Apply Now" button, you can review the credit card terms and conditions on the issuer's web site. The online shopping category consists of online and mobile app purchases made at a variety of retailers, such as bookstores, department stores, specialty retailers and sporting goods stores. The best Bank of America credit card with a $200 bonus offer is the Bank of America Customized Cash Rewards credit card. Wallethub doesnt charge for this service. Fees. Kelli Pate With no annual fee, youre only gaining from this lucrative card that lets you customize your bonus categories based on your lifestyle. Other factors, such as our proprietary website's rules and the likelihood of applicants' credit approval also impact how and where products appear on the site. That said, theres one potential deal-breaker that big spenders, in particular, should be aware of: The 3 percent and 2 percent bonus rates have a combined $2,500 quarterly spending cap. Log in to enroll Don't have a Bank of America checking account yet? This site is protected by reCAPTCHA and the GooglePrivacy Policy and Terms of Service apply. CreditCards.com is an independent, advertising-supported comparison service. This answer was first published on 05/04/21. The Bank of America Cash Rewards card allows customers to choose which categories line up best with their priorities. No annual fee and no expiration on rewards. How can one get a $200 welcome bonus for new cardholders of Bank of America Customized Cash Rewards for Students? Accuracy, independence and authority remain as key principles of our editorial guidelines. Earn Even More with Preferred Rewards - Members of Bank of America's Preferred Rewards program earn 25% to 75% more cash back on every purchase made with the Unlimited Cash Rewards card, depending on their rewards tier. To maximize your Bank of America Customized Cash Rewards, you must understand how you can take advantage of the various cash back options. The Bank of America Customized Cash card is whats called a tiered bonus category card, which means it offers boosted rewards rates on specific types of purchases. Earn 10% more Cash Rewards. Learn more about our advertising policy. The Bank of America Cash Rewards credit card recently introduced a new way for card members to earn rewards. Our experts have learned the ins and outs of credit card applications and policies so you dont have to. Everyday 1% earnings would shoot up to 1.75% at the Platinum Honors level with the 75% bonus. Privacy Policy. The following post has been sponsored by our partner, Bank of America. Best Bank of America Credit Cards With a $200 Bonus in 2022 Hire the best financial advisor for your needs. If you request a check, it will be mailed within 14 business days. Reasonable efforts are made Bank of America allows you to redeem for cash Both cash back and points cards You'll can redeem your Bank of America allows cardholders to redeem their rewards in cash, whether they have a cash back or a points credit card. See related: How to maximize the Bank of America Cash Rewards cards 3-percent bonus. All Rights Reserved. Alternative Bank of America Credit Card Bonuses. Very few cards on the market have rewards based on a quarterly calendar. Your credit cards journey is officially underway. @cdigiovanni20 05/04/21 This answer was first published on 05/04/21. If you also have a Preferred Rewards membership on an eligible card, youll be able to maximize your cash rewards with an extra bonus of 25%, 50% or 75% for the Gold, Platinum and Platinum Honors tiers, respectively. Heres what you need to know to decide whether this Bank of America card is a good fit for your wallet. on an eligible card, youll be able to maximize your cash rewards with an extra bonus of 25%, 50% or 75% for the Gold, Platinum and Platinum Honors tiers, respectively. So instead of earning 3 percent cash back from the choice category, Preferred Rewards customers can earn 3.75 to 5.25 percent back. For example, Ace Hardware, Menards, Bed Bath and Beyond, IKEA, Pottery Barn, Lowes, Sherwin-Williams, Williams-Sonoma and Trugreen are included in this category. The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. Our team is made up of diverse individuals with a wide range of expertise and complementary backgrounds. Introduction to the Bank of America Customized Cash Rewards Credit Card. Essential reads, delivered straight to your inbox. Every purchase you make using your card is categorized using a merchant category code (MCC). Since you can select a new 3-percent bonus category each month, a little planning ahead can help maximize your earning potential throughout the year. The $0 Liability Guarantee covers fraudulent transactions made by others using your account. Since 2004, CreditCards.com has worked to break down the barriers that stand between you and your perfect credit card. to maintain accurate information. Keep an eye on your inboxwell be sending over your first message soon. The cards annual fee is $0. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear within listing categories. Merchants that qualify for the home improvement/furnishings category include hardware stores, contractors, air conditioning and refrigeration repair shops, antique shops, carpet and upholstery cleaning services, lawn and garden supply stores, paint stores, household appliance stores, miscellaneous house furnishings specialty shops and more. It will remain the same until you decide to update it. Check will be payable only to the primary cardholder, not to joint or authorized users. With a 3%/2%/1% rewards scheme, you get to pick where you spend the most each quarter from gas, online shopping, dining, travel, drug stores or home improvements and furnishing. Purchases at grocery stores and wholesale clubs are rewarded with a 2% cash back, while all other purchases allow you to earn 1% cash back. Like many great rewards credit cards, this card comes with a sign-up bonus for new cardholders. Thats because the rewards add up even more if youre eligible for the Bank of America Preferred Rewards program. Message and data rates may apply. Card Rating is based on the opinion of TPG's editors and is not influenced by the card issuer. The Unlimited Cash Rewards card has no annual fee. Best Bank of America Credit Cards With a $200 Bonus in 2022, The Bank of America Customized Cash Rewards credit card offers $200 for spending $1,000 in the first 90 days. Statement credits will normally be applied to an existing balance with the highest APR. A dedicated team of CreditCards.com editors oversees the automated content production process from ideation to publication. Using your Bank of America cash rewards for a statement credit is one of the simplest options. What is the Bank of America Cash Rewards online shopping benefit? The Better Balance Rewards card from Bank of America offers $25 per quarter when you pay more than the minimum of your balance or pay it down completely each month. The Bank of America Customized Cash credit card offers a few other features worth mentioning. However, statement credits, checks and contributions into a 529 account do not qualify for automatic redemptions. The Bank of America Customized Cash Rewards card offers flexibility for those who want more control over their rewards categories. The good news is that, as a Visa Signature card, you do get some purchase protections, including extended warranty coverage, which doubles the manufacturers warranty for up to an extra year. The offers that appear on this site are from companies from which CreditCards.com receives compensation. To apply for this card, it is possible to make an appointment with the bank officer or directly apply online. See more Essential reads, delivered straight to your inbox. The application can be saved as a draft or filled out and filed later. For starters, new cardholders can earn a modest sign-up bonus of $200 in online cash rewards when they spend a manageable $1,000 on purchases in their first 90 days of account opening. Some rewards credit cards come with what we call a choose-your-own-adventure earnings structure, which gives you more control over your top bonus category. 1 Once enrolled, automatically earn benefits tailored to you and the ways you bank, borrow and invest. Once you have at least $25 in cash rewards, you can directly apply your rewards as a statement credit and the amount will be subtracted from your current balance. Enter your cell phone number and well send you a link to install the WalletHub app. Many of the credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. Superstores and smaller stores that sell groceries, such as drug stores and convenience stores, do not earn the bonus rate. Redeeming cash rewards for a statement credit will take around three business days. Merchants that provide non-retail services, such as doctors and hospitals, government services and taxes, insurance, membership organizations, schools and utilities are excluded from the category. There is a minimum redemption amount of $25 for contributions to a qualifying 529 account with Merrill Lynch or Merrill Edge or a for a check. How to Redeem Your Bank of America Cash Rewards Online. If you spend $1,000 in the first 90 days, you earn $200 in online cash rewards. We are committed to being fully transparent with our readers. The regular APR is in the range of 16.99%-26.99%. The information, including card rates and fees, presented in the review is accurate as of the date of the review. The balance transfer fee is 3%, not less than $10. All other purchases earn unlimited 1 percent cash back. Plus, you can earn 3% cash back in a category of your choice and 2% back at grocery stores and wholesale clubs (up to $2,500 spent quarterly), plus unlimited 1% cash back on all other purchases. Plus, you can earn 1 - 3% cash back on purchases. If you apply for a credit card, the lender may use a different credit score when considering your application for credit. Is the Bank of America Customized Cash Rewards credit card worth it? The card supports contactless payment technology, digital wallets, and safe online and offline payments. For example, November and December are great months to select the online shopping category and earn a 3-percent bonus on Black Friday and Cyber Monday shopping. The key benefits of the Bank of America Customized Cash Rewards for Students credit cards are the following: zero liability if the bank suspects fraudulent activity. From industry experts to data analysts and, of course, credit card users, were well-positioned to give you the best advice and up-to-date information about the credit card universe. The card comes with a $0 annual fee and it requires excellent credit for approval. Open an account To qualify, youll need a credit score of 670 or higher. Youll also have access to BankAmeriDeals, a card-linked offer program that can help you earn extra cash back in some cases up to 15 percent on eligible purchases at select restaurants and other retailers, without having to use a promo code or coupon. Let's explore the borrowing features of the Bank of America Unlimited Cash Rewards Secured so you can decide whether it's the right card for you. Bank of America will notify you within 15 days of any rejected deposits. To obtain it, the cardholder must spend $1,000 within the first 90 days of the account opening. WalletHub is not a financial advisor, law firm, lawyer referral service, or a substitute for a financial advisor, attorney, or law firm. The Bank of America Customized Cash Rewards credit card does have other perks, though, such as 3% cash back in one choice category and 2% cash back at grocery stores and wholesale clubs. The no-annual-fee Bank of America Cash credit card is pretty light on extras. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. Our team is made up of diverse individuals with a wide range of expertise and complementary backgrounds. How can I redeem my Bank of America cash rewards? Read on for what you need to know about the Bank of America Cash Rewards credit cards 3-percent bonus, including how to choose a category and what purchases qualify for the bonus. This card offers $200 for spending $1,000 in the first 90 days after opening the account. You can redeem your cash rewards for statement credit, direct deposit to a BofA/Merrill Lynch account, or a personal check. The analysis and opinions in the story are our own and may not reflect the views of Bank of America. The Bank of America Customized Cash Rewards Credit Card for Students offers $200 for spending $1,000 in the first 90 days. This site does not include all credit card companies or all available credit card offers. The Bank of America Customized Cash Rewards credit card provides just that: The ability to pick a cash back bonus category from a list of six options. Many people choose to product change another Bank of America card into a BBR card. Not limited to Bank of America checking or savings accounts. CreditCards.com credit ranges are derived from FICO Score 8, which is one of many different types of credit scores. See what purchases qualify for bonus spend categories below. 1% unlimited cash back on all other purchases Earn 3% and 2% cash back on up to $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1% . Note, however, that youll have to pay either a $10 or 3 percent balance transfer fee, whichever is greater, and request the transfer within the first 60 days. ADVERTISER DISCLOSURE CreditCards.com is an independent, advertising-supported comparison service. Regardless of which category you pick, you can earn 3% cash back and furthermore, this credit card is a fantastic everyday card, thanks to its 2% rewards rate at grocery stores and wholesale clubs (3% and 2% applies to the first $2,500 in combined choice category/grocery/wholesale club purchases spent each quarter; then 1%). 2.5% (25% bonus) 3% (50% bonus) 3.5% (75% bonus) Platinum Honors members with $100,000+ deposited in eligible BoA accounts would see the Cash Rewards card bonus earnings top out at about $130 a quarter with the 75% bonus. The Bank of America Customized Cash Rewards Secured credit card gives access to the bank's rewards program that lets you earn cash back for making purchases. Editorial integrity is central to every article we publish. After that, youll earn just 1 percent cash back on purchases that fall within those categories. Bank of America Preferred Rewards program, Best credit cards with customizable rewards. Please view our advertising policy page for more information. Tracy Kerscher-Brackman Upon receiving your card, you will have to activate it on your Bank of America mobile banking app, on Bank of Americas credit card activation website or by calling the number on the back of the credit card. The Bank of America content was last updated on March8, 2021. Members of Bank of America's Preferred Rewards for Business program earn 25% to 75% more cash back on every purchase made with the Business Advantage Unlimited Cash Rewards card, depending on their rewards tier - that means the unlimited 1.5% cash back earned on all purchases could go up to 2.62% cash back. Bank of America Cash Rewards Have the BofA Visa which they converted me to when they took over the Schwab Visa which gave 2% cash back on everything. 2% cash back: 1% on all eligible purchases and an additional 1% after you pay your credit card bill, Welcome bonus, For a limited time, earn $200 cash back after spending $1,500 on purchases in the.Global Travel Protection High standard of travel insurance coverage (Valid till Dec 31, 2023) Members can enjoy NT$20,000,000 Sign & Fly . In addition, it is not any companys responsibility to ensure all questions are answered. ADVERTISER DISCLOSURE CreditCards.com is an independent, advertising-supported comparison service. If you are a Bank of America Preferred Rewards client, you will receive a 25- to 75-percent rewards bonus on every purchase. The top category gives the highest bonus of 3%. Every day, we strive to bring you peace-of-mind as you work toward your financial goals. 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