Bank of America Customized Cash Rewards – How to Apply

By Raquel Oliveira • 03/03/2025

Bank of America Customized Cash Rewards offers Ability to choose a 3% cashback category.

The Bank of America Customized Credit Card is an excellent choice for those seeking flexible rewards. It allows users to select a category for 3% cashback, ensuring maximum savings on purchases that match their lifestyle.

In addition to the customizable cashback, cardholders earn 2% on grocery store and wholesale club purchases. All other transactions earn 1%, making this a well-rounded option for maximizing everyday spending rewards.

One of its standout features is the absence of an annual fee, allowing users to enjoy cashback benefits without extra costs. New cardholders can also qualify for a $200 bonus after meeting the spending requirement.

This article explores how the card works, its main benefits, potential drawbacks, fee structure, and the application process, helping you determine if it aligns with your financial needs and shopping habits.

How does Bank of America Customized Cash Rewards work?

The Bank of America Customized credit card is designed to let users choose a 3% cashback category. This feature makes it unique, as cardholders can select a category that best suits their spending habits and financial needs.

The available 3% categories include gas, online shopping, dining, travel, drug stores, and home improvement. Users are allowed to switch their category once per month, ensuring they always maximize rewards in the right areas.

Additionally, the card provides 2% cashback on purchases at grocery stores and wholesale clubs. Since food expenses make up a significant part of most budgets, this feature is especially beneficial for families and frequent shoppers.

All other purchases automatically earn 1% cashback, ensuring that cardholders are always receiving some form of reward, no matter where they shop. There is no need to track points, as cashback is credited automatically.

Main benefits for the Bank of America Customized Cash Rewards

• Ability to choose a 3% cashback category, allowing users to adjust rewards based on monthly spending habits and financial goals.
• Automatic 2% cashback at grocery stores and wholesale clubs, making it ideal for individuals and families who frequently buy household essentials.
• No annual fee, providing long-term value by allowing cardholders to enjoy rewards without worrying about paying a yearly charge to maintain the card.
• A $200 bonus for new users who spend $1,000 within the first 90 days, giving cardholders an easy way to earn extra cashback early on.

Cons for the Bank of America Customized Cash Rewards

While the Bank of America Customized Cash Rewards Credit Card offers excellent rewards and flexibility, there are a few drawbacks to consider. 

One of the main cons is that the 3% cash back is limited to one category. If you spend in multiple categories, you may not earn as much as you would with a card that offers higher rewards in more categories.

Another downside is the relatively high APR after the introductory period ends. While the intro APR is a great perk, the card’s regular APR can be costly if you carry a balance from month to month.

To avoid interest charges, it’s important to pay off your balance in full each month. The card also charges a 3% foreign transaction fee, making it less ideal for international travel.

APR and Fees

Understanding the costs associated with the Bank of America Customized credit card is essential for managing finances and ensuring that rewards outweigh potential fees.

• Late payments can result in additional penalty APR charges and fees, emphasizing the importance of making on-time payments to avoid extra costs.
• A 0% introductory APR applies for 15 billing cycles on both purchases and balance transfers, making it a good option for those needing short-term financing.
• After the introductory period, the APR becomes variable, ranging from 18.49% to 28.49%, depending on the cardholder’s creditworthiness and financial history.
• Balance transfers have a 3% fee if completed within 60 days of account opening, increasing to 4% for any transfers made after the initial promotional period.

How to Apply for the Bank of America Customized Cash Rewards

Applying for the Bank of Americ Customized Cash Rewards Credit Card is simple. You can apply online by providing your personal and financial information. 

Once approved, you can start earning 3% cash back in your chosen category and enjoy the benefits of the sign-up bonus and 0% intro APR for the first 15 billing cycles. 

With no annual fee, this card offers great value for anyone looking to maximize their rewards on everyday purchases.

Who Should Apply for the Bank of America Customized Credit Card?

The Bank of America Customized credit card is ideal for individuals who want a flexible cashback system that allows them to choose their rewards category each month based on changing spending habits.

It is a strong option for those who frequently shop at grocery stores and wholesale clubs, as the 2% cashback ensures consistent savings on food and household essentials.

Additionally, the card is well-suited for budget-conscious users who prefer a no-annual-fee credit card that still provides valuable rewards and a welcome bonus.

However, individuals who want higher fixed cashback rates without quarterly spending caps or more diverse category options may find other cashback credit cards more beneficial.

Final Considerations

The Bank of America Customized credit card provides strong cashback rewards, flexible category selection, and no annual fee, making it a compelling option for individuals who want to earn cashback on their everyday purchases.

While the $2,500 quarterly cap on 3% and 2% earnings may limit high spenders, the ability to adjust the cashback category ensures it remains adaptable to different spending needs.

Before applying, consider whether the available categories and cashback limits align with your spending habits, ensuring that the card provides long-term financial value and benefits.