Are you on the lookout for a credit card that not only offers attractive rewards but also puts you in control of where you earn them? The Bank of America® Customized Cash Rewards Credit Card is the only option you need to consider.

In this comprehensive guide, we’ll delve into the card’s key features, qualification requirements, benefits, pros and cons, advantages, the application process, and ultimately answer the question: Is it worth it?

Key Information about the Card

• 3% cash back in the category of your choice: Choose from a variety of categories, including gas and EV charging stations, online shopping, dining, travel, drug stores and pharmacies, or home improvement and furnishings. The first $2,500 in total purchases made in the selected category each quarter are eligible for the 3% cash back.
• Automatic 2% cash back at grocery stores and wholesale clubs: Enjoy a hassle-free 2% cash back on your grocery store and wholesale club purchases.
• Unlimited 1% cash back on all other purchases: Earn a consistent 1% cash back on all other purchases, providing a baseline of rewards.
• $200 online cash rewards bonus offer: Receive a $200 online cash rewards bonus after making at least $1,000 in purchases within the first 90 days of account opening.
• No annual fee: Maximize your cash back without worrying about an annual fee.
• Low introductory APR offer:: Benefit from a 0% Intro APR for the first 15 billing cycles on purchases and balance transfers made within the first 60 days.
• Preferred rewards boost: Preferred Rewards members can earn 25%-75% more cash back on every purchase, enhancing the overall rewards potential.

Qualification Requirements

The Bank of America® Customized Cash Rewards Credit Card often requires applicants to have a decent to outstanding credit score in order to be approved. Meeting income and other financial criteria may also be considered during the application process.

Benefits of the Card

• Customizable Rewards: Tailor your rewards to match your spending habits by choosing the category where you earn 3% cash back.
• Generous Introductory Offer: The $200 online cash rewards bonus and 0% Intro APR provide an excellent incentive for new cardholders.
• No Annual Fee: Enjoy the perks of cash back without the burden of an annual fee.
• Preferred Rewards Boost: Preferred Rewards members can significantly increase their cash back earnings, making this card even more lucrative.

Pros and Cons

Pros:

• Flexible rewards: Choose where you earn the most cash back based on your lifestyle.
• No annual fee: Enjoy the benefits of a rewards card without the cost of an annual fee.
• Introductory offer: The $200 online cash rewards bonus and 0% Intro APR provide immediate value.

Cons:

• Quarterly limit: The 3% and 2% cash back apply only to the first $2,500 in combined purchases each quarter in the chosen category, and at grocery stores and wholesale clubs.
• Variable APR: After the introductory period, the APR becomes variable, so it’s crucial to manage balances responsibly.

Advantages

• Cash back control: Have control over where you earn the most rewards by selecting your preferred category.
• Enhanced rewards for preferred members: Preferred Rewards members can significantly boost their cash back, providing an extra layer of benefit.
• Variety of categories: The diverse range of categories for 3% cash back allows you to customize rewards based on your spending patterns.

How to Apply

The Bank of America® Customized Cash Rewards Credit Card application process is simple. You can take advantage of the online-only offer by visiting the official website. Remember that this offer might not be available through other channels, such as Bank of America financial centers or phone calls.

Is the Card Worth It?

The Bank of America® Customized Cash Rewards Credit Card is undoubtedly a strong contender in the rewards card landscape. With customizable cash back categories, a generous introductory offer, and the potential for increased rewards through Preferred Rewards, it caters to a wide range of consumers.

However, it’s essential to weigh the pros and cons, considering factors such as the quarterly limits on bonus categories and the variable APR after the introductory period. If you can strategically maximize the rewards and manage your balances responsibly, this card can certainly be a valuable addition to your wallet.

In conclusion, the Bank of America® Customized Cash Rewards Credit Card presents a compelling option for those seeking flexibility and rewards customization. As with any financial decision, it’s crucial to assess your individual spending habits and financial goals to determine if this card aligns with your needs.