The Bank of America Customized Cash Rewards Card remains a strong choice in 2025. This Bank of America Cash Rewards review highlights its flexibility, cashback benefits, and competitive offers.
The card is designed for consumers who want to earn rewards in categories that match their spending. With no annual fee and a valuable welcome bonus, it stands out among popular cashback credit cards.
Key Features Overview
Understanding the main features helps you see what makes this card appealing. The card balances strong cashback rates, flexible categories, and added perks.
You receive a first-year bonus of 6% cash back in your chosen category, capped at $2,500 per quarter. The $200 online cash rewards bonus comes after spending $1,000 in the first 90 days.
Rewards continue with 3% in your category, 2% at grocery and wholesale clubs, and 1% on other purchases. No annual fee and the freedom to switch categories monthly add to its appeal.
Reward Structure Explained
The reward system is flexible, making it suitable for varied spending habits. Here’s how the cashback is structured.
How the 6% First-Year Bonus Works?
You can choose categories like gas, online shopping, dining, travel, drugstores, or home improvement. During the first year, you earn 6% on your chosen category up to $2,500 per quarter.
Grocery stores and wholesale clubs automatically earn 2%. All other purchases earn 1% with no limit.
Standard Rewards After Year One
Once the bonus year ends, the chosen category earns 3%. Grocery and wholesale club spending stays at 2%. All other purchases remain at 1%. The quarterly cap still applies, ensuring balance across categories.
Bank of America Preferred Rewards Boost
If you are a Preferred Rewards member, you earn 25% to 75% more. This applies to all cashback earnings except the first-year bonus.
The boost is tied to your qualifying balances with Bank of America or Merrill accounts. This benefit can make your effective cashback much higher than standard rates.
Redemption Options
Redeeming rewards is straightforward and gives you several choices. The options are designed for flexibility.
- Direct Deposit: Transfer rewards into your Bank of America checking or savings account.
- Statement Credit: Apply rewards to reduce your credit card balance.
- Checks or Gift Cards: Choose mailed rewards if you prefer tangible options.
- Online Redemption: Easily redeem through the online portal or mobile app.
Each redemption method comes without expiration as long as your account remains open.
Introductory and Standard APR
Knowing the APR structure is essential before applying. This section explains the differences between intro and standard rates.
Introductory APR
You receive 0% APR for 15 billing cycles on purchases and qualifying balance transfers. The intro balance transfer fee is 3% if completed within 60 days. This gives you time to manage balances or new purchases without interest.
Standard APR After Intro Period
After the intro ends, the variable APR ranges between 18.24% and 28.24%. The actual rate depends on your creditworthiness.
Carrying balances long-term can be costly due to the higher interest. Paying on time and in full is the best way to avoid these charges.
Balance Transfer Fee After Intro
Once the first 60 days pass, the balance transfer fee rises to 4%. This is applied to all future transfers.
Balance transfers cannot be used to pay existing Bank of America accounts. It’s a useful feature only if used strategically within the intro window.
Fees and Costs
Evaluating fees ensures you know the full cost of the card. These are the main details to consider.
- Annual Fee: $0, making it attractive for cost-conscious users.
- Balance Transfer Fee: 3% during intro, then 4% afterward.
- Foreign Transaction Fee: 3% applies to transactions abroad.
- Penalty Fees: Late or returned payments may incur up to $40.
With no annual fee and manageable costs, the card remains budget-friendly.
Security and Card Features
The card provides a set of features that increase protection and convenience. These benefits are valuable for everyday use.
- Fraud Protection: Zero liability for unauthorized transactions.
- Contactless Chip Technology: Tap to pay quickly and securely.
- Digital Wallet Compatibility: Works with Apple Pay, Google Pay, and Samsung Pay.
- Paperless Statements: Safer delivery with less paper clutter.
- Account Alerts: Notifications for due dates, balances, and payments.
- FICO® Score Access: Free monthly credit score updates.
These features make managing your card both safer and easier.
Pros and Cons
Evaluating strengths and weaknesses helps you decide if this card fits your needs.
Advantages
The card offers strong rewards without charging an annual fee. You can customize your cashback categories monthly.
The first-year 6% bonus and $200 sign-up offer give immediate value. Bank of America customers also get extra cashback through Preferred Rewards.
Limitations
The $2,500 quarterly cap can limit earnings for high spenders. The APR after the intro period is relatively high. Foreign transaction fees make it less ideal for frequent travelers. Balance transfer fees increase after 60 days, reducing flexibility.
Who Should Apply?
This card is best for certain spending profiles. Here’s who benefits most.
It works well for individuals who want cashback flexibility. Bank of America customers gain extra rewards with Preferred Rewards membership.
People planning significant purchases in the first year benefit from the 6% bonus. However, if you travel abroad often or carry balances, another card may be more suitable.
Application Process
Applying is simple and can be done online or by phone. Knowing what’s required helps you prepare.
- Online Application: Fill out the form on the Bank of America site.
- Phone Application: Call 800.932.2775 using priority code TC039U.
- Required Information: Provide income, employment, and housing details.
- Credit Score Needs: A good to excellent score increases approval chances.
The process is fast, and decisions are usually provided quickly.
Contact and Support
Support channels are available if you need help with the application or account.
- Apply Online: Visit the Bank of America official site.
- Phone Support: Call 800.932.2775.
- Priority Code: Use TC039U for this offer.
- Banking Tools: Access services through Online and Mobile Banking apps.
You can manage your card, pay bills, and track rewards through these channels.
Conclusion – Why This Card Stands Out in 2025
The Bank of America Customized Cash Rewards Card remains a reliable option for earning cash back. Its flexible categories, $200 bonus, and no annual fee create a strong appeal.
While caps and foreign transaction fees are drawbacks, it still provides excellent value for most users. This makes it one of the top cashback cards to consider in 2025.
Disclaimer: It’s important to review the conditions before applying. These disclaimers affect rewards and fees.
