This Bank of America Card Offers 6% Cash Back and a $200 Bonus
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On most cash back credit cards, a 3% return in a given category is pretty much the best you'll find. But right now, there's a Bank of America card offering twice that -- at least for your first year.
With the Bank of America® Customized Cash Rewards credit card, you'll earn 6% cash back for the first year in the category of your choice, then 3% cash back after the first year from account opening in your choice category. That means if you spent $5,000 in your chosen category, you could earn a whopping $300 in cash back in your first year.
Here's what to know about the Bank of America® Customized Cash Rewards credit card and why now's the time to apply.
Get 6% cash back in a chosen category and much more
The Bank of America® Customized Cash Rewards credit card comes with the following earning rates:
- 6% cash back for the first year in the category of your choice
- 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases
- Unlimited 1% cash back on all other purchases
You'll want to know that the elevated earning rates do have a spending cap: The rates apply up to $2,500 in combined purchases each quarter in the choice category. After that, you'll earn an unlimited 1% cash back on everything.
That means if you spent, say, $1,500 in your choice category and $1,000 at grocery stores, you'd hit the cap and earn 1% on all purchases for the rest of the quarter.
After your first year, the same earning rates and quarterly caps apply -- except you'll get 3% in your chosen category, not 6%.
Wondering what's on the list of choice categories? Of course you are. You can choose from:
- Dining
- Travel
- Online shopping, streaming, cable, internet, and phone plans
- Gas and EV charging stations
- Drugstores and pharmacies
- Home improvement and furnishings
With the Bank of America® Customized Cash Rewards credit card, you can also change your bonus category every month, with your previous selection rolling over if you don't make a switch.
The welcome bonus is worth mentioning, too: New cardholders can earn a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
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Earn 6% cash back in the category of your choice -- like dining, travel, or online shopping -- for the first year. Plus, score a $200 cash rewards bonus after qualifying purchases.
Good/Excellent (670-850)
Intro APR 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 17.74% - 27.74% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%. Balance transfers may not be used to pay any account provided by Bank of America.
Purchases: 0% Intro APR for 15 billing cycles for purchases
Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
Regular APR
17.74% - 27.74% (Variable)
Rewards Earn 6% cash back for the first year in the category of your choice: gas and EV charging stations; online shopping, including cable, internet, phone plans and streaming; dining; travel; drug stores and pharmacies; or home improvement and furnishings. You’ll automatically earn 2% cash back at grocery stores and wholesale clubs, and unlimited 1% cash back on all other purchases. After the first year from account opening, you’ll earn 3% cash back on purchases in your choice category. Earn 6% and 2% cash back on the first $2,500 in combined purchases each quarter in the choice category, and at grocery stores and wholesale clubs, then earn unlimited 1% thereafter. After the 3% first-year bonus offer ends, you will earn 3% and 2% cash back on these purchases up to the quarterly maximum.
1% - 6% cash back
Annual Fee
$0
Welcome Offer $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
$200 cash back
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This card's wide range of extra cash back options speaks for itself, with a choice of six bonus categories you can change monthly for 6% earnings for the first year in the category of your choice. And you can earn 2% back automatically at grocery stores and wholesale clubs. No annual fee and a nice welcome bonus also make this one a winner. Plus, if you're a Bank of America Preferred Rewards member, this card will be even more valuable for you.
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- Competitive welcome bonus
- Bonus cash back in a category of your choice
- No annual fee
- Great intro & transfer APR offer
- Relationship rewards bonus
- Foreign transaction fee
- Limit on bonus cash back
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- Earn 6% cash back for the first year in the category of your choice: gas and EV charging stations; online shopping, including cable, internet, phone plans and streaming; dining; travel; drug stores and pharmacies; or home improvement and furnishings. You’ll automatically earn 2% cash back at grocery stores and wholesale clubs, and unlimited 1% cash back on all other purchases. After the first year from account opening, you’ll earn 3% cash back on purchases in your choice category.
- Earn 6% and 2% cash back on the first $2,500 in combined purchases each quarter in the choice category, and at grocery stores and wholesale clubs, then earn unlimited 1% thereafter. After the 3% first-year bonus offer ends, you will earn 3% and 2% cash back on these purchases up to the quarterly maximum.
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- With the Bank of America Preferred Rewards® program, members can earn 25%-75% more cash back on every purchase. That means the 3% choice category could go up to 3.75%-5.25%. The Preferred Rewards bonus is not applied to the 3% first-year bonus.
- No annual fee and cash rewards don’t expire as long as your account remains open.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 17.74% - 27.74% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%. Balance transfers may not be used to pay any account provided by Bank of America.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Unlock more value as a Preferred Rewards member
If you're a Bank of America Preferred Rewards® member, did you know you can supercharge your earnings with the Bank of America® Customized Cash Rewards credit card? Depending on your banking tier (i.e., how much you have saved with Bank of America), you can get:
- A boost on your 3% category to 3.75%-5.25%
- A boost on your 2% at grocery stores and wholesale clubs to 2.50%-3.50%
- A boost on your 1% on all other purchases to 1.25%-1.75%
Unfortunately, the Preferred Rewards bonus doesn't apply to the 3% first-year bonus. Still, if you're a Bank of America member looking for easy cash back, it's pretty hard to beat the Bank of America® Customized Cash Rewards credit card.
Ready to earn 6% cash back for the first year in the category of your choice? Check out our full review of the Bank of America® Customized Cash Rewards credit card and apply today.
Our Research Expert
Ryan Wilcox is a full-time Personal Finance Writer at Motley Fool Money, covering credit cards, bank accounts, investing, auto insurance, and other personal finance topics. Ryan has been writing about credit cards and savings since 2022. Before joining Motley Fool Money, he was a full-time writer at The Points Guy, where he focused on maximizing credit card rewards and travel strategies. He holds a bachelor’s degree in English and American History from the University of North Carolina at Chapel Hill, where he also spent four years reporting for The Daily Tar Heel. With a background in both journalism and consumer finance, he brings a clear and thoughtful voice to money topics. Outside of work, Ryan is likely reading, writing, or updating his Letterboxd account.