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Not all cash back cards are created equal, and the Bank of America® Customized Cash Rewards credit card proves it. Unlike most cards that lock you into fixed bonus categories, this one lets you pick where you earn the most cash back. That's a game-changer for anyone who likes a little more control over their rewards.
But there's a catch: spending caps could limit your earnings. Here's what you need to know to decide if this card is the right fit for your wallet.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Credit Score:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Credit Score
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Good/Excellent (670-850)
Intro APR
0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers. 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
18.24% - 28.24% (Variable)
Rewards
3% cash back in the category of your choice, 2% at at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases, 1% on all other purchases.
1% - 3% 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
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 3% earnings 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.
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
$200 online cash rewards bonus after you make at least $1,000 in purchases in the 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.
Choose 3% cash back on gas and EV charging station, online shopping/cable/internet/phone plan/streaming, dining, travel, drug store/pharmacy or home improvement/furnishings purchases.
If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.
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 18.24% - 28.24% 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.
At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates and 0% intro APR offers, welcome bonuses, fees, and perks like travel credits and purchase protections.
Our highest-rated credit cards have:
High value through rewards or 0% intro APR offers
Attainable welcome bonuses that make up for any annual fees
Low annual fees or a balance transfer fee of 3%
Top perks such as purchase and travel protections, no foreign transaction fees, travel credits, and status upgrades
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best credit card recommendations. Our aim is to maintain a balanced best-of list featuring top-scoring credit cards from reputable brands. 'Best for' category selections on this page are determined by our editors, and a single card may be recognized in multiple categories.
Ordering within lists is influenced by advertiser compensation, including featured placements at the top of a given list, but our product recommendations are NEVER influenced by advertisers. Learn more about how Motley Fool Money rates credit cards.
At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates and 0% intro APR offers, welcome bonuses, fees, and perks like travel credits and purchase protections.
Our highest-rated credit cards have:
High value through rewards or 0% intro APR offers
Attainable welcome bonuses that make up for any annual fees
Low annual fees or a balance transfer fee of 3%
Top perks such as purchase and travel protections, no foreign transaction fees, travel credits, and status upgrades
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best credit card recommendations. Our aim is to maintain a balanced best-of list featuring top-scoring credit cards from reputable brands. 'Best for' category selections on this page are determined by our editors, and a single card may be recognized in multiple categories.
Ordering within lists is influenced by advertiser compensation, including featured placements at the top of a given list, but our product recommendations are NEVER influenced by advertisers. Learn more about how Motley Fool Money rates credit cards.
What I like about Bank of America Customized Cash Rewards
Choose your own bonus category
This card gives you 3% cash back in the category of your choice (out of six options), 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases, and 1% cash back on all other purchases. The best part? You can switch your 3% category every month to fit your spending habits. Your options include:
Gas and EV charging stations
Online shopping, including cable, internet, phone plans and streaming services. (This includes Amazon, Target, Walmart, Macy's, and more).
Dining
Travel
Drug stores and pharmacies
Home improvement and furnishings
That means if you're planning a big trip, you can set your 3% category to Travel for the month. Tackling a home renovation next? Switch it to Home Improvement. The flexibility here is rare among cash back cards.
Even better rewards for Bank of America Preferred Rewards members
Here's where things get even more interesting. If you're a Bank of America Preferred Rewards member (meaning you have at least $20,000 saved or invested with Bank of America or Merrill Lynch), your cash back rates get a serious boost. Depending on your tier, you can get 25% to 75% more rewards.
Bank of America Customized Cash Rewards status
Rewards Bonus
Rewards Rate on Rotating Categories
Rewards Rate on Groceries and Wholesale Spending
Rewards Rate on Everything Else
None (no accounts, or combined balances below $20,000)
None
3%
2%
1%
Gold (at least a $20,000 combined balance)
25%
3.75%
2.5%
1.25%
Platinum (at least a $50,000 combined balance)
50%
4.5%
3%
1.5%
Platinum Honors (at least a $100,000 combined balance)
75%
5.25%
3.5%
1.75%
Data source: Bank of America. Calculations by author.
If you're already banking or investing with Bank of America, this card goes from good to great.
Attainable welcome offer
This is one of the easiest to attain welcome offers out there -- earn a $200 cash back bonus for spending $1,000 in the first 90 days of having the card. Spending $1,000 in 90 days isn't exactly a tall order, and that's all it takes. That's a solid return for a card with no annual fee, especially if you were planning to put everyday purchases on it anyway.
No annual fee + 0% intro APR = solid perks
This card keeps things simple with no annual fee and a 0% intro APR on purchases and balance transfers for 15 billing cycles. The go-to 18.24% - 28.24% (Variable) applies at the end of the intro period. That gives you a solid window to pay off purchases or tackle existing credit card debt without racking up interest. While these perks are fairly standard for cash back cards, they're still nice to have.
Credit card comparison
We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Best for cash back on rotating categories
Discover will match all the cash back you’ve earned at the end of your first year.
INTRO OFFER: Unlimited Cashback Match for all new cardmembers–only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
1% - 5% Cashback
Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Best for cash rewards on everyday spending
$200 cash rewards
Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
2% cash rewards
Earn unlimited 2% cash rewards on purchases.
Intro:
0% intro APR for 12 months from account opening on purchases and qualifying balance transfers
Purchases: 0% intro APR, 12 months from account opening
Balance Transfers: 0% intro APR, 12 months from account opening on qualifying balance transfers
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Best for unlimited rewards on purchases
25,000 points
25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases
1.5-3 points per dollar
Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire as long as your account remains open. Earn 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center.
Intro:
0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers. 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
Here's the biggest drawback: There's a quarterly spending cap of $2,500 across all 2% and 3% categories. That's about $834 per month, or $10,000 per year. If you're a big spender who wants unlimited high cash back rates, this could be frustrating. In that case, a flat-rate card like the Wells Fargo Active Cash® Card, which offers 2% unlimited cash rewards, might be a better fit.
That said, even if you hit the cap, you'll still earn 1% on purchases, so it's not a total loss.
If you're not a Preferred Rewards member, the rates are just okay
As I mentioned above, for Bank of America customers in the Preferred Rewards program, this card is solid. But if you're not? The standard 3% cash back rate is decent, but it falls short of the 5% you could get on rotating bonus categories (once activated) with similar no annual fee cards like Discover it® Cash Back or Chase Freedom Flex®. Quarterly spending caps apply.
Is the Bank of America Customized Cash Rewards card right for you?
This card is a no-brainer if you're a Bank of America customer who can qualify for the higher rewards rates through Preferred Rewards. Moving your savings or investments there could unlock some of the best cash back rates available on a no annual fee card. Even if you're not at that level yet, the ability to pick your own bonus category each month makes it a flexible choice.
But if you're after unlimited high cash back or you don't bank with Bank of America, you might want to keep browsing other credit cards.
This card offers 3% cash back in the category of your choice, 2% at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases, and 1% on all other purchases. You can change your 3% category monthly.
The 3% and 2% cash back categories have a combined spending cap of $2,500 per quarter. After that, purchases earn just 1% back.
You can change your 3% category once per month through your online account or the Bank of America mobile app. If you don't change it, your previous selection stays in place.
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Discover Financial Services is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Wells Fargo is an advertising partner of Motley Fool Money. Citigroup is an advertising partner of Motley Fool Money. Brendan Byrnes has positions in Amazon and Wells Fargo. The Motley Fool has positions in and recommends Amazon, Bank of America, JPMorgan Chase, PayPal, Target, Visa, and Walmart. The Motley Fool recommends Discover Financial Services and recommends the following options: long January 2027 $42.50 calls on PayPal and short June 2025 $77.50 calls on PayPal. The Motley Fool has a disclosure policy.
The Motley Fool owns shares of and recommends Visa.
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