Bank of America® Customized Cash Rewards credit card review: Unique rewards flexibility, but watch your spending
You know your spending habits the best, so this card puts you in the driver’s seat when it comes to your highest earnings.
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Snapshot
3.8
Bottom line
The Bank of America® Customized Cash Rewards is more flexible than most rewards cards since it lets you pick your own top bonus rewards category — then change it once each calendar month if you desire. You also pay a $0 annual fee, and you can qualify for a 0% APR offer for a limited time. (Balance transfers may not be used to pay any account provided by Bank of America.). On the downside, bonus rewards caps limit the cash back potential of this card every quarter (and each year) of card membership.
Best for wholesale clubs
Intro offer
$200
Rewards rate
1% - 6%
Annual fee
$0
Regular APR
18.24% - 28.24% Variable APR on purchases and balance transfers
4.4
Cardholder rating
Extra perks
Online tools
Rewards value
Customer service
3.8
Bankrate score
Rewards value
APR
Rewards flexibility
Features
Why you'll like this: On top of the rare wholesale club and grocery store rewards, you can choose a competitive rewards category each month to suit your spending outside grocery and wholesale stores, including gas, online shopping and more.
Reward Details
Card Details
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Bank of America® Customized Cash Rewards overview
If you want to maximize rewards throughout the year and you like the idea of picking your top bonus rewards category yourself, you're in luck. The Bank of America® Customized Cash Rewards is one of the few cash back credit cards that lets you decide which category earns the most rewards.
You can also switch your choice once per calendar month, a feature that offers great flexibility and makes it easier to adjust to big purchases and unexpected expenses. Coupled with the card’s boosted cash back rate at grocery stores and wholesale clubs, choice categories can help you rake in plenty of earnings.
That said, your boosted cash back categories share a $2,500 spending limit on combined purchases per quarter, after which your rewards rate drops to just 1 percent cash back. This quarterly cap is more flexible than spending caps on other cash back cards, but it can be limiting for big spenders.
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Rewards
- 6 percent cash back for the first year in the category of your choice
- 3 percent cash back after the first year from account opening on category purchases of choice, including gas (plus electric vehicle charging stations), online shopping (plus cable, streaming, internet and phone services), dining, travel, drugstore or home improvement and furnishings
- 2 percent cash back at grocery stores and wholesale clubs
- Spending cap: up to $2,500 of combined 6 and 2 percent category purchases each quarter, then 1 percent for the first year. After that, you will earn 3 and 2 percent cash back on these purchases up to the quarterly maximum.
Expert Appraisal: Good
See our expert analysis -
Welcome offer
- $200 online cash rewards after spending $1,000 within the first 90 days of account opening
Expert Appraisal: Typical
See our expert analysis -
0% APR offer
- 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 18.24% - 28.24% Variable APR on purchases and balance transfers will apply. There is an intro balance transfer fee of 3% for 60 days from account opening, then 4%. Balance transfers may not be used to pay any account provided by Bank of America.
Expert Appraisal: Good
See our expert analysis -
Rates and fees
- $0 annual fee
- 3 percent foreign transaction fee
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18.24% - 28.24% Variable APR on purchases and balance transfers
Expert Appraisal: Typical
See our expert analysis -
Other cardholder perks
- Enhanced rewards for Bank of America Preferred Rewards® members
- Free FICO score
- Contactless chip technology
- Visa Signature benefits including Visa Signature® Concierge, roadside dispatch and travel and emergency assistance
Expert Appraisal: Typical
See our expert analysis
Bank of America® Customized Cash Rewards credit card pros and cons
Pros
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You can change your highest-earning category once per calendar month to maximize rewards on different types of spending.
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Bank of America Preferred Rewards® members can earn up to 75 percent more cash back on all purchases depending on their tier of membership.
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The card offers a generous intro APR period on purchases and balance transfers, so it's a great fit if you need to finance a purchase or pay off debt.
Cons
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Cash back potential is severely limited by the quarterly spending cap.
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Rival cards have potentially higher welcome offers, lower minimum spending requirements or both.
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This card has few noteworthy benefits other than the rewards program itself.
First-year value vs. ongoing value
The difference between the Customized Cash Rewards card's first-year value and ongoing value can be significant. For the first year, your top bonus category will earn 6 percent cash back (with a shared spending cap of $2,500 between your 6 percent and 2 percent categories). If you max out your 6 percent category, you could potentially earn $600 in rewards your first year — on top of your sign-up bonus and any rewards you earn in the remaining categories. Plus, if you are a Preferred Rewards member, your first-year earnings will receive an additional boost.
Why you might want the Bank of America® Customized Cash Rewards credit card
The fact you can pick your top rewards category and even change it each month makes the Bank of America® Customized Cash Rewards credit card truly unique. It also creates a new set of reasons for consumers to pick this card over other top cash back credit cards on the market today.
Additional benefits also add to the allure of this card. Here are a few reasons you may want to sign up for the Bank of America® Customized Cash Rewards credit card this year.
Rewards: The power to choose
The Bank of America® Customized Cash Rewards credit card makes the most sense for consumers who want to pick which categories they earn 3 percent cash back in throughout the year. It also helps that the bonus categories cardholders can choose from should be easy for most people to use. They include:
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Gas and EV charging stations
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Online shopping (including cable, internet, phone plans and streaming services)
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Dining
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Travel
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Drugstores and pharmacies
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Home improvement and furnishing
The card also earns 2 percent cash back at grocery stores and wholesale clubs, plus 1 percent back on all other purchases.
With these rewards rates in mind, it's easy to see how you can take advantage. For example, let's say you need to book airfare in February or March and pay for some home remodeling purchases in the final quarter of the year. You could opt to select travel as your 3 percent cash back category for the month you book airfare, and you could switch to home improvement and furnishing as you geared up to buy supplies for your project later on. For the rest of the year, you could change your 3 percent back category based on other upcoming purchases, or just switch to an everyday spending category you use, like dining or gas stations.
Your 3 percent and 2 percent cash back categories share a $2,500 quarterly spending cap, then reward rates drop to 1 percent. That’s about $833 per month in combined category spending before you hit the limit. Depending on your spending habits, this could cut into your earnings.
However, it’s worth noting that competing cards like the Discover it® Cash Back have spending caps of $1,500 per quarter. While the Customized Cash Rewards card limits your cash back earnings, the ceiling is relatively high.
0% APR offer: Money-saving intro APR offer
This card’s intro APR offer length of 15 billing cycles applies to both balance transfers (made in the first 60 days of opening your account) and purchases, which means you can use it to save on interest in whatever way you see fit. (Balance transfers may not be used to pay any account provided by Bank of America.) You could charge a large purchase (like home appliances or new carpet) to the card and pay it down interest-free for this timeline, or you could transfer debt from other cards and use the intro offer to save on interest and pay down debt faster.
That said, you'll want to keep the balance transfer fee on this card in mind if you plan to use it to consolidate debt. This fee is standard among balance transfer cards, but paying it will still add to the total debt amount you owe when you begin making payments (even with its balance transfer fee intro offer).
You can use our credit card balance transfer calculator to figure out if a balance transfer is worth it.
Also remember that a 18.24% - 28.24% Variable APR on purchases and balance transfers applies when this offer ends. This means you'll want to have a plan to pay off your balances within the first 15 billing cycles after sign-up.
Why you might want a different cash back credit card
While the Bank of America® Customized Cash Rewards credit card has a lot going for it, there are some reasons to consider another type of card. The main one is something we pointed out already — the quarterly bonus rewards caps that apply and limit the card's rewards potential over the year. Other reasons to consider another cash back credit card are detailed below.
Welcome bonus: Higher minimum spending requirement than most
The card's welcome bonus is worth pursuing if you can spend $1,000 on purchases within 90 days of account opening. This move will net you $200 in bonus cash, which will add to the rewards you earn for regular spending.
While this bonus is pretty typical among cash back credit cards, many competing cards require a much lower spending limit to earn the same amount.
Rates and fees: May be costly over time
The Bank of America® Customized Cash Rewards credit card comes with a $0 annual fee, which is typical among cash back credit cards. But it also charges 3 percent in foreign transaction fees, which means it's a relatively poor option for consumers who travel overseas. And while many cash back credit cards also charge foreign transaction fees, cards from Capital One and Discover never do.
The card also has a penalty APR when you make a late payment and a late payment fee, so missing a payment can add up. Its ongoing APR can also make carrying a balance on this card rather costly.
Other cardholder perks: Best for Bank of America Preferred Rewards members
This cash back credit card offers somewhat inferior benefits when compared to rival options. For example, some Chase rewards cards with a $0 annual fee also include trip cancellation and interruption insurance, purchase protection against damage or theft and extended warranties.
The Bank of America® Customized Cash Rewards credit card does give cardholders a free FICO score and access to contactless chip technology. New customers also qualify for Visa Signature benefits, which can include Visa Signature® Concierge, roadside dispatch and travel and emergency assistance. Other potential benefits are only for members of the Bank of America’s Preferred Rewards program, in which case cardholders can earn 25 to 75 percent more rewards depending on their tier of membership.
Here is a breakdown of the five Preferred Rewards tiers:
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Preferred Rewards Gold (at least a $20,000 balance): 25 percent boost for 3.75 percent on choice category purchases, 2.5 percent on grocery store and wholesale club purchases along with 1.25 percent on all other purchases (2.06 percent average rewards rate)
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Preferred Rewards Platinum (at least a $50,000 balance): 50 percent boost for 4.5 percent on choice category purchases, 3 percent on grocery store and wholesale club purchases along with 1.5 percent on all other purchases (2.47 percent average rewards rate)
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Preferred Rewards Platinum Honors (at least a $100,000 balance): 75 percent boost for 5.25 percent on choice category purchases, 3.5 percent on grocery store and wholesale club purchases along with 1.75 percent on all other purchases (2.88 percent average rewards rate)
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Preferred Rewards Diamond Honors (at least a $1,000,000 balance): 75 percent boost for 5.25 percent on choice category purchases, 3.5 percent on grocery store and wholesale club purchases along with 1.75 percent on all other purchases (2.88 percent average rewards rate)
We tried it: Here’s what our experts say
Bankrate writer James Royal, Ph.D., enjoys using the Customized Cash as part of his card portfolio. He particularly enjoys the boost he gets as a Preferred Rewards member, focusing on categories where he spends the most to maximize his earning potential.
Bankrate staff insights
The Bank of America Customized card lets me focus and supercharge my cash rewards, particularly on the categories where I spend the most — groceries and restaurants. I also use the Bank of America preferred client plan to juice those rewards by a further 75 percent — giving me the highest regular cash rewards on these specialized categories.
James Royal, Ph.D, Bankrate investing and wealth management principal writer
Best cards to pair with the Bank of America® Customized Cash Rewards credit card
The quarterly bonus rewards caps on the Bank of America® Customized Cash Rewards credit card make it a prime card for pairing. This means you would get more than one rewards credit card and use them strategically to boost your rewards balances over time. Consider these pairing partners for maximum rewards each year.
How the Bank of America® Customized Cash compares to other cash back credit cards
With the flexibility to pick your top rewards category, no annual fee and an intro APR offer for purchases and balance transfers, the Bank of America® Customized Cash Rewards credit card could make sense for a wide range of consumers. Before you pick it, however, you should see how it stacks up to a few competing cards in this niche.
Annual fee
Intro offer
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
Rewards rate
Earn 6% cash back for the first year in the category of your choice. Earn 3% cash back after the first year from account opening in your choice category. Earn 2% cash back at grocery stores and wholesale clubs. 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. After the 3% first-year bonus offer ends, you will earn 3% and 2% cash back on these purchases up to the quarterly maximum. Earn 1% cash back on all other purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
Earn $200 in cash back after you spend $1500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
Rewards rate
Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2026. Earn unlimited 1% cash back on all other purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
Intro Offer: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
Rewards rate
Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more. 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service. 1.5% cash back on all other purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Is the Bank of America Customized Cash Rewards right for me?
The Bank of America Customized Cash Rewards credit card is an excellent no-annual-fee card if you think you'll earn more by maximizing the card's bonus categories rather than with a 1.5 percent flat-rate cash back card. Check it if you:
Love rewards strategy: If want to be strategic with your rewards, you will love having the option to change your top bonus category with the Bank of America® Customized Cash Rewards credit card every calendar month.
Bank with Bank of America: Members of the Bank of America Preferred Rewards program who have at least $20,000 in eligible accounts will benefit the most from this card since they get an elevated rewards rate on everything they buy.
Spend low: While the quarterly bonus rewards caps might limit the card's rewards potential, this won't matter if you already spend less than $2,500 on your credit card in total each quarter. You can maximize rewards without worrying if you've gone over the bonus rewards cap at all.
Alternative picks
If none of the Customized Cash's choice categories fit your needs, you might consider these options.
Frequently asked questions
How we rated this card
We rate credit cards using a proprietary card scoring system that ranks each card’s estimated average rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks and more against those of other cards in its primary category.
Each card feature is assigned a weighting based on how important it is to people looking for a card in a given category. These features are then scored based on how they rank relative to the features on other cards in the category. Based on these calculations, each card receives an overall rating of 1-5 stars (with 5 being the highest possible score and 1 being the lowest).
We analyzed over 150 of the most popular rewards and cash back cards to determine where each stacked up based on their value, cost, benefits and more. Here are some of the key factors that influenced this card’s overall score and how the score influenced our review:
What cardholders think
Bank of America® Customized Cash Rewards credit card
In May 2024 and March 2025, Bankrate collaborated with a third-party vendor to survey 8170 cardholders nationwide. Bankrate and our vendor collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder's product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate's own reviews of these cards.
Community Reviews
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.
