Looking for a credit card that rewards you for shopping at your favorite stores? The Customized Cash Rewards credit card from Bank of America might be exactly what you need. This card stands out by letting you choose where you earn the highest cash back rewards, making it a flexible option for smart shoppers who want to maximize their everyday spending.
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Overview: What Makes Customized Cash Rewards Special
The Customized Cash Rewards card is issued by Bank of America and designed for consumers who want control over their rewards. Unlike many cash back cards with fixed bonus categories, this card allows you to select the spending category where you’ll earn 3% cash back each month. Whether you spend more on gas, online shopping, dining, travel, or home improvement, you can adjust your rewards to match your lifestyle.
You’ll also earn 2% cash back at grocery stores and wholesale clubs (up to $2,500 in combined quarterly purchases), plus 1% on all other purchases. With no annual fee and a straightforward rewards structure, it’s an excellent choice for anyone looking to earn more without complicated point systems.
Who Should Consider This Card?
The Customized Cash Rewards card is ideal for several types of cardholders:
- Frequent shoppers in specific categories who want to maximize rewards on their biggest spending habits
- Grocery shoppers who can take advantage of the 2% cash back on supermarket purchases
- Bank of America customers who can benefit from the Preferred Rewards program for even higher cash back rates
- Cash back enthusiasts who prefer simple, straightforward rewards over travel points
- Budget-conscious consumers who want premium rewards without paying an annual fee
Quick Facts at a Glance
Before diving deeper, here are the essential details you need to know about the Customized Cash Rewards card:
Annual Fee
$0 – One of the card’s biggest advantages is that there’s no annual fee, making it accessible for most cardholders and ensuring your rewards aren’t eaten up by yearly costs.
Interest Rate (APR)
The variable APR typically ranges from 16.24% to 26.24%, depending on your creditworthiness. As with any credit card, it’s best to pay your balance in full each month to avoid interest charges.
Income Requirements
Bank of America doesn’t publicly specify a minimum income requirement for this card, but applicants should have a stable income that demonstrates the ability to manage credit responsibly. Most successful applicants report household incomes of at least $25,000 annually.
Credit Score Required
You’ll typically need good to excellent credit to qualify for the Customized Cash Rewards card. This generally means a FICO score of 670 or higher, though scores in the 700+ range will give you the best approval odds and potentially better terms.
Additional Benefits Worth Noting
Beyond the customizable rewards structure, this card offers several valuable perks. New cardholders can earn a $200 online cash rewards bonus after making at least $1,000 in purchases within the first 90 days. The card also includes zero liability protection, so you won’t be held responsible for unauthorized charges.
Bank of America Preferred Rewards members can boost their rewards even further, earning up to 5.25% cash back in their choice category. The cash back never expires as long as your account remains open, and you can redeem rewards as statement credits, direct deposits, or even use them for charitable donations.
Final Verdict: Is Customized Cash Rewards Worth It?
Absolutely. The Customized Cash Rewards card is an outstanding choice for consumers who want flexibility and value from their credit card. With no annual fee, competitive cash back rates, and the ability to customize your bonus category monthly, it adapts to your spending patterns rather than forcing you into fixed categories.
If you have good credit and want a straightforward cash back card that rewards your actual spending habits, the Customized Cash Rewards deserves serious consideration. The 3% back in your choice category, combined with 2% at grocery stores, makes it easy to earn substantial rewards on everyday purchases. For Bank of America customers especially, the Preferred Rewards bonus makes this card even more valuable, potentially offering some of the highest cash back rates available without an annual fee.
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