Bank of America Customized Cash Rewards: Benefits
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The Downsides: Where It Falls Short
That $2,500 quarterly cap on the 3% and 2% categories can cramp your style if you spend heavily—post-limit, you’re stuck at 1%. Without Preferred Rewards, the rates don’t dazzle compared to rivals offering 5% in fixed categories. And that 3% foreign fee? A bummer for globetrotters. It’s a solid card, but not flawless.
Competitor Showdown
How does it fare? The Chase Freedom Flex delivers 5% on rotating categories (up to $1,500/quarter), outpacing the 3% cap but lacking choice. The Citi Custom Cash offers 5% on your top category (up to $500/month), great for concentrated spending but less flexible. The Bank of America Customized Cash Rewards wins with its no-fee customization—a rare combo.
Who’s It For?
This card clicks for folks who like tailoring rewards—maybe online shopping this month, travel the next. Bank of America clients with big balances cash in big with Preferred Rewards. If you want no-fee simplicity with decent returns, it’s a contender.
How to Get Your Hands on It
Ready? Here’s the rundown:
- Meet the Basics: Be 18+, live in the U.S., and have a good credit score (670+ recommended).
- Head Online: Visit bankofamerica.com, find “Credit Cards,” and hit “Apply Now” for the Customized Cash Rewards.
- Fill It Out: Provide your name, address, SSN, income, and job details. Bank clients can log in to streamline it.
- Set Your 3%: Pick your starting category—like streaming or home upgrades.
- Submit: Check the terms (APR, fees) and send. Approval might be instant or take days.
- Wait for Delivery: If approved, it arrives in 7-10 business days; bank users can start via the app.
Tip: Keep income docs ready and skip recent credit apps to safeguard your score.
Conclusion
The Bank of America Customized Cash Rewards serves up a no-fee, flexible cashback combo with a 0% intro APR and a $200 bonus to sweeten the deal. It shines for choice-driven spenders and bank loyalists, though the quarterly cap and foreign fees temper its glow. It’s a reliable pick for disciplined users—but does it spark joy for your wallet, or is there a hidden gem waiting? Take the plunge, apply, and see where it takes you!
