Bank of America Enhances 3% Categories for Customized Cash Rewards Card

The Bank of America^® Customized Cash Rewards Credit Card is a popular cash-back credit card option thanks to its ability to choose your top 3% cash-back category from a list of great options.

Now, the card is getting even more valuable thanks to some welcome additions to the 3% cash-back categories.

Let’s dive into everything you should know about these enhancements from Bank of America.

Bank of America Customized Cash Rewards Card Bonus Categories

Bank of America^® Customized Cash Rewards credit card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Bank of America Customized Cash Rewards card allows you to maximize your cash-back in your choice category each month.

Bank of America^® Customized Cash Rewards credit card

The Bank of America Customized Cash Rewards card allows you to maximize your cash-back in your choice category each month.

Welcome Offer

Earn $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

$200

Annual Fee

$0

APR

0% Intro APR for 15 billing cycles for purchases and balance transfers. Variable rate of 17.49% to 27.49% applies thereafter.

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Good to Excellent (670-850)

Why We Like This Card

If you’re looking to the rake in the cash-back rewards, then the Bank of America^® Customized Cash Rewards Credit Card is a great option. Not only do you get to choose the 3% category for the card, but you can also boost the cash-back you earn by being a member of the BofA Rewards program.

Pros & Cons

Pros

• 3% cash-back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings (your category can be changed each month)
• 2% cash-back at grocery stores and wholesale clubs
• 1% cash-back on all other purchases

Cons

• 3% and 2% cash-back categories are limited to the first $2,500 in combined purchases each quarter, then you’ll earn 1%
• Charges a foreign transaction fee

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Card Highlights

• $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 quarterly purchases) and unlimited 1% on all other purchases.
• If you’re a BofA Rewards member, you can earn 10%-75% more cash back on every purchase. That means you could earn 3.3%-5.25% cash back on purchases in your choice category.
• No annual fee and no expiration on rewards.
• 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 17.49% to 27.49% Variable APR will apply. A 3% fee applies to all balance transfers in the first 60 days your account is open. After the intro balance transfer fee offer ends, the fee for all future balance transfers is 5%.
• 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.

Financial Snapshot

• APR: 0% Intro APR for 15 billing cycles for purchases and balance transfers. Variable rate of 17.49% to 27.49% applies thereafter.
• Foreign Transaction Fees: 3%

Bank of America Customized Cash Rewards card holders can now earn 3% cash-back on EV charging stations along with their gas station purchases, as well as on cable, streaming, internet, and phone plans along with their other online shopping purchases.

These additions make your top 3% cash-back category as follows:

• Gas & EV Charging Stations
• Online Shopping, Cable, Streaming, Internet, and Phone Plans
• Dining
• Travel
• Drug Stores and Pharmacies
• Home Improvement and Furnishings

While you can only select 1 category for your 3% rewards, it can be switched once per month, and you’ll also earn 2% cash-back at grocery stores and wholesale clubs. That said, your cash-back is limited to $2,500 in combined purchases on these categories each quarter.

Earning 3% cash-back on the top category of your choice is an excellent benefit on its own, but those who also participate in the BofA Rewards program can earn 10% to 75% more cash-back on every purchase made with their card.

This means that your 3% cash-back category can be boosted to 3.3% back, 3.75% back, 4.5% back, or even 5.25% back, depending on your rewards tier.

Final Thoughts

The $0-annual-fee Bank of America Customized Cash Rewards card just became an even more compelling option now that you can earn 3% cash-back on EV charging stations, along with cable, streaming, internet, and phone plans. Given how great the card is, it should come as no surprise that it is one of our picks for the best cash-back credit cards.