The Bank of America® Customized Cash Rewards Credit Card is a no annual fee cash back card that allows you to earn 3% cash back in a category of your choice, 2% at grocery stores and wholesale clubs, and 1% on all other purchases.
This credit card review will cover everything you need to know about this card to determine if you should add this card or a different card to your wallet. Let’s dive right in.
Welcome Bonus
The Customized Cash Rewards currently offers the following welcome bonus: bonus_miles_full
Earning Cash Back
The Customized Cash Rewards earns cash back at the following rates: However, the 3% and 2% cash back are each capped at $2,500 in combined spending during each quarter. After that, you will only earn 1% cash back.
Extra Points with Preferred Rewards
You can boost your rewards if you are a member of the Preferred Rewards program, allowing you to earn 25% to 75% more rewards on every purchase based on the amount of money in Bank of America banking and/or Merrill Investment accounts.
Gold ($20,000 to $49,999) = 25% rewards boost.
Platinum ($50,000 to $99,999) = 50% rewards boost.
Platinum Honors ($100,000+) = 75% rewards boost.
Annual Fee of Customized Cash
The Customized Cash Rewards credit card has no annual fee, making it an affordable option for those looking to earn cash back rewards without an extra yearly cost.
Benefits of Customized Cash Rewards
The Customized Cash offers the following benefits:
Intro APR: Enjoy 0% Intro APR for your first 15 billing cycles for purchases and for any balance transfers made within the first 60 days of opening your account. After that a reg_apr,reg_apr_type will apply.
Contactless Cards: The security of a chip card, with the convenience of a tap.
Pros and Cons of Customized Cash
Here are the advantages and disadvantages of this card:
Pros:
- Ability to earn 3% cash back in your top category.
- No annual fee.
Cons:
- Lack of any major benefits such as travel or purchase protections.
- 1% cash back on everyday spending.
- Cash back is capped at $2,500 in combined purchases at each 3% and 2% level.
Alternatives to Customized Cash Card
Now that you know about this credit card’s various benefits and pros and cons, it’s time to see its alternatives.
Chase Freedom Unlimited®
The Chase Freedom Unlimited® (review) sets itself apart with 1.5% back on non-bonus purchases, plus higher rewards in select categories including dining and travel. This flexible rewards card becomes even more valuable when paired with a premium Chase card, allowing you to transfer your rewards to travel partners. Welcome Bonus: bonus_miles_full Earning Cash Back: 5% back on travel purchased through Chase Travel℠; 3% back on dining at restaurants, including takeout and eligible delivery services; 3% back on drugstore purchases; 1.5% back on all other purchases CaBenefits: Purchase protection, extended warranty, trip cancellation and interruption insurance, secondary rental car insurance, and 0% intro APR for 15 months from account opening on purchases and balance transfers, after that reg_apr,reg_apr_type APR applies; 
Citi Custom Cash℠ Card
The Citi Custom Cash℠ Card offers a unique rewards structure that automatically earns 5x points in your highest spending category each billing cycle, up to $500 in purchases. You’ll maximize your rewards with this flexible no-annual-fee card that adapts to your spending habits across ten useful bonus categories including restaurants, travel, groceries, and gas stations. Welcome Bonus: bonus_miles_full Earn Rewards: 5% cash back for your top category each billing cycle up to $500 in the following categories: restaurants, gas stations, grocery stores, select travel (airlines, hotels, cruise lines and travel agencies), select transit (car rentals, parking, EV charging, tolls, etc.), select streaming services, drugstores, home improvement stores, fitness clubs, and live entertainment.; 1% cash back on all other eligible purchases. Card Benefits: Access to Citi Entertainment, contactless payment, a free check of your FICO credit score, and 0% intro APR for 15 months on purchases and balance transfer, after that, a reg_apr,reg_apr_type APR applies.
Is the Customized Cash Card Worth It?
I do not recommend the Bank of America Customized Cash because it lacks major benefits and other cards offer more overall rewards for your spending.
