Want to customize your cashback rewards?

The Bank of America Customized Cash Rewards card makes it simple to personalize cashback by letting cardholders select a preferred category that matches their spending. This customizable cashback card aims to deliver higher returns where you actually spend, whether on gas, dining, groceries, or travel, while offering steady BOA cash rewards on other purchases.

This article explains how the Bank of America Customized Cash Rewards card works, how to choose and manage your cashback category, and practical steps to maximize earnings. You’ll also find clear guidance on redeeming BOA cash rewards, combining benefits with Bank of America rewards programs, and troubleshooting common issues.

The target audience includes U.S. consumers seeking flexibility from a cashback card, existing Bank of America customers weighing relationship bonuses, and prospective cardholders comparing cashback options. The meta focus is on maximizing rewards by personalizing cashback categories for better value.

Roadmap: the article covers an overview of the card, how the program operates, earning structure, redemption methods, fees and eligibility, comparisons with competitor cards, practical tips for personalization, common questions and fixes, security and customer service, and a concise conclusion.

Credit Card

America Customized Cash Rewards

Customizable Bonus Category Grocery & Wholesale Club Rewards No Annual Fee

Preferred Rewards Boost

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Key Takeaways

• The card lets you choose one high-earning category to personalize cashback.
• Customization is the main advantage over typical flat-rate cards.
• BOA cash rewards work best when paired with Bank of America relationship bonuses.
• Redemption options include statement credits, deposits, and gift cards.
• Understanding category timing and limits helps maximize rewards.

Complete Comparison: Bank of America® Customized Cash Rewards vs. Premium Rewards® vs. Travel Rewards

Introduction

Bank of America is one of the largest financial institutions in the United States and offers a wide range of credit cards designed for different types of customers.
Among the most popular options are the Bank of America® Customized Cash Rewards Credit Card, the Bank of America® Premium Rewards® Credit Card, and the Bank of America® Travel Rewards Credit Card.

Although these cards belong to the same family of products, each one stands out for its unique rewards structure, fees, travel benefits, and ideal user profile.
In this article, you’ll discover the main differences between these three cards, understand which one fits your lifestyle best, and see a clear overview of each card’s advantages and costs.

Credit Card

Premium Rewards

2 points per dollar on travel and dining. 1.5 points per dollar on all other purchases. Welcome bonus for new cardholders.

No foreign transaction fees.

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Development

All three cards share a few core qualities: they are widely accepted across the U.S., backed by Bank of America’s reputation and security, and include reward programs that give you real value — whether through cashback, travel points, or premium statement credits.

However, their differences become clear when you consider what each card is designed for:

• The Customized Cash Rewards is ideal for those seeking flexible cashback options without an annual fee.
• The Premium Rewards® caters to frequent travelers who value premium perks and travel protections.
• The Travel Rewards card is perfect for users who prefer simplicity, flat-rate rewards, and no foreign transaction fees.

Below, you’ll find a detailed comparison of the three.

Comparison Table: Bank of America Credit Cards

Conclusion

Choosing between the Bank of America® Customized Cash Rewards, Bank of America® Premium Rewards®, and Bank of America® Travel Rewards depends on your financial goals and spending habits.

• If your goal is saving money with cashback, the Customized Cash Rewards card is the best fit.
• If you travel often and value credits, insurance, and luxury benefits, the Premium Rewards® card offers the most value, easily offsetting its annual fee.
• If you want a straightforward card with travel-friendly rewards and no fees, the Travel Rewards card is ideal.

No matter which one you choose, all three offer security, flexibility, and competitive rewards, making Bank of America one of the top choices for credit cards in the United States.

Overview of Bank of America Customized Cash Rewards: Personalize Your Cashback Categories

The Bank of America Customized Cash Rewards card is a variable-category cashback product that lets cardholders pick one preferred 3% cashback category, earn 2% on grocery purchases, and get 1% on other purchases. Check Bank of America for current rates and any promotional changes before applying.

This customizable category credit card suits people who spend heavily in one or two areas, such as gas, online shopping, or dining. Existing Bank of America clients often find it convenient, but the card is available to other U.S. residents who meet eligibility rules.

What the card is and who it’s for

The card answers the question of what is Customized Cash Rewards by offering a simple way to concentrate rewards without juggling multiple cards. Cardholders choose a single high-earning category rather than tracking quarterly rotations. This design benefits moderate to heavy spenders who want steady returns on a core spending category.

How customization sets it apart from other cashback cards

Unlike flat-rate cards that give the same percentage across all purchases, and rotating-category cards that require quarterly activations, this card provides a fixed preferred category you control. That reduces surprises and makes forecasting rewards easier.

Trade-offs exist. You get a higher rate in one category but fewer elevated categories overall compared with some competitors that offer multiple 5% rotating categories or broad flat-rate returns.

Key terms to know

Understand these cash back key terms before you apply. Cashback rate refers to the percentage returned on purchases in selected and default categories. Rewards cap describes any limit on bonus-rate purchases; check the current card terms for exact ceilings. Redemption options include statement credit, deposit to Bank of America or Merrill accounts, and gift cards, each with minimum thresholds and processing times set by the issuer.

How the Customized Cash Rewards Program Works

Understanding how Customized Cash Rewards works helps cardholders pick the best option for everyday spending. The program centers on one selected category that pays a higher rate, a default grocery rate, and a base rate for other purchases. Use the Bank of America online account, the mobile banking app, or call customer service to set or change your preferred category.

Choosing and changing your cashback category

Open the Bank of America app or sign into your online account and go to the rewards or card management section to pick a preferred category. Navigation usually lists rewards settings under the credit card details. If you prefer, call Bank of America customer service and an agent can walk you through the selection.

Typical category options historically include gas, online shopping, dining, travel, drugstores, home improvement, and recurring bill payments. Available choices can change, so check the app or website for the current list. After you select a category, the site or app displays confirmation prompts and a saved notification that shows the effective date.

Earning rates for preferred and default categories

The standard structure gives a higher cashback percentage for the chosen preferred category, a separate rate for groceries, and a base rate for all other purchases. Exact percentages may vary, so verify the current earning rates BOA cash rewards in Bank of America’s disclosures.

Rewards are calculated on qualifying transactions and typically post to your account on a monthly cycle. Merchant category codes (MCC) determine whether a purchase qualifies for a given category. Keep receipts and check postings if a purchase appears in the wrong category.

Timing and limits for category changes

Cardholders can change their selected category periodically, but the rules vary by issuer terms. Many accounts allow one change per billing cycle or limit the number of switches per year. These category change limits prevent frequent switching to game the system.

Expect a short processing delay. Changes often take effect at the start of the next billing cycle or within a few business days. Category changes do not apply retroactively to prior purchases, so plan changes ahead of large transactions to capture the preferred rate.

Rewards and Earning Structure

Understanding how rewards stack helps you pick the best category and plan spending. Below you’ll find a clear breakdown of bonus tiers, how Bank of America’s account-linked incentives apply, and practical sample earnings scenarios that show what to expect.

Bonus categories and everyday cashback rates

The card typically offers an elevated rate for one selected category, a higher grocery rate as a default, and a base rate on all other purchases. For example, many cards follow a 3% rate for the chosen category, 2% at groceries, and 1% everywhere else. Some merchant transactions, bill payments, or purchases coded under unexpected MCCs may not qualify for the bonus rate.

Merchant category codes (MCCs) determine which purchases earn the preferred bonus. Transactions at certain retailers can be routed under different MCCs, so the same merchant might yield different cashback depending on how a purchase is processed.

Combination with Bank of America relationship bonuses

Enrolling in Preferred Rewards can add a boost to each card tier. The BoA relationship bonus usually ranges across tiers and can increase your card earnings by a percentage based on combined balances across Bank of America and Merrill accounts.

As a practical example, a 3% bonus category could be multiplied by a 25% BoA relationship bonus to become 3.75%. Enrollment requires meeting balance thresholds and joining Preferred Rewards. Confirm current thresholds and exact bonus levels with Bank of America before making choices.

Examples of earning scenarios based on typical spending

Below are concrete sample earnings scenarios that estimate monthly cashback before and after a 25% relationship boost. These scenarios use a 3%/2%/1% base model and assume the cardholder is in the 25% Preferred Rewards tier for illustration.

These sample earnings scenarios show how the BoA relationship bonus can shift outcomes. If you ask, “how much can I earn BOA cash rewards?” use your actual monthly spend and the card’s posted rates to compute a personalized estimate.

Keep in mind these illustrations depend on selected category, merchant MCCs, relationship tier, and current published cashback rates Bank of America. Always verify the latest program terms before relying on projected totals.

Redeeming Cashback and Value Options

Bank of America makes it simple to redeem BOA cash rewards through several straightforward options. Cardholders can request a statement credit, choose a deposit to a Bank of America checking or savings account, move rewards into a Merrill investment account, or trade rewards for gift cards and merchandise. Minimum redemption amounts can vary by option; check your online account for current thresholds and eligibility.

Statement credit BOA is useful when you want to cut your balance quickly. Processing times for statement credit BOA requests usually take one to three business days. Automated redemptions for statement credit can be set up in online banking if you prefer regular credits to reduce your monthly bill.

To deposit cashback Bank of America, link your credit card to your checking or savings account via the Bank of America mobile app or online banking. Deposits typically post within one to three business days. If you set up automatic deposit cashback Bank of America, you can accumulate rewards in a target account for bills or short-term goals.

Merrill cash redemption offers a path to invest rewards. Transfers to a Merrill account may be treated differently for tax reporting than simple deposits. Small transfers often post within a few business days. Before scheduling Merrill cash redemption, confirm account linking and any tax implications with your Merrill advisor or through account documentation.

Manage redemption preferences in the Bank of America online portal or mobile app under the rewards or benefits section. You can select defaults, schedule automatic deposits, and view pending redemptions. This centralized control streamlines how you redeem BOA cash rewards and reduces the chance of missed credits.

Maximizing redemption value starts with strategy. If you carry a balance, choose statement credit BOA to lower interest costs faster. If you want to grow savings or investments, deposit cashback Bank of America or opt for Merrill cash redemption to flow rewards directly into an investment plan.

Gift cards sometimes show bonus promotions that slightly increase nominal value. Those offers may include restrictions and expiration dates. For highest practical value, prefer direct deposit or statement credit BOA, since they preserve cash value without fees or extra conditions.

Time redemptions to match bills or planned investments to make rewards immediately useful. Automated deposits into Bank of America or Merrill accounts help build momentum toward savings goals or investment targets.

Fees, APRs, and Eligibility Requirements

The cost of carrying a Bank of America Customized Cash Rewards card depends on activity and credit profile. The card has historically offered no annual fee, but cardholders may face other standard charges. Review the issuer’s up-to-date fee schedule before applying.

Annual and incidental fees

Expect possible fees for late payments, returned payments, and foreign transactions when applicable. Cash advances carry both a fee and a higher APR, plus ATM fees tied to the cash source. These incidental costs can add up quickly if you use the card for borrowing rather than paying monthly.

Interest and balance transfer details

Interest rates vary by creditworthiness. Advertised interest rates Bank of America credit card offers typically present a range for purchases and cash advances linked to your credit profile. Promotional APRs for purchases or balance transfers may appear from time to time. Balance transfer terms often include a fee, usually a percentage of the amount transferred or a set minimum, and promotional APRs may apply during a limited window.

Penalty APRs and payment behavior

Late or missed payments can trigger a penalty APR, raising your cost of credit and potentially affecting rewards eligibility. Pay on time to preserve the stated APRs and keep rewards intact.

Who is likely to qualify

Most applicants need good to excellent credit to be competitive. The credit score required BOA card approval generally falls around a FICO score of 670 or higher, but income, credit history, and debt-to-income ratio also matter. U.S. residency and identity verification are standard requirements.

Tools and precautions

Use Bank of America’s prequalification tool when available to estimate approval odds without a hard inquiry. That step can help you avoid unnecessary hits to your credit while you compare offers and confirm balance transfer terms or BOA cash rewards fees.

Comparing Customized Cash Rewards to Competing Cashback Cards

Deciding which cashback card fits your wallet means weighing customization, simplicity, and high-earning windows. This comparison highlights how Bank of America’s Customized Cash Rewards stacks up against popular flat-rate and rotating-category cards. Read with your spending mix in mind to see where value shifts.

Direct comparisons with flat-rate and rotating-category cards

Citi Double Cash gives a steady 2% on all purchases. That appeals to people who want no thought and uniform returns. Chase Freedom Flex and Discover it offer rotating categories that yield up to 5% in specific quarters after activation. Those cards reward active managers who track categories every quarter.

Bank of America’s approach centers on one elevated category you pick, plus a base rate on everything else. A focused spender who spends most in one area will find customized earnings competitive. Use the best cashback cards comparison to match your habits: broad spenders often favor flat-rate cards, while seasonally active shoppers can benefit from rotating rewards.

Pros and cons relative to competitor rewards structures

Pros include personalization, simple ongoing management, and the ability to combine with Bank of America Preferred Rewards for higher effective returns. Cardholders avoid quarterly activation tasks required by rotating-category cards.

Cons include having only one elevated category at a time and merchant coding quirks that may lower rewards for some purchases. Premium travel cards and some competitors may offer larger welcome bonuses, stronger travel protections, or niche perks like cell phone protection.

When the Customized Cash Rewards card is the better choice

Choose BOA cash rewards if your spending is concentrated in a single category, such as gas, online shopping, or grocery bills. Bank of America customers in the Preferred Rewards program gain more value from combined bonuses. The card suits people who prefer steady, predictable rewards without quarterly activation chores.

If you want broad, hands-off value, a flat-rate card like Citi Double Cash may fit better. If you plan to track and activate rotating categories to exploit high-rate bonuses, a card such as Chase Freedom Flex or Discover it can outperform a single-category model in select quarters.

Use a best cashback cards comparison to weigh welcome bonuses, travel protections, and everyday acceptance. Customized Cash Rewards vs competitors will often come down to whether you value personalization and Bank of America integrations over the flexibility of rotating vs flat cashback models.

Tips for Personalizing Cashback to Maximize Rewards

Personalizing cashback starts with clear data. Track two to three months of spending using Bank of America’s online spending summary or a budgeting app. This helps you see where your dollars go and makes it easier to optimize BOA cashback choices.

Focus on the categories that matter most to your budget. Prioritize categories where you spend the most and where merchant MCCs reliably classify purchases. That approach helps you pick best category BOA options that actually capture the higher rate.

Check merchant coding before big buys. A home improvement store may be coded differently than a contractor. Confirm MCCs so your purchase qualifies for the chosen category. Plan ahead because timing cashback category change may prevent earning the bonus if the switch is not effective yet.

Set your preferred category before planned large purchases. Find out whether Bank of America applies the change immediately or at the next billing cycle. Do not assume retroactive credit; change in advance to secure the higher rate.

Enroll in Preferred Rewards if you qualify. Higher tiers boost your cashback multiplier and help maximize Preferred Rewards benefits. Pair that program with careful category selection for compound gains.

Use promotional offers in the Bank of America mobile app and targeted merchant deals to add value. Combining category choices with Bank of America bonuses creates more pickup on everyday spending. Consider directing cashback into Merrill accounts if investing aligns with your financial goals.

Small habits add up. Review your selected category every few months and after major life changes like moving or a new household budget. Frequent review keeps your choices aligned with current spending and helps you continually optimize BOA cashback.

Common Questions and Troubleshooting for Cardholders

Use this quick guide to manage common issues with Bank of America Customized Cash Rewards. It covers how to change BOA cashback category, steps to address missing credits, and key limits in the rewards terms fine print.

How to change your selected category and where to do it

Log in to Bank of America online banking or the mobile app. Open your credit card account and tap the Rewards or Manage Rewards section. Pick a new category from the available list, confirm the selection, and save changes. Note the confirmation message and check the effective date shown after you save.

Customer service can help by phone if the app or site won’t let you update. Keep a screenshot or confirmation number for your records.

Resolving missing or delayed cashback credits

Common causes for missing cashback BOA include merchant MCC coding, processing delays, returned items, or ineligible transaction types. First, review your rewards activity and monthly statement for timing and descriptions.

Document the transactions and use secure messages in online banking or call customer service to dispute missing credits. Be ready to supply merchant receipts, transaction dates, and any order numbers. Bank of America may need several business days to investigate and post adjustments.

Understanding limitations and fine print in rewards terms

Read the rewards terms fine print closely. Watch for exclusions by merchant type, caps on bonus earnings, and rules about non-retroactivity when you change categories. Note minimum redemption thresholds and how refunds can reverse cashback.

The cardholder agreement on Bank of America’s site has the definitive language. Check it when promotions appear or when terms change so you can confirm eligibility for any bonus earnings.

Security, Customer Service, and Account Management

Keep your account safe while getting the most from rewards and services. The Bank of America online portal and app let you manage card settings, track activity, and redeem earnings with a few taps. Small steps at setup save time later and reduce the chance of surprises.

Managing your card through online banking and mobile app

You can manage BOA card online to select or change your cashback category and view recent rewards activity. The dashboard shows detailed transaction histories and redemption options for cashback. Use the app for BOA mobile app rewards tasks like redeeming points, setting up auto payments, and viewing statements.

The mobile app gives quick card controls such as temporary card lock, travel notifications, and spending alerts. Secure messaging inside online banking helps with questions about rewards or account actions.

Security features and fraud protection

Bank of America fraud protection includes EMV chip technology and zero-liability coverage for unauthorized transactions. You can enable two-factor authentication for online access and set transaction alerts by push or SMS to catch odd activity fast.

If a charge looks wrong you may dispute it and lock the card immediately through the app. Best practice is to use strong, unique passwords, enable multi-factor authentication, review statements regularly, and keep contact details current for alert delivery.

How to contact Bank of America for rewards or account issues

To contact BOA customer service use the phone number on the back of your card, secure messaging in online banking, or visit a local branch for in-person help. Merrill support handles investment-linked redemptions when rewards tie to Merrill accounts.

Have your account number, recent transaction dates, and any supporting documentation ready when you reach out. Hours of operation vary by channel and response times may differ between phone, secure message, and in-branch visits.

Conclusion

This Bank of America Customized Cash Rewards summary highlights the card’s core strength: flexible cashback by choosing a preferred category. Cardholders with concentrated spending on groceries, gas, or online shopping can often earn more than with a flat-rate card. Pairing the card with Bank of America Preferred Rewards increases value for many customers.

To personalize cashback conclusion steps, review current Bank of America terms for up-to-date rates and caps. Track monthly spending to pick the best category, use the mobile app to change selections, and enroll in Preferred Rewards if eligible. Those practical moves make the rewards easier to maximize.

Also compare alternatives like flat-rate cards and rotating-category options against the best uses BOA cash rewards for your habits. Weigh fees, APRs, and extra perks before you apply. Finally, verify all rates, limits, and program specifics on Bank of America’s official materials before making decisions, since terms can change.