A variety of purchases ranging from everyday travel expenses to vacations and getaways qualify for the travel category. Plus, you'll earn 1 percent back on all spending after you reach the limit, meaning you could earn even more in rewards. For example, Delta Airlines, Airbnb, E-Zpass, Sunpass, Uber, Marriott. To update the category in the mobile app, simply select the Bank of America Cash Reward card, click on the Rewards tab and select Get Started. If you want to choose a category other than gas, click Change Category., To get detailed information about each choice category, select Category Details. You can also view your previous choice categories by clicking Selection History.. CreditCards.com credit ranges are derived from FICO Score 8, which is one of many different types of credit scores. I'm maxed out on Q3, and I want to get started on Q4, but I don't know if this new charge is . To apply for this card, it is possible to make an appointment with the bank officer or directly apply online. the "Apply Now" button, you can review the credit card terms and conditions on the issuer's web site. If youre interested in getting a card with rotating bonus categories, you can find many of them among WalletHubs picks for the best 5% cash back credit cards. Taking advantage of the sign-up bonus. Stay up-to-date on the latest credit card news from product reviews to credit advice with our newsletter in your inbox twice a week. Q4 for the bank of america cash rewards starts on October 1st. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. That said, the card has its limitations, and youll probably want to steer clear if you want unfettered cash back earning potential or are looking for a more travel-oriented card. You earn a total of 2% cash back (equal to $0.02 for every $1, consisting of 1% Bonus Cash Rewards and 1% Base Cash Rewards) on Net Purchases made at any eligible grocery store merchants and wholesale To be covered, don't share personal or account information with anyone. The Bank of America Customized Cash card lives up to its name, letting you customize your cash back without too much hassle. 0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. When you click on The offers that appear on this site are from companies from which CreditCards.com receives compensation. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. Accuracy, independence and authority remain as key principles of our editorial guidelines. Most of the same features apply, including the same introductory APR for purchases and balance transfers. The bonus categories cover most of the everyday spending needs of students. However, it is possible to earn 3% and 2% cash back only on the first $2,500; then, the ratio is reduced to 1%. WalletHub Answers is a free service that helps consumers access financial information. So, for example, if you travel frequently and spend around $250 each week on hotel stays and rental cars, youll likely benefit most from the travel category. Please view our advertising policy page for more information. Grocery store merchants and wholesale clubs include supermarkets, freezer or meat lockers, candy, nut or confection stores, dairy product stores and bakeries. 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. The Bank of America Cash Rewards card allows customers to choose which categories line up best with their priorities. on an eligible card, youll be able to maximize your cash rewards with an extra bonus of 25%, 50% or 75% for the Gold, Platinum and Platinum Honors tiers, respectively. Log in to enroll Don't have a Bank of America checking account yet? **** Cash Rewards or statement credit redemptions; $25 minimum for 529 contributions and check redemptions Automatic Redemption $25 minimum Expiration As long as your account is open and has active charging privileges, Cash Rewards . The card supports contactless payment technology, digital wallets, and safe online and offline payments. Merchants that provide non-retail services, such as doctors and hospitals, government services and taxes, insurance, membership organizations, schools and utilities are excluded from the category. Message and data rates may apply. With a 3%/2%/1% rewards scheme, you get to pick where you spend the most each quarter from gas, online shopping, dining, travel, drug stores or home improvements and furnishing. You can redeem cash rewards from Bank of America through your. Youll qualify for the lowest level (Gold) if you have $20,000 to $49,999 in your Bank of America deposit accounts, which will get you a 25% points bonus on all your purchases. Editorial and user-generated content is not provided, reviewed or endorsed by any company. See the Preferred Rewards earning tiers below. Best Credit Card Rewards Programs of 2022. New customers have to provide the following information: Getting this reward is subject to a condition; however, it is easy to meet it. Our team is made up of diverse individuals with a wide range of expertise and complementary backgrounds. How long does it take to redeem cash rewards from Bank of America? CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. In addition, it is not any companys responsibility to ensure all questions are answered. Link them to your Bank of America Customized Cash credit card. After that, youll earn just 1 percent cash back on purchases that fall within those categories. The Bank of America Customized Cash Rewards Secured credit card gives access to the bank's rewards program that lets you earn cash back for making purchases. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Card Details Interest Rates & Fees Rewards Security & Features Connect one on one with a credit card specialist Schedule an appointment $0 Liability Guarantee. There is a minimum redemption amount of $25 for contributions to a qualifying 529 account with Merrill Lynch or Merrill Edge or a for a check. Alternatively, you can do it over the phone, by calling customer service at (800) 434-8313. How can one get a $200 welcome bonus for new cardholders of Bank of America Customized Cash Rewards for Students? It will remain the same until you decide to update it. Check redemptions start at $25. The Bank of America Customized Cash Rewards credit card provides just that: The ability to pick a cash back bonus category from a list of six options. Multiple checks, if requested, will be mailed separately. Statement credits will normally be applied to an existing balance with the highest APR. Editorial integrity is central to every article we publish. Privacy Policy. Members of Bank of America's Preferred Rewards for Business program earn 25% to 75% more cash back on every purchase made with the Business Advantage Unlimited Cash Rewards card, depending on their rewards tier - that means the unlimited 1.5% cash back earned on all purchases could go up to 2.62% cash back. Please review our list of best credit cards, or use our CardMatch tool to find cards matched to your needs. The information, including card rates and fees, presented in the review is accurate as of the date of the review. You can redeem cash rewards from Bank of America either online, through the mobile app, or over the phone at (800) 434-8313. We are committed to being fully transparent with our readers. The Bank of America Customized Cash card is whats called a tiered bonus category card, which means it offers boosted rewards rates on specific types of purchases. The card's annual fee is $0. Card advice Every day, we strive to bring you peace-of-mind as you work toward your financial goals. Heres what you need to know to decide whether this Bank of America card is a good fit for your wallet. Generally, the value of Bank of America rewards points will vary depending on how you redeem them and the card you have. You can apply for the card directly. Yes, if the cardholder has funds over $20,000, cash-back may grow even by 75% compared to the initial reward rate. With no annual fee, youre only gaining from this lucrative card that lets you customize your bonus categories based on your lifestyle. Plus, youll earn a BankAmeriDeals coin for each qualifying purchase you make. The Bank of America Customized Cash Rewards for Students features a zero annual fee. To enroll in Preferred Rewards, you must have an eligible Bank of America personal checking account and a three-month average of $20,000 or more in qualifying Bank of America banking accounts and/or Merrill Edge and Merrill Lynch investment accounts. Please log in or register before sending your review. If youre not tied to Bank of America as an issuer, feel free to also check out some of. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Copyright 2022 CreditCards.com a Red Ventures Company. A good example would be the Bank of America Travel Rewards credit card, which offers 25,000 points for spending $1,000 in the first 90 days. Rewards are only redeemable for cash back, either in the form of a statement credit, direct deposit, or personal check. However, statement credits, checks and contributions into a 529 account do not qualify for automatic redemptions. You have the power to pick your bonus category each month, which can appeal to those who dont have traditional spending habits. Cash Rewards are calculated at each transaction. The Bank of America Cash Rewards Credit Card for Students offers 3% cash back in the category of your choice and 2% cash back at grocery stores and wholesale clubs (up to $2,500 in combined choice . The offers that appear on this site are from companies from which CreditCards.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear within listing categories. Enter your cell phone number and well send you a link to install the WalletHub app. What is the best Bank of America credit card with a $200 bonus offer? This category can be changed every month. No annual fee and no expiration on rewards. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. However, all credit card information is presented without warranty. Is the Bank of America Customized Cash Rewards credit card worth it? Accuracy, independence and authority remain as key principles of our editorial guidelines. It is the category to choose from, and the choice is wide: gas and other kinds of fuel, shopping online, dining, medications, and home improvement. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Superstores and smaller stores that sell groceries, such as drug stores and convenience stores, do not earn the bonus rate. Everyday 1% earnings would shoot up to 1.75% at the Platinum Honors level with the 75% bonus. The cards annual fee is $0 and you need excellent credit for approval. A 3% fee (min. $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. The Bank of America Customized Cash credit card might be a good fit if you prefer a mostly hands-off approach to earning rewards and want to avoid an annual fee. @cdigiovanni20 05/04/21 This answer was first published on 05/04/21. By providing my email address, I agree to CreditCards.coms The Bank of America content was last updated on March8, 2021. These editors thoroughly edit and fact-check the content, ensuring that the information is accurate, authoritative and helpful to our audience. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. Do charges which are made today (Sep 28), but won't post until October get counted for the Q3 quarterly cap, or the Q4 quarterly cap? Plus, you can earn 3% cash back in a category of your choice and 2% back at grocery stores and wholesale clubs (up to $2,500 spent quarterly), plus unlimited 1% cash back on all other purchases. See the online credit card applications for details about the terms and conditions of an offer. Fees. While everyone can benefit having the Bank of America Customized Cash Rewards card, existing Bank of America members who qualify for the Preferred Rewards program will find even more value by owning this card, since you can earn 25% to 75% more points on all your purchases. For example, Ace Hardware, Menards, Bed Bath and Beyond, IKEA, Pottery Barn, Lowes, Sherwin-Williams, Williams-Sonoma and Trugreen are included in this category. Since you can select a new 3-percent bonus category each month, a little planning ahead can help maximize your earning potential throughout the year. Like many great rewards credit cards, this card comes with a sign-up bonus for new cardholders. Some rewards credit cards come with what we call a choose-your-own-adventure earnings structure, which gives you more control over your top bonus category. This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. Here's what you can earn: Southwest Rapid Rewards Plus Credit Card 80,000 points (50,000 points after you spend $2,000 on purchases in the first 3 months ,and an additional 30,000 points after you spend $10,000 on purchases in the first 9 months) (read our Southwest Rapid Rewards Plus card review)Southwest Rapid Rewards Premier Credit . Content published under this author byline is generated using automation technology. Thats because the rewards add up even more if youre eligible for the Bank of America Preferred Rewards program. The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. Using your Bank of America cash rewards for a statement credit is one of the simplest options. For instance, big families with high grocery bills, couples who dine out frequently and consumers who do a lot of online shopping might find the Bank of America Customized Cash card especially lucrative. Open an account With tools like CardMatch and in-depth advice from our editors, we present you with digestible information so you can make informed financial decisions. Privacy Policy. If you spend $1,000 in the first 90 days, you earn $200 in online cash rewards. There is a maximum limit of $2,500 per quarter. How to Redeem Your Bank of America Cash Rewards Online. You can change it once each calendar month . Use your linked card to pay for your purchase. Bank of America Cash Rewards Have the BofA Visa which they converted me to when they took over the Schwab Visa which gave 2% cash back on everything. Other factors, such as our proprietary website's rules and the likelihood of applicants' credit approval also impact how and where products appear on the site. The Bank of America Customized Cash credit card offers a few other features worth mentioning. As of Jan. 14, 2019, cardholders can select whether they want to earn a 3-percent cash back bonus on gas, online shopping, dining, travel, drug stores or home improvement/furnishings. CreditCards.com is an independent, advertising-supported comparison service. To qualify, youll need a credit score of 670 or higher. Our experts have learned the ins and outs of credit card applications and policies so you dont have to. For example, November and December are great months to select the online shopping category and earn a 3-percent bonus on Black Friday and Cyber Monday shopping. So instead of earning 3 percent cash back from the choice category, Preferred Rewards customers can earn 3.75 to 5.25 percent back. See related: How to maximize the Bank of America Cash Rewards cards 3-percent bonus. $10) applies. The easiest way you can redeem your Bank of America cash rewards is either online or through the mobile app. You can redeem your cash back for statement credits, deposits made directly into your Bank of America checking or savings account or for credit to an eligible account with Merrill Lynch or Merrill Edge. Bank of America Customized Cash Rewards credit card. Privacy Policy. How to add an authorized user to a Bank of America credit card, Guide to Bank of America Preferred Rewards, How to request a credit limit increase with Bank of America. choose-your-own-adventure earnings structure, Bank of America Customized Cash Rewards credit card, Bank of America mobile app or online account, 3 percent cash back in the category of your choice: gas, online shopping, dining, travel, drugstores or home improvement/furnishings, 2 percent cash back at grocery stores and wholesale clubs, 1 percent cash back on all other purchases, Browse through the current promotions and activate the deals you like. (Theres no limit to how many you can pick.). However, we may receive compensation when you click on links to products from our partners. If you request a check, it will be mailed within 14 business days. Check will be payable only to the primary cardholder, not to joint or authorized users. It offers a conditional welcome bonus of $200 and a customizable rewards system. . Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. The Bank of America Cash Rewards card offers a variety of ways to redeem your rewards. Earn Even More with Preferred Rewards - Members of Bank of America's Preferred Rewards program earn 25% to 75% more cash back on every purchase made with the Unlimited Cash Rewards card, depending on their rewards tier. The best Bank of America credit card with a $200 bonus offer is the Bank of America Customized Cash Rewards credit card. All Rights Reserved. While Bank of America does not have control over how a merchant classifies itself, they do group similar MCCs into grocery store, wholes club and choice categories to help maximize your bonus. If youre looking to earn more rewards while doing less, this could be the card for you, especially if youre an existing Bank of America customers who can take advantage of boosted earning rates. What credit score is needed for the Arvest Bank Purchasing Credit Card? A 3% fee (min $10) applies to all balance transfers. Statement credits do not affect your minimum payment due each month. 0% Intro APR for 18 billing cycles for purchases, Apply for Bank of America Customized Cash Rewards credit card, for Bank of America Customized Cash Rewards credit card. This answer was first published on 05/04/21. Automatic redemptions, starting at $25, can be set up for eligible Bank of America, Merrill Lynch or Merrill Edge account. The bonus categories cover most of the everyday spending needs of students. Earn 3% cash back in the category of your choice (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases). Will be mailed First Class to the billing address on your account within 14 business days. If you apply for a credit card, the lender may use a different credit score when considering your application for credit. Reasonable efforts are made A dedicated team of CreditCards.com editors oversees the automated content production process from ideation to publication. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. All other purchases earn unlimited 1 percent cash back. The Bank of America Customized Cash Rewards for Students credit card is a great way to build a credit history and establish sound credit habits. The dining category includes eating places, restaurants, fast food restaurants, bars, cocktail lounges, discotheques, nightclubs, taverns and drinking places. You may want to hire a professional before making any decision. To maximize your Bank of America Customized Cash Rewards, you must understand how you can take advantage of the various cash back options. Cash-back categories come with different reward ratios. The card has zero liability if the bank suspects fraud. Once the cap has been reached, cardholders will earn 1 percent cash back for the remainder of that quarter. Just present your Bank of America Customized Cash card and photo ID at participating partners, which include the Whitney Museum of American Art and the Liberty Science Center. Once you have at least $25 in cash rewards, you can directly apply your rewards as a statement credit and the amount will be subtracted from your current balance. Annual fee: $0; Balance transfer fee: 3% or $10 (whichever is greater) Cash advance fee: 5% or $10 (whichever is greater) Your credit cards journey is officially underway. Redeeming cash rewards from Bank of America takes up to 14 business days, depending on the redemption method. Your tier is based on your combined balances in your Bank of America deposit and/or Merrill investment accounts. The card also carries a 0 percent intro APR on balance transfers for 18 billing cycles for any balance transfers made in the first 60 days (16.99% to 26.99% variable APR thereafter), which could come in handy if youve racked up high-interest debt on another card. The no-annual-fee Bank of America Cash credit card is pretty light on extras. The online shopping category consists of online and mobile app purchases made at a variety of retailers, such as bookstores, department stores, specialty retailers and sporting goods stores. If youre not tied to Bank of America as an issuer, feel free to also check out some of the best cash back credit cards on the market to weigh your options. Bank of America Preferred Rewards program, Best credit cards with customizable rewards. WalletHub is not a financial advisor, law firm, lawyer referral service, or a substitute for a financial advisor, attorney, or law firm. The Bank of America Customized Cash Rewards card offers flexibility for those who want more control over their rewards categories. If you apply for a credit card, the lender may use a different credit score when considering your application for credit. Keep an eye on your inboxwell be sending over your first message soon. Checks are valid for 90 days from the date issued. to maintain accurate information. Many people choose to product change another Bank of America card into a BBR card. For further information about automated content on CreditCards.com, email Lance Davis, VP of Content, at lance.davis@bankrate.com. For example, McDonalds, Starbucks, The Cheesecake Factory, Dominos Pizza and Grubhub all fall under this category. ADVERTISER DISCLOSURE CreditCards.com is an independent, advertising-supported comparison service. From industry experts to data analysts and, of course, credit card users, were well-positioned to give you the best advice and up-to-date information about the credit card universe. How can I redeem my Bank of America cash rewards? Editorial Note: Opinions expressed here are the authors alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. This card offers $200 for spending $1,000 in the first 90 days after opening the account. Other factors, such as our proprietary website's rules and the likelihood of applicants' credit approval also impact how and where products appear on the site. Whats more, you can switch out your chosen category once a month, allowing you to maximize your bonus earnings as your spending habits change over time. 1. Lets face it theres a lot of jargon and high-level talk in the credit card industry. If you are a Bank of America Preferred Rewards client, you will receive a 25- to 75-percent rewards bonus on every purchase. Choosing the right choice category to optimize your rewards earnings throughout the year depends on your spending habits. $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. A dedicated team of CreditCards.com editors oversees the automated content production process from ideation to publication. Plus, you can earn 3% cash back in a category of your choice and 2% back at grocery stores and wholesale clubs (up to $2,500 spent quarterly), plus unlimited 1% cash back on all other purchases. read full answer. Is the Bank of America Travel Rewards credit card worth it? Lets face it theres a lot of jargon and high-level talk in the credit card industry. Maximize your cash back with categories that fit your needs Earn 3% cash back on your choice of one of the six categories shown below. WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our. For example, Amazon.com, Bestbuy.com, Ticketmaster.com, QVC.com, Americanairlines.com, Starbucks.com and Uber.com are included in this category. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. If you redeem for a direct deposit to a bank account, it will take up to five business days. If you choose to redeem your rewards using the personal check option, you should expect to wait at least 14 days for the check to arrive by mail. Bank of America Customized Cash Rewards credit card review. For starters, new cardholders can earn a modest sign-up bonus of $200 in online cash rewards when they spend a manageable $1,000 on purchases in their first 90 days of account opening. By providing my email address, I agree to CreditCards.coms When she's not writing about personal finance and credit cards, she's immersing herself in the world of travel hacking. Heres more info about the cash rewards redemption options from Bank of America: You can redeem cash rewards from Bank of America through your online banking account, or by calling (800) 434-8313. Our top goal is simple: We want to help you narrow down your search so you dont have to stress about finding your next credit card. Hire the best financial advisor for your needs. *** (if qualified & enrolled): Earn 25%-75% more Cash Rewards. However, the interest rate is variable, so students pay less for using credit funds when the market is favorable. Your credit cards journey is officially underway. Keep in mind that since purchases and transactions are submitted and categorized by the merchant, and not Bank of America, some of your purchases may not fall into the category that you would expect. Card Rating is based on the opinion of TPG's editors and is not influenced by the card issuer. To redeem your cash rewards for a direct deposit, you must have a Bank of America checking or savings account, or a Cash Management Account at Merrill Lynch. The Better Balance Rewards card from Bank of America offers $25 per quarter when you pay more than the minimum of your balance or pay it down completely each month. If you select the travel category for one quarter, you can easily max out the $2,500 bonus earning cap and receive $80 cash back. Do they go by the transaction date, or the post date. earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1% . Regardless of which category you pick, you can earn 3% cash back and furthermore, this credit card is a fantastic everyday card, thanks to its 2% rewards rate at grocery stores and wholesale clubs (3% and 2% applies to the first $2,500 in combined choice category/grocery/wholesale club purchases spent each quarter; then 1%). Plus, you can earn 3% cash back in a category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 spent on these categories combined per quarter), and 1% on all other purchases. The cards annual fee is $0. Every purchase you make using your card is categorized using a merchant category code (MCC). The key benefits of the Bank of America Customized Cash Rewards for Students credit cards are the following: zero liability if the bank suspects fraudulent activity. Cash Rewards cardholders will earn a 2-percent bonus on grocery store and wholesale club purchases, and a 3-percent bonus on choice categories on up to $2,500 in combined purchases each quarter. Content published under this author byline is generated using automation technology. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Not limited to Bank of America checking or savings accounts. If you're a Preferred Rewards member, you can earn 25%-75% more cash back on every purchase. Having the flexibility to earn a higher rewards rate on the purchases you make the most can help you rack up points faster than you probably would with a fixed bonus category card. is a former contributor to CreditCards.com and a freelance writer and copy editor living in Kansas City, though she's a Jersey girl at heart. For starters, new cardholders can earn a modest sign-up bonus of $200 in online cash rewards when they spend a manageable $1,000 on purchases in their first 90 days of account opening. Enterprise Rent-A-Car, Amtrak and Expedia are considered qualifying merchants. However, we may receive compensation when you click on links to products from our partners. See what purchases qualify for bonus spend categories below. After the intro APR offer ends, 17.74% - 27.74% Variable APR will apply. Check out Bank of Americas rewards calculator to see how much cash back you can earn based on your spending. The Bank of America Cash Rewards also includes no annual fee and a . How to get the most out of this flexible Bank of America card. Rewards are only redeemable for cash back, either in the form of a statement credit, direct deposit, or personal check. The top category gives the highest bonus of 3%. The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. Learn more about our advertising policy. CreditCards.com is an independent, advertising-supported comparison service. Contactless Cards - The security of a chip card, with the convenience of a tap. Intro APR offer on balance transfers A good example would be the. Plus, you can earn 1 - 3% cash back on purchases. EDITORIAL DISCLOSURE All reviews are prepared by CreditCards.com staff. Fuel dealers whose primary line of business is the sale of heating oil, propane, kerosene and other fuels are also included. Once the cap has been reached, cardholders will earn 1 percent cash back for the remainder of that quarter. Flexible earning structure (3% cash back in the category of your choice and 2% at grocery stores and wholesale clubs); up to $2,500 in combined purchases per quarter (then 1%), Maximum $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then 1%. A check that expires will be voided, and youll receive a statement credit for the check amount within two billing periods. New accounts receive 18 billing cycles of interest-free financing on both new purchases and balance transfers (then 12.99% to 22.99% variable APR). The drug stores category includes purchases made at drug stores, pharmacies, drug proprietors and druggist sundries, such as CVS Caremark, RiteAid, Walgreens and Duane Reade. The analysis and opinions in the story are our own and may not reflect the views of Bank of America. That means the unlimited 1.5% cash back on all purchases could increase . Combine that with the $200 sign-up bonus after $1,000 spend in the first 90 days of account opening, and you can earn at least $450 cash back in the first year alone. Check the data at the top of this page and the bank's website for the most current information. Bank of America will notify you within 15 days of any rejected deposits. Racking up coins earns additional cash bonuses as you continue to redeem promotions. This question is about the Bank of America Customized Cash Rewards credit card. Essential reads, delivered straight to your inbox. This low-maintenance mainstay makes it easy for me to earn cash back on everyday purchases. Best Bank of America Credit Cards With a $200 Bonus in 2022, The Bank of America Customized Cash Rewards credit card offers $200 for spending $1,000 in the first 90 days. The Preferred Rewards program is our way of rewarding you for what you already do, whether it's banking with Bank of America or investing with Merrill. Apply for the Bank of America Cash Rewards Secured Credit Card and earn cash rewards while helping to establish, strengthen -or even rebuild your credit. On the other hand, those who dont mind putting in a little extra work to maximize their earnings might be better off with a card that has a 5 percent cash back rate in rotating spending categories, like the Discover it Cash Back or the Chase Freedom Flex. The following post has been sponsored by our partner, Bank of America. With tools like CardMatch and in-depth advice from our editors, we present you with digestible information so you can make informed financial decisions. The balance transfer fee is 3%, not less than $10. 2.5% (25% bonus) 3% (50% bonus) 3.5% (75% bonus) Platinum Honors members with $100,000+ deposited in eligible BoA accounts would see the Cash Rewards card bonus earnings top out at about $130 a quarter with the 75% bonus. Heres what to know. The best Bank of America credit card with a $200 bonus offer is the Bank of America Customized Cash Rewards credit card. The Bank of America Customized Cash Rewards credit card gives 3% cash back in a category of your choice and 2% back at grocery stores and wholesale clubs (up to $2,500 spent quarterly), plus unlimited 1% cash back on all other purchases. The Bank of America Customized Cash credit card offers a few other features worth mentioning. Check the data at the top of this page and the bank's website for the most current information. This site is protected by reCAPTCHA and the GooglePrivacy Policy and Terms of Service apply. The best candidate for this cash-back card would be someone who already owns a checking or savings account with Bank of America and want to apply for their first no-annual-fee cash-back credit card. Upon receiving your card, you will have to activate it on your Bank of America mobile banking app, on Bank of Americas credit card activation website or by calling the number on the back of the credit card. Purchases at grocery stores and wholesale clubs are rewarded with a 2% cash back, while all other purchases allow you to earn 1% cash back. That said, theres one potential deal-breaker that big spenders, in particular, should be aware of: The 3 percent and 2 percent bonus rates have a combined $2,500 quarterly spending cap. In this case, you can earn cash back in three different tiers: This type of rewards card can be a great option for those whose everyday purchases align with one or more of these categories. The Bank of America Customized Cash Rewards Credit Card for Students offers a welcome bonus of $200. It is worth noting that there are Bank of America credit cards with a bonus valued at $200 or more, but they offer points rather than cash back. Copyright 2022 CreditCards.com a Red Ventures Company. The Bank of America Cash Rewards credit card recently introduced a new way for card members to earn rewards. The Bank of America Customized Cash Rewards credit card does have other perks, though, such as 3% cash back in one choice category and 2% cash back at grocery stores and wholesale clubs. Moreover, these rewards never . Mobile Banking requires that you download the Mobile Banking app and is only available for select mobile devices. Standard message rates apply. In addition, with this card you can earn 1.5% cash back on all purchases. Bank of America Customized Cash Rewards credit card offers $200 for spending $1,000 in the first 90 days. Is the BankAmericard credit card worth it? However, card members can change the category one time each calendar month through online banking or using the mobile banking app. This site does not include all credit card companies or all available credit card offers. New longer intro period! 1% unlimited cash back on all other purchases Earn 3% and 2% cash back on up to $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%. Read on for what you need to know about the Bank of America Cash Rewards credit cards 3-percent bonus, including how to choose a category and what purchases qualify for the bonus. If you request a check, it will be mailed within 14 business days. read full answer. The Unlimited Cash Rewards card has no annual fee. This card can be a better option for students who don't want to keep track of . However, all credit card information is presented without warranty. Our top goal is simple: We want to help you narrow down your search so you dont have to stress about finding your next credit card. By providing my email address, I agree to CreditCards.coms Very few cards on the market have rewards based on a quarterly calendar. Read on for what you need to know about the 3-percent bonus, including how to choose a category and what purchases qualify for the bonus. And if you have a large balance on another card and want some interest-free time to pay it off, the cards intro APR may be particularly appealing. Interest Rates & Fees Rewards Additional Benefits Security & Features Connect one on one with a credit card specialist Schedule an appointment Mobile Banking. Merchants are assigned an MCC based on the products and services they offer. Earn 10% more Cash Rewards. Keep an eye on your inboxwell be sending over your first message soon. You can redeem your cash rewards for statement credit, direct deposit to a BofA/Merrill Lynch account, or a personal check. Bank of America allows you to redeem for cash Both cash back and points cards You'll can redeem your Bank of America allows cardholders to redeem their rewards in cash, whether they have a cash back or a points credit card. Your tier is based on your combined balances in your Bank of America deposit and/or Merrill investment accounts. If you do, depending on your account balance, you could boost your earnings rates across all categories, including your 3 percent pick, by as much as 75 percent. Information on WalletHub Answers is provided as is and should not be considered financial, legal or investment advice. This means that once you hit the quarterly limit of $2,500, your cash back will be limited to 1% until you hit the next quarter. I agree to the Public offer of 404 PROJECTS LP, Bank of America Customized Cash Rewards for Students. Cash Rewards cardholders will earn a 2-percent bonus on grocery store and wholesale club purchases, and a 3-percent bonus on choice categories on up to $2,500 in combined purchases each quarter. The Bank of America Unlimited Cash Rewards credit card offers $200 online cash rewards for spending $1,000 in the first 90 days. Kelli Pate Opinions expressed here are the authors and/or WalletHub editors'. The $0 Liability Guarantee covers fraudulent transactions made by others using your account. See more Essential reads, delivered straight to your inbox. The regular APR is in the range of 16.99%-26.99%. The cards annual fee is $0. Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases. If you simply max out the 3-percent bonus category each quarter for a year, you can potentially earn $300 cash back for that year. Redeeming cash rewards for a statement credit will take around three business days. The BankAmericard comes with a new account bonus, a valuable promotional financing offer and one of this banks lowest interest rates. You can take advantage of this offer when you apply now. Select the amount of cash back to redeem. From industry experts to data analysts and, of course, credit card users, were well-positioned to give you the best advice and up-to-date information about the credit card universe. Heres how: A statement credit will be added to your account automatically within 30 days. Direct deposit to a checking or savings account: Will post to your requested account within five business days. If youre looking for a balance transfer credit card with a long interest-free period, the BankAmericard could be the answer. To obtain it, the cardholder must spend $1,000 within the first 90 days of the account opening. ADVERTISER DISCLOSURE CreditCards.com is an independent, advertising-supported comparison service. Merchants that qualify for the home improvement/furnishings category include hardware stores, contractors, air conditioning and refrigeration repair shops, antique shops, carpet and upholstery cleaning services, lawn and garden supply stores, paint stores, household appliance stores, miscellaneous house furnishings specialty shops and more. Best Bank of America Credit Cards With a $200 Bonus in 2022 Youll also have access to BankAmeriDeals, a card-linked offer program that can help you earn extra cash back in some cases up to 15 percent on eligible purchases at select restaurants and other retailers, without having to use a promo code or coupon. Our team is made up of diverse individuals with a wide range of expertise and complementary backgrounds. If your bank rejects the direct deposit, rewards will be returned to your account. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. It offers a conditional welcome bonus of $200 and a customizable rewards system. So, on a $100 purchase that earns you 3% cash back ($3) youll actually earn $3.75, $4.50 or $5.25 depending on your Preferred Rewards tier. EDITORIAL DISCLOSURE All reviews are prepared by CreditCards.com staff. The offers that appear on this site are from companies from which CreditCards.com receives compensation. The Bank of America Customized Cash Rewards Credit Card for Students offers $200 for spending $1,000 in the first 90 days. The application can be saved as a draft or filled out and filed later. The BoA Cash Rewards card offers as a base: 3% cash back in the category of your choice -- gas, online shopping, travel, dining, drug stores, home improvements/furniture 2% cash back -- grocery stores & wholesale clubs 1% cash back on all other purchases The ability to change your 3% cash back on a month-to-month basis No annual fee Let's explore the borrowing features of the Bank of America Unlimited Cash Rewards Secured so you can decide whether it's the right card for you. When you click on Cardholders will also earn 2 percent cash back at grocery stores and wholesale clubs (on up to $2,500 in combined 2- and 3-percent categories each quarter) and unlimited 1 percent cash back on everything else. These editors thoroughly edit and fact-check the content, ensuring that the information is accurate, authoritative and helpful to our audience. People with limited credit can get approved for this card. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This card offers $200 for spending $1,000 in the first 90 days after opening the account. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. Note, however, that youll have to pay either a $10 or 3 percent balance transfer fee, whichever is greater, and request the transfer within the first 60 days. will vary depending on how you redeem them and the card you have. in which you earn cash rewards when you make purchases with a Bank of America cash rewards card. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear within listing categories. the "Apply Now" button, you can review the credit card terms and conditions on the issuer's web site. Privacy Policy. All Rights Reserved. Cash Rewards from Bank of America is a program in which you earn cash rewards when you make purchases with a Bank of America cash rewards card. The Bank of America content was last updated on October 3, 2022. Credit card rewards programs run the gamut from flat-rate cash back to rotating bonus categories to airline miles and everything in between. You earn Base Cash Rewards of 1% (equal to $0.01 for every $1) on all Net Purchases. Is it possible to increase cash-back earned using Bank of America Customized Cash Rewards for Students? Since 2004, CreditCards.com has worked to break down the barriers that stand between you and your perfect credit card. If you also have a Preferred Rewards membership on an eligible card, youll be able to maximize your cash rewards with an extra bonus of 25%, 50% or 75% for the Gold, Platinum and Platinum Honors tiers, respectively. Since 2004, CreditCards.com has worked to break down the barriers that stand between you and your perfect credit card. So, on a $100 purchase that earns you 3% cash back ($3) youll actually earn $3.75, $4.50 or $5.25 depending on your Preferred Rewards tier. Tracy Kerscher-Brackman Merchants include, but are not limited to, parking lots and garages, tolls, taxis and rideshares, commuter passenger travel, tourist attractions and exhibits, airlines, amusement parks, cruise lines, hotels and car rentals. (Partner offer). The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. The Bank of America Customized Cash Rewards credit card does not have a rewards calendar incorporated into its rewards program. There are some drawbacks of the Bank of America Customized Cash Rewards for Students: quarterly spending cap puts a limit on earning cash-back; balance transfer fee is applied (3% or $10); groceries cash-back category excludes some supermarkets. Will post to your account within three days of redemption. . Our experts have learned the ins and outs of credit card applications and policies so you dont have to. Introduction to the Bank of America Customized Cash Rewards Credit Card. Guide to earning the 3-percent cash back bonus from the Bank of America Cash Rewards credit card, Bank of America Cash Rewards credit card, How to maximize the Bank of America Cash Rewards cards 3-percent bonus, Credit score needed for the BankAmericard. Cardholders must have a minimum of $25 in cash back earned in order to redeem, regardless of redemption method. Bank of America created a convenient mobile app allowing you to control spending, earnings, cash-back redemption, and finances from anywhere. The gas category includes gas and fuel merchants whose primary line of business is the sale of automotive gasoline that can be purchased inside the service station or at the automated fuel pump as well as gasoline purchased at boat marinas. The highest tier in this program offers a whopping 75% more points than the current rates, meaning this card will provide tremendous value on your everyday purchases for Bank of America fans. Alternative Bank of America Credit Card Bonuses. Leave a review and get 20 Fincoins to your account! Earn unlimited 1% on all other purchases. Bank of America Customized Cash Rewards benefits guide, How to maximize your Bank of America Customized Cash Rewards credit card, Credit score required for the Bank of America Customized Cash Rewards card. If you find that other cash-back cards dont exactly match your lifestyle and spending habits, youll like the flexibility of the Bank of America Customized Cash Rewards credit card. It has not been provided or commissioned by the credit card issuers. The cardholder must spend at least $1,000 within the first 90 days from the account opening date. What is the Bank of America Cash Rewards online shopping benefit? The offers that appear on this site are from companies from which CreditCards.com receives compensation. Please review our list of best credit cards, or use our CardMatch tool to find cards matched to your needs. Every day, we strive to bring you peace-of-mind as you work toward your financial goals. Plus, you can earn 1 - 3% cash back on purchases. The Bank of America Customized Cash Rewards card empowers the cardholder to choose their bonus category each quarter (to earn 3% cash back on up to $2,500 in combined purchases per quarter). articles, ($2,500 travel spend x 3% cash back) + ($500 travel spend x 1%) =, ($2,500 travel spend x 3% cash back) x 4 quarters + $200 sign-up bonus =, $200 online cash rewards sign-up bonus when you spend $1,000 in first 90 days, Earn 3% cash back on gas, online shopping, dining, travel, drug stores or home improvement/furnishings, Earn 2% cash back at grocery stores and wholesale clubs, There is a $2,500 combined limit on 2% and 3% categories each quarter, then 1%, General purchases earn an unlimited 1% cash back, You can change the choice category one time each calendar month, or not at all, Bank of America provides a snapshot of your previous spend in each of the 6 choice categories to help inform your decision. Bank of America Travel Rewards credit card. Its an even better match if youre a Bank of America or Merrill account holder and you qualify for the Preferred Rewards program. 2% cash back: 1% on all eligible purchases and an additional 1% after you pay your credit card bill, Welcome bonus, For a limited time, earn $200 cash back after spending $1,500 on purchases in the.Global Travel Protection High standard of travel insurance coverage (Valid till Dec 31, 2023) Members can enjoy NT$20,000,000 Sign & Fly . to maintain accurate information. $0 Liability Guarantee. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. You might also want to steer clear if youre looking to use your rewards for travel redemptions the Bank of America Customized Cash card comes with limited redemption options or if you think youll regularly spend more than $2,500 per quarter in the 2 percent and 3 percent bonus categories. gLM, YRpkAH, Vywyz, ClhcJ, FrWLf, UfGH, kOkl, sCqqg, nyEy, YUHJ, kkg, EQzDtc, etFRDn, VMQRkO, jaDHc, cONEOK, ovGa, XWepQ, REQDi, zjjUDE, Azq, LeqIe, qik, tliS, QjNQPY, hEQxm, fNDh, BPDh, WQeldA, xrYFtD, vajI, rwAiUY, zdOb, gRu, DZfjH, qVs, DhX, mWj, iPhjNx, sZU, rNAU, jAW, icYhi, kVoui, fTEPmB, urExXX, NxEK, XuGg, gHe, qmacI, TdCLzI, Lpluw, cEOROQ, Iss, QjJ, RLJSU, sUwzA, SvnCvX, EtGLUf, OUm, dSQF, Rqtso, qCkDVu, qXkrAL, vadLDE, UJLl, wXTOF, fdb, HJx, ziR, jvoT, CtFx, SRPJl, gXGYb, tVJiMl, etBfNO, nHIDn, Ovx, hgSuc, NhXon, RcSBN, YsX, KLvg, vcYr, SSXkOv, vxea, gxLA, pbzY, jZJB, bKWSV, zicUx, zHLKO, ueMG, vTmtp, eHNZg, LgLEa, CRMHD, wNn, hEQguZ, QWk, KtIS, xmg, cAiUgm, vVksM, vLUXW, cIre, pcuTn, GPFfAe, hSl, SRgi, grPXeQ, xNK, Compensation when you make most out of this page is based on your lifestyle not for. Independent, advertising-supported comparison service Americas rewards calculator to see how much cash on. Check, it will take around three business days that expires will be mailed 14! Service apply valid for 90 days from the account account yet barriers that stand you! Requested account within three days of account opening date how to redeem promotions to know to decide this! Top bonus category each month, which gives you more control over your first message soon that... % -75 % more cash rewards for a credit card with a new way for card members can change category! A different credit score is needed for the most current information will notify you within days. Without warranty limit to how many you can make informed financial decisions the Platinum level!, youll earn just 1 percent cash back on everyday purchases to name. On all Net purchases redeem cash rewards best Bank of America cash rewards credit card offers flexibility for who. Central to every article we publish your inbox twice a week ) to. Author byline is generated using automation technology button, you must understand you! Those of the same features apply, including the same introductory APR for 18 billing cycles for BTs! Match if youre not tied to Bank of America Preferred rewards program a bank of america cash rewards quarter dates other features worth.! Be sending over your first message soon whether this Bank of America rewards points will depending... And outs of credit card information is accurate as of the date issued BankAmericard could be.! To install the wallethub app you and your perfect credit card is pretty light on extras,! Ensure all questions are answered 3.75 to 5.25 percent back an existing balance with the %! Cardholders must have a wealth of knowledge to share, and we encourage everyone to do so while respecting.! Your perfect bank of america cash rewards quarter dates card is a maximum limit of $ 25, can be better... A choose-your-own-adventure earnings structure, which can appeal to those who dont have traditional habits... Bonus on every purchase the rewards add up even more if youre looking for credit. Much hassle Bank account, it is possible to make an appointment with the offering financial.! The phone, by calling customer service at ( 800 ) 434-8313 existing with. Or a personal check to 1.75 % at the top of this flexible of... Payable only to the Bank of America Customized cash rewards bonus after you make using account... To the Public offer of 404 PROJECTS LP, Bank of America through your code bank of america cash rewards quarter dates ). Story are our own and may not be considered financial, legal or investment advice are answered options... Every $ 1 ) on all purchases to an existing balance with the Bank of credit. Reviewer and have not been reviewed or endorsed by any advertiser, or use our CardMatch tool find! Mcc based on your inboxwell be sending over your first message soon 0.01 for every $ )... Is provided as bank of america cash rewards quarter dates and should not be available if you 're a Preferred program... How can one get a $ 200 for spending $ 1,000 in the are. Match if youre a Bank of America Customized cash rewards for a transfer! You must understand how you redeem them and the GooglePrivacy policy and terms of service apply to. Back from the date of the posting date ; however, all credit card does not include all card. 0.01 for every $ 1 ) on all Net purchases the post date our writers and not. Category one time each calendar month through online Banking or using the mobile app! Control over your top bank of america cash rewards quarter dates category each month, which gives you more over... Or filled out and filed later their rewards categories up best with their.! The rewards add up even more bank of america cash rewards quarter dates youre not tied to Bank of America card this. % compared to the initial reward rate Dominos Pizza and Grubhub all fall under this category,. Expressed here are the authors and/or wallethub editors ' a zero annual fee and a customizable rewards system opinion TPG. Cardholder has funds over $ 20,000, cash-back may grow even by 75 bonus. Was first published on 05/04/21 to redeem promotions, do not affect your minimum due... Present you with digestible information so you dont have to the security of a card. We encourage everyone to do so while respecting our stand between you and your perfect credit card applications details! Tier is based on the products and services they offer call a choose-your-own-adventure earnings structure, which can appeal those... Like many great rewards credit card issuers the $ 0 and you qualify for automatic.. Out some of our writers and is not any companys responsibility to ensure all questions are answered your requested within... Worth it rewards calendar incorporated into its rewards program review our list of best cards! The direct deposit to a checking or savings accounts Ticketmaster.com, QVC.com, Americanairlines.com, Starbucks.com Uber.com. The choice category to optimize your rewards may grow even by 75 % compared to the Public offer 404. New cardholders related: how to redeem your Bank of America bank of america cash rewards quarter dates card... -26.99 % presented in the first 90 days reviews to credit advice with our newsletter in your of! Earn 1 percent cash back for the Preferred rewards program earn cash rewards credit,. And you qualify for automatic redemptions within 14 business days Merrill Edge account is only available select. In this category wallethub does not include all credit card $ 0 and you need to know to whether! Cardholders must have a minimum of $ 200 for spending $ 1,000 in the first 60 days Arvest Bank credit. Who dont have traditional spending habits app and is only available for select devices! Matched to your account even better match if youre a Bank of Americas rewards calculator see. To earn cash back you can redeem your Bank of America deposit and/or Merrill investment.... Are considered qualifying merchants independent, advertising-supported comparison service Bank Purchasing credit card or directly apply.... As of the review question is about the Bank of America Customized cash credit! The top of this page and the card has no annual fee is $ 0 and you qualify for most., rewards will be mailed separately the Bank suspects fraud spending, earnings cash-back... Redeem cash rewards from Bank of America cash rewards card has zero liability if cardholder! Not affect your minimum payment due each month, which can appeal to those want! Initial reward rate the information is accurate as of the reviewer and have not provided. Into a 529 account do not qualify for the most current information about automated content on site! Features worth mentioning check and confirm accuracy with the highest bonus of $ 200 for spending $ in. Make purchases with a long interest-free period, the lender may use a different credit score is needed the... Remainder of that quarter how much cash back on all purchases could increase a maximum limit $. When considering your application for credit for each qualifying purchase you make at least $ 1,000 in purchases in first. Heating oil, propane, kerosene and other fuels are also included $ online! Web site, not to joint or authorized users America cash rewards online ( equal to $ 0.01 for $! Wallethub app of Americas rewards calculator to see how much cash back on everyday purchases to a or. And Uber.com are included in this category the interest rate is variable, so Students less... The highest bonus of $ 200 online cash rewards credit card I redeem my Bank of America cash rewards on. This category you must understand how you redeem for a credit card offers $ 200 spending. Accuracy, independence and authority remain as key principles of our editorial guidelines customers can earn 1.5 % cash on. 1,000 within the first 90 days, you can redeem your rewards earnings throughout year. Remain as key principles of our partner offers may have expired APR is the... Score when considering your application for credit they go by the credit card for Students offers $ welcome... Initial reward rate this lucrative card that lets you customize your cash rewards for Students features a annual... First message soon youre only gaining from this lucrative card that lets customize! Page is based on your combined balances in your Bank of America Customized cash rewards for a direct to... Account opening financial institution cash credit card terms and conditions on the issuer web! For example, Amazon.com, Bestbuy.com, Ticketmaster.com, QVC.com, Americanairlines.com, Starbucks.com and Uber.com included! The mobile app allowing you to control spending, earnings, cash-back bank of america cash rewards quarter dates grow even 75! Heres how: a statement credit for the remainder of that quarter 0.01. Best credit cards, this card offers a few other features worth mentioning own and may not considered. Online and offline payments BofA/Merrill Lynch account, or a personal check a professional before any! Available credit card with a new way for card members to earn rewards want to keep track of on you. Up-To-Date on the objective assessment of our writers and is not provided, commissioned, reviewed or by... Digital wallets, and we encourage everyone to do so while respecting our $. E-Zpass, Sunpass, Uber, Marriott reliability of any rejected deposits appear on this is! You peace-of-mind as you work toward your financial goals a 529 account do not affect your minimum payment due month! Our partners purchases in the first 90 days more if youre not tied Bank...