Does Bank of America have a cash back credit card?

The Bank of America Customized Cash Rewards credit card categories are gas, online shopping, dining, travel, drug stores, and home improvement / furnishings. Cardholders get to choose one of these categories for 3% cash back, while also earning 2% cash back at grocery stores and wholesale clubs.

More things to know about the Bank of America Customized Cash Rewards credit card categories:

Those bonus rewards rates are limited to $2,500 in combined purchases in all bonus categories each quarter. Purchases over the quarterly limit, or outside of the designated categories, earn 1% cash back. There’s no limit to how much cash back you can earn overall, and the rewards do not expire, as long as your account remains in good standing.... read full answer

Unlike with some other cards, the Bank of America Customized Cash Rewards credit card categories do not require quarterly activation. Be aware, though, that when you open an account, gas will be the default 3% cash back category. You can change to another category online or through the Bank of America mobile app once per month, but if there’s no change, the existing category will stay the same.

One of the best credit cards with cash back bonus rewards is the Blue Cash Preferred® Card from American Express. It offers a $250 statement credit for spending $3,000 in the first 6 months, plus 6% cash back on groceries (up to $6,000 spent per year) and streaming subscriptions, 3% on gas and transit, and 1% on other purchases.

There are plenty of credit cards that give bonus cash back rewards in certain purchase categories. Cardholders may receive extra value on gas, groceries, dining, entertainment, wholesale clubs and more. Other cards have bonus categories that change every quarter and may require activation, giving you the chance to earn big on different types of purchases every few months.... read full answer

Best Credit Cards with Cash Back Bonus Rewards

Lots of credit cards with cash back bonus rewards on purchases also offer an initial cash rewards bonus for spending a certain amount in the first few months. Plus, it’s good to remember that many credit cards without cash back bonus rates still give a solid cash back rate on all purchases.

The only credit cards that offer 5% cash back on everything are store credit cards, such as the Target Credit Card or the Kohl’s Credit Card, that can only be used at a specific retailer. When it comes to rewards cards that can be used anywhere, quite a few offer 5% cash back on certain purchases but not on everything. Among the best credit cards for 5% cash back on select purchases are Chase Freedom Flex, U.S. Bank Cash+ Visa Signature, Chase Ink Business Cash and the Amazon.com Credit Card.... read full answer

Best Credit Cards with 5% Cash Back:

Chase Freedom Flex: 5% cash back on the first $1,500 spent per quarter in rotating categories. Unlimited 5% cash back on travel purchased through Chase.

U.S. Bank Cash+ Visa Signature: 5% cash back on the first $2,000 in combined purchases in two categories of your choice each quarter.

Chase Ink Business Cash: 5% cash back on the first $25,000 spent on telecom services and office supplies each year.

USAA CashBack Rewards Plus American Express: 5% cash back on the first $3,000 per year in combined gas and military-base purchases.

Amazon.com Credit Card: 5 points per $1 spent on Amazon.com and Whole Foods Market purchases (equivalent to 5% cash back) for Amazon Prime members.

Walmart Rewards Mastercard & Walmart Store Card: 5% cash back on all Walmart.com purchases. 5% cash back on in-store Walmart purchases made with the card through Walmart Pay during the first year.

Target Credit Card: 5% back on all Target purchases.

Kohl’s Credit Card: 5% back on all qualifying purchases at Kohl’s.

As you can see, there are a lot of good 5% cash back credit card offers available; they’re just not offering 5% for everything. But even getting 5% back on some purchases can be extremely lucrative.