Cameron DiGiovanni, Writer
The Bank of America Customized Cash Rewards credit card APR range is 17.99% to 27.99% Variable. However, the exact interest rate that applicants get will largely depend on their creditworthiness. Applicants with high credit scores, lots of income, and little debt will get the lowest Bank of America Customized Cash Rewards credit card APRs.
The Bank of America Customized Cash Rewards credit card also offers an introductory APR of 0% for 18 billing cycles on new purchases and an intro APR of 0% for 18 billing cycles for any balance transfers made in the first 60 days.
What you should know about credit cards interest rate:
To put these numbers in perspective, the average APR for new credit card offers is 22.15%, according to WalletHub’s latest Credit Card Landscape Report. In addition, the average length of a 0% purchase APR is 12 months, while the average length of a 0% balance transfer APR is 13 months.
All in all, the Bank of America Customized Cash Rewards credit card’s interest rates are pretty decent. But there are better options for people with excellent credit who plan to carry a balance on their credit card.
Bank of America® Customized Cash Rewards credit card
Megan Woodward, Member
The Bank of America Cash Rewards APR can be anywhere from 17.99% to 27.99% Variable, based on your creditworthiness. And if you miss a payment, you could have a penalty interest rate of up to 29.99%. The APR for cash advances is See Terms, but you should absolutely avoid those, because there is no grace period and a cash advance fee will be applied immediately.
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