Yes, the Bank of America® Customized Cash Rewards credit card is a cash back credit card, which gives 1 - 3% cash back on purchases and has an annual fee of $0. The Bank of America Customized Cash Rewards credit card also offers an initial bonus of $200 for spending $1,000 in the first 90 days after account opening. Once you earn cash back on your Bank of America Customized Cash Rewards credit card, you can redeem it for a statement credit, or a deposit into an eligible checking or savings account.
If you’re on the fence about whether or not to apply for the Bank of America Customized Cash Rewards credit card, you can always check out WalletHub’s picks for the best cash back credit cards from various issuers. It’s good to consider multiple cash back credit card options before submitting an application.
Bank of America® Customized Cash Rewards credit card
You can redeem your Bank of America cash rewards in three ways: statement credit, direct deposit to a BofA/Merrill Lynch account, or personal check. Cardholders must have a minimum of $25 in cash back earned in order to redeem, regardless of redemption method.
Using your Bank of America cash rewards for a statement credit is one of the simplest options. 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.… read full answer
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.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.
The best Bank of America credit card with a $200 bonus is the Bank of America® Customized Cash Rewards credit card. It offers $200 for spending $1,000 in the first 90 days after opening the account. That’s one of the best cash back credit card bonuses currently available, and it’s made even better by the fact that the card has a $0 annual fee. In addition, the Bank of America Customized Cash Rewards credit card offers extensive ongoing bonus cash back rewards on purchases: 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
Best Bank of America Credit Cards With a $200 Bonus
Bank of America rewards do not expire as long as the account is open and in good standing. You will forfeit any rewards you have yet to redeem if you or Bank of America closes your account for any reason.
Although Bank of America rewards don't expire until the account is closed, it's still a good idea to redeem your rewards as often as possible. Just bear in mind that Bank of America will not allow you to earn or redeem any rewards whenever you're late making the minimum payments.… read full answer
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