The Bank of America Cash Rewards 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.
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.
Unlike with some other cards, the Bank of America Cash Rewards 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.