Chip Lupo, Credit Card Writer
@CLoop
Yes, the Bank of America Customized Cash Rewards credit card is a good credit card for people with Excellent credit who want to earn 1 - 3% cash back on purchases.
Other features that make the Bank of America® Customized Cash Rewards credit card a good credit card are an introductory APR of 0% for 18 billing cycles on both purchases and balance transfers made in the first 60 days. The card’s regular APR is 17.99% - 27.99% Variable. There is also a 3% balance transfer fee. In addition, the Bank of America Customized Cash Rewards credit card has a $0 annual fee.
Bank of America Customized Cash Rewards credit card Rewards
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- 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're a Preferred Rewards member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.
- No annual fee and no expiration on rewards.
As much as the Bank of America Customized Cash Rewards credit card offers, it does come with some drawbacks. For starters, bonus rewards in your chosen 3% cash back category and other spending categories are limited to the first $2,500 in combined purchases each quarter. Plus, once your introductory APR expires, new purchases and any remaining balance from the introductory period will be subject to a high regular APR.
Bank of America® Customized Cash Rewards credit card
People also ask
What credit score do you need for the Bank of America Cash Rewards credit card?
You need a credit score of 750+ to get the Bank of America Customized Cash Rewards credit card. That means people with excellent credit have a shot at getting approved for this card.
You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Bank of America Customized Cash Rewards credit card, too.
Bank of America Customized Cash Rewards credit card Approval Requirements
- Minimum credit score: 750+ (excellent credit).
- Other factors: Annual income, employment...
Are cash back credit cards worth it?
Cash back rewards cards are worth it because they can help you save money as long as you pay off your balance each month. It is also worth noting that the best cash back credit cards with the highest rewards rates and signup bonuses sometimes have annual fees. In that case, you need to be sure that what you earn will offset the cost of the annual fee (and then some). For cards that have no annual fees, the cash back is...
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