Chip Lupo, Credit Card Writer
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
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