Are Bank of America cash rewards taxable?
4
UpvotesReply
Tom Pytre
No, Bank of America credit card cash rewards are not taxable. The rewards are seen more like a discount than income in the eyes of the IRS.
Bank of America® Customized Cash Rewards credit card
Bank of America® Customized Cash Rewards credit card
$200
online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
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Sponsored Card
Rewards1,282Reviews91Q&AContact
RewardsAPRWalletHub ReviewQ&ACustomer Reviews
$200
online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
Accepted Credit Scores
Accepted Credit Scores
Excellent Credit
Annual Fee
$0
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.
APR on Purchases
0% intro APR for 15 billing cycles, 16.24% - 26.24% Variable APR after that
Balance Transfer
0% intro APR for 15 billing cycles for any balance transfers made in the first 60 days, 16.24% - 26.24% Variable APR after that
Balance Transfer Fee
WalletHub Review
by John Kiernan
August 1st, 2022
Bank of America Customized Cash Rewards credit card Pros & Cons
$200 initial bonus (online exclusive)
Up to 3% cash back
No annual fee
Potential for a very high regular APR
3% foreign-transaction fee
Bank of America Customized Cash Rewards credit card's Additional Info
| cash advance fee | See Terms |
| cash advance APR | See Terms |
| foreign transaction fee | 3% |
| smart chip | Yes, chip-and-PIN |
| max late fee | See Terms |
| max overlimit fee | $0 |
| max penalty APR | 29.99% (V) |
| grace period | See Terms |
0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.24% - 26.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
Contactless Cards - The security of a chip card, with the convenience of a tap.
This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Bank of America Customized Cash Rewards FAQ
Can't find what you are looking for? Submit your question about Bank of America® Customized Cash Rewards credit card to our community. Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this card.
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How much do I get charged if I spend $100?
4
UpvotesReply
Robert Triskel
You don't get “charged” anything. If you pay it back in the same billing cycle, you won't even have interest, or if you're still under 12 months since you opened the account.
Can I do a money transfer with this card?
4
UpvotesReply
WalletHub
Yes, you can do a Same-Day Online cash advance using your BankAmericard Cash Rewards™ Credit Card, which is basically a transfer of funds from your credit card account to your bank account.
I have a rebate card and was trying to find out the balance on it.
4
UpvotesReply
WalletHub
You can see your current balance using online banking. You can enroll into online banking here.
Is Bank of America Cash Rewards a cash back credit card?
3
UpvotesReply
How can I log in to my Bank of America Cash Rewards account online?
3
UpvotesReply
How can I get a Bank of America Cash Rewards virtual credit card?
3
UpvotesReply
Is Bank of America Cash Rewards credit card metal?
3
UpvotesReply
How do I contact the Bank of America Cash Rewards Card reconsideration line?
3
UpvotesReply
How can I get my Bank of America Cash Rewards late fee waived?
3
UpvotesReply
Compare The Bank of America Customized Cash Rewards credit card
Purchase Intro APR0% for 15 billing cycles
Purchase Intro APR0% for 15 months
Purchase Intro APRNot Offered
Transfer Intro APR0% for 15 billing cycles for any balance transfers made in the first 60 days|Transfer Fee: 3% (min $10)
Transfer Intro APR0% for 15 months|Transfer Fee: Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days (5%, min $5 after)
Transfer Intro APR10.99% for 6 months|Transfer Fee: 3% intro balance, up to 5% fee on future balance transfers (see terms)*
Regular APR16.24% - 26.24% Variable
Regular APR16.49% - 25.24% (V)
Regular APR24.49% Variable
Rewards Rate1 - 3% Cash Back
Rewards Rate1.5 - 5% Cash Back
Rewards Rate1 - 2% Cash Back
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Bank of America Customized Cash Rewards credit card Video Review
Bank of America Customized Cash Rewards credit card Reviews
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3 Star Rating
This was my first credit card just because I was already a customer with Bank of America. It's a decent card and is accepted most places. The cash back options are average but at least you can build them up and put them towards your bill. It is easy to pay off online, by phone, or through the mobile app.
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4 Star Rating
The Bank of America Cash Reward card seems like an awesome card, at least compared to my Citi Card where you earn "easy points" that have very little value. To earn cash back for groceries, fuel, and other purchases would encourage me to use this card for every daily purchase. After reading the terms I am considering switching to this card.
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5 Star Rating
with the Bank of America cash reward card I earned over 150.00 in 3 months and I love the fact that I get 3 percent cash back in gas because I use over 300 in gas. I love that it doesn't change the percentage at all.
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3 Star Rating
This card is ok, but not great based on my opinion. I did like the two percent cash back on groceries and the three percent cash back on fuel. I always made my monthly payments on or ahead of time. I was out of work for a short period of time due to personal matters. I explained to them what was going on, but still made a couple Partial payments. I was charge high interest rates that made it hard for me to get catchup on my payments. I really disagree with the cashback interest rates.
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2 Star Rating
I liked it at first. But when I fell behind on payments the interest kept killing me. I got deeply in debt and tried to cancel. They said they couldn't cancel until my payments were current. My interest kept going up and I ended up in collections.
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4 Star Rating
I have this card for about five months and I pretty much had a salt and sweet taste to it. The thing that I really loved about this Bank of America Card was that it had higher cash back reward than most other credit cards in the market currently. The thing that really hate about this card is its online interface. The website is just pure madness so don't even get me stared on the login which is more confusing than learning how to fly a helicopter. Overall besides its ups and downs I really loved this card.
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5 Star Rating
The cash back offered with this card is much higher than most cards I have had before. The 2% for groceries and 3% for gas cash back amount is a very attractive offer that this card has. Also, the $100.00 bonus upon using your card, and the 0% for 12 months make this card a wonderful credit card. I would definitely recommend this card to anyone.
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1 Star Rating
This is by far the worst credit card I own. Their interest rates suck, and so does their customer service. The Discover It card is better on so many levels.
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4 Star Rating
This card presents a number of benefits on specific purchases that add up to savings in the long run. Currently, I use my Chase Freedom and it does not provided as high of a percentage of Cash Back for food and gas. Aside from the Cash Back benefit, the percentage rate is a tad bit lower than my Chase Freedom card. I appreciate the idea of receiving cash back as opposed to just rewards points that you have to use to purchase something you might not need in the long run.
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5 Star Rating
I really like this card. The BankAmericard Cash Rewards Credit Card is a great way to build your credit and make a reasonable deal of your purchases back via the rewards system. 1% on every purchase, 2% on groceries, and 3% on gas! This might not sound like a big deal but it really adds up over time, especially if you're diligent about keeping your balance paid off. Combine that with a very competitive interest rate and you have an all-around solid card.
Compare to other reward cards which might offer reward points but not automatic money back on purchases, gas, and groceries. You really can't beat this card.
Compare to other reward cards which might offer reward points but not automatic money back on purchases, gas, and groceries. You really can't beat this card.
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Offer last updated: Aug 1st, 2022 at 10:05 ET