The Bank of America® Customized Cash Rewards credit card for Students is a good option for students with excellent credit who want to earn bonus rewards on purchases from grocery stores, wholesale clubs, and a category of their choice. Cardholders can earn 1 - 6% cash back, plus an initial bonus, and enjoy a $0 annual fee. Requiring excellent credit for a student card is a bit outlandish, though, especially since that sort of score should give you access to the best credit cards on the market.

What I Like About This Card 

$200 initial bonus

Online applicants who spend $1,000 within 90 days of opening an account will get a $200 bonus. That’s about average for a cash rewards card right now, based on WalletHub’s database of 1,500+ credit card offers. Such an offer would be spectacular for a normal student credit card, but it’s just pretty good for excellent credit. 
 

Introductory APR of 0% for 15 billing cycles

New cardholders get 0% for 15 billing cycles on new purchases, plus 0% for 15 billing cycles for any balance transfers made in the first 60 days on balance transfers. The Bank of America Customized Cash Rewards Credit Card for Students is one of the better options for 0% intro rates as a result. That’s among all cards, too – not just those for students. Keep in mind that the cards regular APR (17.49% - 27.49% Variable) applies after the introductory APR period ends. 
 

1 - 6% cash back on purchases

The Bank of America Customized Cash Rewards Credit Card for Students’s name comes from the fact that cardholders can customize their rewards by selecting the purchase category that will provide the maximum rewards rate of 6% back the first year and 3% back after that. The list of options includes dining, drug stores, gas, home improvement/furnishings, online shopping, and travel. 

You get 6% back in the category of your choice as well as 2% back at grocery stores and wholesale clubs, up to $2,500 spent per quarter in all those bonus categories. Those bonus reward rates are very competitive, and being able to choose one of your own bonus categories is a nice touch. 

All other purchases get you just 1% back, however, which is about average for a rewards card and well below what people with excellent credit should be looking to earn. So, you might want to use the card only for purchases that qualify for the bonus rewards rates.
 

$0 annual fee

The Bank of America Customized Cash Rewards Credit Card for Students has a $0 annual fee and thus costs nothing to own. The best student credit cards all have $0 annual fees so this isn’t a differentiator against the most logical alternatives. But this does save cardholders $28.25 per year compared to the average credit card offer, according to WalletHub’s Credit Card Landscape Report.

What I Don’t Like About This Card 

17.49% - 27.49% Variable regular APR

Carrying a balance from month to month with this card after the introductory financing promotion ends is not a good idea. Interest will accrue at an annual rate of 17.49% to 27.49% Variable, depending on your overall creditworthiness when you apply.

No matter what, your rate will be higher than the average APR charged by credit cards for people with excellent credit, according to WalletHub’s research. It could even be much higher than the average credit card APR overall. 
 

750 credit score recommended

The Bank of America Customized Cash Rewards Credit Card for Students requires excellent credit for approval, which means you need a score of 750+ to have a good chance. You can check your credit score for free on WalletHub to get a sense of your odds. But for most students, those odds won’t be very good. A traditional student credit card will likely be a much better fit. 

Bottom Line: Is It a Good Card?  

This is a solid credit card offer overall, but its credit requirement is a bit out of whack. It’s kind of like a state school trying to get away with Ivy League acceptance rates. That said, if you somehow have top-tier credit while enrolled in school, you should at least consider this card – along with the best credit cards overall. Excellent credit puts you in the running for the cream of the crop.