Bank of America

The Bank of America Customized Cash Rewards credit card foreign transaction fee is 3%. The card's foreign transaction fee can apply whether you travel to another country or you go shopping internationally through your computer.  

Not every Bank of America credit card charges foreign transaction fees. The Bank of America® Travel Rewards credit card card has 0% foreign fees, for example, as does the Bank of America® Premium Rewards® credit card. So, they are better options to use for foreign purchases than Bank of America Customized Cash Rewards credit card.

Bank of America Customized Cash Rewards credit card Foreign Transaction Fee Info:

• Foreign transaction fee: 3% of any purchase from a foreign-based merchant.
• When you owe the foreign transaction fee: In-person and online purchases processed internationally.
• Other Bank of America cards: Nearly 10 Bank of America credit cards have a 3% foreign transaction fee. All other BofA credit cards, including the Bank of America Travel Rewards credit card and the Bank of America Premium Rewards credit card, have 0% foreign transaction fees.

The Bank of America Customized Cash Rewards credit card foreign transaction fee isn't the only fee you have to worry about with the Bank of America Customized Cash Rewards credit card. If you take out a cash advance, you will owe $10 or up to 5% of the transaction amount, whichever is greater. Late payments will cost you up to $40. Plus, if you transfer a balance to the card, you'll pay a fee equal to 3% (min $10) of the amount. Fortunately, the Bank of America Customized Cash Rewards credit card has a $0 annual fee. 

One of the best cash back credit cards with $0 foreign transaction fees is the Capital One Quicksilver Cash Rewards Credit Card, which gives a $200 bonus when you spend $500 in the first 3 months, plus 1.5% cash back on all purchases. You can also check our editors' latest picks for the best no foreign transaction fee credit cards on the market to weigh your options.

The Bank of America Customized Cash Rewards credit card 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.

More things to know about the Bank of America Customized Cash Rewards credit card categories:

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 Customized Cash Rewards credit card 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.

You can redeem your Bank of America cash rewards in three ways: statement credit, direct deposit to a BofA/Merrill Lynch account, or personal check. Cardholders must have a minimum of $25 in cash back earned in order to redeem, regardless of redemption method.

Using your Bank of America cash rewards for a statement credit is one of the simplest options. Once you have at least $25 in cash rewards, you can directly apply your rewards as a statement credit and the amount will be subtracted from your current balance.

To redeem your cash rewards for a direct deposit, you must have a Bank of America checking or savings account, or a Cash Management Account at Merrill Lynch.If you choose to redeem your rewards using the personal check option, you should expect to wait at least 14 days for the check to arrive by mail.

Bank of America cash back deals offered through the BankAmeriDeals program allow most Bank of America credit card and debit card users to earn cash back on purchases charged to their cards. Eligible credit card users can also supplement their regular rewards with these deals. First, Bank of America rewards credit cards offer cash back, miles or points for everyday qualifying purchases. On top of that, the BankAmeriDeals cash back program gives eligible cardholders the chance to earn more cash back at a changing selection of restaurants, stores, along with many other retailers and merchants. Once you've activated a deal, you can claim your extra cash back by simply paying with your Bank of America credit card at that retailer.

That's the basic outline, but there are some useful details you should be aware of.

Here's what you should know about Bank of America cash back deals:

• You can find the BankAmeriDeals cash back deals on the Bank of America app as well as your online account. Just log in, and click the “Rewards & Deals” tab and select “Cash back deals”. Alternatively, click the “Special Offers and Deals” tab to the right of your Account Overview.
• You need to actually select specific deals to earn extra cash back. Simply shopping at featured merchants is not enough.
• There is no limit to how many deals you can activate at a time.
• You can use Bank of America debit and credit cards for cash back deals, but there are some exclusions. You can't get the deals with ATM-only cards, a type of debit card that only works for withdrawing cash from ATMs. Corporate cards and some co-branded cards are also ineligible.
• You can choose to get email and text alerts when new deals become available. To opt in and manage your alerts, go to the “Preferences” tab in your online account, or the “Alerts Settings” on the mobile app.
• Some deals require you to pay either online or in person.
• The cash back you receive from Bank of America deals is in addition to any you earn through your Bank of America card's rewards program.

The best part about Bank of America cash back deals offered through the BankAmeriDeals program is that you can supplement your eligible credit card's reward program. One of the best Bank of America cash back credit cards is the Bank of America® Customized Cash Rewards credit card which offers approved online applicants $200 for spending $1,000 within 90 days of account opening. In addition, Bank of America Customized Cash Rewards credit card also earns you 3% cash back in a category of your choice and 2% back at grocery stores and wholesale clubs (up to $2,500 spent quarterly), plus unlimited 1% cash back on all other purchases.

So all your regular spending rewards will be supplemented by the Bank of America cash back deals you sign up for through your online account or mobile app. All in all, they're definitely worth using, as long as you're choosing offers that fit with your typical spending patterns.

To cancel a Bank of America credit card, call the bank at 800-732-9194 and enter your account number, Social Security number or telephone access ID when prompted. Then choose the option to speak to a customer service representative and tell the representative that you want to close your account. The representative may try to keep you as a customer by offering some kind of retention offer (such as a special bonus), but you can decline and have them close the account anyway.

Another way to close your Bank of America credit card account is to visit a branch location in person. Or you can send a written request with your credit card number to: Bank of America / P.O. Box 982234 / El Paso, TX 79998-2234.

Keep in mind that canceling your Bank of America credit card may lead to a drop in your credit score, especially if it's an old account. You can see how closing the card is likely to impact your score using WalletHub's free credit score simulator.