Bank of America Customized Cash FAQ: 15 Most Common Questions Answered
The Bank of America Customized Cash from Bank of America is one of the most competitive credit cards in the cash back cards category. With a rating of 7/10, it offers no annual fee and impressive rewards including 3% category of choice (gas/online/grocery/dining), 2% grocery/wholesale, 1% else.
In this comprehensive review, we break down everything you need to know about the Bank of America Customized Cash: rewards structure, fees, APR, welcome bonus, and how it compares to competitors. Whether you are looking for your first rewards card or adding to your wallet, this guide covers it all.
Bank of America Customized Cash Overview
The Bank of America Customized Cash is issued by Bank of America and is designed for consumers with Good-Excellent (670+). It carries a rating of 7/10 from our experts. For those with good to excellent credit, this card can be a valuable addition to your wallet.
| Feature | Details |
|---|---|
| Issuer | Bank of America |
| Annual Fee | $0 |
| Intro APR | 0% for 15 months |
| Regular APR | 18.24% - 28.24% Variable |
| Rewards | 3% category of choice (gas/online/grocery/dining), 2% grocery/wholesale, 1% else |
| Welcome Bonus | $200 after $1,000 in first 90 days |
| Credit Score | Good-Excellent (670+) |
| Foreign Tx Fee | 3% |
Rewards & Benefits Breakdown
The Bank of America Customized Cash earns 3% category of choice (gas/online/grocery/dining), 2% grocery/wholesale, 1% else. Here is the detailed breakdown of earning rates:
| Category | Reward Rate |
|---|---|
| All Purchases | 3% category of choice (gas/online/grocery/dining), 2% grocery/wholesale, 1% else |
| Welcome Bonus | $200 after $1,000 in first 90 days |
| Intro APR | 0% for 15 months |
| Credit Score | Good-Excellent (670+) |
Since this card has no annual fee, you can keep it forever without cost. Use it for everyday purchases to maximize value.
Fees & APR Analysis
| Fee Type | Amount |
|---|---|
| Annual Fee | $0 |
| Purchase APR | 18.24% - 28.24% Variable |
| Balance Transfer APR | 0% for 15 months then 18.24% - 28.24% Variable |
| Foreign Transaction Fee | 3% |
Bank of America Customized Cash vs Competitors
See how Bank of America Customized Cash stacks up against similar cards.
| Card | Fee | Rewards | Bonus | Rating |
|---|---|---|---|---|
| Capital One Quicksilver | $0 | 1.5% unlimited cash back | $200 bonus after $500 in first 3 months | 8/10 |
| Chase Freedom Flex | $0 | 5% rotating categories (up to $1,500/quarter) | $200 bonus after $500 spend + 5% on g... | 8/10 |
| Apple Card | $0 | 3% Apple/Daily Cash, 2% Apple Pay, 1% physical | N/A | 8/10 |
| US Bank Altitude Go | $0 | 4% dining, 2% groceries/gas, 1% else | $200 after $1,000 in first 90 days | 7/10 |
| X1 Card | $0 | 2x on all, 3x groups of 3+ merchants | N/A | 7/10 |
Pros & Cons
✅ Pros
- Competitive rewards rate: 3% category of choice (gas/online/grocery/dining), 2% grocery/wholesale, 1% else
- Welcome bonus: $200 after $1,000 in first 90 days
- No annual fee
- Generous intro APR: 0% for 15 months
- Issued by reputable Bank of America
❌ Cons
- Foreign transaction fee of 3%
- Higher than average APR
The Bank of America Customized Cash is best for consumers who want a simple, no-fee card with solid rewards. If you have Good-Excellent (670+) credit and spend $2498/month on average, this card could earn you significant value.
How to Apply for Bank of America Customized Cash
Applying for the Bank of America Customized Cash is straightforward. Here is the step-by-step process:
- 1
Check Your Credit Score
Before applying, check your credit score. You need Good-Excellent (670+) for the best approval odds.
- 2
Compare Your Options
Compare the Bank of America Customized Cash with similar cards from other issuers to ensure it is the right fit.
- 3
Gather Required Information
You will need your Social Security number, income information, and address to apply.
- 4
Complete the Online Application
Visit Bank of America.com or the Bank of America mobile app. The application takes about 5-10 minutes.
- 5
Await Approval Decision
Most applicants receive an instant decision. If approved, your card will arrive in 7-10 business days.
Frequently Asked Questions
You need Good-Excellent (670+) credit to be approved for the Bank of America Customized Cash. Approval is not guaranteed and depends on your overall credit profile.
Yes, with no annual fee, this card is worth keeping in your wallet indefinitely. Plus, the welcome bonus alone covers the first year's value.
The purchase APR is 18.24% - 28.24% Variable. There is an introductory APR of 0% for 15 months.
Yes, there is a 3% foreign transaction fee.
Rewards can be redeemed through your Bank of America online account. Options typically include statement credits, gift cards, travel bookings, and direct deposits.
Conclusion
The Bank of America Customized Cash is a solid choice in the cash back cards category. With no annual fee and competitive rewards, it offers good value for the right consumer.
We recommend this card for anyone with Good-Excellent (670+) credit looking for cash back on their everyday spending. Compare it with other cards in our list to find the best fit for your wallet.
The Bank of America Customized Cash earns 3% category of choice (gas/online/grocery/dining), 2% grocery/wholesale, 1% else. With a rating of 7/10, it is one of the better options in the cash back cards space. Recommended for consumers with Good-Excellent (670+) credit.