Bank of America® Customized Cash Rewards

Issuer

Bank of America

Network

Visa

Regular APR

18.24% - 28.24%

Credit Score

690 - 850 (Good - Excellent)

Rewards Rate Details

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

Intro Offer Details

$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

Pros

• No annual fee
• Generous intro APR period for purchases and balance transfers
• Flexible cash back with the option to update your 3% category each month
• Sign-up bonus offer
• Rewards don’t expire
• Preferred Rewards® members can earn up to 75% more cash back on all purchases

Cons

• 2% and 3% cash back categories have a $2,500 combined spending cap each quarter
• Foreign transaction fee of 3%
• Best rewards are limited to certain customers with Bank of America Preferred Rewards status
• Complex rewards structure may confuse some users
• Rival cards offer higher welcome bonuses