The Bank of America® Customized Cash Rewards credit card is currently offering an impressive welcome package for new applicants. Enjoy 6% cash back in the category of your choice for your first year, plus a $200 online cash rewards bonus if you meet the spending requirement. This card comes with no annual fee, making it accessible for many consumers looking to maximize cash back on regular purchases.

Additional features include 0% introductory APR for 15 billing cycles on both purchases and any balance transfers made within the first 60 days. After the promo period, a competitive variable APR currently ranging from 17.99% to 27.99% applies. There is an introductory 3% balance transfer fee, which rises to 4% after the initial window.

How to Apply for the Customized Cash Rewards Card

Applying for the Bank of America Customized Cash Rewards card takes just a few steps.

First, ensure your personal and financial details are accurate and up to date before starting the application process.

Begin your application online, where you will enter your identification, address, and income information. These details help determine your eligibility.

Submit your application and, in many cases, get a decision in minutes. You may be approved instantly or receive a response within a few business days.

Once approved, you can manage your new card and rewards through Bank of America’s online and mobile banking platforms.

Pros: Cash Back Flexibility & No Annual Fee

This card stands out for its flexible rewards structure. You can select one popular spending category—such as gas, online shopping, dining, travel, drug stores, or home improvement—to earn the elevated 6% cash back during your first year.

Plus, you get 2% back at grocery stores and wholesale clubs and 1% on other purchases, optimizing earnings on daily expenses.

No annual fee means you can benefit from all rewards without worrying about offsetting a yearly cost.

Cons: Quarterly Rewards Cap & Category Choice Limitations

The primary drawback is the cap on bonus earnings. The 6% and 2% rates apply to the first $2,500 in purchases per quarter across your chosen category and groceries/wholesale clubs combined. After crossing this threshold, all purchases earn just 1% cash back.

Changing your 6% cash back category requires a visit to online or mobile banking. You can only make this switch once each month, which may be a hurdle if your spending habits frequently shift.

Verdict: Attractive Cash Back for Everyday Spenders

The Bank of America Customized Cash Rewards card is an excellent option for users who spend heavily in select categories and appreciate the flexibility to maximize earnings. Its significant first-year rewards, solid ongoing rates, and lack of an annual fee make it a competitive choice for everyday spending.

Those with varied spending or needing higher bonus caps may need to supplement with another card, but overall, this card provides outstanding rewards potential for strategic users.