How to Apply for Bank of America Customized Cash Rewards Credit Card

The Bank of America Customized Cash Rewards Credit Card offers 3% cash back in a category of your choice, 2% at grocery stores and wholesale clubs, and 1% on other purchases, all with no annual fee. New users enjoy a sign-on bonus, and Preferred Rewards clients can earn up to 75% more.

Por: Inara em November 27, 2024

Applying for the right credit card can seem daunting, but the Bank of America Customized Cash Rewards Credit Card makes your decision a bit easier. Renowned for its flexibility, this card offers rewards tailored to fit your lifestyle effortlessly. With no annual fee, it provides you with dynamic cash back options that help maximize your spending habits.

Imagine earning 3% cash back in a category of your choice, such as gas, online shopping, or dining. Additionally, there’s 2% cash back at grocery stores and wholesale clubs, making everyday purchases more rewarding. These enhanced earnings are on the first $2,500 in combined choice categories, grocery store, and wholesale club purchases each quarter.

Bank of America clients enjoy even more. If you have a qualifying Bank of America account, you can unlock rewards bonuses, expanding the potential to earn more. Whether you’re fueling up the car or dining out, this card works for you. Learn how to navigate the application process and make this versatile card a part of your wallet.

Benefits of Using the Bank of America Customized Cash Rewards Credit Card

Flexible Cash Back Program

The Bank of America Customized Cash Rewards Credit Card offers a unique and flexible cash back program. You can earn 3% cash back in the category of your choice, whether it’s dining, travel, gas, online shopping, or another category. Additionally, you’ll receive 2% cash back at grocery stores and wholesale clubs, and 1% cash back on all other purchases. To make the most of this benefit, be sure to align your selected category with your spending habits. Review your spending patterns quarterly to choose the best category for maximum rewards.

No Annual Fee

This card comes with the advantage of having no annual fee, allowing you to enjoy the perks of a rewards program without the extra cost. It is an excellent option for anyone looking to save money while taking advantage of credit card benefits. Consider transferring your balances or using this card for regular expenses to maximize benefits without worrying about an additional annual charge.

Bonus Offer for New Users

New users can take advantage of a sign-on bonus by spending a specific amount within the first 90 days of opening an account. To unlock this bonus, plan major purchases or bill payments right after receiving your card to quickly reach the spending threshold. This strategy allows you to benefit immediately from the extra cash bonus.

Enhanced Rewards for Preferred Rewards Clients

If you qualify as a Bank of America Preferred Rewards client, you can enjoy even more benefits with an additional 25% to 75% rewards boost on your cash back. This boost can significantly increase your earnings, making it worthwhile to look into signing up for the Preferred Rewards program. Ensure you check your eligibility regularly to maximize your cash back potential.

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Requirements for Bank of America Customized Cash Rewards Credit Card

To apply for the Bank of America Customized Cash Rewards Credit Card, potential cardholders should keep in mind certain key criteria. These requirements help determine your eligibility and ensure you can benefit from the card’s attractive features:

Credit Score: A good to excellent credit score is typically needed. Aim for a FICO score of 670 or above to improve your chances of approval. While the exact score requirement isn’t disclosed, higher scores increase your eligibility.
Income Proof: Applicants must provide proof of a stable income to demonstrate their ability to repay their credit. This can include pay stubs, bank statements, or tax returns. A solid and regular income source indicates creditworthiness.
US Residency: You must be a resident of the United States. This credit card is intended for domestic customers, so make sure you have a valid mailing address within the country.
Legal Age: Meeting the minimum legal age for obtaining a credit card, which is generally 18 or older, is essential. Being legally capable to enter into a financial contract is a must.

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Applying for the Bank of America Customized Cash Rewards Credit Card

Step 1: Visit the Bank of America Website

To apply for the Bank of America Customized Cash Rewards Credit Card, start by visiting the official Bank of America website. You can do this by entering “bankofamerica.com” into your web browser’s address bar. Once there, navigate to the “Credit Cards” section, and look for the Customized Cash Rewards Credit Card option. This is where you’ll find detailed information about the card’s features, benefits, and terms.

Step 2: Review Eligibility Requirements

Before proceeding with your application, ensure that you meet the eligibility criteria. Generally, applicants must be at least 18 years old and reside in the United States. It is also important to have a good credit score to improve your chances of approval. Carefully read all terms and conditions provided online to understand the card’s requirements and your responsibilities.

Step 3: Start the Application Process

Once you’re ready, click on the “Apply Now” button associated with the Bank of America Customized Cash Rewards Credit Card. You will be prompted to fill out an application form. Provide accurate personal information, including your full name, address, Social Security Number, employment status, and annual income. Ensure all details are correct before submitting the application to avoid delays.

Step 4: Wait for Approval

After submitting your application, Bank of America will review your information to determine your eligibility. This process can take a few business days. You may receive additional communications via email or phone if further information is needed. If approved, you’ll receive your new credit card in the mail, along with instructions on activation and use.

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Frequently Asked Questions about the Bank of America Customized Cash Rewards Credit Card

What are the main benefits of the Bank of America Customized Cash Rewards Credit Card?

The Bank of America Customized Cash Rewards Credit Card offers several enticing benefits. One of the primary advantages is its flexible cash back program. Cardholders can earn 3% cash back in a category of their choice, such as gas, online shopping, or dining. Additionally, users earn 2% cash back at grocery stores and wholesale clubs, and 1% on all other purchases. Keep in mind, the 3% and 2% categories have a quarterly spending cap of $2,500 combined. Once this cap is reached, earnings revert to 1%. Furthermore, there’s no annual fee, which makes it an attractive option for budget-conscious consumers.

How does the introductory APR offer work?

The card provides an introductory 0% APR on purchases and balance transfers for the first 15 billing cycles. This can be particularly beneficial if you’re planning a large purchase or want to consolidate existing credit card debt. However, after the introductory period, the APR will adjust to the standard variable APR between 17.99% – 27.99%, depending on your creditworthiness. Keep in mind that a 3% fee (minimum $10) will apply to any balance transfers.

Can I change the category for the 3% cash back benefit?

Yes, this card offers the flexibility to change your 3% cash back category each month. You can choose from six different categories including gas, online shopping, dining, travel, drug stores, or home improvement/furnishings. If no change is made, your chosen category will roll over to the next month. This feature allows you to optimize your rewards based on changing spending habits.

Are there any fees associated with this credit card?

While the card has no annual fee, it is important to be aware of other possible fees. There is a foreign transaction fee of 3% for purchases made outside of the United States. Additionally, late payment and returned payment fees can go up to $40. Understanding these fees can help you manage the cost of maintaining the card effectively.

Is there a sign-up bonus for new cardholders?

Yes, new cardholders can earn a $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of opening the account. This provides an immediate incentive for new users to start utilizing their credit card for regular expenses. Remember that meeting this threshold early can maximize your benefits from the card’s rewards program.