Maximizing Rewards with the Bank of America® Customized Cash Rewards Credit CardIn today’s fast-paced world, credit cards have become an essential tool for managing finances and earning rewards. Among the myriad of options available, the Bank of America® Customized Cash Rewards Credit Card stands out for its flexibility and lucrative rewards structure. This article delves into the features, benefits, and potential drawbacks of this credit card, helping you make an informed decision.Get more news about customized cash register,you can vist our website!
Flexible Rewards StructureOne of the standout features of the Bank of America® Customized Cash Rewards Credit Card is its flexible earning structure. Cardholders can earn 3% cash back in a category of their choice, which can be changed monthly. The available categories include gas and EV charging stations, online shopping, dining, travel, drug stores, and home improvement and furnishings. This flexibility allows users to maximize their rewards based on their spending habits.
In addition to the 3% cash back category, the card offers 2% cash back at grocery stores and wholesale clubs. All other purchases earn 1% cash back. However, it’s important to note that the 3% and 2% cash back rates apply only to the first $2,500 in combined purchases each quarter. After reaching this limit, all purchases earn 1% cash back.
Sign-Up Bonus and Introductory OffersNew cardholders can take advantage of a $200 online cash rewards bonus after making at least $1,000 in purchases within the first 90 days of account opening. This sign-up bonus provides an excellent incentive for new users to start using the card immediately.
Additionally, the card offers a 0% introductory APR for the first 15 billing cycles on purchases and any balance transfers made within the first 60 days of opening the account. After the introductory period, a variable APR of 19.24% to 29.24% applies. This introductory offer can be particularly beneficial for those looking to make large purchases or transfer balances from higher-interest cards.
No Annual Fee and Additional BenefitsOne of the most appealing aspects of the Bank of America® Customized Cash Rewards Credit Card is that it has no annual fee. This means cardholders can enjoy all the benefits and rewards without worrying about an annual cost eating into their earnings.
For those who are part of the Bank of America Preferred Rewards program, the rewards can be even more substantial. Preferred Rewards members earn an additional 25% to 75% more cash back on every purchase. This means the 3% cash back category could earn up to 5.25%, and the 2% category could earn up to 3.50%, significantly boosting the overall rewards.
Potential DrawbacksWhile the Bank of America® Customized Cash Rewards Credit Card offers many benefits, there are a few potential drawbacks to consider. The most notable is the quarterly spending cap of $2,500 for the 3% and 2% cash back categories. Once this limit is reached, all purchases earn only 1% cash back. For high spenders, this cap may limit the total rewards earned.
Another consideration is the foreign transaction fee, which applies to purchases made outside the United States. This fee can add up for frequent travelers, making the card less ideal for international use.
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