Bank of America Customized Cash Rewards: Maximize Cash Back on Your Choice of Everyday Categories

The Bank of America Customized Cash Rewards credit card offers a unique and flexible rewards structure, allowing cardholders to choose their own bonus category for 3% cash back. This customization, combined with a no-annual-fee structure, makes it an attractive option for those looking to maximize their cash back earnings on everyday purchases. Let's dive into the details of this card and explore how you can make the most of its rewards program.

Cash Back Earning Structure

The Bank of America Customized Cash Rewards credit card offers a tiered cash back structure, with varying rewards rates for different categories of purchases. Here's a breakdown of the earning structure:

* 3% cash back: Choose one category from the following options to earn 3% cash back: gas and EV charging stations, online shopping (including cable, streaming, internet, and phone services), dining, travel, drugstores, or home improvement/furnishings. You can change this category once per calendar month.
* 2% cash back: Earn 2% cash back on grocery store and wholesale club purchases.
* 1% cash back: Earn 1% cash back on all other purchases.



Quarterly Spending Cap

While the rewards structure is generous, it's essential to be aware of the quarterly spending cap. The first $2,500 in combined 3% and 2% cash back purchases each quarter will earn the respective rewards rates, after which you'll earn 1% cash back on additional purchases in those categories.

For example, if you spend $2,500 on gas and another $2,500 at grocery stores in a quarter, you'll earn 3% cash back on the gas purchases and 2% cash back on the grocery purchases. However, if you spend an additional $1,000 on gas in the same quarter, you'll only earn 1% cash back on that $1,000.

Maximizing Cash Back Earnings

To make the most of the Bank of America Customized Cash Rewards credit card, consider the following strategies:

1. Choose your bonus category strategically: Select the category in which you anticipate spending the most in the upcoming month. For instance, if you have a big trip planned, choose the travel category to maximize your earnings.
2. Leverage the Preferred Rewards program: If you're an existing Bank of America customer with eligible accounts, consider enrolling in the Preferred Rewards program. This program offers a cash back bonus of 25%-75% based on your account balance, significantly enhancing your cash back earnings potential.
3. Use the card for everyday purchases: Make the Bank of America Customized Cash Rewards credit card your go-to card for everyday purchases, such as groceries, gas, and dining. This will help you reach the quarterly spending cap and maximize your cash back earnings.

In conclusion, the Bank of America Customized Cash Rewards credit card offers a flexible and customizable rewards structure, making it an attractive option for those looking to maximize their cash back earnings on everyday purchases. By strategically choosing your bonus category and leveraging the Preferred Rewards program, you can make the most of this card's unique features.