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Best of Bank of America Cash Rewards Credit Cards
Bank of America's cash rewards lineup splits cleanly into two camps: flexible category cards like the Bank of America® Customized Cash Rewards credit card, where you earn elevated cash back in the category of your choice, and flat-rate cards like the Bank of America® Unlimited Cash Rewards credit card, which earns 1.5% cash back on all purchases. BofA Rewards™ members can earn a 10% to 75% bonus on rewards with eligible cards, making Bank of America one of the highest effective cash back issuers for existing banking customers.
About Bank of America Cash Rewards Cards:
The Bank of America® Customized Cash Rewards credit card is the standout for most households. Being able to change your bonus category once per month—gas, online shopping, dining, travel, drug stores, or home improvement—means you can align rewards with seasonal spending. Earn 6% cash back for the first year in the category of your choice, 3% cash back after the first year from account opening in your choice category, 2% cash back 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.
If you prefer to set it and forget it, the Bank of America® Unlimited Cash Rewards credit card is simpler and has no quarterly cap. Pair either card with the BofA Rewards™ program, and earn rates can increase by 10% to 75% for Bank of America and Merrill customers.
Frequently Asked Questions:
Which Bank of America card has the best cash back rate?
For category spending, the Bank of America® Customized Cash Rewards credit card offers 6% cash back for the first year in the category of your choice, 3% cash back after the first year from account opening in your choice category, 2% cash back 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.
How often can I change my category on the Bank of America® Customized Cash Rewards credit card?
You can change your category choice once per calendar month through online or mobile banking. If you don't make a change, the previous month's selection carries over automatically.
Is there a cap on Bank of America cash back rewards?
Yes, the Bank of America® Customized Cash Rewards credit card and the Bank of America® Customized Cash Rewards credit card for Students have caps. Each card earns 6% cash back for the first year in the category of your choice, 3% cash back after the first year from account opening in your choice category, 2% cash back 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.
Do Bank of America cash rewards expire?
No. Cash rewards earned on Bank of America credit cards do not expire as long as your account remains open and in good standing. You can redeem for statement credit, direct deposit, or check at any amount.
Can I combine cash rewards across multiple Bank of America cards?
Rewards are tracked per card, but you can redeem them separately into the same Bank of America checking or savings account. BofA Rewards™ bonuses apply independently to each card you hold.
