How Does the BofA Customized Cash Rewards Card Work?
Three earn rates, six categories to choose from, and one shared quarterly cap. Here is how each piece works and how they interact.
The Answer First
The Bank of America® Customized Cash Rewards credit card is a $0 annual fee card that earns 3% cash back in one category you choose from six options, 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. New cardholders earn 6% cash back in the category of your choice for the first year.
How Does Customized Cash Rewards Earn Cash Back?
Most explanations of this card lead with the 3% headline. The more useful way to understand it is as a tiered structure with a ceiling. Two elevated rates share one quarterly spending pool, and everything outside that pool earns the base rate.
*The $2,500 quarterly cap applies to combined purchases in the choice category and at grocery stores and wholesale clubs.
What Are the Six Customized Cash Rewards 3% Categories?
You choose one of six categories for the 3% rate. Only one can be active at a time.
Eligible purchases are determined by merchant category code (MCC). Purchases may not qualify if the merchant is coded outside the selected category.
How Does the Customized Cash Rewards $2,500 Quarterly Cap Work?
The 3% and 2% rates apply to your first $2,500 in combined choice category and grocery and wholesale club purchases each calendar quarter. After you reach $2,500, those purchases earn 1% until the next quarter begins. The cap resets in January, April, July and October.
The $2,500 Quarterly Cap Is Shared Across Categories
The $2,500 quarterly cap covers your choice category and grocery and wholesale club purchases together. It is not $2,500 for each. Every dollar spent at the grocery store leaves one dollar less room for 3% purchases that quarter.
How Do You Change Your Customized Cash Rewards Category?
Where Can You Change Your Choice Category?
You change your choice category in Bank of America Online Banking or the Mobile Banking app.
How Often Can You Change Your Choice Category?
Once per calendar month. The change applies to future purchases, not ones already made.
What Happens If You Don't Change Your Choice Category?
Your category stays the same. New accounts start in Gas and EV Charging Stations, so cardholders who never visit the setting earn 3% on gas by default.
How Does Bank of America Determine Purchase Categories?
Bank of America groups purchases by merchant category code (MCC), a code each merchant is assigned based on what it mainly sells. The merchant, not Bank of America, decides how a purchase is coded. A purchase can therefore land outside the category you expect. A pharmacy inside a superstore, for example, may not code as a drug store.
What Are the Customized Cash Rewards Welcome Offer, Intro APR and Fees?
- Annual fee: $0
- Welcome offer: Earn a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- First year offer: Earn 6% cash back for the first year in the category of your choice and 3% cash back after the first year from account opening in your choice category
- Intro APR: 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After that, 17.74% - 27.74% Variable APR on purchases and balance transfers
- Balance transfer fee: 3% for 60 days from account opening, then 5%
- Foreign transaction fee: 3%
How Does BofA Rewards™ Affect Customized Cash Rewards?
BofA Rewards™, Bank of America's loyalty program, adds a 10% to 75% bonus to the cash back you earn. It replaced Preferred Rewards in May 2026. Any customer with a Bank of America personal checking account can join at the Member tier.
BofA Rewards™ tiers are based on your combined average balance in qualifying Bank of America deposit and Merrill investment accounts. An open, qualifying Bank of America personal checking account is required to enroll. Credit card rewards bonuses apply to eligible cards. Customized Cash Rewards rates shown above reflect the card’s regular rewards rates with the applicable BofA Rewards™ bonus and do not include the additional first year promotional rate.
Does the BofA Rewards™ Bonus Apply to the 6% First Year Rate?
The BofA Rewards™ bonus applies to the card's regular rates, not to the extra 3% first year promotion. Former Preferred Rewards members keep their old bonus until their first enrollment anniversary after November 2026, then move to their new tier.
How Do You Redeem Customized Cash Rewards?
Cash back does not expire while your account is open. You can redeem it as a statement credit or as a deposit into an eligible Bank of America checking or savings account.
Frequently Asked Questions
The Bottom Line
The Bank of America® Customized Cash Rewards credit card is designed to reward spending in a category you choose, subject to a shared quarterly cap. The choice category and grocery and wholesale club purchases share the $2,500 quarterly limit, while purchases outside those categories and purchases above the cap earn the base rate. Confirm current rates, categories and offers with Bank of America before applying.
Choose Your Next Step
- Compare Bank of America cash rewards cards
- See the Bank of America® Customized Cash Rewards credit card here
- Compare cash back cards across issuers
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