VISAVisa Signature

Bank of America Customized Cash Rewards Credit Card

6% Cash Back in Your Choice Category for Year One

Earn 6% cash back in the category you choose most (dining, gas, shopping, travel, and more) for the first year, then 3% ongoing. With a $200 welcome bonus, flexible category selection, and 0% intro APR for 15 months, this card rewards your spending habits without an annual fee.

Annual Fee: $0
cash back · Welcome Bonus: $200
Top Rate: 3%

Terms checked against the issuer on October 10, 2026

Apply on Bank of America's site

At a Glance

Annual Fee: $0
Foreign Transaction Fee: 3%
Network: Visa Signature
Rewards Currency: Cash
Point Valuation: 1¢ (cash back)
Credit Required: Good to Excellent

Welcome Offer

Bonus: $200 cash back

Spend: $1,000

Period: 3 months

Earning Rates

3%
Dining
Choice category option - 3% cash back at dining (6% first year with bonus)
Cap: $2,500/quarterly
3%
Drugstores
Choice category option - 3% cash back at drug stores and pharmacies (6% first year with bonus)
Cap: $2,500/quarterly
3%
Gas Stations
Choice category option - 3% cash back at gas and EV charging stations (6% first year with bonus)
Cap: $2,500/quarterly
3%
Electric Vehicle Charging
EV charging row: same tier and same cap as gas, per the issuer's wording: "gas and EV charging stations" (TASK-0714).
Cap: $2,500/quarterly
3%
Home Improvement
Choice category option - 3% cash back at home improvement and furnishings (6% first year with bonus)
Cap: $2,500/quarterly
3%
Online Shopping
Choice category option - 3% cash back on online shopping, including cable, internet, phone plans and streaming (6% first year with bonus)
Cap: $2,500/quarterly
3%
Cable Tv
Choice category option - 3% cash back on online shopping, including cable, internet, phone plans and streaming (6% first year with bonus)
Cap: $2,500/quarterly
3%
Streaming
Choice category option - 3% cash back on online shopping, including cable, internet, phone plans and streaming (6% first year with bonus)
Cap: $2,500/quarterly
3%
Telecom
Choice category option - 3% cash back on online shopping, including cable, internet, phone plans and streaming (6% first year with bonus)
Cap: $2,500/quarterly
3%
Travel
Choice category option - 3% cash back on travel (6% first year with bonus)
Cap: $2,500/quarterly
2%
Grocery Stores
Automatic 2% cash back at grocery stores
Cap: $2,500/quarterly
2%
Wholesale Clubs
Automatic 2% cash back at wholesale clubs
Cap: $2,500/quarterly
1%
All Other
Unlimited 1% cash back on all other purchases

Earning Scenarios

6% Cash Back in Your Top Spending Category

Pick the category where you spend the most—whether that's dining out, filling up at the pump, shopping online, or any of the 6 choices—and earn 6% cash back for a full year. After your first year, this drops to 3%, but it remains among the highest cash back rates available.

Spend $500/month in your choice category = $360 cash back in year one (6% on up to $2,500/quarter combined with groceries)

2% Back at the Grocery Store and Costco

Every trip to the supermarket or warehouse club automatically earns 2% cash back. Whether you're buying groceries, gas, or supplies at Costco or Sam's Club, this rate applies seamlessly without activation or category switching.

Spend $400/month on groceries = $96 cash back annually (up to $2,500/quarter combined with choice category)

Steady 1% Cash Back on Everything Else

Beyond your choice category and grocery/warehouse spending, every other purchase earns 1% cash back. No caps, no limits, no special rules—just consistent rewards on everyday spending.

Spend $1,000/month on non-bonus categories = $120 cash back annually, unlimited

Benefits & Perks

Annual Credits & Statement Credits

1 credits

0% APR 15 months
Enjoy 0% introductory APR for 15 months on purchases and balance transfers
—
Annual

Insurance & Protections

1 protections

Visa Signature purchase protection
Get protection against accidental damage or theft of items purchased with your card

Dining Out

3% cash back at restaurants

if dining is your chosen category · On up to $2,500 a quarter in dining, then the base rate

$3 back on a $100 dinner

No annual fee

Explore 5,512 New York restaurants with this card

Stack a dining program

Rakuten Dining

5% back at 20,618 participating restaurants, on top of this card's 3%, once you join and link this card.

How Rakuten Dining works

+$5

cash back, or ≈$5.50 as points

Bank of America Rewards Points

View Program

Bank of America Rewards Points is a straightforward statement credit program with a fixed 1 cpp value for travel and dining redemptions. There are no transfer partners, so redemption flexibility is limited compared to Chase Ultimate Rewards or American Express Membership Rewards. However, the Preferred Rewards program can significantly boost earning rates by up to 75% for members with qualifying Bank of America and Merrill combined account balances.

Currency: Bank of America points

Point Value: 1 cpp

Range: 0.6–1 cpp

Program Ratings

Bankrate

4.2/5

PointsNav

4.8/10#38

Broad Coverage

5/10

Everyday Usefulness

4/10

Earn/Redeem Efficiency

4/10

Policy Fairness

6/10

Ease Of Holding

8/10

Product/Transfer Quality

2/10

Forbes Advisor

Recent Changes & News

Feb 7, 2026policy change

Bank of America is rebranding its Preferred Rewards program to 'BofA Rewards' in May 2026 with updated tier names, new elite benefits, and refreshed asset thresholds for Diamond tier

Sweet Spots — Best Redemptions

Route / Property	Points	Cabin/Type	Value / Region
Domestic roundtrip flight statement credit	30,000–50,000	—	United States
International economy flight statement credit	60,000–100,000	economy	Europe
Premium cabin international flight statement credit	100,000–150,000	business	Asia
Hotel stay statement credit	15,000–30,000	—	United States
Vacation rental statement credit	20,000–40,000	—	United States
Dining statement credit	2,500–10,000	—	Global

Reviews & Analysis

Third-Party Rankings & Ratings

5 sources

U.S. News4.5/5

Bankrate3.8/5

WalletHub4.1/5

Forbes Advisor4.2/5

The Points Guy3.5/5

How It Compares

Category-bonus cash back card with 6% in your choice category (year one), 2% at groceries, 1% elsewhere. No fee, $200 bonus, flexible monthly selection, 0% intro APR for 15 months.

Pros and Cons

Pros

+6% cash back in choice category for first year (3% + 3% bonus)
+No annual fee
+$200 welcome bonus after $1,000 spend
+0% intro APR for 15 months on purchases and balance transfers
+Flexible category selection - change monthly
+2% at grocery stores and wholesale clubs (up to $2,500/quarter combined)

Cons

-3% foreign transaction fee
-$2,500 quarterly cap on bonus categories (combined choice category + grocery)
-6% rate drops to 3% after first year
-Requires monthly category management for optimal returns

Who It's Best For

Best For

People who have dominant spending in one category
Those who can maximize the 6% first-year bonus in choice categories
Shoppers who spend heavily at grocery stores or wholesale clubs
BofA Rewards members (earn 10-75% more)

Not Ideal For

International travelers (3% foreign transaction fee)
People with evenly distributed spending across all categories
Those who want simplicity without category tracking

The Math: Is $0 Worth It?

First-year value includes $200 welcome bonus

Welcome bonus$200

Annual credits (60% utilization)$0

Annual fee-$0

Net first-year value+$200

Credit Utilization (60%)

Annual credits$0

Excludes earning value, lounge access, insurance, and elite status

Total Value Captured

Annual Fee

-$0

Net Annual Value

+$0

Details & Terms

Payment Terms

Purchase APR	17.74%–27.74% (Variable)
Foreign Transaction Fee	3%

Card Family

Cash Rewards family

Card	Tier	Annual Fee	Note
Bank Of America Unlimited Cash	entry	$0	—

Product changes available between family members without a new credit inquiry.

FAQs

Do Bank of America travel rewards points expire?

No, points don't expire as long as your Bank of America credit card account is open and active. Once you close a card, any unredeemed points on that card are lost.

Can I transfer Bank of America points to airline or hotel partners?

No. Bank of America points cannot be transferred to external loyalty programs. You can only redeem them for statement credits, cash back, or gift cards.

What is the minimum redemption for Bank of America points?

You need at least 2,500 points to redeem. That's worth $25 toward travel/dining statement credits or $15 as cash back.

Can I share or transfer points to another person?

No. You cannot transfer points to another cardholder or person. You may be able to transfer rewards between your own eligible Bank of America accounts by calling customer service.

How does Bank of America Preferred Rewards boost my earning rate?

Preferred Rewards members earn 25% (Gold), 50% (Platinum), or 75% (Platinum Honors/Diamond) more points on every purchase. A card earning 1.5x would earn 2.625x at the Platinum Honors tier.

What purchases qualify for travel/dining statement credit redemptions?

Flights, hotels, vacation rentals (including Airbnb), baggage fees, car rentals, and restaurant meals all qualify as travel/dining purchases.

What is the difference between Bank of America card families?

Travel Rewards (no annual fee, 1.5x all), Premium Rewards ($95 AF, 2x travel/dining), Premium Rewards Elite ($550 AF with luxury travel benefits), Customized Cash Rewards (no AF, 5.25% in chosen category), and Unlimited Cash Rewards (no AF, simple cash back).

Media & Resources

Video Reviews

8 videos

I Ranked Every Bank of America Credit Card (Best Cards in 2025)

Chris Hutchins·Sep 24, 2025youtubecomparison