How to Apply for Bank of America Customized Cash Rewards Credit Card
In the ever-evolving world of personal finance, the Bank of America Customized Cash Rewards Credit Card stands out with its flexible rewards structure tailored to meet diverse spending habits. Designed for those who wish to maximize their cash back, this card offers 3% cash back in the category of your choice, whether it be gas, online shopping, dining, or more. Additionally, users enjoy 2% cash back at grocery stores and wholesale clubs, making it a valuable addition to any wallet.
The application process is straightforward, and understanding its unique benefits can help you decide if it’s the right fit for your financial goals. Interested in learning how to apply and make the most of these rewards? This guide will shed light on the steps required and what to expect during the application journey, ensuring a smooth entry into the realm of customized cash rewards.
Benefits of the Bank of America Customized Cash Rewards Credit Card
Earn Cash Back on Every Purchase
The Bank of America Customized Cash Rewards Credit Card offers a competitive 3% cash back in the category of your choice, whether it be online shopping, dining, gas, or more. Additionally, you can earn 2% cash back at grocery stores and wholesale clubs, applicable to the first $2,500 spent in these combined categories each quarter. Beyond that, you earn 1% cash back on all other purchases.
Tip: Be strategic about which category you select for the 3% cash back based on your regular spending habits each quarter to maximize your earnings.
Attractive Introductory Offers
New cardholders can benefit from a 0% introductory APR on purchases and balance transfers for the first 15 billing cycles. After the introductory period, the APR will be based on your creditworthiness.
Tip: Consider transferring any high-interest credit card balances to this card to take advantage of the 0% introductory APR offer and save money on interest payments.
Flexible Redemption Options
This credit card provides flexibility in how you redeem your cash back rewards. You can choose to have your cash back deposited directly into a Bank of America checking or savings account, credited to your statement, or even put toward a contribution to a Merrill account.
Tip: Setting your cash back to auto-redeem into a savings account can help you build an emergency fund or save towards a specific financial goal.
Loyalty Perks with Bank of America Preferred Rewards
Cardholders enrolled in the Bank of America Preferred Rewards program can earn an additional 25% to 75% rewards bonus on all eligible purchases. This makes the card even more rewarding for customers who hold substantial deposits or investments with the bank.
Tip: Check your eligibility for the Preferred Rewards program periodically to maximize your cash back percentage through this valuable loyalty perk.
SEE HOW TO GET YOUR BANK OF AMERICA CUSTOMIZED CASH REWARDS CREDIT CARD
| Category | Features & Benefits |
|---|---|
| Cash Back Rewards | Earn 3% cash back on online shopping or dining, plus 1% on all other purchases. |
| No Annual Fee | Enjoy the benefits of the card without the burden of an annual fee. |
This table highlights some key advantages of the Bank of America Customized Cash Rewards Credit Card. The card offers an enticing cash back rewards program tailored to enhance your spending habits, rewarding you with a competitive percentage on categories that matter most. Furthermore, the absence of an annual fee makes it a cost-effective choice for users, ensuring that you keep more of your earnings while enjoying the perks associated with credit card use. For those seeking value and flexibility in their credit card choice, this card is worth considering as a viable financial tool.
Requirements for the Bank of America Customized Cash Rewards Credit Card
- Applicants must have a minimum credit score of 670, which falls within the good to excellent range. This is a crucial determinant for approval as it reflects the applicant’s creditworthiness.
- It is recommended to have a steady annual income, though there is no explicit minimum requirement. Proof of income helps demonstrate the applicant’s ability to manage credit payments reliably.
- A valid Social Security Number (SSN) is required for identity verification and application processing.
- Potential cardholders are expected to provide a government-issued photo identification such as a driver’s license or passport, confirming both identity and residency status.
- While not mandatory, having a history of responsible credit usage may significantly enhance the chances of approval as it indicates financial responsibility to issuers.
SEE HOW TO GET YOUR BANK OF AMERICA CUSTOMIZED CASH REWARDS CREDIT CARD
Step-by-Step Guide to Apply for the Bank of America Customized Cash Rewards Credit Card
Step 1: Access the Bank of America Website
Begin by visiting the official Bank of America website using your preferred web browser. Navigate to the credit card section by selecting Credit Cards from the main menu. Here, you’ll find various credit card options available. Locate and select the Bank of America Customized Cash Rewards Credit Card to proceed with the application process.
Step 2: Understand the Card Benefits
Before applying, it’s crucial to familiarize yourself with the features and benefits of the Bank of America Customized Cash Rewards Credit Card. This card is designed for consumers who want flexibility and rewards tailored to their spending habits. Carefully read the information provided about cash back rewards, introductory offers, and other cardholder benefits. This understanding will help you make an informed decision.
Step 3: Start the Online Application
Once you decide that the card suits your financial needs, click on the Apply Now button to begin the application process. You will be required to provide personal information including your name, address, Social Security number, employment, and income details. Make sure to enter accurate information to avoid any delays or issues in the approval process.
Step 4: Submit Your Application
After completing all the required fields, carefully review your application for any errors or missing information. Once confirmed, submit your application. Bank of America typically provides an instant decision; however, in some cases, additional time may be needed to process the application. Be patient and check your email for any updates regarding your application status.
Step 5: Receive Approval and Activate Your Card
If your application is approved, you will receive your Bank of America Customized Cash Rewards Credit Card in the mail within a few business days. Upon receipt, follow the instructions provided to activate your card. Activation can usually be completed online or through a quick phone call. Once activated, you can start enjoying the rewards and benefits associated with your new credit card.
GET YOUR BANK OF AMERICA CUSTOMIZED CASH REWARDS CREDIT CARD THROUGH THE WEBSITE
Frequently Asked Questions About the Bank of America Customized Cash Rewards Credit Card
What are the cashback rewards offered by the Bank of America Customized Cash Rewards Credit Card?
The Bank of America Customized Cash Rewards Credit Card offers a lucrative cashback program. Cardholders earn 3% cashback in a category of their choice, such as gas, online shopping, dining, travel, drug stores, or home improvement/furnishings. Additionally, you earn 2% cashback at grocery stores and wholesale clubs on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter. All other purchases yield 1% unlimited cashback.
Is there an annual fee for the Bank of America Customized Cash Rewards Credit Card?
The card boasts a significant cost-saving advantage with its $0 annual fee. This feature, combined with its cashback rewards structure, enhances its appeal for consumers looking to maximize their savings on everyday transactions.
What introductory offers does this credit card provide?
As part of the introductory benefits, new cardholders can enjoy a 0% introductory APR on purchases and on balance transfers made within the first 60 days for the first 18 billing cycles. After this period, a variable APR of 16.24% – 26.24% applies. Additionally, there is a special offer where you can earn a $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening.
How does the Bank of America Preferred Rewards program enhance cashback bonuses?
The Bank of America Preferred Rewards program allows members to boost their cashback rewards significantly. Participants can earn a 25% to 75% bonus on the cashback they receive. Membership tiers are determined by your eligible Bank of America deposit and Merrill investment balances, providing an added incentive for those frequently using banking and investment services through these institutions.
Are there any foreign transaction fees with the Bank of America Customized Cash Rewards Credit Card?
This card comes with a 3% foreign transaction fee. If you anticipate using the card for international purchases, this is an important consideration, as such fees can add up during extensive travel abroad.
