Introduction
The Bank of America Customized Cash Rewards card currently earns 6% cash back in the category of your choice for the first year, plus a $200 online cash rewards bonus, according to Bank of America's card page. Beyond the offer, the card is a flexible no-annual-fee cash back option, especially if you already bank with Bank of America. Here is how it works and who it makes sense for.
How the Earning Structure Works
The base rates have been steady for years:
- 3% cash back in one category you choose
- 2% at grocery stores and wholesale clubs
- 1% on everything else
The 3% and 2% rates share a combined $2,500 quarterly cap on purchases. After you hit the cap, those purchases drop to 1% for the rest of the quarter. The 1% on all other spend is uncapped.
In the first year, the offer makes the choice category 6% instead of 3%. Bank of America's page applies the 6% and 2% rates to the first $2,500 in combined purchases each quarter, then 1%.
You pick the 3% category yourself, and you can change it once per calendar month through your Bank of America account. The choice list:
- Gas and EV charging stations
- Online shopping (including cable, streaming, internet, and phone services)
- Dining
- Travel
- Drug stores and pharmacies
- Home improvement and furnishings stores
That flexibility is the real selling point. If your spending shifts seasonally, you can move the 3% category to match it. Most cash back cards lock you into a fixed bonus or rotate it for you.
The BofA Rewards Multiplier
This is where the card becomes genuinely interesting for existing Bank of America customers. BofA Rewards, the program that replaced Preferred Rewards, sets your tier by your combined balances across Bank of America deposit accounts and Merrill investment accounts, and adds a bonus on the card's cash back. Using Bank of America's own example for a 3% purchase:
- Member (no minimum balance): 10% bonus, taking the choice category to 3.3%
- Preferred Plus (at least $30,000 combined): 25% bonus, taking it to 3.75%
- Preferred Honors (at least $100,000): 50% bonus, taking it to 4.5%
- Premier (at least $1,000,000): 75% bonus, taking it to 5.25%
Bank of America says the bonus does not apply to account opening bonuses or special-offer rewards. If you enrolled in Preferred Rewards before May 26, 2026, Bank of America says your credit card account may be eligible for an extended card benefit. For someone with a large Merrill brokerage already, the Premier version of this card outearns most no-annual-fee cards in its bonus category and at grocery stores.
The Welcome Bonus
Bank of America's page shows a $200 online cash rewards bonus after at least $1,000 in purchases in the first 90 days, on top of the 6% first-year category rate. Offers change, so pull up the current Bank of America Customized Cash Rewards application page before applying so you see the live offer.
Who This Card Is For
The Customized Cash Rewards card makes sense if you already have a Bank of America banking or Merrill relationship that reaches a higher BofA Rewards tier, or if your spending is concentrated enough in one of the choice categories that 3% beats your alternatives. If neither applies, a flat-rate 2% cash back card or a rotating-category card is usually the stronger pick.
Updated October 6, 2026: first-year offer and BofA Rewards.
