Bank of America just doubled the earning rate on one of their most flexible cash back cards. The Bank of America Customized Cash Rewards card now offers 6% cash back in your choice category—up from the standard 3%—plus a $200 welcome bonus. This limited-time offer makes it one of the strongest no-annual-fee cash back cards available right now.

The Offer Details

Here's what you get with this enhanced offer:

Welcome Bonus: $200 cash back after spending $1,000 in the first 90 days

Earning Structure:

• 6% cash back in one category of your choice (normally 3%)
• 2% at grocery stores and wholesale clubs (on up to $2,500 in combined choice category/grocery/wholesale purchases each quarter)
• Unlimited 1% on all other purchases

Category Options (choose one for 6% back):

• Gas stations
• Online shopping
• Dining
• Travel
• Drug stores
• Home improvement/furnishing stores

Annual Fee: $0

Offer Expires: December 31, 2024

Why This Deal Matters

The 6% cash back rate is exceptional for a no-annual-fee card. Most competing cash back cards top out at 3-5% in bonus categories. If you're strategic about your category choice, you can maximize significant everyday spending.

Let's look at the math: Spending $2,500 per quarter in your 6% category equals $150 back annually, plus the $200 welcome bonus in year one. That's $350 in cash back your first year—and $150+ every year after with no annual fee.

The Preferred Rewards program sweetens this further. Bank of America customers with qualifying deposit and investment balances earn additional bonuses:

• Gold tier (at least $20,000): 25% bonus = 7.5% in choice category
• Platinum tier (at least $50,000): 50% bonus = 9% in choice category
• Platinum Honors tier (at least $100,000): 75% bonus = 10.5% in choice category

How to Take Advantage

1. Apply for the Bank of America Customized Cash Rewards card through their website
2. Spend $1,000 within 90 days to earn the $200 bonus
3. Select your 6% category based on your highest spending areas
4. Consider linking Bank of America deposit/investment accounts for Preferred Rewards bonuses

The quarterly spending cap is $2,500 in combined choice category, grocery, and wholesale club purchases. Plan your spending strategically to maximize the 6% rate before hitting this limit.

Who Benefits Most

This card makes sense if you:

• Want maximum cash back without paying an annual fee
• Have concentrated spending in one of the available categories
• Already bank with Bank of America (for Preferred Rewards perks)
• Prefer simplicity over juggling multiple rotating category cards

It's less ideal if you want rotating categories or spend heavily beyond the $2,500 quarterly cap.

The Bottom Line

The doubled 6% earning rate transforms this from a solid everyday card into one of the best category cash back options available. Combined with the $200 welcome bonus and no annual fee, this offer delivers substantial value for the right cardholder.

The offer ends December 31, 2024, so if this aligns with your spending patterns, apply for the Bank of America Customized Cash Rewards card before year-end to lock in both the enhanced earning rate and welcome bonus.

This article contains affiliate links. If you apply through our links, we may earn a commission at no cost to you, which helps us continue sharing points and miles strategies with the community.