Bank of America Customized Cash Rewards
A quiet contender if you bank with BofA — Preferred Rewards can turn 3% into 5.25%.
Use this page as a benchmark, not as a guaranteed quote or eligibility promise. The price, rate, fee, coverage, or feature set can change with location, customer profile, promotional timing, scope, and provider terms. Compare the current source disclosure before you buy or sign.
FairPrice Guru keeps the benchmark separate from the provider's marketing. A higher price is not automatically unfair when it buys more coverage or a better scope, and a lower headline price is not automatically better when fees, restrictions, or missing features change the real cost.
Price and terms
- Annual fee: $0
- Purchase APR: 19.24%–29.24%
FairPrice score: 71/100
Rewards
3% cashback in your choice category (gas, dining, travel, online shopping, drugstores, home improvement), 2% at grocery stores and wholesale clubs, 1% on everything else. $2,500 quarterly combined 2%/3% cap.
Perks
- Choose your 3% category monthly
- 15-month 0% intro APR
- Preferred Rewards members earn 25-75% more
- No annual fee
Pros
- You pick the 3% category
- Big multipliers for Preferred Rewards members
- No annual fee
Cons
- Only $2,500/quarter at 2%/3%
- 3% foreign transaction fee
- Best value requires a Bank of America banking relationship
Best for
- cashback
- no annual fee
- choose your category
- preferred rewards members
Official source · Last verified 2026-10-04