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Bank of America® Customized Cash Rewards Credit Card: Spend $1,000 or more on purchases in the first 90 days of account opening to earn a $200 Cash Rewards Bonus

+74 Deal Score
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Bank of America is offering a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening with their Bank of America® Customized Cash Reward credit card. No Annual fee.

Card Details:
New offer! Earn 6% cash back for the first year in the category of your choice: gas and EV charging stations; online shopping, including cable, internet, phone plans and streaming; dining; travel; drug stores and pharmacies; or home improvement and furnishings. You'll automatically earn 2% cash back at grocery stores and wholesale clubs, and unlimited 1% cash back on all other purchases. After the first year from account opening, you'll earn 3% cash back on purchases in your choice category.
Earn 6% and 2% cash back on the first $2,500 in combined purchases each quarter in the choice category, and at grocery stores and wholesale clubs, then earn unlimited 1% thereafter. After the 3% first-year bonus offer ends, you will earn 3% and 2% cash back on these purchases up to the quarterly maximum.
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
With the Bank of America Preferred Rewards® program, members can earn 25%-75% more cash back on every purchase. That means the 3% choice category could go up to 3.75%-5.25%. The Preferred Rewards bonus is not applied to the 3% first-year bonus.
No annual fee and cash rewards don't expire as long as your account remains open.
0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that's currently 18.24% - 28.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%. Balance transfers may not be used to pay any account provided by Bank of America.
Contactless Cards - The security of a chip card, with the convenience of a tap.
This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

Slickdeals may be compensated by Bank of America.
Created 08-07-2023 at 10:04 AM by EfficientGame645
in Credit Cards (2) Bank of America - Bank Advertiser
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Deal
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+74
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These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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Joined Sep 2009
L10: Grand Master
> bubble2 15,317 Posts
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Knightshade
01-12-2024 at 11:15 AM.
01-12-2024 at 11:15 AM.
Quote from RagnarThor :
Do I have to report this to IRS? considered as income or considered as a rebate. And usually goes towards your credit card balance.

Credit card rewards where you have to spend to earn it are not considered income.
1
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Last edited by Knightshade January 14, 2024 at 05:06 PM.
Joined Oct 2023
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> bubble2 365 Posts
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SeriousHamster7877
01-13-2024 at 05:02 PM.
01-13-2024 at 05:02 PM.
weak

bofa is a crap company

i'd go with wells fargo before bofa
1
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Joined Oct 2023
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> bubble2 365 Posts
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SeriousHamster7877
01-13-2024 at 05:06 PM.
01-13-2024 at 05:06 PM.
Quote from oniserva :
Does it work that way? I know multiple credit checks in a short time make you look more risky, and credit karma, experian, and the like always seem to know what bank made the inquiry.

I'm not doing much with my credit anyway, just regular cash back on all purchases and the introduction bonuses when I can get them🤷 ♂️
i figure today that the cash back is best spent to pay down a balance (unless you can get some gift card you would actually use for more % off than you get in rewards on a credit card)

so then you can leave cash in a 5% savings account and keep getting 2% - 5% rewards for using cards
1
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Joined Mar 2010
L1: Learner
> bubble2 23 Posts
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guarneiri
01-14-2024 at 03:26 PM.
01-14-2024 at 03:26 PM.
ELI5: What does the "up to $2,500" part mean? Does that mean it only gives 3/2% cash back on $2500 worth of spending per quarter, or that you can only earn up to $2500 per quarter?

Earn 3% cash back in the category of your choice - now with expanded categories, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
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Joined Sep 2009
L10: Grand Master
> bubble2 15,317 Posts
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Knightshade
01-14-2024 at 05:08 PM.
01-14-2024 at 05:08 PM.
Quote from guarneiri :
ELI5: What does the "up to $2,500" part mean? Does that mean it only gives 3/2% cash back on $2500 worth of spending per quarter, or that you can only earn up to $2500 per quarter?
Max of $2500 spend per quarter (much like say the Chase Freedom and DiscoverIT cards limits are $1500/qtr spend)
[/QUOTE]


So either $75 cash back with no BoA status, or $131,25 (5.25%) with plat or better status on that $2500 spend.


Quote from SeriousHamster7877 :
weak

bofa is a crap company

i'd go with wells fargo before bofa

Why? For anyone who can afford Plat status with BoA the rewards structure is vastly better.

Plus they don't have a long history of creating fake accounts for their customers like WF does.
Reply
Joined Mar 2010
L1: Learner
> bubble2 23 Posts
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guarneiri
01-14-2024 at 05:27 PM.
01-14-2024 at 05:27 PM.
Quote from Knightshade :
Max of $2500 spend per quarter (much like say the Chase Freedom and DiscoverIT cards limits are $1500/qtr spend)

So either $75 cash back with no BoA status, or $131,25 (5.25%) with plat or better status on that $2500 spend.





Why? For anyone who can afford Plat status with BoA the rewards structure is vastly better.

Plus they don't have a long history of creating fake accounts for their customers like WF does.[/QUOTE]


So, after spending 2500 (per quarter) in my choice category in addition to groceries and wholesale club, this essentially just becomes a 1% cashback card?
Reply
Joined Sep 2009
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> bubble2 15,317 Posts
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Knightshade
01-14-2024 at 06:51 PM.
01-14-2024 at 06:51 PM.
Quote from guarneiri :
So, after spending 2500 (per quarter) in my choice category in addition to groceries and wholesale club, this essentially just becomes a 1% cashback card?

Yeah- same as the freedom or discoverIT cards become 1% cards after their $1500 quarterly caps or USB Cash Plus does after $2000 quarterly spend-- this is pretty typical of the highest category-specific bonus cards.
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Joined Oct 2015
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iAmErik
01-15-2024 at 08:23 AM.
01-15-2024 at 08:23 AM.
Quote from PurpleRoad146 :
This doesn't make sense at all. Let's say I have 100k available to sit in a checking account (I don't).
I can let that money sit in Bank of America to get "preferred awards status", which after three months gives me an additional 2.25% cashback on purchases in a single category (say online stores like amazon) which assumes I know what category a purchase will be applied to (I don't).

OR I can put that 100k in treasury bills that return 5% non-competitively over 13 weeks... who the hell would pick first option???

Edit: I have nothing against this card or this deal, but definitely don't go into this card for preferred rewards...
From my understanding, you can have the 100k invested via their Merrill Lynch account and you can still have preferred awards status.
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Joined Dec 2004
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> bubble2 448 Posts
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zaarel
01-15-2024 at 06:35 PM.
01-15-2024 at 06:35 PM.
I just got a new Wells Fargo card with 15 months 0 interest and spend $500 in the first 3 months get $200 cash back
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Joined Dec 2016
L3: Novice
> bubble2 125 Posts
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AL68
01-15-2024 at 08:27 PM.
01-15-2024 at 08:27 PM.
Quote from iAmErik :
From my understanding, you can have the 100k invested via their Merrill Lynch account and you can still have preferred awards status.
This is true, I have a brokerage cd and as a preferred member, I have free safe box but their savings is giving me pennies. Is there anything else I should take advantage of since I'm letting them hold so much money? I have money in other banks and it seems like their promotions and savings are much better. At this point, if it weren't for the safe box, I'd move all money out of bofa.
Reply
Joined May 2008
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> bubble2 641 Posts
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B0000rt
01-15-2024 at 08:39 PM.
01-15-2024 at 08:39 PM.
Quote from AL68 :
This is true, I have a brokerage cd and as a preferred member, I have free safe box but their savings is giving me pennies. Is there anything else I should take advantage of since I'm letting them hold so much money? I have money in other banks and it seems like their promotions and savings are much better. At this point, if it weren't for the safe box, I'd move all money out of bofa.

IRAs will also count, so you roll those 401ks and hit Diamond Wink
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Joined Dec 2016
L3: Novice
> bubble2 125 Posts
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AL68
01-15-2024 at 09:01 PM.
01-15-2024 at 09:01 PM.
Quote from B0000rt :
IRAs will also count, so you roll those 401ks and hit Diamond Wink
Is it worth it? Can bofa do better than my current employer's retirement account? Bofa rewards don't seem to do much for me, as stated in my previous comment. I do have appointment coming up with Merrill advisor on an cd maturity and will ask about IRA.
Reply
Joined Feb 2018
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Nyi-NyiT
01-17-2024 at 01:50 PM.
01-17-2024 at 01:50 PM.
Quote from fmo :
FYI there is a fee on foreign currency purchases just in case anyone was wondering.
which card is good for foreign currency purchases??
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Joined Jul 2006
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Troblin
01-17-2024 at 01:58 PM.
01-17-2024 at 01:58 PM.
Quote from Nyi-NyiT :
which card is good for foreign currency purchases??

Boa travel rewards. 1.5% on all purchases (2.62 after 70%).

Card is lackluster, but no foreign transaction fees
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Joined Feb 2018
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Nyi-NyiT
01-17-2024 at 02:09 PM.
01-17-2024 at 02:09 PM.
Quote from Troblin :
Boa travel rewards. 1.5% on all purchases (2.62 after 70%).

Card is lackluster, but no foreign transaction fees
thanks a million
Reply
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