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Bank of America® Customized Cash Rewards Credit Card: $200 Cash Rewards Bonus If Spend $1,000 on Purchases in First 90 Days
Bank of America is offering $200 online cash rewards bonus after you make at least $1,000 on purchases in the first 90 days of account opening with their Bank of America® Customized Cash Reward credit card. No Annual fee.
Card Details:
Card Details:
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- Earn 3% cash back in the category of your choice, 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.
- If you're a Preferred Rewards member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.
- No annual fee and no expiration on rewards.
- 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR will apply. A 3% fee applies to all balance transfers.
- 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.
Created 03-07-2023
at 10:45 AM
by EfficientGame645
in
Credit Cards
(2)
Bank of America - Bank Advertiser
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40 Comments
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The $2,500 spend is between 2% categories like groceries, Costco, Sam's and 3% for your top category per quarter. That's the biggest drawback. Most family spend between $400 to $500 or more a month on groceries. That's close to $1,500 at 2%.
Even with plat status you're generally going to want to use your $2500 quarterly cap for the 5.25% category you can change each month of the quarter....
If you're not a traveler (ie cash back is more important to you than otherwise more valuable travel points) then you'll still be able to get 5% groceries in at least 2 or 3 quarters every year with rotating category cards anyway- or every month (up to $500/mo) on Citi custom cash-- so why waste lower-reward cap space on this card with grocery stores?
Even for Costco you're going to have 5% options with those same cards at least 2 quarters of the year, and for the other two quarters if you can't max the BoA $2500 cap then maybe with plat status, for a non-traveler, it's worth using there for 3.5% I guess, travelers would do better using an USBAR for 3x mobile wallet points, worth 4.5% toward travel (as would non travelers who can max the 5.25% category on the BoA card)
Lastly there's always the option to have more than 1 of these BoA cards- each having its own cap.
Even with plat status you're generally going to want to use your $2500 quarterly cap for the 5.25% category you can change each month of the quarter....
If you're not a traveler (ie cash back is more important to you than otherwise more valuable travel points) then you'll still be able to get 5% groceries in at least 2 or 3 quarters every year with rotating category cards anyway- or every month (up to $500/mo) on Citi custom cash-- so why waste lower-reward cap space on this card with grocery stores?
Even for Costco you're going to have 5% options with those same cards at least 2 quarters of the year, and for the other two quarters if you can't max the BoA $2500 cap then maybe with plat status, for a non-traveler, it's worth using there for 3.5% I guess, travelers would do better using an USBAR for 3x mobile wallet points, worth 4.5% toward travel (as would non travelers who can max the 5.25% category on the BoA card)
Lastly there's always the option to have more than 1 of these BoA cards- each having its own cap.
I don't waste my cap on groceries anyway. I have the VentureX for general purchases, Capital One savor for dining, entertainment, and groceries. I transfer the savor cash back to my miles on the VentureX. Lastly, this customized cash is for gas. Not looking to maximize rewards, just simplify them. To be honest, I barely use customized cash.
VentureX and Savor setup with no caps
10 miles on Hotels, Car rentals booked through Capital One Travel.
10 miles on Uber rides and Uber Eats.
8 miles through Capital One Entertainment
5 miles on flights booked through Capital One Travel.
4 miles on dining.
4 miles on entertainment.
4 miles on popular streaming services.
3 miles at grocery stores.
2 miles on everything else.
VentureX and Savor setup with no caps
10 miles on Hotels, Car rentals booked through Capital One Travel.
10 miles on Uber rides and Uber Eats.
4 miles on entertainment.
Cap one is a lot less garbage an ecosystem than it used to be- but especially if you travel any significant amount Chase remains a higher value option (plus the stuff you can get out of the "everything else" category on rotating basis with freedom, or via a few other tricks with 5x GCs on Ink Cash, etc...)
But I have never paid for a BofA account. And at one point they bought my mortgage and I scored a free safety deposit box... and I still have it. Plus over 5% cash back??? I am at their highest level due to retirement ira accounts through Merril Lynch.
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Two best "everyday" options are:
This card (with plat honors) for non-travelers since you get 3.5% cash back all year in store (within the 2500/qt spend cap)- but the real trick is costco.com gift cards--- You get 5.25% with Plat honors and then it spends just like cash at Costco. Obviously use this for groceries and other things you don't care about warranty on... but it's a lot better than a mere 3.5% using the card directly.
OR
US Bank Altitude Reserve for travelers- since you can use digital wallets at Costco you get 3x USB-AR points, which are worth 4.5% for travel costs.
And then at least 2 quarters of the year you can get 5% cash and 5x UR respectively with Discover and Chase Freedom.... so if you want to REALLY min/max you have more than 1 of each of those (2 would give you a 3k/quarter spend cap) and then you max out the 3k in those two quarters... using costco gift cards to max it, and using those in later quarters.
Amazing
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