Key takeaways
- The Bank of America® Customized Cash Rewards credit card offers a flexible 3 percent cash back category that can be changed monthly.
- Changing your 3 percent category is simple through online banking or the mobile app.
- To maximize rewards, adjust your 3 percent category based on changes in your spending habits.
The Bank of America® Customized Cash Rewards credit card allows you to select a 3 percent cash back category each month to match your spending patterns and maximize rewards. Categories include gas and EV charging stations, dining, travel, online shopping, drug stores, and home improvement.
Here, we will explore how you can earn with the Bank of America Cash Rewards card, choose a 3 percent category, understand qualifying purchases, and make the most of these categories to earn more rewards.
What is the Bank of America Cash Rewards cash back structure?
The Bank of America Cash Rewards card allows you to earn 3 percent cash back in a chosen category, such as gas, online shopping, dining, travel, drugstores, or home improvement. You also earn 2 percent at grocery stores and wholesale clubs, and 1 percent on all other purchases.
There is a $2,500 combined limit for 2 percent and 3 percent category purchases each quarter, after which the rate drops to 1 percent. The card has no annual fee and offers a $200 online cash back bonus after spending $1,000 in the first 90 days.
Features of the Bank of America Cash Rewards cash back structure
The card provides flexibility in choosing the 3 percent cash back category based on your lifestyle. You can change the category once per month to align with your spending habits.
Can you choose your 3 percent cash back category?
You can select your 3 percent category when you get the card and change it monthly to match your anticipated spending.
Which purchases qualify for cash back?
Purchases qualify based on merchant category codes (MCC). Bank of America groups similar merchants together for higher chances of qualifying for 3 percent cash back.
How to choose your Bank of America Cash Rewards category
Steps to select or change your 3 percent category include analyzing spending habits, logging into your account, managing rewards, and choosing your preferred category.
When to change your 3% category
Change your category based on your monthly spending patterns to maximize earnings. Switch to categories like home improvement for renovations or travel for vacation bookings.
How to maximize the Bank of America cash back category rewards
To optimize earnings, choose the best category for your lifestyle, switch categories when needed, qualify for Preferred Rewards, and pair your card with a flat-rate cash back option.
The bottom line
The Bank of America Customized Cash Rewards card offers broad 3 percent categories for maximum cash back earnings. Plan purchases ahead and choose categories strategically to maximize rewards.
The Bank of America content in this post was last updated on September 9, 2024.