Bank of America Cash Rewards MastercardBank of America Business Advantage Customized Cash Rewards Mastercard
Issued by Bank of America
Reviewed by the CardCurator Editorial Team
Before you apply
Use this quick check so you click out only when the offer and fee structure really fit.
- Best fit: strongest ongoing earning is 3x on Gas Stations & EV Charging.
- Bonus hurdle: spend $5,000 in 3 months.
- Annual fee: No annual fee.
- Who should skip: people chasing premium perks, lounge access, or outsized transfer-partner upside.
- What happens next: you will leave CardCurator for the issuer or partner application page in a new tab.
Confirm current issuer terms and approval rules before you submit an application.
Earning Categories
Current Welcome Bonus
Earn a $500 online cash rewards bonus after $5,000 in net purchases in the first 90 days
Year 1 net value: +$5 (bonus − annual fee)
Maximize Your Bank of America Cash Rewards Points
Expert tips to get the most value from this program
Program Overview
Bank of America Cash Rewards is a cashback program for BofA credit cards. The flagship Customized Cash Rewards card lets cardholders choose one 3% category each month (gas, online shopping, dining, travel, drug stores, or home improvement/furnishings), with 2% on grocery stores and wholesale clubs (up to $2,500 in combined 2%/3% purchases per quarter) and 1% on everything else. Preferred Rewards members (with $20K–$100K+ in BofA/Merrill accounts) receive a 25–75% bonus multiplier on rewards, effectively turning 3% into up to 5.25% — one of the highest effective cashback rates in the market for eligible customers. Best for: Bank of America relationship customers who qualify for Preferred Rewards and have strong spending in a single bonus category.
Earning Tips
BofA Customized Cash Rewards: - 3% on your chosen category (change monthly via app) - 2% on groceries and wholesale clubs - 1% on everything else - $2,500/quarter cap on combined 2%+3% category spending Preferred Rewards multiplier (key advantage): - Gold tier ($20K+): 25% bonus → 3% becomes 3.75%, 2% becomes 2.5% - Platinum tier ($50K+): 50% bonus → 3% becomes 4.5%, 2% becomes 3% - Platinum Honors tier ($100K+): 75% bonus → 3% becomes 5.25%, 2% becomes 3.5% BofA Unlimited Cash Rewards: 1.5% base (1.875%–2.625% with Preferred Rewards) — best as a simple flat-rate complement to Customized Cash. Strategy: - If you have significant BofA/Merrill assets, prioritize maximizing Preferred Rewards tier - Choose the 3% category based on your highest non-recurring monthly spend - Use Customized Cash for your chosen bonus category and another card (e.g., Amex Gold, Chase Freedom) for dining/groceries if not capped
Redemption Tips
Cashback redemptions (always 1¢/point): - Statement credit - BofA checking/savings account deposit - Reduced minimum purchase (credit toward statement) No optimization needed — all redemptions are equal at 1¢/point. Rewards expire if the account is closed; otherwise they don't expire.
Card Details
Other Bank of America Cash Rewards Cards
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Approval Insights
Recent community application data for this card. Issuers make the final decision, but this gives you a public read on how similar applicants have been doing lately.
How to use this
- Use the approval summary as a signal, not a guarantee.
- Combine it with issuer rules like 5/24, Amex lifetime language, and velocity limits.
- Open the full approval page to see recent datapoints, profile bands, and notes.
Most card pages stop at a generic credit-score range. CardCurator layers real community submissions on top of card detail, rewards value, and application strategy.
Frequently Asked Questions
- What is the annual fee for the Bank of America Business Advantage Customized Cash Rewards Mastercard?
- The Bank of America Business Advantage Customized Cash Rewards Mastercard has no annual fee.
- What is the best category to use the Bank of America Business Advantage Customized Cash Rewards Mastercard for?
- The Bank of America Business Advantage Customized Cash Rewards Mastercard earns 3x on Gas Stations & EV Charging, making it the strongest earning category for this card.
- What is the Bank of America Business Advantage Customized Cash Rewards Mastercard welcome bonus in 2026?
- The Bank of America Business Advantage Customized Cash Rewards Mastercard currently offers a welcome bonus of $500 statement credit after spending $5,000 in the first 3 months.
- Does the Bank of America Business Advantage Customized Cash Rewards Mastercard charge foreign transaction fees?
- Yes, the Bank of America Business Advantage Customized Cash Rewards Mastercard charges a 3% foreign transaction fee on purchases made outside the United States.
- How much are Bank of America Cash Rewards points worth?
- Bank of America Cash Rewards points are worth approximately 1.00¢ per point on average, with premium redemptions reaching up to 1.00¢ per point. Values based on industry estimates including The Points Guy and NerdWallet.
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