What the BOA Customized Cash Credit Card does
The BOA Customized Cash Credit Card is a rewards card from Bank of America that lets you choose which spending categories earn higher cash back rates. Instead of a fixed set of categories, you pick the ones that match your spending — groceries, gas, dining, travel, or drugstores — and earn a higher percentage back on those purchases. Everything else earns a lower flat rate. The card has no annual fee, which makes it worth considering if you spend enough in your chosen categories to offset the lower rate on other purchases.
The card is designed for people whose spending doesn't fit neatly into a standard rewards structure. If you spend heavily on groceries but rarely travel, or if you fill up at the pump constantly but eat out rarely, this card lets you optimize for your actual life rather than chase bonus categories you won't use.
Key Takeaways
- You choose up to two spending categories each month to earn higher cash back, with the rate varying by category and your creditworthiness.
- Purchases outside your chosen categories earn a flat 1% cash back, so the card only makes sense if you spend significantly in at least one category you select.
- The card carries no annual fee, making it a low-cost way to test whether category-based rewards fit your spending pattern.
- Cash back posts as a statement credit or can be redeemed for other options, though the mechanics depend on your specific account setup.
- Approval odds and the exact cash back rates you receive depend on your credit score and credit history with Bank of America.
How the cash back categories and rates work
You select up to two spending categories each month, and the cash back rate for those categories varies. The exact percentage you earn depends on your creditworthiness — Bank of America does not publish a single rate for all cardholders. Generally, the higher-tier rates for chosen categories range from 2% to 3%, while the flat rate on all other purchases is 1%. Some cardholders may see different rates based on their credit profile.
The categories you can choose from typically include groceries, gas stations, dining, travel, drugstores, and home improvement stores. You can change your selections once per month, so if your spending shifts — say you're planning a vacation next month — you can adjust accordingly. The catch is that you must actively choose your categories; if you don't, the card defaults to a single category, usually groceries.
Cash back accrues on every purchase in your chosen categories and on the 1% baseline for everything else. It typically posts as a statement credit monthly, though some accounts allow you to redeem it for other rewards or transfer it to a Bank of America investment account.
Who this card makes financial sense for
This card works best for someone with consistent, concentrated spending in one or two categories. If you spend $500 a month on groceries and choose that as your category, earning 2% or 3% back adds up to $10 to $15 monthly, or $120 to $180 a year. That's meaningful enough to justify keeping the card active. If your spending is scattered across many categories in small amounts, the 1% baseline rate on most purchases makes this card less attractive than a flat 2% cash back card.
The card also suits people who already bank with Bank of America and want to consolidate rewards into one account. If you have a checking account there, cash back can post directly as a statement credit, which some people find simpler than managing a separate rewards balance.
It is less suitable if you travel frequently and want airline miles or hotel points, or if you spend equally across many categories. In those cases, a card with fixed bonus categories or a flat-rate card may serve you better.
Credit score and approval requirements
Bank of America does not publish a minimum credit score for this card, but approval typically requires good to excellent credit — generally a score of 670 or higher, though the exact threshold varies. Your credit history with Bank of America also matters; existing customers with a positive account history may see approval at lower scores than new applicants.
The process process is straightforward: you explore online or in a branch, and Bank of America reviews your credit report and income. A decision usually comes within minutes to a few business days. If you are denied, you can ask for reconsideration or wait a few months and reapply after improving your credit profile.
Comparing this card to other cash back options
The BOA Customized Cash card competes mainly with fixed-category cards like the Chase Freedom Unlimited (which offers flat 1.5% back) and the Discover It (which offers rotating 5% categories). The advantage of the BOA card is flexibility — you choose your categories rather than being locked into what the issuer decides. The disadvantage is that the base rates are lower if you don't spend heavily in your chosen categories.
If you spend $200 monthly in groceries and $100 in gas, and you choose both as your categories, a 2.5% rate on groceries and 2.5% on gas nets you $7.50 monthly. The same spending on a flat 1.5% card nets you $4.50. The BOA card wins. But if your spending is $100 in groceries, $100 in gas, $100 in dining, and $100 in other categories, the BOA card earns roughly $3 monthly (assuming 2.5% on two categories and 1% on the rest), while a flat 1.5% card earns $4.50. In that scenario, the flat-rate card is better.
How to manage the card and maximize rewards
To get the most from this card, track your monthly spending and update your category choices before the month begins. If you know you'll spend $600 on groceries and $200 on gas next month, choose both categories. If next month you're planning a vacation and will spend $800 on travel, swap one of your categories for travel.
Set a calendar reminder on the first of each month to review and update your categories. Bank of America's mobile app and online portal make this straightforward — it takes less than a minute. Without active management, the card defaults to a single category, which wastes the flexibility that makes it worth carrying.
Pay your balance in full each month to avoid interest charges, which will quickly erase any rewards value. A 2.5% cash back reward is worthless if you're paying 20% interest on a carried balance.
Annual fees, foreign transactions, and other costs
The BOA Customized Cash card has no annual fee, which removes one barrier to keeping it active. There is no sign-up bonus, so you don't earn extra cash back for opening the account — you earn rewards only on actual spending.
Foreign transaction fees explore if you use the card outside the United States, typically 3% of the purchase amount. This makes the card less suitable for frequent international travelers unless you have another card without foreign fees for those purchases.
There are no other hidden costs: no balance transfer fees, no cash advance fees beyond standard credit card terms, and no inactivity fees. The card's cost structure is straightforward.
Frequently Asked Questions
Can I change my cash back categories more than once a month?
No, you can change your categories once per calendar month. If you change them on the 5th, you cannot change them again until the 1st of the next month. Plan your selections based on your expected spending for the full month.
What happens to cash back if I close the card?
Any cash back you've earned posts as a statement credit before the account closes. You won't lose rewards you've already accrued, but you'll stop earning new rewards once the account is closed.
Does the cash back rate change based on how much I spend?
No, the rate is fixed for your account based on your creditworthiness at the time of approval. It does not increase if you spend more in a category. However, Bank of America may periodically review your account and adjust rates, though this is rare.
Can I use this card if I have bad credit?
Approval is unlikely with a credit score below 650. If your score is lower, focus on rebuilding credit first, then reapply. Alternatively, consider a secured credit card to build history before explore for rewards cards.
Is the cash back taxable income?
No, cash back from credit card rewards is not considered taxable income by the IRS. It is treated as a reduction in the purchase price, not as income earned.