Bank of America Customized Cash Rewards
Bank of America · Visa · No annual fee · Earns Cash Back
The 3% choice and 2% grocery/wholesale rates share a $2,500 quarterly cap; BofA Rewards (which replaced Preferred Rewards in May 2026) advertises a bonus but no longer states the old up-to-5.25% multiplier.
Rates verified August 10, 2026 · Issuer source: bankofamerica.com
Rewards by category
| Category | Rate |
|---|---|
| DiningChoose this category · up to $2,500/qtr (combined) · Lower rate after the cap | 3% |
| GasChoose this category · up to $2,500/qtr (combined) · Lower rate after the cap | 3% |
| Other TravelChoose this category · up to $2,500/qtr (combined) · Lower rate after the cap | 3% |
| DrugstoresChoose this category · up to $2,500/qtr (combined) · Lower rate after the cap | 3% |
| Online RetailChoose this category · up to $2,500/qtr (combined) · Lower rate after the cap | 3% |
| Home ImprovementChoose this category · up to $2,500/qtr (combined) · Lower rate after the cap | 3% |
| FurnitureChoose this category · up to $2,500/qtr (combined) · Lower rate after the cap | 3% |
| Groceriesup to $2,500/qtr (combined) · Lower rate after the cap | 2% |
| Wholesale Clubsup to $2,500/qtr (combined) · Lower rate after the cap | 2% |
| Everything else | 1% |
Our take
The Customized Cash Rewards is built for people whose biggest spending category moves around. You pick one of six 3% categories, from dining, gas, online retail, drugstores, home improvement, or other travel, and groceries and wholesale clubs earn 2% automatically. With no annual fee, that flexibility explains why it ranks second in our drugstores, online retail, and home improvement tables.
The catch is the cap. The 3% choice category and the 2% grocery and wholesale club rates share one combined cap, and spending beyond it drops to a lower rate. You also have to actively choose your 3% category, since it does not adjust on its own. Everything else earns the 1% base rate, and rewards are plain cash back, worth exactly face value.
In a small wallet, this card works best as the specialist. Point the 3% category at your largest flexible expense, let groceries and wholesale clubs ride at 2%, and hand everything else to a flat-rate card, because the 1% base is a weak floor. Once you hit the combined cap, that overflow spending belongs on the flat-rate card as well.
The math
Run $400 a month of dining through this card and you're earning about $144 a year at our conservative valuations. There's no annual fee to earn back — everything above the 1% base rate is pure upside.
Where it lands in our rankings: #1 for home improvement · #2 for online retail · #3 for drugstores
Sign-up bonus
200 Cash Back after $1,000 spend in 90 days.
Common questions
- Does Bank of America Customized Cash Rewards have an annual fee?
- No — Bank of America Customized Cash Rewards has no annual fee.
- What does Bank of America Customized Cash Rewards earn on dining?
- 3% on dining (choose this category; up to $2,500/qtr (combined); lower rate after the cap).
- What rewards does Bank of America Customized Cash Rewards earn on everything else?
- 1% on all other purchases, in Cash Back.
- Can the Bank of America Customized Cash Rewards still earn 5.25% back?
- Not verifiably. That figure came from the Preferred Rewards Platinum Honors boost, and Bank of America replaced Preferred Rewards with the BofA Rewards program in May 2026. The card page now advertises a rewards bonus for enrolled BofA Rewards customers but no longer states a multiplier, so the old 5.25% math can't be assumed. The dependable numbers are 3% in your chosen category and 2% at grocery stores and wholesale clubs, under the shared quarterly cap — anything BofA Rewards adds is unquantified upside.
- Does the Bank of America Customized Cash Rewards charge foreign transaction fees?
- Yes. It adds a 3% foreign transaction fee, so a $100 purchase abroad effectively costs $103 before any rewards. Even with other travel as your 3% category, that fee cancels the earn on purchases made outside the United States. Book travel from home on this card if you like, but carry a card with no foreign transaction fee for spending abroad.
Rewards details verified recently; issuer terms can change — confirm on the issuer's site before applying. Card names, logos, and the pages we link to belong to their respective owners. SwipeCaddy is not an affiliate and earns no commission from card sign-ups.