Despite its convoluted rules, the Bank of America Customized Credit Card sets out from other cash-back cards as more than just a good choice. Among similar credit cards. Thus this $0 annual fee card allows users to select from a range of 3 percent bonus categories. And change one’s mind at least one time every month. It is indeed a particularly great value for people who could really improve their credit levels by maintaining big accounts with Bank of America or Merrill Lynch.
Features of the Bank of America Customized Cash Rewards credit card
This Bank of America Customized Credit Card offers cashback rewards. There is no annual fee associated with this credit card. It does, however, provide a $200 signup bonus if a customer makes a $1000 purchase with the card during the first 90 days of account opening. This credit card offers a good deal of value. As a result, this prize is only for those who spend a small amount of money.
However, the earnings method of this credit card is a little confusing. There are benefits associated with the first $2,500 in total reward group grocery club expenditure per quarter. Hence, users will get a 3% return on a category of their preference. And a return on grocery shops and wholesale clubs. But after that, customers will get a 1% return on such transactions. All the other transactions are eligible for a 1% rebate.
One of the six main alternatives is available when picking a 3% return reward category. Gasoline, e-store, restaurants, travel, pharmacies, and household equipment and interiors are just some of the examples. The category can be changed up around once every month as desired by the customer of this credit card. And according to the issuer, if they don’t make a decision, the default 3 percent cash-back category will indeed be gas. Except they modify it, the chosen category would be like that every month.
Other features of the Bank of America Customized Credit Card
This same Bank of America Preferred Rewards program allows cardholders of this credit card to receive higher benefits ratios. While redeeming cash rewards directly into one’s Bank of America account and also as a cashback reward. Hence there are no least reclamation criteria with such a card.
However, there is a $25 necessary redeeming restriction for all of the other redeeming choices. Credit card cashback can be claimed for a report credit, a cheque, a direct transfer to a Bank of America checking or savings account. Thus a donation to a qualified Merrill account, or a direct deposit into such an approved 529 plan. One could also choose to be automatically redeemed if they sign up.
Paying strict regard toward the reward category funding levels before jumping on this deal. When users spend well over $2,500 in the first quarter on this credit card’s 3% and 2% categories. Hence Customers might well be able to earn more points. Thus with just a credit card that doesn’t even have such restrictions.
Benefits of the Bank of America Customized Credit Card
Opportunity to choose one’s 3% category
Furthermore, there are not many rewards credit cards that provide customers the option of picking their own reward category. And almost none of those, unlike the Bank of America Customized Cash Rewards credit card. However, allows customers to adjust their choice up to once every month.
This helps make the credit card appealing to users who value flexibility. Perhaps especially since the card’s bonus categories are relatively broad. Consequently, the meals category is diverse. Numerous eating establishments, rapid eateries, cafes, hookah lounges, casinos, pubs, and bars and pubs are also included in this extra sector.
This credit card provider verifies that all this includes retailers like Starbuck, Grofers, McDonald’s, and many more. Take the card’s home remodeling individual categories range. Perhaps this includes everything from Ace Hardware to Williams-Sonoma. As well as heating and cooling repairs, plumbing, gardeners, vintage stores, gardeners, and far more.
Availability of loyalty bonuses
Whereas the Bank of America Customized Credit Card provides a huge range of benefits. So its rewards ratios pale in comparison to those offered by other cards that has no anuual charges. But o Only if user a member of the Bank of America Preferred Cashback rewards.
Among other things, users can earn 25% to 75% more. Thus on their qualified Bank of America credit card rewards through this program. When customers aggregate balances in Bank of America or Merrill accounts exceed certain levels. Hence they may be eligible for the Preferred Rewards program.
Moreover imagine you had more than $100,000 in Bank of America. And Merrill Lynch accounts and were eligible for a 75 percent rewards bump. Instead of earning the typical 3% cash back on your chosen category. Hence you’d essentially be earning 5.25 percent back on purchases in that category. That’s more than you’d get with other no-annual-fee credit cards.
0% APR period and no annual fee
Users can earn rewards regardless of how little they invest well with Bank of America Customized Cash Rewards credit cards. So because yearly cost is zero, this really is the case. Therefore the card also offers an initial 0% APR offer on transactions and cash advances for 15 billing cycles. Hence followed by a continuous APR of 13.99 percent -23.99 percent Variable APR. This provides customers with plenty of time to pay off a major buy.
Conclusion about the Bank of America Customized Credit Card
For all those who spend a lot of money every month. Hence the Bank of America Customized Cash Rewards credit card’s reward expenditure restrictions may make a much less attractive offer. However, this card is a terrific choice if the user is a smart buyer who wants to choose their favorite 3 percent cash-back bonus categories. Thus especially if users maintain a great deal of money with Bank of America or Merrill Lynch.
As a matter of fact getting the Bank of America Customized Credit Card is a great deal for you. But we advise that you visit our homepage to learn more about their credit cards. Thus before making a wise choice. We hope this article helps you make up your mind about which credit card to choose for your life.