Need That Money

Maximizing Rewards with Bank of America Customized Cash Rewards Credit Card

Bank of America Customized Cash Rewards Credit Card: Get Rewarded for Using Your Card

Are you tired of using credit cards that offer no rewards and charge high annual fees? Bank of America Customized Cash Rewards Credit Card could be the solution you’re looking for.

This credit card is perfect for those who love to spend money and enjoy being rewarded for it. The Bank of America Customized Cash Rewards Credit Card offers a range of features and benefits that make it stand out from other credit cards.

Firstly, this credit card is free of annual fees, which means you don’t have to worry about paying a yearly charge for using it. Secondly, it offers an introductory 0% APR for purchases and balance transfers for the first 15 billing cycles after account opening, making it an attractive option for balance transfers.

The most significant advantage of the Bank of America Customized Cash Rewards Credit Card is the cashback reward offered. You can get cash back in three categories: 3%, 2%, and 1%.

The 3% category provides cash back on gas, online shopping, travel, dining, drugstore bills, and home furnishings. The 2% category offers cash back for grocery store and wholesale club purchases while the 1% category provides cashback for all other purchases.

There is a quarterly limit of $2,500 on rewards across all categories. However, it is worth noting that the 3% category has a cap of $75 per quarter, which means you can earn up to $300 per year if you max it out every quarter.

Maximizing Bank of America Customized Cash Rewards

To get the most out of Bank of America Customized Cash Rewards Credit Card, you need to adopt a strategic approach to your spending. The first step is to ensure that you are meeting the $2,500 quarterly limit across all categories.

If that is achieved, your next goal should be to maximize the rewards in the 3% category. The 3% category offers the most significant rewards and includes popular expenses such as gas, groceries, dining, travel, and drugstore bills.

To maximize the rewards, you should focus on using your Bank of America Customized Cash Rewards Credit Card for these expenses. This will help you to earn the maximum amount of cashback every quarter.

Additionally, new cardholders are eligible for a cash reward bonus offer of $200, which you can earn by spending at least $1,000 within the first 90 days of account opening. This bonus offer is a great way to jumpstart the rewards earning process.

If you bank with Bank of America or Merrill, you can get even more rewards through their Preferred Rewards loyalty program. This program offers volume-based rewards, which means that the more you have in your checking, savings, or investment account, the higher your reward rate will be.

Preferred Rewards members can earn between 20% to 75% more rewards, depending on their account volume.

The Importance of Frequent Usage

One final tip to maximize your rewards is to use your Bank of America Customized Cash Rewards Credit Card frequently. Using your card regularly will help you to hit the $2,500 quarterly limit, which means you can earn the maximum amount of cashback every quarter.

Additionally, the more frequently you use your card, the higher your reward earnings will be.

Final Words

The Bank of America Customized Cash Rewards Credit Card is an excellent option for people who love earning rewards while spending. It offers no annual fees, an introductory 0% APR, and cashback rewards in three different categories.

By using the card strategically, you can maximize your rewards and earn the most cashback every quarter. If you’re a Bank of America or Merrill customer, you can earn even more rewards through the Preferred Rewards loyalty program.

So, if you’re looking for a credit card that will reward you for your spending, the Bank of America Customized Cash Rewards Credit Card is a great option.

Redeeming Bank of America Customized Cash Rewards

One of the best features of the Bank of America Customized Cash Rewards Credit Card is the cashback rewards program. After spending a good amount of money on qualifying purchases, it’s exciting to see the rewards add up.

Even better, there are many options for redeeming those rewards. Here’s a closer look at the details of the Bank of America Customized Cash Rewards redemption process and some tips for maximizing rewards.

Redemption Options and Process

There are several options available when it comes to redeeming cashback rewards from the Bank of America Customized Cash Rewards Credit Card. The simplest and most common option is to receive a statement credit.

This is usually the fastest option, as the credit is usually processed within 24-48 hours and will show up on your billing statement as a credit. You can also schedule automatic redemptions, which is a great option to ensure that rewards are used efficiently.

Other redemption options include direct deposit into a Bank of America checking or savings account, direct deposit to a Merrill account, an investment account, or a 529 account. You can also request a check to be mailed to you.

It’s essential to note that there’s a minimum redemption amount of $25 for most redemption options, and the rewards may take up to 7-10 business days to receive, depending on the option selected.

Maximizing Rewards with Preferred Rewards

One of the best ways to maximize your rewards is through Bank of America’s Preferred Rewards loyalty program, which offers a way to earn more cashback rewards on qualifying purchases. Depending on the tier of membership, you can earn between 25% and 75% increased rewards on every purchase.

In the Gold tier, you earn a 25% bonus on your rewards. In the Platinum tier, your rewards boost up to 50%, while in the Platinum Honors and higher tiers, there’s up to a 75% increase.

This program offers a fantastic way for cardholders to earn even more rewards on everyday purchases.

Bank of America Customized Cash Rewards FAQ

Earning Rewards

You can earn rewards on eligible purchases such as gas, groceries, travel, dining, drugstore bills, home furnishing, online shopping, and wholesale club purchases. To be eligible for or earn rewards, you must be signed up for the program, use the card for purchases, and make timely payments.

Expiration Date of Rewards

Cashback rewards from the Bank of America Customized Cash Rewards Credit Card have no expiration date. As long as the credit card account is active, the rewards will not expire, giving you the flexibility to save up or use them on your schedule.

Cashback Redemption Options

Bank of America Customized Cash Rewards offers many redemption options, including statement credits, direct deposit, check, and automatic redemption. Statement credits are the most popular option as they are fast and easy to use.

Cashback Limits

The maximum cashback reward is $2,500 per quarter across all categories but the 1% category, which has unlimited earning potential. It is worth noting that cash rewards can still be earned at the flat rate of 1% cashback for any purchase that exceeds the quarterly limit.

Credit Limit

The minimum credit limit for the Bank of America Customized Cash Rewards Credit Card is $500, with the maximum credit limit being set based on the applicants’ creditworthiness. Individuals with multiple Bank of America accounts or banking relationships and those with high balances may see higher credit limits granted.

Final Verdict

The Bank of America Customized Cash Rewards Credit Card offers excellent benefits and rewards for everyday spenders. Redemption is easy and flexible, with a minimum redemption amount of $25.

Those looking to maximize their rewards can enroll in the Preferred Rewards program, which can help increase earnings up to 75%. There are no expiration dates for cashback rewards, and the credit limit varies based on individual creditworthiness.

Overall the Bank of America Customized Cash Rewards Credit Card is an excellent option for those looking for a no-fee credit card that provides cashback reward incentives. The Bank of America Customized Cash Rewards Credit Card offers a range of features and benefits, including no annual fees, a 0% APR introductory period, and cashback rewards in three categories.

To maximize rewards, focus on using the card for qualifying purchases and enrolling in Bank of America’s Preferred Rewards loyalty program, which can increase rewards up to 75%. Rewards can be redeemed through various methods, including statement credits, direct deposit, Merrill accounts, 529 accounts, and checks.

This card is an excellent option for those seeking a no-fee credit card that incentivizes spending. Remember to use your credit strategically, hit the maximum cap, and enjoy the flexibility of redeeming rewards.

Popular Posts