Exploring the Special Features of the Bank of America Customized Cash Rewards Credit Card

Bank of America Customized Cash Rewards Credit Card Eligibility –

The Bank of America Customized Cash Rewards Credit Card is a rewards credit card that allows cardholders to earn cash back on their purchases. To be eligible for this credit card, you must meet the following criteria:

  1. You must be at least 18 years of age.
  2. You must have a valid Social Security Number (SSN) or Tax Identification Number (TIN).
  3. You must have a good credit history. This means that you have a history of making on-time payments and have not had any recent bankruptcies, foreclosures, or collections.
  4. You must have a stable source of income. This can include employment income, retirement income, or investment income.
  5. You must be a resident of the United States.
  6. You must not be a current Bank of America credit card holder or have been a Bank of America credit card holder in the past 24 months.

Note that meeting these eligibility criteria does not guarantee approval for the credit card. When evaluating your application, Bank of America may also consider other factors, such as your credit score and debt-to-income ratio.

How to apply Bank of America Customized Cash Rewards Credit Card?

To apply for the Bank of America Customized Cash Rewards Credit Card, you can follow these steps:

  1. Go to the Bank of America website and find the Customized Cash Rewards Credit Card page.
  2. Click on the “Apply Now” button.
  3. Fill out the application form with your personal information, including your name, address, phone number, email address, and Social Security Number (SSN).
  4. Provide information about your income and employment, including your job title, employer, and salary.
  5. Review and accept the terms and conditions of the credit card.
  6. Submit your application.

You will then receive a decision on your application within a few minutes. You will receive your credit card within 7-10 business days if your application is approved.

Alternatively, you can visit a Bank of America branch and apply for the card with the help of a representative.

It’s important to note that you should only apply if you meet the eligibility criteria and have a good credit history; this will increase your chances of getting approved.

Bank of America Customized Cash Rewards Credit Card pros –

There are several benefits and advantages to having the Bank of America Customized Cash Rewards Credit Card, including:

  1. Flexible cash back rewards: Cardholders can earn cash back on their purchases and choose the categories in which they want to earn the most cash back. These categories may include gas, groceries, dining, travel, and more.
  2. Sign-up bonus: New cardholders can earn a bonus after meeting the minimum spending requirements.
  3. No annual fee: This credit card does not have an annual fee, which means cardholders can keep it long-term without incurring additional costs.
  4. 0% Introductory APR: cardholders can enjoy 0% APR for the first 15 billing cycles on purchases; this could be a good option for cardholders that plan to make a big purchase and pay it off over time.
  5. No Foreign transaction fee: cardholders can use their card internationally without additional fees.
  6. Customized alerts: cardholders can receive customized alerts via email or text to help them stay on top of their accounts.
  7. Additional benefits: Bank of America cardholders may be eligible for additional benefits such as purchase protection and extended warranty protection.
  8. Access to Bank of America’s banking services: As a cardholder, you’ll have access to various banking services such as online banking, mobile banking, and more.

It’s important to remember that credit card rewards, fees, and benefits are subject to change, so it’s a good idea to review the terms and conditions of the card before applying.

Bank of America Customized Cash Rewards Credit Card cons –

Like any credit card, the Bank of America Customized Cash Rewards Credit Card has some disadvantages or potential downsides to consider, including:

  1. High-interest rate: The card has a variable APR that can be as high as 24.99% for purchases, balance transfers, and cash advances; this means that carrying a balance from month to month will result in paying more in interest charges.
  2. Minimum redemption amount: Cardholders must have at least $25 in rewards to redeem cash-back rewards. This may make it difficult for some cardholders to redeem their rewards quickly.
  3. Spending cap: Cardholders may be limited in the amount of cashback they can earn in specific categories.
  4. Eligibility criteria: not everyone will be able to qualify for the card. Those who don’t meet the criteria may be denied.
  5. No introductory balance transfer offer: Some cards offer an introductory 0% balance transfer rate. This card does not have that option.
  6. No travel benefits: Unlike other credit cards, the Bank of America Customized Cash Rewards Credit Card does not offer travel benefits such as free checked bags or flight priority boarding.
  7. Potential for fees: The card may include fees for late payments, cash advances, and balance transfers.

It’s important to weigh the pros and cons of the card and compare it to other credit card options to determine if it is the best fit for your financial needs and goals. Always read the terms and conditions and understand the fees and rewards before applying.

Bank of America Customized Cash Rewards Credit Card special features

The Bank of America Customized Cash Rewards credit card has several special features, including:

  • Customizable cash back rewards: cardholders can choose to earn cash back in the categories that matter most to them, such as gas, groceries, or online shopping.
  • No annual fee: there is no annual fee for this credit card.
  • Sign-up bonus: new cardholders may be eligible for a sign-up bonus when they meet specific spending requirements.
  • Preferred Rewards: Bank of America customers may be eligible for extra rewards when enrolled in the Preferred Rewards program.
  • Zero liability: cardholders are not responsible for unauthorized transactions made with their card.
  • Fraud monitoring: Bank of America monitors transactions for suspicious activity and alerts cardholders if they detect something.
  • Chip technology: this card has a chip embedded for added security when making personal purchases.
  • Contactless payments: cardholders can make purchases by tapping their card against a terminal that supports contactless payments.
  • Online and mobile banking: cardholders can manage their account and make payments online or through the mobile app.

Featured Image Credit: My Bank Tracker

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Harish is the editor at howto Finance. Here we publish high quality trending news topics on Business, Finance, Loans and Credit-Cards etc. Our editorial includes worldwide topics.

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