How does the Bank of America® Cash Rewards credit card work? The Bank of America® Customized Cash Rewards credit card earns 3% back on a category of your choice and 2% back on grocery store and wholesale club spending, on up to $2,500 per quarter in combined spending in those categories.

A cash back or cash rewards credit card gives you cash rewards for spending. The reward is usually a percentage of the amount you spend. Therefore, if a card offers 1 percent cash back, spending $4,500 over the course of a year would give you a reward of $45.

Long 0% intro APR offer The BankAmericard® credit card is primarily a balance transfer card, with one of the longest intro APR offers on the market. The card offers an introductory 0% APR promotion for 18 billing cycles on balance transfers made within the first 60 days after the account opens, as well as on purchases.

What kind of card is Bank of America? Bank of America cards are credit cards and debit cards on the Visa or Mastercard network. For example, the Bank of America® Customized Cash Rewards credit card is a Visa card for people with excellent credit that offers 1 - 3% cash back on purchases.

The Bank of America® Unlimited Cash Rewards credit card is an excellent choice for earning rewards beyond the Customized Cash card's spending limit. It will also be great for purchases at retailers that typical bonus categories don't cover - including Walmart, Target and other superstores.

Redeem your cash rewards for any amount, anytime for statement credits, deposits made directly into a Bank of America® checking or savings account, or for credit to an eligible account with Merrill. Redemptions for a contribution to a qualifying 529 account with Merrill or for a check start at $25.

Credit cards generally offer one of three reward structures: cash back, points or miles. The type of rewards you earn depends on the card you have.

Advantages and Disadvantages of Cash Back You get cash back for spending your money, whether using your credit or debit card or even shopping online. Cash-back apps and websites may offer discounts on products along with cash-back rewards. Some credit cards with cash back offer a sign-up bonus.

Bank of America Customized Cash pros and cons Bank of America Preferred Rewards members can earn up to 75 percent more cash back on all purchases. The card offers a generous intro APR period on purchases and balance transfers, so it's a great fit if you need to finance a purchase or pay off debt.

NerdWallet's Best Bank of America Credit Cards of October 2023

• Bank of America® Customized Cash Rewards credit card: Best for Bonus category cash back.
• Bank of America® Unlimited Cash Rewards credit card: Best for Simple cash back.
• Bank of America® Travel Rewards credit card: Best for Travel.

WalletHub's Take: The Bank of America® Premium Rewards® credit card is a great option for people with excellent credit who spend at least $1,334 per month and like to travel as well as dine out. And it's especially attractive for people with a Bank of America checking or savings account or a Merrill investment account.

Bank of America® Premium Rewards® credit card Unlimited 2 points for every $1 spent on travel and dining purchases and 1.5 points per $1 spent on all other purchases. Receive up to $100 in Airport Security statement credits for either Global Entry or TSA PreCheck® application fees, every four years.