Bank of America Cash Rewards

About

The Bank of America Cash Rewards credit card offers a flexible rewards program that allows cardholders to earn cash back on various purchases. It provides 3% cash back on a category of choice, which can be selected from options like gas, online shopping, dining, travel, drugstores, and home improvement. Additionally, it offers 2% cash back at grocery stores and wholesale clubs. These bonus categories are capped at $2,500 in combined purchases per quarter, after which the rewards rate drops to 1% for those categories. All other purchases earn an unlimited 1% cash back. The card has no annual fee and offers a $200 online cash rewards bonus after spending $1,000 in the first 90 days. Cardholders can change their 3% bonus category once a month through online banking or the mobile app. The rewards can be redeemed with no minimum requirement. Furthermore, cardholders can potentially increase their rewards earnings by participating in the Bank of America Preferred Rewards program, which offers a 25% to 75% boost on rewards based on their combined account balances. This card is ideal for those who want to customize their rewards based on their spending habits.