Credit Cards » Compare Credit Cards » Bank of America Customized Cash Rewards vs Chase Freedom Unlimited
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Bank of America Customized Cash Rewards vs Chase Freedom Unlimited

The BofA Customized Cash Rewards is more flexible, but the Chase Unlimited card will drive more rewards and benefits. Here's why.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: January 1, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: January 1, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

Both the Bank of America Customized Cash Rewards Credit Card and the Chase Freedom Unlimited offer decent cash back rewards, but they have different strengths and weaknesses.

Here is a comparison of the two cards to help you decide which one is right for you.

Chase Unlimited vs. BofA Cash Rewards: Comparison

With no annual fee and a generous welcome bonus, the Bank of America Customized Cash Rewards card is renowned for its flexibility. Cardholders can personalize their cashback rewards, earning higher percentages in categories of their choice. However, there is a cap that limit the cashback you can earn.

Chase Freedom Unlimited offer better travel rewards and better rewards ratio on travel benefits, makes it ideal for travelers. There are no limits or cap which is great for high spenders.

Bank of America® Customized Cash Rewards

chase freedom unlimited card

BofA Customized Cash Rewards
Chase Freedom Unlimited
Annual Fee
$0
$0
Rewards
3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings, 2% cash back at grocery stores and wholesale clubs and 1% cash back on all other purchases. The 3% and 2% cash back available on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter (then 1%)
5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1.5% cash back on all purchases.
Welcome bonus
$200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening.
additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year)- worth up to $300 cash back
0% Intro APR
15 billing cycles for purchases, and for any balance transfers made within the first 60 days of opening your account., then 18.24% – 28.24% Variable APR will apply. A 3% fee (min $0) applies to all balance transfers APR
15 months on purchases and balance transfers , then 20.24%–28.99% variable APR
Foreign Transaction Fee
3%
3%
Purchase APR
18.24% – 28.24% Variable APR will apply. A 3% fee (min $0) applies to all balance transfers
20.24%–28.99% variable
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Top Offers From Our Partners

Amex gold

Rewards Plan:
1X – 4X 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus:
60,000 points 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.

AMEX Blue Cash Preferred Card review

Rewards Plan:
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
Welcome Bonus:
$250 $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

Amex gold

Rewards Plan:
1X – 4X 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus:
60,000 points 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.

AMEX Blue Cash Preferred Card review

Rewards Plan:
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
Welcome Bonus:
$250 $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

Amex gold

Rewards Plan:
1X – 4X 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus:
60,000 points 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.

AMEX Blue Cash Preferred Card review

Rewards Plan:
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
Welcome Bonus:
$250 $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

Cashback Rewards Battle: A Side-by-Side Analysis

When comparing cashback rewards, there is a clear winner – the Freedom Unlimited card. As long as you spend on travel from time to time, it can drive you more cashback than the Customized card.

Bank of America® Customized Cash Rewards

chase freedom unlimited card

Spend Per Category
BofA Customized Cash Rewards
Chase Freedom Unlimited
$15,000 – U.S Supermarkets
$200 **
$225
$5,000 – Restaurants
$150 *
$150
$5,000 – Airline
$50
$250
$5,000 – Hotels
$50
$250
$4,000 – Gas
$40
$60
Estimated Annual Value
$490
$935

* 3% On Restaurants ** 2% On Supermarkets up to $5,000

Redeeming points with Chase Freedom Unlimited
Redeeming points with Chase Freedom Unlimited (Screenshot from Chase app)

Which Extra Benefits You'll Get With Each Card?

Besides the bonus points and welcome bonuses, both cards come packed with additional perks.  Overall, the Chase Unlimited card offers better extra benefits and protections than the BofA Customized card.

Bank of America Customized Cash Rewards

Bank of America® Customized Cash Rewards

  • Balance Connect® for overdraft protection: Link your Bank of America checking account to your credit card to prevent declined purchases and overdrafts, with no transfer fees, though other fees may apply.

BofA Overdraft protection
BofA Overdraft protection (Screenshot from Bank Of America app)
  • Account Alerts: Receive email or text alerts to stay informed about your balances and payment due dates, ensuring you never miss a payment.
  • FICO® Score: Opt-in to access your free monthly FICO® Score through your Mobile Banking app or Online Banking, helping you track your credit health.
BoFa card see credit score
Check your score on BofA app (Screenshot from Bank Of America)
Chase Freedom Unlimited

chase freedom unlimited card

  • Instacart+ Benefit: The Unlimited card provides a complimentary 3-month Instacart+ membership, offering unlimited deliveries with $0 delivery fees and reduced service fees on eligible orders.
  • 5% Cash Back/5x Points on Lyft Rides: It offers enhanced rewards for Lyft rides through March 31, 2025, giving you 5% cash back or 5x points on these purchases.
  • Cellular Telephone Protection: The Unlimited card provides up to $600 in cell phone protection when you pay your monthly cell phone bill with the respective card, subject to a $25 deductible.
  • Purchase Protection: The card offer purchase protection, covering your new purchases for 120 days against damage or theft, up to $500 per claim and $50,000 per account.
  • Extended Warranty Protection: The Freedom Unlimited card extends the time period of the U.S. manufacturer's warranty by an additional year on eligible warranties of three years or less.
  • Auto Rental Collision Damage Waiver: Get coverage for theft and collision damage when you decline the rental company's insurance and charge the entire rental cost to your card, applicable to most cars in the U.S. and abroad.
  • Trip Cancellation/Interruption Insurance: The card provide reimbursement for pre-paid, non-refundable passenger fares up to $1,500 per person and $6,000 per trip if your trip is canceled or interrupted due to covered situations.
  • My Chase Plan: It also offer the option to use My Chase Plan, allowing you to pay off eligible purchases of $100 or more in equal monthly payments with no interest, just a fixed monthly fee
my chase plan
Using My Chase Plan With the Unlimited card (Screenshot from Chase app)

When You Might Want the Chase Freedom Unlimited Card?

You might prefer the Chase Freedom Unlimited  over the Bank of America Customized Cash Rewards in the following situations:

  • You Spend On Travel and Dining: While both cards offer cashback, the Chase Freedom Unlimited might be a better choice if you frequently spend on travel and dining. It offers a solid cashback rate in these categories, making it a great option for foodies and frequent travelers.
  • You Want No Category Caps: The Chase Freedom Unlimited card has no category caps, so you can earn unlimited cash back on categories such as dining and drugstores regardless of how much you spend.
Top Offers From Our Partners

Amex gold

Rewards Plan:
1X – 4X 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus:
60,000 points 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.

AMEX Blue Cash Preferred Card review

Rewards Plan:
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
Welcome Bonus:
$250 $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

Amex gold

Rewards Plan:
1X – 4X 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus:
60,000 points 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.

AMEX Blue Cash Preferred Card review

Rewards Plan:
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
Welcome Bonus:
$250 $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

Amex gold

Rewards Plan:
1X – 4X 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus:
60,000 points 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.

AMEX Blue Cash Preferred Card review

Rewards Plan:
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
Welcome Bonus:
$250 $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

When You Might Want the Customized Cash Rewards Card?

You might prefer the Bank of America Customized Cash Rewards card over the Chase Freedom Unlimited card in several situations:

  • You Want Control: If you want more control over your rewards, the Bank of America Customized Cash Rewards card allows you to choose and customize your cashback categories. This flexibility is ideal for individuals who spend heavily in specific areas and want to maximize their rewards in those categories.
  • You Have Another Travel Card: If your spending patterns align with the available cashback categories offered by the Customized Cash Rewards card and you carry another travel card, you may prefer this card.
BoFa card make balance transfer
Leverage BofA 0% Intro APR by balance transfer (Screenshot from Bank Of America app)

Compare The Alternatives

It's always a good idea to be aware of other options before determining the most suitable choice for your needs.

AMEX Blue Cash Preferred Card review

chase_sapphire_preffered

Capital One Quicksilver Cash Rewards Credit Card
Blue Cash Preferred® Card from American Express
Chase Sapphire Preferred® Card
Annual Fee
$0
$95 ($0 intro for the first year)
$95
Rewards
1.5% 1.5% cash back on all purchases
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
2X – 5X 5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and online grocery purchases and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases
Welcome bonus
$250 $200 cash bonus once you spend $500 on purchases within 3 months from account opening
$250 $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
60,000 points 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
Foreign Transaction Fee
$0
2.70%
$0
Purchase APR
19.99% – 29.99% variable
19.24% – 29.99% Variable
21.24%–28.24% variable APR

Compare BofA Customized Cash Rewards

Both cards have no annual fee, but when it comes top redemption value – the Customized Cash Rewards gives you more. Here's our analysis.

Bank of America Travel Rewards vs Customized Cash Rewards Card

The BofA Customized Cash Rewards and the Chase Freedom Flex have many features in common, but there is a clear winner when comparing them.

BofA Customized Cash Rewards vs Chase Freedom Flex

Citi Custom Cash Card and the BofA Customized Cash Rewards have similar reward structures but some significant differences. How they compare?

Citi Custom Cash Card vs. BofA Customized Cash Rewards

Compare Chase Freedom Unlimited

While both cards offer great cash back rewards and considered among the best Chase cards, there are some major differences. Which is better?

Chase Freedom Flex vs Chase Freedom Unlimited: Which Card Is Best?

While both cards offer decent cash back rewards with no annual fee, there is a clear winner between the two. And here's why we think so.

American Express Everyday® Card vs Chase Freedom Unlimited®: Which Card Wins?

While both cards offer great cash back rewards and considered among the best Chase cards, there are some major differences. Which is better?

Chase Freedom Flex vs Chase Freedom Unlimited: Which Card Is Best?

The flat rate cash back on Citi Double Cash Card is higher – but usually, it may not be the best option. Here's The Smart Investor analysis.

Citi Double Cash Card vs Chase Freedom Unlimited: Which Card Wins?

The Chase Sapphire Preferred offers costs more and offer more benefits than the Freedom Unlimited. Is it worth the annual fee?

Chase Freedom Unlimited Vs. Sapphire Preferred: Compare Side By Side

The Freedom Unlimited beckons with its cash-back rewards, but the Amex Gold exudes luxury, boasting robust rewards on dining and groceries.

Chase Freedom Unlimited vs. Amex Gold Card: Which Card Wins?

The Amex Blue Cash Everyday is the winner if you need gas and grocery purchases, while the Freedom Unlimited offers better travel rewards

Amex Blue Cash Everyday vs. Chase Freedom Unlimited: Which Card Wins?

When it comes to cashback potential, the Chase Freedom Unlimited wins, especially for those who frequently engage in travel-related expenses.

Chase Freedom Unlimited vs. Citi Custom Cash Card: Which Card Wins?

The Savor card is ideal for dining out and entertainment, while the Freedom Unlimited is best for travelers and those who need 0% intro APR.

Capital One Savor vs. Chase Freedom Unlimited: Side By Side Comparison

The Active Cash card offers flat-rate cashback, while the Unlimited card is the winner for travel. Here's a side-by-side comparison

Wells Fargo Active Cash vs. Chase Freedom Unlimited: Which Card Wins?

The Apple Card offers competitive cashback rewards on Apple purchases and services – but if you travel frequently, the Unlimited card wins.

Apple Card vs. Chase Freedom Unlimited: How They Compare?

The Costco Card is a great for Costco shoppers, gas and grocery purchases, while the Freedom Unlimited stands out for its travel benefits.

Costco Anywhere Visa Card vs Chase Freedom Unlimited: Comparison

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Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.

Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Credit Card Reviews Methodology

In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.