The Customized Cash Rewards Card empowers you to tailor your cashback rewards to match your lifestyle. On the other hand, the Unlimited Cash Rewards Card offers simplicity and convenience. Both cards have their own unique benefits, so it's important to choose the one that's right for you.
General Comparison: BofA Customized vs Unlimited Cash Rewards
The main difference between these cards lies in their rewards structure. The Customized Cash Rewards card offers more flexibility with higher cashback on categories you choose, while the Unlimited Cash Rewards card provides a simple flat-rate cashback on every purchase.
If you typically spend in 1-2 categories and know how to maximize your rewards, the Customized Cash Rewards might be a better fit. However, if your spending is spread across various categories, the Unlimited Cash Rewards card could be a more suitable option.
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Point Rewards Battle: A Side-by-Side Analysis
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| |
|---|---|---|
Spend Per Category | Customized Cash Rewards | Unlimited Cash Rewards |
$15,000 – U.S Supermarkets | $200 ** | $225 |
$5,000 – Restaurants
| $150 * | $75 |
$5,000 – Airline | $50 | $75 |
$5,000 – Hotels | $50 | $75 |
$4,000 – Gas | $40 | $60 |
Estimated Annual Value | $490 | $510 |
* 3% On Restaurants ** 2% On Supermarkets up to $5,000
Which Benefits You'll Get On Both Cards?
The cards are similar when it comes to extra benefits:
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.
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.
0% Intro APR: Both cards offer a 0% introductory APR, with the Unlimited card providing a slightly longer introductory period. Using and applying for this benefit is quper quick and easy via BofA mobile app:
When You Might Prefer The Customized Cash Rewards?
You might prefer the Bank of America Customized Cash Rewards Card over the Bank of America Unlimited Cash Rewards Card if:
- You Have Specific Spending Habits: If you tend to spend significantly in specific categories like gas, online shopping, dining, or travel, the Customized Cash Rewards Card allows you to earn 3% cashback in a category of your choice, potentially providing higher rewards in those areas.
- You Want to Maximize Category Rewards: The Customized Card allows you to select your 3% cashback category, making it ideal for individuals who want to tailor their rewards to match their lifestyle and spending patterns.
- You Don't Mind Some Complexity: While the Customized Card offers more customization, it might involve a bit more effort in managing categories. If you enjoy selecting and optimizing your rewards, this card can be a good fit.
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When You Might Prefer The Unlimited Cash Rewards?
You might prefer the Bank of America Unlimited Cash Rewards Card over the Customized Cash Rewards Card if:
- Varied Spending Habits: If your spending is spread across different categories and you want a reliable cashback rate on all purchases, the Unlimited Card offers a straightforward and balanced approach to earning rewards.
- Consistent Cashback: The Unlimited Card provides a steady 1.5% cashback on all purchases, making it a great option for those who prefer consistent rewards across the board without needing to customize categories.
Compare The Alternatives
It's always a good idea to be aware of other options before determining the most suitable choice for your needs.
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| |
|---|---|---|---|
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% – 5%
5% percent cash back on hotels and rental cars booked through Capital One Travel and 1.5% cash back on all purchases everyday.
|
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 Travel, 3x points on dining, online grocery purchases and select streaming services. 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases.
|
Welcome bonus |
$200
$200 cash bonus once you spend $500 on purchases within 3 months from account opening
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$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 | 19.74% – 29.74% (Variable)
| 18.49% – 29.49% Variable
| 20.99% – 27.99% variable APR
|
Compare BofA Unlimited Cash Rewards Card
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