Pick your 3% category each month — and Bank of America Preferred Rewards members can boost every rate by up to 75%.
Links may earn us a commission at no extra cost to you.
Drag your spend. We earn 3% on your chosen category and 2% on groceries (to the combined cap), 1% elsewhere — no fee.
You bank with Bank of America (or Merrill) and qualify for Preferred Rewards — the boost turns 3% into up to 5.25%.
You don’t bank with BoA, dislike quarterly caps, or want one simple flat rate across all spend.
The Bank of America Customized Cash is issued by Bank of America, carries an annual fee of $0, currently offers a welcome bonus of $200, and charges a foreign transaction fee. It scores 7.6/10 on the Cards Made Simple methodology. Pick your 3% category each month — and Bank of America Preferred Rewards members can boost every rate by up to 75%.
Drag your spend. We earn 3% on your chosen category and 2% on groceries (to the combined cap), 1% elsewhere — no fee. At a benchmark spend of $500/month on choice 3% category, $400/month on groceries, $1100/month on everything else, the card returns about $408 a year in rewards value. There is no annual fee to recover, so every dollar of rewards is profit. The 3% and 2% rates share a $2,500/quarter combined cap. Preferred Rewards members can boost rates 25–75% (not shown). Drag the sliders in the calculator above to run the numbers on your own spending.
3% on choice category (Pick gas, dining, travel, online & more). 2% on grocery & wholesale (Combined 3%/2% cap $2,500/qtr). 1% on everything else (Unlimited). +75% on preferred rewards (Boost for BoA banking relationships).
The current welcome offer is $200. Welcome bonuses change frequently and are the single most time-sensitive number on this page, so treat it as a snapshot: there is no annual fee to recover, so the bonus is pure upside. What the bonus should never do is talk you into a card whose ongoing earn structure doesn't fit your spending — run the calculator above on year-two numbers, with no bonus, before you apply.
Start with what the card does well. Choose your own 3% category each month. Up to 75% rewards boost for Preferred Rewards members. No annual fee. Intro APR on purchases and balance transfers. Those strengths are why the Bank of America Customized Cash scores 7.6/10 on rewards value in our breakdown — the earn structure holds up when you run it against real monthly budgets rather than best-case scenarios.
Now the other side of the ledger, because every card has one. Combined 3%/2% cap of $2,500 per quarter. Only average without a Preferred Rewards relationship. Foreign transaction fee. 1% base rate is unremarkable. None of these are dealbreakers on their own, but they are exactly the kind of fine print that decides whether this card beats the no-fee 2% benchmark for your specific spending pattern — which is why the fine-print factor scores 7.8/10 here.
Five factors go into every CMS score. Rewards value measures what the card actually returns at realistic spend, not headline multipliers. Fees and APR weighs the annual fee against the credits and earn that offset it. Perks and protection covers insurance, credits, and lounge or statement benefits. Approval reality reflects the credit profile the issuer actually approves. Fine print catches caps, exclusions, enrollment requirements, and category definitions that quietly change the math.
Rewards value scores 7.6/10, fees and APR 9.5/10, perks and protection 6.4/10, approval reality 8.0/10, and fine print 7.8/10 — an overall CMS score of 7.6/10. Scores follow the published Cards Made Simple scoring methodology, which weights real reward math over headline rates and reads the fine print so you don't have to.
Get it if: You bank with Bank of America (or Merrill) and qualify for Preferred Rewards — the boost turns 3% into up to 5.25%.
Skip it if: You don’t bank with BoA, dislike quarterly caps, or want one simple flat rate across all spend.
| Card | CMS score | Annual fee | Welcome | Category |
|---|---|---|---|---|
| Bank of America Customized Cash | 7.6/10 | $0 | $200 | No annual fee |
| Citi Double Cash | 8.1/10 | $0 | $200 | No annual fee |
| Chase Freedom Unlimited | 8.3/10 | $0 | $200 | No annual fee |
| Capital One Quicksilver | 7.7/10 | $0 | $200 | No annual fee |
Against the Citi Double Cash (8.1/10, none annual fee): 2% on everything (1% when you buy, 1% when you pay) with no annual fee — the math floor every other card has to beat. Read the Citi Double Cash review →
Against the Chase Freedom Unlimited (8.3/10, none annual fee): 1.5% on everything, no annual fee — and it quietly becomes a points powerhouse when paired with a Sapphire card. Read the Chase Freedom Unlimited review →
Against the Capital One Quicksilver (7.7/10, none annual fee): A flat 1.5% on everything with no annual fee and no foreign transaction fee — the cleanest baseline cash-back card. Read the Capital One Quicksilver review →
In the same no annual fee tier we also score: Chase Freedom Unlimited (8.3/10, $0 fee), Citi Double Cash (8.1/10, $0 fee), Capital One Quicksilver (7.7/10, $0 fee), Wells Fargo Active Cash (7.9/10, $0 fee). If this card's who-it's-for profile above doesn't describe you, one of those usually will — the category pages rank them head to head.
Great if you bank with BoA — average if you don’t. The flexible 3% category is genuinely useful, and Preferred Rewards members get an exceptional boosted rate. Outside that ecosystem, it’s a middling no-fee card. Your banking relationship makes or breaks it.
Links may earn us a commission at no extra cost to you. Card details as of July 2026 — verify current terms with Bank of America before applying. This content is for informational purposes only and is not financial advice. Credit card terms, rates, and offers change frequently. Verify all details with the card issuer before applying.
The flexible 3% category is genuinely useful, and Preferred Rewards members get an exceptional boosted rate. Outside that ecosystem, it’s a middling no-fee card. Your banking relationship makes or breaks it.
Links may earn us a commission at no extra cost to you.
Two Card Tuesday runs the real numbers on one card matchup a week. Free, unsubscribe anytime.