BofA Customized Cash Rewards Credit Card: $200 Welcome Bonus + 6% Cash Back in Your Chosen Category for the First Year

This card now has a new offer: the 3% cash back category becomes 6% for the first year, meaning your selected 3% category earns 6% in year one. It returns to 3% after the first year, and the welcome bonus remains $200.

• Application link

Note: according to the information shown on the application page, this extra 3% cannot be boosted by the BofA Preferred Rewards bonus.

Bank of America Customized Cash Rewards Credit Card Review:

Highlights

• Preferred Rewards bonus: If you are a BofA Preferred Rewards member, the regular 3%, 2%, and 1% cash back earnings can all receive an additional bonus. Even the welcome bonus can receive the Preferred Rewards percentage boost!
  • Regular BofA Checking/Saving customers can earn an extra 10% cash back bonus
  • BofA Gold (Checking + investment account >$20,000) can earn an extra 25% cash back bonus
  • BofA Platinum (Checking + investment account >$50,000) can earn an extra 50% cash back bonus
  • BofA Platinum Honors (Checking + investment account >$100,000) can earn an extra 75% cash back bonus
  • For detailed requirements, see the official link
• Broad 2% grocery category with a high cap: The combined quarterly cap for 3% gas and 2% grocery purchases was raised to $2,500, and it also includes wholesale clubs (Costco, Sam's, BJ's), which is great for larger families with substantial monthly shopping. It gets even better with the Preferred Rewards bonus, and Costco can effectively earn 3% cash back.
• 0% APR: For purchases made within the first 15 months, you only need to pay the minimum each month and no interest will be charged. Please read carefully: “How to Pay a Credit Card During a 0% APR Period”. There is also 0% interest on balance transfers made within 60 days, but with a 3% fee. See: Introduction to Balance Transfers
• Product change from a secured card: This card can be obtained via product change from a BofA Secured Card (you can apply without an SSN), which is pretty nice.
• Refer a Friend perk: Some cardholders have recently received emails allowing them to refer friends for this card. The applicant can receive the standard $150 welcome bonus, and the referrer can receive a $50 reward. Even if you did not receive the email, you can still try referring a friend through the link below, though it is unclear whether you will actually receive the $50 reward in the end: Cash Rewards Refer a Friend link. For more details, see: Introduction to the Refer a Friend program

BofA card benefits

• Free museums: On the first weekend of every month, simply bring your BofA credit card or debit card plus your ID to get free admission to more than 200 museums nationwide. Authorized users are eligible too. You can check the list of participating museums at the link below if you want to plan a visit: 2019 BofA Free Museums List
• BofA Deal: Offers 5%-15% cash back or fixed-amount statement credits at various merchants. Some good deals that have appeared before: Sears 15% back (up to $25), Nordstrom Rack 15% back (up to $37.5), plus a $5 bonus for using any one BofA Deal. For details, see “Guide to Using BofA Deals”
• Free credit score: BofA credit cards now provide a free TransUnion credit score. See: Comparison of Free Credit Scores

Cons

• The welcome bonus is just average; unless you have Preferred Rewards status, it is not that different from a 2% cash back card

My take:

All existing cardholders can now choose their own 3% cash back category, and the new application page already shows the 3% category selection details. BofA also gives example merchants for each category. Here are the details and my thoughts on each category:

• Online shopping: This includes websites where Amazon, Apple, Best Buy, and Walmart sell products, and eBay likely counts as well. What does not count includes bills such as hospitals, government payments, taxes, insurance, tuition, and utilities. BofA likely determines eligibility based on merchant category code. A few things worth testing: does PayPal count? If it does, many purchases could potentially be routed through PayPal; similarly for services like Visa Checkout. Does Plastiq count? If it does, then 3% exceeds the fee, so you could use it to pay loans and even come out ahead.

• Travel: Airfare, hotels, rental cars, rideshares, Airbnb, cruises, tolls, and similar purchases all count as travel. It is a very broad category. It may be a good pick during summer or winter vacation if you travel more then. Of course, there are many other cards that can cover travel too, so choose based on your overall wallet.

• Drug stores: If your main goal is to buy Visa gift cards, drugstores are one of the easiest options. CVS and Walgreens are both convenient. Five Visa gift cards and you are done. Drugstores also usually have a wide range of third-party gift cards.

• Home improvement: This includes not only furniture/home improvement stores like Lowe's, IKEA, and Home Depot, but also various repair and cleaning expenses. Again, it likely depends on the merchant code.

• Gas: Not much to explain here. Purchases made at pay-at-the-pump terminals at wholesale clubs also count.

• Dining: Dining is straightforward as well. There are many alternative cards for this category, so you do not necessarily need to pick this one.

This card has expanded its 3% cash back categories. EV charging, internet/cable/streaming, and phone plans are now included. Specifically:

• The gas category now includes EV charging. Gas & EV Charging Stations
• The online shopping category now includes cable/streaming/internet/phone plans. Online Shopping, Cable, Streaming, Internet & Phone Plans

Recently I have seen quite a few people use this card to fund a checking account and still receive the 3% online shopping cash back, so it may be worth trying.

• Summary: Which 3% category to choose depends on what other cards you have. If you have a lot of cards, online shopping is probably the best choice, since currently only the AT&T card has a similar feature. Also, if you have BofA Preferred Rewards through a checking relationship, your cash back can get up to a 70% bonus, which means 3% becomes 5.25%—very strong. Even a regular checking relationship gets 10%. Whether a purchase earns 3% depends on the merchant category code, so I recommend doing a small test purchase first before using it for larger spending.

Of course, for groceries you can also use the AMEX Everyday Prefferred credit card to earn 4.5x MR points, and for gas I have used a clever spending category swap together with AMEX Offer to stock up on discounted gas gift cards at roughly 20% off.

One nice thing about BofA is that its Chinese-language customer service is quite helpful, and the phone number is shown below. Still, I recommend calling the English customer service line to practice your spoken English.

In-branch application

According to reader reports, this card now also offers a $200 welcome bonus when applying in a BofA branch. One reader recently brought two F1 students without SSNs to apply, and both were approved. Details below:

• First they opened a BofA checking account and deposited $10,000-$20,000 for living expenses
• After waiting one month, they went to a BofA branch to ask whether they could apply for a credit card. They needed to bring a passport, I20, and similar documents, and no SSN was required
• The banker said the in-branch application also came with a $200 welcome bonus, and recommended either Customized Cash or the 1.5% cash back Unlimited Cash. That one can probably also be applied for without an SSN. I still think this customizable 3% card is the better choice
• At the time of application, applicants under age 24 would be directed to the student version of this card, which also has the same $200 bonus and is said to be nearly guaranteed approval. Those age 24 and above can only apply for the regular version, and approval may depend on the balance in the checking account.
• The banker counted living expenses provided by family as annual income on the application. One person listed $60,000 and received a $1,000 credit limit; another listed $100,000 and received a $1,500 credit limit

In short, getting started is always the hardest part, so being able to open an account and get a bonus is already pretty good. Your credit history can be built slowly over time, and it can still be linked even without an SSN. If you do not have much in deposits and want to apply online, this could still be worth considering, and it also does not require an SSN.

Application:

• This card is relatively easy to get approved for; even a small amount of credit history can be enough
• This card also has a bonus when applying at a BofA branch (since 2021). If the banker does not mention the bonus when you apply, you can call and ask for it (see image above)
• If you have a BofA checking or saving account, that can help significantly with approval, and you may also receive targeted offers with a higher bonus

• BOA application status check link, or call: (800) 732-9194
• 2/3/4 rule: at most 2 cards approved within 2 months, 3 within 12 months, and 4 within 24 months. However, BofA’s system is not very reliable, and sometimes a card may be approved at first but later shut down.
• The welcome bonus on the same card can only be received once every 24 months, and you need to make sure the card is closed before applying again>
• You need to be a Resident to apply for a BOA credit card online: when applying for a BofA credit card online, if you select Non resident alien, you will not be able to continue and must apply by phone. However, BofA’s definition of Resident alien is different from the IRS definition of Resident alien for tax purpose. No matter what immigration status you used to enter the US, if you have lived in the US for 183 days within the past two years, then select Resident Alien. If you just arrived in the US and cannot meet this requirement, follow the prompt on the online application page and call 1.800.932.2775 to apply.
• You can call the reconsideration line (888-593-6092) to speed up credit card approval or request a review of a denied application.
• More about applying for BofA credit cards

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