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BofA Customized Cash Rewards: terms, score and downsides Not credit advice. Facts and math from issuer pages and the CFPB, each with its date. Offers change; approval depends on your credit. Verify on the issuer's site.
Rubric score 62.6% across 78 cards. Issuer page ↗
Downsides first 3% foreign transaction fee APR up to 27.74% if you carry a balance Penalty APR up to 29.99% Late fee up to $40 3% choice + 2% grocery share a $2,500/quarter cap ($10k/yr); we apply 3% to your biggest eligible category. Terms & fees Issuer Bank of America Type cash back Annual fee $0 bankofamerica.com, 2026-10-11 Regular purchase APR 17.74%–27.74% variable bankofamerica.com, 2026-10-11 Rewards 3% category of choice (6% first year); 2% grocery & wholesale clubs (quarterly max); 1% other bankofamerica.com, 2026-10-11 Sign-up bonus (≈$) $200 $200 after $1,000 in 90 days bankofamerica.com, 2026-10-11 Intro APR 15 months 0% intro APR 15 billing cycles on purchases and BTs made in first 60 days bankofamerica.com, 2026-10-11 Foreign transaction fee 3% bankofamerica.com, 2026-10-11 Penalty APR up to 29.99% up to; per BofA agreement consumerfinance.gov, 2026-06-30 Late fee up to $40 up to (first and repeat late fee) files.consumerfinance.gov, 2025-12-31 Balance transfer fee 4% files.consumerfinance.gov, 2025-12-31 Cash advance fee 5% files.consumerfinance.gov, 2025-12-31 Credit needed 620–719, 720+ (CFPB TCCP targeted tiers) files.consumerfinance.gov, 2025-12-31 Grace period 25 days files.consumerfinance.gov, 2025-12-31 Cash advance APR 29.24% files.consumerfinance.gov, 2025-12-31 CFPB survey APR (2025-12-31) 17.49%–28.24% files.consumerfinance.gov, 2025-12-31 older; issuer figure above is newer Complaint record (CFPB) Complaints, last 12 months 23,829 Trend ▲ 35.9% (last 12 mo 23,829 vs prior 12 mo 17,533)Timely response (last 36 mo) 99.2% Per $1B deposits (12 mo) 11.23 Top issue Managing an account Insurance status FDIC-insured: Bank of America, National Association (cert 3510, active; deposits $2,121.8B as of 06/30/2026) Company-level (BANK OF AMERICA, NATIONAL ASSOCIATION), all products, as of 2026-10-12. Bank of America (incl. Merrill) complaints: full record → Shown for context; does not change the score.
Score breakdown Annual fee 10.0 /10 Annual fee $0 (as of 2026-10-11). Rubric: $0=10, ≤$95=8, ≤$395=5, ≤$695=3, more=1 (perks/credits are not counted). Rewards rate 5.0 /10 Base 1% on everything, top category 3% (as of 2026-10-11; points/miles valued at 1¢). Score = base/2%×7 + min(top,6)/6%×3. 3% category of choice (6% first year); 2% grocery & wholesale clubs (quarterly max); 1% other Sign-up bonus 2.7 /10 Bonus ≈ $200: $200 after $1,000 in 90 days (as of 2026-10-11). Score = value/$75, max 10. Intro 0% APR 7.1 /10 0% intro APR 15 billing cycles on purchases and BTs made in first 60 days (as of 2026-10-11). Score = months/21×10. Regular APR 8.0 /10 17.74%–27.74% variable (as of 2026-10-11); midpoint 22.74%. Score = (34 − midpoint)/1.4, 0–10. Foreign transaction fee 3.0 /10 3% foreign transaction fee (as of 2026-10-11). Regulatory record (CFPB) 8.0 /10 Issuer Bank of America: Base 10, −2 CFPB 2023-07 0.143×10.0 + 0.143×5.0 + 0.143×2.7 + 0.143×7.1 + 0.143×8.0 + 0.143×3.0 + 0.143×8.0 = 6.26 → 62.6%
Is BofA Customized Cash Rewards worth it? (break-even math) → Value for my spending →
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FAQ What is the BofA Customized Cash Rewards annual fee? $0
What is the BofA Customized Cash Rewards APR? 17.74%–27.74% variable
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