Bank of America® Customized Cash Rewards Credit Card
vs. Bank of America® Unlimited Cash Rewards Credit Card

Updated: June 4, 2024

Advertising & Editorial Disclosure

Shield Insurance

MoneyGeek partners with leading industry experts and advertisers to help you get to your financial happy place. Our content is accurate when posted but offers may change over time. We may receive compensation for partner advertisements, but our editorial team independently reviews and ranks products. Learn more about our editorial policies.

Both the Bank of America Customized Cash Rewards Credit Card and the Bank of America Unlimited Cash Rewards Credit Card offer appealing cash back rewards without an annual fee, coupled with introductory APR offers. However, if you're drawn to customizing your rewards, the BofA Customized Cash edges out with its higher cash back in categories you can select. On the flip side, the BofA Unlimited Cash flat-rate cash back on all purchases offers simplicity and consistency. While both cards are strong contenders, the BoFa Customized Cash card's tailored rewards may provide greater value for those who can maximize the category choices. The BofA Unlimited Cash still remains a solid choice for its straightforward rewards approach.

Credit Card logo for Bank of America® Customized Cash Rewards Credit Card
Bank of America® Customized Cash Rewards Credit Card
Credit Card logo for Bank of America® Unlimited Cash Rewards Credit Card
Bank of America® Unlimited Cash Rewards Credit Card
MoneyGeek Rating
4.0/ of 5
MoneyGeek Rating
4.0/ of 5

  • Regular APR
    18.24%–28.24% variable APR on purchases and balance transfers
    18.24%–28.24% variable
    0% APR Offer
    0% intro for 15 billing cycles
    0% for 15 billing cycles on purchases
    Intro Offer
    $200 online cash rewards
    Earn $200 cash back
    Rewards Summary
    3% cash back on a category of your choice, 2% on groceries and wholesale clubs, 1% on everything else.
    1.5%
    Balance Transfer Offer
    0% intro for 15 billing cycles for any balance transfers made in the first 60 days
    0% for 15 billing cycles on balance transfers
    Balance Transfer Fee
    3% of the amount of each transaction
    3% for the first 60 days, then 4%
    Annual Fee
    $0
    $0
    Recommended Credit
    670–850 (Good to Excellent)
    670–850 (Good to Excellent)
    Penalty APR
    Up to 29.99% variable APR
    Up to 29.99% variable APR
    Not sure?

Which Card Is Better for You?

You might prefer the BofA Customized Cash if you're strategic about your spending and can maximize the 3% cash back in categories you frequently use. With the added bonus for Preferred Rewards program members, this card is a strong contender for those who spend heavily in the chosen categories.

You might prefer the BofA Unlimited Cash if you value simplicity and consistency in your rewards. The 1.5% cash back on all purchases means you won't have to keep track of categories or spending caps. This card is a good fit for those who want a straightforward cash back experience.

Head-to-Head Comparison: Card Details and Features

Evaluating APRs, fees, credit requirements, rewards and other features will help you find a card that suits you Use this section to pinpoint the differences, such as the BofA Customized Cash's higher cash back in select categories versus the BofA Unlimited Cash's flat-rate reward on all purchases.

    discount icon

    Regular APR: Tie

    Both the Bank of America Customized Cash and BofA Unlimited Cash cards offer a starting lower APR range of 18.24%.

    annualFee icon

    Annual Fee: Tie

    Both cards have no annual fee, making them equally attractive for users looking to save on costs.

    lowInterestAPR icon

    Introductory 0% APRs: Tie

    Both the BofA Customized Cash and BofA Unlimited Cash offer a 0% introductory APR for 15 billing cycles on both purchases and balance transfers. However, the Unlimited Cash card increases the balance transfer fee to 4% after the first 60 days, compared to a consistent 3% fee with the Customized Cash card.

    coins icon

    Rewards: Bank of America Customized Cash

    The BofA Customized Cash offers higher potential rewards for those who spend heavily in specific categories, with 3% cash back on a category of choice and 2% back at grocery stores and wholesale clubs (up to $2,500 quarterly in combined purchases), compared to the BofA Unlimited Cash card's flat 1.5% cash back on all purchases. This makes the Customized Cash card more advantageous for maximizing rewards in chosen spending areas.

    rewards icon

    Welcome Offers: Tie

    Both cards offer a $200 bonus for spending $1,000 in the first 90 days, making them equally appealing for their welcome offers.

    creditApproved icon

    Recommended Credit Score: Tie

    Both cards require a credit score of 670 to 850, indicating they are equally accessible to individuals with good to excellent credit.

    autopay icon

    Penalties and Fees: Tie

    Both cards impose up to $40 in late fees and up to 29.99% variable APR for penalties. Cash advance fees are set at 3% of each transaction, and foreign transaction fees are 3%.

    points icon

    Issuer Satisfaction: Tie

    Since both the Customized Cash Rewards Credit Card and the Unlimited Cash Rewards Credit Card are issued by Bank of America, they share the same issuer satisfaction rating of 4.5.

    airplane icon

    Other Features & Perks: Tie

    Both the BofA Customized Cash and BofA Unlimited Cash cards offer no annual fee, rewards that do not expire and contactless payments for convenience. Preferred Rewards members benefit from extra cash back on purchases with both cards. Additionally, the BofA Unlimited Cash card has an exclusive online offer, highlighting its appeal for digital-savvy users.

Rewards Comparison

The BofA Customized Cash edges out the BofA Unlimited Cash when it comes to maximizing rewards in specific categories. With the ability to choose a 3% cash back category, it caters to strategic spenders. The BofA Unlimited Cash, while not as high in specific categories, offers a consistent 1.5% back on all purchases, making it a solid choice for those who prefer simplicity over maximizing category bonuses.

For the Customized Cash card, you can select one category to earn 3% cash back each quarter, from options like gas (including EVC stations), online shopping (including cable, streaming, internet, and phone services), dining, travel, drug stores, or home improvements and furnishings. This flexibility can be particularly beneficial if your spending is concentrated in one of these areas.

Below, you'll find a table of bonus categories to help you compare the rewards programs at a glance.

Category
BofA Customized Cash
BofA Unlimited Cash

Choice Category

3% on a category of choice (gas, online shopping, dining, travel, drug stores, or home improvements and furnishings)

1.5% on all purchases

Grocery Stores

2% at grocery stores

1.5% on all purchases

Wholesale Clubs

2% at wholesale clubs

1.5% on all purchases

All Other

1% on all other purchases

1.5% on all purchases

Redeeming Rewards

Transitioning from how rewards are earned to how they can be enjoyed, both the BofA Customized Cash and BofA Unlimited Cash cards offer flexible redemption options. With either card, you can redeem your cash back directly into a Bank of America or eligible Merrill account, or as a statement credit to offset your bill. Importantly, the cash back you earn does not expire as long as your account remains open, giving you the freedom to use your rewards at your convenience.

Methodology

MoneyGeek evaluates credit cards like the BofA Customized Cash and BofA Unlimited Cash using a tailored scoring system for various use cases. In this comparison, both cards are assessed based on their cash back potential.

The most significant factors in this scoring include the effective reward rate and the return on investment for offers. For a deeper understanding of our comprehensive ranking process, you can explore our ranking methodology.

FAQ: BofA Customized Cash vs. BofA Unlimited Cash Card

What are the cash back rewards for each card?
Do either of the cards have an annual fee?
What are the introductory offers for these cards?
How do the APRs compare after the introductory period?
Can I benefit from balance transfers with these cards?

About Doug Milnes, CFA


Doug Milnes, CFA headshot

Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.

Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.


*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.