Bank of America® Customized Cash Rewards Credit Card
vs. Capital One SavorOne Cash Rewards Credit Card

Updated: June 6, 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.

The Bank of America® Customized Cash Rewards Credit Card and the Capital One SavorOne Cash Rewards Credit Card both offer enticing cash back rewards and share similar introductory APR terms, which might be why you're considering them. The SavorOne Cash edges ahead with its higher overall cash back score, thanks to its unlimited 3% cash back in multiple categories and a $200 welcome offer.

But the BofA Customized Cash is a contender with its customizable cash back categories and the same $200 bonus offer, making it a valuable option if you prefer tailored rewards. Neither card charges an annual fee.

Credit Card logo for Bank of America® Customized Cash Rewards Credit Card
Bank of America® Customized Cash Rewards Credit Card
Credit Card logo for Capital One SavorOne Cash Rewards Credit Card
Capital One SavorOne 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
    19.99% - 29.99% variable
    0% APR Offer
    0% intro for 15 billing cycles
    0% for 15 months on purchases
    Intro Offer
    Earn $200 online cash rewards
    Earn $200 Cash Back
    Rewards Summary
    Earn 1% – 3% cash back
    Earn 1% to 8% cash back
    Balance Transfer Offer
    0% intro for 15 billing cycles for any balance transfers made in the first 60 days
    0% for 15 months on balance transfers
    Balance Transfer Fee
    3% of the amount of each transaction
    5% of each transfer ($5 minimum)
    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)
    Not sure?

Which Card Is Better for You?

You might prefer the BofA Customized Cash if you're a member of Bank of America's Preferred Rewards program, which could significantly increase your cash back earnings. This card allows you to choose your top earning category, making it a good fit if you have specific spending habits.

You might prefer the SavorOne Cash if you spend regularly across a variety of categories including dining, entertainment and travel. With no foreign transaction fees and a straightforward rewards structure, this card is well-suited if you travel internationally and prefer simplicity.

Head-to-Head Comparison: Card Details and Features

To determine which card is for you, evaluate features like APRs, fees, credit requirements and rewards. For instance, if you frequently dine out, the SavorOne Cash's unlimited 3% cash back on dining may appeal to you, while the BofA Customized Cash offers high cash back in categories you can choose and change monthly.

    discount icon

    Regular APR: BofA Customized Cash

    The Bank of America Customized Cash card offers a lower starting APR of 18.24%, making it potentially more favorable if you're looking to minimize interest costs.

    annualFee icon

    Annual Fee: Tie

    The BofA Customized Cash and SavorOne Cash cards offer a $0 annual fee, making them equally appealing if you want to avoid yearly charges.

    lowInterestAPR icon

    Introductory 0% APRs: BofA Customized Cash

    For introductory 0% APR offers, the BofA Customized Cash edges out the SavorOne Cash due to its lower balance transfer fee of 3% compared with the SavorOne's 5%. Both cards offer a 0% intro APR for 15 billing cycles on purchases and balance transfers.

    coins icon

    Rewards: SavorOne Cash

    The SavorOne Cash is better for rewards, offering higher cash back rates in specific categories like 8% on Capital One Entertainment and 5% on travel booked through Capital One, alongside flexible redemption options. Both cards offer rewards that do not expire, but the SavorOne provides more value for specific spending.

    rewards icon

    Welcome Offers: SavorOne Cash

    The SavorOne Cash offers a better welcome bonus, providing a $200 cash bonus after spending $500 in the first three months, compared with the BofA Customized Cash’s $200 bonus for spending $1,000 in the same period.

    creditApproved icon

    Recommended Credit Score: Tie

    Both the BofA Customized Cash and the SavorOne Cash require a credit score range of 670 to 850, making them accessible to people with good to excellent credit.

    autopay icon

    Penalties and Fees: SavorOne Cash

    The SavorOne Cash card is slightly better due to its 0% foreign transaction fee and a more favorable cash advance fee structure. Both cards charge up to $40 for late payments and have a penalty APR of up to 29.99%.

    points icon

    Issuer Satisfaction: BofA Customized Cash

    Bank of America, which issues the BofA Customized Cash, leads with a rating of 4.5, compared with the 4.2 of Capital One, which issues the SavorOne Cash.

    airplane icon

    Other Features & Perks: Tie

    Both cards offer distinct perks. The BofA Customized Cash rewards Preferred Rewards members with extra cash back and features contactless payments. The SavorOne Cash provides a no foreign transaction fee and complimentary Uber One membership until November 14, 2024.

Rewards Comparison

The SavorOne Cash card edges out with a higher expected reward value and a broader range of high-earning categories. It's particularly strong if you spend on dining, entertainment and groceries. The BoFA Customized Cash, while not as broadly rewarding, does offer a compelling 3% cash back in a category that you choose every quarter:

  • Gas (including EVC stations)
  • Online shopping (including cable, streaming, internet and phone services)
  • Dining
  • Travel
  • Drug stores
  • Home improvements and furnishings

This feature could be beneficial if your top spending category aligns with one of the eligible choices. But the 3% and 2% cash back categories have a combined quarterly spending cap of $2,500, which may limit rewards for big spenders.

The table lays out the bonus categories for each card, allowing you to visually compare and contrast the rewards programs at a glance.

Category
BofA Customized Cash
SavorOne Cash

Choice Category

3%

N/A

Grocery Stores/Wholesale Clubs

2% for the first $2,500 annually/1%

3%

Dining

3% (choice category)

3%

Entertainment

1%

3%

Streaming Services

1%

3%

Redeeming Rewards

The BofA Customized Cash allows redemption for cash deposits, statement credits, and more, with the added assurance that cash back doesn't expire as long as the account is open. The SavorOne Cash offers redemption for statement credits, checks and even travel bookings, with no expiration date on rewards. This ensures that regardless of how you choose to redeem, the value you've earned remains accessible.

Methodology

MoneyGeek evaluates credit cards like the BofA Customized Cash and the SavorOne Cash using a tailored scoring system for various use cases. This approach ensures that the score reflects the card's performance in the scenario where it provides the most value.

For cash back cards, the primary factors we consider are the effective reward rate and the return on investment for offers. These elements — along with annual fees, introductory purchase rates and issuer satisfaction — contribute to a card's overall score. For a detailed understanding of our process, you can review our ranking methodology.

FAQ: BofA Customized Cash vs. SavorOne Cash

What are the cash back rewards for each card?
Do either of the cards have an annual fee?
What are the introductory APR offers for these cards?
Are there foreign transaction fees for either card?
Which card is better for travel-related expenses?

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.