Bank of America® Customized Cash Rewards Credit Card
vs. Wells Fargo Active Cash® Card

Updated: June 4, 2024

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Both the Bank of America Customized Cash and the Wells Fargo Active Cash Card offer compelling cash back rewards without an annual fee, paired with introductory APR offers. However, the Wells Fargo Active Cash edges ahead with its straightforward unlimited 2% cash rewards on all purchases. While BofA Customized Cash offers higher cash back in customizable categories, the simplicity and consistency of the Wells Fargo card's rewards make it a strong contender for many. Still, for those who can maximize the Bank of America card's higher reward rates in chosen categories, it remains a valuable option.

Credit Card logo for Bank of America® Customized Cash Rewards Credit Card
Bank of America® Customized Cash Rewards Credit Card
Credit Card logo for Wells Fargo Active Cash® Card
Wells Fargo Active Cash® 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
    20.24%, 25.24%, or 29.99% variable
    0% APR Offer
    0% intro for 15 billing cycles
    0% for 15 months 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.
    Earn unlimited 2% cash rewards on purchases
    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
    3% of the amount of each balance transfer
    Annual Fee
    $0
    $0
    Recommended Credit
    670–850 (Good to Excellent)
    670-850 (Good to Excellent)
    Penalty APR
    Up to 29.99% variable APR
    None
    Not sure?

Which Card Is Better for You?

You might prefer the BofA Customized Cash if you want to maximize rewards in specific categories that align with your spending habits. With the ability to earn higher cash back in categories of your choice and additional bonuses for preferred rewards members, this card can yield significant returns for those who manage their spending categories actively.

You might prefer the Wells Fargo Active Cash if you want rewards without the need to track spending categories. The 2% cash rewards on all purchases, coupled with a lower spending requirement for the welcome bonus and additional benefits like cell phone protection, make this card a straightforward choice for everyday use.

Head-to-Head Comparison: Card Details and Features

Evaluating APRs, fees, credit requirements, rewards, introductory offers and other features will illuminate which card will suit you. For instance, if you prefer simplicity, Wells Fargo Active Cash's flat-rate rewards might appeal to you, whereas the BofA Customized Cash could be more beneficial if you maximize its bonus categories.

    discount icon

    Regular APR: Bank of America Customized Cash

    BofA Customized Cash offers a lower starting APR at 18.24%, compared to the Wells Fargo Active Cash card's starting APR of 20.24%. This makes BofA Customized Cash more favorable for those looking to minimize interest costs on purchases and balance transfers.

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    Annual Fee: Tie

    Both BofA Customized Cash and Wells Fargo Active Cash cards have a $0 annual fee, making them equally attractive.

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    Introductory 0% APRs: Tie

    Both BofA Customized Cash and Wells Fargo Active Cash cards offer a 0% introductory APR on purchases and balance transfers for 15 months, with a 3% balance transfer fee.

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    Rewards: Bank of America Customized Cash

    For maximizing rewards in specific categories, BofA Customized Cash is superior, offering 3% cash back on a category of choice and 2% at grocery stores and wholesale clubs, with a $2,500 combined spend limit on 2% and 3% categories each quarter. Wells Fargo Active Cash provides straightforward, unlimited 2% cash rewards on all purchases.

    rewards icon

    Welcome Offers: Wells Fargo Active Cash

    The Wells Fargo Active Cash Card is better for welcome offers, offering a $200 cash rewards bonus after spending $500 in the first 3 months, compared to BofA Customized Cash's $200 online cash rewards for spending $1,000 in the first 90 days.

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    Recommended Credit Score: Tie

    Both the Bank of America Customized Cash and Wells Fargo Active Cash cards require a credit score range of 670 to 850. This makes them equally accessible to individuals within this credit score range.

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    Penalties and Fees: Wells Fargo Active Cash

    When it comes to penalties and fees, Wells Fargo Active Cash is the better choice. Both cards charge up to $40 for late fees and have a 3% foreign transaction fee. However, Wells Fargo Active Cash does not impose a penalty APR, unlike BofA Customized Cash, which can go up to 29.99% variable APR. Additionally, Wells Fargo's cash advance fee structure may result in higher fees depending on the transaction amount.

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    Issuer Satisfaction: Bank of America Customized Cash Rewards Credit Card

    Bank of America has an issuer satisfaction rating of 4.5, compared to the Wells Fargo rating of 4.0.

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    Other Features & Perks: Wells Fargo Active Cash

    For unique features and perks, the Wells Fargo Active Cash card stands out with its Visa signature concierge service and up to $600 in cell phone protection, offering significant value beyond standard card benefits.

Rewards Comparison

The Wells Fargo Active Cash offers unlimited 2% cash rewards on all purchases. This flat rate means you don't have to keep track of categories or spending caps. On the other hand, BofA Customized Cash allows for strategic earning with 3% cash back in a category of your choice, which could surpass the Wells Fargo card's rewards if you spend heavily in that category. The downside is the $2,500 combined spend limit on 2% and 3% categories each quarter.

For those who prefer tailored rewards, BofA Customized Cash offers the flexibility to choose from several categories for the 3% cash back option. These categories include gas — now including electric vehicle charging (EVC) stations, online shopping — now including cable, streaming, internet, and phone services, dining, travel, drug stores or home improvements and furnishings. The 2% cash back on grocery store and wholesale club purchases adds another layer of benefit, albeit with the aforementioned quarterly cap.

Following this section, you'll find a table that outlines the bonus categories for each card, allowing you to compare the rewards programs at a glance.

Category
BofA Customized Cash
Wells Fargo Active Cash

Choice Category

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

2%

Grocery Stores

2% for the first $2,500 combined spend limit on 2% and 3% categories each quarter/1% thereafter

2%

Wholesale Clubs

2% for the first $2,500 combined spend limit on 2% and 3% categories each quarter/1% thereafter

2%

All Other Purchases

1%

2%

Redeeming Rewards

With the BofA Customized Cash, you can redeem your cash back directly into a Bank of America account or as a statement credit, among other choices, without worrying about expiration as long as your account is active. Similarly, the Wells Fargo Active Cash allows for redemption through various means, including direct deposit and statement credits, with the added convenience of no expiration while the account remains open.

Methodology

MoneyGeek evaluates credit cards like BofA Customized Cash and Wells Fargo Active Cash based on their performance in various use cases. For this comparison, we focus on the cash back category, where each card's highest scores are highlighted.

The most influential factors in our cash back score include the effective reward rate, which accounts for the bulk of the score, and the return on investment for offers. Other considerations include annual fees, issuer satisfaction and recommended credit. For a deeper understanding of our process, you're welcome to read about our ranking methodology.

FAQ: BofA Customized Cash vs. Wells Fargo Active Cash

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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.
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