Key takeaways
- Choosing between the BankAmericard® credit card* and the Bank of America® Customized Cash Rewards credit card likely comes down to whether you need a lengthy intro APR period more than you need cash back rewards.
- The Customized Cash Rewards card allows cardholders to choose which spending category earns you the most cash back, whereas the BankAmericard doesn’t earn rewards at all.
- Unlike the Customized Cash Rewards, however, the BankAmericard comes with an introductory APR offer on purchases and balance transfers.
Determining the best credit card for your financial goals isn’t always easy. For example, maybe your goal is to earn more rewards on your spending, or perhaps you need help with paying down high-interest debt or financing a large purchase over time. Comparing the features, benefits and perks of different cards can help you choose a credit card that best suits your individual needs.
Choosing between the BankAmericard® credit card and Bank of America® Customized Cash Rewards credit card comes down to exactly that scenario — whether you’d rather have a lengthy intro APR or a slightly shorter intro APR and the chance to earn ongoing rewards. However, there are a few other details that may sway your decision in an unexpected direction.
Let’s take a look at what these cards offer and which option might be better suited to your financial goals.
Main details
| Cards | BankAmericard® credit card | Bank of America® Customized Cash Rewards credit card |
|---|---|---|
| Welcome bonus | N/A |
|
| Rewards rate | N/A |
|
| Intro APR |
|
|
| Annual fee | $0 | $0 |
| Foreign transaction fees | 3% fee on foreign transactions | 3% fee on foreign transactions |
BankAmericard vs. Bank of America Customized Cash Rewards highlights
Although the BankAmericard and Bank of America Customized Cash Rewards share some features — like no annual fee and a 3 percent foreign transaction fee — and come from the same issuer, the similarities pretty much end there. Here’s a look at how these Bank of America credit cards compare:
Welcome bonus winner
-
The Customized Cash Rewards card offers $200 in online cash rewards after spending $1,000 in purchases within the first 90 days of account opening. Most cardholders should be able to reach this spending threshold pretty easily. The BankAmericard, on the other hand, doesn’t currently offer a welcome bonus (though it has in the past).
Rewards rate winner
-
Since the BankAmericard doesn’t offer ongoing rewards, the Customized Cash Rewards wins in this category. The card offers 3 percent cash back in a category of your choice, which helps make it one of the top cash back cards on the market. Eligible categories include:
- Gas and EV charging stations
- Online shopping (including cable, streaming, internet, and phone services)
- Dining
- Travel
- Drugstores
- Home improvement
The card also offers 2 percent cash back at grocery stores and wholesale clubs. However, there’s a combined $2,500 spending limit on 2 percent and 3 percent categories each quarter (after which you’ll earn 1 percent back). You’ll also earn 1 percent back on all other purchases.
Using this card for your everyday spending means you can earn anywhere from $50 to $75 back on your 2 and 3 percent categories per quarter, on top of unlimited earnings for everything else at 1 percent back. Also, since you can change your 3 percent choice category each month, it’s more flexible than rewards cards with predetermined rotating bonus categories that you must activate every quarter.
Plus, if you’re a member of the Bank of America Preferred Rewards program, you can earn 25 percent to 75 percent more cash back (or up to 5.25 percent cash back) in all cash back categories. This program is based on the balances you maintain in eligible Bank of America or Merrill investing accounts, and the minimum balance for each tier is as follows:
Tier Minimum three-month average balance Rewards bonus Gold $20,000 25% Platinum $50,000 50% Platinum Honors $100,000 75% Diamond $1 million 75% Diamond Honors $10 million 75% For example, if you’re a Gold tier Preferred Rewards member, you’ll earn 3.75 percent cash back on your choice category purchases (up to the cap). If you spend the maximum $2,500 each quarter in your choice category, you’ll earn over $93 cash back in that quarter alone.
Introductory APR winner
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If you’re looking to finance a purchase or transfer a balance at a 0 percent interest rate, both cards can help. However, the BankAmericard will give you more time to enjoy interest-free purchases and transfers with its longer introductory offer.
With the BankAmericard, you’ll enjoy an introductory 0 percent APR on both purchases and balance transfers for 18 billing cycles — making it one of the best 0 percent APR cards available. Balance transfers must be made within the first 60 days of opening your account to qualify and are subject to a 3 percent balance transfer fee (4 percent fee on balance transfers after the first 60 days). After the introductory period ends, any remaining balance is subject to an ongoing 15.24% – 25.24% Variable APR on purchases and balance transfers.
On the other hand, the Bank of America Customized Cash Rewards card offers a 0 percent intro APR on purchases and balance transfers for the first 15 billing cycles. Again, balance transfers are required to be made within 60 days of account opening and are subject to the same 3 percent balance transfer fee (4 percent after the first 60 days.) This card has an ongoing 18.24% – 28.24% Variable APR on purchases and balance transfers.
Although this is still a good offer, it’s a few months shorter than that of the BankAmericard.
Annual fee winner
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Neither card charges an annual fee, so you don’t have to worry about justifying the cost of card membership.
Foreign transaction fee winner
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Unfortunately, both the BankAmericard and Bank of America Customized Cash Rewards charge a 3 percent foreign transaction fee, so they aren’t suitable for use outside of the United States or for making purchases online in foreign currency (unless you don’t mind paying that fee).
Which card earns the most?
Typically, our card battles show spending examples that highlight how much you’ll earn with one card versus another (based on their rewards structures), but in this case, only one card earns rewards. That’s why we’ll focus on how these cards compare in a balance transfer situation first, then get into what you could earn by using the Customized Cash Rewards card.
Customized Cash Rewards vs. BankAmericard balance transfer example
Here’s how these two cards would compare using a $5,000 balance transfer as an example.
| BankAmericard® credit card | Bank of America® Customized Cash Rewards credit card | |
|---|---|---|
| Balance transfer amount | $5,000 | $5,000 |
| 3% balance transfer fee | $150 | $150 |
| Total balance | $5,150 | $5,150 |
| Length of intro 0% APR period | 18 billing cycles | 15 billing cycles |
| Average payment required to pay off during 0% APR period | $286.12 per month | $343.34 per month |
| Ongoing APR | 15.24% – 25.24% Variable APR on purchases and balance transfers | 18.24% – 28.24% Variable APR on purchases and balance transfers |
If you transferred a $5,000 balance to either card within the first 60 days from account opening, you’d be subject to a 3 percent balance transfer fee — bringing your total balance to $5,150.
With the BankAmericard, you’d get 18 billing cycles to pay off your debt interest-free. That’s a monthly payment of just over $286 to pay your balance in full. If you don’t pay off the debt in those 18 billing cycles, your remaining balance will be subject to a 15.24% – 25.24% Variable APR on purchases and balance transfers.
With the Customized Cash Rewards card, you’d get 15 billing cycles to pay off your debt, meaning your monthly payment would need to be just over $343 to pay your debt off during the interest-free window. After 15 billing cycles, an 18.24% – 28.24% Variable APR on purchases and balance transfers will kick in.
So, the BankAmericard allows you to make lower monthly payments and has a potentially lower variable APR than the Customized Cash Rewards card, which could also be helpful if you have a little debt left over at the end of your intro APR period.
Bank of America Customized Cash Rewards spending example
The Bank of America Customized Cash Rewards calculator shows you how much cash back you can earn in each category. For this example, let’s assume:
- $10,000 in yearly spending in the 3 percent choice category
- $8,000 in yearly spending in the 2 percent category
- $6,000 in yearly spending in the 1 percent category
Remember, there is a $2,500 combined spending cap on the 3 and 2 percent categories each quarter. So, if we assume that your 3 percent category spending breaks down to $2,500 each quarter, you’d earn $440 in cash back using this example. For Preferred Rewards members, your cash back rewards could be boosted to $550 if you’re a Gold member, $660 if you’re a Platinum member and $770 if you’re a Platinum Honors member or higher.
Why should you get the BankAmericard?
The BankAmericard is worth it if you absolutely need a full 18 billing cycles to pay off your debt, and the 15 billing cycles offered by the Customized Cash card just won’t cut it. However, in many circumstances, if you can forgo the extra three months of interest-free payments, the Customized Cash Rewards card provides much better value long-term.
Why should you get the Bank of America Customized Cash Rewards?
The Bank of America Customized Cash Rewards card is ideal for those looking to earn flexible rewards while still enjoying a solid intro APR offer. If you’re looking for ongoing value, the Customized Cash Rewards card can deliver value for years to come — even when you remove the savings from the intro APR offers and welcome bonus. Your rewards haul can potentially get an even bigger boost if you’re a Preferred Rewards member.
The bottom line
By now, it’s probably clear that these cards are suited for different purposes. The BankAmericard is better for someone who needs the longest intro APR period possible — whether for a large purchase or balance transfer. The Bank of America Customized Cash Rewards card, however, is better for those looking to get more value long-term — especially those who’ll get a better rewards rate as part of the Preferred Rewards program.
*The information about the BankAmericard® credit card has been collected independently by Bankrate. The card details have not been reviewed or approved by the card issuer.
The Bank of America content in this post was last updated on June 29, 2025.
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