Bank of America Customized Cash Rewards Benefits, Credits & Annual Fee

• $200 cash rewards plus 6% total cash back in your choice category for the first year

  $1,000 in purchases for $200; quarterly category cap applies Cash bonus: first 90 days; extra 3% choice-category bonus: first 365 days **Bonus Cash Rewards Offer.** You will qualify for $200 bonus cash rewards if you use your new credit card account to make any combination of purchase transactions totaling at least $1,000 (excluding any fees) that post to your account within 90 days of the account open date. Returns, credits, and adjustments to this card will be deducted from purchases, even if this card was not the original payment method. Cash Advances and Balance Transfers are not considered purchases and do not apply for purposes of this offer. Limit 1 bonus cash rewards offer per new account. This one-time promotion is limited to customers opening a new account in response to this offer and will not apply to requests to convert existing accounts. Your account must be open with active charging privileges in order to receive this offer. Other advertised promotional bonus cash rewards offers can vary from this promotion and may not be substituted. Once you qualify, you will receive your cash rewards within your next 1-2 billing cycles. The value of this reward may constitute taxable income to you. You may be issued an Internal Revenue Service Form 1099 (or other appropriate form) that reflects the value of such reward. Please consult your tax advisor, as neither we, nor our affiliates, provide tax advice. **Customized Cash Rewards Additional Earn Choice Category Bonus Offer.** Earn an additional 3% cash rewards bonus (equal to $0.03 for every $1) on Net Purchases in the Choice Category you have selected that are made with the card each billing cycle and post to your account within 365 days of the account open date. This offer is in addition to the 3% cash rewards you will earn in the Choice Category you have selected for a total of 6% cash rewards. This offer is subject to the $2,500 quarterly limit for Bonus Categories in which eligible Net Purchases made in both the 2% and 3% Bonus Categories earn bonus cash rewards on the first $2,500 of combined Net Purchases posted to the account each calendar quarter. Once the $2,500 quarterly limit is reached, additional Net Purchases will not earn the additional 3% cash rewards earn offer until the first day of the next calendar quarter; instead, they will earn the standard 1% base cash rewards for that period. Cash Advances and Balance Transfers are not considered purchases and do not apply for purposes of this offer. Limit 1 bonus cash rewards offer per new account. This one-time promotion is limited to customers opening a new account in response to this offer and will not apply to requests to convert existing accounts. Your account must be open with active charging privileges in order to receive this offer. This offer will not apply to any customer bonus or account opening bonus, nor will you receive any BofA Rewards™ bonus on the additional cash rewards earned from this offer. The value of this reward may constitute taxable income to you. You may be issued an Internal Revenue Service Form 1099 (or other appropriate form) that reflects the value of such reward. Please consult your tax advisor, as neither we, nor our affiliates, provide tax advice.

  Checked Sep 10, 2026Source

Bonus Earnings

• Preferred Rewards Cash Back Bonus

  Bank of America Preferred Rewards members earn a 25% to 75% bonus on top of the card's standard cash-back rates. Your tier depends on your three-month average balance across qualifying Bank of America and Merrill accounts. Note that this bonus does not apply to any first-year promotional cash-back rates.

  Checked Jul 4, 2026

Fees & Miscellaneous

• Cash Rewards Redemption Options

  Redeem cash rewards in any amount, at any time. Apply them as a statement credit, deposit them into an eligible Bank of America checking or savings account, credit an eligible Merrill account, or use them for eligible purchases at Amazon.com or with PayPal.

  Checked Oct 1, 2026
• Foreign Transaction Fee3% / yr

  A 3% fee applies to each purchase made outside the U.S. or in a foreign currency.

  Checked Sep 26, 2026
• No Annual Fee$0 / yr

  Pay no annual fee to keep this credit card account open. You can use the card and earn cash rewards without a yearly card charge; other fees or interest may still apply depending on how you use your account.

  Checked Oct 1, 2026
• Non-Expiring Rewards

  The cash back you earn on this card has no expiration date. Your rewards stay in your account as long as it remains open, so you can redeem whenever it suits you without worrying about a deadline.

  Checked Jul 4, 2026