Bank of America Credit Card – How to Apply, Benefits, and More

Credit cards have become a fact of life, but that doesn’t mean everyone needs to carry the same card. So if you’re looking for one custom-made to meet your individual needs, Bank of America® has the answer with its Customized Cash Rewards credit card. 

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Applying for a Bank of America credit card is a great way to get started on your journey to financial freedom. Many benefits come with this card, including cash back rewards, no annual fee, a low APR, and a contactless tap.

If you’re looking to switch credit cards or find the best rewards credit card for your lifestyle, look no further than the Bank of America Customized Cash Rewards credit card. So, let’s dive in to understand the card’s benefits, fees, and application process. 

  • Credit Card that Understood the Cashback Assignment
  • Visa Signature and Exclusive to Bank of America Features
  • Fine Prints of Fees and Interest
  • How to Apply for the Card?
  • Address and Contact
Bank of America Credit Card - How to Apply, Benefits, and More
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Credit Card that Understood the Cashback Assignment

We know you want a credit card that meets your specific needs. And the Bank of America® Customized Cash Rewards credit card understood the assignment very well. And best of all, you can use your cash back any way you want – either as a statement credit or as a deposit into one of your bank accounts.

Bank of America Credit Card - How to Apply, Benefits, and More
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For starters, it’s a flat rate card, and you can get unlimited 1.5% cash back on every purchase, which is always an amazing plus. This means you’ll never have to worry about liking the right card and staying within the spending limit. Not to forget that the card also offers an initial bonus of $200 for spending $1,000 within 90 days of opening an account.

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Moreover, the Bank of America® Customized Cash Rewards credit card provides 3% cash back on various purchases. In fact, you have the flexibility to choose your own categories, such as gas, dining, and online shopping, which is great if you have specific spending habits. 

There’s also 2% back at grocery stores and wholesale clubs, 2% back on gas, and 1% back on all other purchases. You can earn up to $2,500 in the combined choice category, grocery store, and wholesale club on quarterly purchases. Additionally, there’s no annual fee, and you’ll get a 0% intro APR on purchases for 15 months. 

Preferred Rewards 

One of the Bank of America credit cards’ best features is its boosted rewards rate for Preferred Rewards members. The self-explanatory ‘Preferred Rewards’ is an invite-only incentive program that provides you with exclusive benefits, such as discounts and rewards on your credit card purchases, travel and entertainment purchases, and more.

As an exclusive member of the Preferred Rewards program, you can get a whopping 25% – 75% more cash back on every purchase. In addition, you can earn up to 5.25% cash back for purchases in your chosen category. 

What are the qualifications for it, you may wonder? You can qualify for the exclusive Preferred Reward feature if you own or co-own an eligible Bank of America checking account and maintain a combined average daily balance of $20,000 or more in the account of the selected banks for three months.

Visa Signature and Exclusive to Bank of America Features

If you love to travel, the Visa Signature benefits will be your new best friend. With access to 24/7 pay-per-use Roadside Dispatch and emergency assistance, you can rest easy knowing that help is just a call away when you swipe this card. 

Bank of America Credit Card - How to Apply, Benefits, and More
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That’s not all! As a Bank of America Premier Rewards Visa Signature cardholder, you’ll receive extended warranty coverage for items purchased with your card and expanded price protection on eligible purchases.

There’s more to this popular Visa Signature credit card- BankAmeriDeals and Museums on Us. BankAmeriDeals is a limited-time offer program that allows you to activate special promotions at participating merchants, earning 5 to 15 percent cash back

The offers are even more attractive as the more coins you collect, the more offers you can unlock.

Museums on Us

Yet another unique benefit of Bank of America® Customized Cash Rewards credit card is ‘Museums on Us’, which is perfect for enthusiastic museum-goers. 

Imagine having access to over two hundred cultural institutions simply by showing your credit card and photo ID proof. 

There’s just one thing to keep in mind is that you can reap this perk to this maximum only on the first weekend of every month.

 Fine Prints of Fees and Interest

The credit card doesn’t charge an annual fee, so you can focus on earning rewards rather than worrying about maintaining your account. It also means that you can keep your account open for as long as you have a balance—or until you decide to apply for a different credit card.

Bank of America Credit Card - How to Apply, Benefits, and More
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 However, keep in mind that there are other fees you should be careful about.

  • Annual Fee – $0;
  • Introductory APR – 0% for 15 billing cycles;
  • Applies to purchases and to any balance transfers made within 60 days of opening your account;
  • Variable APR – 15.49% to 25.49%;
  • Balance Transfer Rate – 3% of each transaction (minimum $10);
  • Cash Advance Fee – Either $10 or 3% of the amount of each transaction, whichever is greater;
    (Direct Deposit and Check Cash);
  • Cash Advance Fee – Either $10 or 5% of the amount of each transaction, whichever is greater;
    (ATM, Over-the-Counter, Same-Day Online, and Cash Equivalent Cash Advances);
  • Balance Transfer Intro APR: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days;
  • Foreign Transaction Fee – 3% of the U.S. dollar amount of each transaction;
  • Late Payment Fee – Up to $40.

Checklist of Eligibility Criteria

Now that you’ve decided that the Bank of America® Customized Cash Rewards credit card might be the perfect fit, how do you apply? To start, it’s essential to understand what factors affect your eligibility.

You should be at least 18 years old of U.S. residence to apply for your own credit card. In addition to this, the bank requests that you provide information about your employment status, the source of income, annual income, and monthly housing payments.

In regards to the credit requirement, you need a score of at least 690. The chance of getting qualified increases if you have a credit score of 750 or higher, which is believed to be the primary shortcoming by many. To check your credit, Bank of America will start with Experian. But if the bank needs to see additional information, it will turn to Equifax and TransUnion.

How to Apply for the Card?

Applying for the Bank of America® Customized Cash Rewards credit card is easy and can be done in just a few minutes. You can easily apply for the card online if you have your Social Security number. Simply go to the Bank of America website and press the Apply Now button. 

Bank of America Credit Card - How to Apply, Benefits, and More
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You will then be taken to a page where you must input your personal information, such as your name, address, contact details, and date of birth. Once you have entered all of your information, click on the Submit Application button.

Suppose you do not have a Social Security number and plan to apply using your Individual Taxpayer Identification Number (ITIN). In that case, you must visit a Bank of America financial center and bring documentation to prove your identity. 

When you apply, please provide complete and accurate information in each required field. Providing false or misleading information on your credit card application is illegal and may result in rejection of your application, cancellation of your account, and/or even prosecution.

What Happens After You Click ‘Submit’ Online?

As soon as you submit an application for one of the Bank of America credit cards, a notification will pop on your screen within sixty seconds. If the application is approved, your screen will read either ‘approved’ or ‘approved but for a different card offer.’ After approval, you will receive the card within ten days

When you don’t receive instantaneous approval, it means one of two things. The application is either declined or the bank needs more time to review the documents you submitted during the process. 

You can always use the online application status checker to see what your status is or call the bank’s hotline at 866.422-8089 to get an answer from one of the customer service representatives.

Address and Contact

The Bank of America’s headquarters is in the Bank of America Corporate Center, 100 North Tryon Street, Charlotte, NC 28255. But you can always visit one of the branches of Bank of America to carry out any transaction or resolve your bank-related queries. 

Bank of America Credit Card - How to Apply, Benefits, and More
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If you like to contact the bank for any credit card-related queries, you can either write to the bank or call them at your convenience. Whether you want to complain about a lost card or check your card activation, you can easily find the contact details to get in touch with the bank. 

There’s also an option to connect with the bank via trending social media platforms such as Facebook and Twitter. To make inquiries, you have to privately message your name, zip code, phone number, and the best time to reach you from your verified account. 

Word of Caution

You will never be asked for your Social Security number, account information, passwords, or PINs by Bank of America Corporation or one of its affiliates on Facebook or Twitter. And it’s best not to give them out over Facebook or Twitter for your security reasons. 

Bank of America Credit Card - How to Apply, Benefits, and More
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Conclusion

The Bank of America Customized Cash Rewards credit card is a solid general-purpose credit card with a good mix of travel and everyday earning potential. A $200 sign-up bonus, a healthy base rewards rate, and incredible travel perks make this an attractive all-around card that should earn its way into your wallet.

Disclaimer: There are risks involved when applying for and using credit products. Ensure you consult the bank’s terms and conditions before agreeing to anything. 

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