Credit Cards

Bank of America Customized Cash Rewards Secured credit card full review

The Bank of America Customized Cash Rewards Secured credit card can be very useful for those who need a secured card with rewards. So, check out our full review!

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by Victória Lourenço

10/08/2021 | Updated on 10/25/2021

Bank of America Customized Cash Rewards Secured credit card

Learn more about the Bank of America Secured card in our full review! Source: Bank of America
Learn more about the Bank of America Secured card in our full review! Source: Bank of America

The Bank of America Customized Cash Rewards Secured credit card is for those who do not have a very high credit score and need to build or rebuild their credit. Moreover, this credit card can offer great rewards considering it is a secured card. It is a zero-dollar annual fee card as well. So, if you got interested in this card’s features, keep reading our full review!

Credit ScorePoor or limited.
Annual FeeNo annual fee.
Regular APRFrom 13.99% – 23.99%.
Welcome bonusN/A.
Rewards*Get 3% cash back in one category of your choice: home upgrades, online purchases, dining, gas, and drug stores.

Earn 2% cash back for purchases at grocery stores and wholesale clubs.

Earn 1% cash back on every other purchase.

*Terms apply

How to apply for Bank of America Customized card?

The Bank of America Customized Cash Rewards Secured card has no annual fee and can help you build credit. Read more to know how to apply!

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How does Bank of America Customized Secured credit card work?

This Bank of America card can offer great rewards. Source: Gettyimages
This Bank of America card can offer great rewards. Source: Gettyimages

Once you become a cardholder of this card, you can enjoy its benefits and rewards. You can choose one category to earn 3% cash back, and this applies to purchases related to gas, online shopping, travel, drug stores, dining, and home upgrades. Also, you can get 2% cash back at wholesale clubs and grocery stores. And get 1% cash back on other purchases.

However, the cash back rewards of 2% and 3% have a spending cap per quarter of $2,500. So, once you reach this limit, the cash back earned will be 1% like for any other purchase. Even though there is this spending cap, you can benefit from other features, such as access to your free credit score and zero liability coverage for unauthorized charges on your credit card.

Bank of America Customized Cash Rewards Secured card benefits

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Pros

  • Get zero liability coverage on unauthorized charges made on your card.
  • 3% cash back in a category of your choice.
  • 2% cash back for purchases made at groceries and wholesale clubs.
  • Also, there is 1% cash back for any other purchase you make.
  • This credit card sends your monthly reports to all three major credit bureaus.
  • There is no annual fee.

Cons

  • There is a foreign transaction fee of 3% charged by this card.
  • To get this card, you will need to make a deposit that ranges from $300 to $4,900, depending on your application context.

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Should you get a Bank of America Customized Cash Rewards Secured card?

This Bank of America secured card can be very useful for those who want to build credit and like to deal with cashback rewards. Moreover, you can access your credit score and get your monthly payments sent to all three major credit bureaus. So, if you fit this profile, and you need a credit card that can accept not-so-good scores, this can be a great card for you.

How good does your credit score need to be?

You don't need a very high score to get this card. Source: Gettyimages
You don’t need a very high score to get this card. Source: Gettyimages

To get this credit card, you do not need a very high credit score. So, you can have a score ranging from poor to limited. However, this will affect some of the fees charged by this credit card.

How to apply for a Bank of America Customized Rewards Secured credit card?

To complete your application process to get this credit card, you can go to Bank of America’s website and do it all online. So, if you want to know more about how this process works, check out our post below with more information about how to apply!

How to apply for Bank of America Customized card?

The Bank of America Customized Cash Rewards Secured card has no annual fee and can help you build credit. Read more to know how to apply!

About the author

Victória Lourenço

Victória Lourenço is part of the finance writer team for The Mister Finance website. She is a translator and copywriter, having worked on finance topics for over four years. She has a goal to keep studying finances to help people learn more about how to use their credit cards, make loans, and use other money-related products in a way that they can find a more meaningful and healthy financial life!

Reviewed by

Aline Barbosa

Senior Editor

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