Updated: October 22, 2024
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The Bank of America® Customized Cash Rewards Credit Card and the BankAmericard® Credit Card offer introductory 0% APRs and no annual fee. The BofA Customized Cash is better for earning cash back, with a $200 bonus and up to 3% in a chosen category.
The BankAmericard is more suitable for those seeking a longer break from interest charges. It offers 0% intro APR for 18 billing cycles on purchases and balance transfers.
You might prefer the BofA Customized Cash if you want to earn cash back in your selected category and a sign-up bonus. It's ideal for regular spenders who pay off balances monthly.
You might prefer the BankAmericard if you need to consolidate debt with a balance transfer. Its longer 0% APR period on purchases and balance transfers helps manage your finances effectively.
Evaluating APRs, fees, credit requirements, rewards and other features will help you find the right card. The BofA Customized Cash is an excellent choice for earning cash back. If you need a longer 0% intro APR for balance transfers, the BankAmericard might be better.
Regular APR: BankAmericard
The BankAmericard offers a lower regular APR range of 16.24%–26.24% than BofA Customized Cash's 18.24%–28.24%.
Annual Fee: Tie
The BofA Customized Cash and the BankAmericard offer no annual fee, helping cardholders avoid extra costs.
Introductory 0% APRs: BankAmericard
The BankAmericard offers a longer 0% intro APR, with 18 billing cycles for purchases and balance transfers, compared to BofA Customized Cash's 15 billing cycles. Both cards have a 3% balance transfer fee.
Rewards: BofA Customized Cash
The BofA Customized Cash offers 3% cash back on a category of choice, 2% at grocery stores and wholesale clubs and 1% on all other purchases. The BankAmericard doesn't offer rewards.
Welcome Offers: BofA Customized Cash
The BofA Customized Cash gives new cardholders $200 online cash rewards after they spend $1,000 in the first 90 days. The BankAmericard has no welcome offer.
Recommended Credit Score: Tie
The BofA Customized Cash and the BankAmericard require a good to excellent credit score of 670–850.
Penalties and Fees: BankAmericard
The BankAmericard doesn't impose a penalty APR compared to the BofA Customized Cash, which has up to 29.99% APR. Both cards charge up to $40 for late fees and a 3% foreign transaction fee.
Issuer Satisfaction: Tie
Since both cards come from Bank of America, they have the same issuer satisfaction rating of 4.5.
Other Features and Perks: Tie
The BofA Customized Cash lets Preferred Rewards® members earn 25% to 75% more cash back on every purchase. The BankAmericard provides free FICO® Score access.
MoneyGeek evaluates credit cards like the BofA Customized Cash and the BankAmericard based on performance in various use cases. This approach helps ensure the score reflects where the card offers the most value.
We consider factors like balance transfer offers, regular APR, issuer satisfaction and penalties. To better understand our scoring process, you can review our ranking methodology.
The BofA Customized Cash offers 3% cash back in a chosen category, 2% at grocery stores and wholesale clubs and 1% on all other purchases, making it one of the best cash back cards. The BankAmericard has no rewards program.
The BankAmericard offers a longer 0% introductory APR for 18 billing cycles than BofA Customized Cash's 15.
Both are cards with no annual fee.
The BofA Customized Cash offers a $200 online cash rewards bonus to new cardholders.
Both cards charge a 3% balance transfer fee.
About Doug Milnes, CFA
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.
