Bank of America® Customized Cash Rewards Credit Card
vs. Chase Freedom Unlimited®

Both the Bank of America Customized Cash Rewards Credit Card and the Chase Freedom Unlimited offer compelling cash back rewards without an annual fee, paired with introductory APR offers. However, the Chase Freedom Unlimited edges ahead with a slightly higher cash back score, particularly after the first year when its broad rewards structure continues to reward spending across various categories.

While the BofA Customized Cash card offers high cash back in customizable categories, which is a significant draw, the Freedom Unlimited's consistent rewards on all other purchases and potential for higher cash back in the first year make it a more versatile choice for many. Nevertheless, those who can maximize the Bank of America card's customizable categories may still find it to be a highly rewarding option.

You might prefer the BofA Customized Cash if you enjoy tailoring your rewards to your spending habits. With the ability to choose your 3% cash back category and additional rewards for Preferred Rewards members, this card is a strong contender for maximizing returns on everyday purchases within the capped limit.

You might prefer the Freedom Unlimited if you value simplicity and flexibility in earning rewards. With a generous 1.5% cash back on all purchases and higher rates on travel, dining and drugstore purchases, this card offers consistent value without the need to track spending categories.

Evaluating APRs, fees, credit requirements, rewards, introductory offers and additional features will illuminate which card aligns with your financial habits. For instance, if maximizing dining rewards is a priority, Freedom Unlimited may appeal more, whereas the BofA Customized Cash could be advantageous for those who spend heavily in a specific category of their choice.

The Freedom Unlimited card edges out with a higher expected reward value and a more generous effective reward rate. Its broad 1.5% cash back on all purchases makes it a strong contender for those who value simplicity and consistent rewards. However, the BofA Customized Cash card's most compelling bonus category is its 3% cash back on a category of choice, which can surpass the Freedom Unlimited in specific areas like gas or online shopping.

For the BofA Customized Cash card, you can pick your top spending category to earn 3% cash back. Eligible categories include gas — now including electric vehicle charging stations, online shopping — now including cable, streaming, internet, and phone services, dining, travel, drug stores, or home improvements and furnishings. This flexibility can be particularly advantageous if your spending is concentrated in one of these areas.

Below is a table of bonus categories to help you visually compare the rewards programs at a glance.

After accumulating rewards with either card, you'll find different avenues for redemption. With the BofA Customized Cash, you can redeem your cash back for deposits or statement credits, among other options. Importantly, your cash back remains available as long as your account is active. On the other hand, Freedom Unlimited offers a no-minimum cash back redemption, meaning you can redeem any amount at any time. This card also provides diverse redemption choices, including statement credit, direct deposit, and even shopping with points on Amazon. Like its counterpart, Freedom Unlimited ensures your rewards stay intact as long as the account is open.

MoneyGeek conducts thorough reviews and evaluations of credit cards like the BofA Customized Cash and Freedom Unlimited using a tailored scoring system for various use cases. In this comparison, both cards are assessed based on their performance in the cash back category. The largest factors influencing their scores include the effective reward rate, which carries the most weight, and the return on investment for the offer.