Updated: August 8, 2024
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The Bank of America® Customized Cash Rewards Credit Card and the U.S. Bank Cash+® Visa Signature® Card provide excellent cash back rewards, no annual fee and strong introductory APR offers.
The BofA Customized Cash may be more suitable for consistent spenders, offering 3% cash back in a chosen category and 2% at grocery stores and wholesale clubs. The U.S. Bank Cash+ is better for maximizing rewards, with 5% cash back in two categories and 2% on groceries, gas or dining.
You might prefer the BofA Customized Cash if you value simplicity and a lower APR. With a variable APR starting at 19.24%, it’s great for everyday spending and managing larger purchases. Preferred Rewards® members can earn up to 75% more cash back.
You might prefer the U.S. Bank Cash+ if you prioritize maximizing cash back. Earn 5% cash back in two categories of your choice and on prepaid travel booked through the Rewards Center. However, the higher cash back comes with a higher APR, so it’s better for those who pay off their balance monthly.
Evaluating APRs, fees, credit requirements, rewards and introductory offers will help you choose the right card. BofA Customized Cash's preferred member bonuses could be a deciding factor. The U.S. Bank Cash+ provides higher cash back in specific categories, which is better if you spend heavily in those areas.
Regular APR: BofA Customized Cash
The BofA Customized Cash has a slightly lower regular APR range of 19.24%–29.24% compared to the U.S. Bank Cash+’s 19.74%–29.74%.
Annual Fee: Tie
The BofA Customized Cash and the U.S. Bank Cash+ have no annual fee, helping cardholders avoid extra costs.
Introductory 0% APRs: Tie
The BofA Customized Cash and the U.S. Bank Cash+ offer a 0% introductory APR on purchases and balance transfers for 15 billing cycles. Both cards have a 3% balance transfer fee, with the U.S. Bank Cash+ requiring a minimum of $5.
Rewards: U.S. Bank Cash+
The U.S. Bank Cash+ has a slight edge with 5% cash back on two chosen categories (up to $2,000 per quarter), compared to the BofA Customized Cash's 3% in a selected category (up to $2,500 per quarter). However, U.S. Bank Cash+ rewards expire after 36 months, while BofA Customized Cash rewards don't.
Welcome Offers: Tie
The BofA Customized Cash and the U.S. Bank Cash+ offer a $200 bonus for spending $1,000. The BofA card requires this within 90 days, while the U.S. Bank Cash+ gives you 120 days.
Recommended Credit Score: Tie
Both cards require a good to excellent credit score of 670–850.
Penalties and Fees: BofA Customized Cash
The BofA Customized Cash has a lower late fee and cash advance fee than the U.S. Bank Cash+. Both cards have a 3% foreign transaction fee.
Issuer Satisfaction: BofA Customized Cash
Customers report higher satisfaction with Bank of America, BofA Customized Cash's issuer, rating it 4.5 compared to U.S. Bank’s 3.5.
Other Features and Perks: Tie
The BofA Customized Cash boosts rewards by up to 75% with Preferred Rewards membership. The U.S. Bank Cash+ offers specialized rewards for direct bookings, especially beneficial for frequent travelers.
The U.S. Bank Cash+ leads with 5% cash back on two categories of your choice, up to a $2,000 quarterly purchase limit, which is great for targeted spending.
The BofA Customized Cash provides 3% cash back in a selected category and 2% at grocery stores and wholesale clubs, with a $2,500 quarterly cap in combined purchases. Its standout category is online shopping, which can be more rewarding for some users, especially with the Preferred Rewards program that boosts cash back for eligible members.
Both cards let you pick your bonus categories. The BofA Customized Cash allows choices like gas, online shopping, dining, travel, drug stores or home improvements. The U.S. Bank Cash+ lets you select from a list of categories each quarter, offering flexibility to suit your spending habits.
Check the table below for a quick comparison of each card's bonus categories.
Category | BofA Customized Cash | U.S. Bank Cash+ |
|---|---|---|
Customizable Category | 3% on a category of choice | 5% on two categories of choice |
Online Shopping | 3% if chosen/1% if not | 5% if chosen/1% if not |
Travel | 3% if chosen/1% if not | 5% if chosen/1% if not |
Drug Stores | 3% if chosen/1% if not | 5% if chosen/1% if not |
Home Improvements | 3% if chosen/1% if not | 5% if chosen/1% if not |
Dining | 3% if chosen/1% if not | 2% if chosen/1% if not |
Gas and EV Charging | 3% if chosen/1% if not | 2% if chosen/1% if not |
Grocery Stores | 2% | 2% if chosen/1% if not |
Wholesale Clubs | 2% | 1% |
All Other Purchases | 1% | 1% |
The BofA Customized Cash lets you redeem cash back as a statement credit or a deposit into a Bank of America account. Your cash back never expires as long as your account is open.
The U.S. Bank Cash+ requires a minimum of $25 in cash back to redeem. You can redeem it as a statement credit or a deposit into a U.S. Bank account. Cash back expires after 36 months, so you need to redeem it often to avoid losing rewards.
MoneyGeek evaluates credit cards like the BofA Customized Cash and the U.S. Bank Cash+ based on their performance in various use cases. This ensures that our recommendations are tailored to your needs.
Our analysis focuses on cash back rewards. We assess the effective reward rate and return on investment while considering annual fees, introductory offers and issuer satisfaction. For more details on our evaluation process, check out our ranking methodology.
Both cards maximize cash back rewards in your selected categories. The BofA Customized Cash offers 3% cash back in one category, while the U.S. Bank Cash+ provides 5% cash back in two categories.
Both cards offer no annual fee.
Both cards have 0% introductory APR offers on purchases and balance transfers for 15 billing cycles.
Both cards offer a $200 bonus. The BofA Customized Cash requires $1,000 in purchases within the first 90 days, while the U.S. Bank Cash+ requires $1,000 within the first 120 days.
These credit cards require a good to excellent credit score (670–850).
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.
