Key takeaways
- The Financial institution of America® Custom-made Money Rewards bank card provides a good money again charge, in addition to the power to pick out and alter your top-earning bonus class every month.
- Members of the Financial institution of America Most well-liked Rewards program can earn more money again on prime of the cardboard’s normal rewards.
- Nonetheless, quarterly spending caps and a decrease welcome bonus imply this card will not be the only option for all shoppers.
Incomes money again out of your rewards bank card is at all times factor. Having the ability to customise your money again bonus classes from month to month is even higher. The Financial institution of America® Custom-made Money Rewards bank card makes it potential to just do that and with no annual payment besides.
Whereas having the prospect to decide on your prime rewards class is a plus, there are different causes to contemplate including this card to your pockets. Actually, the advantages supplied by the Financial institution of America Custom-made Money Rewards bank card is usually a main draw, notably when you’re a Financial institution of America Most well-liked Rewards member.
Learn on to be taught concerning the Financial institution of America Custom-made Money Rewards journey advantages and shopper protections, plus different perks you get only for being a cardholder.
Financial institution of America Custom-made Money Rewards card journey advantages
Whereas the Financial institution of America Custom-made Money Rewards bank card is just not a high-end journey bank card, it does include a variety of Visa Signature advantages that may be helpful for frequent vacationers. When you’ll need to learn over your card’s phrases and situations to seek out out which degree of advantages your card comes with, the primary Visa Signature journey advantages that include this card embrace the next:
Visa Signature concierge
Visa Signature concierge service makes it potential for cardholders to get assist with eating reservations, tickets for reveals and occasions and normal journey planning. Cardholders name a hotline to obtain all types of customized help free of charge, and this assist is offered 24 hours a day, 7 days every week.
Roadside dispatch
Roadside dispatch is offered by way of a hotline cardholders can name. This hotline connects drivers with varied forms of help, together with a gasoline fill-up, flat tire substitute, towing providers and extra. Whereas the roadside dispatch hotline is free, cardholders are required to pay an ordinary worth for any providers obtained.
Journey and emergency help
Cardholders additionally get entry to a journey and emergency help hotline they’ll flip to for varied sorts of assist. For instance, they’ll name in for medical referrals or authorized referrals when operating into points away from house or for emergency transportation help. Once more, whereas using this hotline is free, cardholders are liable for paying for any providers they obtain.
Financial institution of America Custom-made Money Rewards card shopper advantages
Whereas the rewards supplied by the Financial institution of America Custom-made Money Rewards bank card are beneficiant, there are extra perks shoppers can profit from.
0% intro APR interval
Candidates who’re permitted for the Financial institution of America Custom-made Money Rewards bank card routinely qualify for an introductory annual share charge (APR) that applies to purchases and steadiness transfers. Particularly, shoppers get a 0 % intro APR for 15 billing cycles on each purchases and steadiness transfers, though steadiness transfers have to be made within the first 60 days to qualify. Cardholders additionally get an introductory 3 % steadiness switch payment, which rises to 4 % after the primary 60 days. After the introductory provide ends, the variable APR will likely be between 19.24 % to 29.24 %.
FICO rating free of charge
This card additionally provides FICO credit score rating entry free of charge, which is up to date month-to-month and out there on-line or inside the Financial institution of America cellular app. Having a free credit score rating will help cardholders observe their credit score progress over time.
Financial institution of America notes that opt-in is required to obtain this perk.
Prolonged guarantee safety
As one other Visa Signature profit, your card could include prolonged guarantee safety. This perk provides as much as one extra 12 months of guarantee safety on objects that include a producer’s guarantee of three years or much less. Word that it’s important to pay for the merchandise along with your Financial institution of America bank card for this protection to use.
$0 legal responsibility safety
Financial institution of America will block fraudsters and notify you of any fraudulent exercise due to its $0 Legal responsibility Assure. You can too customise fraud alerts inside your on-line account or cellular app.
Museums On Us
For over twenty years, Financial institution of America bank cards and debit playing cards have given cardholders free normal admission to 225+ cultural establishments in the course of the first weekend of each month. All it’s important to do is current your Financial institution of America card and a legitimate photograph ID to achieve free entrance.
BankAmeriDeals
BankAmeriDeals is a card-linked, limited-time provide program much like Amex Presents and Chase Presents. If you activate sure promotional provides inside your account, you may commonly earn about 5 % to fifteen % additional money again at choose eating places and different taking part retailers. You received’t make numerous money again with BankAmeriDeals, however it can assist enhance what you earn.
Advantages for Financial institution of America Most well-liked Rewards members
Whereas the rewards charge on this card is stable by itself, it’s value noting that you would be able to enhance your earnings charge by as a lot as 75 % relying in your standing as a member of the Financial institution of America Most well-liked Rewards program. To qualify as a member, it’s essential to personal or co-own an lively and eligible Financial institution of America, Merrill or Merrill Edge account and maintain a minimal 3-month mixed common day by day steadiness of $20,000 or extra throughout eligible Financial institution of America account sorts.
Right here’s how a lot you can enhance your money again charge primarily based on the Most well-liked Rewards tier you fall into:
- Most well-liked Rewards Gold: 25 %
- Most well-liked Rewards Platinum: 50 %
- Most well-liked Rewards Platinum Honors: 75 %
- Most well-liked Rewards Diamond: 75 %
- Most well-liked Rewards Diamond Honors: 75 %
As a Most well-liked Rewards member, you’ll achieve entry to different advantages — together with reductions on funding providers, mortgage origination charges, HELOC and automotive mortgage rates of interest, in addition to no cost for choose banking providers.
Maximizing the Financial institution of America Custom-made Money Rewards card
To get probably the most out of the Financial institution of America Custom-made Money Rewards bank card, you’ll need to take the next steps:
- Change your prime incomes class periodically primarily based in your spending plans. The Financial institution of America Custom-made Money Rewards bank card allows you to change your prime incomes class as soon as every calendar month, and it is smart to take action in case your regular spending patterns fluctuate all year long. In case you have a journey or on-line buying buy arising, for instance, you may change your 3 % again class that month and enhance your rewards haul that manner.
- Be sure you earn the welcome provide. Be sure you spend no less than $1,000 on purchases inside 90 days of account opening with a purpose to earn $200 in bonus money again. This can require spending no less than $334 over three 30-day intervals in a row, which you’ll probably attain by charging your common bills and payments to the cardboard.
- Keep away from paying curiosity. Whereas the Financial institution of America Custom-made Money Rewards card provides an intro APR for purchases and eligible steadiness transfers, do not forget that this promotion received’t final endlessly. Be sure you repay the steadiness earlier than the intro APR interval ends, or else you’ll wind up paying off debt at this card’s increased variable APR.
The underside line
The Financial institution of America Custom-made Money Rewards card doesn’t provide the best charges of money again on the market, as there are some rotating class playing cards that provide as a lot as 5 % again on choose bonus classes. Nonetheless, getting 3 % again in your class of selection (as much as $2,500 in mixed 3 and a couple of % class purchases every quarter, then 1 %) is significantly better than the 1.5 to 2 % again supplied by different flat-rate money again playing cards available on the market — as long as you’re not sometimes spending over $2,500 in 1 / 4.
With no annual payment, a good welcome bonus and a beneficiant introductory APR provide along with its respectable money again charge, this Financial institution of America bank card deserves critical consideration for a spot in your pockets — particularly when you’re already a Financial institution of America loyalist.
For those who’re nonetheless unsure whether or not the Financial institution of America Custom-made Money Rewards bank card is value it, contemplate evaluating it to different money again rewards bank cards. Doing all of your analysis and evaluating it to different playing cards is the one technique to know for positive.
The Financial institution of America® Custom-made Money Rewards bank card data was final up to date on July 8, 2024.
