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Saturday, February 24, 2024

Bank of America® Customized Cash Rewards credit card for Students Review

Ashley Fricker

By: Ashley Fricker

Ashley Fricker
Ashley Fricker

Ashley Fricker has more than a decade of experience as a finance contributor and editor, and has specialized in the credit card industry since 2015. Her credit card commentary is featured on national media outlets that include CNBC, MarketWatch, Investopedia, and Reader's Digest, among many others. She has worked closely with the world’s largest banks and financial institutions, up-and-coming fintech companies, and press and news outlets to curate comprehensive content and media. Ashley holds a bachelor's degree in multimedia journalism from Florida Atlantic University.

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Editor: Lillian Guevara-Castro

Lillian Guevara-Castro
Lillian Guevara-Castro

Lillian Guevara-Castro brings more than 30 years of editing and journalism experience to the CardRates team. She has written and edited for major news organizations, including The Atlanta Journal-Constitution and the New York Times, and she previously served as an adjunct journalism instructor at the University of Florida. Today, Lillian edits all CardRates content for clarity, accuracy, and reader engagement.

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Reviewer: Ashley Fricker

Ashley Fricker
Ashley Fricker

Ashley Fricker has more than a decade of experience as a finance contributor and editor, and has specialized in the credit card industry since 2015. Her credit card commentary is featured on national media outlets that include CNBC, MarketWatch, Investopedia, and Reader's Digest, among many others. She has worked closely with the world’s largest banks and financial institutions, up-and-coming fintech companies, and press and news outlets to curate comprehensive content and media. Ashley holds a bachelor's degree in multimedia journalism from Florida Atlantic University.

See full bio »
Bank of America® Customized Cash Rewards credit card for Students Review

Rated 4.7 /5.0 ★★★★★

Are you considering the Bank of America® Customized Cash Rewards credit card for Students? Before you apply for the card, you'll want to learn some key facts about the offer and how it compares to others on the market.

In reviewing the card, our staff rated it a 4.7 out of 5.0.

This card lets students choose their top-earning cash back category each quarter, in addition to 0% APR promotions and a signup bonus, features not available on all student cards. But good credit is required, limiting who can qualify.

Here's a rundown of the key features, rates, and terms of the Bank of America® Customized Cash Rewards credit card for Students:

Disclosure: When you apply through links on our site, we often earn referral fees from partners. For more information, see our ad disclosure and review policy.

Advertiser Disclosure

CardRates.com is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free, we receive compensation for referrals for many of the offers listed on the site. Along with key review factors, this compensation may impact how and where products appear across CardRates.com (including, for example, the order in which they appear). CardRates.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.

Bank of America® Customized Cash Rewards credit card for Students Review

at Bank Of America'ssecure website

BEST OVERALL RATING

★★★★★

4.7

OVERALL RATING

  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
  • Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
  • Choose 3% cash back on gas and EV charging station, online shopping/cable/internet/phone plan/streaming, dining, travel, drug store/pharmacy or home improvement/furnishing purchases.
  • No annual fee and cash rewards don’t expire as long as your account remains open.
  • 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.24% - 28.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
  • When handled responsibly, a credit card can help you build your credit history, which could be helpful when looking for an apartment, a car loan, and even a job. Access your FICO® Score for free within Online Banking or your Mobile Banking app.
  • Contactless Cards - The security of a chip card, with the convenience of a tap.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR for 15 billing cycles for purchases
0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
18.24% - 28.24% Variable APR on purchases and balance transfers
$0
Excellent/Good

Additional Disclosure: Bank of America is a CardRates advertiser.

There's certainly a lot to like about the Bank of America® Customized Cash Rewards credit card for Students. Let's dive deeper into the card's rates and fees, as they could make or break whether owning the Bank of America® Customized Cash Rewards credit card for Students is right for you.

Interest Rate & Annual Fee

According to the issuer, the Bank of America® Customized Cash Rewards credit card for Students currently charges the following interest rates on purchases and balance transfers:

  • Purchase Intro: 0% Intro APR for 15 billing cycles for purchases
  • Balance Transfer Intro: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
  • Regular APR: 18.24% - 28.24% Variable APR on purchases and balance transfers

Here's the annual fee for the Bank of America® Customized Cash Rewards credit card for Students as listed by the issuer:

  • Annual Fee: $0
See site for details »

Credit Needed for Approval

According to the issuer, the current general credit history requirement for the Bank of America® Customized Cash Rewards credit card for Students is:

  • Credit Level: Excellent/Good

If you feel you have the credit needed for approval and you're ready to apply, you can do so online on the issuer's secure website.

Keep in mind that rates and features may change, so if you like what the Bank of America® Customized Cash Rewards credit card for Students is offering today, you may want to apply now to lock it in current terms before it's too late.

How Does It Rank?

Below are all the ratings our team gives the Bank of America® Customized Cash Rewards credit card for Students, along with the card's ranking within each category. To see how it compares to other cards, simply click on the category name:

(Ranked #10 out of 19)
★★★★★
4.6
(Ranked #11 out of 27)
★★★★★
4.7
(Ranked #34 out of 155)
★★★★★
4.7
(Ranked #13 out of 55)
★★★★★
4.7
(Ranked #7 out of 27)
★★★★★
4.7
(Ranked #4 out of 8)
★★★★★
4.7

Bottom Line on Bank of America® Customized Cash Rewards credit card for Students

Bank of America® Customized Cash Rewards credit card for Students Review

All told, our team's review of the Bank of America® Customized Cash Rewards credit card for Students resulted in a rating of 4.7 out of 5.0, as the card features many pros and cons for a potential cardholder to consider. Ultimately, it's up to you to determine if the card's benefits outweigh its possible drawbacks.

If you're ready to apply for the Bank of America® Customized Cash Rewards credit card for Students, here is the link the issuer's official application:

About the Author

Ashley Fricker
Ashley Fricker Finance Expert

Ashley Fricker has more than a decade of experience as a finance contributor and editor, and has specialized in the credit card industry since 2015. Her credit card commentary is featured on national media outlets that include CNBC, MarketWatch, Investopedia, and Reader's Digest, among many others. She has worked closely with the world’s largest banks and financial institutions, up-and-coming fintech companies, and press and news outlets to curate comprehensive content and media. Ashley holds a bachelor's degree in multimedia journalism from Florida Atlantic University.

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Ashley Fricker