2023.8 Replace: Small enchancment about 3% cashback classes: the gasoline class now consists of EV charging; the net purchasing class now consists of cable, streaming, web, and cellphone plan. HT: DoC.
2021.5 Replace: The cardboard title is modified from BoA Money Rewards to BoA Custom-made Money Rewards.
Utility Hyperlink
- BoA Custom-made Money Rewards common model.
- BoA Custom-made Money Rewards for College students. Notice: pupil model has the identical advantages because the common model besides the sign-up bonus. We advise college students apply for pupil model, non-students apply for non-student model, as recommended by their names.
Advantages
- $200 provide: earn $200 after spending $1,000 in first 3 months. Notice that you may solely get this sign-up bonus in case you apply on-line, you received’t get it if making use of in department. The best provide on this card is $200.
- Earn 3% money again within the class of your alternative:
- on-line purchasing + cable/streaming/web/cellphone plan
- eating
- journey
- gasoline + EV charging
- drug shops
- house enchancment/furnishings
I like to recommend you to decide on the “on-line purchasing” class as a result of it covers a really broad vary of purchases (see this official webpage about which retailers depend). And earn 2% money again at grocery shops and wholesale golf equipment (e.g. Sam’s Membership). Earn 1% money again on different purchases.
- BoA Most well-liked Rewards program: In case you have checking/financial savings/brokerage account in BoA or Merrill Edge, you possibly can earn extra cashback based mostly on the quantity of asset. Earn extra 25% rewards in case you are in Gold tier ($20k or extra in steadiness); 50% if Platinum tier ($50k or extra in steadiness); 75% if Platinum Honors tier ($100k or extra in steadiness).
- No credit score historical past wanted, so long as you have got certain quantity of deposit in Financial institution of America (BoA) Checking Account. In case you have no credit score historical past, you might want to go to the department to use.
- No annual payment.
Disadvantages
- You’ll solely earn 3% and a pair of% money again on the primary $2,500 in mixed bonus classes every quarter, then earn 1%.
- It has international transaction payment, so it isn’t a sensible choice exterior the US.
Beneficial Utility Time
- You will get it even with out SSN and with no credit score historical past in any respect! We advocate you go to the department on this scenario.
- [New] 2/3/4 Rule: BoA will solely approve you for at most: 2 playing cards per rolling 2 months; 3 playing cards per rolling 12 months; and 4 playing cards per rolling 24 months. As a result of their IT system hasn’t been totally up to date but, you might not get declined due to this rule. As a substitute, you might get authorised at first, after which the account will likely be closed due to “authorised in error”.
- [New] 24 month churn rule: This card won’t be obtainable to you in case you at present have or have had the cardboard within the previous 24 month interval.
Abstract
The three% cashback on on-line purchasing is first rate, as a result of the vary may be very vast. The cap of three% cashback is a bit small. Nevertheless, it’s nonetheless value making use of when you have zero or very restricted credit score historical past. It’s a must to go to a department to use in case you do not need any credit score historical past, word that you’ll not get any sign-up bonus making use of in department, however don’t care in regards to the bonus for your first bank card. You may swap to different bank cards with higher rewards after you have sufficient credit score historical past.
Different Variations
There are a number of different variations of this card. The advantages are similar, however BoA deal with them as separate merchandise. Due to this fact in case you are , you possibly can apply for all of them so long as BoA 2/3/4 Rule is happy. Why you might wish to get these playing cards? Aside from the join bonuses, you may as well improve the three% cashback restrict by holding a number of of those playing cards.
Associated Credit score Playing cards
After Making use of
- Click on right here to test BoA software standing.
- BoA reconsideration backdoor quantity: 877-383-0120 or 866-811-4108. Evidently the quantity is altering. Please inform us without delay if it fails. The representatives right here can get in contact with decision-makers immediately.
Historic Presents Chart
Utility Hyperlink
- BoA Custom-made Money Rewards common model.
- BoA Custom-made Money Rewards for College students. Notice: pupil model has the identical advantages because the common model besides the sign-up bonus. We advise college students apply for pupil model, non-students apply for non-student model, as recommended by their names.