2023.8 Replace: Small enchancment about 3% cashback classes: the gasoline class now contains EV charging; the web procuring class now contains cable, streaming, web, and cellphone plan. HT: DoC.
2021.5 Replace: The cardboard identify is modified from BoA Money Rewards to BoA Custom-made Money Rewards.
Software Hyperlink
- BoA Custom-made Money Rewards common model.
- BoA Custom-made Money Rewards for College students. Notice: scholar model has the identical advantages because the common model besides the sign-up bonus. We advise college students apply for scholar model, non-students apply for non-student model, as prompt by their names.
Advantages
- $200 provide: earn $200 after spending $1,000 in first 3 months. Notice you can solely get this sign-up bonus if you happen to apply on-line, you gained’t get it if making use of in department. The very best provide on this card is $200.
- Earn 3% money again within the class of your alternative:
- on-line procuring + cable/streaming/web/cellphone plan
- eating
- journey
- gasoline + EV charging
- drug shops
- residence enchancment/furnishings
I like to recommend you to decide on the “on-line procuring” 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 may earn extra cashback primarily based on the quantity of asset. Earn extra 25% rewards if you’re 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 will have specific amount of deposit in Financial institution of America (BoA) Checking Account. In case you have no credit score historical past, it’s essential to go to the department to use.
- No annual payment.
Disadvantages
- You’ll solely earn 3% and a couple of% money again on the primary $2,500 in mixed bonus classes every quarter, then earn 1%.
- It has overseas transaction payment, so it is not a sensible choice outdoors the US.
Advisable Software Time
- You may get it even with out SSN and with no credit score historical past in any respect! We suggest you go to the department on this state of affairs.
- [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 absolutely up to date but, it’s possible you’ll not get declined due to this rule. As a substitute, it’s possible you’ll get authorized at first, after which the account can be closed due to “authorized in error”.
- [New] 24 month churn rule: This card is not going to be obtainable to you if you happen to presently have or have had the cardboard within the previous 24 month interval.
Abstract
The three% cashback on on-line procuring is first rate, as a result of the vary could be very broad. The cap of three% cashback is a bit small. Nevertheless, it’s nonetheless price making use of you probably have zero or very restricted credit score historical past. You must go to a department to use if you happen to wouldn’t have any credit score historical past, word that you’ll not get any sign-up bonus making use of in department, however don’t care concerning the bonus for your first bank card. You might change 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 an identical, however BoA deal with them as separate merchandise. Subsequently if you’re , you may apply for all of them so long as BoA 2/3/4 Rule is glad. Why it’s possible you’ll wish to get these playing cards? Other than the enroll bonuses, it’s also possible to 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 examine BoA utility standing.
- BoA reconsideration backdoor quantity: 877-383-0120 or 866-811-4108. Plainly the quantity is altering. Please inform us without delay if it fails. The representatives right here can get in contact with decision-makers straight.
Historic Affords Chart
Software Hyperlink
- BoA Custom-made Money Rewards common model.
- BoA Custom-made Money Rewards for College students. Notice: scholar model has the identical advantages because the common model besides the sign-up bonus. We advise college students apply for scholar model, non-students apply for non-student model, as prompt by their names.
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