Bank of America 6% Cash Back Cards: 2026 Review

Deep Dive: Bank of America® Customized Cash Rewards Credit Card

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Deep Dive: Bank of America® Unlimited Cash Rewards Secured Credit Card

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The Preferred Rewards Multiplier: BofA's Hidden Advantage

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This is the section most reviews gloss over — and it's where the Bank of America ecosystem can become genuinely elite.

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If you hold qualifying balances across Bank of America deposit accounts and Merrill investment accounts, you may qualify for the Preferred Rewards program, which stacks a bonus multiplier on top of your base card earnings:

What this means in practice: a Platinum Honors member using the Customized Cash Rewards card in year one doesn't earn 6% — they earn an effective 10.5% cash back in their choice category. That's more than most premium travel cards, with no annual fee.

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Even at the Gold tier, 6% becomes 7.5% — still extraordinary for a no-fee card. If you're already a BofA/Merrill customer with meaningful balances, this card becomes one of the best cash back options in the entire market.

Real-World Earnings: How Much Can You Actually Make?

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Let's run the actual math on a few scenarios:

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Scenario A: Maximizing the Customized Cash Rewards (Year One)

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• Spend $2,500/quarter in choice category = $10,000/year × 6% = $600
• Remaining purchases at 1% = $5,000 × 1% = $50
• Welcome bonus = $200
• Total year one earnings: $850

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Scenario B: Preferred Rewards Platinum Honors cardholder (Year One)

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• $10,000/year × 10.5% (Platinum Honors rate) = $1,050
• Welcome bonus = $200
• Total year one earnings: $1,250

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Scenario C: Unlimited Cash Rewards (Year One)

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• $20,000 in annual spending × 2% = $400
• Welcome bonus = $200
• Total year one earnings: $600

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Scenario D: Using Both Cards Together

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• Customized card: max the $2,500/quarter cap at 6% = $600/year
• Unlimited card: all remaining spend at 2% = additional $200–$400/year
• Dual welcome bonuses = $400
• Total year one: $1,200–$1,400

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The dual-card strategy is particularly effective, and tools like Kudos make it effortless by automatically routing each purchase to the card earning the highest rate.

How to Redeem Your Cash Back

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Redemption is simple and flexible. Bank of America gives you three main options:

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Statement credit: Apply cash back directly to your credit card bill. No minimum redemption required when depositing into a Bank of America account or applying as a statement credit.

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Bank of America deposit: Transfer cash back directly into your Bank of America checking or savings account. This is often the fastest and most flexible option.

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Check by mail: Request a paper check mailed to your address. A $25 minimum applies for this option.

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One note: unlike some competing programs, Bank of America does not allow you to transfer rewards to airline or hotel loyalty programs. Your cash back is cash — clean and simple.

Who Should Get These Cards?

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✅ Apply for the Customized Cash Rewards if you:

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• Spend heavily in one of the six choice categories (especially online shopping, gas, or dining)
• Can realistically hit the $2,500 quarterly cap in your choice + grocery categories combined
• Want flexibility to shift categories month-to-month based on your life
• Are an existing BofA/Merrill customer who qualifies for Preferred Rewards

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✅ Apply for the Unlimited Cash Rewards if you:

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• Want zero-maintenance cash back with no categories to manage
• Spend broadly across categories without a single dominant area
• Already have category-optimized cards and want a reliable catch-all

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⚠️ You may want to look elsewhere if you:

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• Travel internationally frequently (the 3% foreign transaction fee hurts)
• Spend well above $10,000/year in a single category (a card with no cap may serve you better)
• Prefer travel rewards points over cash back
• Are under the Chase 5/24 rule and have more valuable sign-up bonuses to pursue

How These Cards Compare to Top Competitors

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Citi Custom Cash® Card

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Chase Freedom Flex®

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[[ SINGLE_CARD * {"id": "2883", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Cash Back Seekers", "headerHint" : "Cash Back Rewards" } ]]

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Capital One SavorOne Rewards Credit Card

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[[ SINGLE_CARD * {"id": "18233", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Everyday Spenders", "headerHint": "Good for Entertainment Services"} ]]

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Wells Fargo Active Cash® Card

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[[ SINGLE_CARD * {"id": "2894", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Cash Back Seekers", "headerHint": "Straightforward and Simple Rewards"} ]]

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Blue Cash Everyday® Card from American Express (See Rates & Fees)

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[[ SINGLE_CARD * {"id": "260", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Reward Seekers", "headerHint": "Cash Back Rewards Program"} ]]

^{Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. Eligibility and Benefit level vary by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.}

How Kudos Helps You Maximize These Cards

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Getting a great card is step one. Using it optimally — every single time — is where most people leave money on the table. The average cardholder with 2–3 cards misses out on $441 annually simply by grabbing the wrong card at checkout.

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Kudos solves this with automatic best-card selection. Before you check out online, Kudos instantly calculates which of your cards earns the most for that specific merchant and purchase type. When you have the BofA Customized card alongside other cards, Kudos ensures you're always routing the right spend to the right card — no mental math, no category checking.

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For the Customized Cash Rewards card specifically, Kudos is especially useful because:

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• It tracks your quarterly cap so you never accidentally "waste" the 6% rate by going over $2,500 in a category without realizing it
• It can remind you when a category switch would benefit your next month's spending pattern
• It keeps your cash back balance visible alongside all your other rewards, so you know exactly when you're ready to redeem

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Additionally, the average Kudos member forgets to redeem $624 in card benefits each year. Kudos surfaces expiring credits and redemption opportunities automatically.

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Use code GET20 when signing up for Kudos to earn an extra $20 after your first eligible purchase.

Frequently Asked Questions

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Do existing Bank of America cardholders get the 6% rate?

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No. The 6% first-year promotion is exclusively for new cardholders. Existing cardholders earn at the standard 3% choice category rate. If you already have the card, check if you qualify to product-change or apply for a new account (note: BofA typically limits how many of the same card you can hold).

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Can I get both the Customized and Unlimited Cash Rewards cards?

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Yes — and it's a smart strategy. Many cardholders use the Customized Cash Rewards for their top spending category (capturing the 6%) and the Unlimited Cash Rewards as a catch-all for everything else (capturing 2% on anything outside the quarterly cap). Just be mindful of your credit applications and space them appropriately.

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What happens to my cash back after year one?

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Your rate drops to 3% in your choice category and 2% at grocery stores/wholesale clubs (still subject to the $2,500 quarterly cap). Cash back already earned never expires as long as your account stays open. The card remains a solid long-term keeper, especially if you're a Preferred Rewards member.

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How does the $2,500 quarterly cap work exactly?

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The cap applies to combined spending across your choice category AND grocery stores/wholesale clubs in a single quarter. For example, if you spend $1,500 in your online shopping choice category and $1,000 at grocery stores in Q1, you've hit the cap — any additional purchases in either category earn just 1% for the rest of that quarter.

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Can I switch my choice category mid-month?

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Yes, once per calendar month. Your new category takes effect immediately. However, the quarterly spending cap continues to accumulate regardless of category changes, so switching categories doesn't reset your cap.

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What credit score do I need to qualify?

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The Customized Cash Rewards card is designed for applicants with good to excellent credit — generally a FICO score of 670 or higher, with the best approval odds at 720+. Bank of America also considers your relationship with the bank, so existing BofA customers may have a slight advantage.

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Is there a foreign transaction fee?

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Yes, both BofA cash back cards charge a 3% foreign transaction fee on purchases made outside the U.S. If you travel internationally, consider pairing these with a no-foreign-transaction-fee cards.

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How does the 0% intro APR work?

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Both cards offer 0% APR for 15 billing cycles on new purchases and balance transfers made in the first 60 days. After the intro period, the variable APR is currently 17.49%–27.49%. Balance transfers also carry a 3% intro fee (rising to 5% after 60 days). Note: to protect your cash back and avoid interest, always pay your full statement balance each month.

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The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Rates and fees subject to change.