Bank of America Customized Cash Rewards Secured Credit Card
The Bank of America Customized Cash Rewards Secured Credit Card is arguably the best secured credit card available today. It offers up to 3% cash back and charges no annual fee. It requires a refundable security deposit of at least $300 to activate.

Our Rating
4.8/5.0
4.8/5.0
Welcome Offer
None
None
Annual Fee
$0
$0
0% on Purchases
None
None
Rewards Rate
1-3%
1-3%
0% on Balance Transfers
None
None
Snapshot
- 3% cash back in the category of your choice
- 2% cash back at grocery stores/wholesale clubs
- 1% cash back on all other purchases
- $0 annual fee
- Minimum refundable security deposit
Editorial Review
The Bank of America Customized Cash Rewards Secured Credit Card functions similar to a standard credit card. This card offers up to 3% in cash back rewards, and requires a refundable security deposit of at least $300 (maximum $4,900) to activate.
Note that our ratings are based on a comparison of other secured credit cards only. With a good credit score, you may be able to qualify for an unsecured credit card with similar or better features,
Pros & Cons
Pros
- 3% cash back in the category of your choice
- 2% cash back at grocery stores/wholesale clubs
- 1% cash back on all other purchases
- $0 annual fee
- Refundable security deposit
Cons
- No sign-up bonus
- Foreign transaction fee
- Earning cap of $2,500 each quarter from combined purchases between the 3% and 2% cash back categories
Rewards
- 3% cash back in the category of your choice
- 2% cash back at grocery stores/wholesale clubs
- 1% cash back on all other purchases
- Earn 3% and 2% cash back on the first $2,500 in combined purchases from a chosen category, and grocery/wholesale clubs every quarter. You will then earn 1% for the remainder of that quarter
- Rewards can be redeemed for statement credits of any amount at any time
Features and Benefits
- $0 Liability Guarantee: Receive notifications about any fraudulent transactions
- Mobile Banking: Pay your credit card bill online as well as transfer funds, and more
- Account Alerts: Receive mobile alerts via text or email when payments become paid or are due
- FICO® Score Program: Free access to your credit score that is updated monthly
- Overdraft Protection: Prevent overdrafts, returned checks, or any declined purchases with this optional feature