Bank of America Customized Cash Rewards Secured Credit Card

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