About Bank of America® Customized Cash
Rewards credit card for Students
The Bank of America® Customized Cash Rewards Credit Card for
Students offers:
- No
annual fee while you build credit and earn rewards.
- 0%
introductory APR on purchases for the first 15 billing cycles,
plus on balance transfers made within the first 60 days. Afterwards, a variable
APR of 18.24%–28.24% applies.
- A 3%
introductory balance transfer fee during the first 60 days, increasing
to 4% thereafter.
Quick Overview
Rewards & Perks
- Up
to 6% cash back in a chosen category for the first year (covers
gas & EV charging, online shopping including cable/internet/streaming,
dining, travel, drug stores, or home improvement/furnishings).
- 2%
cash back at grocery stores and wholesale clubs.
- 1%
cash back on all other purchases.
- These
rates apply on the first $2,500 combined in the bonus categories
per quarter; thereafter, you earn 1%.
After year one, the top category drops to 3% cash back,
while grocery/wholesale remains at 2%, with the same $2,500 quarterly
cap.
You can change your chosen bonus category once per
calendar month via online or mobile banking, or leave it unchanged.
Direct Link To Offer
Sign-Up Bonus & Intro Offers
- Earn
a $200 online cash rewards bonus after spending $1,000
within the first 90 days.
- The 0%
intro APR applies to purchases for 15 billing cycles and to balance
transfers made within the first 60 days.
Fees & Requirements
- Annual
fee: $0
- Balance
transfer fee: 3% during the first 60 days, then 4%.
- Credit
score requirement: Generally requires good to excellent credit—often
a FICO of 670 or higher.
- No
enrollment proof required: Unusually for a student card, you may not
need to prove college enrollment.
Additional Features
- Rewards
never expire as long as your account remains open.
- Offers
like free FICO score each month, mobile management, and contactless
payments.
- Integration
with Bank of America’s Preferred Rewards program can boost cash
back by 25%–75%.
Should Students Sign Up?
Pros:
- High
rewards, especially in your top spending category during the first year.
- Strong
sign-up bonus and intro APR—a rare combo.
- No
annual fee and flexible redemptions.
- Helps
build credit if used responsibly.
Cons:
- Requires
a good credit score—some students may not yet qualify.
- After
the first year, the top cash-back rate drops to 3%, and the quarterly cap
remains.
- High
post-intro APR (up to ~28%) and balance transfer fees apply
later.
- Lacks
travel perks or purchase protections found in some other cards.
Bottom Line
For students with good credit who spend in the bonus
categories, can pay balances in full monthly, and want to earn
flexible rewards, this is a strong option. The welcome offers and high
early rewards are compelling.
However, if your credit score is limited, or you’re likely
to carry a balance post-intro period (and thus incur high interest), or if your
spending doesn’t match the bonus categories, you might explore alternatives
like flat-rate cards—such as Bank of America’s Unlimited Cash Rewards or
Discover it® Student Cash Back, depending on your needs.
Review
If you qualify, plan to spend primarily in bonus
categories, and pay off your balance monthly, this card is a smart,
rewarding choice to build credit and optimize cash-back gains. Otherwise,
consider simpler or lower-APR alternatives until you’re ready.