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Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. SHARE: Drazen Zigic/iStock / Getty Images Plus/Getty Images December 22, 2021 Checkmark Bankrate logo How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. "Expert verified" means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. Dan Rafter has been writing about personal finance for more than two decades, covering everything from credit scores, mortgage loans and debt to credit cards, insurance, real estate and student loans. His work has appeared in the Washington Post, Chicago Tribune, Fox Business, The Motley Fool, The Christian Science Monitor, LendingTree, Business Insider and Mental Floss Magazine. He's also the editor of , a trade magazine serving real estate professionals throughout the Midwest. Brady Porche is an editorial director for Bankrate Credit Cards and CreditCards.com. He has two decades of professional experience as a writer and editor. Antonio Ruiz-Camacho is senior director of content for and . He has more than 20 years of international experience leading content teams, focused on consumer advice, technology and immigration. Bankrate logo The Bankrate promise
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Cards Citi Custom Cash Card Bank of America Customized Cash Rewards credit card Welcome bonus 20,000 ThankYou points (worth $200 in cash back) after spending $750 on purchases in the first 3 months $200 online cash rewards after spending $1,000 within the first 90 days of account opening Rewards rate 5% cash back on your top spending category each billing cycle (then 1%); 1% cash back on all other purchases 3% cash back on category purchases of your choice; 2% back at grocery stores and wholesale clubs (up to $2,500 in combined 3% and 2% category purchases each quarter, then 1%); 1% on all other purchases Intro APR 0% intro APR on balance transfers and purchases for 15 months. After that, the variable APR will be 16.24% – 26.24% 0% introductory APR for 18 billing cycles for purchases, and for balance transfers made in the first 60 days. After that, 16.24% – 26.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers. Annual fee $0 $0 Citi Custom Cash vs Bank of America Customized Cash highlights
Welcome bonus winner Citi Custom Cash
Both the Bank of America Customized Cash Rewards and Citi Custom Cash offer a welcome bonus worth $200 in cash back. The catch? With the Citi Custom Cash card, you’ll get this bonus (20,000 ThankYou points) after spending $750 within the first three months of account opening. With the Bank of America Customized Cash Rewards card, you must spend $1,000 within the first 90 days of account opening to get that $200 online cash rewards bonus. Rewards rate winner Bank of America Customized Cash Rewards
If you spend a lot in one category, the Citi Custom Cash card might make sense. You can pick one category of spending—your choices are restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home-improvement stores, fitness clubs or live entertainment—in which you’ll earn 5 percent cash back. In all other categories, you’ll earn 1 percent cash back. Be careful, though—you’ll only earn 5 percent cash back on the first $500 in purchases you make in your chosen category during a billing cycle. If you spend past that limit, you’ll earn just 1 percent cash back on purchases in your select category. The Bank of America Customized Cash Rewards card offers a more flexible rewards program. You can choose one category to earn 3 percent cash back in. You can choose from gas, online shopping, drugstores, home improvement, dining or travel for your 3 percent category. You’ll also earn 2 percent cash back at grocery stores and wholesale clubs and 1 percent back on all other purchases. There are limits, though. There’s a sending cap of up to $2,500 in combined 3 percent and 2 percent category purchases each quarter, after which you’ll earn 1 percent cash back on those purchases. The flexibility and ability to earn a higher cash back bonus in more than one spending category makes the Bank of America credit card’s rewards structure the stronger choice. Annual fee winner Tie
Neither the Bank of America Customized Cash Rewards nor the Citi Custom Cash card charges an annual fee. That’s an attractive feature considering the solid rewards programs offered by each card. Foreign transaction fee winner Tie
Both the Bank of America Customized Cash Rewards card and Citi Custom Cash charge a 3 percent foreign transaction fee for purchases made outside of the United States. Which card earns the most
How much can you earn with each of these cards? That depends on how you spend during the month. If you tend to spend heavily in just one category, you might earn more with the Citi Custom Cash card. If your spending is spread out over several types of purchases, the . Citi Custom Cash vs Bank of America Customized Cash Rewards spending example
Say you choose grocery stores as your 5 percent category with the Citi Custom Cash and spend $500 on groceries over the course of your billing cycle. You’ll earn 5 percent cash back on that spend, equal to $25 in cash back rewards. Say you also charge $800 during the rest of the month on non-grocery store purchases. You’ll earn 1 percent cash back on those buys, which comes out to $8 in rewards. That’s a total of $33 in cash back earnings for the month. Depending on how you spend, you can earn more with the Bank of America Customized Cash Rewards card by spending the same amount during your billing cycle. Say you choose travel as your 3 percent spending category with this card and spend $1,000 during the month. Doing so will earn you $30 cash back. If you then spend $300 at grocery stores and wholesale clubs, which are your 2 percent spending categories, you’ll earn an additional $6 in rewards. That gives you a total of $36 in cash back while spending the same $1,300 for the billing cycle—or $3 more than you’d get with the Citi Custom Cash card. However, if you spend a different way with each of these cards, you might earn more cash back with the Citi Custom Cash. Say your 3 percent category with the Customized Cash Card is online shopping, and you spend $500 during the month in this category. You’ll earn 3 percent cash back on those purchases, or $15 in cash back. If you then spend $400 at grocery stores and wholesale clubs during your billing cycle, you’ll earn an additional $8 in cash back. If you then spend $400 on non-category purchases with your Customized Cash card, you’ll earn an additional $4 in cash back. That would give you a total of $27 for the month, which is less than the example above in which you earned $33 with the Custom Cash card. Again, choosing the card that earns the most cash back each month depends on your spending habits. If you don’t spend enough in your 3 percent category with the Bank of America Customized Cash Rewards card, you might not earn as much cash back as you would with the Citi Custom Cash. At the same time, if you don’t spend enough in a 5 percent category with the Citi Custom Cash card, it might be more valuable to carry the Bank of America Customized Cash Rewards card. Why should you get the Citi Custom Cash Card
Additional benefits
The Citi Custom Cash doesn’t come with a lot of benefits besides its cash back program and 0 percent intro APR offer on purchases and balance transfers for 15 months (16.24 percent to 26.24 percent variable APR thereafter). You can, though, choose your own due date to make it easier to make your payments each month. The card also offers identity theft protection, fraud alerts and zero percent liability on unauthorized purchases. Redemption options
Like other , you’ll receive your cash back in the form of . You can redeem these points for cash back as a statement credit, direct deposit or check. You can also redeem your ThankYou points for rewards such as gift cards, Amazon shopping, airline miles and hotels. Recommended credit score
Citi does not recommend a specific credit score for the Custom Cash card. Most credit cards that offer rewards programs, though, require a higher credit score. If your FICO score is 700 or higher, you’ll boost your odds of qualifying for this card. Why should you get the Bank of America Customized Cash card
Additional benefits
Similar to the Citi Custom Cash card, the Bank of America Customized Cash Rewards card offers a 0 percent intro APR on purchases and balance transfers (made within the first 60 days) for a lengthy 18 billing cycles. After that, the rate converts to a variable APR ranging from 16.24 percent to 26.24 percent. The balance transfer fee is 3 percent (with a $10 minimum), which is in line with fees from most . One of the most valuable is the ability to customize your cash back bonus categories each month. So, if you’re about to embark on an expensive vacation, you may wish to make travel your choice category for that month. Or, you might make home renovations your choice category if you need to purchase an expensive home appliance like a washing machine or refrigerator. Note, the Bank of America Customized Cash Rewards card is part of Bank of America’s program. This program can greatly increase the amount of cash back you earn with the card. The value of this program depends on how much money you have invested in a Bank of America bank account or Merrill investment account. At the Platinum Honors tier, for example—meaning you have at least $100,000 deposited with a Bank of America bank account or a Merrill investment account—you’ll earn a 75 percent bonus on all the cash back you earn with the Bank of America Customized Cash Rewards card. This means that you’ll earn 5.25 percent cash back in your 3 percent spending category and 3.5 percent when spending at grocery stores and wholesale clubs. You’ll also earn 1.75 percent cash back on all other purchases. The card also offers a $0 liability guarantee, protecting you from fraudulent card transactions, and access to Bank of America’s online and mobile banking service. Redemption options
You can bonus as a statement credit or direct deposit into a Bank of America checking or savings account or an eligible Merrill account. You can also redeem your rewards for a check starting at $25 or as a contribution to a qualifying 529 plan with Merrill. Recommended credit score
Bank of America doesn’t publish the credit scores you’ll need to qualify for the Bank of America Customized Cash Rewards card. But, as with the Citi Custom Cash card, your chances of approval will be higher if your FICO credit score is at least 700. The bottom line
Which of these two cards is better? Again, it depends on your monthly spending habits. If you’re a relatively low spender who usually buys a lot in one specific category, the Citi Custom Cash card might make sense. But if you spend across several categories and are part of Bank of America’s Preferred Rewards program, the Bank of America Customized Cash Rewards card could provide you with a greater amount of cash back each month. Bank of America Customized Cash Rewards credit card information was last updated on August 23, 2022. SHARE: Dan Rafter has been writing about personal finance for more than two decades, covering everything from credit scores, mortgage loans and debt to credit cards, insurance, real estate and student loans. His work has appeared in the Washington Post, Chicago Tribune, Fox Business, The Motley Fool, The Christian Science Monitor, LendingTree, Business Insider and Mental Floss Magazine. He's also the editor of , a trade magazine serving real estate professionals throughout the Midwest. Brady Porche is an editorial director for Bankrate Credit Cards and CreditCards.com. He has two decades of professional experience as a writer and editor. Antonio Ruiz-Camacho is senior director of content for and . He has more than 20 years of international experience leading content teams, focused on consumer advice, technology and immigration.