Citi Custom Cash vs Bank of America Customized Cash Rewards

If you are looking for cash rewards, you may have come across the Citi Custom Cash℠ Card and the Bank of America® Customized Cash Rewards Credit Card. With the best cash reward credit cards from the two largest financial institutions in the United States, it’s worth comparing costs and reward rates to decide which one is best for your needs.

Map details

Card	Citi Custom Cash	Bank of America Cash Rewards Personal Credit Card
Welcome Bonus	$200 cashback after you spend $750 on purchases within the first 3 months ((performed as 20,000 ThankYou points)	$200 cashback after you spend $1,000 on purchases within the first 90 days.
Interest rate	5% refund up to $500 per billing cycle for your most eligible spending category. 1% on all other purchases	3% back on the relevant category of your choice 2% back at grocery stores and wholesale clubs (up to $2,500 on 2% and 3% per quarter purchases) 1% on all other purchases
0% introductory annual	15 months for balance purchases and transfers (from 16.24% to 26.24% floating APR thereafter)	18 billing cycles for purchases and balance transfers (after that, from 16.24% to 26.24% with variable APR)
Annual fee	$0	$0

Citi Custom Cash and Bank of America Customized Cash Rewards credit card

Interest rate

Citi Custom Cash	Bank of America Cash Rewards Personal Credit Card
5% refund up to $500 per billing cycle for your highest spend category. 1% on all other purchases	3% back on the relevant category of your choice 2% refund on grocery and wholesale club purchases (up to $2,500 combined for 2% and 3% categories per quarter) 1% on all other purchases

Winner: Citi Custom Cash

With Citi Custom Cash, you can get up to 5 percent cashback which is an impressive rate. A card with a flexible category and an automatic 5% cashback in the category with the highest spending in each billing cycle, rather than requiring registration, makes the card even more valuable. However, the $500 per billing cycle cap on your 5% reward limits your earnings to just $25 per month in this category, which translates to $300 in cashback per year.

For Bank of America Individual Cash Rewards, you get 3% cashback on your chosen category (Gas, Online, Restaurants, Travel, Pharmacy or Home & Furniture) and 2% on Grocery & Wholesale Clubs (from 2500 USD total for your bonus tiers per quarter). If you max out your rewards limit by only charging purchases that generate 3 percent of all $2,500 spend, you can still earn $300 in cash rewards per year.

However, because the 2 percent category makes it difficult to maximize the value of a Bank of America Customized Cash Rewards credit card, CreditCards.com estimates its average reward rate at 1.65 percent. Overall, it’s an easier route to that $300/year with Citi Custom Cash.

Welcome Bonus

Citi Custom Cash	Bank of America Cash Rewards Personal Credit Card
$200 cashback if you spend $750 on purchases within the first 3 months.	$200 cashback after you spend $1,000 on purchases within the first 90 days.

Winner: Citi Custom Cash

Both cards come with a $200 welcome bonus after meeting minimum spending requirements within the first three months of opening a new account. Citi requires less than $750 to earn it, while Bank of America requires a minimum of $1,000 to qualify.

Either way, most people can easily spend $250 or $333 per month to reach the required minimum to earn $200 cashback. Since the spending target for Citi Custom Cash is lower, it wins. Also, remember that you will earn regular rewards for your first purchases that count towards the bonus, giving you a huge cashback rate on those early purchases.

Refund

Citi Custom Cash	Bank of America Cash Rewards Personal Credit Card
Loan Application Direct deposit Check Shop with points Pay with points Gift cards Travel Charitable donations	Loan Application Direct deposit Merrill Qualifying Account Contribution Check

Winner: Citi Custom Cash

Citi does not initially pay cashback rewards, although this is considered a cashback card. Instead, rewards are part of the ThankYou Points program, where you can use your points for multiple purposes, including getting your money back the old fashioned way. You can also redeem points for a credit statement, direct deposit, paper check in the mail, gift cards, travel, and Amazon shopping.

The Bank of America Customized Cash Rewards card is a much more standard cash back card, limiting its repayment options to typical options: credit statement, direct deposit to a Bank of America account, deposit to a qualifying Merrill 529 account, or check out.

What card should you get?

Both cards offer flexibility and the same cash rewards, so which one is right for you? The Citi Custom Cash Card is best for those who have irregular spending habits or tend to spend large amounts in a specific category each month that is eligible for a $500 reward. Bank of America’s Individual Cash Rewards may have a slight advantage with the bonus for groceries and visits to stores like Costco or Sam’s Club, but you can trap yourself with a slightly lower reward.

• If you want a cash back bonus on food. Because the Bank of America Customized Cash card allows you to choose restaurants as a 3 percent choice category, and you get a 2 percent cash back on all qualifying purchases at grocery stores and wholesale clubs, this is a card for cardholders who primarily spend their money for food. Whether it’s dining out or takeaway.
• If you care about maximum money back. The Citi Custom Cash Card makes it easy to earn $25 in bonus cash each month as your top category is automatically selected for you. Other than placing your purchases on the map, it doesn’t take much effort to maximize it.
• If you have credit debt. For those with high-interest debt who want to transfer it to another card, the Bank of America Customized Cash card’s introductory year period will give you plenty of time to pay off that debt on a steady basis. For a cashback card, the balance transfer offer is quite attractive.
• If you want a low effort card. For those looking to get their money back easily without spending too much time and effort trying to figure out which ones have which bonus categories, the Citi Custom Cash Card is a great choice.

bottom line

When comparing a Citi Custom Cash Card to a Bank of America Customized Cash Rewards credit card, both have similar cash back features, bonus rewards, annual fees, and more. Since they are very similar, it is important to consider your typical shopping habits and which bank you find more convenient. You can then confidently move forward with the best cashback credit card for your unique needs.