Bank of America® Customized Cash Rewards Secured Credit Card

Bank of America® Customized Cash Rewards Secured Credit Card Review

This is a secured credit card credit card issued by Bank of America. If you're wondering whether Bank of America® Customized Cash Rewards Secured Credit Card is the right card for you, read on.

Key Takeaways

• High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 26.99%
• No annual fee*. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don't have to pay an annual fee for the privilege.
• 3% Balance transfer fee. Bank of America® Customized Cash Rewards Secured Credit Card charges a fee of 3% on balance transfers. For example, a balance of $1,000 could cost $30 in transfer fees. The minimum fee is $10.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
• Accepts cosigners. Bank of America is one of the few credit card issuers that allows applicants to include a cosigner. Adding a cosigner can really improve your approval chances if your credit is not great.
• Secured card. This card requires a refundable deposit before you qualify for a line of credit. These cards are often used to improve the credit of people with poor credit or little credit history.
• Multiple credit card benefits. Includes generous credit card perks, such as emergency support, extended warranty protection on purchases, identity theft protection, price protection, travel accident insurance, travel assistance, and fraud protection.
• Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still have relatively good approval odds.

Pros & Cons of Bank of America® Customized Cash Rewards Secured Credit Card

Bank of America® Customized Cash Rewards Secured Credit Card FAQ

Does Bank of America® Customized Cash Rewards Secured Credit Card have a cash back or rewards program?

No, it does not offer a rewards program.

What are the Bank of America® Customized Cash Rewards Secured Credit Card benefits?

It provides the following benefits:

• Free Credit Score
• Emergency Support
• Extended Warranty Protection
• Zero fraud liability
• Price Protection
• Travel Accident Insurance
• Travel Assistance
• Reports to major credit bureaus

What are the relevant APRs for Bank of America® Customized Cash Rewards Secured Credit Card?

Bank of America® Customized Cash Rewards Secured Credit Card has a variable purchase APR of 26.99%. The card has a variable balance transfer APR of 26.99% . It also has a variable cash advance APR of 29.99% .

What are the fees for Bank of America® Customized Cash Rewards Secured Credit Card?

The following fees apply:

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost card.

Does Bank of America® Customized Cash Rewards Secured Credit Card report your account activity to credit bureaus?

Yes, Bank of America® Customized Cash Rewards Secured Credit Card reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Bank of America® Customized Cash Rewards Secured Credit Card

• Visit the Bank of America® Customized Cash Rewards Secured Credit Card website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.