Bank of America
Bank of America Customized Cash Rewards Credit Card for Students
Student-friendly card offering 6% cash back in a rotating choice category for year one, plus 2% at grocers and 1% elsewhere. No annual fee and $200 welcome bonus.
Annual fee
None
Top rate
6x online shopping
Credit needed
No credit history needed
Quick look
6% Cash Back Choice
Pick your category each month, earn 6% first year
4.0
out of 5
Rewards
Fees
Welcome bonus
Perks
Value
Overall score is a weighted average: Rewards 20% · Fees 20% · Welcome bonus 20% · Perks 20% · Value 20%.
Ideal for
Students building credit for the first time who value flexibility in choosing which category to earn from, especially those with domestic spending patterns and no plans to travel internationally.
The verdict
The Bank of America Customized Cash Rewards for Students delivers what every student needs: no annual fee, accessible approval for thin credit files, and rates that reward everyday spending. The 6% cash back choice category (yours to change monthly) edges out most peers on first-year earnings, and the $200 welcome bonus requires just $1,000 spend over 90 days—realistic for an active student. The 0% intro APR for 15 months is a genuine safety net if you carry a balance while building your credit.
Where it falls short: the rates drop to 3% in your choice category after year one, the 2% grocery rate caps at $2,500 per quarter, and the benefits list is thin—you get fraud protection and account alerts, but no purchase protections or travel perks. For a pure rewards player, stronger cash back cards exist (Discover it Student, Capital One Savor for Students), but as a first card that builds credit while you learn how to use rewards effectively, this one works.
Pros
- 6% cash back in a category you choose, switchable monthly—flexibility most student cards don't offer
- $200 welcome bonus for just $1,000 spend in 90 days, achievable for active students
- 0% intro APR on purchases and balance transfers for 15 months—genuine protection for new cardholders
- No annual fee, so you never lose money by keeping the card open to build credit history
- Bank of America's robust online and mobile banking, plus free FICO score access
Cons
- Rewards rates drop to 3% in your choice category after the first year, then stabilize there indefinitely
- 2% and 3% cash back capped at $2,500 combined per quarter—high earners will hit the ceiling fast
- Minimal perks: no purchase protection, no extended warranty, no travel benefits
- Foreign transaction fee (3% on overseas purchases) makes this a bad choice for study abroad
- Limited to students; once you graduate and update your status, you may be eligible only for the standard Customized Cash Rewards version
Reward rates
| Category | Rate | Details |
|---|---|---|
| Online shopping | 6x | 6% cash back on gas and EV charging stations, online shopping (including cable, internet, phone plans and streaming), dining, travel, drugstores and pharmacies, or home improvement and furnishings (your choice category for the first year) |
| Groceries | 2x | 2% cash back at grocery stores and wholesale clubs |
| Everything else | 1x | 1% cash back on all other purchases |
The 6% choice category is competitive for a no-fee student card—only the Pottery Barn and Kohl's store cards beat it, and those are narrowly tailored to retail. The 2% grocery rate ranks 27th in the catalog, behind premium cash back cards, but solid for students. The 1% floor is standard. Keep in mind that 3% and 2% rewards cap at $2,500 combined per quarter—above that ceiling, everything earns just 1%.
Fees and APR
Does it pay for itself?
Zero. This card has no reason to cost you money, and Bank of America makes it easy to set up at a branch if you're already a customer.
Welcome bonus
Is it worth chasing?
The $200 bonus is straightforward: spend $1,000 in 90 days, and you'll get $200 cash rewards posted. For a typical student, that's one or two months of regular spending. Not generous compared to premium cards (which can exceed $1,000), but realistic and achievable without manufactured spending.
Other benefits
- $0 liability for fraudulent transactions
- Balance Connect overdraft protection service available
- Paperless statement option
- Digital wallet support (Apple Pay, Google Pay, Samsung Pay)
- Mobile and online banking access
- Account alerts for balance and due dates
- Better Money Habits financial education resources
Similar cards
Discover's student card matches the no-fee and 0% intro APR structure, earns higher rates in rotating categories (5% on gas, groceries, restaurants in Q1), and offers automatic rewards matching at the end of year one—but only if you activate each quarter
Capital One's Savor for Students skips the choice category and instead guarantees 3% on dining and entertainment year-round, plus 1% everywhere else. Lower first-year peak than BofA's 6%, but no quarterly caps to track
Frequently asked questions
Will this card help me build credit as a student?
Yes. The card is explicitly designed for students and reports to all three credit bureaus. Responsible use (keeping your balance low relative to your limit, paying on time) will build your credit history faster than a secured card and without the deposit.
What happens to my rewards rate after the first year?
Your choice category drops from 6% to 3% cash back. Grocery rewards stay at 2%. This is intentional—Bank of America front-loads rewards for new students and then normalizes after year one. Many students close the card after year two and upgrade to a better card, which is fine.
Can I choose a different choice category every month?
Yes. You can switch your choice category each statement cycle from a fixed list: gas and EV charging, online shopping, dining, travel, drugstores, or home improvement. This flexibility is your main edge over fixed-category student cards.
What does the $2,500 quarterly cap actually mean?
It means that combined 3% and 2% cash back are capped at $2,500 of spending per quarter. Once you've spent $2,500 in your choice category and groceries combined in one quarter, everything else earns 1% for the rest of that quarter. If you spend $3,000 per quarter, you'll hit this ceiling and leave rewards on the table.
Is there a foreign transaction fee?
Yes, 3%. This is a significant drawback if you study abroad or travel internationally. If you're planning a semester or summer overseas, consider the Bank of America Travel Rewards card or another option with no foreign transaction fee.
How does the 0% intro APR work with balance transfers?
The 0% APR applies to purchases and balance transfers made within the first 60 days of account opening. After 15 months, the regular APR (17.49%–27.49% variable) kicks in. Balance transfers made after 60 days carry a 3% fee and won't qualify for the 0% rate.
Reviewed by YoungerFinance Editorial · Last updated August 10, 2026