Bank of America
Bank of America Customized Cash Rewards Secured Credit Card
Secured card to build credit with 6% cash back in your choice category (first year), 2% groceries, 1% all other purchases, and no annual fee.
Annual fee
None
Top rate
2x groceries
Quick look
Build Credit + 6% Cash Back
Earn 6% rewards on choice category while building credit
3.8
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
People rebuilding credit who want to maximize rewards in the first year, especially those with concentrated spending in one bonus category.
The verdict
This is a solid secured card for rebuilding credit. The no annual fee and strong first-year 6% category rewards make it one of the better secured options on the market. The main catch is that the highest rates drop after year one (choice category falls to 3%), and spending caps limit earning for high spenders.
If you're rebuilding credit and want to earn rewards while you do it, this card makes real sense. But if you're looking for long-term earning power after you've rebuilt, the year-two drop might disappoint—which is when you'd likely graduate to an unsecured card anyway.
Pros
- No annual fee is rare and valuable for a secured card, saving hundreds over several years of credit building
- Up to 6% cash back in your choice category for the first year, plus 2% at groceries and 1% elsewhere—strong earning for rebuilding credit
- Reports to all three credit bureaus; helps build credit history while you earn rewards
Cons
- Rewards drop significantly after year one: choice category falls from 6% to 3%, and you lose the premium tier
- Spending caps at $2,500 per quarter on bonus categories limit earning potential for higher spenders
- High 27.49% APR and 3% foreign transaction fee are standard for secured cards but still a cost worth knowing
Reward rates
| Category | Rate | Details |
|---|---|---|
| Groceries | 2x | 2% cash back at grocery stores and wholesale clubs |
| Everything else | 1x | 1% unlimited cash back on all other purchases |
Ranks 27th in groceries at 2%, behind premium cards like Blue Cash Preferred (6%). The standout is the first-year 6% in your choice category—you can change it monthly—which drops to 3% after year one. Spending is capped at $2,500 per quarter on bonus categories, so high spenders won't maximize benefits.
Fees and APR
Does it pay for itself?
No fee is the strongest feature here. Most secured cards charge $25–$99, so this card saves you hundreds if you keep it open for building credit over 12–18 months.
Other benefits
- $0 Liability Guarantee for fraudulent transactions
- Balance Connect® for overdraft protection with no transfer fees
- Paperless statement options
- Digital Wallet Technology - Add to Apple Pay, Google Pay, Samsung Pay
- Online and Mobile Banking access
- Account Alerts for payment tracking
- Security deposit required ($200-$5,000)
Similar cards
Non-secured sibling with identical rewards but no deposit required; requires good credit
Frequently asked questions
Can I change my choice category after picking it?
Yes—you can change your 6% category monthly, so you can optimize for your actual spending patterns and shift between groceries, restaurants, gas, and other options depending on the month.
What happens to my rewards after the first year?
The choice category drops from 6% to 3%, and you lose the premium year-one tier. Groceries stay at 2%, everything else at 1%. The $2,500 quarterly spending cap still applies to bonus categories.
How long before I can get an unsecured card?
Bank of America doesn't publish a set timeline, but they review your account periodically. Responsible use—on-time payments, low balances—over 6–18 months typically improves credit enough to qualify for unsecured cards or for the bank to graduate your deposit into an unsecured line.
Is the 3% foreign transaction fee worth it?
If you travel internationally, the 3% fee is on the higher side (many reward cards charge 0–2%). But it's standard for secured cards. The no annual fee helps offset the cost if you keep the card open for credit building.
Reviewed by YoungerFinance Editorial · Last updated August 10, 2026