If you’re looking for a rewards credit card, the Bank of America® Customized Cash Rewards and Discover It are two great options. Both feature cashback rewards, no annual fee and intro APR, but the structures are varied in a way where one might be more appealing based on your spending. This comparison should help you find the best fit for your needs.
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Overview & Key Features
Bank of America Customized Cash Rewards
- Earn 3% cash back in a category of your choice (gas, online shopping, dining, travel, drug stores or home improvement/furnishings). creditedgesolutions.com
- Get 2% cash back at grocery stores and wholesale clubs. creditedgesolutions.com
- Get 1% cash back on all other purchases. creditedgesolutions.com
- Welcome bonus: $200 online cash rewards bonus after $1,000 spend in the first 90 days. creditedgesolutions.com
- 0% intro APR on purchases and balance transfers for 15 billing cycles (3% transfer fee applies). creditedgesolutions.com
- No annual fee. creditedgesolutions.com
- Flexibility to switch your 3% category monthly. creditedgesolutions.com
Limitations/Trade-offs:
- 3% cashback is capped at $2,500 per quarter in combined bonus category spending. Beyond this, cashback drops to 1%.
- Balance transfers incur a 3% fee.
Discover It
- Cashback program: Earn rewards on all purchases plus rotating bonus categories each quarter. creditedgesolutions.com
- No annual fee. creditedgesolutions.com
- 0% intro APR on purchases and balance transfers (terms vary). creditedgesolutions.com
- Fraud protection & card lock via mobile app. creditedgesolutions.com
- Opportunity for credit line increases with responsible usage. creditedgesolutions.com
Trade-offs:
- After the promo period, standard APR applies—balances can get costly.
- You need to activate and track rotating bonus categories quarterly.
- Starting credit limits may be modest, depending on credit history.
Rewards Structure Comparison
| Feature | Bank of America Customized Cash Rewards | Discover It |
|---|---|---|
| Base cashback | 1% on all other purchases | Cashback on all, rate depends on base + categories |
| Bonus category | 3% in one category (chosen monthly) | Rotating categories each quarter |
| Additional fixed bonus | 2% on groceries & wholesale clubs | No fixed bonus beyond rotating categories |
| Cap/limit | 3% only up to $2,500 combined purchases per quarter | Bonus categories capped at standard limits |
| Flexibility | Pick your category and change monthly | Automatic rotations, must track |
Analysis: If your spending falls into a few predictable categories, BOA’s system is flexible and reliable. Discover’s rotating categories can be rewarding for those who track and adapt quarterly.
Welcome Bonuses & Promotional APRs
- BOA Customized Cash Rewards: $200 bonus after $1,000 spend in first 90 days.
- Discover It: 0% APR on purchases and balance transfers during intro period.
Both cards have compelling sign-up offers. If you plan to carry a balance, the 0% APR window may be more meaningful—but ensure you repay before the rate resets.
Fees & Costs
- Annual Fee: None for both cards.
- Balance Transfers: BOA charges 3%; Discover also typically applies a fee.
- Interest After Promo: Both revert to standard APRs after the intro period.
- Other Costs: Possible late payment, cash advance, or foreign transaction fees.
Use-Case Scenarios & When Each One Shines
Scenario A: Predictable Spending
If most of your purchases are in consistent categories like gas or groceries, BOA’s 3% + 2% fixed system provides strong returns.
Scenario B: Maximizing Categories
If you enjoy optimizing rotating bonuses, Discover’s categories can deliver higher cashback.
Scenario C: Carrying a Balance
If you’ll transfer or carry balances temporarily, compare which card offers the longer or more favorable 0% APR window.
Scenario D: Simplicity
BOA’s structure is easier to manage with fixed bonuses—ideal for those who don’t want to track rotating categories.
Pros & Cons Summary
Bank of America Customized Cash Rewards
Pros:
- Flexibility to change 3% category monthly
- 2% cashback on groceries & wholesale clubs
- $200 signup bonus with modest spend requirement
- 0% intro APR for 15 billing cycles
- No annual fee
Cons:
- 3% capped at $2,500 combined purchases per quarter
- 3% balance transfer fee
Discover It
Pros:
- Rotating bonus categories each quarter
- Strong fraud protection & card security features
- 0% APR intro on purchases and transfers
- No annual fee
- Potential for credit line increases
Cons:
- Requires activation & tracking of categories
- Standard APR after promo can be high
- Modest initial credit limits
Final Verdict
The best card ultimately depends on your spending style:
- If you want predictability and consistency, Bank of America Customized Cash Rewards is a safer bet thanks to its fixed 2% grocery rate and customizable 3% category.
- If you’re active and strategic, the Discover It may yield higher returns with its rotating bonus categories—if you keep up with them.
- If you’re considering balance transfers or financing purchases, compare both promotional APR periods and fees before deciding.
