Bank of America Cash Rewards cardholders can now choose how they earn rewards

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The editorial content below is based solely on the objective assessment of our writers and is not driven by advertising dollars. However, we may receive compensation when you click on links to products from our partners. Learn more about our advertising policy. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Please see the bank's website for the most current version of card offers; and please review our list of best credit cards to find our current offers, or use our CardMatchTM tool to find cards matched to your needs.

Bank of America has changed the way Bank of America® Cash Rewards cardholders earn their cash back. Starting Jan. 14, 2019, cardholders can choose which category they wish to earn a 3-percent bonus. So, instead of earning 3 percent cash back on the fixed, gas category, cardholders can select from six popular categories, including gas, online shopping, dining, travel, drug stores and home improvement and furnishings.

According to Jason Gaughan, credit card executive at Bank of America, the update will help cardholders maximize their rewards earnings by allowing them to “choose which categories best align with their life priorities.”

Bank of America Cash Rewards update

  Previous offer Updated offer
Rewards rate
  • 3% cash back on gas
  • 2% cash back on groceries and wholesale purchases
  • $2,500 combined limit on 2% and 3% categories each quarter
  • 1% cash back on general purchases
  • 3% cash back on gas, online shopping, dining, travel, drug stores or home improvement and furnishings
  • 2% cash back on groceries and wholesale purchases
  • $2,500 combined limit on 2% and 3% categories each quarter
  • 1% cash back on general purchases

Cardholders will continue to earn 2 percent cash back on groceries and wholesale club purchases, as well as 1 percent cash back on all other purchases.

Choosing a 3-percent bonus category

The 3-percent bonus category is automatically set to gas. However, new and existing Cash Rewards cardholders now have the ability to change the 3-percent category in the Bank of America mobile banking app or via online banking. Cardholders can change the category one time each calendar month.

A solid deal

The opportunity to earn 3 percent cash back on gas purchases is a generous offer. However, being able to select the category in which you earn the 3-percent bonus is even better. Depending on how you shop throughout the year, a little planning ahead can help maximize your earning potential. For example, if you’re planning a road trip for spring break, you can select the gas category during the months of March and April. Or, you can select the online shopping category during November to take advantage of Black Friday and Cyber Monday deals.

Just remember, once you select a bonus category, you are committed for the remainder of the month – so be sure to plan wisely.

See related: Earn $150 cash back with the Bank of American Cash Rewards credit card, Guide to the Bank of America Cash Rewards credit card


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Updated: 03-19-2019