Does the Bank of America Customized Cash Rewards Secured have an annual fee?

No. Our record lists a $0 annual fee for the Bank of America Customized Cash Rewards Secured.

Is the Bank of America Customized Cash Rewards Secured worth it in the first year?

Using our illustration ($12,000 of yearly spending, $3,000 of it in Choice Category), the first year comes out around $470 before credits, including a welcome bonus valued at $200. Year two drops to about $270 before credits.

What credit do I need for the Bank of America Customized Cash Rewards Secured?

Our record lists "Fair/Poor" credit as the typical target for the Bank of America Customized Cash Rewards Secured. It's a secured card, so a refundable deposit is part of the application. Bank of America makes the final decision based on its own criteria.

Bank of America® Customized Cash Rewards Secured Credit Card

Bank of America

No Annual Fee

Annual Fee

visaFair/Poorcash-backno-annual-feesecured5 months ago

Welcome Offer

$200Spend $1,000 within 3 months

Check issuer terms ↗

OpenCard analysis

Is the Bank of America Customized Cash Rewards Secured Credit Card right for you?

The Bank of America Customized Cash Rewards Secured is a no-annual-fee secured cash-back card from Bank of America. Its strongest everyday earning is 6% on Choice Category, with 1% on most other purchases. With no fee, the question is simply whether 6% on Choice Category beats what your current card earns there.

Who it's for

✓ People building or rebuilding credit with a refundable deposit
✓ People who spend steadily on Choice Category, where it earns 6%
✓ Anyone who wants Choice Category rewards without paying an annual fee

Who should skip it

— People who want a set-and-forget card
— Heavy spenders outside Choice Category — everything else earns 1%

First-year value estimate

Welcome bonus

$200

Rewards on spending

$270

Annual fee (year 1)

−$0

Year 1, before credits

$470

Year two, without the welcome bonus: about $270 before credits ($270 in rewards minus the $0 fee).

Assumptions

$3,000 a year in Choice Category (6%) and $9,000 on everything else (1%) — $12,000 total, about $1,000 a month.
Rewards valued at 1¢ per point or 1% cash back (cash-equivalent).
Welcome bonus: the $200 bonus at face value ≈ $200.
No annual fee in any year.

An illustration, not a promise of value. Change the spending to match yours; rewards are not cash until redeemed. Card data reviewed 2026-04-27.

How it compares

Capital One Quicksilver Secured Cash Rewards →

Capital One, same $0 annual fee; earns 1.5% on everything.

Discover it Secured →

Discover, same $0 annual fee; earns 5% on Rotating Categories (activate quarterly).

Bank of America Business Advantage Customized Cash Rewards Mastercard →

Bank of America, same $0 annual fee; earns 3% on Choice Category.

Compare side by side →

Rules and gotchas

The welcome bonus requires $1,000 in 3 months — roughly $333 a month. That fits inside the $1,000 a month in our illustration.
Bonus cap on Choice Category: 6% (3% + 3% first-year bonus) in your choice of category for the first year. Choose from: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings. On up to $2,500/quarter, then 1%
Bonus cap on Grocery & Wholesale: On up to $2,500 combined with choice category per quarter. Automatic 2% at grocery stores and wholesale clubs.
The 6% rate on Choice Category includes a first-year boost; the estimate above uses it, so year two earns less.

Frequently asked questions

Does the Bank of America Customized Cash Rewards Secured have an annual fee?: No. Our record lists a $0 annual fee for the Bank of America Customized Cash Rewards Secured.
What does the Bank of America Customized Cash Rewards Secured earn?: 6% on Choice Category, 3% on Grocery & Wholesale, and 1% on other purchases. Some bonus rates are capped; see the rules and gotchas above.
Is the Bank of America Customized Cash Rewards Secured worth it in the first year?: Using our illustration ($12,000 of yearly spending, $3,000 of it in Choice Category), the first year comes out around $470 before credits, including a welcome bonus valued at $200. Year two drops to about $270 before credits.
What credit do I need for the Bank of America Customized Cash Rewards Secured?: Our record lists "Fair/Poor" credit as the typical target for the Bank of America Customized Cash Rewards Secured. It's a secured card, so a refundable deposit is part of the application. Bank of America makes the final decision based on its own criteria.

Earning Rates

6×Choice Category (6%)6% (3% + 3% first-year bonus) in your choice of category for the first year. Choose from: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings. On up to $2,500/quarter, then 1%

3×Grocery & Wholesale (3%)On up to $2,500 combined with choice category per quarter. Automatic 2% at grocery stores and wholesale clubs.

1×Other

Other Benefits

Credit Building

Help strengthen or build your credit history

Fraud Protection

Zero Liability protection for unauthorized transactions

FICO Score

Free monthly FICO score access

Insurance

Purchase Protection

Extended Warranty

Sources

Last Updated: Apr 27, 2026