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Bank of America enhances benefits for its cash rewards credit card

Bank of America has announced that its Customized Cash Rewards credit card now offers more ways for cardholders to earn cash back, with the expansion of two of its popular 3% cash back categories: gas and online shopping.  Consumer and small business cardholders can now earn 3% cash back at electric vehicle charging stations as a part of the expansion to the gas category, and consumer cardholders can also earn 3% cash back on cable, streaming, internet and phone plans within the online shopping category.

“We are constantly looking for ways to enhance our products to align with our clients’ needs and have observed growing demand for electric vehicle charging and streaming services. We are delighted to introduce these new additions to our Customized Cash Rewards product and to offer our clients more ways to maximize rewards based on their own personal spending habits,” said Jason Gaughan, Head of Consumer Credit Card Products at Bank of America.

Bank of America saw 44% growth in electric vehicle charging transactions during the first half of 2023. Additionally, 65% of active Customized Cash Rewards cardholders have used their card to pay for cable, internet, streaming and phone plans in the past year – with more than 70% of this spend including recurring charges.

PR Newswire

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