Bank of America has renamed the ‘Cash Rewards’ card to ‘Customized Cash Rewards’ card, no other changes are being made to the card.
Hat tip to reader CJB
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Got an email offer from BofA about a new card and product chasing my existing CR card.
“As a valued customer, we’re giving you early access to be among the first to switch to the NEW Bank of America® Unlimited Cash Rewards Visa Signature® credit card and start earning unlimited 1.5% cash back on all purchases. There’s no application or credit check required to accept this offer—it’s that easy.….
Limited-time offer
Make the switch and get a $200 cash rewards bonus after you spend at least $1,000 on purchases within the first 90 days of receiving your new card. Plus, save with a 0% promo APR on new purchases for 15 billing cycles with your new card. Then a 20.99% variable APR thereafter.”
I wonder if I can product change for the offer, get the bonus, and then product change back.
Posted, thanks https://www.doctorofcredit.com/targeted-email-bank-of-america-product-change-with-no-credit-pull-get-200-bonus/
I have cash rewards card and got an email today from BofA:
Earn up to $150 additional cash back
Whatever’s on your to-do list, use your Bank of America® Cash Rewards credit card and earn an additional 1% cash back (up to $150) on all your purchases through 06/30/21. That’s on top of the rewards you’re already earning.
Remember, you’ll earn 4% in your choice category through 06/30/21 with this limited-time offer.
Please allow up to 12 weeks after the promotion ends to receive your incentive.
This might be a smart (and intentional) move by BoA! The new name is awkwardly long, but also painlessly straightforward to signify its most distinguishing feature. All the memes and jokes here (and on social media) by savvy credit cardholders (who BTW are not affected by the name change at all) help spread the word for the card, making it more visible to consumers who make no effort to actually dig through the benefits of a CC.
Bland. Should have renamed it to “Pimp Yo’ Cash” card
Quarter of a million employees and they couldn’t think of a better name…oh yes it’s Bank of America – makes sense. Paying your credit card is still a 2005 technology on their website.
This x100. I actually hate using the card just because making online payments is such a horrid experience.
“Custom Rewards”
They are Naming genius
What a dumb/pointless change lmao. Still a great card though
Sorry but I think this name is much worse the just “Cash Rewards”..
There are 10 billion cards out there called “cash rewards”, so this does differentiate it a bit. Although Customized Cash is a bit overlong. Maybe something like CustomCash Rewards.
I’ll probably start calling it the CCR, kind of like the Blue Cash Preferred turned into the BCP for everyone.
Could have just been “Choose your Rewards”….
“Customized” is clunky business speak and implies you are customizing food or an article of clothing…And I get what they are trying to do with it, but customized doesn’t make me think what they want me to think if I had never heard of the card.
Agreed. It’s an unnecessary long and unsexy word that many adults won’t even know how to spell correctly, let alone say. It also sounds too much like “custom-sized”, “custardized”, “circumcised”, etc.
What’s sad is that this new name was heavily focus grouped by BoA’s marketing team, and “customized” was best that they could come up with.
Personally, I think this is lowest-common-denominator type of marketing move to get the word out, since most people will never even read the product descriptions or T&C for credit cards, so the most important information has to be front-loaded into the product name.
It could have been “BOA, Have it Your Way”. 🙂
“Constrictor, Burger King, trademark infringement”
Citi has Custom Cash so they can’t use that name.
If you call it that outside of a credit card discussion, someone may think you’re talking about Creedence Clearwater Revival, not about a credit card. 🙂 That’s for decades been an abbreviation for that band.
I remember getting a bunch of surveys about this from BoA Advisory Panel, and this nomenclature was definitely not one of the options surveyed.
I’m outraged on your behalf.