Money Analysed

Choosing Your Perfect Credit Card: A Detailed Comparison of Wells Fargo and Bank of America

Credit cards have become indispensable in our day-to-day lives. We use them to make purchases, book travel tickets, pay bills, and more.

Banks, too, have been offering different types of credit cards to their customers, each with unique features and benefits. In this article, we will compare two popular credit cards and their features and benefits – the Wells Fargo Autograph Card and the Bank of America Customized Cash Rewards credit card.

Wells Fargo Autograph Card vs. Bank of America Customized Cash Rewards Credit Card – Features and Benefits

The Wells Fargo Autograph Card is a credit card issued by Wells Fargo, one of the largest banks in the United States.

The Bank of America Customized Cash Rewards credit card is issued by Bank of America, another prominent bank in the United States.

Generous Welcome Bonuses

If you’re someone who likes to earn rewards quickly, welcome bonuses can be very attractive. The Wells Fargo Autograph Card offers a welcome bonus of 20,000 bonus points when you spend $1,000 in the first three months of account opening.

On the other hand, the Bank of America Customized Cash Rewards credit card offers a $200 cash rewards bonus when you spend $1,000 in the first 90 days of account opening.

Everyday Earning Potential

Another key feature to consider is the earning potential. The Wells Fargo Autograph Card lets you earn points on every purchase you make.

You can earn 3 points per $1 spent on gas, rideshares, transit, and parking. You can also earn 1.5 points per $1 spent on all other purchases.

The Bank of America Customized Cash Rewards credit card also offers cash rewards on every purchase. You can earn 3% cash back in a category of your choice – gas, online shopping, dining, travel, drug stores, or home improvement/furnishings.

You can also earn 2% cash back at grocery stores and wholesale clubs and 1% cash back on all other purchases.

Annual Fee and Visa Payment Network

Both these cards come with no annual fee. The Wells Fargo Autograph Card is a Visa Signature card, which means it comes with added benefits like travel services, roadside dispatch, and more.

The Bank of America Customized Cash Rewards credit card is a Visa card, which is widely accepted around the world.

Bonus Categories

Both these cards offer bonus categories where you can earn more rewards/cash back. The Wells Fargo Autograph Card lets you earn 3 points per $1 spent on gas, rideshares, transit, and parking.

It also offers bonus earnings on travel, which includes airlines, hotels, homestays, and car rentals. The Bank of America Customized Cash Rewards credit card allows you to choose a category in which you’d like to earn 3% cash back.

Bank of America Preferred Rewards

If you’re an existing Bank of America customer, you can enroll in the Preferred Rewards program. This program allows you to earn more rewards/cash back on your credit card purchases, depending on the amount of money you have in your Bank of America/Merrill investment account.

You can earn a bonus of 25% to 75% on your rewards/cash back earnings.

Intro APR Offers

Both these cards come with introductory APR offers. The Wells Fargo Autograph Card lets you enjoy 0% intro APR for the first 15 months on purchases and balance transfers (balance transfer fees apply).

The Bank of America Customized Cash Rewards credit card lets you enjoy 0% intro APR for the first 15 billing cycles on purchases and balance transfers (balance transfer fees apply).

Redemption Options

When it comes to redeeming your rewards/cash back, both these cards offer multiple options. The Wells Fargo Autograph Card lets you redeem your points for cash, travel, gift cards, merchandise, and more.

You can also pool your points with other Wells Fargo rewards program members. The Bank of America Customized Cash Rewards credit card allows you to redeem your cash rewards as a statement credit, deposit into an eligible Bank of America/Merrill account, or as an eligible charitable donation.

Credit Requirements

Both these cards require good to excellent credit to qualify. The Wells Fargo Autograph Card typically requires a credit score of 670 or higher.

The Bank of America Customized Cash Rewards credit card typically requires a credit score of 690 or higher.

Foreign Transaction Fee and

Travel Perks

If you’re someone who travels frequently, foreign transaction fees and travel perks are important considerations. The Wells Fargo Autograph Card has no foreign transaction fee and comes with travel perks like travel accident insurance and emergency assistance.

The Bank of America Customized Cash Rewards credit card has a 3% foreign transaction fee and comes with travel perks like trip cancellation/interruption insurance, travel accident insurance, and emergency assistance.

Cell Phone Protection

Both these cards offer cell phone protection, which is a unique feature. If you pay your cell phone bill using either of these cards, you can get protection against damage or theft of your cell phone.

The Wells Fargo Autograph Card offers up to $600 in coverage (subject to a $25 deductible) per claim and up to two claims per year. The Bank of America Customized Cash Rewards credit card offers up to $1,000 in coverage (subject to a $50 deductible) per claim and up to two claims per year.

Conclusion

Choosing the right credit card can be tricky. It involves taking into account your spending habits, reward preferences, credit score, and other factors.

The Wells Fargo Autograph Card and the Bank of America Customized Cash Rewards credit card are both great options, depending on your preferences. We hope this article has given you a clear rundown of the features and benefits of both these cards, thus making it easier for you to make an informed decision.

In this article, we will take a closer look at the Bank of America Customized Cash Rewards credit card, exploring its features and benefits. We will also compare its bonus categories and Preferred Rewards program with those of other cards.

Bank of America Customized Cash Rewards Credit Card Features and Benefits

Card Type and Issuer

The Bank of America Customized Cash Rewards credit card is a cashback credit card issued by Bank of America, one of the largest banks in the United States. This card allows you to earn cashback rewards on every purchase you make with the card.

Earning Rate and Redemption Methods

With this credit card, you can earn 3% cashback in a category of your choice, including gas, online shopping, dining, travel, drug stores, and home improvement/furnishings. You can also earn 2% cashback at grocery stores and wholesale clubs and 1% cashback on all other purchases.

Redemption methods on this card are easy and convenient. You can redeem your cashback rewards as a statement credit, deposit them into an eligible Bank of America/Merrill account, or donate them to a qualifying charitable organization.

Bank of America Preferred Rewards

Bank of America has a loyalty program called Preferred Rewards, which rewards customers who have a qualifying Bank of America deposited account and maintain a certain level of balance across their Bank of America deposit and/or Merrill investment accounts. Preferred Rewards has three tiers – Gold, Platinum, and Platinum Honors.

If you’re a member of this program, you can earn more rewards/cashback on your Bank of America credit card purchases. Depending on your tier, you can earn bonuses of 25% to 75% on your rewards/cashback earnings.

You can also enjoy extra benefits such as waived fees, interest rate discounts, and more.

Intro APR Offers

The Bank of America Customized Cash Rewards credit card comes with an introductory APR offer for purchases and balance transfers. You can enjoy a 0% intro APR for the first 15 billing cycles on both purchases and balance transfers (balance transfer fees apply).

Credit Requirements

To qualify for this credit card, you typically need to have a good to excellent credit score, with a score of 690 or above. You also need to have a steady income and a good credit history.

Comparison of

Bonus Categories and Preferred Rewards

When comparing credit cards, it’s important to consider the bonus categories and rewards program that align with your spending habits and lifestyle. The Bank of America Customized Cash Rewards credit card has six bonus categories, and you can choose one as your 3% cashback category.

The gas category is a popular choice for drivers, as it includes gas stations and merchants that sell gas, such as Chevron, Shell, and others. The online shopping category is great for people who frequently shop online, as it includes popular websites such as Amazon, eBay, and others.

The dining category includes restaurants, cafes, bars, and other eateries. The travel category is great for frequent travelers and includes airlines, hotels, car rentals, and more.

Finally, the drug stores and home improvement/furnishings categories are great for people who frequently shop at these types of merchants. When compared to other cards, the Bank of America Customized Cash Rewards credit card has more bonus categories than most other cashback cards.

However, other cards may offer higher cashback rates on some of these same categories. For example, some cards offer a 4% cashback rate on gas, while the Bank of America Customized Cash Rewards credit card offers 3%.

The

Bank of America Preferred Rewards program is a great addition to the card, as it allows cardholders to earn even more rewards/cashback on their purchases. However, not everyone may qualify for this program, as it requires a certain amount of balance across Bank of America deposit and/or Merrill investment accounts.

Conclusion

In conclusion, the Bank of America Customized Cash Rewards credit card is a great cashback credit card that offers a wide range of bonus categories and an easy-to-use rewards program. Additionally, its introductory APR offer and access to the Preferred Rewards program make it an even more attractive option for Bank of America customers.

However, it’s important to compare this card with other cards on the market to determine which card is the best fit for your spending habits and lifestyle. In this article, we will compare two popular credit cards, the Wells Fargo Autograph Card and the Bank of America Customized Cash Rewards credit card, in terms of their redemption options, credit requirements, foreign transaction fees, and travel perks.

Comparison of

Redemption Options and

Credit Requirements

Redemption Options

When it comes to redemption options, both the Wells Fargo Autograph Card and the Bank of America Customized Cash Rewards credit card offer a variety of options. With the Wells Fargo Autograph Card, you can redeem your points for statement credits, cash rewards, travel, merchandise, gift cards, and more.

You can also pool your points with other Wells Fargo rewards program members. With the Bank of America Customized Cash Rewards credit card, you can redeem your cashback rewards as a statement credit, deposit them into an eligible Bank of America/Merrill account, or donate them to a qualifying charitable organization.

The redemption options are straightforward and easy to use for both cards.

Credit Requirements

The Wells Fargo Autograph Card typically requires a credit score of 670 or higher. This is considered to be good credit and is achievable for many people.

The Bank of America Customized Cash Rewards credit card typically requires a credit score of 690 or higher, which is slightly higher than the requirement for the Wells Fargo Autograph Card. However, this is still considered to be good credit and is achievable for many people.

Overall, both credit cards have reasonable credit requirements. However, it’s important to keep in mind that credit score requirements are not the only factor used in determining eligibility for a credit card.

Banks also consider factors like income, credit history, and debt-to-income ratio. Comparison of

Foreign Transaction Fee and

Travel Perks

Foreign Transaction Fee

When it comes to foreign transaction fees, the Wells Fargo Autograph Card has no foreign transaction fee, making it a great option for people who travel outside the United States frequently.

The Bank of America Customized Cash Rewards credit card, on the other hand, charges a foreign transaction fee of 3% of the transaction amount. This fee can add up quickly, especially if you use your card frequently while traveling abroad.

If you’re someone who frequently travels abroad, it’s important to consider a credit card with no foreign transaction fees. Not only can these fees add up quickly, but they can also make your purchases more expensive than necessary.

Travel Perks

Both the Wells Fargo Autograph Card and the Bank of America Customized Cash Rewards credit card offer travel perks that can be appealing to travelers. The Wells Fargo Autograph Card offers travel accident insurance, emergency assistance, and travel services.

The Bank of America Customized Cash Rewards credit card, on the other hand, offers trip cancellation/interruption insurance, travel accident insurance, and emergency assistance. Overall, both cards offer valuable travel perks that can provide peace of mind to travelers.

However, the specific perks offered may be more or less valuable depending on your individual needs and preferences.

Conclusion

In conclusion, the Wells Fargo Autograph Card and the Bank of America Customized Cash Rewards credit card have different features and benefits that make them appealing to different types of customers. It’s essential to consider factors such as earning potential, redemption options, credit requirements, foreign transaction fees, and travel perks when choosing a credit card.

By weighing these factors carefully, you can choose a credit card that best suits your needs and preferences. In this article, we’ve compared two popular credit cards – the Wells Fargo Autograph Card and the Bank of America Customized Cash Rewards credit card.

We’ve covered a range of topics including welcome bonuses, earning potential, annual fees, bonus categories, travel perks, foreign transaction fees, redemption options, credit requirements, and more. In this section, we’ll offer an overall comparison and provide answers to some frequently asked questions about both cards.

Overall Comparison

The Wells Fargo Autograph Card and the Bank of America Customized Cash Rewards credit card both offer attractive features and benefits that make them appealing to different types of customers. The Wells Fargo Autograph Card offers a generous welcome bonus, easy-to-use rewards program, no foreign transaction fees, and valuable travel perks.

The Bank of America Customized Cash Rewards credit card offers a range of bonus categories, a great rewards program, and an introductory APR offer.

Which Card to Choose

Choosing the right credit card depends on your individual needs, preferences, and spending habits. If you’re looking for a credit card with no foreign transaction fee, travel perks, and a variety of redemption options, the Wells Fargo Autograph Card may be the better choice for you.

However, if you’re looking for a credit card with a great rewards program, bonus categories, and an introductory APR offer, the Bank of America Customized Cash Rewards credit card may be a better fit.

FAQs

Eligible Grocery Stores and Gas Stations for Bank of America Cash Rewards

The Bank of America Customized Cash Rewards credit card allows you to earn 2% cash back at grocery stores and wholesale clubs. Eligible grocery stores include major chains such as Safeway, Kroger, and Whole Foods Market.

Wholesale clubs such as Costco, Sam’s Club, and BJ’s Wholesale Club are also eligible. To earn the 3% cash back on gas purchases with the Bank of America Customized Cash Rewards credit card, you can purchase gas from eligible gas stations.

Eligible gas stations are those that are classified as gas stations or service stations by merchant category codes (MCCs

Popular Posts