Comparison

Bank of America Customized Cash Rewards vs. Capital One Walmart Rewards® Mastercard®: card comparison

See our review and compare the Bank of America Customized Cash Rewards and Capital One Walmart Rewards® Mastercard® to find out which one is best for you based on your shopping habits.

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by Aline Barbosa

04/04/2022 | Updated on 07/26/2022

Bank of America Customized Cash Rewards or Capital One Walmart Rewards® Mastercard®: which is the best?

Bank of America and Capital One Walmart cards
Which card is better? Source: The Mad Capitalist.

If you are looking for a new credit card, the Bank of America Customized Cash Rewards or Capital One Walmart Rewards® Mastercard® may be two of the best options available. They both offer rewards for spending, but there are some important differences that you should know about before making your decision.

This article will compare and contrast both products to help you choose the right one for you! Keep reading to learn their main features, what they can add to your everyday life, and some of the disadvantages they have.

bank of america

How do you get the Bank of America Customized Card

Learn how to apply for the Bank of America Customized Cash Rewards card and get yourself a credit card with a rewards program that you can tailor to your spending habits.

Capital One® Walmart Rewards credit card

Capital One Walmart Rewards® Mastercard®

Learn the application process for the Capital One Walmart Rewards® Mastercard® and start earning on all your spending!

Bank of America Customized Cash RewardsCapital One Walmart Rewards® Mastercard®
Sign-up bonus$200 online cash rewards after at least $1000 in purchases within the first 90 days of opening the account5% cash back in Walmart stores by paying via Walmart Pay for the first 12 months.
Annual fee$0$0.
Rewards3% cashback on gas, online shopping, drugstores, travel, and more;
2% cashback on groceries and wholesale clubs
5% cash back at Walmart’s e-commerce;
2% cash back in-store purchases;
2% cashback at travel and dining;
1% cash back in all other purchases.
Other perksOption to swap cash back categories;0% APR Intro.No foreign transaction fee;Flexible redemptions.
APR13.99% – 23.99% (variable)17.99% – 26.99% (variable).

Bank of America Customized Cash Rewards

Computer with Bank of America logo
Meet the Bank of America Customized Cash Rewards card. Source: Adobe Stock.

Bank of America has always been a frontrunner when it comes to customer-centric products and services. That is why their Customized Cash Rewards credit card is one of the most competitive cards in the market.

This card allows you to choose how to redeem your cash back points according to your personal needs, which is a huge plus for many consumers. Additionally, Bank of America often offers no introductory APR rates and no annual fees, making this card even more attractive for new cardholders.

The sign-up bonus provides a $200 online cash reward after merely $1000 spent within the first three months of card membership. You can swap the rewards categories once a month to maximize your earnings, and Preferred Members can get up to 75% more cash back on their daily spending.

To qualify for this card, you need a credit score between good and excellent. The Bank of America Customized Cash Rewards credit card comes with a Visa signature and has worldwide acceptance. However, it charges a 3% foreign fee on international purchases.

Before applying for this product, see some of its perks and benefits below. 

Benefits

  • No annual fee;
  • Rewards never expire;
  • Customizable redemptions;
  • No introductory APR for balance transfers;
  • 3% cash back on online shopping, gas, travel and more;
  • 2% cash back on groceries and wholesale clubs.

Disadvantages

  • $2500 spending caps on both 3% and 2% categories;
  • 3% foreign transaction fee;

Capital One Walmart Rewards® Mastercard®

Capital One® Walmart Rewards credit cards
Meet the Capital One Walmart Rewards® Mastercard®. Source: The Mad Capitalist.

The Capital One Walmart Rewards® Mastercard® is the perfect companion for your everyday shopping needs. With no annual fee and international coverage by Mastercard, this card is a great option for anyone looking for a reliable way to pay for their purchases both in the U.S. and abroad.

You can earn up to 5% cash back on online and mobile purchases at Walmart, 2% back on in-store shopping, 2% on dining and travel, and 1% on all other eligible purchases. So whether you’re grocery shopping, picking up some clothes from Walmart.com, or traveling overseas, this card has you covered!

To get the card, your credit score must be above 690. There is no 0% introductory APR for new customers and the ongoing variable rate is 17.99% variable. The sign-up bonus is a 5% return for in-store shopping on the first 12 months of card membership.

All earned cash back is redeemable through Walmart discounts, statement credits, gift cards, and travel bookings through Capital One. 

It’s important to understand the benefits and drawbacks to this credit card before sending in an application. Keep reading to see what they are. 

Benefits

  • No annual fee;
  • No foreign transaction fees;
  • 5% cash back at Walmart’s website and app;
  • 2% cash back at in-store shopping;
  • 1% cash back on all other purchases;
  • Flexible redemption options;

Disadvantages 

  • Not profitable for non-Walmart shoppers;
  • No 0% introductory APR for new cardholders;
  • No free shipping for online purchases;

Bank of America Customized Cash Rewards or Capital One Walmart Rewards® Mastercard®: which you should choose?

Now that you know all about their features and benefits, you can make an informed decision and choose between the Bank of America Customized Cash Rewards or Capital One Walmart Rewards® Mastercard®. 

The Bank of America Customized Cash Rewards card offers a 3% cash back rate on rotating categories you use daily. You can choose to receive your cash back as a statement credit, deposited into a Bank of America checking or savings account, or used to purchase gift cards. There is no annual fee for this card.

The Capital One Walmart Rewards® Mastercard® offers 5% cash back on all online Walmart purchases, and 1% return on all other purchases. There is no annual fee for this card, and you can redeem your rewards for cash back, statement credits, or gift cards.

Choosing the right card really depends on how you plan to use it. If you want a card that offers a flat rate of cash back on all purchases, then the Bank of America Customized Cash Rewards card is a good option. If you mainly plan to use your card at Walmart USA stores, then the Capital One Walmart Rewards® Mastercard® is a better choice.

And if you feel like neither option is appropriate for your financial needs, we have a third alternative for you! The Citi® Double Cash Card offers a 2% cash back rate on every purchase (1% when you buy, and 1% when you pay).

There’s no annual fee to the card, and it’s a very easy-to-use product for your everyday spending. Check the link below for its full review and see everything that the Citi® Double Cash Card can do for you!

city double cash credit card

Citi® Double Cash Card review

Check the complete review for the Citi® Double Cash Card. See what are its main features, as well as its perks and drawbacks.

About the author

Aline Barbosa

Aline Barbosa is an editor, writer and learning-enthusiast. Passionate about music, books and human behavior. Curious about the unknown. Believer that learning is a life-long process.

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