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Last updated on January 17th, 2022
NYUAA Customized Cash Rewards Credit Card
$200 Online Cash Rewards Bonus Offer
- Regular Purchase APR 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 16.99% to 28.99% variable based on creditworthiness and the Prime Rate
- Annual Fee None
- Credit Needed Excellent , Good
- Intro Purchase APR 0% for 15 months
- Processing Network Visa
- No annual fee
- Earn 3% cash back in the category of your choice, like online shopping
- Earn 2% cash back at grocery stores and wholesale clubs
- Earn 1% cash back on all other purchases
- Intro Purchase APR: 0% for 15 months
- Regular Purchase APR: 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 15 months
- Balance Transfer APR: 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 5% of the amount of each transaction, whichever is greater
- Cash Advance APR: 16.99% to 28.99% variable based on creditworthiness and the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 3% of the amount of each transaction, whichever is greater
- Penalty APR: Up to 29.99% variable based on creditworthiness
- Foreign Transaction Fee: 3% of the U.S. dollar amount of each transaction
- Late Payment Penalty Fee: Up to $40
At a Glance
The NYU Alumni Association (NYUAA) Customized Cash Rewards Credit Card is a cash back credit card that lets NYU alumni show their pride anywhere they pay with Visa. The card, from Bank of America, features up to 3% cash back on the category of the cardholder’s choosing, plus 2% back on wholesale clubs and groceries, and more.
Ideal for Those Who:
- Want the ability to choose their bonus cash back categories
- Spend heavily on groceries
- Already bank with Bank of America
- Are an NYU alumnus
NYUAA Customized Cash Rewards Credit Card Review
The New York University Alumni Association (NYUAA) Customized Cash Rewards Credit Card is a no annual fee credit card from Bank of America that allows alumni of New York University to show their Violet pride with every purchase.
How to Earn Cash Back Rewards
The NYUAA Customized Cash Card acts in much the same way as the non-co-branded Bank of America® Customized Cash Rewards Credit Card. That card earns cash back on various bonus categories – including 3% back on the cardholder’s preferred top spending category.
Like the Bank of America branded version, NYUAA cardholders earn 3% cash back on their chosen category, with the option to select a new category for future purchases once a month. Those 3% back categories are:
- Online shopping
- Drug stores
- Home improvement
Cardholders earn 2% back at grocery stores and wholesale clubs, plus 1% cash back on all other purchases. Rewards in the 3% and 2% categories are limited to $2,500 per quarter, though reaching this threshold would require significant spending. In this regards the card is somewhat of a competitor for the impressive Chase Freedom Unlimited (or even the Freedom Flex).
$200 Welcome Bonus
New NYUAA Customized Cash Cardholders receive the same online cash rewards welcome bonus as the basic Bank of America Customized Cash Card. New accounts can earn a $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening.
Earn Even More with Preferred Rewards
Bank of America tailors its credit cards towards those who already have accounts with the brand. Preferred Rewards provides customers the opportunity to maximize their cash back with up to 75% more cash back on purchases.
Preferred Rewards members can earn between 25% and 75% more rewards on purchases, depending on their tier. This enhanced value means that NYU credit cardholders could earn up to 3.5% back on their customized cash bonus categories!
Eligibility for a Preferred Rewards membership breaks down into three tiers. Note that the level you qualify for depends on your combined Bank of America and Merrill investment account balances, which can change over time.
How to Redeem Cash Back
Redeeming rewards with the NYU Alumni Customized Cash Rewards Credit Card is straightforward. Cardholders can apply their rewards towards statement credits, deposits into their Bank of America savings or checking account, or credits towards an eligible Merrill investment account.
Other notable features of the NYUAA Customized Cash Rewards Card include:
- No annual fee
- Travel Cancellation/Interruption Insurance
- Zero Fraud Liability
- Extended Protection/Extended Warranty
- Complimentary FICO score access each month
- EMV chip and contactless payment technology
- Mobile wallet compatibility with Apple Pay, Google Pay, Samsung Pay, and more
Should You Apply for the New York University Alumni Association (NYUAA) Customized Cash Rewards Credit Card from Bank of America?
The NYUAA Customized Cash Rewards Credit Card provides all the basic Customized Cash Rewards from Bank of America, but with the added spark of the Big Apple. The card provides NYU alumni with up to 3% back.
While the card is useful for anyone looking to show their Violet pride, Bank of America Preferred Rewards customers will get the most value from the card thanks to up to 75% more rewards with every purchase. Even the basic tier offers 25% more, meaning cardholders can earn 1.25% to 1.75% on all purchases with the card outside of bonus categories – that’s more cash back than most flat-rate cash back cards.