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University of Miami Customized Cash Rewards Credit Card

Cory Santos

| Last updated on November 23rd, 2023

University of Miami Customized Cash Rewards Credit Card

University of Miami Customized Cash Rewards Credit Card
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BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Excellent / Good
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None Annual Fee

University of Miami Customized Cash Rewards Credit Card

  • 18.24% to 28.24% variable based on creditworthiness and Prime Rate Regular Purchase APR
  • 18.24% to 28.24% variable based on creditworthiness and Prime Rate Balance Transfer APR
  • 21.24% to 30.24% variable based on the Prime Rate Cash Advance APR
  • 0% for 18 months following the opening of your account Intro Purchase APR

At a Glance

The University of Miami Customized Cash Rewards Credit Card is a cash back credit card that lets UM 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.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • 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 18 months following the opening of your account
  • Regular Purchase APR: 18.24% to 28.24% variable based on creditworthiness and Prime Rate
  • Intro Balance Transfer APR: 0% for 18 months on transfers made within 60 days of opening your account
  • Balance Transfer APR: 18.24% to 28.24% variable based on creditworthiness and Prime Rate
  • Balance Transfer Transaction Fee: Either $10 or 5% of the amount of each transaction, whichever is greater
  • Cash Advance APR: 21.24% to 30.24% variable based on 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 transactio
  • Late Payment Penalty Fee: Up to $40
  • You want the ability to choose your bonus cash back categories
  • You spend heavily on groceries
  • You already bank with Bank of America
  • You're a University of Miami alumnus
University of Miami Customized Cash Rewards Credit Card

University of Miami Customized Cash Rewards Credit Card

Terms & Conditions

University of Miami Customized Cash Rewards Credit Card Review

The University of Miami Customized Cash Rewards Credit Card is a no annual fee credit card from Bank of America that allows alumni of the U to show their Hurricanes pride with every purchase.

How to Earn Cash Back Rewards

The UM Card acts in much the same way as the non-co-branded Bank of America® Customized Cash Rewards Credit Card. Like the version for Miami alumni, that card earns cash back on various bonus categories – including 3% back on the cardholder’s preferred top spending category.

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:

  • Gas
  • Online shopping
  • Travel
  • Dining
  • 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 UM 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 UM 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 UM 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 Features

Other notable features of the UM 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 University of Miami Customized Cash Rewards Credit Card from Bank of America?

The University of Miami Customized Cash Rewards Credit Card provides all the basic Customized Cash Rewards from Bank of America, but with the added sizzle of the South Florida sun. The card provides U alumni with up to 3% back.

While the card is useful for anyone looking to show their Miami Hurricanes 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.

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