The Susan G. Komen® Customized Cash Rewards credit card offers a unique blend of financial rewards for cardholders and a meaningful contribution to a vital cause: breast cancer research and support. Issued by Bank of America, this card allows users to earn cash back on everyday spending while simultaneously supporting the Susan G. Komen® organization. It’s an appealing option for individuals who seek a flexible cash back rewards program and are passionate about contributing to breast cancer awareness and finding a cure. This comprehensive guide will delve into the essential features, benefits, potential drawbacks, and the straightforward process of applying for this purpose-driven credit card.
A Card with a Mission: Supporting Susan G. Komen®
At its core, the Susan G. Komen® Customized Cash Rewards credit card is designed to generate financial support for the Susan G. Komen® organization. Bank of America makes a financial contribution to Susan G. Komen® for every new account that is opened and activated, and continues to contribute based on eligible net retail purchases made with the card. This means that simply by using your card for everyday spending, you’re helping fund research, community health programs, and patient support services for those affected by breast cancer. For many, this charitable aspect adds significant value beyond the cash back rewards alone.
Customizing Your Cash Back: Earning and Redemption
The Susan G. Komen® Customized Cash Rewards credit card operates on the popular “Customized Cash Rewards” framework, allowing cardholders to tailor their earning categories to their spending habits, thereby maximizing their cash back potential.
Earning Rewards:
The card offers a flexible and competitive earning structure:
- 3% cash back in a category of your choice: This is the card’s signature feature. You can choose one category from a list of six options to earn 3% cash back. These categories typically include:
- Gas & EV Charging Stations
- Online Shopping (including Amazon, Walmart.com, etc.)
- Dining
- Travel (including airlines, hotels, car rentals, etc.)
- Drug Stores & Pharmacies
- Home Improvement & Furnishings
- You can change your chosen category once a month, which provides incredible flexibility to align your bonus earnings with your current spending patterns (e.g., switch to “Travel” for a vacation, then back to “Online Shopping” for holiday purchases).
- Important Note: The 3% and 2% cash back earning applies to the first $2,500 in combined choice category/dining/grocery store purchases each quarter. After this cap, spending in these categories earns 1% cash back.
- 2% cash back at grocery stores and wholesale clubs: This is a fixed bonus category, offering a solid return on essential household spending. This means if your 3% category is “Online Shopping,” you still get 2% back on your groceries.
- 1% cash back on all other eligible purchases: All other spending earns a base rate of 1% cash back, ensuring you’re always getting a return on your purchases, regardless of category.
Sign-Up Bonus:
Like many cash back credit cards, the Susan G. Komen® Customized Cash Rewards credit card typically comes with a sign-up bonus for new cardmembers. This usually involves earning a fixed cash bonus after meeting a specified spending requirement within the first few months of account opening. The specific bonus amount and spending threshold can vary, so it’s always advisable to check the latest offer on Bank of America’s official website when considering applying.
Redeeming Rewards:
The redemption process for the cash back earned with this card is straightforward and flexible:
- Cash Back: The most common redemption option. You can redeem your cash back as a statement credit, a direct deposit into a Bank of America checking or savings account, or a credit to an eligible Merrill Lynch® Cash Management Account® or 529 College Savings plan.
- Gift Cards: Redeem your cash back for gift cards from a variety of popular merchants.
- Travel Rewards: While primarily a cash back card, you can also redeem your cash back for travel through Bank of America’s travel portal.
Key Benefits and Features
Beyond its cash back earning and charitable contributions, the Susan G. Komen® Customized Cash Rewards credit card offers a number of additional benefits that enhance its value:
- No Annual Fee: This is a major advantage, allowing you to earn valuable rewards and support a cause without an ongoing cost. This makes it an excellent long-term card to keep in your wallet.
- Introductory APR Offer: New cardmembers often receive an introductory 0% APR on purchases and balance transfers for a set period (e.g., 15 or 18 months). This can be a useful feature if you need to finance a large purchase or consolidate existing debt, provided you pay off the balance before the introductory period ends and the standard APR applies.
- Bank of America Preferred Rewards Program: If you have an existing banking relationship with Bank of America or Merrill, you can boost your cash back earnings through the Preferred Rewards program. By maintaining certain balance tiers across your eligible Bank of America and Merrill accounts, you can earn 25% to 75% more cash back on every purchase. For example, a Platinum Honors member (with $100,000+ in balances) would earn 5.25% (3% + 75% bonus) in their chosen category, 3.5% (2% + 75% bonus) on groceries/wholesale clubs, and 1.75% (1% + 75% bonus) on all other spending – significantly increasing the card’s value.
- Fraud Protection: Bank of America offers various fraud protection measures, including $0 Liability Guarantee for unauthorized transactions, chip technology for enhanced security, and continuous fraud monitoring.
- Account Alerts: Receive customizable alerts via email or text for various account activities, helping you stay informed about your spending and account security.
- Digital Wallet Compatibility: Easily add your card to popular digital wallets like Apple Pay®, Google Pay™, and Samsung Pay for convenient and secure mobile payments.
- Online and Mobile Banking: Manage your account 24/7 through Bank of America’s robust online banking platform and highly-rated mobile app, allowing you to view statements, make payments, and redeem rewards on the go.
Potential Drawbacks
While the Susan G. Komen® Customized Cash Rewards credit card offers significant value, it’s important to consider a few potential limitations:
- Cash Back Cap: The 3% and 2% bonus categories are capped at $2,500 in combined spending per quarter. For very high spenders in these categories, this cap might be reached quickly, reducing subsequent earnings to 1% for the remainder of the quarter.
- Foreign Transaction Fees: The card typically charges foreign transaction fees (usually around 3%). This means it’s generally not the best card to use for purchases made outside the U.S. or with international online merchants, as these fees can offset your cash back earnings.
- No Premium Travel Perks: As a cash back card, it doesn’t offer premium travel benefits like airport lounge access, travel insurance (beyond basic coverage), or primary car rental insurance that some travel-focused cards provide.
Is the Susan G. Komen® Customized Cash Rewards Credit Card Right for You?
This card is an excellent choice for individuals who:
- Want to support breast cancer research and awareness: The charitable contribution tied to card usage is a strong motivator for many.
- Prefer flexible cash back rewards: The ability to choose your 3% bonus category each month allows you to maximize earnings based on your current spending.
- Frequently spend on groceries, gas, dining, or online shopping: These are common high-spend categories where the card excels.
- Are existing Bank of America or Merrill customers: The Preferred Rewards program can significantly amplify the card’s earning potential, making it exceptionally rewarding for those with eligible balances.
- Are looking for a reliable, no-annual-fee credit card for everyday use.
How to Apply for the Susan G. Komen® Customized Cash Rewards Credit Card in English
Applying for the Susan G. Komen® Customized Cash Rewards credit card, issued by Bank of America, is a straightforward online process. Here’s a general guide:
- Check Your Credit Score: Before applying, it’s highly recommended to check your credit score. The Susan G. Komen® Customized Cash Rewards card typically requires good to excellent credit (generally FICO scores of 670 or higher). While a good score doesn’t guarantee approval, a low score will likely result in denial. You can obtain free credit reports from AnnualCreditReport.com and many credit card issuers or financial institutions offer free FICO score access.
- Visit the Official Bank of America Website: The safest and most direct way to apply is to visit the official Bank of America website. Be cautious of unverified third-party websites.
- Navigate to the “Credit Cards” section.
- Look for “Cash Back” cards or specifically search for “Susan G. Komen® Customized Cash Rewards.” You might also find it listed under “Cards for a Cause” or similar categories.
- Review the Current Offer: On the card’s product page, carefully read through the most current sign-up bonus, earning rates, introductory APR offers, and all other terms and conditions. Offers can change, so always ensure you’re looking at the latest information directly from Bank of America.
- Click “Apply Now”: Once you’re ready and have understood the terms, click on the “Apply Now” or “Apply for this Card” button.
- Complete the Online Application Form: You will be prompted to fill out a secure online application form. Be prepared to provide the following information accurately:
- Personal Information: Your full legal name, date of birth, Social Security Number (SSN), current mailing address, email address, and phone number.
- Financial Information: Your total annual income (this can be individual or household income), employment status (employed, self-employed, retired, etc.), and your monthly housing payment (rent or mortgage).
- Security Questions: You may be asked security questions to verify your identity.
- Review and Submit: Before submitting, carefully review all the information you’ve entered to ensure accuracy. Any errors could delay your application or lead to a denial. Once you’re confident, confirm you have read and agree to the terms and conditions, then click the “Submit” button.
- Application Decision:
- Instant Approval: In many cases, you might receive an instant approval decision on screen.
- Pending Review: If your application requires further review, you’ll see a message indicating that Bank of America needs more time. You may receive a decision within a few business days, or Bank of America might contact you for additional information via mail or phone.
- Denied: If your application is denied, Bank of America will send you a letter explaining the reasons for the denial within a certain timeframe. If you believe there was a mistake or you have additional information to provide, you can call their reconsideration line to discuss your application.
- Receive Your Card: If approved, you will receive your new Susan G. Komen® Customized Cash Rewards credit card and a welcome kit in the mail, typically within 7-10 business days. This kit will include important information about your card, benefits, and how to activate it.
Important Considerations Before Applying:
- Credit History: Ensure you have a solid credit history with no recent bankruptcies, foreclosures, or a high number of late payments.
- Income: While there’s no specific income requirement, Bank of America will assess your ability to repay debt based on your reported income.
- Relationship with Bank of America: If you are an existing Bank of America customer, it might streamline the application process and potentially open doors to higher credit limits or Preferred Rewards benefits.
By understanding the unique blend of flexible cash back and meaningful charitable contribution, you can confidently determine if the Susan G. Komen® Customized Cash Rewards credit card aligns with your financial goals and your desire to support a critical cause.
