The news: Bank of America enhanced its cash-back rewards for the Customized Cash Rewards and Unlimited Cash Rewards credit cards, per a press release.

New BofA Customized Cash Rewards cardholders will earn double cash back—6%—in the category of their choice for their first year. Unlimited Cash Rewards cardholders will receive 2% cash back on all purchases.

Why dangle the carrot: BofA posted solid 2025 Q1 results, outstripping analyst predictions with revenues totalling $27.4 billion. The bank added roughly 1 million new credit cardholders.

But CEO Brian Moynihan expressed caution about the economy moving forward, stating economists are “all predicting a slowdown in growth.”

Offering competitive rewards now could coax more cautious customers into Bank of America cardholdership and keep transaction volume up if an economic slowdown puts a drag on consumer spending.

Strong rewards could help BofA attract more of the superprime consumers the bank has made a key share of its cardholders: The average credit score rating of its cardholders hovers around 770.