Bank of America® Customized Cash Rewards

This card is worth a look if you want a no-annual-fee cash back card that can do better than a flat 1% card in the area where you spend the most. Its appeal is simple: you get some control over where your higher rewards go, which makes it a practical fit for online shoppers or for someone who regularly spends in a category like gas or dining.

The tradeoff is that this is still a category card, not a do-everything wallet anchor. If you do not want to track spending categories, or if most of your purchases fall outside the bonus area, the value drops quickly because the base earning rate is only 1%. For the right spender, though, it is an easy no-fee card to keep in rotation.