NEA Customized Cash Rewards Credit Card Review 2024 (2024)

• NEA Customized Cash Rewards Credit Card Introduction
• Quick Facts
• What Is the NEA Customized Cash Rewards Credit Card Best For?
• NEA Customized Cash Rewards Credit Card Rewards
• Introductory Rates
• Other NEA Customized Cash Rewards Credit Card Benefits
• Fine Print
• How the NEA Customized Cash Rewards Credit Card Stacks Up
• Is the NEA Customized Cash Rewards Credit Card for You?
• Methodology

The NEA® Customized Cash Rewards Credit Card* shares many of the same benefits with the Bank of America® Customized Cash Rewards credit card, including the ability to earn up to 3% in an eligible bonus category of your choosing. Available 3% bonus category choices include gas and EV charging stations, dining, travel and more.

You can also earn a $200 Amazon.com gift card after spending $500 in purchases within the first 90 days of account opening (students not eligible). The card comes with no annual fee and a 0% introductory APR for the first 15 billing cycles for purchases and balance transfers made within 60 days of account opening. After that, a 18.24% - 28.24% variable APR applies. There aren’t many other benefits, but if you spend on different categories throughout the year and can somewhat plan your spending, you can do well with the bonus cash back in several popular categories.

• No annual fee
• Earn 3% cash back in the category of your choice, automatic 2% cash back at grocery stores and wholesale clubs and unlimited 1% cash back on all other purchases
• Welcome bonus of a $200 Amazon.com gift card after spending $500 in purchases within the first 90 days of account opening (students not eligible)
• Low intro APR offer for purchases and balance transfers can help you with large purchases or debt paydown

There’s no difference between this and the regular version of the card, except the NEA® Customized Cash Rewards Credit Card* is NEA-branded and the welcome offer is an Amazon gift card instead of cash back. The minimum spending requirement is also lower—so if that’s a consideration, you can earn a bonus without spending as much.

With that in mind, this card is intended for educators who want to support the NEA and enjoy the card’s other benefits, including a low intro APR offer, no annual fee and cash rewards in the available spending categories. If you’d prefer a cash back welcome offer, the regular version is otherwise identical except for the card art on the physical card.

Earning Rewards

The NEA® Customized Cash Rewards Credit Card* has a tiered rewards system, where you’ll earn a different percentage of cash back depending on where you shop. You’ll earn 3% cash back in one eligible category of your choice. You can change your 3% category every month, or if you take no action, your category will remain the same. You can choose your 3% bonus category from the following options:

• Gas and EV charging stations
• Online shopping
• Cable, internet, phone plans and streaming
• Dining
• Travel
• Drug stores and pharmacies
• Home improvement and furnishings

You’ll also earn 2% cash back at grocery stores and wholesale clubs and 1% cash back on all other purchases. Note that the bonus 3% and 2% cash back is limited to $2,500 in combined spending per quarter. All spending in these categories above $2,500 per quarter will only earn 1% cash back.

The NEA Customized Cash Rewards card also comes with a welcome offer, though it is not tied into the rewards system. Instead, you’ll get a $200 Amazon.com gift card after spending $500 in purchases within the first 90 days of account opening (students not eligible). While an Amazon gift card is not quite the same as cash, some people will find it nearly as useful as a cash bonus.

Redeeming Rewards

You can redeem your rewards for statement credits, deposits made directly into a Bank of America checking or savings account, for credit to certain Merrill accounts or as a check. Note however that if you redeem rewards to Merrill accounts, Bank of America checking or savings accounts, there is a $25 minimum redemption amount. If you redeem for a statement credit, however, there is no minimum redemption amount. It’s also important to understand that your rewards will not expire as long as your account remains open.

Rewards Potential

Forbes Advisor uses data from various government agencies to determine both baseline income and spending averages across various categories. The 70th percentile of wage earners bring in $118,438 annually and spend $39,337, and we base our sample household spending on these numbers.

• Museums On Us. Get free general admission to more than 225 museums nationwide on the first weekend of every month.
• $0 Liability Guarantee. You’re protected against fraudulent transactions made with your card.
• FICO® Score. As a cardholder, you have access to your FICO® Score at any time with no cost.

Interest Rates

• Regular APR: 18.24% - 28.24% variable APR
• Purchase intro APR: 0% Intro APR for the first 15 billing cycles following account opening
• Balance transfer intro APR: 0% Intro APR for the first 15 billing cycles for transactions made within 60 days of account opening

Fees

• Annual fee: $0
• Balance transfer fee: 4% of the amount of each transaction
• Foreign purchase transaction fee: 3% of each transaction

NEA® Customized Cash Rewards Credit Card* vs. Bank of America® Customized Cash Rewards credit card

The NEA® Customized Cash Rewards Credit Card* is nearly identical to the Bank of America® Customized Cash Rewards credit card. The main difference is that the NEA Customized Cash Rewards is targeted toward educators and other members of the National Education Association. Both cards come with no annual fee and the ability to earn up to 3% in an eligible category of your choice.

The regular version offers a $200 online cash rewards bonus after spending $1,000 in purchases in the first 90 days of account opening. You can apply the bonus as a statement credit rather than receiving an Amazon gift card. The NEA-branded version also has a lower minimum spending requirement, which is helpful if you want to earn a welcome offer with less spending.

NEA® Customized Cash Rewards Credit Card* vs. Chase Freedom Unlimited®

The Chase Freedom Unlimited® card is another option with no annual fee. With the Freedom Unlimited, you’ll earn 5% cash back on travel purchased through Chase Travel℠, 3% cash back on eligible dining and drugstores and 1.5% on all other purchases, plus an additional 1.5% cash back on the first $20,000 in purchases the first year.

You might come out ahead with the NEA Customized Cash Rewards card if a majority of your spending is in a 3% bonus category and/or at grocery stores and wholesale clubs. But if your spending is spread around in multiple categories, the higher everyday cash back with the Freedom Unlimited card (1.5% vs. 1%) may make it the better choice.

NEA® Customized Cash Rewards Credit Card* vs. Citi Custom Cash® Card

The Citi Custom Cash® Card is another card that gives a high bonus amount for spending in one specific eligiblecategory. With the Custom Cash card, you’ll earn 5% cash back on purchases in a top eligible spend category up to the first $500 spent each billing cycle, 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2025 and 1% cash back on all other purchases.

You get a higher percentage of cash back and your eligible bonus category is chosen automatically, but that comes with the tradeoff of a lower maximum bonus spending threshold.

There’s also a $0 annual fee and a 0% introductory APR for 15 months from date of account opening on purchases and from date of first transfer for balance transfers completed within 4 months of account opening. After that, the variable APR will be 19.24% - 29.24%, based on creditworthiness. There is also a balance transfer fee of 5% of each balance transfer; $5 minimum.

If you want a card that offers a decent welcome offer as well as the ability to earn up to 3% on purchases in an eligible category of your choice, the NEA® Customized Cash Rewards Credit Card* may be an appealing choice.

It also comes with no annual fee and introductory APR offers on purchases and balance transfers. Plus, if you’re an educator, it’s a way that you can show your support for the NEA—and that’s the strongest reason to get this version of the card over the regular Bank of America® Customized Cash Rewards credit card.

Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including:

• Annual fees
• Welcome bonus offers
• Ongoing earning rates
• Value of individual points
• Included travel or merchant credits
• Additional cardholder benefits

Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors come together to provide a star rating for each individual card.

Read more: How Forbes Advisor rates credit cards