For qualifying pharmacy purchases, Bank of America® Customized Cash Rewards’ 6% first-year rate can beat an unlimited 3% drugstore card, even with BofA’s $2,500 quarterly spend cap. BofA Rewards members can potentially increase the cash back rate to 6.3% to 8.25%.
When Drug Stores and Pharmacies is selected, eligible new Customized Cash Rewards cardholders earn 6% cash back during the first year after account opening—the standard 3% choice-category rate plus a separate 3% first-year bonus—while Chase Freedom Unlimited® earns 3% on qualifying drugstore purchases.
If you carry both cards, the strategy is simple: use BofA for the higher rate while the spend cap is available, then switch additional qualifying drugstore spending to Chase Freedom Unlimited at 3%.
According to BLS, U.S. drug spending—not total drugstore spending—averaged $658 per consumer unit in 2024, or about $165 per quarter, far below BofA’s shared $2,500 quarterly spend cap.
Rewards terms and availability checked . Comparisons cover pharmacy purchase rewards, including BofA’s first-year promotional rate, but exclude one-time welcome bonuses, interest, fees, and rewards on other spending.
Have both cards? Use BofA for 6% up to the quarterly spend cap, then Chase at 3%
Within the available $2,500 quarterly spend cap, Bank of America Customized Cash Rewards earns 6% in the Drug Stores and Pharmacies category during the first year—twice Chase Freedom Unlimited's 3% drugstore rate.
| Quarterly qualifying pharmacy spending | Cash back at BofA’s 6% | Cash back at Chase’s 3% | BofA advantage |
|---|---|---|---|
| $500 | $30 | $15 | $15 |
| $1,500 | $90 | $45 | $45 |
| $2,500 | $150 | $75 | $75 |
Wise Bread calculations using Bank of America’s published rates and Chase’s published rates. Assumes no BofA Rewards relationship bonus, the full $2,500 quarterly spend cap is available, Drug Stores and Pharmacies is selected, and all transactions qualify.
At $2,500 of qualifying pharmacy spending, BofA earns $150 versus $75 with Chase—a $75 advantage per quarter.
If you reach BofA's quarterly spend cap and carry both cards, switch additional qualifying drugstore purchases to Chase's unlimited 3% drugstore rate rather than earning BofA's lower base rate.
Which card earns more if you use only one—BofA or Chase?
During BofA’s first-year offer, Bank of America Customized Cash Rewards earns more than Chase Freedom Unlimited below $6,250 in qualifying pharmacy spending per quarter—not just below BofA’s $2,500 cap. This assumes the full shared cap is available and no relationship bonus applies.
| Quarterly qualifying pharmacy spending | Card earning more during BofA’s first year | Why |
|---|---|---|
| Up to $2,500 | BofA | BofA earns 6%; Chase earns 3%. |
| Over $2,500 but below $6,250 | BofA | Higher pre-cap rewards keep BofA ahead despite its 1% post-cap rate. |
| $6,250 | Tie | Both earn $187.50. |
| Over $6,250 | Chase | Its unlimited 3% produces more total pharmacy cash back. |
At the $6,250 break-even point:
BofA: $2,500 × 6% + $3,750 × 1% = $187.50
Chase: $6,250 × 3% = $187.50
Less cap available? Without a relationship bonus, the first-year break-even equals 2.5 × the cap available for pharmacy spending. If eligible grocery and wholesale-club spending leaves $1,000, the cards tie at $2,500.
After the first year: Without a relationship bonus, the cards tie at 3% within BofA’s available cap, and Chase earns more above it. BofA Rewards members can earn 3.3%–5.25% within the cap.
Wise Bread calculations using issuer-published rates. Assumes Drug Stores and Pharmacies is selected and purchases qualify for both cards’ drugstore rates. Excludes rewards on other spending.
What counts as a pharmacy purchase?
For BofA rewards, the merchant category—not the item you buy—generally determines whether a purchase earns the Drug Stores and Pharmacies rate.
BofA says its Drug Stores category includes drugstores and pharmacies, with CVS, Rite Aid, and Walgreens among its examples. That means eligible non-drug purchases at a qualifying drugstore can earn the same rate as prescriptions—including 6% during the first year, or up to 8.25% with the highest BofA Rewards relationship bonus, within the shared quarterly cap.
The reverse can also be true: a prescription isn't necessarily a drugstore purchase. Chase, for example, excludes warehouse clubs, discount stores, and grocery stores with onsite pharmacies from its drugstore category. For BofA, an embedded-pharmacy transaction that instead qualifies as an eligible grocery-store or wholesale-club purchase can earn the card's 2% rate within the shared quarterly cap, before relationship bonuses.
Our CVS tests: Non-drug purchases classified as drugstores
In Wise Bread’s September 2026 tests, BofA classified both a CVS.com pickup order and an in-store CVS purchase containing no medication as “DRUG STORES, PHARMACIES.” The receipts and matching transaction details below document the items purchased and BofA’s classifications.
CVS.com: Stain-remover pens ordered online for pickup
CVS store: Chips, reading glasses, and coffee purchased in person
These results apply to the two transactions tested.
BofA Rewards can increase pharmacy cash back to 8.25%
BofA Rewards requires an eligible BofA personal checking account but no minimum balance to enroll.
Members currently receive a 10%, 25%, 50%, or 75% bonus on eligible credit-card rewards depending on relationship tier. On the Customized Cash Rewards card, that can increase the standard 3% choice-category rate to as much as 5.25%.
Bank of America says the separate 3% first-year cash-back bonus does not receive the BofA Rewards bonus. That promotional 3% is instead added to the relationship-adjusted standard rate.
Pharmacy cash-back rates by BofA Rewards relationship bonus
| BofA Rewards relationship bonus | First-year rate within quarterly spend cap | Ongoing rate within quarterly spend cap |
|---|---|---|
| None (0%) | 6.00% | 3.00% |
| Member (10%) | 6.30% | 3.30% |
| Preferred Plus (25%) | 6.75% | 3.75% |
| Preferred Honors (50%) | 7.50% | 4.50% |
| Premier (75%) | 8.25% | 5.25% |
For a Premier member, the first-year calculation is:
3% choice-category rate + (3% × 75% relationship bonus) + 3% first-year bonus = 8.25%
Wise Bread calculations based on Bank of America’s published BofA Rewards rates and first-year promotional structure. Assumes Drug Stores and Pharmacies is selected and the applicable quarterly spend cap remains available. The standard threshold for BofA’s Premier tier is a $1 million combined three-month average balance across eligible BofA deposit and Merrill investment accounts.
How BofA’s shared $2,500 quarterly spend cap works
BofA’s $2,500 quarterly spend cap covers combined eligible purchases in the selected choice category and at grocery stores and wholesale clubs—not pharmacy spending alone.
For example, $1,500 in eligible grocery and wholesale-club spending leaves $1,000 for qualifying pharmacy purchases. With Drug Stores and Pharmacies selected, that earns $60 at BofA’s first-year 6% cash back rate versus $30 with Chase at 3%.
After the quarterly spend cap is reached, additional purchases earn BofA’s 1% base rate before relationship bonuses until the next calendar quarter. Return to BofA when a new quarterly spend cap becomes available, provided the first-year offer remains active and the drugstore category stays selected.
Wise Bread calculations. Assumes the first-year offer remains active, purchases qualify, no other spending has used the quarterly spend cap, and no relationship bonus applies.
Frequently asked questions
How does BofA's $2,500 quarterly spend cap compare with average drug spending?
BofA’s full $2,500 quarterly spend cap is roughly 15 times average quarterly drug spending per U.S. consumer unit. BLS data show that U.S. consumer units spent an average of $658 on drugs in 2024, or about $165 per quarter.
However, BofA's quarterly spend cap is shared across eligible choice-category, grocery-store, and wholesale-club purchases, and BLS measures drug spending rather than total spending at drugstore merchants.
Does BofA earn 8.25% at pharmacies?
Potentially. Premier-tier BofA Rewards members can earn a calculated 8.25% first-year cash-back rate with Bank of America Customized Cash Rewards when Drug Stores and Pharmacies is selected and qualifying purchases fall within the available shared $2,500 quarterly spend cap.
Is the BofA spend cap $10,000 per year?
No. BofA's spend cap is $2,500 per quarter, not $10,000 per year. The spend cap covers combined eligible purchases in the selected choice category and at grocery stores and wholesale clubs. Four full quarterly spend caps add up to $10,000, but the published limit applies separately each quarter.
Do prescriptions and pharmacy copays earn drugstore rewards?
They can. What matters is how the merchant is categorized, not whether you’re paying for a prescription or copay. If the transaction is categorized as a drugstore or pharmacy purchase, it can earn the drugstore rewards rate.
Do Walmart, Costco, and grocery-store pharmacies count as drugstores?
Not automatically. Buying a prescription at a store with a pharmacy does not establish its rewards category. Chase excludes warehouse clubs, discount stores, and grocery stores with onsite pharmacies; BofA applies its merchant-category rules.
Do online pharmacies count as drugstores?
Yes. BofA classified our tested CVS.com order for in-store pickup as a drugstore/pharmacy transaction, even though we purchased stain-remover pens rather than medication. The transaction was also marked “Online Purchase: Y.” See our CVS test receipts and transaction details above.
Is Citi Custom Cash available to new applicants?
No. Citi stopped accepting new Citi Custom Cash applications on May 28, 2026. Existing cardholders can continue using the card and its benefits. (Citi)
Bottom line
For qualifying pharmacy purchases within the available quarterly spend cap, Bank of America Customized Cash Rewards' 6% first-year rate earns twice as much as Chase Freedom Unlimited's 3% drugstore rate.
BofA’s full $2,500 quarterly spend cap is also roughly 15 times average quarterly drug spending per U.S. consumer unit, based on 2024 BLS data, although it is shared with eligible grocery-store and wholesale-club purchases.
For cardholders with both cards during BofA’s first-year offer: BofA first, Chase after the shared quarterly spend cap.
