Award System
Bank of America
Max. Point Value 0.00 ¢
Do Points Expire? No
The Highlights
Bank of America Travel Rewards is a low tier program in the points and miles hobby:
- There are one or two cards worth getting, but only in the right situations
- Having an existing relationship with the bank or needing a break from the big credit card issuers are the main reasons you might want to get into this system
- Redeeming rewards is simple and straightforward, but you’ll only earn 1 cent per point at best
- Many cards only offer cash back rewards
- Its lack of any transfer partners puts this system near the bottom of our rankings
How to Redeem
There are a few ways to redeem points with Bank of America, and some are better than others.
Bank of America Travel Portal or Covering Travel Purchases
- You can redeem points earned from Travel Rewards cards for a statement credit to cover travel purchases made through the Bank of America Travel Center.
- Depending on the card you have, you may also receive a statement credit for any qualifying travel purchase made outside the portal.
- The Bank of America Travel Rewards credit card also allows redemptions for dining purchases.
What You Shouldn’t Do
- Redeem for cash back or direct deposit: This yields just 0.006 dollars per point. Redeeming toward travel purchases provides nearly double the value.
- Bank of America has a broad definition of travel, which includes things like zoo tickets, amusement parks, hotels, and airfare.
- Redeem for gift cards: Gift cards generally offer an even worse redemption value than cash back, so this option is best avoided.
What to Know Before Canceling
If you plan to cancel a Bank of America credit card, make sure you’ve either used all your rewards or have an eligible Bank of America card to transfer those points to. If not, you will also lose any points you have earned.
Ranking of Cards Offering Bank of America
Breaking Points
