Monday, May 20, 2024

How To Redeem Bank Of America Travel Rewards Points

Bank of America’s travel rewards programs let you earn points on spending that can be redeemed for flights, hotels, cruises, and more. By strategically using Bank of America credit cards and banking rewards, you can rack up points to defray travel costs. This article will teach you how to maximize earnings and redemptions to make the most of Bank of America travel rewards points for your next vacation.


Best Bofa Travel Rewards Points Card

When it comes to earning Bank of America travel rewards points, you’ve got a few solid credit card options. The main two are the Bank of America Travel Rewards Card and the Premium Rewards Credit Card. Bank of America also offers the Premium Rewards Elite Card for high earners and a student version of the regular travel rewards card.

In my opinion, the Bank of America Travel Rewards Card is one of the best for frequent travelers who don’t want to pay an annual fee. Here’s why it’s a great deal:

You earn an unlimited 1.5 points for every dollar spent, with no categories to keep track of. As long as your account stays open, your points never expire. You can redeem them for statement credits to offset purchases made on travel and restaurants. There are no foreign transaction fees, so it’s easy to use internationally. And last but certainly not least – no annual fee!

When you add up all those perks, it’s a top-notch card for racking up points on the go without weighing down your wallet. The flexibility and simple earning structure makes travel rewards easy breezy.


How To Redeem Bank Of America Travel Rewards Points

bank of america travel rewards points

Redeeming your hard-earned Bank of America travel rewards points is easy and flexible. You’ve got a few options:

  • Sign into your account online or through the BofA app to redeem points for statement credits. This offsets travel purchases from the last 12 months.
  • Call the rewards center at 888-268-7800. The agents can help redeem points for credits or other options.
  • Trade points for gift cards to many popular retailers.
  • Get cash back deposited into your BofA account or by paper check.

With the Bank of America Travel Rewards Card, you get at least 1.5 points per dollar spent. So those rewards can really add up quickly! Between the generous earning rate and redemption flexibility, you can offset plenty of vacation costs and travel expenses.

The key things to note are that you can wipe out travel charges from the past year and move points where needed. Whether you want statement credits, gift cards, or cold hard cash, Bank of America gives you options to use rewards your way.


How to Online Redeem Bofa Travel Rewards Points

To Redeem Bofa Travel Rewards Points online is a very simple process, just follow these points below –

1. Log into your Bank of America account online
2. Access your Travel Rewards credit card account
3. Click the “Rewards” tab
4. Browse available options and redeem points

Frequent travelers can easily wipe out travel purchases with points. Here’s how it works:

First, book travel through the BofA Travel Center to earn 3x points per $1 spent. Two days later, redeem those points back as a statement credit for that purchase. You’ll need at least 2,500 points, valued at $25 in travel credits.

Alternatively, cash out points for cold hard cash once you hit 2,500 points, valued at $15 back. Or hang onto 3,125+ points to redeem for gift cards instead.

So while you can’t directly use points to book all travel, you can essentially erase recent eligible travel charges or score other rewards. It’s super convenient for frequent travelers bank with Bank of America.


Where To Redeem Bank Of America Travel Rewards Points –

The Bank of America Travel Rewards card offers an incredibly flexible program when it comes time to redeem points. You can offset way more than just generic flights and hotels. BofA actually defines “travel” very broadly.

Eligible travel that your points can wipe out includes:

  • Hotels
  • Boat rentals
  • Amusement parks
  • Museums and art galleries
  • Cruises
  • Zoos and tourist attractions
  • Airbnb stays
  • Plane tickets

There are never any blackout dates or complicated redemption rules. As long as there’s a travel or entertainment charge from the last 12 months on your statement, points can make it disappear.

So don’t just save up your Bank of America rewards for basic flights and accommodation. You can redeem for tours, entertainment, experiences, vacation rentals, and much more. It’s a very flexible program for making travel more affordable.

The next time you swipe that card at an amusement park, concert, or other entertainment venue, know that you could offset it later with those rewards points.


How much is the value of Bank of America rewards points:

Not all Bank of America rewards points are created equal. Their cash value depends on which credit card earns them and how you choose to redeem them. Here is what each point is typically worth:

With the Bank of America Travel Rewards Card:

  • Travel statement credits: 1 cent per point
  • Cash back: 0.6 cents per point
  • Gift cards: Varies

With the Premium Rewards Card:

  • ALL redemptions = 1 cent per point

So for the standard Travel Rewards card, travel credits give you the highest value for points – redemptions clock in at a full 1 cent each. Cash back is lower at 0.6 cents apiece. Gift cards vary in value but usually fall somewhere in between.

Meanwhile, the Premium Rewards card guarantees 1 full cent no matter how you redeem points for any award type. So if you want to maximize the value of your hard-earned points, the Premium card gains an edge as a top earner. Or the Travel Rewards card for pure travel redemptions.

The key is being strategic with which card is a better fit and how you ultimately redeem rewards. Know the different values so you can get the highest potential rewards boost per point!

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