How do bank of america reward points work

Footnote 3. Get advice and guidance to help you plan for your future with an online experience built around you, professionally managed portfolios and the option to work one-on-one with an advisor. Save at closing on a new Bank of America purchase or refinance mortgage with a reduction in the Origination Fee, based on your Preferred Rewards tier. An interest rate discount on a new home equity line of credit, based upon your eligible balances or tier at time of application.

Want to get an even better rate? As a Preferred Rewards member, you can receive a 0. Enjoy fee waivers on everyday services for Bank of America personal checking and savings accounts:.

Use our Preferred Rewards Calculator to see the benefits you can earn. Calculate your Preferred Rewards potential. There is no fee to join or participate in the program. To become a Preferred Rewards member you will need:. There are costs associated with owning ETFs and mutual funds.

To learn more about Merrill pricing, visit merrilledge. Cards not eligible for the rewards bonus:. You are using an unsupported browser version. Learn more or update your browser. Preferred Rewards. The best relationships grow over time Preferred Rewards is our way of saying we value you. Displayed benefits are for the following amount:. Interest Rate Booster Footnote 1. Earn more for every dollar you save.

Credit Card. Rewards Bonus Footnote 2. A rewards bonus on eligible Bank of America credit cards. Footnote 2. ATM Transactions. Merrill Guided Investing. Program fee discount Footnote 4. Reduction in the Origination Fee Footnote 5. While minimum balance requirements are high, the Bank of America Preferred Rewards program can help you earn considerably more points on your spending if you qualify. For example, cardholders with the Bank of America Premium Rewards credit card have the potential to earn up to 3.

Keep in mind that the Bank of America Travel Center lets you make travel bookings with over , hotels and resorts and more than airlines, among other options. Since some Bank of America travel rewards credit cards let you redeem your points for statement credits or for travel booked through the Bank of America Travel Center, you should compare pricing with both.

By comparing the price of booking with your credit card and accepting a statement credit or booking through the travel portal, you can make sure you get the best deal. Finally, make sure to think long and hard about your goals before you sign up for a travel credit card from this issuer. Bank of America travel rewards can work differently depending on the card you sign up for, so make sure to compare all the best rewards card options before you decide.

In the meantime, spend some time comparing cards from this issuer to other travel rewards credit cards from Citi, Chase, American Express and other major issuers.

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Microsoft and partners may be compensated if you purchase something through recommended links in this article. The catalog offers a variety of options, such as gift cards, travel and cash back.

The minimum balance you need to redeem for rewards is 2, points. After you browse the Bank of America rewards catalog and make a selection, click the "Redeem My Points" button. Enter your order and shipment information and complete the checkout process. Before you call to redeem your points, log in to Online Banking or check your most recent credit card statement to get an idea of how many points you have. To redeem Bank of America credit card points, call and choose option 2.

You can redeem points by phone from 9 a. Eastern time Monday through Friday. The redemption representative will redeem your points and place your order. If you don't know what you want to redeem your points for before you call, ask the representative to let you know what your options are. Depending on the type of card you have, there may be a fee for cashing in your points by phone.