Bank of America Points Value Calculator

Rewards Value Calculator
Calculate the cash value of Travel Rewards Points and Premium Rewards Points earned with Bank of America credit cards. Plus, get the full details on what you can redeem your points for.
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Last Updated 2021-12-19
Redemption Avg Point Value
Travel 1 Cents

Bank of America Points earned with Travel Rewards credit cards have the best value of 1 cent per point when redeemed toward travel and dining. When using Premier Rewards credit cards, all redemptions will offer a value of 1 cent per point.

Earning Bank of America Rewards Points

Bank of America offers a total of four point-earning credit cards consisting of two Premium Rewards credit cards and two Travel Rewards credit cards.

What you can redeem your rewards towards and the value you receive will depend on which card(s) you have. The Premium Rewards credit card offers the most flexibility while the Travel Rewards credit cards offer the best value specifically on travel and dining.

Best For Travel Rewards

Intro Bonus
Receive 50,000 online bonus points - a $500 value - after you make at least $3,000 in purchases in the first 90 days of account opening
Rewards Rate
2X
Earn an unlimited 2X points per $1 spent on travel and dining purchases
1.5X
Earn an unlimited 1.5X points per $1 spent on all other purchases
Main Card Highlights
  • If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase
  • Get up to $100 in Airline Incidental Credits annually and TSA Pre✓®/Global Entry Statement Credits of up to $100, every four years
  • Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill® accounts, or gift cards or purchases at the Bank of America Travel Center
  • No limit to the points you can earn and your points don't expire
Annual Fee
$95
Authorized User Fee
$0
Foreign Transaction Fee
0%

Best For Travel Rewards With Benefits

This card is currently available in branch only.
Rewards Rate
2X
Earn an unlimited 2X points per $1 spent on travel and dining purchases
1.5X
Earn an unlimited 1.5X points per $1 spent on all other purchases
Main Card Highlights
  • Receive up to $300 in statement credits annually towards airline incidental purchases made to the card including seat upgrade, baggage fees, and lounge access fees.
  • Receive up to $150 in statement credits annually towards lifestyle purchases which includes streaming services fitness subscriptions, rideshare, and food delivery.
  • Enjoy complimentary Priority Pass Select membership when you enroll as a Premium Rewards Elite credit cardholder.
  • Save 20% of your points on airfare redemptions made through Bank of America Travel Center or concierge.
  • If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase
  • Get up to $100 in Airline Incidental Credits annually and TSA Pre✓®/Global Entry Statement Credits of up to $100, every four years
  • Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill® accounts, or gift cards or purchases at the Bank of America Travel Center
  • No limit to the points you can earn and your points don't expire
Annual Fee
$550
Authorized User Fee
$0
Foreign Transaction Fee
0%

Best For Rewards With No Annual Fee

Intro Bonus
25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases
Rewards Rate
1.5X
Earn an unlimited 1.5 points per $1 spent on all purchases.
Main Card Highlights
  • Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions
  • Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout
  • 0% Introductory APR for 12 billing cycles for purchases. After the intro APR ends, 13.99% - 23.99% Variable APR will apply
  • If you're a Preferred Rewards member, you can earn 25% - 75% more points on every purchase
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
0%

Best For Business Rewards With No Annual Fee

Rewards Rate
3X
Earn 3 points per every dollar spent when you book your travel (car, hotel, airline) through the Bank of America® Travel Center.
1.5X
Earn unlimited 1.5 points for every $1 you spend on all purchases, everywhere, every time – no matter how much you spend
Main Card Highlights
  • Enjoy no annual fee and no international transaction fees while earning points
  • 0% on purchases for 9 billing cycles from account opening
  • Redeem points for a statement credit to offset travel and dining-related purchases, travel with no blackout dates at the Bank of America Travel Center, cash back or gift cards.
  • Earn up to 75% more points on every purchase, if you have a business checking account with Bank of America and qualify for Preferred Rewards for Business.
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
0%

Redeem Points For Travel & Dining

Bank of America Rewards Points can be redeemed for an average value of 1 cent each towards travel and dining purchases.

Bank of America Travel Center

Bank of America Rewards Points can be redeemed in the Bank of America Travel Center for a value of 1 cent per point.

If you're a Bank of America® Premium Rewards® Elite credit cardholder, you'll save 20% on your airfare bookings through Bank of America Travel Center or concierge meaning that you'll get a slightly higher value of 1.2 cents per point.

Within the portal, you can book airfare, hotels, and more directly though the portal. While this is great, the better option for booking travel will generally be using points to wipe out travel purchases.

Redeem Towards Travel Purchases

Bank of America Rewards Points can be used to wipe out the cost of travel purchases made to the card. This allows for much more flexibility than redeeming them in the Bank of America Travel center.

For example, you'll be able to use them towards the following card purchases:

  • Airfare
  • Hotels
  • Car Rentals
  • Cruises
  • Campgrounds
  • Amusement Parks
  • Aquariums
  • Zoos

As you can see, you'll have a larger amount of redemption options than what's offered in the travel portal.

Another plus to this redemption option is that you can use cash back and shopping portals with this method.

Book your travel through Rakuten Rewards and earn cash back on top of your Travel Rewards Points and then use your points to wipe out the purchases. It's an easy and free way to stack up on extra rewards.

Earn Expedia Rewards, cash back with Rakuten, AND redeem your Bank of America Travel Rewards Points.

Redeem Towards Dining Purchases

Bank of America Rewards Points can also be used towards dining purchases made to the card. This will give you 1 cent in value per point. This can be great if you're looking to enjoy a free meal.

Bank of America Premium Rewards

Premium Rewards credit cardholders will be able to redeem points for 1 cent each for all redemptions. This includes cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill® accounts, and gift cards.

If you want your points to be worth the same value across all redemptions, you'll want to have the Bank of America® Premium Rewards® credit card.

Cash Back / Statement Credits

If you own the Bank of America® Premium Rewards® credit card, you'll be able to redeem points for a value of 1 cents each for cash redemptions. For cardholders, this will be the best redemption option since you'll be able to "double down" on rewards.

For example, let's say that you want to book a hotel that costs $300 which would cost you 30,000 Travel Rewards Points. If you were to redeem your points directly for the hotel, you would save $300 and would end up paying nothing out of pocket. You would also not earn any rewards since you didn't pay for anything.

Now let's say that you used your Travel Rewards credit card to pay for the hotel. It would cost you $300, so you would end up earning Travel Rewards Points depending on which card you used. Once that charge posts to your account, you can now redeem the 30,000 Travel Rewards Points for a $300 cash redemption and use them to wipe out the $300 cost.

So you still saved $300, but you also earned some Travel Rewards Points on the original purchase. When doing any kind of point redemptions through the Travel Rewards Program, redeeming for cash is the way to go.

Gift Cards

Bank of America® Premium Rewards® credit cardholders can redeem points for gift cards at a value of 1 cents per point. Bank of America has a hefty amount of gift card options to choose from ranging from dining to entertainment to retail.

If you want to redeem your rewards for gift cards, I recommend using your card to purchase the gift cards and then redeeming your points for cash back to put towards the purchase. This allows you to earn rewards on your gift card purchases.

Bank of America Preferred Rewards Bonus

The Bank of America Travel Rewards Program is not praised due to it's redemption point value of 1 cent, but for the bonus points you can earn if you have money invested with Bank of America and their partners.

With the Bank of America Preferred Rewards program and Preferred Rewards for Business program, you can earn up to a 75% bonus on points earned using Bank of America credit cards.

For example, a 75% bonus on the Bank of America® Premium Rewards® credit card would mean you would earn 3.5X on travel and dining purchases and 2.625X on all other purchases which is fantastic if you have the money to invest.

The investment bonus you'll receive is based on a 3-month average in combined balances. The table below shows the bonuses you'll receive based on that average balance.

Bank of America Investment Bonuses
Level Bonus Rewards Required Balance
Gold 25% Bonus $20k to <$50k
Platinum 50% Bonus $50k to <$100k
Platinum Honors 75% Bonus $100k+

The point value boost that you receive from investing with Bank of America and their partners will apply to:

If you can hit the $100K threshold for Platinum Honors, I recommend considering the Bank of America Customized Cash credit card. With a 75% boost, you would be earning up to 5.25% cash back on a category of your choice, up to 3.5% back at grocery and wholesale clubs, and 1.75% on everything else.

Bank of America® Customized Cash Rewards credit card
Bank of America® Customized Cash Rewards credit card
Intro Bonus
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
Rewards Rate
3%
Earn 3% cash back in the category of your choice (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases).
2%
Earn automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases).
1%
Earn unlimited 1% on all other purchases.
Main Card Highlights
  • No annual fee
  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
  • Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases
  • 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 13.99% - 23.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers
  • No expiration on rewards
  • If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase
  • Contactless Cards - The security of a chip card, with the convenience of a tap
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
3%

Bank of America Rewards Points Value Calculator

Use the Bank of America Rewards Points Value Calculator to calculate the cash value of Bank of America Travel Rewards and Premum Rewards Points based on the redemption options listed. You can enter any amount of points in the field below.

Bank of America Rewards Points Value Calculator

Enter any amount of points to calculate the average cash value.
Points
Bank of America Premium Rewards
Premium Rewards Elite Cardholders Airfare
1.2 cents
$0
All Other Redemptions
1 cent
$0
Bank of America Travel Rewards
Travel
1 cent
$0
Dining
1 cent
$0

FAQ

How much are Bank of America Points worth?

Points earned with the Travel Rewards credit cards are worth 1 cent towards travel and dining. Points earned with the Premium Rewards credit card are worth 1 cent for all redemptions.

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