Bank of America Points Value: What Are They Worth?

How much are Bank of America points worth?

Bank of America Points have an average value of 1 cent per point. So 25,000 points would be worth $250 for example.

Bank of America points value

The value of your points and how you can redeem them will vary based on whether you have a Premium Rewards or Travel Rewards credit card from Bank of America.

Redeeming Bank of America points for travel purchases

Bank of America Points will have the best value when redeemed for travel. This will make your points worth an average of 1 cent apiece.

Bank of America Travel Center

Bank of America Points can be redeemed towards travel purchased through the Bank of America Travel Center. This will give your points a value of 1 cent each for Premium and Travel Rewards credit cards.

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 a great option, you can get more value by using points to wipe out travel purchases made to your card (see next section).

Redeeming points towards travel purchases

Bank of America Points can be used to wipe out the cost of travel purchases made to a Bank of America Premium Rewards or Travel Rewards credit card.

This gives you the flexibility to use your points towards any kind of travel purchase. This includes:

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

Not only is this more options than what's available to you in the Bank of America Travel Center, but you'll also be able to book direct.

Booking direct for hotels, airfare, and other programs is important if you're trying to earn elite status with a program or if you already have status and want it to recognized.

You typically will not receive stay credit or benefits when booking through a third party site such as the Bank of America Travel Center.

Earn more with cash back portals

Another plus to using points to wipe out travel charges is that you can use cash back and shopping portals with this method.

Book your travel through Rakuten Rewards or other portals and earn cash back in addition to your Bank of America points.

It's an easy way to double and triple dip on rewards for online purchases you were going to make anyway.

Earn additional cash back booking through Rakuten Rewards

Redeeming points towards dining purchases

Bank of America Points can be redeemed towards dining purchases made to a Bank of America Premium Rewards or Travel Rewards credit card. This will give you 1 cent in value per point.

If you're looking to enjoy a free meal or reduce it's cost, this is a great redemption option as it offers the same exact value as travel redemptions.

Bank of America Premium Rewards points value

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.

This is the ultimate in flexibility and makes having a Premium Reward credit card very worthwhile. You'll be able to redeem your points for pretty much anything and never have to worry about getting less than 1 cent in value.

Bank of America Preferred Rewards bonus points

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 (and other benefits) offered by the Bank of America Preferred Rewards program.

With Bank of America Preferred Rewards and Preferred Rewards for Business, 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 due to the fact these points would be worth 1 cent each.

The bonus offered with these programs are based on a 3-month average in combined balances. The table below shows the bonuses you'll receive based on that average balance.

Each tier in the program is based on a 3-month average in combined balances between Bank of America accounts, Merrill Edge, or Merrill Lynch.

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

• Bank of America Travel Rewards credit cards
• Bank of America Premium Rewards credit cards
• Bank of America Cash Rewards credit cards
• The Bank of America® Norwegian Cruise Line Mastercard
• The AAA Member Rewards Visa® credit card

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.

How to convert Bank of America points to dollars

Use the Bank of America Points Value Calculator to determine the cash value of points. This will give you an idea of how much your points are worth on average.