Bank of America Points: Quick Overview
Earning Bank of America Points: To earn Bank of America points, you will need to use an eligible Bank of America Travel Rewards or Premium Rewards credit card. For every dollar you spend using these cards, you'll earn Bank of America points.
Redeeming Bank of America Points: Bank of America points can be redeemed for travel, dining, and cash back.
Bank of America Points Value: Bank of America points are worth 1 cent each on average. This means 10,000 points are equal to $100 in value.
How much Bank of America points are worth
Bank of America Points have an average value of 1 cent per point in both the Travel Rewards and Premium Rewards programs. Every 10,000 points you earn are equal to about $100 in cash value.
Bank of America points value
|Redemption option||Redemption value in cents|
|Redeeming points for airfare||1 - 1.2|
|Redeeming points for other travel||1|
|Redeeming points for dining||1|
|Redeeming points for cash back||0.6|
Calculator: Bank of America Points To Dollars: Redemptions & Cash Value Calculator
Bank of America points redemption options
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 be able to 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:
- Car Rentals
- Amusement Parks
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.
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.
Benefits and perks of Bank of America Rewards
Unlike other leading travel rewards programs, Bank of America points cannot be transferred to airline, hotel, and other partners for increased value. This means that no matter how you redeem them, they'll be worth 1 cent each on average.
So why would you consider these travel cards at all? One answer: The Bank of America Preferred Rewards program.
Bank of America Preferred Rewards program
One of the biggest benefits that sets Bank of America apart from other rewards programs is that you can earn up to a 75% bonus based on how much you have invested with them and their partners through the Preferred Client program. This allows you to generate some of the best returns on spending available in the credit card market.
Your tier in the program will be based on a 3-month combined average daily balance between all investments with Bank of America and Merrill. The table below breaks down each tier and how much of a bonus you'll receive on credit card spend for each tier.
|Gold||$20K to < $50K||25% bonus|
|Platinum||$50K to < $100K||50% bonus|
|Platinum Honors Tier||$100K to < $1M||75% bonus|
|Diamond Tier||$1M to < $10M||75% bonus|
If you're able to invest, Bank of America's credit cards will take you far. Here's a breakdown of how much you can earn with each credit card based on your tier in the program:
|Credit Card||Standard Rates||Gold (25%)||Platinum (50%)||Platinum Honors & Diamond Tier (75%)|
|Bank of America® Premium Rewards® credit card||1.5X - 2.5X||1.875X - 3.125X||2.25X - 3.75X||2.625X - 4.375X|
|Bank of America® Premium Rewards® Elite credit card||1.5X - 2.5X||1.875X - 3.125X||2.25X - 3.75X||2.625X - 4.375X|
|Bank of America® Travel Rewards credit card||1.5X||1.875X||2.25X||2.625X|
|Bank of America® Business Advantage Travel Rewards World Mastercard||1.5X - 3X||1.875X - 3.75X||2.25X - 4.5X||2.625X - 5.25X|
Another big plus is that the point value boost that you receive from investing with Bank of America and their partners applies to more than just Bank of America's travel rewards and premium rewards credit cards. It also applies to Bank of America Cash Rewards credit cards and the Bank of America® Norwegian Cruise Line Mastercard.
While the Bank of America Rewards program is a solid option at base for earning travel rewards, the Preferred Rewards program is what allows it to compete with the programs offered by AMEX, Chase, Citi, and Capital One.
How to earn Bank of America Rewards points
Bank of America Rewards points are earned by using Bank of America Travel Rewards and Bank of America Premium Rewards credit cards. There's a total of four credit cards available which consists of three personal cards and one business card.
Each of these cards earn Bank of America points per $1 spent on the card. They also offer a variety of benefits including annual credits, airport lounge access, and more.
|Credit Card||Benefits||Annual Fee|
Learn More: Best Travel Credit Cards (+ Rewards Calculator)
Earn more with cash back portals
One of the big benefits of programs that allow you to use rewards to wipe out travel purchases is that you can use cash back and shopping portals to earn additional cash back.
Cash back portals offer cash back (and other rewards) when you start your online session through their website. For example, you can go to the Rakuten Rewards website, find Expedia on their website, click on Shop Now to be taken to the Expedia website, and then book travel as normal.
You'll end up earning cash back through the Rakuten portal, Expedia points if you're part of their program and Bank of America points if you used your credit card to pay for your travel. Once the purchase posts to your card, you can then use your points to wipe away the Expedia charges you made to your card.
Not only is that a triple dip on rewards, but you're also getting some of your money back by redeeming Bank of America points.
If you shop online (including booking travel) and plan on using the Bank of America credit cards, I highly recommend using cash back portals.
Learn More: Online Shopping Portals: How They Work, Payouts, & Reviews
Are Bank of America points worth it?
If you're looking to earn rewards redeemable towards travel and you're able to participate in the Bank of America Preferred Rewards program, going all-in for Bank of America points will easily be worth.
Not only will you be able to earn lots of points on your everyday spending, but you'll also be able to partake in the other benefits the Preferred Rewards program offers such as discounts on home equity and auto loan interest rates, no monthly maintenance fees, interest rate boost for savings accounts and more.
If you're not able to invest money with Bank of America and their partners, the Bank of America Rewards program is still a solid option, but you'll be leaving rewards on the table as their are travel rewards programs that will earn you a lot more bang for your buck.
What are Bank of America points?
Bank of America points is the rewards currency of the Bank of America Travel Rewards and Bank of America Premium Rewards programs.
How do you earn Bank of America points?
Bank of America points are earned using Bank of America's travel rewards and premium rewards credit cards.
How much are Bank of America points worth?
Bank of America points are worth 1 cent each on average. This means that 10,000 points are equal to $100 in cash value.
What is the difference between Bank of America Travel Rewards and Premium Rewards?
Travel Rewards can be redeemed for 1 cent in value towards travel while Premium Rewards can be redeemed for 1 cent in value for both travel and dining. The credit cards that earn Premium Rewards also features significantly more benefits whereas the Travel Rewards credit cards do not.
Bank of America points calculators
Use our Bank of America points calculators to calculate credit card earnings and the cash value of points based on redemption. You can also check out our short and simple guide on Bank of America Rewards points.
Use our Bank of America credit card calculators to estimate how many points you can earn and the cash value of the card based on the spend amounts you enter, how much you value benefits, and annual fees.
Our calculators allow you to compare up to two additional credit cards side by side based on same or different spend. Plus, all spend amounts you enter in the Primary card's column rolls over to all credit card rewards calculators on the site!
Want to know how much Bank of America points are worth? Check out our guides and calculators on point value.