How can I redeem my Bank of America cash rewards?

The best cash rewards credit card from Bank of America is the Bank of America Customized Cash Rewards credit card. You can earn 1 - 3% cash back on purchases. In addition, it offers $200 for spending $1,000 in the first 90 days of account opening.

However, this is not the only good option when it comes to Bank of America cash rewards credit cards. So, it’s worth comparing your options before making your final decision.… read full answer

Here are some of the best cash rewards credit cards from Bank of America:

It offers 3% cash back in a category of your choice and 2% back at grocery stores and wholesale clubs (up to $2,500 spent quarterly), plus unlimited 1% cash back on all other purchases. In addition, you can earn $200 for spending $1,000 in the first 90 days.

It offers 1.5% cash back on all purchases. In addition, you can earn $200 online cash rewards for spending $1,000 in the first 90 days.

It offers 3% cash back in a category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 spent on these categories combined per quarter), and 1% on all other purchases. In addition, you can earn $200 for spending $1,000 in the first 90 days.

It offers 3% cash back in a category of your choice, 2% back at grocery stores and wholesale clubs (up to $2,500 spent quarterly in the 3% and 2% categories combined), and 1% back on all other purchases. It requires a security deposit of $200, at a minimum.

It offers 3% cash back on your choice of one out of six categories and 2% cash back on dining (for the first $50,000 combined in these 2 categories per year), as well as 1% back on all other purchases. In addition, you can earn $300 statement credit for spending $3,000 in the first 90 days.

As you can see, there are plenty of Bank of America cash rewards credit cards. And some cards are available for people with bad and limited credit, too. That’s pretty rare. So, make sure you know which credit card you qualify for before applying. You can check your credit score for free, right here on WalletHub.

Redeeming cash rewards from Bank of America takes up to 14 business days, depending on the redemption method. Redeeming cash rewards for a statement credit will take around three business days. If you redeem for a direct deposit to a bank account, it will take up to five business days. If you request a check, it will be mailed within 14 business days.… read full answer

Cash Rewards from Bank of America is a program in which you earn cash rewards when you make purchases with a Bank of America cash rewards card. Rewards are only redeemable for cash back, either in the form of a statement credit, direct deposit, or personal check.

Here’s more info about the cash rewards redemption options from Bank of America:

• Redeem for a statement credit: Will post to your account within three days of redemption. Statement credits will normally be applied to an existing balance with the highest APR. Statement credits do not affect your minimum payment due each month.
• Direct deposit to a checking or savings account: Will post to your requested account within five business days. Not limited to Bank of America checking or savings accounts. If your bank rejects the direct deposit, rewards will be returned to your account. Bank of America will notify you within 15 days of any rejected deposits.
• Request a personal check: Will be mailed First Class to the billing address on your account within 14 business days. Check redemptions start at $25. Multiple checks, if requested, will be mailed separately. Check will be payable only to the primary cardholder, not to joint or authorized users. Checks are valid for 90 days from the date issued. A check that expires will be voided, and you’ll receive a statement credit for the check amount within two billing periods.
• Automatic redemption: Will post to your designated Bank of America or Merrill account at the end of each calendar month, provided your rewards balance meets or exceeds $25.

You can redeem cash rewards from Bank of America through your online banking account, or by calling (800) 434-8313.

If you also have a Preferred Rewards membership on an eligible card, you’ll be able to maximize your cash rewards with an extra bonus of 25%, 50% or 75% for the Gold, Platinum and Platinum Honors tiers, respectively. So, on a $100 purchase that earns you 3% cash back ($3) you’ll actually earn $3.75, $4.50 or $5.25 depending on your Preferred Rewards tier. Your tier is based on your combined balances in your Bank of America deposit and/or Merrill investment accounts.

The Bank of America Customized Cash Rewards credit card gives cardholders 3% cash back in a category of your choice and 2% back at grocery stores and wholesale clubs (up to $2,500 spent quarterly), plus unlimited 1% cash back on all other purchases. The card also offers $200 for spending $1,000 in the first 90 days.

However, the most unique thing about this card is the choice it gives you for your top bonus rewards category.

The Bank of America Customized Cash Rewards credit card 3% category options are:

• Gas
• Online Shopping
• Dining
• Travel
• Drug Stores
• Home Improvement / Furnishings

More generally, the Bank of America Customized Cash Rewards credit card works like any other unsecured credit card, allowing cardholders to borrow money for purchases and pay off the balance later. As long as you avoid interest charges and fees, the rewards you earn from spending will help you save money.… read full answer

In addition, customers with a lot of money in BofA bank accounts or Merrill investment accounts may be eligible for Preferred Rewards, which can boost your credit card cash back by up to 75%. Once you’ve built up your cash back on the Bank of America Customized Cash Rewards credit card, you can redeem your rewards for a check, a statement credit, or a direct deposit to your bank account.