What are the Bank of America rewards categories? This question is about Bank of America Credit Cards

What are the Bank of America rewards categories?

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This question is about Bank of America Credit Cards

Adam McCann, Financial Writer

@adam_mccann • 04/14/22 This answer was first published on 01/19/21 and it was last updated on 04/14/22.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The Bank of America rewards categories include gas, online shopping, grocery stores and more, depending on the card. When cardholders make purchases that fall into a BofA card’s bonus categories, they earn extra rewards compared to the card’s base earning rate.

Whether a purchase falls into a card’s bonus categories depends on the merchant category codes. These codes are assigned by the major credit card networks to merchants based on what kind of business they conduct. So, if a merchant has the MCC for “grocery stores,” for example, purchases made at that merchant will earn bonus rewards on cards that include “grocery stores” as a bonus category.

Some Bank of America credit cards have certain fixed rewards categories plus additional categories that you can choose from a list. For example, the Bank of America Customized Cash Rewards credit card always has the grocery stores and wholesale clubs category. But cardholders can pick an additional bonus category from the following list: gas, online shopping, dining, travel, drug stores and home improvement/furnishings.

More info regarding the Bank of American rewards categories:

There’s one other major type of Bank of America rewards category. BofA cards that are co-branded with a certain merchant typically offer bonus rewards on purchases made with the partnered merchant. Some examples are the Alaska Airlines Credit Card, the Norwegian Cruise Line® Credit Card and the Sonesta Credit Card.

If you’re looking to get a Bank of America rewards credit card, it’s a good idea to pick a card that offers the opportunity to earn bonus rewards in your most frequent purchase categories. Alternatively, you might want to get a card that offers a flat rewards rate on all purchases, like the Bank of America® Travel Rewards credit card.

Answer Question

How can I redeem my Bank of America cash rewards?

The easiest way you can redeem your Bank of America cash rewards is either online or through the mobile app. Alternatively, you can do it over the phone, by calling customer service at (800) 434-8313.

How to Redeem Your Bank of America Cash Rewards Online

Select the “Rewards” tab.

Choose a redemption option.

Select the amount of cash back to redeem.

Submit your redemption request.

You can redeem your cash rewards for statement credit, direct deposit to a BofA/Merrill Lynch account, or a personal check. Cardholders must have a minimum of $25 in cash back earned in order to redeem, regardless of redemption method.

Using your Bank of America cash rewards for a statement credit is one of the simplest options. Once you have at least $25 in cash rewards, you can directly apply your rewards as a statement credit and the amount will be subtracted from your current balance.

To redeem your cash rewards for a direct deposit, you must have a Bank of America checking or savings account, or a Cash Management Account at Merrill Lynch. If you choose to redeem your rewards using the personal check option, you should expect to wait at least 14 days for the check to arrive by mail.

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What is included in the Bank of America online shopping category?

The Bank of America online shopping category includes bookstores, clothing stores and department stores, among others. This category gives you rewards for purchases made online or with a mobile app from merchants such as Amazon, Apple, Best Buy, Etsy, Groupon, Macy’s, Target, Ticketmaster and Walmart. Keep in mind that the online shopping category list is not exhaustive. Different types of purchases may be eligible as well.… read full answer

Here is the Bank of America online shopping category list:

Bookstores

Clothing and Apparel

Department Stores

Discount Stores

Electronics

Specialty Retail Stores

Sporting Goods

The Bank of America online shopping category is one of the bonus rewards categories that you can choose for the Bank of America Cash Rewards for Students, Bank of America Customized Cash Rewards credit card and Bank of America Custom Cash Secured Card. You can also find it as a bonus-category choice on some of BofA’s co-branded credit cards like the Pink Ribbon™ Credit Card.

You should keep in mind that there are several types of transactions that are not eligible for the Bank of America online shopping category. Those include payments to insurance companies, utilities, schools, hospitals and more.

Merchants excluded from the Bank of America online shopping category:

Doctors and Hospitals

Government Services and Taxes

Insurance

Membership Organizations

Schools

Utilities

Other non-retail services

These lists are not comprehensive, as Bank of America does not control how individual merchants are classified by the credit card networks. Each merchant has a "merchant category code," which is assigned by the card networks, and that code determines which general credit card rewards category a purchase falls into.

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How do I redeem my Bank of America rewards?

To redeem Bank of America rewards, sign in to your online account and select the “Rewards” tab, which will show the available cash back, points, or miles, along with the different redemption options. It’s also possible to redeem rewards through the Bank of America mobile app or by calling (800) 434-8313… read full answer and pressing 2. This line is available Monday to Friday, 9 a.m. to 9 p.m. ET.

Best Way to Redeem Bank of America Rewards

Click on the “Rewards” tab.

Choose your redemption option.

Select the number of points / the amount of cash back to redeem.

Submit your redemption request.

If you have a Bank of America credit card that offers rewards in the form of points, it’s a good idea to redeem often. Issuers have the power to devalue points (make them worth less) at any time, and some points expire after a certain amount of time.

Bank of America Rewards Redemption Options

Rewards redemption options depend on which Bank of America credit card you have. For example, if you have a Bank of America® Customized Cash Rewards credit card, you can redeem your rewards for a check, statement credit or direct deposit to your bank account.

On the other hand, points on a Bank of America® Travel Rewards credit card can be redeemed for statement credits toward travel purchases, as well as for cash back or gift cards.

Some cards might also let you redeem for other things, like charitable donations.

Bank of America Rewards Value

Just keep in mind that Bank of America rewards points may be worth different amounts toward different redemption options. Furthermore, depending on which Bank of America card you have, you may need to redeem a certain minimum amount of rewards at a time. For example, the typical minimum redemption amount is $25 or 2,500 points.

You should be able to see all of the fine print through your online account or the rewards program details that Bank of America sends after card approval.

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