Bank of America rewards points are worth up to $0.01 (1 cent) per point, depending on which BofA rewards card you have and how you redeem the points.
For example, points from the BofA Travel Rewards Card are worth $0.01 each when redeemed for travel credits (1,000 points = $10). They’re worth $0.006 per point (1,000 points = $6) when redeemed for cash, and gift card redemption values vary.
Meanwhile, all points earned with the BofA Premium Rewards Card are worth $0.01 per point.
Other points-earning BofA credit cards are co-branded with specific companies. The Amtrak Guest Rewards World Mastercard, the AAA Credit Card, and the Sonesta World Mastercard are a few of them. Many have different point-redemption values too.
For example, AAA Credit Card points are worth up to 40% more when redeemed for a AAA voucher, compared to other redemption methods like cash back and gift cards. However, you may have trouble finding out how much those cards’ rewards points are worth until you’re ready to redeem them. Many of them don’t have points value listed in their terms.
Finally, it’s worth noting that the redemption values of Bank of America rewards points are subject to change.