Bank of America Travel Rewards points are worth 1 cent each when redeemed for travel. For example, 10,000 BofA Travel Rewards points are worth $100 in travel expenses. Redeeming for travel is your best option with the Bank of America Travel Rewards card.
These points are significantly less valuable when redeemed for a gift card, for cash back or for a miscellaneous item such as a charitable donation. For example, each point is worth 0.9 cent when redeemed for gift cards, and 0.6 cent when redeemed for cash back.
You can redeem Bank of America travel rewards for a statement credit to cover travel purchases made in the past 12 months, for gift cards, or for cash back via paper check or a BofA deposit-account credit. You can redeem for travel or cash back once you’ve collected at least 2,500 points ($25 travel value or $15 in cash back). But you’ll need at least 3,125 points to redeem for gift cards. You can redeem your points by signing in to your online account at bankofamerica.com, logging into your account on the BofA mobile app, or calling (888) 268-7800.… read full answer
The Bank of America Travel Rewards card gives at least 1.5 points for every $1 you spend, so that can add up quickly. And if you travel frequently, you should have no trouble using the points. While you can’t actually use points to purchase travel directly, you can pay for travel purchases with the card through the Travel Center and earn 3 points per $1 spent. Two days later, you can redeem those points to count towards the travel purchase as long as you have at least 2,500 points.
One great thing about redeeming Bank of America Travel Rewards points for your travel purchases is BofA’s broad interpretation of what counts as a travel purchase. You can use points toward purchases like circuses, art galleries, amusement parks, tourist attractions, boat rentals, limousines, and zoos, along with your ordinary travel expenses like plane tickets and hotels. And unlike a lot of other credit cards, BofA counts VRBO and VacationRentals.com rentals in its travel category, which lets you use your points toward those purchases.
The BofA Travel Rewards Card also gives another way to earn more points. If you have at least $20,000 between a personal BofA checking account and/or qualifying Merrill accounts, you can qualify for one of BofA’s Preferred Rewards tiers. That means you can earn 25%-75% more rewards points per $1 spent on your credit card.
Credit card points are worth an average of 1 cent apiece, though credit card point values usually range from 0.5 cents to 1.5 cents per point, depending on the card and the redemption method. For example, you might spend 2,500 points on a $25 gift card, but the same number of points might only get you $15 when redeemed for merchandise.… read full answer
More credit cards reward users with points than you might think, too. For instance, some so-called “cash back” cards actually give points, which cardholders can redeem at a rate of 1 cent per 1 point.
Average Credit Card Point Values by Issuer:
Type of Credit Card Points
Average Point Value
Average Value of 1,000 Points
American Express Membership Rewards Points
$0.0076 (less than 1 cent)
Bank of America Travel Rewards Points
$0.01 (1 cent)
Chase Ultimate Rewards Points
$0.0125 (1.25 cents)
Citi ThankYou Rewards Points
$0.01 (1 cent)
U.S. Bank FlexPerks Rewards Points
$0.015 (1.5 cents)
Wells Fargo Go Far Rewards Points
$0.01 (1 cent)
High Credit Card Point Values:
U.S. Bank FlexPerks Gold: 1.5 cents per point when redeemed for plane tickets, hotels, and rental cars.
Chase Sapphire Reserve: 1.5 cents per point when redeemed for travel through Chase Ultimate Rewards; 1 cent per point for other redemption methods.
J.P. Morgan Reserve: 1.5 cents per point when redeemed for travel through Chase Ultimate Rewards; 1 cent per point for other redemption methods.
Chase Sapphire Preferred: 1.25 cents per point when redeemed for travel through Chase Ultimate Rewards; 1 cent per point for other redemption methods.
Citi Premier: 1.25 cents per point when redeemed for travel through Citi ThankYou; 1 cent per point for gift card redemptions; 0.5 cent per point for cash back redemptions.
It’s important to note that credit card points can get devalued at any time by the card issuer. That means the point values listed above can change. Usually, card issuers will reserve the right to change rewards programs - including point values - in the card’s terms and conditions.
For example, a card issuer can decide that a $300 plane ticket should cost 1,000 more points than it does currently, which in turn lowers the redemption value of the reward point. That’s why cash back is usually a better value than points - $1 in cash back will always be worth $1.
This information is accurate as of the day this answer was posted.
How many miles you need for a free flight depends on the dollar cost of the flight. On average, a one-way domestic flight will cost between 6,000 miles and 20,000 miles, depending on the airline. A one-way international coach flight will cost 35,000-50,000 miles.
Airline miles and points are generally worth around 1 cent each, but their value can vary. For instance, when redeeming Southwest points for a free flight, each point is worth 1-1.5 cents, depending on the route and date of the flight. United miles are worth between 1 and 2.5 cents each.… read full answer
How Many Miles You Need for Free Flight by Major Airline:
American Airlines: 7,500+ miles needed for a free one-way domestic flight.
United Airlines: 10,000+ miles needed for a free one-way domestic flight.
Southwest Airlines: 2,372+ miles needed for a free one-way flight from Las Vegas to Los Angeles (cheapest option).
Frontier Airlines: 10,000+ miles needed for a free one-way domestic flight.
JetBlue Airlines: 3,400+ miles needed for a free one-way flight from Long Beach, CA to Las Vegas (cheapest option).
Getting an airline credit card can help you earn miles and free flights faster than a frequent flyer program alone, especially with large signup bonuses. The Citi/AAdvantage Platinum Select World Elite Mastercard, for example, comes with a signup bonus of 50,000 miles for spending $2,500 in the first three months. Since the $99 annual fee is waived the first year, you can get those bonus miles and redeem for free flights before having to pay any annual fee.
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