Do Bank of America rewards expire? This question is about Bank of America Credit Cards

Do Bank of America rewards expire?

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This question is about Bank of America Credit Cards

Chip Lupo, Credit Card Writer

@CLoop • 08/03/21 This answer was first published on 08/03/21. 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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Bank of America rewards do not expire as long as the account is open and in good standing. You will forfeit any rewards you have yet to redeem if you or Bank of America closes your account for any reason.

Although Bank of America rewards don't expire until the account is closed, it's still a good idea to redeem your rewards as often as possible. Just bear in mind that Bank of America will not allow you to earn or redeem any rewards whenever you're late making the minimum payments.

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How long does it take to redeem cash rewards from Bank of America?

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.

Cash Rewards from Bank of America is a program in which you earn...

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How are reward points calculated?

You can calculate reward point values by dividing the dollar value of what you redeem points for by the number of points required to get that product or service. This will leave you with the value of a single reward point. For example, if a $500 plane ticket costs 40,000 points, that means each point is worth 1.25 cents when redeemed for airfare.

Cost of Item in Dollars / Cost in Points = Value...

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What's the best way to use credit card points?

The best way to use credit card points is for travel purchases, according to a WalletHub research. That’s because issuers usually offer the best value on this particular category. But that’s not a rule across the board. The best way to use credit card points will vary depending on what credit card you have. Your points could be worth just as much (or even more) in cash back or gift cards. So, it’s a good idea to...

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