How much are Bank of America rewards points worth? This question is about Bank of America Credit Cards

How much are Bank of America rewards points worth?

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This question is about Bank of America Credit Cards

Maria Adams, Credit Cards Moderator

@m_adams • 10/20/22 This answer was first published on 04/09/21 and it was last updated on 10/20/22.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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Bank of America rewards points are worth up to 1 cent per point. The exact ammount depends on which BofA rewards card you have and how you redeem the points.

For example, points from the Bank of America® Travel Rewards credit 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 Bank of America® Premium Rewards® credit card are worth $0.01 per point.

Other points-earning BofA credit cards are co-branded with specific companies. The Free Spirit Airlines Credit Card, the Free Spirit Airlines Credit Card with No Annual Fee, and the Sonesta Credit Card are a few of them. Many have different point-redemption values, too.

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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

Log in to your Bank of America credit card account.
Select the “Rewards” tab.
Choose a redemption option.
Select the amount of cash back to redeem.
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What's the best Bank of America credit card for rewards?

The best Bank of America credit card for rewards is the Bank of America® Premium Rewards® credit card. It offers an initial bonus of 50,000 points for spending $3,000 in the first 90 days, and it gives 2 points per $1 spent on travel and dining, and 1.5 points per $1 on all other purchases.

The Bank of America Premium Rewards credit card’s rewards and other benefits make its $95 annual fee worth paying. There are less expensive options, too. The best Bank of America credit card for rewards and no annual fee is the Bank of America® Travel Rewards credit card. It gives cardholders 1.5 points per $1 spent on all purchases. The Bank of America Travel Rewards credit card’s signup bonus is 25,000 points for spending $1,000 in the first 90 days.

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