How Much Are Bank of America Points Worth? (2024)

FAQs

How Much Are Bank of America Points Worth? ›

Bank of America points are worth 1 cent per point when you redeem them for statement credits. There are a couple of other ways that you can redeem your points, depending on which Bank of America credit card you have.

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.

25,000 online bonus points offer (a $250 value) and no annual fee.

Every Bank of America point is worth up to 1 cent, so for every 100 points that you earn, the maximum value you can redeem is for $1 back in rewards.

Just sign in to your Online Banking account at bankofamerica.com, select your account, select “Rewards,” and click “Redeem Points,” or call 888.268. 7800. Points are available for redemption as soon as they appear on your monthly billing statement.

Bank of America points are generally worth 1 cent per point when redeemed as a statement credit or for travel purchases. As such, the number of Bank of America points that you'll need for a flight will depend on the cost of your flight. For example, a $250 flight will cost 25,000 points.

In most cases, 10,000 Chase Ultimate Rewards points are typically worth $100 that you can then use to purchase gift cards, make purchases on Amazon or receive as cash back on your statement.

Chip Lupo, Credit Card Writer

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.

You can redeem Points for: • Airline travel • Car rentals • Hotel and resort stays What you should know • Travel Reward redemptions start at 2,500 Points. All travel arrangements are subject to availability. You'll earn Points for any additional costs charged on your Card.

Bank of America doesn't have any airline or hotel transfer partners, but the first redemption option — "Travel" — will allow you to use your points to directly book a flight, hotel or car rental. The redemption rate is one cent per point, just as it is with the other two choices.

How do I cash out my Bank of America rewards? ›

Log in to the Mobile Banking app and tap the View My Rewards link to view/redeem available rewards balance. You can also tap the Erica icon and say, “I want to redeem credit card rewards” and follow the instructions (if you prefer, you can also type your message to Erica).

The average fare for a flight in the first half of 2021 was $221, according to the Bureau of Labor Statistics, which would require 22,100 Bank of America rewards points. You don%t have to pay for the entire ticket with points, though. You can redeem for any amount above the $25 threshold.

Bank of America® Customized Cash Rewards Credit Card Summary

You can also receive a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

1,000 reward points are worth around $10 , on average, but the exact value depends on which rewards program is offering the points and how you redeem them. In some cases, your reward points could be worth a lot more or a lot less.

What is the value of 1 Reward Point? 1 Reward Point is equivalent to INR 25 Paise. Thus, 1000 Reward Points get you free shopping worth Rs. 250.

How much is an Everyday Rewards point worth? The value of an Everyday Rewards point is at least 0.5 cents, or $5 for 1,000 Everyday Rewards points.