Whether you already have a Bank of America bank account or credit card or are considering opening an account in the future, it’s a good idea to understand the benefits and perks that come with cards from this bank.

While not as eye-catching as high cash back rewards rates or splashy welcome bonuses, Bank of America’s BankAmeriDeals program is a handy way for cardholders to earn a little extra cash back on purchases.

What is BankAmeriDeals?

BankAmeriDeals is a cash back program offered by Bank of America. Account holders can use a Bank of America credit card or debit card to make qualifying purchases and earn cash back. This perk is free for all Bank of America online and mobile banking customers, and there’s no sign-up required.

BankAmeriDeals cash back rewards are separate from any cash back credit card rewards that your card may earn, and they only apply to specific participating merchants and retailers. That said, account holders with rewards credit cards can earn both BankAmeriDeals rewards and whatever rewards come with their card, making shopping these deals potentially even more lucrative.

Cardholders aren’t required to participate in BankAmeriDeals. But if you’re already planning to make a purchase from a participating retailer, the extra rewards can be a nice additional perk. BankAmeriDeals is only available to Bank of America customers, and there are similar programs from other issuers, including Chase Offers and Amex Offers.

Types of BankAmeriDeals offered

There are several different types of BankAmeriDeals on offer. Categories include entertainment, food, retail, services and travel. Participating businesses change every few weeks, but recent deals we’ve spotted include:

  • 15 percent back at Hello Fresh
  • 5 percent back at Allbirds
  • 10 percent back at Glossier
  • 10 percent back at World Market
  • $25 cash back when you spend $250 at SimpliSafe

These cash back deals can take the form of a percentage or dollar amount. Percentages usually range from 5 percent up to 50 percent, while dollar amounts typically range from about $4 to $35.

Which Bank of America credit cards have access to BankAmeriDeals?

Most Bank of America customers who use online or mobile banking have access to BankAmeriDeals. This includes, but is not limited to, holders of the following Bank of America credit cards:

Customers who have a debit card with Bank of America and use mobile or online banking can also take advantage of these deals.

There are a few card types that don’t qualify for the program, though, including:

  • AAA credit cards
  • All healthcare account products
  • ATM-only cards
  • Corporate cards
  • Fleet cards
  • Home Equity Line of Credit accounts
  • Merrill Lynch cash management account deferred debit cards
  • P-Cards
  • Prepaid payroll and prepaid incentive cards
  • Travel cards

How do you use BankAmeriDeals?

To use BankAmeriDeals, you’ll first need to sign in to your Bank of America account online or through the mobile app. Next, navigate to the “Rewards and deals” menu and click on “Cash back deals.” You can then view the deals on offer from specific retailers, including the rewards rate and deal expiration date. Deals only last for a few weeks at a time, and new deals are regularly added.

Once you find an offer that you’re interested in, the next step is to click the “Add this deal” button in order to activate the deal. Then, you can shop at the retailer offering the deal either online or in person to earn cash back rewards. Once you make a qualifying purchase, cash back will automatically be deposited into your account. In addition to cash back, some deals also offer customers discounts or other promotional offers. When deciding which deals to participate in, it’s a good idea to read the fine print to determine if there are any special instructions or minimum or maximum spends.

Cardholders can view available deals, rewards earned and expired deals at any time. You can also change your preferences, including your preferred ZIP code, which account you want cash back deposited into and deal alert settings.

Redeeming BankAmeriDeals

Once you select a deal and make a qualifying purchase, there’s nothing else you need to do to redeem rewards. Following a qualifying purchase, rewards will be automatically added to your account within 30 days. You can also set account alerts so that you know when your deals are about to expire. Most deals are only valid for a single use, but some can be used more than once.

To make the most of the BankAmeriDeals program and avoid unnecessary spending, it’s a good idea to resist spending more than you planned to qualify for certain cash back rewards. Instead, you should use this program sparingly, only selecting qualifying deals from retailers that you already planned on shopping with.

The bottom line

For Bank of America customers with a qualifying debit or credit card from the bank, BankAmeriDeals is a unique way for cardholders to earn a little bit of extra cash back.

In most cases, the BankAmeriDeal program probably won’t be the reason that you choose to open a card or bank account with Bank of America. Other benefits — like credit card rewards rates, welcome bonuses, special promotions and luxury perks — may play a stronger role in influencing your decision. That said, the BankAmeriDeals program represents a nice additional way to earn extra cash back on everyday purchases.