How to use Bank of America travel rewards points

When it comes to redeeming your Bank of America travel rewards, your options may vary depending on the card you have.

Bank of America Travel Rewards credit card and Bank of America Travel Rewards Credit Card for Students

With the Bank of America Travel Rewards credit card and the Bank of America Travel Rewards Credit Card for Students, you can use your points for:

Cash back in the form of a check or direct deposit to an eligible Bank of America or Merrill account
A statement credit to cover eligible travel-related purchases
Gift cards

Unlike with other travel rewards programs, you can use your eligible card to book travel with any eligible providers, and Bank of America’s list of qualifying travel purchases is extensive. In addition to airlines, hotels, car rentals and eligible transit, travel-related purchases also include purchases made with eligible cruise lines, parking garages, travel agencies, tourist attractions, art galleries, amusement parks and more.

From there, you can redeem your points for a travel credit statement through your Bank of America account. However, note that you’ll need at least $25 worth of points to redeem for a travel credit.

Bank of America Premium Rewards credit card

The Bank of America Premium Rewards credit card lets you cash in your rewards for:

Travel bookings through the Bank of America Travel Center
Cash back in the form of a statement credit or a direct deposit to an eligible Bank of America or Merrill account
Gift cards

Bank of America Premium Rewards Elite Credit Card

With the Bank of America Premium Rewards Elite Credit Card, you can redeem your points for:

Travel bookings through the Bank of America Travel Center
Cash back in the form of a statement credit or a direct deposit to an eligible Bank of America or Merrill account
Travel, experiences, event tickets and more through our Bank of America’s Concierge service
Gift cards

How to maximize Bank of America travel rewards points

To get the most of your travel rewards points with Bank of America, you should try to be as strategic as you can. When you go to redeem points, consider the ways you may be able to earn more points on your spending and any ways you can maximize your rewards.

Join the Bank of America Preferred Rewards program

One major way to earn more Bank of America travel rewards involves signing up for the Bank of America Preferred Rewards program. Doing so can net you an additional 25 percent to 75 percent more in rewards for each dollar you spend. However, note that you do need to meet certain qualifications to enroll in this program, including:

An active, eligible Bank of America checking account
A three-month average combined balance of $20,000 or more in eligible Bank of America accounts and/or Merrill investment accounts

Also, keep in mind that the Bank of America Preferred Rewards program offers additional perks like savings boosters and loan discounts for members with cash on deposit. The following chart shows how much more you could earn in rewards as a member, as well as how much you need to keep in eligible accounts to qualify for each tier.

Tier	3-month combined average daily balance	Credit card rewards bonus
Gold Tier	$20,000 to $49,999	25%
Platinum Tier	$50,000 to $99,999	50%
Platinum Honors Tier	$100,000 to $999,999	75%
Diamond Tier	$1,000,000 to $9,999,999	75%

While the minimum balance requirements are high, the Bank of America Preferred Rewards program can help you earn considerably more points on your spending if you qualify. For example, Bank of America Premium Rewards credit card members in the Platinum Honors tier have the potential to earn up to 3.5X points for every dollar spent on travel and dining purchases and up to 2.62X points on other purchases.

Also, it’s worth noting that there is one more Bank of America Preferred Rewards program tier, Diamond Honors.

Compare pricing in the travel portal

Keep in mind that the Bank of America Travel Center lets you make travel bookings with over 200,000 hotels and resorts and more than 200 airlines, among other options. Since some Bank of America travel rewards credit cards let you redeem your points for either travel-related statement credits or travel booked through the Bank of America Travel Center, you should compare the prices offered in the travel portal with other travel sites. By comparing prices, you can make sure you get the best deal.

Pick a card with an annual fee

Finally, make sure to think about your goals before you sign up for a travel credit card from this issuer. After all, a card with an annual fee comes with more benefits and perks. For example, when you pay the $95 annual fee for the Bank of America Premium Rewards card, you’ll get higher rewards rates on travel and dining spending, up to a $100 annual credit for incidental airline expenses to cover eligible costs and up to a $100 application fee credit toward Global Entry or TSA PreCheck membership every four years. All of this could easily leave you “ahead” in a financial sense.

The bottom line

Bank of America travel rewards can work differently depending on the card you sign up for, so make sure to compare all the rewards card options available before you decide on a card. In the meantime, spend some time comparing cards from this issuer to travel rewards credit cards from other major issuers. You may find that Bank of America has what you’re looking for in a travel rewards card, but you’ll never know for sure unless you check.

The Bank of America content in this post was last updated on June 28, 2023.

The information about the Alaska Airlines Visa® credit card was updated on June 28, 2023.

*The information about the Bank of America® Premium Rewards® Elite Credit Card, Free Spirit® Travel More World Elite Mastercard®, Allegiant World Mastercard®, Royal Caribbean Visa Signature® card, Norwegian Cruise Line® World Mastercard®, Celebrity Cruises Visa Signature® card, Virgin Atlantic World Elite Mastercard® and Air France KLM World Elite Mastercard® has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.