How does Bank of America rewards work?


Quick Answer

Bank of America rewards earns customers rewards each time they spend money, including cash back, travel rewards and gift cards, says Bank of America. Customers should choose a reward card that fits their needs and lifestyles in order to benefit from the program.

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Full Answer

Many of the Bank of America reward programs allow customers to earn one or more points for every dollar they spend. Some reward cards let a customer earn points for certain items, such as groceries or gas, or for shopping at select stores. The airline reward programs lets customers earn miles for each purchase made. The more purchases made, the more rewards are earned, reports Bank of America.

The cash back rewards program allows customers to deposit the cash earned into their savings, checking or investment account, or the money is credited back to their statements. Some rewards mail customers a check, says Bank of America.

The merchant-specific reward programs offer money back when a customer shops with certain merchants. Some cards offer discounts towards future purchases. The travel program offers rewards when the customer uses a particular airline, hotel chair or resort. Gift card rewards means customers earn points that are redeemed for gift cards to certain retailers or restaurants, states Bank of America.

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