Some Bank of America cardholders now get new perks — and you can use them at home

Jun 23, 2020

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For months now, card issuers have been shifting the ways people can earn and redeem on credit cards — simply as a way to react to changing consumer behavior during the coronavirus pandemic. You can now add one more issuer to that list — Bank of America.

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The new benefits affect cardholders of both the Bank of America® Travel Rewards credit card and Bank of America® Premium Rewards® credit card. If you have either of these cards, check your email to find out if you’ve been targeted.

Related reading: Best cards for groceries during the pandemic

The information for the Bank of America® Travel Rewards credit card and Bank of America® Premium Rewards® credit card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Redemption benefit on the Travel Rewards card

Photo by The Points Guy
(Photo by The Points Guy)

Bank of America Travel Rewards points typically can only be redeemed for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars or baggage fees. One point is equal to one cent.

However, cardholders can now also use these points toward grocery, dining, and takeout through Dec. 31, 2020. This even works for previous purchases in these categories. which means any grocery or dining charges made within the past 12 months can be offset with Travel Rewards points.

Eligible cardholders should have received an email.

Day-to-day life may be a little different right now, so we’re giving you a new way to make the most of your Bank of America® Travel Rewards credit card. Now through December 31, 2020, in addition to travel-related purchases, you can redeem points for a statement credit for these qualifying purchases made within the last 12 months: Grocery store, dining, takeout

The no-annual-fee Travel Rewards card earns an unlimited 1.5 points for every $1 you spend on all purchases. And if you happen to do your banking with Bank of America, you can ramp up your points by 25% to 75%, depending on the amount you have in eligible deposits with the bank via its Preferred Rewards program.

Related reading: Amex announces limited-time perks for select Amex Membership Rewards, Delta, Marriott and Hilton cards

Statement credit on the Premium Rewards card

(Photo by The Points Guy)
(Photo by The Points Guy)

Many credit cards across issuers have provided rebates and credits to incentivize cardholders to keep spending. Bank of America is jumping on that bandwagon with the $95-annual-fee Premium Rewards card. Select cardholders have received an email for a $50 statement credit to offset dining and grocery purchases through Dec. 31, 2020. This is in addition to the $100 airline incidental statement credit that already comes with this card.

Eligible cardholders should have received an email.

Day-to-day life may be a little different right now, so we’re giving you a new way to make the most of your Premium Rewards® card. You’re now eligible to receive up to $50 as a statement credit on any combination of these qualifying purchases: Grocery store, dining, takeout

The Premium Rewards card earns an unlimited 2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.

Related reading: Citi announces COVID-19 card benefit changes

Bottom line

Bank of America is just the latest credit card issuer to unveil limited-time benefits amidst the coronavirus pandemic. Unfortunately, those with a Bank of America® Cash Rewards credit card aren’t given any extra perks, although the 3% cash back in the category of your choice and 2% cash back at grocery stores and wholesale clubs is already fairly lucrative for a no-annual-fee credit card (on the first $2,500 spent in combined choice category/grocery store & wholesale club purchases each quarter; then 1%)

We fully expect more card updates in the coming months — make sure you get the most of what’s in your wallet by keeping tabs on our guide to credit card benefit changes.

Related reading: Earn up to 5x on groceries across select Chase-issued travel cards

Featured photo by John Gribben for The Points Guy

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