Where do I redeem Bank of America Cash rewards?

Bank of America offers a few different ways for cardholders to redeem the reward points that they earn using the Bank of America Cash Rewards card. First, a little bit about the card.

Bank of America Cash Rewards Card

Cardholders are able to pick the category of their choosing, ie: gas, and receive 3% cashback on all purchases within that area. They will also receive 2% cash back for purchases made at grocery stores and wholesale clubs, and 1% cash back for all other purchases. These rewards apply for up to $2,500 in purchases each quarter.

Preferred rewards members can receive up between 25% and 75% more cashback on their purchases, allowing for a very generous cashback program.

With all of these cashback earning options, it is easy for cardholders to receive plenty of cashback from their transactions. Therefore, it is imperative for all cardholders to know how, when, and where they can redeem these rewards for cash.

How to Redeem Points

Cardholders have the ability to redeem their cash back rewards in one of three ways:

1. On their mobile device: sign in to your Mobile Banking app and click on the View My Rewards link 
2. On the Bank of America website: sign into online banking and click the Rewards tab
3. By phone: call 800.434.8313 and select option 2

This makes it effortless for cardholders to redeem their cashback points for cash since they can achieve this act on the go.

Redeeming Points Options

Bank of America provides its cardholders with the flexibility to redeem their cashback points in any amount at any time. This can be in the form of credit statements, direct deposit into one of your checking or savings accounts, or for credit to an eligible Merrill account. However, credit redemption for a 529 account with Merrill requires a minimum of $25. 

You are also able to set up automatic redemptions, making the process very simple for cardholders to receive their cash back. Automatic redemptions can start at $25, but you are able to set up automatic redemptions for any higher value as well.