bofa more rewards day: Get the Most Out of Your Rewards with Bank of America

Bank of America's More Rewards Day is a unique opportunity to maximize your rewards earnings. You can earn 3x the points on gas and grocery purchases, which can add up quickly.

To take advantage of this offer, you need to have a Bank of America credit card and make purchases on More Rewards Day. This can be a great way to stock up on essentials and earn extra points.

The 3x points offer applies to net purchases, not just the amount you spend, but also the amount you pay off. This means you can earn 3x points on the entire purchase, not just the balance.

By using your Bank of America credit card for everyday purchases on More Rewards Day, you can earn a significant amount of points.

To participate in the BofA More Rewards Day, you simply need to spend on a Bank of America credit card on November 7, 2024, from 12:00 a.m. to 11:59 p.m. ET.

Any transaction that typically earns points or cash-back is eligible, so you can make purchases in any category you want.

You'll need to physically swipe your card or hit "purchase" online on November 7, even if the purchase posts later.

A purchase made before November 7 but posting on that date won't count for the offer, so be sure to make your purchase on the actual date.

The bonus points will be posted to your account about 12 weeks after the promotion has ended.

If you're a Bank of America Preferred Rewards member, you'll earn your regular Preferred Rewards bonus on your purchases, but not on the incremental bonus earned on this promotional day.

On Bank of America's More Rewards Day, you can earn extra rewards on your purchases. This includes 2% cash back, 2 points per dollar, or 2 miles per dollar on purchases up to $2,500, capped at a $50 value.

To maximize your rewards, consider holding a Bank of America card that earns points or miles. For example, if your card earns 3 miles per dollar, you'll earn 5 miles per dollar on November 7.

Additionally, if you hold a cash-back card, you'll earn an extra 2% as cash-back on November 7, up to $50 cash-back. This is on top of the standard cash-back rate you earn.

Here's a breakdown of the rewards and benefits you can expect:

As you can see, the rewards and benefits increase as you move up the tiers. The Platinum Honors tier, for example, offers a 75% rewards bonus on credit cards, while the Diamond Honors tier offers a 0.375% interest rate reduction on mortgages.

Bank of America's Preferred Rewards program also offers discounts on mortgages and car loans. With the Gold tier, you'll get $200 off origination fees, while with the Platinum tier, you'll get $400 off origination fees.

The Bank of America Preferred Rewards program is a great way to get more out of your banking experience. It's designed for loyal customers who have a significant amount of money held at the bank.

The program has five tiers, each with a different minimum balance requirement. These tiers are Gold, Platinum, Platinum Honors, Diamond, and Diamond Honors. The higher your tier, the more discounts and benefits you can receive.

You'll get waived select service and monthly maintenance fees, rewards bonuses on eligible credit cards, and interest rate discounts on auto loans and home equity loans. You'll also get discounts on foreign currency orders, reduced mortgage origination fees, and interest rate boosts on Bank of America Advantage Savings accounts.

Here are the benefits you can expect at each tier:

The Diamond tier is where you want to be if you travel often and complete transactions abroad. It offers unlimited fee-free international transactions and ATM use. You'll also get exclusive lifestyle benefits, including discounts and incentives on travel, fashion brands, dining, golf courses, spa resorts, and vehicle buying and leasing.

To be eligible for the Bank of America Preferred Rewards program, you'll need to have a Bank of America personal checking account and a three-month combined average daily balance of at least $20,000 in eligible Bank of America and Merrill accounts.

You can qualify for the program by having a considerable amount of money held at the bank, with the minimum balance requirement varying depending on the tier you're aiming for. The options start with the Gold tier, which requires a minimum three-month average combined balance of $20,000, up to the Diamond Honors tier, which requires a minimum combined balance of $10 million.

Here are the specific balance requirements for each tier:

To get the most out of the program, aim to reach the higher tiers, as the benefits and rewards increase with each level.

To be eligible for Bank of America's Preferred Rewards program, you must have a Bank of America personal checking account and a three-month combined average daily balance of at least $20,000 in eligible Bank of America and Merrill accounts.

The program is separated into five tiers, each requiring a different three-month combined average daily balance. The higher you ascend in the Preferred Rewards tiers, the more rewards and incentives you receive.

You can earn rewards bonuses on eligible credit cards through the program, which range from 25% to 75% depending on your tier. The list of eligible credit cards includes Bank of America Customized Cash Rewards credit cards, Bank of America Unlimited Cash Rewards credit cards, and Bank of America Travel Rewards credit cards, among others.

The following credit cards are eligible for the program:

To qualify for the rewards bonus, you must have a Bank of America personal checking account and a three-month combined average daily balance of at least $20,000 in eligible Bank of America and Merrill accounts.

Opening a savings account is a great way to start building a safety net and earning some interest on your money. Bank of America offers the Advantage Savings account, which has a standard interest rate of 0.01%-0.02% as of November 1, 2024.

To boost your interest rate, consider joining the Preferred Rewards program, which can give you a 5% to 20% interest rate boost on your Advantage Savings account.

As a Preferred Rewards member, you'll have access to higher interest rates, making it a worthwhile consideration.

To qualify for the Bank of America Preferred Rewards program, you'll need to have a personal checking account and a combined average daily balance of at least $20,000 in eligible Bank of America and Merrill accounts over a three-month period.

The program is separated into five tiers, each requiring a different three-month combined average daily balance. The higher you ascend in the tiers, the more rewards and incentives you'll receive.

To give you a better idea of the program's structure, here's a breakdown of the five tiers:

To earn the Preferred Rewards bonus, you'll need to make qualified purchases on November 7, 2024, with a transaction date of ET.

Bank of America's More Rewards Day is a strategic move to boost consumer spending and loyalty ahead of the holiday season, with 40% of consumers reporting they use rewards to cover holiday expenses.

The promotion offers additional rewards of 2% cash back, 2 points per $1, or 2 miles per $1 on purchases up to $2,500, capped at a $50 value. This is a significant incentive, especially considering the average consumer plans to spend $2,100 on holiday expenses this year, a 7% increase from last year.

Consumers can take advantage of this promotion by swiping their Bank of America card on November 7 for bonus rewards. The bank is likely counting on increased credit card usage and potentially capturing a larger share of holiday spending.

Last year's $26 million in additional rewards distributed suggests significant engagement, which could translate to higher transaction volumes and fee income for the bank.

To take advantage of the BofA More Rewards Day, you'll want to use an eligible Bank of America credit card. These cards include the Bank of America Customized Cash Rewards credit card, Bank of America Unlimited Cash Rewards credit card, and several others.

You can earn an additional 2% cash-back on all purchases up to $2,500 on November 7, on top of your regular cash-back rewards. For example, if you usually earn 1% cash-back, you'd earn 3% back on November 7.

The Bank of America Preferred Rewards program tiers offer reward bonuses on eligible credit cards, ranging from 25% to 75%. To see which tier you're eligible for, check your rewards details.

Some cards, like the Bank of America Customized Cash Rewards credit card, earn 3% on select purchases, while others, like the Bank of America Travel Rewards credit card, earn 2 miles per dollar spent.

You can earn an additional 2 points or miles for every dollar spent on eligible credit cards, up to 5,000 points or miles. For example, if your card earns 3 miles per dollar, on November 7, you'd earn 5 miles per dollar.

Here are some eligible Bank of America credit cards: