Earn Bonus Points, Miles, or Cash Back

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• Bank of America will run its first-ever More Rewards Day on Saturday, November 5, 2022.
• All Bank of America personal and small business credit cards automatically qualify; there’s no registration required.
• You’ll earn an extra 2% cash back or 2 miles/points per dollar on top of your normal earning rates.
• Read Insider’s guide to the best rewards credit cards.

The holiday shopping sprint is just around the corner and now could be the perfect time to get a head start. On November 5, 2022, Bank of America will celebrate its first More Rewards Day in celebration of its customers’ loyalty — and it could save you tons of cash this holiday season. 

For just one day, all BofA consumer and small-business cardholders will automatically earn bonus rewards on all purchases, so you won’t even need to lift an extra finger to start earning big.

Here’s all you need to know about Bank of America’s first More Rewards Day to maximize your earnings.

We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

Earn bonus 2% cash back or 2x miles/points on Bank of America More Rewards Day

Bank of America More Rewards Day begins November 5, 2022, starting at 12 a.m. Eastern Time, and ends the same day at 11:59 p.m. Eastern Time. All Bank of America cards (consumer or small business credit cards) automatically earn a bonus 2% cash back/2 points per dollar/2 miles per dollar on top of their normal earning rates. There’s no limit to the amount you can earn.

It doesn’t matter what type of rewards you earn, or how or where you spend. All folks with eligible Bank of America credit cards can participate. But if you’re a Bank of America Preferred Rewards member, you’ll only earn your Preferred Rewards member bonus on the purchase amount, and not the bonus earning.

Another thing to note is if you hold a Bank of America credit card with a cap on a specific bonus spending category’s rewards rate, those limitations will still apply on More Rewards Day. For example, the Bank of America® Customized Cash Rewards Credit Card
earns 3% and 2% cash back in eligible categories, but only on up to $2,500 per quarter combined (then 1%). But don’t let that discourage you as purchases earning 1% cash back (or 1x points/miles) will still earn extra bonus rewards (a 1% cash back rate would then become a 3% cash back rate). 

If you’ve been holding off on buying something really expensive (whether for yourself or as a gift), Bank of America More Rewards Day is a perfect time. 

Let’s break this down for some popular cards: 

How to take advantage of More Rewards Day with the BofA Customized Cash Rewards Card

The Bank of America® Customized Cash Rewards Credit Card is a great card for folks wanting to customize their own bonus categories. Normally, it earns 3% cash back in a customized category (either gas, online shopping, dining, travel, drug stores, or home improvement/furnishing), 2% at grocery stores and wholesale clubs, and 1% on all other purchases. 

Remember that bonus rewards in the 3% and 2% categories are capped after the first $2,500 spent each quarter in combined purchases (then 1% cash back). 

You can change which customized category you’ll earn your highest cashback rate in once every month. That means if you plan ahead and change your customized category to your preferred spending category (such as to online shopping travel, or home improvement/furnishing) for More Rewards Day, you can refill your pockets fast with cash while holiday shopping. 

How to take advantage of More Rewards Day with the BofA Premium Rewards credit card

The Bank of America® Premium Rewards® credit card
is a premium travel card that earns unlimited points on all purchases, and charges a $95 annual fee. Normally, the card earns 2 points per dollar spent on travel purchases, 2x points on dining purchases, and 1.5x on all other purchases. 

Bank of America More Rewards Day is a great time for folks in the midst of planning their next trip, especially if you’re traveling this holiday season, to go ahead and buy those plane tickets so you can pocket those extra points for future travel expenses. 

You can redeem points for flight bookings through the Bank of America travel portal (and still earn frequent flyer miles and elite credits). You can also redeem points for cash back, a deposit into your eligible Bank of America account, statement credits, gift cards, or credit to eligible Merrill accounts (including 529 accounts).

How to take advantage of More Rewards Day with the Alaska Airlines Visa Credit Card

The Alaska Airlines Visa® Credit Card
is a terrific card for folks who frequently fly Alaska Airlines, or use miles to book through partner airlines. Normally, the Alaska Airlines Visa® Credit Card earns 3 miles per dollar spent on eligible Alaska Airlines purchases (including tickets, flight subscriptions, inflight food and beverage purchases, cargo purchases, and vacation packages), and 1x miles on all other purchases. 

If you’re saving up miles for your next big trip, the More Rewards Day bonus can help get you to your goal faster. Also, if you already have a trip planned, this is the perfect opportunity to browse the vacation packages, flight subscriptions, and flight upgrades to enhance your vacation experience. 

Who is eligible to participate in More Rewards Day?

All personal and business Bank of America credit cards are eligible to earn the More Rewards Day bonus on November 5, 2022. That includes co-branded cards and non-reward earning cards. 

Bank of America lists the following cards as examples, but even if your card isn’t on the list, it will still earn bonus rewards, as long as it is open with active charging privileges on November 5. 

Cash back personal and business credit cards include:

Points rewards personal and business credit cards include:

• Bank of America® Travel Rewards credit card
  , Bank of America® Premium Rewards® credit card, Bank of America® Premium Rewards® Elite credit card, BankAmericard® Power Rewards®, MERRILL+®, MERRILL+® Elite, Bank of America® Royal Caribbean®, Bank of America® Celebrity Cruises®, Norwegian Cruise Line®, Bank of America® Sonesta®, Bank of America® Beaches®, Bank of America® Sandals®, Bank of America® Virgin Atlantic®, Bank of America® Free Spirit®, Bank of America® Allegiant®
• Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card
  , WorldPoints® Rewards for Business credit cards

Miles rewards personal and business credit cards include:

Non-rewards and other rewards credit cards include:

• BankAmericard®, BankAmericard® Better Balance Rewards®, Bank of America® Amway®
• Bank of America® Platinum Plus® Business credit card