Reward points for bank of america credit card Trip Insurance: It's always important to have trip insurance since you never know when your travel plans will go awry. This card provides reimbursement of up to $5,000 per person, per trip, for the unused, prepaid, nonrefundable travel expenses including passenger fares, tours and hotels if you have to cancel due to a covered reason. And if your flight is delayed for more than 12 hours, you're eligible for reimbursement of $500 in expenses per ticket. With the Premium Rewards card, you'll receive 50,000 bonus points after spending $3,000 in the first 90 days of account opening. These points have a fixed value of 1 cent each, meaning that 50,000 points are worth $500. Click to share on Twitter (Opens in new window). The final screen will show a confirmation that your redemption request has been submitted, along with all the details and a transaction ID number (which you should note just in case there are any issues). It can take up to five business days for the redemption to appear, so don't panic if you don't see it immediately. If you have the Bank of America Premium Rewards credit card, you have a few different options for redeeming your points. You can use them to book travel, to get cash back or to buy gift cards. Before we break down the earn for this card, it's important to understand Bank of America's Preferred Rewards program. Those who hold considerable assets in a BofA or Merrill Lynch account including retirement or investment accounts are eligible for increased rewards when spending on the Premium Rewards card. To enroll in BofA Preferred Rewards you'll need: Click to share on Twitter (Opens in new window). There are three tiers in Preferred Rewards, and your tier is based on how much money you have in your accounts. This will determine your earning with the Premium
Rewards card. And for those who have been eyeing a straight-up cash-back card, this could be your best option. Simply put, it'll be improving your bottom line either for you personally or for your business. You don't have to waste time figuring out how to get the most value out of your points, as the stressfree redemptions make this an easy card to manage. The Bank of America Travel Rewards credit card offers a solid travel rewards program for the fee-averse. Click to share on Twitter (Opens in new window). Life Term life insurance quotes Best life insurance Life insurance reviews Life insurance calculator Rates for healthy vs. sick Term vs. whole See all. With cash-back credit cards, you generally earn one cent, as opposed to a fraction of a cent, for every dollar you spend sometimes up to 5 cents for every dollar with select types of purchases. More importantly, cash back rewards are actually tied to a real amount of currency. No annual fee and no foreign transaction fees Generous flat rewards rate on all purchases Flexibility to book travel how you want. Another thing I like about this card is that it's zero-stress and consumes very little time. You don't need to jump through hoops to find award availability and you don't have to go to a specific portal if you want to use your points to pay for your gym. Since points are worth the same no matter what you redeem for, you're not penalized for redeeming for cash back. You just redeem for whatever you want. Ways to save How to save money Trick yourself into saving How to cut the cable cord Lower your cable bill Lower your cell phone bill Save on electric bills How to save on flights. Say you spent $10,000 on your card in a year. That would usually earn you 15,000 points, worth $150 at a penny a point. If you were a Gold member in Preferred Rewards, your bonus would push your earnings to 18,750 points ($187.50). If you were Platinum, 22,500 points ($225). For Platinum Honors, 26,250 ($262.50). Flexible rewards. The Bank of America Travel Rewards credit card isn't tied to any particular airline or hotel chain. Book travel any way you
want, with no restrictions and no blackout dates, and then use points to wipe out the cost on your statement. Bank of America also has one of the broadest definitions of "travel" of any major issuers. You can use points to get credit for airfare, hotel stays, cruises and car rentals, of course but also for things like campgrounds, art galleries, amusement parks, carnivals, circuses, aquariums and zoos. Editorial Note: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. People Tweet Their #MiracleMoment In Honor of Flight 1549's 10-Year Anniversary. Making money How to make money How to find fast cash Government free money Making money via online surveys Real work-fromhome jobs. Talking Points Episode 10: Getting Familiar With United Airlines' Updated App. This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page. The right rewards-to-fees ratio Even more so than with general rewards cards, you'll need to make sure that you shop at the store enough the make the card worth it. How often will you make purchases eligible for rewards, and will you use the card often enough to offset any fees? If you're going to use credit cards, you should try to maximize the rewards and benefits you'll get. Most people will benefit from using a combination of at least two rewards cards: one for very common purchases, like gas and groceries, and another general-use card for less common purchases of other types. Storespecific points that can only be earned at the retailer that provides the card. Credit Card Insider receives compensation from some credit card issuers as advertisers. Advertiser relationships do not affect card ratings or our Best Card Picks. Credit Card Insider has collected card information independently. Issuers did not provide the details, nor are
they responsible for their accuracy. Learn more about how we rate cards. They are easy to get and can help you build credit: Store cards are typically very easy to get because of their high interest rates (usually around 25%) and low credit limits (usually not more than $1,000). This means that you can often get one even if you have fair or poor credit, giving you an opportunity to build up your score by using the card responsibly. The low credit limit can help keep your spending down, and the high interest rates provide a good incentive to pay off your bill. Very high interest rates: Most store cards have interest rates around 24-25%, which is about 10 percentage points higher than the industry average (15%). Beware this high APR: while many people open a store credit card to save money, paying interest on a balance as you revolve it from month to month can quickly negate any savings. The Amex Blue Cash Preferred gives 6% cash back at grocery stores, and 3% cash back at gas stations. The Citi Double Cash gives 2% cash back on every purchase you make, no matter where you are. Video: Store Credit Cards 3 Things You Should Know Before Applying. Cards with rotating reward categories, offering rewards on different types of purchases every 3 months. Earn rewards at your favorite stores: If a store you frequently shop at offers a credit card, it's worth considering how much you might save by using it. Many offer as much as 5% cash back, like the My Best Buy Credit Card, or special financing deals, like the Sears Card. Don't spend more than you can pay off immediately: Maintaining a high balance on the card will damage your credit and cost you money in the long run. Pay off the entire balance each month well before the due date to avoid the possibility of a delay making your payment late, interest charges, and a higher credit utilization. Limited in use: Many credit cards can only be used at the store they are branded with. Some, however, are cobranded and can be used anywhere the card network is accepted, like the Macy's American Express credit card. So, you can use the Blue
Cash Preferred every time you buy gas and groceries, getting quite a bit of cash back. For every other purchase you make, the Double Cash card will give you 2% cash back. Where do you shop the most? Do you buy gas and groceries every month? Do you shop at a wide variety of retailers, or do you tend to stick with major sites like Amazon?. Credit Card Insider's Picks for the Best Store Credit Cards. Travel cards offer some of the best rewards and benefits among credit cards, helping cardholders save hundreds of dollars per year while having a better time on the road or in the air. The better ones also tend to have annual fees, sometimes into the hundreds of dollars. Each credit card application lowers your credit score, so loading up on credit cards all at once can cause your score to dip. It's best to add cards slowly and allow your credit to build over time. When it comes to finding a rewards card that suits your lifestyle, the first thing you should do is analyze your spending habits. These benefits include free checked bags and complimentary Wi-Fi when flying, or access to priority boarding. In hotels, the perks include free stays, access to gyms and spas, and express checkout. For most people, two or three credit cards will be enough. But for anyone who travels fairly often, at least a few times per year, another card or two might be a good idea. This is actually a pretty good setup to use if you want to get the most rewards for every purchase you make, with the least amount of hassle.