How to Redeem Bank of America Customized Cash Rewards Credit Card Points — Best Options (2026)
2 redemption options compared. Find the best value for your Cashback.
Best Redemption Strategy
Redeem as cash or statement credit. The real power is choosing your 3% category and stacking with Preferred Rewards for up to 5.25% back on your chosen category.
All Redemption Options
Cash Back / Statement Credit
Best ValueRedeem as a statement credit or direct deposit (minimum $25 for check, no minimum for statement credit)
Value per point: 1 cent per reward dollar
Deposit to BofA Account
Best ValueDeposit directly to your Bank of America checking or savings account
Value per point: 1 cent
Redemption Portal
Open Bank of America Rewards Portal →Understanding Point Value
3% cash back on a category you choose (gas, online shopping, dining, travel, drug stores, or home improvement/furnishings) on the first $2,500 in combined choice category/grocery/wholesale purchases per quarter, then 1%. 2% at grocery stores and wholesale clubs. 1% on everything else. No annual fee. Preferred Rewards boosts rates by up to 75%.
Frequently Asked Questions
What is the best way to redeem Bank of America Customized Cash Rewards Credit Card points?
Redeem as cash or statement credit. The real power is choosing your 3% category and stacking with Preferred Rewards for up to 5.25% back on your chosen category.
Can I convert Bank of America Customized Cash Rewards Credit Card points to cash?
Yes, cashback redemption is available but typically offers lower value per point compared to other options.
Is there a minimum points requirement to redeem Bank of America Customized Cash Rewards Credit Card points?
Minimum redemption requirements vary by option. Check the Bank of America rewards portal for specific minimums for each redemption type.
Do Bank of America Customized Cash Rewards Credit Card points expire?
Cash rewards do not expire as long as your account is open.