Bank of America Premium Rewards Credit Card Reward Points: Value, Check & Redeem Guide (2026)
Point Value
1¢ per point (1.75¢ with Preferred Rewards)
Expiry
No expiry while account is open
Redemption Options
3
Last Updated
24-Mar-2026
Bank of America Points Value in 2026
Points worth 1 cent each. Bank of America Preferred Rewards members can get 25-75% bonus on earning rates, boosting effective value to 1.25-1.75 cpp. Annual fee $95. $100 annual airline incidentals credit.
How to Check Your Bank of America Points Balance
Bank of America Mobile App
- 1Open the Bank of America app
- 2Select your Premium Rewards card
- 3View your points balance on the card details screen
BankofAmerica.com
- 1Log in to bankofamerica.com
- 2Select your Premium Rewards card
- 3Click 'View Rewards' to see points balance and redemption options
Customer Care
- 1Call Bank of America credit card services
- 2Authenticate your identity
- 3Ask for your rewards points balance
Number: 1-800-732-9194
How to Redeem Bank of America Points
Cash Back / Statement Credit
Best ValueRedeem for cash back as a statement credit or deposit
Value: 1 cent/point
Travel Bookings
Best ValueBook travel through the Bank of America travel center
Value: 1 cent/point
Gift Cards
Redeem for gift cards from various retailers
Value: 1 cent/point
Best Redemption Strategy
All redemption methods give 1 cpp. The real value comes from Preferred Rewards bonus on earning. If you have $100K+ with BofA/Merrill, you get 75% bonus on points earned — making this a 3.5% travel and 2.625% everywhere else card.
Expiry Policy
Points do not expire as long as your account is open.
Exclusions
- ×No transfer partners — points can only be used for cash, travel, or gift cards
- ×$100 airline incidentals credit is limited to one airline selected at the start of the year
- ×3% foreign transaction fee
Pro Tips
- 💡Earn 2X on travel and dining purchases
- 💡Earn 1.5X on all other purchases
- 💡$100 annual airline incidentals credit (baggage fees, seat upgrades, in-flight purchases)
- 💡Preferred Rewards Platinum Honors (100K+ BofA/Merrill balance) boosts earning by 75%: 3.5X travel/dining, 2.625X everything else
- 💡TSA PreCheck or Global Entry application fee credit every 4 years
- 💡No foreign transaction fees
- 💡If you bank with BofA and have significant assets there, this becomes one of the best value cards available
- 💡Pair with BofA Customized Cash for 5.25% on chosen category (with Preferred Rewards)
Related Guides
Information is for reference only. Point values and policies may change. Always verify with Bank of America official sources. Last updated: 24-Mar-2026.