Editor’s note: This is a recurring post, regularly updated with new information.
Bank of America offers a large portfolio of cards. Some carry Bank of America branding in their names, such as the Bank of America® Customized Cash Rewards credit card and the Bank of America® Premium Rewards® credit card. Others, such as the Alaska Airlines Visa Signature® credit card, are cobranded cards offered by Bank of America. Regardless of your Bank of America card (or cards), you should know that More Rewards Day is returning for its third year.
More Rewards Day is when Bank of America credit cards — including those that normally don’t earn rewards — will earn extra rewards between midnight and 11:59 p.m. EST on Nov. 7. Specifically, you’ll earn as follows for purchases made with your card on More Rewards Day:
- Cash-back credit cards: Earn an additional 2% cash back on the first $2,500 in purchases.
- Rewards credit cards that earn points or miles: Earn an additional 2 points or miles per dollar spent on the first $2,500 in purchases.
- Nonrewards credit cards: Earn 2% cash back as a statement credit on the first $2,500 in purchases.
Related: Is the Bank of America Premium Rewards Card worth the $95 annual fee?
You don’t need to enroll to enjoy these bonus earnings, which are on top of the rewards you already earn on your purchases. The $2,500 purchase limit for bonus earnings on More Rewards Day is “per each unique account or each unique small business company,” according to the press release.
For example, suppose you have an Alaska Airlines Visa Signature card. In that case, you normally earn 3 miles per dollar spent on eligible Alaska Airlines purchases; 2 miles per dollar spent on eligible gas, electric vehicle charging station, cable, streaming services and local transit purchases; and 1 mile per dollar spent on all other purchases.
However, for up to $2,500 in purchases on More Rewards Day (Nov. 7), you’ll earn 5 miles per dollar spent on eligible Alaska Airlines purchases; 4 miles per dollar spent on eligible gas, EV charging station, cable, streaming services and local transit purchases; and 3 miles per dollar spent on all other purchases.
If you are part of the Bank of America Preferred Rewards program, you’ll earn your Preferred Rewards bonus on the purchase amount as usual. However, you won’t earn the Preferred Rewards bonus on the incremental bonus earnings through this promotion.
According to the Bank of America More Rewards Day website, all open and active Bank of America consumer and small-business cards should be eligible, but you’ll need to keep your account open and active through when the extra rewards reach your account. The frequently asked questions section of the More Rewards Day website notes that it may take two billing cycles after the promotional offer ends to see the extra rewards in your account.
Finally, only purchases that post to your account and appear on your statement with a transaction date of Nov. 7 will qualify. So, keep this in mind if you’re purchasing items for which the merchant isn’t likely to charge you the same day. For example, some online merchants don’t charge you until they ship your purchase.
Related: The best credit cards for online shopping
Bottom line
You may have a Bank of America card even if it doesn’t say Bank of America on the front. So, check the cards in your wallet and consider whether there are any big purchases you want to make or holiday shopping you want to do on More Rewards Day.
“As our clients prepare for the holidays, we celebrate them with More Rewards Day. Whether they are shopping for gifts, booking travel or purchasing everyday essentials, this promotion allows our cardholders to maximize their rewards and get more value on their spending to kick off the season,” Mary Hines Droesch, head of product for consumer, business, and wealth management banking and lending at Bank of America, said in a press release.
You’ll earn 2% more cash back or 2 more points or miles per dollar spent on up to $2,500 in purchases when you use a consumer or small-business Bank of America credit card on More Rewards Day. But, depending on what other cards you have in your wallet and whether you’re working toward any minimum spending requirements, you may still be better off using a different rewards credit card for your purchases.
