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. Others, such as the Alaska Airlines Visa Signature® credit card and Free Spirit® Travel More World Elite Mastercard®, are cobranded cards offered by Bank of America.
On Nov. 5, 2022, Bank of America credit cards — including those that normally don’t earn rewards — will earn extra rewards. Specifically, you’ll earn as follows for all purchases made with your card on Nov. 5 (deemed More Rewards Day by Bank of America):
- Cash back credit cards: Earn an additional 2% cash back on purchases.
- Rewards credit cards that earn points or miles: Earn an additional 2 points or miles per dollar spent on purchases.
- Non-rewards and all other rewards credit cards: Earn 2% cash back in the form of a statement credit on purchases.
You don’t need to enroll to enjoy these bonus earnings. And these extra earnings are on top of the rewards you’d already earn on your purchases.
For example, suppose you have the Alaska Airlines Visa Signature® credit card. In that case, you normally earn 3 miles per dollar spent on eligible Alaska Airlines purchases and 1 mile per dollar spent on all other purchases. But for purchases on Nov. 5, you’d earn 5 miles per dollar spent on eligible Alaska Airlines purchases and 3 miles per dollar spent on all other purchases.
If you are part of Bank of America’s Preferred Rewards program, you’ll earn your Preferred Rewards bonus on the purchase amount as usual. You won’t earn the Preferred Rewards bonus on the incremental bonus earnings through this promotion.
Related: Customize your rewards structure: Bank of America Customized Cash Rewards credit card review
Bank of America’s More Rewards Day website lists a “representative sample of eligible cards” for additional earnings. The cards listed include popular cards like the Bank of America® Premium Rewards® credit card, Bank of America® Customized Cash Rewards credit card, Alaska Airlines Visa Signature® credit card and Free Spirit® Travel More World Elite Mastercard®.
But, Bank of America’s More Rewards Day website states, “all Bank of America Consumer and Small Business credit cards that are open with active charging privileges are eligible to earn promotional rewards on 11/5/2022.” So, any Bank of America consumer or small-business card should be eligible.
There aren’t many other restrictions or limitations you should know about. However, note that you’ll only get these extra earnings on purchases that show a transaction date of Nov. 5, 2022, on your statement. In particular, bonus earnings are in effect from 12:00 a.m. to 11:59 p.m. Eastern time.
Additionally, cash advances, balance transfers and wire transfers aren’t retail purchases and hence won’t earn rewards through this offer. Finally, it may take up to 12 weeks after Nov. 5 for your promotional cash rewards, points, miles or statement credit to post to your account.
Related: Is the Bank of America Premium Rewards Card worth the $95 annual fee?
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 you want to save any purchases for Nov. 5. For example, you might save a large purchase or do your holiday shopping on Nov. 5.
You’ll earn 2% cash back or 2 more points or miles per dollar spent on your purchases when you use a consumer or small-business Bank of America credit card on Nov. 5. But, depending on what other cards you have in your wallet, you may still be better off using a different rewards credit card for your purchases.
