Bank of America is launching a “More Rewards Day” on November 7, 2024, which offers an exciting opportunity for cardholders to earn additional rewards. Here’s what you need to know about this promotion:
The Deal
- Date: Thursday, November 7, 2024
- Offer: Cardholders will earn an extra 2% cash back or 2 miles/points for every dollar spent on up to $2,500 in purchases per card.
- Eligibility: All personal and business Bank of America cards qualify for this promotion.
Key Terms
- Timeframe: The promotional offer is valid from 12:00 AM to 11:59 PM Eastern Time on November 7, 2024.
- Transaction Date: Only purchases that post to your account with a transaction date of November 7, 2024, will qualify.
- Non-Qualifying Transactions: Balance transfers, cash advances, fees, and interest charges will not count towards the promotional offer.
- Preferred Rewards Bonus: You will still earn the Preferred Rewards bonus on qualified purchase amounts, but it does not apply to the additional 2% bonus from this promotion.
Strategic Insights
- Maximizing Earnings: This promotion can significantly enhance your rewards on everyday spending. For example:
- Premium Rewards Card: Typically earns 2% back on travel and dining, and 1.5% on other purchases. With Platinum Honors status, this increases to 3.5% on travel/dining and 2.625% elsewhere. Combined with the promotion, this could yield 5.5% on travel/dining and 4.625% on other purchases.
- Customized Cash Card: Usually earns 3% on your chosen category and 2% on groceries, up to $2,500 combined per quarter. With Platinum Honors, this can jump to 5.25% in your category. Add the 2% promotion for a potential 7.25% back.
- Using Multiple Cards: Remember, each card has its own $2,500 cap, so if you have multiple Bank of America cards, you can maximize rewards across them.
- Online Shopping Caution: Be wary when shopping online, as some merchants may not finalize transactions until items ship, potentially causing your transaction date to fall outside the promotional period. This could mean missing out on the bonus rewards if a purchase doesn’t post on November 7.
- Ideal for Meeting Spending Requirements: If you have specific spending goals, like the $7.5K for earning bonus points with certain cards, consider utilizing the More Rewards Day to help meet those thresholds.
Conclusion
Bank of America’s More Rewards Day presents a valuable opportunity to boost your cash back or miles earnings, especially for those with Platinum Honors status. Make sure to plan your purchases strategically to maximize the benefits of this one-day promotion!