You’ve got a Bank of America card with points piling up. Maybe it’s the Travel Rewards card, maybe the Premium Rewards. You see the balance growing, but when you try to book a flight, the portal shows 25,000 points for a $250 ticket. That’s 1 cent per point. Is there a better way?
I’ve been using Bank of America travel rewards for over five years. I’ve booked flights to Japan, hotels in Portugal, and rental cars in Iceland. I’ve made mistakes. I’ve also found the tricks that actually work. Here’s what I’ve learned.
What Your Points Are Actually Worth
Bank of America points are simple. Each point equals 1 cent when redeemed for travel. That’s it. No complicated transfer partners. No blackout dates. But that simplicity hides a problem.
Most people redeem through the Bank of America Travel Center. You search for a flight, see the cash price, and the portal shows the point equivalent. A $300 flight costs 30,000 points. It’s clean. It’s also the worst value you’ll get for your points.
The Preferred Rewards Multiplier
This is where Bank of America beats almost every other card issuer. If you have a Bank of America checking or savings account, you qualify for Preferred Rewards. At the Gold tier ($20,000 combined balance), you get a 25% bonus on credit card rewards. Platinum ($50,000) gets 50%. Platinum Honors ($100,000) gets 75%.
With Platinum Honors, every dollar spent on travel and dining with the Premium Rewards card earns 3.5 points instead of 2. That’s 3.5% back on travel. But here’s the catch — the redemption value doesn’t change. Those 30,000 points still buy a $300 flight. The multiplier only helps you earn faster, not redeem better.
What I Actually Do
I never use the travel portal for flights. Instead, I redeem points as a statement credit against travel purchases I’ve already made. Any charge coded as travel — flights, hotels, rental cars, even Uber — qualifies. I book directly with airlines or hotels, get the best price, then use points to pay myself back.
This avoids the portal’s inflated prices. I once found a United flight from Chicago to Tokyo for $680 on United’s site. The same flight on the Bank of America portal was $760. Redeeming points directly saved me $80.
The Cards That Earn the Most Points
Not all Bank of America cards earn at the same rate. Here’s the breakdown of what I use and why.
| Card | Earning Rate (Base) | Best For | Annual Fee |
|---|---|---|---|
| Bank of America Premium Rewards | 2x travel/dining, 1.5x everything else | Travelers with Preferred Rewards | $95 (waived for Platinum Honors) |
| Bank of America Travel Rewards | 1.5x everything | No-fee simplicity | $0 |
| Bank of America Customized Cash Rewards | 3x on chosen category | Gas or online shopping | $0 |
I carry the Premium Rewards card as my daily driver. At Platinum Honors, that’s 3.5x on travel and dining. I pair it with the Customized Cash Rewards card set to online shopping (3x base, 5.25x with Platinum Honors) for everything I buy on Amazon or through PayPal.
The Travel Rewards card is fine for someone who doesn’t want to think about categories. But if you have $100,000 in assets at Bank of America, the Premium Rewards card pays for itself in two months of normal spending.
Why I Stopped Using the Travel Portal
I used the Bank of America Travel Center for two years. I thought it was the only way to redeem points. I was wrong.
Here’s what I discovered. The portal is powered by Expedia. Flight prices are often $20-$100 higher than booking direct. Hotel prices are worse — I’ve seen $50 differences on mid-range hotels. And if something goes wrong (cancellation, delay, lost bag), you’re dealing with a third party, not the airline.
I booked a hotel in Lisbon through the portal. The hotel had my reservation, but when I needed to change dates, the hotel said “talk to Expedia.” Expedia said “talk to Bank of America.” Bank of America said “we can’t modify bookings.” I lost $120.
Now I book everything direct. I use points to erase the charge after it posts. The redemption rate is still 1 cent per point. But I get better prices, loyalty points from the airline, and direct customer service.
How to Maximize Statement Credit Redemptions
Statement credits are the best way to use Bank of America points. But there’s a timing trick most people miss.
Bank of America only lets you redeem points against travel purchases made in the last 12 months. So don’t hoard points for years. Every 6 months, I review my travel charges and redeem whatever points I have. This keeps my balance low and ensures I never lose value to devaluation.
- Book travel directly with the airline or hotel.
- Wait for the charge to post (usually 1-2 days).
- Log into Bank of America rewards portal.
- Select “Redeem for statement credit.”
- Choose the travel charge you want to erase.
- Redeem points at 1 cent each.
One warning: not all charges code as travel. I once booked a hostel through Hostelworld, and it coded as “online travel agency” instead of “travel.” Bank of America rejected the redemption. I had to call and argue for 20 minutes. Now I only book with major airlines, hotel chains, or directly with the property.
The Alternative Cards I Consider
Bank of America rewards aren’t for everyone. If you want to transfer points to airline partners, look at Chase Sapphire Preferred (60,000-point bonus after $4,000 spend) or American Express Gold (4x on dining). These let you move points to United, Air Canada, or Marriott for potentially higher value.
But here’s why I stick with Bank of America. The Preferred Rewards multiplier makes the earning rate unbeatable for high spenders. At Platinum Honors, I earn 3.5x on travel and dining. That’s 3.5% back. Chase Sapphire Preferred earns 2x on travel and 3x on dining. Even with transfer bonuses, I’d need to get 1.75 cents per point to match my Bank of America rate. That’s possible with business class flights, but rare for economy.
If you fly economy and want simplicity, Bank of America beats Chase and Amex. If you fly business class and want to optimize every point, get a transferable currency card.
Common Mistakes That Cost You Money
I’ve made every mistake on this list. Don’t repeat them.
Mistake 1: Hoarding points. Bank of America doesn’t devalue often, but it happens. In 2026, they removed the 25% bonus on travel redemptions for Preferred Rewards members. That was a direct 25% loss for anyone holding points. Use them within 12 months.
Mistake 2: Using the portal for hotels. Hotel prices on the portal are consistently 10-20% higher than booking direct. You also lose hotel loyalty points and elite night credits. Never book a hotel through the Bank of America portal.
Mistake 3: Ignoring the Preferred Rewards program. If you have $20,000 in a Bank of America checking account, you’re leaving 25% more points on the table. Move your emergency fund to Bank of America. The boost pays for itself.
Mistake 4: Redeeming for gift cards. Gift cards give you 0.8 cents per point or less. That’s a 20% loss compared to travel. Don’t do it.
Mistake 5: Thinking 1 cent per point is bad. It’s not. It’s simple, predictable, and works with any travel purchase. Chase and Amex points can be worth more, but only if you jump through hoops. Bank of America points are worth exactly what they say.
I’ve redeemed over 200,000 points in the last three years. Every single one went to statement credits for flights I booked direct. Every trip was free. That’s the goal.