Contents
The Offer
- Bank of America is offering a one-day rewards holiday on November 7, 2024 whereby all personal and business cards from Bank of America will earn an extra 2% cash back / 2x rewards points. Limit of $2,500 in spend per card
Our Verdict
This can be an interesting offer with the following cards:
- The Travel Rewards, Premium Rewards, and Unlimited Cash Rewards cards earn 1.5% on all purchases. On November 9th you’ll get an extra 2% for 3.5% total everywhere.
- This is especially interesting for top-tier Preferred Rewards relationship clients who always get 2.62% on all purchases with these cards and will get 4.62% everywhere on November 7th.
- Bank of America Customized Cash Rewards card always gets 3% on one category of your choice (or 5.25% for Preferred Rewards clients) and 2% on grocery/wholesale (3.5% for Preferred Rewards clients) on up to $2,500 in purchases. On November 7th it’ll be 2% on top of that. That’s a potential total of 7.25% on your chosen category for top-tier Preferred Rewards clients.
- Earn 3x miles per dollar everywhere on the Alaska Airlines card.
- Apply for a new Bank of America card now and you’ll hopefully have the card by November 7th when you can meet the minimum spend at increased earn rates.
Last year there was no cap, but this time there is a $2,500 cap in spend.
Hat tip to Matt J
fyi theres a mistype of nov 9 in #1 “On November 9th you’ll…”
Is it $2,500 cap per card or total?
“…up to a maximum of $50 in cash rewards, 5,000 points, or 5,000 Miles per unique Consumer credit card account or unique Small Business company.” So per card for personal accounts.
Apparently if you have both personal and business cards, they count separately, so 2x $2500 limit?
I have the Customized Cash Rewards with platinum status. My current 3% category is office supply stores, so I’d be getting 7.25% there. But since I value UR at 1.5 cents, that’s not as good as Ink Cash’s 5x UR. If I had a lot of travel spend that I could arrange to do on 11/7, it would be worth changing my 3% category. Come to think of it, that’s two days after Election Day, so a lot of people might be looking to leave the country depending on the outcome.
You can switch categories once per calendar month.
Offer was capped at $2.5k in 2023, too, unltd in 2022
Before I sock drawer my BoA premium rewards card this is opportunity to round up some leftover points from the SUB received last summer.
Currently have about ~500 points. A statement credit is based off of 2,500 point increments. I can pay my estimated taxes at an amount that hits a final cash redemption right on the nose. Have to make a Q4 estimated payment anyway….
Do those purchases need to post by Nov 7, or do we just need to make those purchases on Nov 7?
What do you think “One day only” means?
I think
Howard means to ask if BoA goes by transaction date or posting date. To answer the question, BoA goes by the former.
Thanks both!!
I would be cautious of online retailers. Last year a popular gift card site showed a transaction a day or two later for example. I recommend folks test in advance if you don’t already have experience with that retailer. In general in the prior two years I have not had too many issues with incorrect transaction dates.
So pay it like 11a?
On the Custom Cash card they actually count the posting day for the online 3% (5.25% with PH) category. But transaction date used only for card-present payments with other categories (at least for dining). That’s how I got rewards after paying for rent online with one, and dining out with another card on the last day of a quarter.
I did this last year and some things I bought on the applicable day did not become final until the next day and they refused to give me the extra points.
That’s exactly what concerns me here. We have no control over that. BOA fine print “Only Purchases that post to your account and appear on your statement with a transaction date of 11/07/2024 will qualify. ” . So no thanks/hard pass on this one.
There was no cap in 2022, but 2023 had a $2,500 spend cap