Bank of America offers many credit cards with a rewards program. At the heart of the Bank of America credit card rewards points program is the WorldPoints Mall. Here, you can earn bonus points when you make purchases with your eligible Bank of America credit card, or redeem points for merchandise, travel, experiences and more.
Business accounts can use their rewards to give items or experiences to employees as gifts, which make great bonus incentives for employees who meet sales quotas or go above and beyond in their achievements. Items purchased as gifts with rewards points must be redeemed under the name of the cardholder, but the item or experience can be transferred to the recipient after the account holder has received the item.
How This Program Works
Most reward points are accumulated at the rate of one point per every $1 spent on qualifying purchases. Some cards, like the BankAmericard Power Rewards Visa Signature card, let you earn 3X points for gas, grocery and drugstore purchases for 6 months, and the Bass Pro Shops Rewards card lets you earn 4% on Bass Pro Shops-branded merchandise and 2% on retail purchases through Bass stores, catalogs or online at Basspro.com.
Other bonus points opportunities vary depending on the Bank of America rewards card you carry.
The WorldPoints Mall also which boosts the number of points earned per $1 spent — up to 10 points per dollar. The online mall includes stores that you would normally shop at, merchants such as JC Penney, HotWire.com, Victoria’s Secret, and many more. Purchases made via the online mall links add reward points from 2 points per dollar spent all the way to 10 points per dollar.
The online mall has categories listed for all shopping needs: baby and maternity, books, computers and technology, and even links to department store websites where you may browse the entire store, not just a few eligible items. On the homepage of the WorldPoints Mall you will find daily deals listed to ease your search and to let you know when there are new stores or promotions listed.
Redeeming Points
Points can be redeemed for any number of rewards, including electronics, home decor, clothing, or cash in the form of a check issued to you. Bank of America will direct deposit cash, as well. You may choose to gift your rewards points to your favorite charity (if they are participating recipients in the WorldPoints program).
Redeeming your points is just as easy as accumulating them – just visit the Bank of America WorldPoints program website and choose the ‘Redeem Points’ tab at the top of the content section of the webpage. Here you will find large categories of items for you to choose from. As with the WorldPoints Mall, there are sections for children, your office, pets, and home, plus many more. Bank of America has over 1800 items available for you to choose from!
If you choose cash for your reward, this program (BoA WorldPoints) that allows you to begin redeeming for cash with as little as 2,500 reward points. That is one of the lowest points accumulations needed for cash rewards.
Be careful though — you’ll be shorting yourself if you do redeem for cash at this low rate. Rather than getting a penny for each point, your 2,500 points earn you only $12.50 — a value of 0.5 cents per point.
In order to get a penny per point, you’ll need to wait until you get 5,000 points, which you can redeem for a travel credit of $50.
There is no cap on how many rewards you can earn and redeem throughout the year(s). You may choose to let the points accumulate for years if you wish, then redeem for a large purchase with no penalty.
Yes, there are better rewards programs out there, but many Bank of America rewards cards carry no annual fee, and are available to people with a good credit rating, making them easier to get than, for instance, an American Express Platinum or Discover it credit card.
Last Updated: November 5, 2015
