Bank of America Offers Credits and New Redemptions During Pandemic
Most credit card issuers have made changes to their products during the pandemic, offering new earning opportunities and shifting credits to work on essential purchases.
Amex for example added streaming and wireless credits to the Platinum Card among other things and Business Platinum cardholders received wireless and additional Dell credits. The Amex Hilton Aspire Card earns 12x at supermarkets and food delivery purchases count towards the $250 Hilton resort credit. The Amex Marriott Bonvoy Card earns 6x at supermarkets now and food deliveries count towards the $300 travel credit. Amex also increased earning for Delta cards. Citi made similar changes for the Prestige card, where supermarket and restaurant purchases count towards the $250 travel credit. Chase also launched new benefits this month for Chase Sapphire Reserve cardholders. With the ‘Pay Yourself Back’ program, each point is worth 1.5 cents towards a statement credit used to offset purchases at grocery stores, home improvement stores and dining establishments. Annual fee was lowered back to $450 and the card earns 5x on groceries. US Bank got in the action too with the Altitude Reserve card.
So now finally Bank of America is also taking some steps to hep customers during these times. They have sent out emails with two offers that reward spending on Grocery, Dining and Takeout.
BofA Premium Rewards Card
- Receive up to $50 as a statement credit on any combination of these qualifying purchases: Grocery, Dining and Takeout. Simply use your card for qualifying purchases now through December 31, 2020, and your statement credit will equal the amount you spend—up to $50.
BofA Travel Rewards Card
- Now through December 31, 2020, in addition to travel-related purchases, you can redeem points for a statement credit for these qualifying purchases made within the last 12 months: Grocery Store, Dining, Takeout.
Guru’s Wrap-up
Some good offers from Bank of America. If you have Travel rewards points, you can redeem them for a statement credit on purchases that most people are doing right now such as groceries and takeout.
For Premium Rewards cardholders the $50 credit gets you half of the annual fee back. Add the $100 airline credit and it makes it an easy decision to renew.
