Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill® accounts, or gift cards or purchases at the Bank of America Travel Center. That means you could earn 2.5-3.5 points on travel and dining purchases and 1.87-2.62 points on all other purchases, for every $1 you spend. If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase. No limit to the points you can earn and your points don't expire. NEW OFFER! Receive 60,000 online bonus points - a $600 value - after you make at least $4,000 in purchases in the first 90 days of account opening.Įarn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points for every $1 spent on all other purchases.