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Bank of America is offering a “More Rewards” day on November 7, 2024 whereby all personal and business cards will offer an additional 2% cash back or 2 miles per dollar spent on up to $2,500 in purchases. This can be a great deal on a number of cards, particularly for those with Platinum Honors status.
The Deal
- Bank of America is offering a More Rewards Day on Thursday, 11/7/24 whereby Bank of America cardholders will earn an additional 2% cash back / 2 miles or points per dollar spent on up to $2,500 in purchases per card
- Direct link to more information
Key Terms
- The promotional offer is in effect 12:00am to 11:59pm Eastern Time (ET) on November 7, 2024. Only purchases that post to your account and appear on your statement with a transaction date of November 7, 2024 ET will qualify. Merchants provide the transaction date, which may be on or aſter the date you authorized the transaction, and before the date the transaction posts to your account. Transactions with delayed processing of 90 days or more will not be eligible to be included in the promotional offer.
- This promotional offer applies to all Purchase transactions. The following transaction types are not purchases and will not count towards this promotional offer: Balance Transfers; Cash Advances; fees and interest charges.
- You will earn the Preferred Rewards bonus on qualified purchase amount(s). The Preferred Rewards bonus does not apply to the additional bonus for this promotion.
Quick Thoughts
This offer can really make it compelling to use your Bank of America card(s) on today.
This More Rewards deal adds an extra 2% cash back on top of earnings on cash back cards or an extra 2 miles / points per dollar spent on cards that earn miles or points. That is enough additional to turn even a ho-hum card into a great option for otherwise unbonused spend. I could see the additional 2 miles per dollar spent on the Alaska cards to be a good reason to do some of the spend required for the annual companion certificate for those who need it (note that cards issued since January 18, 2023 require $6K in spend to earn a companion certificate).
The deal gets even more interesting if you have Platinum Honors status with Bank of America. You can read more about it here, but the short story is that those with $100,000 in cash and/or investments with Bank of America and Merrill Lynch or Merrill Edge (including in IRA accounts) earn a 75% bonus on rewards earned on bank-branded cards like the Premium Rewards Card, Unlimited Cash Rewards card, Customized Cash card, and Travel Rewards card.
If you take a card like the Premium Rewards card as an example, that card ordinarily earns 2% back on travel and dining and 1.5% back everywhere else. However, if you have Platinum Honors status, you’ll earn 3.5% back on travel and dining and 2.625% cash back everywhere else. With the More Rewards promotion, that bumps up earnings to 5.5% on travel and dining or 4.625% back everywhere else. That’s a fantastic return on otherwise unbonused purchases. If you maxed out the $2,500 cap, you’d earn more than $115 in cash back.
If you’ve got the Customized Cash card, this could get really interesting. That card offers 3% back on the category of your choice each month (category choices include: gas and EV charging, online shopping, cable, streaming, internet & phone plans, dining, travel, drugstores, home improvement & furnishings) and 2% back on grocery and wholesale clubs up to a cap of $2,500 in combined purchases per quarter. If you have Platinum Honors status, that’s 5.25% back on the category of your choice with the 75% bonus. Add 2% for this deal and you could be earning 7.25% back on your chosen category on November 7th. That’s $181.25 back if you can max out the whole enchilada on November 7th! That could be a fantastic return if you’re booking travel or you can buy things at drugstores or home improvement stores for the purpose of maxing out the offer.
Also, don’t forget that you shouldn’t take a siesta on Sonesta — if you’re going to do the $7.5K annual spend for 30K bonus points, you might as well do $2,500 of it on the More Rewards day.
To that last point, keep in mind the cap: while there was no cap the first year year, keep in mind that the spend is now capped at $2,500 per card (though if you have multiple cards, keep in mind that each card gets its own $2500 cap).
One final warning: be aware that if you shop online, some merchants will not finalized the charge until the merchandise ships. For instance, if you ordered something from Dell today, Dell will run an initial authorization today. But if they ship the item tomorrow, the transaction date on your statement will end up with tomorrow’s date. For that reason, you may want to be careful about maxing out this offer with online shopping unless you know for sure from past experience that your purchase is likely to end up dated correctly. If the charge comes through on 11/8, you’re not going to get the bonus rewards.
H/T: Doctor of Credit
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I planned ahead to take advantage of this bonus. I had a payment coming up for an expedition cruise, so I made sure my travel agent was aware that this needed to process on the 7th. I did this by phone; I received a confirmation from BOA about the $2500 transaction a short time late and showing the date as 11/7. Fast forward a few days later and suddenly the transaction date according to BOA is now 11/8 with a posting date of 11/9. It seems like a real bait and switch. And, of course, trying to explain all of this to a customer service person is next to impossible.
I would just wait that out and see if the rewards post. BOA often shows weird transaction dates. I’d see if the rewards post on their own before beating my head against the wall with customer service.
Thanks, Nick. I’ll wait and see. Currently it shows as just a regular travel reward with PH; another incidental transaction on the 7th actually shows the Rewards Day bonus, but I’ll see what happens on the final statement…
I think usual premium reward bonus doesn’t apply to this offer. For example, I bought AA gift card for 100$ on Nov 7, currently it shows base reward as 200 ( 2x for travel ) and bonus as 200 ( 2 miles for promotion) . I am platinum honors, and I am receiving 0.75 x for all transactions on previous day . Can someone confirm is that expected or do I have to make a call to get additional bonus
I’m trying to maximize this deal by stacking but feel like the rug has just been pulled from under me. I planned and prepared to buy $200 Gift of College cards on Giftcards.com. Today, the max amount on these cards have been cut to $100, which doubles the fee. The Giftcards.com rewards on these cards are now 1% (down from 2%). My backup plan was to use the 4% Citi Merchant offer that I loaded but that has now disappeared. I’m still going to pull the trigger since BofA has the 2% BankAmeriDeals (must use link) and the 2% More Rewards Day but it’s not as appealing. Does anyone have any tips?
So I am planning on buying Hilton points on Nov 7th so I did a test purchase and while I bought the points on the October 8 at 1pm the transaction date still said the 9th and posted on the 10th. I feel like this Nov 7th promotion is a very interesting way for people to spend but not have it post correctly. At the moment it appears like I need to purchase the point the day before.
I made a large travel purchase on Nov 7 by phone; I got an email from BOA about the transaction a short time later that day. The charge was finally posted on Nov 9, but the transaction detail online said the transaction date was Nov 8…despite the email. I charged the full $2500 limit on one transaction so I’ll be anxious to see what happens if or when the points post. It seems disingenuous to have a promotion like this when the card holder has no control over the processing…or when the bank decides an alternate transaction date despite also sending you email proof for a different transaction date!
Is is safe to assume gift card purchases will count—either at drug stores or at a bricks and mortar retail store life Loft? Thanks.
Yes, that will count
Question on eligibility, my Alaska card just posted annual fee on 9/30, next closing date is 10/21. Do you think I can wait till charging 2500 on 11/7 before closing the card and not pay that $95 annual fee? Will I still get the miles if I close the account?
Planning on paying property tax that day! Thanks.
“while there was no cap last year, this year the spend is capped at $2,500 per card”
The $2500 cap was implemented in 2023. It was only uncapped in 2022.
Thank you, you’re right — I fixed that!