Whether you already have a Bank of America bank account or credit card, or are planning to open an account in the future, it is a good idea to understand the pros and cons of this bank’s cards. While not as eye-catching as high cash back rates or sensational welcome bonuses, Bank of America’s BankAmeriDeals program is a convenient way for cardholders to earn a little extra cash back on their purchases. .
What is BankAmeriDeals?
BankAmeriDeals is a cash back program offered by Bank of America. Account holders can use a Bank of America credit or debit card to make qualifying purchases and earn cash back. This benefit is free to all Bank of America online and mobile banking customers, and no registration is required.
BankAmeriDeals Cash Back Rewards are separate from the credit card cash back rewards your card can earn, and they only apply to specific participating merchants and retailers. That said, account holders with rewards credit cards can earn both BankAmeriDeals rewards and any rewards that come with their card, making purchasing these offers potentially even more lucrative.
Cardholders are not required to participate in BankAmeriDeals. But if you are already considering making a purchase from a participating retailer of BankAmeriDeals, the extra rewards can be a nice added benefit. BankAmeriDeals is only available to Bank of America customers. Similar programs from other issuers include the Chase offers and the Amex offers.
Types of BankAmeriDeals offered
There are several types of BankAmeriDeals on offer. Categories include entertainment, food, retail, services, and travel. Participating businesses change every few weeks, but a few current or past retailers where customers can earn additional cash back include Hickory Farms, ASOS, Wayfair, Sephora, Omaha Steaks and more.
These cash back offers can take the form of a percentage or a dollar amount. Percentages typically range from 5% to 50%, while dollar amounts range from around $ 4 to $ 35.
Which Bank of America credit cards have access to BankAmeriDeals?
All Bank of America customers who use online or mobile banking services have access to BankAmeriDeals. This includes, but is not limited to, owners of the following Bank of America credit cards:
Customers who have a debit card with Bank of America and use mobile or online banking services can also take advantage of these offers.
How do you use BankAmeriDeals?
To use BankAmeriDeals, you must first log into your Bank of America account online or through the mobile app. Then go to the “rewards and offers” menu and click on “cash back offers”. You can then view the offers offered by specific retailers, including the reward rate and the offer expiration date. Offers only last a few weeks at a time and new offers are added regularly.
Once you have found an offer that interests you, the next step is to click on the “Add this offer” button to activate the offer. Then you can shop at the retailer offering the offer online or in person to earn Cash Back. Once you’ve made a qualifying purchase, cash back will automatically be deposited into your account. In addition to cash back rewards, some offers also provide customers with rebates or other promotional offers. When deciding which transactions to participate in, it is advisable to read the fine print to determine if there are any special instructions or minimum or maximum expenses.
Cardholders can view available offers, earned rewards, and expired offers at any time. You can also change your preferences, including your preferred zip code, the account you want to deposit cash back into, and transaction alert settings.
Takeover of BankAmeriDeals
Once you’ve selected an offer and made a qualifying purchase, you don’t need to do anything else to redeem rewards. Following an eligible purchase, the rewards will automatically be added to your account within 30 days. You can also set account alerts so you know when your offers are about to expire. Most offers are only valid for one use, but some offers can be used multiple times.
To get the most out of the BankAmeriDeals program and avoid unnecessary expenses, it’s a good idea to resist the temptation to spend more than you plan on just to qualify for some cash back rewards. Instead, you should use this program sparingly, selecting only qualifying offers from retailers you have previously planned to shop with.
The bottom line
For Bank of America customers with a bank debit or credit card, BankAmeriDeals is a unique way for cardholders to earn a little extra cash back. The exact amount you can earn varies depending on the retailer and offering currently on offer, but examples include up to $ 35 or 50% cash back on some purchases.
In most cases, the BankAmeriDeal program is unlikely to be the reason you choose to open a card or bank account with Bank of America. Other perks, such as credit card reward rates, welcome bonuses, special promotions, and luxury perks, may play a bigger role in influencing your decision. That said, the BankAmeriDeals program is another great way to earn extra cash on everyday purchases.