The Offer
Bank of America is offering a one-day rewards holiday on Thursday, November 9, 2023 whereby all personal and business cards from Bank of America will earn an extra 2% cash back / 2x rewards points.
The Fine Print
Offer Rules: This special offer is available on eligible Bank of America Consumer or Small Business credit card accounts, as further described in the below Offer Rules.
Credit card accounts in rewards programs will earn an additional 2% cash rewards, 2 points, or 2 Miles per $1 spent on the first $2,500 of Purchase transactions, up to a maximum of $50 in cash rewards, 5,000 points, or 5,000 Miles per unique Consumer credit card account or unique Small Business company. Purchase transactions must post to the unique credit card account and have a transaction date of 11/9/2023 ET. Small Business Company level rewards earning: all rewards earned on individual company cards accumulate at the corporate account level. There will be one bonus earn for the company with a maximum of $50 in cash rewards, 5,000 points, or 5,000 Miles. Small Business Individual level rewards earning: rewards earned on each card will accumulate on each individual account. Each individual account may earn one bonus with a maximum of $50 in cash rewards, 5,000 points, or 5,000 Miles. Rewards type is dependent on the credit card account you are using. See your current Program Rules for any rewards program details.
Bank of America Non-Rewards credit card accounts will be issued a statement credit equal to 2% of the first $2,500 of Purchase transactions, up to a maximum of $50 per unique Consumer credit card account or unique Small Business company. Purchase transactions must post to the account and have a transaction date of 11/09/2023 ET. For Consumer credit cards without rewards, the statement credit will generally be applied to your existing balance with the highest APR before being applied to any balances with lower APRs. For Small Business credit cards without rewards, the statement credit will generally be applied to your existing Purchase balance.
Our Verdict
Last year there were issues with this promotion posting, but eventually worked fine. This can be an interesting offer with the following cards:
The Travel Rewards, Premium Rewards, and Unlimited Cash Rewards cards earn 1.5% on all purchases. On November 9th you’ll get an extra 2% for 3.5% total everywhere.
This is especially interesting for top-tier Preferred Rewards relationship clients who always get 2.62% on all purchases with these cards and will get 4.62% everywhere on November 9th.
Bank of America Customized Cash Rewards card always gets 3% on one category of your choice (or 5.25% for Preferred Rewards clients) and 2% on grocery/wholesale (3.5% for Preferred Rewards clients) on up to $2,500 in purchases. On November 9th it’ll be 2% on top of that. That’s a potential total of 7.25% on your chosen category for top-tier Preferred Rewards clients.
Earn 3x miles per dollar everywhere on the Alaska Airlines card.
Apply for a new Bank of America card now and you’ll hopefully have the card by November 9th when you can meet the minimum spend at increased earn rates.
Let us know what other opportunities interest you
Some tips:
Consider paying taxes with the credit card convenience fee of around 2% on November 9th and you’ll still come out ahead.
Pay out any utility bills, medical bills, insurance premiums, charity donations on November 9th.
Some people might want to manufacture spend, e.g. purchase $500 Visa gift cards, on November 9th.
Readers have pointed out that you can get $50 bonus per card, so if you have multiple cards the $2,500 spend can be done on each one.
Let us know your own suggestions in the comments below (we are aware that the comments aren’t working right now for most people).