Unexpectedly, Bank of America recently added yet another rewards structure in addition to BankAmeriDeals to provide even more incentive to make usage of set offers. Some disclosure, BankAmeriDeals is an easy way to earn cash back right in Online and Mobile Banking. Simply login to your cardholder account and check your BankAmeriDeals under “Special Offers & Deals” to see if it’s live for you. Note that this program resets on April 25, 2018. If you’re interested, be sure to read on to see how this “coin program” works.
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Bank of America Coin Rewards Program Guide:
Maybe I’m over-analyzing, but with the rise in popularity of crypto-currencies and Bank of America’s perfect opportunity to introduce an additional incentive called “coins” may very well have some correlation. Just, speculation, so don’t hold me accountable in the comment section below please! Of all evidence, these two products are significantly different from one another.
Alright, let’s get into it. Coins are basically an extra layer of incentives on top of BankAmeriDeals. BankAmeriDeals will continue to function as it did before introducing coins. How it works is that every time that you redeem an offer, you’ll be receiving a coin. When you earn 4 coins, you’ll have the ability to exchange set coins for cash rewards, $5 is the starter. This program will run by a level-basis, so with each level you achieve, your coin bonus increases by $1. Maximum of $8 can be earned by 4 coins at what appears to be a level cap at level 4.
Recommended Cards for BankAmeriDeal Program:
- Bank of America Premium Rewards Card:
- 50,000 Bonus Points after at least $3000 in purchases within first 3 months
- 2x points per $1 spent on all travel and dining purchases
- 1.5x points per $1 spent on all other purchases
- Travel fee reimbursement:
- $100 airline incidentals credit, including baggage fee and flight drinks (NOT airfare)
- $100 Global Entry/TSA PreCheck
- $95 annual fee
- BankAmericard Cash Rewards (there are also a bunch of other co-branded cards with the same rewards)
- $100 cash sign up bonus after $500 in purchases within the first 90 days of account opening
- Earn 3% cash back on gas for the first $1,500 in combined grocery/gas purchases each quarter
- Earn 2% cash back at grocery stores and NOW Wholesale Clubs (Sams club, etc.)
- Earn 1% cash back everywhere else
- No annual fee
- Susan G. Komen® Credit Card
- U.S. Pride® BankAmericard Cash Rewards™
- BankAmericard Cash Rewards™ Credit Card for Students
- MLB® Credit Card
- World Wildlife Fund Card
- BankAmericard Travel Reward
- 20,000 points after $1000 in spend within 90 days
- 1.5 points for every $1 in spend
- No annual fee or foreign transaction fee
- BankAmericard Travel Rewards for Students
- AAA Member Rewards
- Get a $50 statement credit after you make at least $500 in purchases within the first 90 days
- 3 points per $1 in spend on qualifying AAA & travel purchases
- 2 points per $1 on gas, grocery & drug store purchases
- 1 point on all other purchases
- No annual fee
Conclusion:
Bank of America seems to always had the best rewards programs for debit or credit card holders. The Preferred Rewards program and BankAmeriDeals is a great example of that. Of course, it should go without saying that you’d get the best value out of these deals if you activate the ones that you were actually going to use anyways.
You should have plenty of time to get 4-8 BankAmeriDeals out of the way before the clock resets (April 25, 2018). As of current, it seems that the level cap is at level 4 at $8 in cash back. We’ll probably be seeing more levels in the future, but as of now, it seems this program is currently under “testing waters” provisions. Very captivating addition to BankAmeriDeals, hopefully we’ll be seeing more of this program reaching 2018.Don’t forget to check out our complete list of Credit Card Promotions today!
