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Do Bank of America Points Expire? Everything You Need to Know

  • Max Prosperi

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    INSIDER SECRET: Bank of America issues credit cards that earn travel points. But my favorite for travel isn’t a travel credit card! It’s the Bank of America®️ Premium Rewards®️ credit card. I’ll show you why.

    If you’re like me, earning points with credit cards is often easier than getting yourself to use those points. There are too many fantastic ways to redeem them.

    But there’s one important aspect of miles and points to remember: Earning points and not spending them can be dangerous. If you aren’t careful, your favorite credit card points may expire.

    Bank of America offers a variety of travel rewards credit cards, including:

    Bank of America’s travel rewards credit cards earn some of the most straightforward rewards, so they’re fantastic for beginners. But do Bank of America points expire? In a way, they do. But I’ll show you how to ensure that never happens!

    Do Bank of America points expire? Fortunately, it takes assertion on your part to lose them! (Photo by Benjamin Rasmussen)

    Do Bank of America Rewards Points Expire?

    When a Bank of America Rewards credit card account is closed for any reason, you will lose your unused points. In other words, they expire only when you close your points account, or your account is no longer in good standing and Bank of America closes it for you. Makes sense!

    There are a few ways to keep your points should you want to close your account.

    If you’re planning to close an account that earns Bank of America Rewards points, it’s important to use your points first (you can check this post out to learn Bank of America points value and how to use them). But what if you’ve got no upcoming plans to use your points?

    The solution is simple if you’ve got the Bank of America Premium Rewards because you can cash out your points at one cent each. Just note you’ll need at least 2,500 points to redeem them. Because you can turn your points into cash, this is my favorite card to use for travel. I can use my rewards for literally ANYTHING.

    With the Bank of America Travel Rewards and Bank of America Business Advantage Travel Rewards, the answer is more complicated. If you’ve got no upcoming travel plans, there are still ways to use your points, but they’re not ideal.

    You can cash out your Travel Rewards points at a value of 0.6 cents each. That’s bad, considering you’ll receive a value of one cent each when you redeem for travel. But you can also redeem your points for gift cards at a much fairer rate. Gift cards start at 3,125 points for a $25 value (0.8 cents per point). But the value increases with the price of the gift card. For example, redeem 20,000 points and you’ll receive a $200 gift card (1 cent per point).

    Bottom Line

    Bank of America Rewards points are valued around one cent per point. These points are fairly easy to earn, with uncomplicated bonus categories. Additionally, you can use points for travel through Bank of America’s travel portal, gift cards, or transferred to a checking account in return for cash.

    Plus, your points won’t expire as long as your credit card account is open and in good standing. So there’s no rush to use your points. Just be sure you use them before you cancel your card, or you’ll lose them all.

    Stay tuned for more posts on Bank of America rewards! And subscribe to our newsletter for more helpful info like this!

    Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)