If you’re thinking of waiting until Black Friday to do holiday shopping and you’re a Bank of America credit card holder, you may want to get your shopping list in order a bit sooner.
For the second year in a row, Bank of America is offering its credit card customers More Rewards Day on Nov. 9. All Bank of America credit cards are part of the promotion to score bonus cash back or points — an additional 2% cash back or two extra points or miles per dollar.
Last year, cardholders earned approximately $25 million in extra rewards. Here’s what you need to know.
[Read: Best Rewards Credit Cards.]
How to Earn Bonus Rewards
Make purchases with your Bank of America credit card on Nov. 9 and you’ll earn bonus points. There’s no sign-up required, and all eligible purchases earn a flat rate, so you don’t have to worry about category spending. You’ll also get the full 24 hours to shop, from midnight until 11:59 p.m. Eastern Time.
Some examples of how the bonus might look:
— If you have a cash back card like the Bank of America Unlimited Cash Rewards credit card, you’ll earn rewards of 3.5% — that’s 1.5% you earn every day on the card plus the 2% bonus.
— For Bank of America Premium Rewards credit card holders, you’ll get two extra points for every dollar you spend. So in the travel or dining purchase categories, you’d get an additional two points on top of the two points per dollar you’re already getting for a total of four points per dollar.
— And for Alaska Airlines Visa Signature credit card holders, you’ll earn 2 miles per dollar on top of your regular miles. That means instead of just getting 3 miles for every dollar spent on eligible Alaska Airlines purchases, your earnings rate would increase to 5 miles per dollar spent on Nov. 9.
You’ll even get cash back if you have a card like the BankAmericard credit card — which doesn’t regularly earn rewards. You’ll get a statement credit equal to 2% cash back on the first $2,500 in purchases you make on More Rewards Day.
[Read: Best Credit Cards.]
Note the Fine Print
Be sure to note any of the fine print that applies directly to your specific card. A few points to keep in mind:
— There is an earnings cap. Bonus rewards earned by each consumer max out at $50 cash back, 5,000 points, 5,000 miles or a $50 statement credit.
— It might take up to two billing cycles to see rewards appear. Depending on how transactions post and the type of card you have, it could take a little while to see your bonus rewards from More Rewards Day.
— No double-dipping on Preferred Rewards. If you’re a Preferred Rewards member, your Preferred Rewards bonus will still be applied as usual on your purchases. But you won’t earn on top of the extra bonus points you pick up on More Rewards Day.
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Bank of America Cardholders Can Earn More Nov. 9 originally appeared on usnews.com
