Posted by William Charles on October 23, 2019
Credit Cards

Published on October 23rd, 2019 | by William Charles

64

[Expired] [Targeted] Bank of America Extra 2% Cash Back On All Purchases Up To $100/$150 Or Double Cash Back

Deal has expired, view more bank of america deals by clicking here

Some people have a better offer of double cash back on all purchases (e.g 3% category becomes 6%).

The Offer

No direct link, sent out via e-mail. Subject line is ‘Account update – bonus cash offer now available’

  • Bank of America is offering 2% cash back on all purchases made with your Bank of America credit card (on top of the rewards you normally earn) until 12/31/19. Limit of $100 (or $150 depending on the offer)

The Fine Print

  • You will qualify for 2% cash back (up to a maximum of $100), in the form of a statement credit, when you use your account to make any combination of Purchase transactions (exclusive of any fees, returns and adjustments) that post to your account from the date you receive this offer through 12/31/2019.
  • Statement Credits earned as a result of this promotion will not earn any Preferred Rewards/Preferred Rewards for Wealth Management Program Bonus.
  • Limit 1 statement credit per account.
  • This offer is only valid on the account identified within this communication.
  • Your account must be open with active charging privileges in order to receive this offer.
  • The value of this reward may constitute taxable income to you. You may be issued an Internal Revenue Service Form 1099 (or other appropriate form) that reflects the value of such reward.

Our Verdict

Unfortunately Preferred Rewards doesn’t apply to the extra 2%, but this should still be a useful offer for most people.

Hat tip to readers Alex N, Kevin L & VL,



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CO
CO

I got a slightly better offer today. Double all cashback (6% for the 3% category) up to to $150 back

Alan
Alan

My offer is better: To help you get started this holiday season, we’re offering you double cash back — up to $150 in bonus cash rewards — on top of the rewards you already earn.

So what you set for 3% becomes 6%.

Pat S
Pat S

+1 arrived in snail mail today

Joseguardf
Joseguardf

I too got additional 3% up to 150$. (Total 6%)

Millennial Outrage

Same same

Brendan
Brendan

Do preferred honors rewards still apply to the original 3% cashback?

I got the offer but no sure why as I use the card quite a bit for category spending.

Catapult
Catapult

I got a double cash back (upto $150) email offer

kk
kk

Received double cash back as well.

P
P

What online merchants qualify for the 3% category?
Also, they had a similar offer a couple months back but my offer did not have a way to sign up so I ignored it (it’s BofA after all, who knows if they’ll honor it). Did people who got those offers and took advantage get their bonus cash back?

Tim
Tim

What online merchants qualify for the 3% category?

Pretty much anything you can think of.

https://www.doctorofcredit.com/which-online-retailers-earn-3x-with-bank-of-america-cash-rewards/

googlre10
googlre10

But it wont count the services like online insurance premiums etc.

VML
VML

Yep, I did. Credited in mid Sept for quarter ending 8/31. You can view the transactions on the site, anything with a shopping cart icon qualifies for online category. I use the card for most of my Raise purchases!

Lrdxgm
Lrdxgm

In my experience, anything that is does not involve swiping a physical card qualifies, EXCEPT utilities and doctors. Stuff like paying with Walmart Pay at a register included.

Debanjan Dey
Debanjan Dey

BoFA has actually been very generous with the ‘Online Shopping’ category. Any transaction not made by swiping at a terminal or via a digital wallet in store, is classified as ‘Online Shopping’ – as long as it is not for Utilities, Home Cleaning or Insurance.

Definitely all physical goods purchased online will qualify.

SamL
SamL

Any thoughts on how long a card needs to go unused to draw this kind of offer?

mlmh
mlmh

+1 Didn’t got it on my card

CGID
CGID

Hi SamL. Do we know yet that a card needs to go unused? It would be helpful to hear from the first five commenters whether they had not used their cards for a while before getting the offer. If most or all of them had not used their cards for at least a few months, then that point it would make sense to ask How Long.

SamL
SamL

There was some discussion in an earlier thread about an earlier version of this offer a couple of months ago.
https://www.doctorofcredit.com/targeted-bank-of-america-double-cash-back-for-some-cardholders-150-maximum/
Not really conclusive, but it appeared that there was at least some correlation between getting the offer and having little/no recent use of the card.
My comment was prompted by that earlier discussion.

philco
philco

I have been targeted twice on two different cards. I missed the first time I was targeted because I must have not seen the email. I only found it when searching for the more recent one which I did notice. In any event it looks like in my cases about six months of inactivity seems to have done it but not in all cases in that I have other cards past six months with no spend which aren’t targeted but the two I was targeted on I did get the offer about six-ish months after last spend.

SamL
SamL

Woohoo! Got email “Earn up to $150 cash back on online shopping purchases through December 31, 2019. That’s a 6% bonus on up to $2,500 in purchases—and it’s on top of the rewards you already earn with your credit card.” It’s on top of the 5.25% I already get, though that also has a $2.5k cap which I’ve already partially used for Q4, so I’d get 11.25% until that regular cap runs out, then 7.75% until the then remainder of this bonus cap runs out.

Also this card is only a couple of months old and regularly used, which goes totally against my “theory” about rarely/un-used cards (especially since I(&P2) have other CR cards with little recent use that did not get the offer).

Celia
Celia

SamL Wouldn’t it be $5000 since its $150 in bonus cash? So it would calculate the bonus 3% not the original 3%. Or is it capped out?

Celia
Celia

Ananswering my own question of a cap. Bummer that I already used over 1k this quater, got the letter today.

philco
philco

I know these offers have been seen before so I thought I would ask. I was targeted this time around but do they really wait 12 weeks after the promotion ends to pay out (as stated in terms) or do they post the credits when the statement(s) cut?

Megan
Megan

I was targeted for this last round ending 9/30 and still haven’t gotten the bonus.

philco
philco

Thanks good to know.

CH
CH

My experience has been that the double-cash-back promotion pays out periodically, on a rolling basis, while the 2% statement credit should come in a lump sum sometime after the promotion ends–presumably up to 12 weeks. I have multiple Bank of America cards and I received both these promotions for the period ending 9/30. I am still waiting for the statement credit and for the final installment of my double-cash-back.

J
J

I was targeted for both. Received 8/30 bonus, still waiting for 9/30.

lilurbanachiever
lilurbanachiever

Zippo for me.

AKJohnny
AKJohnny

I got this on my Astros card up to $150… so my 3% is gas and now it’s 6% and my normal 2% back on groceries will turn to 4% back (up to $2500 per quarter)… not a bad deal at all… time to hit some grocery stores for some $500 vgc.

googlre10
googlre10

Do BOFA knows anything about the VGC purchases and do anything like Amex claw?

86
86

No problem using the Cash Rewards card.

shadow
shadow

I don’t really understand the term “Limit 1 statement credit per account”. If I make $100 and $1000 purchases in a row, I can only get additional $2 as statement credit for the first $100 purchase?

shadow
shadow

Another thing is that I got this offer on my Alaska card. Does it mean I can get (1 mile plus 2% cash back) for every $1 spend?

philco
philco

Yes

JJ
JJ

Does Plastiq count as a 3% category? I still have the 1.5% fee this month and would make about 4.5% on a property tax payment.

Ferris
Ferris

BOA Visa cards don’t earn rewards on Plastiq purchases

Sam
Sam

Too bad not on Merrill cards

gary
gary

I didnt get it yet. and probably wont as i use BOA the most with 2.62% on everything on one card and the 5.5% (3% category and 75% preferred reward bonus) for $2,500 in purchases on online shopping on my other card.

Jethro Tuller
Jethro Tuller

Didn’t get it on either card. 🙁 One of my BofA’s is my oldest card, so I keep it active wherever the categeories make sense. And the other I’ve used within the past month too.

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