Bank of America is running a credit card promotion called “More Rewards Day” on Saturday, 11/5/22. Depending on your BofA credit card type (both consumer and business), you can earn an additional 2% cash back or 2 points or miles/$1 spent on purchases made on 11/5/22 only. Yes, that’s on on top of the rewards you’re already earning. No enrollment required.
- Cash Back Credit Cards. Earn an additional 2% cash back on purchases made on 11/5/22.
- Points Rewards Credit Cards. Earn an additional 2 points for every $1 spent on purchases on 11/5/22.
- Miles Rewards Credit Cards. Earn an additional 2 Miles for every $1 spent on purchases on 11/5/22.
- Non-Rewards and All Other Rewards Credit Cards. Earn 2% cash back in the form of a statement credit on purchases made on 11/5/22.
Thanks to reader Bill for the tip, as even though I have use both my BofA consumer AND business rewards credit cards regularly and am part of their Preferred Rewards program, I was not notified about this offer.
This is an interesting promotion that would work out well if (1) you have a good BofA rewards card, (2) you have the Preferred Rewards boost, (3) you have large purchase(s) planned in one of your customized bonus categories, or just any large purchase really, and (4) it is the type of purchase that posts on the same day (sometimes you don’t get charged until something ships). Your total cash back on 11/5/22 could be 4.6% or more. Some possibilities:
- Pay estimated income taxes at Pay1040.com for only 1.87% fee.
- Pay your insurance premiums for the entire year upfront. My State Farm grouped monthly bill can also be timed using manual payment.
- Pay your utilities upfront if possible. Sometimes it just costs a one-time flat fee to pay by credit card.
- Make your annual charitable contributions on 11/5/22 this year.
- Gas, online shopping, dining, travel, drug stores, or home improvement and furnishings are choices for your 3% category for the BofA Customized Cash card = up to 5.25% with Preferred Rewards = 7.25% cash back total with this promo. You can change your category this month in app and then max your $2,500 quarterly limit using gift cards at Amazon (online shopping), Home Depot (home improvement), and so on.
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Thinking about paying the utilities. And since the 5th is on a Saturday and I would pay over the phone just wondering if they will post that same day.
For my bills I just plan to buy the MCGC’s that are on sale this week and then pay with those.
I have been a Platinum Honors over $100K for years. I get 3% on online shopping + 1.75% Where are you getting 3.5%+ 1.75% ?
With platinum honors, you should be getting 3% * 1.75 = 5.25% for the category of your choice for the cash rewards card. Or 2.625% (all other) / 3.5% (travel/dining) for the premium rewards card.
Thanks! I was adding the two numbers but you are multiplying:) So I will assume my error!
Thank you for the correction!
1. As 11/5 is Saturday, I am not sure Pay1040.com will post the payment on the same day.
2. And Pay1040.com won’t be deemed by BA as online purchases.
Can someone please confirm, thanks
1. You could test this Saturday with a very tiny purchase and let us know the results 😁
2. I don’t think it will be deemed as online shopping, but I believe it counts as a purchase. If so, up to 4.62% is still pretty solid.
I have a property tax due at the end of the year, if I pay by credit card, does it count as retail transaction? does it get posted the same day? Anyone has experience?
For payments made online, a convenience fee of 2.5% will be charged for a credit card transaction. If that works, that’d be easy 2.12% (2.62%+2%-2.5%).
The unknown is will the site process on 11/5 as it happens to be Saturday. I noticed some of my grocery transactions are always posted the next day of shopping. However online transactions maybe processed on the same day, even on weekends?
I guess I have nothing to lose, even if they don’t give 2% extra, I will still come out ahead with
0.12% (2.62%-2.5%). With property tax, we are talking thousands of $$.
Lucky you. My local MUD charges 3.99% fee CC payment.
It is important to note the fine print on the Bank of America offer:
Purchase eligibility is based on transaction(s) occurring on the account from 12:00am to 11:59pm Eastern Time (ET) on 11/05/2022. This means that your transaction must occur during the Eastern Time promo period – not your local time. For example, a transaction that occurs at 11pm Pacific time on 11/05/2022 would be considered 2am Eastern Time on 11/06/2022 and therefore will not be eligible for the bonus offer.
Good point, I plan to make some charitable donations tomorrow, was going to do it in the morning anyway but definitely can’t wait too late into the evening.