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Nerd tip: As of January 2021, both the Bank of America® Travel Rewards credit card and the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card will continue to offer the ability to redeem points at full value toward restaurant purchases, in addition to travel. All other limited-offers listed below have expired.
Bank of America® has some good news for people who carry its travel credit cards but aren't traveling right now (or for the foreseeable future) because of COVID-19.
From now through Dec. 31, 2020, holders of the Bank of America® Travel Rewards credit card and the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card can redeem points for grocery store, dining and takeout purchases at a rate of 1 cent per point. Those points are usually worth 1 cent only when redeemed for travel purchases. They usually have a lower value for other redemptions, like cash back or gift cards.
Meanwhile, holders of the Bank of America® Premium Rewards® credit card can receive up to $50 in statement credit for grocery store, dining and takeout purchases, also from now through Dec. 31, 2020. Credits will be applied automatically when you use the card for purchases in these categories.
Bank of America® is among a growing number of issuers offering limited-time perks and bonus rewards on a variety of credit cards to accommodate drastic changes in consumer behavior during the coronavirus pandemic.