Advertiser Disclosure: nextcard may receive compensation from card issuers. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airlines or hotel chain. For the most up-to-date terms & conditions, refer to the official credit card application on the issuer's website.
The information related to Bank of America® Premium Rewards® credit card, Bank of America® Premium Rewards Elite credit card, Bank of America® Travel Rewards credit card and Robinhood Gold was collected independently by nextcard and has not been reviewed or provided by the card issuer. MoreLess
Product details may vary. Please see the issuer website for current information. nextcard does not receive commission for this product.
Bank of America doesn't offer credit card transfer partners.
You can use your points as a statement credit towards travel & dining purchases for 1 cent per point.
That's a very different model from Chase Ultimate Rewards or Amex Membership Rewards, where transferring points to the right partner can push value well past 2 cents each. However, that doesn't mean Bank of America is not necessarily "bad"; it's just a different rewards ecosystem that can be incredibly value for some. Here's what that means for your rewards strategy.
TLDR:
Bank of America points work differently from what most points enthusiasts expect. The Bank of America® Premium Rewards® credit card, Bank of America® Premium Rewards Elite credit card, and Bank of America® Travel Rewards credit card earn points that cannot be transferred to any airline or hotel loyalty program.
That separates Bank of America from most of its major competitors. Chase, American Express, Capital One, and Citi all let you move rewards directly to travel partners like United, Delta, Hyatt, and Singapore Airlines. Cards like the Chase Sapphire Reserve® offer this flexibility, which can delivery outsized value.
Every Bank of America point is typically worth exactly 1 cent, but some redemptions are worse than others.
For example, you can redeem points for a statement credit to pay for eligible travel or dining expenses at 1 cent per point.
However, if you redeem points for cash or gift cards, you get a reduced redemption rate below 1 cent per point..
While this predictability is genuinely useful, it also caps your upside. Transferable points programs can push past 2 or even 3 cents per point with the right airline or hotel redemption, and Bank of America simply doesn't offer that.
Why are Bank of America rewards still compelling? Read on...
The Preferred Rewards program is one of the more compelling reasons to keep your banking relationship with Bank of America. Depending on how much you keep across your BofA and Merrill accounts, you can earn a 25% to 75% rewards bonus on eligible credit card purchases.
The tiers break down like this (terms apply):
That 75% bonus can make cards like the Bank of America Travel Rewards card genuinely competitive, pushing the base 1.5x earn rate to an effective 2.625x on every purchase. That alone already beats many other alternatives out there (except the Robinhood Gold card).
Several issuers cover the transferable points space well. Here's how they compare at a glance (as of May 2026):
| Issuer | Program | Transfer Partners |
|---|---|---|
| American Express | Membership Rewards | 20 partners including ANA and Cathay Pacific |
| Capital One | Miles | 22 partners including Japan Airlines ad Accor |
| Chase | Ultimate Rewards | 14 partners including United, Hyatt, and British Airways |
You can also check out nextcard's transfer partner table to see all the airline/hotel transfer partner options out there.
When you redeem Bank of America travel rewards points directly through their travel portal, you'll only get 1 cent per point. Transfer your points to an airline or hotel loyalty program, though, and that value can jump to 2 cents per point or more depending on how you book.
That gap is why transfer partners matter so much. A 50,000-point balance redeemed directly might cover a $500 flight. The same 50,000 points transferred to the right airline partner could book a business class seat worth $1,500 or more.
Then again, if you have Preferred Rewards status, you could potentially be earning 2.625 points per dollar spent (which is very good).
Not every cardholder needs transfer partners. For Preferred Rewards members at higher tiers, the earnings boost makes the fixed-value model more competitive than it looks..
The Bank of America Travel Rewards card carries no annual fee and works well for casual travelers who want straightforward redemptions. With Platinum Honors, you'd be earning 2.625 points per dollar spent.
The Bank of America® Premium Rewards Elite credit card earns 2 points for every dollar spent on travel & dining. With Platinum Honors, that becomes a whopping 3.5 points per dollar spent on those categories!
Keeping track of transfer partners across Bank of America, Amex, Chase, Citi, and U.S. Bank can get overwhelming fast. That's where nextcard comes in. The nextcard app lets you see all your credit cards and their rewards programs in one place, so you always know which points you have, what they're worth, and where you can move them.
Whether you're planning your next redemption or comparing airline partners across programs, nextcard gives you a clear view without the tab-switching chaos.
It's a genuinely useful tool for anyone trying to get the most out of their rewards.
Bank of America's approach to travel rewards is dead simple but capped at 1 cent per point, even with the Preferred Rewards bonus factored in. If transfer partners are part of your strategy, you'll want a Chase or Amex card in your wallet instead.
Sign in to nextcard to see how Bank of America cards fit alongside your other rewards programs. Your best card setup depends on whether you travel often enough to make learning transfer ratios and award charts worth it.
No, Bank of America credit cards don't offer any airline or hotel transfer partners. You can redeem points at 1 cent each through the Bank of America Travel Center, as statement credits for travel purchases, or as cash back to your Bank of America checking or savings account.
Chase Ultimate Rewards offers 14 transfer partners including United, Hyatt, and British Airways, while Bank of America has zero transfer partners. Bank of America points work at a fixed 1 cent per point value, whereas Chase transfers can score incredible value with the right redemption.
While Amex and Capital One have amongst the most transfer partners, that doesn't mean its the best program. Chase and Citi have some of the strongest transfer programs given their partnership with Hyatt and American Airlines, respectively.
Each issuer offers different transfer ratios and partner airlines, so the best choice depends on which airlines or hotels you use most.
The Preferred Rewards program adds a 25% to 75% bonus on credit card rewards based on your combined Bank of America and Merrill account balances. Platinum Honors members ($100,000+ in assets) get a 75% bonus, boosting the Travel Rewards card's base 1.5x earning rate to an effective 2.625x on all purchases (very good).
