BofA More Rewards Day: Extra 2%/2x Rewards on All Cards (November 7)

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BofA has announced the date for this year’s More Rewards Day: November 7. On that day, all BofA credit cards will earn an extra 2x in cash back, points, or miles. For example, a card that normally earns 1% will earn 1% + 2%. No registration is required; you are automatically enrolled.

• Promotion link

Note: this only applies for that one day. BofA uses Eastern Time (ET), from November 7 at 00:00 ET through November 7 at 23:59, so be mindful of the timing. Also, if you have BofA Preferred Rewards status, the extra bonus portion does not receive the Preferred Rewards multiplier, though it does not affect the multiplier on the regular earning portion.

You will earn the Preferred Rewards bonus on qualified purchase amount (s) . The Preferred Rewards bonus does not apply to the additional bonus for this promotion.

Personal Cards

All personal cards will earn an extra 2x rewards, as follows:

• Customized Cash Rewards and Unlimited Cash Rewards will earn an extra 2% cash back, valid on up to the first $2,500 in spending, for up to an extra $50 cash back
• Travel Rewards, Premium Rewards, Premium Rewards Elite, and other points-earning cards will earn an extra 2x, valid on up to the first $2,500 in spending, for up to an extra 5,000 points
• Alaska Airlines, Air France KLM, and other mileage cards will earn an extra 2x miles, valid on up to the first $2,500 in spending, for up to an extra 5,000 miles
• BankAmericard (the non-rewards version) and Amway normally do not earn any rewards, but under this promotion they will earn 2% cash back, valid on up to the first $2,500 in spending, for up to an extra $50 cash back

It’s nice to see that this promotion also includes cards that normally do not earn rewards. Even better, the extra rewards are added on top of the card’s regular earning rate.

Business Cards

Business cards have a similar offer. Switch to the Small Business tab to see them. The cap is also $2,500 in spending per card, with up to $50 or 5,000 points in extra rewards. The only difference is that these offers apply to business cards, so we won’t repeat the details here.

How to Use It

The extra 2% is calculated separately for each card, so if you have multiple cards, you may want to put up to $2,500 of spending on each one. In terms of spending categories, it may be best to use purchases that do not qualify for any category bonus, such as medical bills, insurance, auto insurance, or taxes. Since many cards normally earn 1% on these purchases, stacking that with the extra 2% means a total of 3% cash back, which is quite solid.

Of course, if you have Preferred Rewards status, cards like Travel Rewards can effectively be boosted to 1.5%×1.75+2%=4.875% cash back, which is even more attractive. Likewise, if you have a Customized Rewards card, stacking its usual 3% (5.25%) with this extra 2% can also work very well. So the following two cards may be especially worth prioritizing: