Hey there! Ever found yourself wondering how to get your hands on that sweet $200 cash rewards bonus from Bank of America? You're not alone! Many people sign up for a new credit card or open a new account with the promise of a bonus, but then the actual redemption process can feel a bit like a treasure hunt. Well, fear not! This comprehensive guide will walk you through every step, ensuring you claim what's rightfully yours. Let's get started!
How to Get Your $200 Cash Rewards from Bank of America: A Step-by-Step Guide
Securing your $200 cash rewards bonus from Bank of America typically involves a few key stages, from meeting the initial requirements to the actual redemption. Most commonly, this bonus is tied to specific credit card offers, particularly the Bank of America® Customized Cash Rewards Credit Card or the Bank of America® Unlimited Cash Rewards Credit Card, where you need to meet a spending threshold within a certain timeframe after account opening.
Step 1: Confirm Your Eligibility and Understand the Offer
Before you can even think about claiming your $200, you need to ensure you've met all the initial requirements. This is the most crucial step, so pay close attention to the details!
Sub-heading 1.1: Review the Original Offer Terms
Did you sign up for a new credit card or open a specific checking account with a bonus offer? Go back to the original offer terms and conditions you received when you applied. This document is your rulebook. It will explicitly state:
- The specific Bank of America product (e.g., Bank of America® Customized Cash Rewards Credit Card).
- The spending requirement: For many $200 cash rewards bonuses on credit cards, you typically need to make at least $1,000 in purchases within the first 90 days of account opening. For checking accounts, it might involve direct deposit requirements or maintaining a certain balance.
- The timeframe: Note the exact number of days (usually 90) from your account opening date. Missing this deadline can mean missing out on your bonus.
- Any exclusions: Sometimes, balance transfers, cash advances, or fees don't count towards the spending requirement. Make sure you're aware of what does and doesn't qualify.
Sub-heading 1.2: Check Your Account Opening Date
Knowing your account opening date is vital for tracking the 90-day (or whatever the specified period is) window. You can usually find this information on:
- Your welcome kit/letter from Bank of America.
- Your online banking portal, under your account details.
- Your first credit card statement.
Step 2: Meet the Spending Requirement (or Other Conditions)
This is where you actively work towards earning your bonus. Consistency and careful tracking are key here.
Sub-heading 2.1: Track Your Spending
If your bonus is tied to a credit card spending requirement, meticulously track your purchases.
- Use your online banking: Bank of America's online banking platform is your best friend. Log in regularly to see your transactions and track your progress toward the spending goal.
- Create a spreadsheet: For those who love organization, a simple spreadsheet can help. List your qualified purchases and sum them up.
- Set reminders: If you're close to the deadline, set a reminder a few days beforehand to ensure you hit the target.
Sub-heading 2.2: Understand What Qualifies
As mentioned, not all transactions may count. For credit card bonuses, generally:
- Everyday purchases like groceries, gas, online shopping, and dining will count.
- Cash advances, balance transfers, fees, and interest charges typically do not count.
- If your bonus is for a checking account, qualifying direct deposits usually refer to salary, pension, or government benefits, and not person-to-person payments (like Zelle) or ATM deposits.
Step 3: Wait for the Bonus to Post
Once you've met the requirements, the hardest part is often the waiting game. Bank of America typically processes and posts these bonuses within a certain timeframe.
Sub-heading 3.1: Know the Timeline
Based on common offers, Bank of America usually deposits the $200 cash rewards bonus into your eligible account within 60 days from the end of your qualifying period.
- Example: If your 90-day spending period ends on September 30th, you can generally expect the bonus to be deposited by November 30th.
- Patience is a virtue here! Avoid contacting customer service immediately after your 90-day period ends. Give them the full 60 days to process it.
Sub-heading 3.2: Monitor Your Account
Keep an eye on your credit card statement or checking account transactions. The bonus will usually appear as a credit or a deposit. It might be labeled as "Cash Rewards Bonus," "Online Cash Rewards," or something similar.
Step 4: Redeem Your Cash Rewards
Once the $200 is visible in your rewards balance, it's time to claim it! Bank of America offers several convenient ways to redeem your cash rewards.
Sub-heading 4.1: Online Banking (Recommended Method)
This is usually the most straightforward and flexible way to redeem your rewards.
- Log in to your Bank of America Online Banking account.
- Navigate to the "Rewards & Deals" tab.
- Click on "Credit Cards" to expand your view if you have multiple cards.
- Look for the "Available Rewards" button or scroll to the "Available Rewards" section. If you have several rewards cards, select the one associated with the $200 bonus and click "View details/redeem." This will typically open a separate rewards page.
- Select how you'd like to redeem your cash back. Common options include:
- Statement Credit: This applies the $200 directly to your credit card balance, reducing what you owe.
- Deposit into a Bank of America Checking or Savings Account: Have the money transferred directly into your linked Bank of America account.
- Credit to an eligible Merrill account: If you have an investment account with Merrill, you might be able to deposit it there.
- Pay for purchases when you shop at Amazon.com or check out with PayPal: Some rewards programs allow this direct application.
- For a one-time redemption, select the account you want the cash deposited into, or choose "Redeem all" or enter the specific amount ($200 in this case).
- Review your selection carefully and then click "Complete Redemption."
- You'll receive a confirmation.
Sub-heading 4.2: Mobile Banking App
The Bank of America Mobile Banking app also provides a convenient way to redeem your rewards on the go.
- Log in to the Bank of America Mobile Banking app.
- Tap "My Rewards."
- Select "Credit Cards" from your list of rewards.
- Tap "View/Redeem."
- On the Rewards Summary screen, choose how you'd like to redeem your cash back (e.g., "Redeem for cash").
- Select where you want to receive the cash (e.g., a deposit to an eligible account or a statement credit).
- Tap "Redeem all" or enter $200, then confirm.
- Review the details and complete the redemption by following the on-screen prompts.
Sub-heading 4.3: Phone Redemption
If you prefer to speak with someone, you can also redeem your cash rewards by phone.
- Call Bank of America's credit card customer service at 1-800-434-8313 and select the option for rewards redemption (often option 2).
- Customer service representatives are typically available Monday to Friday, 9 a.m. to 9 p.m. ET. Be prepared to provide your account information for verification.
Step 5: Confirm Your Redemption
After completing the redemption process, it's always a good idea to confirm that it went through successfully.
Sub-heading 5.1: Check Your Account Activity
- For Statement Credit: Look for a credit of $200 on your credit card statement within a few business days.
- For Bank Deposit: Check your linked Bank of America checking or savings account for a deposit of $200. This usually processes within 1-3 business days.
Sub-heading 5.2: Retain Records
Keep a screenshot of your redemption confirmation or note the confirmation number. This can be helpful if any issues arise.
10 Related FAQ Questions
Here are some common questions you might have about Bank of America cash rewards:
How to Check My Bank of America Cash Rewards Balance?
You can check your Bank of America cash rewards balance by logging into your Online Banking account and navigating to the "Rewards & Deals" tab, or by using the Mobile Banking app and selecting "My Rewards."
How to Know if I Am Eligible for the $200 Cash Rewards Bonus?
Eligibility is typically determined by the specific offer you signed up for. Review the terms and conditions from when you applied for the credit card or opened the account. Most credit card offers require a certain amount of spending (e.g., $1,000) within a set timeframe (e.g., 90 days) from account opening.
How to Track My Spending Towards the Bonus Requirement?
The easiest way is to log into your Bank of America Online Banking account or Mobile Banking app and monitor your transactions. You can also manually track your qualified purchases to ensure you meet the threshold.
How to Redeem My Cash Rewards for a Statement Credit?
Log in to your Bank of America Online Banking or Mobile Banking app, go to the "Rewards & Deals" section (or "My Rewards" in the app), select the relevant card, and choose the option to redeem for a statement credit.
How to Deposit My Cash Rewards into My Bank of America Checking Account?
Through Online Banking or the Mobile Banking app, select your cash rewards, and then choose the option to deposit the funds into your linked Bank of America checking or savings account.
How to Set Up Automatic Redemption for My Cash Rewards?
While redeeming the $200 bonus is typically a one-time action, for ongoing cash back, you can often set up automatic redemptions within your Online Banking or Mobile Banking app settings. Look for an "Auto Redemption" option within the rewards section, where you can specify a minimum amount for automatic deposits.
How to Contact Bank of America Customer Service for Rewards Issues?
For credit card rewards inquiries, you can call Bank of America's customer service at 1-800-432-1000 or the dedicated rewards line at 1-800-434-8313. You can also send a secure message through online banking.
How long Does It Take for the $200 Bonus to Post?
Once you've met the qualifying criteria, Bank of America typically posts the $200 cash rewards bonus to your account within 60 days from the end of the promotional period (e.g., 90 days from account opening).
How to Find the Terms and Conditions of My Specific Bank of America Rewards Offer?
You should have received the terms and conditions when you applied for the card or opened the account. If you can't find them, you can often access them through your Bank of America Online Banking account or by contacting customer service.
How to Avoid Forfeiting My Bank of America Cash Rewards?
To avoid forfeiting your rewards, ensure you meet all the terms and conditions of the offer, including spending thresholds and timeframes. Also, keep your account open and in good standing, as rewards typically don't expire as long as the account remains active.