Like many other card issuers, such as Citi and American Express, Bank of America continues to react to the downturn in travel due to COVID-19. In the latest modification, Bank of America Travel Rewards cardholders can now use their points for two additional award options: dining and groceries.
New BoA Travel Rewards Award Categories
The new offer allows cardholders of the no-annual-fee Bank of America Travel Rewards Card to redeem their rewards points for dining (including takeout) and grocery purchases. Typically, offsetting travel expenses is the only redemption option with the card.
This new award option runs through December 31, 2020. Users can redeem their points from the last 12 months for statement credits to offset the cost of purchases in the new categories – as well as with the usual travel purchases.
The Impact of COVID-19 on Global Travel
The new award options are in response to the reduction in global travel. According to data from CNTraveler, there has been a 95% decline in air travel from March, when the coronavirus began to hit U.S. travel hard.
The travel drought has impacted airlines particularly hard, with Delta already donating over 200,000 pounds of airline food.
Because of this decline, many banks are altering their travel credit card rewards structure. Citibank, for example, is also allowing Prestige cardholders to use their travel statement credits towards dining and grocery store purchases. American Express, too, is helping customers during the coronavirus pandemic, adding “at home” perks for travel cardholders.
About Bank of America Rewards
Bank of America Travel Rewards is one of the most popular rewards schemes for U.S. travelers. BoA Travel Rewards apply towards travel statement credits using a Bank of America travel credit card. Cardholders also earn loyalty bonuses if they are an existing Bank of America banking customer. In addition, they earn bonuses for being Merrill wealth account customers.