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How to Redeem Bank of America Unlimited Cash Rewards Credit Card $200 Bonus for Statement Credit

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Good morning everyone, happy Friday!  A few weeks ago, I wrote Targeted: $200 Bonus for Bank of America Better Balance Rewards Credit Cards Converting to Unlimited Cash Rewards.  In that post, I talked about the targeted $200 bonus for the Bank of America Unlimited Cash Rewards Credit Card.  In this post, I will show you how to redeem the $200 bonus as a statement credit.  But first, here is the front and back of the credit card.  It is very simple and clean with various shades of gray.  This credit cards earns unlimited 1.5% cash back on all purchases and has no annual fee.

Here is the $200 cash rewards bonus flyer that came with the new credit card.  To receive the $200 cash rewards bonus, you need to spend $1,000 by September 30, 2023.  Pretty simple and straightforward minimum spending requirement.

Completing the $1,000 minimum spending requirement was easy and the Bank of America app spend tracker showed that I completed the minimum spending requirement.

In the account, I could see my current balance, recent transactions, and Total Available Rewards.  I had to wait until my statement closed on June 7 to redeem the rewards.

On Summary tab, you can see your current rewards balance.  On the Activity tab, you can see all the transactions that earned cash back.  Once you complete the $1,000 minimum spending requirement, you will see the $200 cash back bonus.

Fast forward to June 7 when my statement closed, my Total Available Rewards showed $218.34 ($200 from the bonus and $18.34 from the transactions).

On the Summary tab, you can see your balance and click the Redeem button.  On the Activity tab, you can see any new activity since your last statement.

If you have a Bank of America checking account (like I do), you can have the rewards deposited to that account or you can have a statement credit applied to your credit card.  You can redeem any amount from 1 cent up to your total balance.  I clicked the Redeem All button and then clicked the OK button at the bottom.

To confirm your redemption, slide the blue circle down to the gray circle.  Your redemption request is now confirmed and you should see the statement credit or deposit within 3 business days.

Back on the Summary tab, my new balance showed $0.00 and the Activity tab showed the $218.34 statement credit redemption.

I also received an email with details of my Cash Rewards Redemption Request.

24 hours later, I logged back in and checked the account.  It showed the $218.34 CASH REWARDS STATEMENT CREDIT had posted.  This happened in less than 1 business day, so I am happy with the redemption speed.

I don’t have any long term plans to use this credit card since it only earns 1.5% cash back everywhere. I can get 2% cash back everywhere with my Citi® Double Cash Card – 18 month BT offer, Capital One Venture X Credit Card, or American Express Blue Business Plus Credit Card.  For credit cards that have no annual fee and don’t have great spending categories, I hold on to them and wait for targeted spending offers, then I use the credit cards to receive the bonus.

If you have any questions about redeeming rewards on your Bank of America Unlimited Cash Rewards Credit Card, please leave a comment below.  Have a great weekend everyone!

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