More loyalty rewards added to BankAmericard
Bank of America has announced the re-launch of its BankAmericard, which is nearly half a century old. The new BankAmericard Rewards Visa card builds on that heritage and provides cardholders with more opportunities to be rewarded for using their card.
When tied to a non-card account (such as a loan, cheque, savings or investment account), BankAmericard Rewards Visa cardholders earn 50% more points for every card purchase, attracting 1.25 reward points per US$1 spent on the card, plus an annual rewards bonus of 25% for staying with the bank.
Cardholder benefits The updated BankAmericard Rewards programme does not put a cap on earning bonus points, and customers can earn points every month for every purchase in any spending category.
The card also offers free access to the MyConcierge service, a personal assistant who can help with almost anything from hard-to-get restaurant reservations to sought-after golf tee times. The concierge service is available to cardholders 24 hours a day, 7 days a week.
Redemption options Cardholders can redeem their reward points for travel, merchandise, cash, gift cards and certificates, aspirational experiences, charitable donations, and environmental contributions, among other options. Starting in early 2008, cardholders will also have the option to direct their cash rewards into any type of deposit, savings, loan, or brokerage account with the bank. As a result, redeeming points for cash will become much easier than before.
The BankAmericard Rewards Visa card is available through Bank of America's 5,700+ banking centres, and new applications can also be made online or by telephone. BankAmericard Rewards is the first of several products scheduled to launch during the coming year under the BankAmericard brand. The bank currently claims to have a relationship with 50% of US households (57 million consumer and small business relationships), with 22 million of those customers actively using its online banking service.