Dec 13, 2018, 12:13 pm
Last edit by: rasheed
BofA has officially refreshed the Bank of America Cash Rewards card. It does not appear any aspect of the rewards program will be getting worse (only new positive options).
BofA has published a comprehensive document indicating the MCC for each bonus category.
BofA has published a pre-release article about the program for customers.
BofA has published a website detailing the 3% categories.
On a calendar monthly basis, a customer can choose a category from a pre-determined list to receive 3% cash rewards. If you do not change the category in a given calendar month, it will stay with what you picked the previous calendar month (or gas if none was ever chosen). You must make the change before the purchase happens (the term "future purchases" is used) because bonus rewards are calculated immediately when transactions post (unlike AmEx, but similar to Chase and Barclays). It seems possible that you could split the month among two categories if you leave the previous calendar month category and then change it later in the new month.
Category selection happens on mobile app or Online Banking website (not by phone call or chat).
Currently, that list is:
Gas (this will be the default if a choice is not selected)
-Pay at the pump (automated fuel dispensers including Costco Gas, Sam's Club and gas stations at grocery stores that categorize as fuel dispensers)
-Pay inside (when the convenience store is categorized as a service station)
-5172 Petroleum and Petroleum Products (*unique to BofA*)
-5541 Service Stations (includes many 7-11s for example)
-5542 Automated Fuel Dispensers (almost all pay at the pump classifies as this one regardless of brand or retailer)
-5983 Fuel Dealers (*unique to BofA*)
This is confirmed from the 3% category choice explanation website.
Online Shopping
This category is actually the most restrictive of all the new choices. In general, a purchase made "online" via website or mobile should count. However, if the merchant is categorized as a service, it will likely not count. Paypal DOES pass along the MCC of the underlying merchant seller. If you are buying physical goods, it should be okay, but if you are buying any virtual item (gift cards, etc.), be aware that it probably will not count.
It appears that BofA did a NOT to include for this category and selected as many services that will not count (including tuition, taxes, healthcare bills, insurance, memberships). It also appears that BofA did NOT exclude any travel merchants where you make the purchase online (OTA/direct airlines/prepaid hotels?). So, it is an overlap of Travel.
MCCs that have confirmed to work (with Online Transaction flag as Y):
-4722 Travel Agencies and Tour Operators
-5300 Wholesale Clubs
-5399 General Merchandise/Misc
-5732 Electronics Stores
-5912 Drug Stores and Pharmacies
-5992 Florists
-8675 Automobile Associations
Paypal okay via online transaction if underlying merchant is in an allowed category.
Any major gift card use such as BHN (common charge prefix for Blackhawk), Cashstar (back-end for many retailer direct online gift card purchases) has been manually removed/deactivated so that they do not pay the 3% part.
Dining
Includes:
-5812 Eating Places and Restaurants
-5813 Drinking Places/Bars
-5814 Fast Food Restaurants
Not likely:
-5462 Bakeries (this is a fixed 2% category with grocery stores noted below )
-5811 Caterers
This is confirmed from the 3% category choice explanation website.
From another BofA card reference:
Travel
BofA went further than all other BofA cards with travel categories for this card:
Note, it includes many, but not all Entertainment categories found in other cards such as Savor or Marvel. Some of the key ones excluded are Movies Theater-related. This card does include theme park tickets (at the ticket booth), but not retail stores or dining in theme parks. This card also has some unusual ones such as airports and art galleries.
Another BofA card that defines travel purchases indicates the following categories
This information needs to be verified (likely through card experience):
a) Airlines, Air Carriers (MCC Codes 3000-3299, 4511); (b) Lodging-Hotels, Motels, Resorts (MCC codes 3501-3999, 7011); (c) Car Rental Agencies (MCC codes 3351-3441, 7512, 4121); (d) Cruise Lines (MCC code 4411); Travel Agencies and Tour Operators (MCC codes 4722, 4416, 4417); (e) Passenger Railways (MCC code 4112); (f) Transportation-Suburban and Local Commuter Passenger, including Ferries (MCC Code 4111); (g) Bus Lines (MCC codes 4131, 4722); (h) Transportation Services-not elsewhere classified (MCC code 4789); (i) Real Estate Agents and Managers-Rentals (MCC code 6513); (j) Timeshares (MCC code 7012); (k) Campgrounds and Trailer Parks (MCC Code 7033); (l) Motor Home and Recreational Vehicle Rental (MCC Code 7519); (m) Tourist Attractions and Exhibits (MCC Code 7991, 5971); (n) Amusement Parks, Carnivals, Circuses, Fortune Tellers (MCC Code 7996); (o) Aquariums, Dolphinariums, Zoos, and Seaquariums (MCC Code 7998); (p) Boat Leases and Boat Rentals (MCC Code 4457); or (q) Recreation Services-not elsewhere classified (MCC Code 7999)
Another list for a different program indicates (looks like it overlaps with the above list):
Drug Stores
-5912 (Drug Stores and Pharmacies)
-5122 (Drug Proprietors and Drug Sundries) (*unique to BofA*)
This is confirmed from the 3% category choice explanation website.
Home Improvement/Furnishings
Very broad list of MCCs.
This is confirmed from the 3% category choice explanation website.
Fixed 2% grocery stores and wholesales clubs
BofA's 2% grocery stores category is broader than AmEx's US supermarket category.
BofA does list the relevant matching description of the merchant for the MCC on the website transactions, but does not expose the actual MCC code.
The card will continue to earn 1% elsewhere and that is not included in the $2500 per quarter spend limit.
There does not appear to be any limitation on location of merchants worldwide to earn rewards as long as the merchant is properly categorized (unlike AmEx). Those customers who had the old Schwab 2% Invest First Visa issued by a BofA affiliate that did not otherwise cancel or proactively change the card when it was discontinued may have received a BofA Cash Rewards card thats does not have an added FTF (beyond Visa's embedded FTF rate) which is different than the card currently offered to customers. This version of the card offers international reward benefits for those customers.
There is a limit of $2500 in 2% or 3% category spending per quarter that will receive the bonus rate. Rewards can be redeemed at face value for any amount at any time. As long as account is in good standing, rewards do not expire. The only reason to hold rewards would be if you plan to qualify for Preferred Rewards and wish to get the relationship bonus rate for older spending when you do redeem the balance.
BofA customer bonuses:
All BofA deposit customers can receive at least a 10% bonus when they earn their reward if their total banking relationship indicates that they have a BofA checking or savings account. This is usually associated by having a BofA online account which has both the deposit and Cash Rewards card on the same login.
Customers who have signed up for Preferred Rewards that requires a deposit relationship balance can currently receive a 25% to 75% redemption bonus. This can tremendously increase the value of the 3% and 2% categories when compared to other cards.
Information on the thresholds for that program are located here: https://www.bankofamerica.com/preferred-rewards/
BofA has published a comprehensive document indicating the MCC for each bonus category.
BofA has published a pre-release article about the program for customers.
BofA has published a website detailing the 3% categories.
On a calendar monthly basis, a customer can choose a category from a pre-determined list to receive 3% cash rewards. If you do not change the category in a given calendar month, it will stay with what you picked the previous calendar month (or gas if none was ever chosen). You must make the change before the purchase happens (the term "future purchases" is used) because bonus rewards are calculated immediately when transactions post (unlike AmEx, but similar to Chase and Barclays). It seems possible that you could split the month among two categories if you leave the previous calendar month category and then change it later in the new month.
Category selection happens on mobile app or Online Banking website (not by phone call or chat).
Currently, that list is:
Gas (this will be the default if a choice is not selected)
-Pay at the pump (automated fuel dispensers including Costco Gas, Sam's Club and gas stations at grocery stores that categorize as fuel dispensers)
-Pay inside (when the convenience store is categorized as a service station)
-5172 Petroleum and Petroleum Products (*unique to BofA*)
-5541 Service Stations (includes many 7-11s for example)
-5542 Automated Fuel Dispensers (almost all pay at the pump classifies as this one regardless of brand or retailer)
-5983 Fuel Dealers (*unique to BofA*)
This is confirmed from the 3% category choice explanation website.
Gas and fuel merchants include merchants whose primary line of business is the sale of automotive gasoline that can be purchased inside the service station or at the automated fuel pump and gasoline purchased at boat marinas, as well as fuel dealers whose primary line of business is the sale of heating oil, propane and other fuels, such as kerosene.
This category is actually the most restrictive of all the new choices. In general, a purchase made "online" via website or mobile should count. However, if the merchant is categorized as a service, it will likely not count. Paypal DOES pass along the MCC of the underlying merchant seller. If you are buying physical goods, it should be okay, but if you are buying any virtual item (gift cards, etc.), be aware that it probably will not count.
It appears that BofA did a NOT to include for this category and selected as many services that will not count (including tuition, taxes, healthcare bills, insurance, memberships). It also appears that BofA did NOT exclude any travel merchants where you make the purchase online (OTA/direct airlines/prepaid hotels?). So, it is an overlap of Travel.
MCCs that have confirmed to work (with Online Transaction flag as Y):
-4722 Travel Agencies and Tour Operators
-5300 Wholesale Clubs
-5399 General Merchandise/Misc
-5732 Electronics Stores
-5912 Drug Stores and Pharmacies
-5992 Florists
-8675 Automobile Associations
Paypal okay via online transaction if underlying merchant is in an allowed category.
Any major gift card use such as BHN (common charge prefix for Blackhawk), Cashstar (back-end for many retailer direct online gift card purchases) has been manually removed/deactivated so that they do not pay the 3% part.
Dining
Includes:
-5812 Eating Places and Restaurants
-5813 Drinking Places/Bars
-5814 Fast Food Restaurants
Not likely:
-5462 Bakeries (this is a fixed 2% category with grocery stores noted below )
-5811 Caterers
This is confirmed from the 3% category choice explanation website.
From another BofA card reference:
Travel and Dining Category: Dining includes Restaurants, including Fast Food, and Drinking Establishments, such as Bars or Taverns. [..]
BofA went further than all other BofA cards with travel categories for this card:
Airlines, Air Carriers, Airports, Airport Terminals, Flying Fields Amusement Parks, Carnivals, Circuses, Fortune Tellers Aquariums, Dolphinariums, Zoos and Seaquariums Art Dealers and Galleries Boat Leases and Boat Rentals Bus Lines Campgrounds and Trailer Parks Car Rental Agencies Cruise Lines Direct Marketing — Travel-Related Arrangements Services Hotels, Motels, Resorts Motor Home and Recreational Vehicle Rental Package Tour Operators (for use in Germany only) Parking Lots and Garages Real Estate Agents and Managers (Rentals) Recreation Services (not elsewhere classified) Suburban and Local Commuter Passenger Travel, including Ferries Taxicabs and Limousines Timeshares Truck and Trailer Utility Rentals Passenger Railways Toll and Bridge Fees Tourist Attractions and Exhibits Transportation Services (not elsewhere classified) Travel Agencies and Tour Operators
Another BofA card that defines travel purchases indicates the following categories
This information needs to be verified (likely through card experience):
a) Airlines, Air Carriers (MCC Codes 3000-3299, 4511); (b) Lodging-Hotels, Motels, Resorts (MCC codes 3501-3999, 7011); (c) Car Rental Agencies (MCC codes 3351-3441, 7512, 4121); (d) Cruise Lines (MCC code 4411); Travel Agencies and Tour Operators (MCC codes 4722, 4416, 4417); (e) Passenger Railways (MCC code 4112); (f) Transportation-Suburban and Local Commuter Passenger, including Ferries (MCC Code 4111); (g) Bus Lines (MCC codes 4131, 4722); (h) Transportation Services-not elsewhere classified (MCC code 4789); (i) Real Estate Agents and Managers-Rentals (MCC code 6513); (j) Timeshares (MCC code 7012); (k) Campgrounds and Trailer Parks (MCC Code 7033); (l) Motor Home and Recreational Vehicle Rental (MCC Code 7519); (m) Tourist Attractions and Exhibits (MCC Code 7991, 5971); (n) Amusement Parks, Carnivals, Circuses, Fortune Tellers (MCC Code 7996); (o) Aquariums, Dolphinariums, Zoos, and Seaquariums (MCC Code 7998); (p) Boat Leases and Boat Rentals (MCC Code 4457); or (q) Recreation Services-not elsewhere classified (MCC Code 7999)
Another list for a different program indicates (looks like it overlaps with the above list):
How Your Travel Credit Works: A travel credit is applied as a statement credit to your account to offset travel purchases from qualifying merchants in these travel-related categories: airlines, hotels, motels, timeshares, trailer parks, motor home and recreational vehicle rentals, campgrounds, car rental agencies, truck and trailer rental, cruise lines, travel agencies, tour operators and real estate agents, operators of passenger trains, buses, taxis, limousines, ferries, boat rentals, parking lots and garages, tolls and bridge fees, tourist attractions and exhibits like art galleries, amusement parks, carnivals, circuses, aquariums, zoos and the like. Purchases from some merchants that provide travel-related goods and services will not be eligible for a travel credit, like in-flight goods and services, and duty-free airport purchases.
-5912 (Drug Stores and Pharmacies)
-5122 (Drug Proprietors and Drug Sundries) (*unique to BofA*)
This is confirmed from the 3% category choice explanation website.
Home Improvement/Furnishings
Very broad list of MCCs.
Air Conditioning and Refrigeration Repair Shops Antique Shops for Sales, Repairs and Restoration Services Architectural, Engineering and Surveying Services Building Materials, Lumber Stores, Carpentry Carpet and Upholstery Cleaning Contractors, Concrete Crystal and Glassware Stores Drapery, Upholstery and Window Coverings Stores Electrical Contractors Electrical Parts and Equipment Equipment, Furniture and Home Furnishings Stores (except Appliances) Equipment, Tool, Furniture and Appliance Rental and Leasing Fireplace, Fireplace Screens and Accessories Stores Floor Covering Stores Florist Suppliers, Nursery Stock and Flowers Furniture Reupholstering, Repair and Refinishing General Contractor/Residential Building Glass, Paint, Wallpaper Stores Hardware Equipment and Supplies Hardware Stores Heating, Plumbing, Air Conditioning Contractors Home Supply Warehouse Stores Household Appliance Stores Landscaping and Horticultural Services Lawn and Garden Supply Stores Masonry, Stonework, Tile Setting, Plastering, Insulation Contractors Miscellaneous House Furnishing Specialty Shops Office and Commercial Furniture Paints, Varnishes and Supplies Plumbing and Heating Equipment and Supplies Roof, Siding and Sheet Metal Work Contractors Special Trade Contractor (not elsewhere classified)
Fixed 2% grocery stores and wholesales clubs
Purchases made at eligible grocery store merchants and wholesale clubs, which include supermarkets, freezer/meat lockers, candy, nut or confection stores, dairy product stores, and bakeries. Excluded from this Bonus Category are superstores and smaller stores (like drug stores and convenience stores) that sell groceries and other products.
BofA does list the relevant matching description of the merchant for the MCC on the website transactions, but does not expose the actual MCC code.
The card will continue to earn 1% elsewhere and that is not included in the $2500 per quarter spend limit.
There does not appear to be any limitation on location of merchants worldwide to earn rewards as long as the merchant is properly categorized (unlike AmEx). Those customers who had the old Schwab 2% Invest First Visa issued by a BofA affiliate that did not otherwise cancel or proactively change the card when it was discontinued may have received a BofA Cash Rewards card thats does not have an added FTF (beyond Visa's embedded FTF rate) which is different than the card currently offered to customers. This version of the card offers international reward benefits for those customers.
There is a limit of $2500 in 2% or 3% category spending per quarter that will receive the bonus rate. Rewards can be redeemed at face value for any amount at any time. As long as account is in good standing, rewards do not expire. The only reason to hold rewards would be if you plan to qualify for Preferred Rewards and wish to get the relationship bonus rate for older spending when you do redeem the balance.
BofA customer bonuses:
All BofA deposit customers can receive at least a 10% bonus when they earn their reward if their total banking relationship indicates that they have a BofA checking or savings account. This is usually associated by having a BofA online account which has both the deposit and Cash Rewards card on the same login.
Customers who have signed up for Preferred Rewards that requires a deposit relationship balance can currently receive a 25% to 75% redemption bonus. This can tremendously increase the value of the 3% and 2% categories when compared to other cards.
Information on the thresholds for that program are located here: https://www.bankofamerica.com/preferred-rewards/
Bank of America Cash Rewards - 3% category qualifying options
Sep 14, 2021, 3:47 pm
#316
Join Date: Apr 2009
Posts: 679
Can you get them to put through a small charge, so you can see how it codes before making the big payment?
Nov 9, 2021, 1:43 pm
#318
FlyerTalk Evangelist
Join Date: Aug 2001
Location: RSW
Programs: Delta - Silver; UA - Silver; HHonors - Diamond; IHG - Spire Ambassador; Marriott Bonvoy - Titanium
Posts: 14,185
Nov 9, 2021, 2:47 pm
#319
Join Date: May 2014
Location: Charleston, SC
Programs: SPG/Marriot Gold, Hilton Gold
Posts: 412
I noticed a payment I always make through Quickbooks no longer triggers "online shopping." It was for yard service, so it technically was not online shopping, but still. Hopefully, this isn't the start of a stricter online category.
Nov 9, 2021, 2:53 pm
#320
Join Date: Aug 2005
Posts: 66
My purchase at a tour website also classify as N for online. Doesn't make sense.
Nov 10, 2021, 10:25 pm
#321
Join Date: Apr 2009
Posts: 679
And I noticed a couple of months ago that some travel charges (cruise payments) which used to reliably show as online did not code that way on a card had the 3% category set to online. I was not completely sure that it had changed because I paid these through different TA's than in the past, but with these other data points, I wonder if something hasn't changed to prevent being able to double-dip on categories.
Nov 10, 2021, 10:28 pm
#322
Join Date: Apr 2009
Posts: 679
It also showed up as an online charge, but I had no way of knowing that in advance.
Nov 11, 2021, 6:12 am
#323
Join Date: Mar 2013
Location: EWR
Programs: World of Hyatt, Marriott Bonvoy, Hilton Honors, UA Mileage Plus
Posts: 1,255
I have the Business Advantage Cash Rewards and received a snail mail upgrade offer to the Business Advantage Unlimited Cash Rewards (1.5% everywhere) with a $200 bonus after spending $1000 by January 10.
There was a QR code on the letter that I scanned and I was immediately enrolled in the offer. Pretty slick by BOA.
There was a QR code on the letter that I scanned and I was immediately enrolled in the offer. Pretty slick by BOA.
Nov 16, 2021, 7:03 pm
#325
Join Date: Mar 2013
Location: EWR
Programs: World of Hyatt, Marriott Bonvoy, Hilton Honors, UA Mileage Plus
Posts: 1,255
I have the Business Advantage Cash Rewards and received a snail mail upgrade offer to the Business Advantage Unlimited Cash Rewards (1.5% everywhere) with a $200 bonus after spending $1000 by January 10.
There was a QR code on the letter that I scanned and I was immediately enrolled in the offer. Pretty slick by BOA.
There was a QR code on the letter that I scanned and I was immediately enrolled in the offer. Pretty slick by BOA.
Nov 16, 2021, 7:06 pm
#326
Join Date: Jun 2008
Location: BAY AREA
Posts: 1,125
Jan 30, 2022, 9:34 am
#327
Join Date: Mar 2016
Posts: 16
Multiple cards?
My wife and I have this card and max out the 3% category typically within a month. We have the top tier for Premier Rewards, so the just over 5% for online shopping works out nicely.
I received a link recently from the University I attended that offers a card through Bank of America that has the exact same rewards structure. My question is, can I apply for this and will it be considered a new card or will BoA view it as a duplicate of my existing account?
Here is the card:
https://www.foriowa.org/iowarewards/
I received a link recently from the University I attended that offers a card through Bank of America that has the exact same rewards structure. My question is, can I apply for this and will it be considered a new card or will BoA view it as a duplicate of my existing account?
Here is the card:
https://www.foriowa.org/iowarewards/
Feb 1, 2022, 9:40 am
#328
Join Date: Aug 2016
Posts: 81
Thank you for this link. I picked the card up yesterday. Love the black on gold. You can definitely combine this with the red (generic) Customized Cash Rewards card. I have three now—generic CCR, Major League Baseball CCR, and my new U of I CCR. Incidentally, I had to apply by phone as your handy link no longer directs to a valid application page. The BofA rep initially started an application for an Iowa State University card 
. Good thing I noticed. She had a pretty thick accent.
It looks like the link is working again today.
. Good thing I noticed. She had a pretty thick accent.It looks like the link is working again today.
Last edited by holyPockets; Feb 1, 2022 at 9:42 am Reason: Link works again.
Feb 6, 2022, 5:59 pm
#329
Join Date: Mar 2016
Posts: 16
Thank you for this link. I picked the card up yesterday. Love the black on gold. You can definitely combine this with the red (generic) Customized Cash Rewards card. I have three now—generic CCR, Major League Baseball CCR, and my new U of I CCR. Incidentally, I had to apply by phone as your handy link no longer directs to a valid application page. The BofA rep initially started an application for an Iowa State University card . Good thing I noticed. She had a pretty thick accent.
It looks like the link is working again today.
. Good thing I noticed. She had a pretty thick accent.It looks like the link is working again today.
Feb 9, 2022, 5:33 am
#330
Join Date: Nov 2000
Location: BWI
Programs: Everyone!
Posts: 1,024
Thanks for the WIKI. I was going crazy to figure out what kind of backwards a88 logic they were using to say YouTube Premium and Hulu are not online transactions...........turns out they categorize them as "Cable/Satellite Services", which are excluded categories. Back to PayPal for those guys.