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Bank of America travel rewards guide

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Key takeaways

• The Bank of America travel rewards program allows cardholders to redeem points for statement credits to cover travel-related purchases making for a simple, flexible travel rewards option.
• Bank of America travel rewards cards have various benefits and perks, but may not be the best option for frequent travelers compared to other programs since there isn’t an option to transfer points to travel loyalty programs.
• Bank of America's Preferred Rewards program can increase the value of rewards by 25 to 75 percent for members with qualifying accounts.

Bank of America’s travel rewards program isn’t as lucrative or extensive as what rivals like American Express or Chase offer, but some cardholders may find value in its simplicity, particularly if you are a Bank of America Preferred Rewards client.

If you’ve got one or more Bank of America credit cards that allow you to earn and redeem rewards for travel, or are interested in applying for one, this guide can help explain the basics of the bank’s travel program, including how to earn and redeem travel rewards and more.

Bank of America travel rewards basics

Compared to other issuers, Bank of America has a smaller portfolio of   travel credit cards , but there are some similarities in how you earn and redeem travel rewards with the cards.

Essentially, you can redeem the rewards you earn for statement credits to cover travel-related purchases. Some Bank of America travel cards also allow you to cover purchases like dining with your award statement credits.

With each card, and in fact with any Bank of America credit card, you also gain access to the Bank of America Travel Center , where you can search for travel deals and pay with cash or rewards. The site operates much like a travel search engine, similar to Expedia or Orbitz.

Bank of America credit card and debit card holders have access to a variety of partner offers and deals, but the travel rewards program still lacks travel transfer partners, which is where many travel rewards aficionados look for the best value.

However, as we’ll explain below, being a member of Bank of America’s Preferred Rewards program could increase the value of the rewards you earn by 25 to 75 percent, making Bank of America’s somewhat limited travel rewards program more valuable.

How to earn Bank of America travel rewards points

The only thing you need to do to earn rewards is use your Bank of America card for eligible purchases; you don’t need to keep track of rotating bonus categories or activate offers in your Bank of America account to earn rewards. For some of the travel cards, you’ll earn more rewards in travel and dining categories, but there’s no need to track or apply for your rewards.

Additionally, Bank of America’s travel and dining categories are more extensive than those of many travel rewards cards, so you’ll be able to redeem your points for statement credit for everything from flights to zoo tickets.

How to redeem Bank of America travel rewards points

You can redeem rewards for a statement credit to cover eligible travel purchases (or dining purchases with the Bank of America® Travel Rewards credit card) at a value of 1 cent per point, so 2,500 points equals $25 in statement credit. Other redemption options include cash back as a check or direct deposit into an eligible Bank of America checking or savings account or a Merrill Cash Management Account , but at a significantly reduced value of .006 cents per point (therefore 2,500 points equals $15). You can also redeem points for gift cards, but that value will vary.

Travel credits and cash rewards redemptions require a minimum of 2,500 points and gift cards require at least 3,125 points to redeem.

How much are Bank of America travel rewards points worth?

Bank of America travel rewards are worth 1 cent per point when redeemed for statement credit to cover eligible purchases or to purchase travel through the travel portal, but the value goes down when redeemed for cash back (.006 cents each) and varies for gift card redemptions.

Since there isn’t an opportunity to boost value with transfer partners, the best value you can aim for is 1 cent per point. While it isn’t a top redemption value, the tradeoff is the flexibility and simplicity it offers.

How do Bank of America travel rewards compare to other points’ values?

In most cases, your Bank of America travel rewards points are worth 1 cent per point. Premium Rewards Elite cardholders can get a 20 percent boost for airfare bookings through the Travel Center when you pay with points, which means a flight that costs 20,000 points will require about 16,700 points thanks to the 20 percent bonus.

Keep in mind that the Premium Rewards Elite card charges a $550 annual fee, so that’s a hefty price for a 20 percent rewards bonus (although there are other benefits of the card, of course).

Issuers such as Chase and American Express offer similar boosts for some cardholders redeeming points through their travel portals — and on cards with lower annual fees. Additionally, those issuers also have transfer partners that can allow you to get more value for travel with partner airlines and hotels.

Bank of America doesn’t have transfer partners, so there isn’t an option for that extra redemption value. That said, if you’re a Preferred Rewards member, that may make up for the lack of travel partners, but it’s something you’d have to analyze on a case-by-case basis.

Who are Bank of America travel cards best for?

As noted, this travel rewards program is best if you want simplicity and flexibility in earning and redeeming travel rewards. The Bank of America travel cards allow you to use your rewards to cover eligible travel purchases or make purchases directly through the portal, but the redemption value isn’t stellar.

If you are a Bank of America Preferred Rewards program member, you’ll get much more value than other cardholders. This invitation-only program gives you access to banking services discounts and rewards-earning boosts and membership is based on the combined balance of qualifying Bank of America or Merrill Investment accounts. Here’s a look at the five tiers offered:

In this scenario, you get the rewards boost on your earnings, but the redemption options remain a fixed value.

Bank of America travel credit cards

Bank of America has a handful of cards that offer ongoing rewards and travel-focused perks. Here are the cards you can choose from:

Bank of America® Travel Rewards credit card

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The Bank of America® Travel Rewards credit card is an entry-level travel credit card that allows you to earn basic travel rewards without paying an annual fee. Its rewards rate is simple; just swipe and earn 1.5X points on all of your spending without any limit. There’s no need to track spending categories or activate any special offer on your account to receive your rewards. Further, you can also earn 3X points on travel bookings and other purchases through the Bank of America Travel Center (except for insurance).

If you’re in the market to pay off existing credit card debt or fund an upcoming purchase, this card can be a good option thanks to its 0 percent intro APR for 15 billing cycles on balance transfers made within the first 60 days and on purchases (followed by a variable APR between 19.24 percent and 29.24 percent).

For more information on card perks, read our Bank of America Travel Rewards card benefits guide .

• Rewards rate : Unlimited 1.5X points on all purchases
• Welcome bonus : 25,000 online bonus points when you make $1,000 in purchases within 90 days of opening the account (worth $250 toward travel purchases)
• Annual fee : $0
• Additional perks : No foreign transaction fees ; long intro APR offer on purchases and balance transfers; Visa Signature benefits

Bank of America® Premium Rewards® credit card

The Bank of America® Premium Rewards® credit card offers another level of travel rewards: 2X back on all travel and dining purchases and a flat 1.5X rate on everything else. Plus, its welcome bonus is relatively easy to earn for an annual-fee-carrying travel card — spend just $4,000 in the first 90 days to earn 60,000 online bonus points.

The card also offers statement credits toward Global Entry or TSA PreCheck membership every four years and an annual airline incidental credit. And with Visa Signature Luxury Hotel Collection perks, you can enjoy automatic room upgrades, late checkout, complimentary breakfast and more.

Read our Bank of America Premium Rewards card benefits guide for more information on all the card has to offer.

• Rewards rate : Unlimited 2X points on travel and dining purchases; 1.5X points on other purchases
• Welcome bonus : 60,000 online bonus points when you make $4,000 in purchases within 90 days of account opening
• Annual fee : $95
• Additional perks : $100 incidental airline credit; up to $100 in credits toward your Global Entry or TSA PreCheck application fee; Visa Signature Luxury Hotel Collection perks; no foreign transaction fees

Bank of America® Premium Rewards® Elite credit card*

While the Bank of America Premium Rewards Elite credit card has the same rewards structure as the Premium Rewards card, it’s packed with a few more benefits to help offset its $550 annual fee.

Enjoy $200 more in airline incidental statement credits compared to the Premium Rewards card, the same Global Entry or TSA PreCheck statement credit opportunity and Visa Infinite Luxury Hotel Collection perk access. Plus, you’ll get $150 in lifestyle statement credits each year toward things like food delivery and streaming service costs, discounts on airfare redemptions through the Travel Center as well as Priority Pass Select membership, giving you access to 1,300-plus airport lounges worldwide.

• Rewards rate : Unlimited 2X points on travel and dining purchases; 1.5X points on all other purchases
• Welcome bonus : 75,000 online bonus points when you make $5,000 in purchases within 90 days of account opening
• Annual fee : $550
• Additional perks : $300 in annual airline incidental statement credits; $150 in annual lifestyle statement credits; up to $100 in credits toward Global Entry or TSA PreCheck ; complimentary Priority Pass Select membership; 20 percent off airfare redemptions through the Bank of America Travel Center; Visa Infinite Luxury Hotel Collection perks; no foreign transaction fees

Bank of America Travel Rewards Credit Card for Students

Although its features and benefits are minimal, the Bank of America® Travel Rewards Credit Card for Students can be a good entry-level card for students with little-to-no credit history. You’ll get 1.5X points on all purchases, plus the ability to redeem rewards for a statement credit on qualifying travel purchases.

There’s also a 0 percent intro APR on balances made in the first 60 days and on purchases for the first 15 billing cycles (followed by a variable APR between 19.24 percent and 29.24 percent), which can help students who have a large purchase on the horizon (or some existing debt) that they’d like to pay off over time (think textbooks or dorm supplies).

• Rewards rate : 1.5X points on all purchases
• Welcome bonus : 25,000 online bonus points after spending $1,000 in purchases within your first 90 days
• Additional perks : No foreign transaction fees; zero-interest offer on purchases

Bank of America® Travel Rewards Secured credit card*

Travel rewards cards for people who are working to build their credit are rare. This one allows you to work on building your credit with responsible use while also earning some travel rewards.

This is a secured card , so you’ll need to provide a security deposit of at least $200 to establish your line of credit. While the card does offer rewards, any secured card should be viewed primarily as a means to improving your credit with consistently responsible use. In fact, Bank of America will periodically review your account and relationship with the bank overall to decide whether to return your security deposit.

• Earn 1.5X points on all your purchases
• $0 annual fee
• Minimum $200 security deposit (up to $5,000) to establish you line of credit

Bank of America travel rewards frequently asked questions

Do bank of america travel rewards expire, can i share points with friends and family members, can you buy bank of america travel rewards points, the bottom line.

Bank of America’s travel rewards program isn’t as extensive as those of some other major issuers. But if your primary goal with travel rewards is simplicity and flexibility as compared to getting the best possible redemption value, Bank of America’s travel rewards program can deliver.

That said, if you’re at least a semi-frequent traveler, you’ll likely find better value from rewards programs like Chase Ultimate Rewards and American Express Membership Rewards .

*All information about the Bank of America® Premium Rewards® Elite credit card and the Bank of America® Travel rewards Secured credit card has been collected independently by Bankrate. Card details have not been reviewed or approved by the issuer.

The Bank of America content in this post was updated on May 8, 2024.

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We are currently updating our systems to bring enhanced features to the online rewards experience. As a result, this website is temporarily unavailable. Rewards redemption will not be accessible until late afternoon on May 20. Thank you for your patience.

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25,000 online bonus points offer (a $250 value) and no annual fee †

Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere, every time

Card Details

Unlimited points.

Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points as long as your account remains open. Calculate Rewards Travel Rewards

No annual fee † and no foreign transaction fees †

Enjoy no annual fee and no foreign transaction fees while earning points to use for a statement credit to pay for flights, hotel stays, vacation rentals, baggage fees, and also at restaurants – including takeout.

Low Introductory APR Offer

0% † Intro APR for your first 15 billing cycles for purchases, and for any balance transfers made within the first 60 days of opening your account. After the intro APR offer ends, a Variable APR that's currently 19.24% to 29.24% will apply. 3% † Intro balance transfer fee for the first 60 days your account is open. After the intro balance transfer fee offer ends, the fee for all future balance transfers is 4%.

25,000 online bonus points offer

25,000 online bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening – which can be redeemed for a $250 statement credit toward travel and dining purchases

Get even more rewards

Bank of America Preferred Rewards ® members earn 25%-75% more points on every purchase

That means you could earn 1.87 to 2.62 points for every $1 you spend, everywhere, every time.

Learn more about Preferred Rewards Travel Rewards

Interest Rates & Fees Summary †

Introductory apr.

0% for 15 billing cycles

Applies to purchases and to any balance transfers made within 60 days of opening your account

Standard APR

19.24% - 29.24%

Balance Transfer Fee

After the intro balance transfer fee offer ends, the fee for all future balance transfers is 4%.

† Please see Terms and Conditions for rate, fee and other cost information, as well as an explanation of payment allocation. All terms may be subject to change.

Note: minimum payments are applied to lower-interest balances first. Additional payments are applied to higher-interest balances first.

Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere, every time.

No blackout dates or restrictions and points do not expire as long as your account remains open.

Use our rewards calculator to see where your points can take you...

Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.

Flexibility to redeem points for a statement credit to pay for travel and dining purchases, such as flights, hotel stays, vacation rentals, baggage fees, and also at restaurants – including takeout.

See how many points you can earn

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for every $1 spent on purchases

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Pay yourself back with a statement credit towards travel and dining purchases

Redeem points for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars or baggage fees, or dining expenses, such as restaurants and takeout. (Redemptions for cash or gift cards will be of lesser value.)

Travel Rewards

Customer bonus

Gold Tier Preferred Rewards Bonus

Platinum Tier Preferred Rewards Bonus

Platinum Honors Tier and Higher Preferred Rewards Bonus

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Preferred Rewards makes your card even better

Note: This calculator is for illustrative purposes only. It is not intended to be printed or distributed. Your actual rewards earned will depend upon your individual purchases.

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25% Gold Tier Preferred Rewards Bonus

50% Platinum Tier Preferred Rewards Bonus

75% Platinum Honors Tier and Higher Preferred Rewards Bonus

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Bank of America Travel Rewards: 3 Surprising Ways You Can Redeem Your Points

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What do fortunetellers, dolphinariums and art galleries all have in common?

Well, not much, really — except for the fact that, according to the Bank of America® Travel Rewards credit card ’s terms and conditions, they all count as travel purchases. That's one reason this card, which has a broader definition of travel expenses than almost any other travel card on NerdWallet, as well as no annual fee, could save you hundreds on an unconventional vacation. (Another reason is that points can be redeemed for restaurant purchases, too.)

What are 'travel purchases'?

Just because you buy something while you're on vacation, it doesn't automatically count as a "travel purchase." Card issuers define purchases according to Merchant Category Codes or MCCs — four-digit numbers that show up on the purchase lines of your credit card statement. Payment networks assign MCCs to businesses based on their industry, and card issuers decide which ones count as travel. As such, the definition of "travel purchases" varies widely from issuer to issuer.

For cards that let you redeem points or miles for travel statement credit, that definition matters because it determines how you can use the rewards you earn. With the Bank of America® Travel Rewards credit card , for example, you earn 1.5 points for every $1 you spend on anything. You can then redeem those points for a credit against travel purchases. The more things count as "travel," the greater the flexibility of your rewards.

Just about every travel card classifies airline and hotel costs as travel purchases, but the Bank of America® Travel Rewards credit card takes the definition a lot further, offering a laundry list of possible redemption options rarely offered by other issuers.

If you have the Bank of America® Travel Rewards credit card , here are three surprising travel redemptions you could take advantage of on your next trip.

1. If you book stays through HomeAway, VRBO or VacationRentals.com: 'Real Estate Agents and Managers – Rentals'

What it means: “Real Estate Agents and Managers – Rentals” (MCC 6513) includes certain non-hotel lodging, such as cabin rentals and bed & breakfasts.

Why it’s awesome: In the past, the popular vacation sites HomeAway, VRBO and VacationRentals.com (all of which are owned by HomeAway) have been classified as real estate. On most cards, this would mean you couldn't redeem your rewards for a travel credit for your stay, but with the Bank of America® Travel Rewards credit card , it's a different story.

If you want to pay for your stay with points, find a property owner who accepts credit cards through the booking site's payment tools, rather than someone who accepts payments only through PayPal or by personal check. You'll have to pay a processing fee , which exceeds the rewards you'll earn on the rental itself, but if you really want to use your points for your stay, it might be worth it.

Airbnb, another peer-to-peer rental marketplace, is typically classified as “Travel Agencies and Tour Operators,” not as real estate. But since travel agencies are also included in Bank of America®’s definition of travel, you’ll still be able to redeem your travel points for these stays if you put them on your card.

2. If you’re going on a family road trip: 'Motor Home and Recreational Vehicle Rental'

What it means: "Motor Home and Recreational Vehicle Rental" (MCC 7519) includes companies that rent out RVs and campers. Although many credit card issuers include car rental companies in their definition of travel, most exclude RV rentals.

Why it’s awesome: In most states, you can rent a six-person camper for around $100 per night. Even after factoring in the cost of gas, this can be much less expensive than staying at hotels if you’re traveling with a large family. Book the rental with your Bank of America® Travel Rewards credit card , and you’ll be able to redeem your points to cover the cost, or a portion of the cost.

3. If you’re going to Disneyland or Six Flags: 'Amusement Parks, Carnivals, Circuses, Fortune Tellers'

What it means: Historically, the "Amusement Parks, Carnivals, Circuses, Fortune Tellers" category (MCC 7996) has included Disneyland and Six Flags, as well as several smaller theme parks. If you happen to visit a fortuneteller on your trip, that will most likely be included too.

Why it’s awesome: Even though amusement parks are popular vacation destinations for families, the Bank of America® Travel Rewards credit card is the only general travel card on NerdWallet that includes this MCC in its definition of “travel.” If most of your vacation budget is spent on visiting parks with roller coasters, carousel rides and water slides, a card with this kind of redemption flexibility could make your next getaway a lot less expensive.

More travel categories

To be sure, the Bank of America® Travel Rewards credit card includes many other categories in its definition of travel. Here’s a complete list of everything that’s included, in the language provided in the card's terms and conditions:

Airlines, Air Carriers (representing individual major airline carriers, and Airlines/Air Carriers)

Lodging – Hotels, Motels, Resorts (representing individual major hotel/motel chains and Hotels/Motels/Resorts)

Car Rental Agencies (representing individual major agencies; and Automobile Rental Agency)

Cruise Lines

Travel Agencies and Tour Operators

Taxicabs and Limousines

Passenger Railways

Transportation – Suburban and Local Commuter Passenger, including Ferries

Transportation Services – not elsewhere classified

Real Estate Agents and Managers — Rentals

Campgrounds and Trailer Parks

Motor Home and Recreational Vehicle Rental

Tourist Attractions and Exhibits

Art Dealers and Galleries

Amusement Parks, Carnivals, Circuses, Fortune Tellers

Aquariums, Dolphinariums, Zoos, and Seaquariums

Boat Leases and Boat Rentals

Recreation Services — not elsewhere classified

If your travel expenses are all over the map, the Bank of America® Travel Rewards credit card might be the card for you. Read NerdWallet’s full review of this card to find out if it’s a good match.

on Chase's website

1x-5x 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases.

60,000 Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.

1.5%-5% Enjoy 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.

Up to $300 Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!

on Capital One's website

2x-5x Earn unlimited 2X miles on every purchase, every day. Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options

75,000 Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening - that’s equal to $1,000 in travel.

Find the right credit card for you.

Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.

Maximize your rewards: Your points and miles checklist for 2024

I t's time to start the new year off right, and that may mean finally redeeming your Chase Ultimate Rewards points for maximum value . Or, perhaps you'll earn American Airlines Advantage status from your living room couch using American Airlines Loyalty Points .

From opting for the best Marriott Choice Benefit to selecting the right airline for your American Express airline fee credit , here's an overview of some points and miles topics to consider as you settle into 2024.

Choose your Marriott Choice benefits

If you accrued 50 or more elite nights with Marriott Bonvoy in 2023, you'll want to select your Marriott Choice Benefits by the Jan. 7 deadline.

Once you reach 50 elite nights in a calendar year, you can choose one of the following:

• Five elite night credits (toward your 2023 elite nights)
• Five Suite Night Awards
• A $1,000 discount on your favorite Marriott hotel mattress
• A $100 charity donation
• A gift of Marriott Bonvoy Silver Elite status for a family member, friend or colleague

Once you accrue 75 elite nights in a calendar year, you'll get an additional selection. Aside from the options you receive once you reach 50 elite nights, you'll also get to choose if you'd like to gift Gold Elite (rather than Silver Elite) status or add the option of a free night certificate worth up to 40,000 points.

If you don't choose by Jan. 7, Marriott will automatically choose Suite Night Awards for you.

Related: The complete guide to earning Marriott elite status with credit cards

Change your airline for the Amex fee credit

Those with an American Express card that issues an annual airline fee credit have until Jan. 31 each year to change the airline they've selected for the credit. If you do nothing, your selection will remain what it was the previous year.

Some of the American Express cards that offer annual airline fee credits include:

• The Platinum Card® from American Express (up to $200 per calendar year)
• The Business Platinum Card® from American Express (up to $200 per calendar year)

Amex says you can use the airline fee credits for "incidental fees such as checked baggage, in-flight refreshments, and flight change fees" that you pay to your chosen airline using an enrolled card.

Related: Amex Platinum card review: High annual fee with loads of perks

Earn the coveted Southwest Companion Pass

Whether you want to fly to Aruba, Jamaica, Hawaii or Nebraska, generally speaking, the earlier in the year you earn the Southwest Companion Pass , the better.

Southwest increased the Companion Pass requirement from 125,000 to 135,000 Companion Pass qualifying points (you can also earn the pass after 100 qualifying one-way flights in a calendar year). However, Southwest cardholders now enjoy an annual boost of 10,000 Companion Pass qualifying points toward Companion Pass qualification.

Once you surpass the threshold to earn a Companion Pass, your designated companion can fly for free with you on Southwest (other than the cost of taxes) for the rest of the calendar year in which it's earned and the following calendar year. That means you can earn the pass now and have it through Dec. 31, 2025.

If you're striving to earn the Companion Pass, signing up for a new Southwest credit card can help. After all, sign-up bonuses from Southwest credit cards count toward the 135,000 Companion Pass qualifying points needed to earn a Companion Pass. However, other earning activities — including buying Rapid Rewards points — won't count in your quest for the Companion Pass.

Related: How to use the Southwest Companion Pass

Select Delta Choice Benefits

Like Marriott, Delta Air Lines awards its higher-tier elite members with Choice Benefits . You get one selection when you qualify for Platinum Medallion status and three selections when you qualify for Diamond Medallion status.

Unfortunately, the timing for choosing these perks isn't always clear. Delta uses the term "Medallion year" when describing this deadline, which can (understandably) lead to confusion.

In short, you earn the next year of status based on the previous calendar year's worth of flying. So, your qualifying activity from Jan. 1, 2023, through Dec. 31, 2023, earned you status for the 2024 Medallion year.

So, what does this mean for Choice Benefits? Here it is in simpler terms:

If you earned Platinum and/or Diamond Medallion status based on your qualifying activity in the 2022 calendar year and you haven't selected your Choice Benefit(s), you must do so by Jan. 31, 2024.

If you don't make a selection before the deadline, the option(s) will disappear entirely, never to return.

It's also worth pointing out that if you still haven't made a selection for your 2023 Medallion year, carefully consider when the benefits you select will expire. You may want to select benefits such as bonus miles or a travel voucher, as these don't expire at the end of the Medallion year associated with your Choice Benefits.

You might also have Choice Benefits to select from your 2023 flying activity (2024 Medallion year). You're welcome to pick those now, but they will remain available until Jan. 31, 2025.

Related: Delta makes it harder to earn Medallion status in 2024, adds new Choice Benefit options

Use your travel and other credits

Some credit card travel credits reset with the calendar year, and some operate by cardmember year (i.e., when you were first approved for the card). Regardless, this is a good time of year to see when your available travel credits reset and put them to good use.

In addition to the Amex airline fee credits already mentioned, here's a look at some of the other travel-related credits you might have:

• Capital One Venture X Rewards Credit Card : $300 annual credit for purchases made through Capital One Travel
• Chase Sapphire Reserve : Up to $300 for travel purchases each account anniversary year (though it is based on a calendar year if you got the card before May 21, 2017)
• Citi Prestige® Card : Up to $250 for travel purchases each calendar year
• Bank of America® Premium Rewards® credit card : Up to a $100 statement credit for qualifying airline incidental fee transactions annually
• Hilton Honors American Express Aspire Card : Up to a $50 statement credit each calendar quarter (January through March, April through June, July through September and October through December) on flight purchases made through amextravel.com or with the airline directly; earn up to $200 in statement credits semi-annually (up to $400 annually) on eligible purchases made at participating Hilton resorts with your Hilton Amex Aspire Card
• The Platinum Card® from American Express : Up to $200 annual statement credit when you book a prepaid rate through Amex Fine Hotels + Resorts with American Express Travel (this benefit can also be used on stays of two nights or more at properties in The Hotel Collection)

The information for the Citi Prestige and Hilton Aspire cards has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

You might also have travel credits with airlines. If so, now is a good time to make a plan for using these credits.

A few popular rewards cards have other non-travel-related credits that reset on Jan. 1, such as:

• Up to $50 Saks Fifth Avenue statement credit is issued twice yearly for those with the Amex Platinum — once from January to June and then a second up to $50 statement credit valid from July to December. Enrollment Required.
• Up to $200 Dell statement credit is issued twice yearly for those with the Amex Business Platinum — once from January to June and then a second up to $200 statement credit valid from July to December. Enrollment Required.

Related: Which travel credits are the easiest to redeem?

Use up your elite status perks

With many airlines and hotels, you must requalify for status by the end of each calendar year. But if you don't requalify, you often keep your status until the end of January or February.

In short, you may have a month or two of "free" status if you didn't requalify. As such, the beginning of the year is an ideal opportunity to use up elite status perks left over from the previous year, such as airline or suite upgrades and potential status matches to other programs . Sometimes, you can even use upgrade certificates for friends, depending on the program's rules, so they don't always have to go to waste just because you aren't traveling in the next few weeks.

Related: When does airline elite status expire?

Label your cards to maximize your benefits

What are your award travel goals for the year ? If you want to sip a mango smoothie in a Balinese rainforest or frolic down the Champs-Elysees, you may want to add a hotel credit card that offers an annual free night to your wallet.

Do you need more Alaska Airlines miles to snag a great deal on a partner award ? If so, time to crank your Alaska Airlines Visa® credit card into regular rotation.

Brush up on your current bonus categories and goals for the year. You may want to reallocate your spending among the cards you currently hold. Or, maybe you'll realize it's a good time to pick up a new travel rewards card and spend a certain amount to receive a welcome bonus.

Whatever travel goals and credit cards you select, it's helpful to label those cards with the benefit you're chasing and the card's bonus categories so you don't miss out on optimizing your spending.

Related: Best credit cards

Remember that annual limits reset

If you've maxed out booking fourth-night-free stays with the Citi Prestige (capped at two per calendar year), hit the maximum yearly bonus limit for 6% back at U.S. supermarkets (up to $6,000 per calendar year in purchases, then 1%) on the Blue Cash Preferred® Card from American Express or reached another similar limit in 2023, this is the magic time of year when many of the clocks reset.

Not all cards reset bonus spending limits by calendar year, though. It's important to carefully review your online benefits guide to ensure you don't sacrifice any bonus points.

Related: Free elite status, bonus points and more: Credit cards offering rewards for annual spend

Bottom line

There's a lot to do at the beginning of the year to set the rest of the year off right — especially when it comes to points, miles and credit card rewards . However, a little extra work now likely means you'll maximize your rewards in 2024.

Related reading:

• How to choose the best credit card for you
• The best credit cards to reach elite status
• How to maximize benefits with the Amex Platinum Card

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.