Bank of America Rolls Out New Rewards Management Program
Bank of America has started rolling out My Rewards, a new rewards management program. With My Rewards, users can review all of their Bank of America rewards accounts on a single platform, either online or through the mobile app.
The online version of My Rewards is now available, and the mobile version will be available later this month. The platform provides total earnings for Preferred Rewards, credit cards and BankAmeriDeals, so users can see where they are getting the best returns. Bank of America also has suggestions to help users maximize their rewards and redeem them at the optimal times.
My Rewards recommends ways to earn new rewards for each program, giving users a better understanding of the bonuses available to them.
Michelle Moore, BofA’s head of Consumer Advanced Solutions and Digital Banking, said, “Clients told us they wanted more visibility into how their rewards stack up, and this new feature provides them one convenient place to see and manage their rewards.”
A study from last year showed 31% of cardholders have never redeemed their rewards. This may be due to consumers not understanding what they’ve earned and how to redeem it. My Rewards allows users to take a deep look at each of their rewards programs so they get the most from their spending habits.