For the Travel Rewards
card, you can redeem the points for travel expense credits. Also can redeem for cash and gift cards for less value.
- Pay all or part of travel related expenses in recent 12 months with points , you can get 1Â¢/point, which is the maximum you can achieve (plain 1.5% back)
- Redeem for cash and get 0.6Â¢/point (likes 0.9% back)
- Redeeming for gift card appears to be less than 1Â¢/point , but need to log in to see offers; I have no access
Note that BofA banking customers get 10% bonus for the rewards, making it 1.65 points/$ earning. Similarly, Cash Rewards also give such bonus to banking customers.