Bank of America Launches $100 Referral Bonus, 3–18 Month Custom Pay Plan and Credit Tool
BAC•BofA launched Refer-a-Friend offering $100 or 10,000 points per referral (max $500/50,000 points yearly) and Custom Pay Plan to convert purchases into 3–18 month fixed-fee plans. The new My Credit tool provides FICO Score insights without score impact, plus dark web and SSN monitoring for BofA Rewards members.
1. Refer-a-Friend Program
The Refer-a-Friend program allows eligible Cash Rewards, Unlimited Cash Rewards and Travel Rewards cardholders to share personalized referral links via mobile app or online banking, earning $100 or 10,000 points per approved referral, capped at $500 or 50,000 points annually.
2. Custom Pay Plan
Custom Pay Plan enables clients to convert qualifying credit card purchases into fixed-fee payment plans over 3 to 18 months, with upfront disclosure of total costs and monthly payments, while preserving rewards and purchase protections.
3. My Credit Tool
My Credit offers eligible clients free access to their FICO Score and credit report in the mobile app or website, delivers personalized insights and change alerts, and integrates with the Erica virtual assistant without impacting credit scores.
4. Enhanced Fraud and Identity Monitoring
BofA Rewards members enrolled in My Credit receive enhanced fraud and identity monitoring features such as dark web surveillance, Social Security Number monitoring, and full-service identity restoration alongside existing security tools.
