Bank of America Unveils BofA Rewards: $150–$4,000 Value for 30M+ Clients
Starting May 27, Bank of America will launch BofA Rewards, a no-fee loyalty scheme open to 30 million+ checking clients across four tiers (<$30k to $1M+) offering $150–$4,000 in annual value. Perks span 10–75% credit card bonuses, cash-back deals, home and auto loan discounts, identity monitoring and tiered subscription reimbursements.
1. Program Launch and Eligibility
BofA Rewards will launch on May 27 as a no-fee loyalty program available to any client with an active Bank of America personal checking account, expanding eligibility to more than 30 million existing customers with no minimum balance requirements.
2. Tier Structure and Value
The program features four tiers based on three-month average combined balances across Bank of America banking and Merrill investing accounts: Member (<$30k), Preferred Plus ($30k–<$100k), Preferred Honors ($100k–<$1M) and Premier ($1M+), with potential annual benefits ranging from $150 to $4,000 depending on tier and engagement.
3. Core Benefits
All members can access credit card reward bonuses from 10% to 75%, cash-back deals, exclusive home and auto loan discounts, and enhanced identity and fraud monitoring. Preferred Honors and Premier tiers additionally receive annual subscription reimbursements (up to $96 and $180, respectively).
4. Lifestyle and Digital Experience
Preferred Honors and Premier members also enjoy curated lifestyle experiences and premium travel offers, while all members will navigate a redesigned BofA Rewards hub within the Bank of America Mobile App and Online Banking for personalized offers and streamlined benefit activation.