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Preferred Rewards

Discover your benefits and rewards

There are 3 tiers in Preferred Rewards. Your tier is based on your qualifying combined balances in your Bank of America® banking and/or Merrill Edge® and Merrill Lynch® investing and trading accounts. As your qualifying balances grow, so do your benefits. Once enrolled, we'll move you up automatically when your balances qualify you for the next rewards tier.

Explore the benefits you could receive as a Preferred Rewards client. Please access your link list to display the content for the three different reward tiers

Preferred Rewards gives you benefits based on the balances in your Bank of America® banking and Merrill Edge® investing and trading accounts. Learn more and then simply enroll in Preferred Rewards.

Explore the benefits Please access your link list to display the content for the three different reward tiers

Displayed benefits are for the following amount:
Display Gold tier content twenty thousand dollars or more Display Platinum tier content fifty thousand dollars or more Display Platinum Honors tier content one hundred thousand dollars or more
Platinum Honors
Gold $20,000 – $50,000
Platinum $50,000 – $100,000
Platinum Honors $100,000+
3-month average combined balance

  • Earn more for every dollar you save

    An interest rate booster on a Savings account.

    For example, if the interest rate on a Rewards Savings account is 1.00%, a 5%5%10%20% rate booster would increase the interest rate to 1.05%1.05%1.10%1.20%. This interest rate is for illustration only. Visit the Rewards Savings page on for current rates.

    5% interest rate booster
    10% interest rate booster
    Platinum Honors
    20% interest rate booster
  • A rewards bonus on eligible Bank of America credit cards.

    Eligible credit cards earn a 25%, 50% or 75% rewards bonus.

    For example, if you have a cash back credit card and you redeem $100 into a Bank of America checking or savings account, your total cash back would increase to $125$125$150$175.

    Review card eligibility guidelines layer

    25% rewards bonus
    50% rewards bonus
    Platinum Honors
    75% rewards bonus
  • Non-Bank of America ATM transactions when you need them

    No-fee ATM transactions (withdrawals, balance inquiries and balance transfers) with a Bank of America debit or ATM card at non-Bank of America ATMs in the U.S.

    up to 12/year (1 withdrawal, balance inquiry and balance transfer each per statement cycle)
    Platinum Honors
  • Preferred pricing with Merrill Edge

    $0 online stock and ETF trades with a Merrill Edge online investing and trading account.

    Link to Merrill Edge Fees pageOther fees may apply.

    Plus, get access to Merrill Edge MarketPro®, a fully customizable trading platform.

    up to 30 per month

    Plus Merrill Edge MarketPro®
    Platinum Honors
    up to 100 per month

    Plus Merrill Edge MarketPro®
  • The fast track for client service

    Priority service through the Preferred Rewards Center, a dedicated team of specialists available to handle product and service needs.

  • Preferred Rewards mortgage benefits

    Save at closing on a new Bank of America purchase or refinance mortgage with a reduction in the Origination Fee, based on your Preferred Rewards tier.

    Platinum Honors
  • Drive away with an interest rate discount

    Want to get an even better rate? As a Preferred Rewards client, you can receive a 0.25%, 0.35% or 0.50% interest rate discount on a new Bank of America auto purchase or refinance loan.

    Platinum Honors
  • Banking made better with no-fee services

    Enjoy fee waivers on everyday services for Bank of America personal checking and savings accounts:

    • Monthly maintenance fees waived on up to 4 eligible checking and 4 savings accounts from Bank of America
    • No fees for ATM or debit card replacement including rush replacement, standard check orders, cashier’s checks, Check Image Service, check copies and incoming domestic wire transfers
    • Overdraft Protection transfer fees waived from your linked savings accounts, secondary checking accounts or from a Home Equity Line of Credit
    • See the Personal Schedule of Fees for more information.

    Platinum and Platinum Honors tier clients also enjoy:

    • No fees for incoming international wire transfers and a small safe deposit box

Card eligibility guidelines

Most Bank of America® branded consumer credit cards (such as the Cash Rewards, Travel Rewards, and Premium Rewards® credit cards) are eligible to receive the Preferred Rewards bonus, as long as the card account is open and in good standing. The Preferred Rewards bonus will replace the 10% customer bonus you may receive with certain cards.

Cards not eligible for the rewards bonus:
  • Non-rewards credit cards
  • Business purpose credit cards
  • BankAmericard Better Balance Rewards®
  • Merrill Lynch branded (MERRILL+®, Merrill Lynch® Octave® and Private Banking and Investment Group Octave®)
  • U.S. Trust® Octave®
  • AAA® Gas Rebate
  • Alaska Airlines®
  • Allegiant World MasterCard®
  • Amtrak Guest Rewards®
  • Amway™
  • Asiana Airlines®
  • Azamara Club Cruises®
  • Bass Pro Shops®
  • Celebrity Cruises®
  • Royal Caribbean International®
  • Spirit Airlines®
  • Virgin Atlantic Airways®

This list is subject to change without prior notice.

Enroll in Preferred Rewards

There are no fees to join or participate in Preferred Rewards. Here's all you need to enroll:

Sign in to Online Banking to see if you qualify.

Not an Online Banking Customer?
Don't have a checking account?
Would you like to speak to a Preferred Rewards specialist?
Call 888.888.RWDS (888.888.7937)

Enroll in Preferred Rewards

There are no fees to join or participate in Preferred Rewards. Here's all you need to enroll:

To learn more or enroll today: