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Preferred Rewards

Preferred Rewards program details

There are 3 tiers in the Preferred Rewards program. Your tier is based on your qualifying combined balances in your Bank of America® banking and/or Merrill Edge® and Merrill Lynch® investment accounts.

Once enrolled, we'll move you up automatically when your balances qualify you for the next rewards tier. And no need to worry if your balances dip now and then. Once you reach a rewards tier, you'll keep your program benefits for a full 12 months.

GoldPlatinumPlatinum Honors
Required balance$20K to $50K3-month average combined balance$50K to $100K3-month average combined balance$100K+3-month average combined balance
Rewards Savings interest rate booster5%interest rate booster layer on a Rewards Savings Account10%interest rate booster layer on a Rewards Savings Account20%interest rate booster layer on a Rewards Savings Account
Credit card rewards bonus25%rewards bonus on eligible Bank of America credit cards
Review card eligibility guidelines layer
50%rewards bonus on eligible Bank of America credit cards
Review card eligibility guidelines layer
75%rewards bonus on eligible Bank of America credit cards
Review card eligibility guidelines layer
Non-Bank of America ATM Transactions up to 12/yearno-fee ATM transactions — withdrawals, balance inquiries and balance transfers (one each per statement cycle) — with a Bank of America debit or ATM card at non-Bank of America ATMs in the U.S.unlimitedno-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.
Merrill Edge® online investing and trading
Merrill Edge
 up to 30/month$0 online stock and ETF trades on a Merrill Edge online investment account
Other fees may apply
Plus Merrill Edge MarketPro®
up to 100/month$0 online stock and ETF trades on a Merrill Edge online investment account
Other fees may apply
Plus Merrill Edge MarketPro®
Priority client servicePriority service through the Preferred Rewards Center (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs.Priority service through the Preferred Rewards Center (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs.Priority service through the Preferred Rewards Center (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs.
Mortgage: Reduced Origination Fee$200reduction in the origination fee on a new Bank of America purchase or refinance mortgage$400reduction in the origination fee on a new Bank of America purchase or refinance mortgage$600reduction in the origination fee on a new Bank of America purchase or refinance mortgage
Home equity discount0.125%interest rate discount on a new Bank of America home equity line of credit0.250%interest rate discount on a new Bank of America home equity line of credit0.375%interest rate discount on a new Bank of America home equity line of credit
Auto loan discount0.25%interest rate discount on a new Bank of America auto purchase or refinance loan0.35%interest rate discount on a new Bank of America auto purchase or refinance loan0.50%interest rate discount on a new Bank of America auto purchase or refinance loan
Additional checking & savings accountsNo monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of AmericaNo monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of AmericaNo monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of America
No-fee banking servicesNo fees on select services, including standard check orders, cashier's checks, incoming domestic wire transfers and more layer information on no-fee banking services for Gold tierNo fees on select services, including standard check orders, cashier's checks, incoming domestic wire transfers and more layer information on no-fee banking services for Platinum tierNo fees on select services, including standard check orders, cashier's checks, incoming domestic wire transfers and more layer information on no-fee banking services for Platinum Honors tier

There are 3 tiers in the Preferred Rewards program: Gold, Platinum and Platinum Honors. Once you enroll, your balances grow, so do your benefits.

Required balanceRewards Savings interest rate boosterCredit card rewards bonusNon-Bank of America ATM TransactionsMerrill Edge Merrill Edge® online investing and tradingPriority client serviceMortgage: Reduced Origination FeeHome equity discountAuto loan discountAdditional checking & savings accountsNo-fee banking services
Gold$20K to $50K 3-month average combined balance5%interest rate booster layer on a Rewards Savings Account25%rewards bonus on eligible Bank of America credit cards
Review card eligibility guidelines layer
  Priority service through the Preferred Rewards Center (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs.$200reduction in the origination fee on a new Bank of America purchase or refinance mortgage0.125%interest rate discount on a new Bank of America home equity line of credit0.25%interest rate discount on a new Bank of America auto purchase or refinance loanNo monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of AmericaNo fees on select services, including standard check orders, cashier's checks, incoming domestic wire transfers and more layer information on no-fee banking services for Gold tier
Platinum$50K to $100K3-month average combined balance10%interest rate booster layer on a Rewards Savings Account50%rewards bonus on eligible Bank of America credit cards
Review card eligibility guidelines layer
up to 12/yearno-fee ATM transactions — withdrawals, balance inquiries and balance transfers (one each per statement cycle) — with a Bank of America debit or ATM card at non-Bank of America ATMs in the U.S.up to 30/month$0 online stock and ETF trades on a Merrill Edge online investment account
Other fees may apply
Plus Merrill Edge MarketPro®
Priority service through the Preferred Rewards Center (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs.$400reduction in the origination fee on a new Bank of America purchase or refinance mortgage0.250%interest rate discount on a new Bank of America home equity line of credit0.35%interest rate discount on a new Bank of America auto purchase or refinance loanNo monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of AmericaNo fees on select services, including standard check orders, cashier's checks, incoming domestic wire transfers and more layer information on no-fee banking services for Platinum tier
Platinum Honors$100K+3-month average combined balance20%interest rate booster layer on a Rewards Savings Account75%rewards bonuson eligible Bank of America credit cards
Review card eligibility guidelines layer
unlimitedno-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 100/month$0 online stock and ETF tradeson a Merrill Edge online investment account
Other fees may apply
Plus Merrill Edge MarketPro®
Priority service through the Preferred Rewards Center (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs.$600reduction in the origination fee on a new Bank of America purchase or refinance mortgage0.375%interest rate discount on a new Bank of America home equity line of credit0.50%interest rate discount on a new Bank of America auto purchase or refinance loanNo monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of AmericaNo fees on select services, including standard check orders, cashier's checks, incoming domestic wire transfers and more layer information on no-fee banking services for Platinum Honors tier

Interest rate booster example

If the interest rate on a Rewards Savings account is 1.00%, a 5% rate booster would increase the interest rate to 1.05%

Rates shown are for illustration only. For current rates, view our Rewards Savings rates.

Interest rate booster example

If the interest rate on a Rewards Savings account is 1.00%, a 10% rate booster would increase the interest rate to 1.10%

Rates shown are for illustration only. For current rates, view our Rewards Savings rates.

Interest rate booster example

If the interest rate on a Rewards Savings account is 1.00%, a 20% rate booster would increase the interest rate to 1.20%

Rates shown are for illustration only. For current rates, view our Rewards Savings rates.

Additional no-fee services

Preferred Rewards Gold tier clients enjoy:
- No fees on 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.

Additional no-fee services

Preferred Rewards Platinum tier clients enjoy:
- No fees on ATM or debit card replacement including rush replacement, standard check orders, cashier's checks, Check Image Service, check copies, incoming domestic and international wire transfers, and a small safe deposit box
- 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.

Additional no-fee services

Preferred Rewards Platinum Honors tier clients enjoy:
- No fees on ATM or debit card replacement including rush replacement, standard check orders, cashier's checks, Check Image Service, check copies, incoming domestic and international wire transfers, and a small safe deposit box
- 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.

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 (including 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®
  • 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:

  • An eligible Bank of America® personal checking account
  • 3-month average combined balances of $20,000 or more in qualifying Bank of America® banking accounts and/or Merrill Edge® and Merrill Lynch® investment accounts.
Calculator icon

Calculate your Preferred Rewards potential

Use our Preferred Rewards Calculator to see the benefits you can earn

Get simple tips to help you reach the required balance layer

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:

  • An eligible Bank of America® personal checking account
  • 3-month average combined balances of $20,000 or more in qualifying Bank of America® banking accounts and/or Merrill Edge® and Merrill Lynch® investment accounts.
Calculator icon

Calculate your Preferred Rewards potential

Use our Preferred Rewards Calculator to see the benefits you can earn

Get simple tips to help you reach the required balance layer

To learn more or enroll today: