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Preferred Rewards

Preferred Rewards program details

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.

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.

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

Gold
Platinum
Platinum Honors Platinum honors Platinum honors
Required balance
Gold $20K to < $50K
three-month average combined balance
$20-$50K
Platinum $50K to < $100K
three-month average combined balance
$50-100K
Platinum Honors $100K+ three-month average combined balance
Required 3-month average combined balance
Rewards Savings interest rate booster
Gold 5%
interest rate booster layer on a Rewards Savings Account
Platinum 10%
interest rate booster layer on a Rewards Savings Account
Platinum Honors 20%
interest rate booster layer on a Rewards Savings Account
Credit card rewards bonus
Gold 25%
rewards bonus on eligible Bank of America credit cards
Review card eligibility guidelines layer
Platinum 50%
rewards bonus on eligible Bank of America credit cards
Review card eligibility guidelines layer
Platinum Honors 75%
rewards bonus on eligible Bank of America credit cards
Review card eligibility guidelines layer
Non-Bank of America ATM Transactions
Gold
Platinum up to 12/year
no-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.
Platinum Honors unlimited
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.
Merrill Edge® online investing and trading
Gold
Platinum 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
Platinum Honors 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 service
Gold Priority service through the Preferred Rewards Center (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs.
Platinum Priority service through the Preferred Rewards Center (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs.
Platinum Honors 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
Gold $200
reduction in the origination fee on a new Bank of America purchase or refinance mortgage
Platinum $400
reduction in the origination fee on a new Bank of America purchase or refinance mortgage
Platinum Honors $600
reduction in the origination fee on a new Bank of America purchase or refinance mortgage
Home equity discount
Gold 0.125%
interest rate discount on a new Bank of America home equity line of credit
Platinum 0.250%
interest rate discount on a new Bank of America home equity line of credit
Platinum Honors 0.375%
interest rate discount on a new Bank of America home equity line of credit
Auto loan discount
Gold 0.25%
interest rate discount on a new Bank of America auto purchase or refinance loan
Platinum 0.35%
interest rate discount on a new Bank of America auto purchase or refinance loan
Platinum Honors 0.50%
interest rate discount on a new Bank of America auto purchase or refinance loan
Additional checking & savings accounts
Gold No monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of America
Platinum No monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of America
Platinum Honors No monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of America
No-fee banking services
Gold No 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 No 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 No 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. If your credit card receives the 10% customer bonus, the Preferred Rewards bonus will replace the 10% customer bonus.

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® American Express® and Private Banking and Investment Group Octave® American Express®)
  • U.S. Trust® Octave® American Express®
  • AAA® Gas Rebate
  • Air France KLM World Elite Mastercard®
  • 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.

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. If your credit card receives the 10% customer bonus, the Preferred Rewards bonus will replace the 10% customer bonus.

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® American Express® and Private Banking and Investment Group Octave® American Express®)
  • U.S. Trust® Octave® American Express®
  • AAA® Gas Rebate
  • Air France KLM World Elite Mastercard®
  • 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:

Calculator icon

Calculate your Preferred Rewards potential

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

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)
Want to earn rewards on your Bank of America small business accounts?

Enroll in Preferred Rewards

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

Calculator icon

Calculate your Preferred Rewards potential

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

Want to earn rewards on your Bank of America small business accounts?

Learn more about Relationship Rewards

To learn more or enroll today:

Sign in to Online Banking to see if you qualify.

♦ Other fees may apply. Sell trades are subject to a transaction fee of between $0.01 and $0.03 per $1,000 of principal. There are costs associated with owning ETFs. To learn more about Merrill Edge pricing, visit merrilledge.com/pricing