Basically, the more assets you hold with Bank of America, the more rewards and discounts you earn. A 3% fee (min $10) applies to all balance transfers, Contactless Cards - The security of a chip card, with the convenience of a tap, 3.75% cash back in the spending category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings, and 2.5% cash back on purchases at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 4.5% cash back in the spending category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings, and 3% cash back on purchases at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 5.25% cash back in the spending category of your choice, and 3.5% cash back on purchases at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), No limit to the points you can earn and your points don't expire, Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill® accounts, or gift cards or purchases at the Bank of America Travel Center, 2.5 points for every dollar spent on travel and dining purchases, 1.25 points per dollar spent on other purchases, 3 points for every dollar spent on travel and dining purchases, 1.5 points per dollar spent on other purchases, 3.5 points for every dollar spent on travel and dining purchases, 2.625 points per dollar spent on other purchases, Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions, 0% Introductory APR for 12 billing cycles for purchases. Chase and Bank of America have an almost equal number of branch offices nationwide and a similar number of ATMs across the country. It is not the advertiser's responsibility to ensure all posts and/or questions are answered. We strive to provide you with information about products and services you might find interesting and useful. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. PART TWO: How Bank of America clients can access payments once they’ve been released by the IRS. After the intro APR ends, 14.99% - 22.99% Variable APR will apply. Bank of America is no better than Citibank when it comes to basic account fees. How can increasing your program balance help you get even more rewards? Get answers to the most popular FAQs and easily contact us through either a secure email address, a mailing address or our customer service phone numbers. Please review the Personal Schedule of Fees, also available at your local financial center. Just sign in to your Bank of America online account to enroll to begin receiving Preferred Rewards benefits. Once you’re enrolled, as your balances qualify you for the next level of rewards, your Preferred Rewards tier will be moved up automatically. If so, you'll automatically receive a tier upgrade. Many other banks also offer a similar program (Citigold from Citibank or Bank of America’s Preferred Rewards Platinum or Platinum Honors programs are a couple), so it can’t hurt to evaluate them before you choose which one to go with. Bank of America® Cash Rewards credit card, Bank of America® Travel Rewards credit card, Bank of America® Premium Rewards® credit card, Citi® Double Cash Card - 18 month BT offer, Blue Cash Preferred® Card from American Express, American Airlines AAdvantage MileUp℠ Card, Blue Cash Everyday® Card from American Express, $20,000 in combined balance of qualifying accounts, $50,000 in combined balance of qualifying accounts, $100,000 in combined balance of qualifying accounts, 1.875 points for every dollar spent on all purchases, 2.25 points for every dollar spent on all purchases, 2.625 points for every dollar spent on all purchases, 0% Introductory APR for 12 billing cycles for purchases, and for any balance transfers made in the first 60 days. There are three tiers in the Preferred Rewards program - Gold, Platinum and Platinum Honors. Your tier is based on your qualifying combined balances in your Bank of America banking and/or Merrill investment accounts. Get Started at Bank of America. After the intro APR offer ends, 13.99% - 23.99% Variable APR will apply. All rights reserved. If you haven’t met the balance requirement after three months, you'll be moved to a lower tier or lose your Preferred Rewards benefits. For more information about the Corporation's series of preferred stock, including certain voting rights, see the Corporation's Amended and Restated Certificate of Incorporation filed with the SEC. The qualifying balance is calculated based on your average daily balance for a three calendar month period. However, Bank of America is now spicing things up a bit by introducing a new points program called Preferred Rewards that targets high-value banking customers, and can boost your points-earning potential by up to 75%. You're continuing to another website. Refer to your Personal Schedule of Fees for details on accounts that qualify towards the combined balance calculation and receive program benefits. Certain benefits are also available without enrolling in Preferred Rewards if you satisfy balance and other requirements. As an enrolled Preferred Rewards member, you've met the program requirements — which include maintaining an eligible Bank of America ® checking account and a three-month combined average daily balance of at least $20,000. You're continuing to another website that Bank of America doesn't own or operate. We'll reinstate your Preferred Rewards status if you meet the requirements at a later date. Subscribe to our latest articles, news, and promotions! Enrolling in Preferred Rewards requires you to have an eligible Bank of America personal checking account and an average daily ba… If you prefer that we do not use this information, you may opt out of online behavioral advertising. Let's find out. © 2021 CardBenefit, Inc. All Rights Reserved. All you need to qualify is an eligible Bank of America personal checking account and a 3-month average combined balance of $20,000 in qualifying Bank of America deposit accounts and/or Merrill investment accounts. Depending on your eligible tier of Preferred Rewards, you can get a 25%, 50% to 75% rewards bonus on the baseline rewards. If you don’t have it, download our Mobile Banking App so you can monitor your account. Trust and fiduciary services are provided by Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, or U.S. Trust Company of Delaware. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America… Bank of America is celebrating five years of its industry-leading loyalty program, Preferred Rewards, which rewards members with perks and benefits across their entire banking relationship.This unique approach to rewards has helped generate record levels of client satisfaction and retention with members. (1) Each series of preferred stock was issued by Bank of America Corporation (the "Corporation"). Your tier is based on your qualifying combined balances in your Bank of America ® deposit and/or Merrill ® investment accounts. Preferred and Small Business provide access to Bank of America banking and Merrill investment solutions to U.S. banking and investment clients, as well as cash management, lending and investment solutions to entrepreneurs and small businesses. $50,000 in total assets qualifies for the Platinum tier, and $100,000 in total assets qualifies for the Platinum Honors tier of Preferred Rewards. Accounts on which you are an owner or co-owner, including. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Bank of America Online Privacy Notice and our Online Privacy FAQs. Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill. You're continuing to another website. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements. No need to worry if your balances dip temporarily, you'll keep your Preferred Rewards program status for at least a full year. Banking, mortgage and home equity products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. Bank of America offers a SafeBalance checking option that has no overdraft fees, but it comes with a monthly fee that can’t be waived unless you’re a … Merrill Lynch clients with a three-month combined average daily balance of at least $250,000 and an active, eligible Bank of America personal checking account and all Bank of America Private Bank clients are eligible for the Preferred Rewards for Wealth Management program. When you are a Bank of America Preferred Rewards client (waiver applies to first 4 checking and savings accounts) Or pay $8/month. The combined balance is calculated based on your average daily balance for a three calendar month period. [Interest/dividend payments on certain preferred issues may be deferred by the issuer for periods of 5 to 10 years, depending on the particular issue. After you enroll, you can track your program balance on your Preferred Rewards Summary in Online Banking or in the Mobile Banking app. Important notice. The average daily balance in James' Bank of America Advantage Banking Account was: = $60K Three-month combined average daily balance. The majority of $25 and $1,000 par preferred securities are “callable,” meaning that the issuer may retire the securities at specific prices and dates prior to maturity. Preferred Rewards is a tiered program offering a variety of benefits across many Bank of America products and services. Responses have not been reviewed, approved or otherwise endorsed by the advertiser. The most enticing feature is this: Up to a 75% bonus on all credit card rewards you earn. Eligibility to enroll is generally available three or more business days after the end of the calendar month in which you satisfy the requirements. We think it’s a reminder of why you should do your homework when you’re offered something extra for being loyal. So instead of earning 3 percent cash back from the choice category, Preferred Rewards customers can earn 3.75 to 5.25 percent back. James will be notified that he is now a Preferred Rewards Platinum tier member. When you are a Bank of America Preferred Rewards client (waiver applies to first 4 checking and savings accounts) Or pay $8/month. Although waivable with a $1,500 balance, a qualifying direct deposit of $250 or Preferred Rewards client status, the Advantage Plus Banking account charges $12 per month, at the time of writing. Enrollment is simple. We stand by our clients each and every day giving them the power to realize their personal … At Bank of America, we handle the finances of over 67 million client relationships every day, including helping them save, borrow and invest for today and for their future. Please speak with your Merrill Lynch financial advisor or Bank of America Private Bank advisor for more information. The end of the calendar month in which you are eligible to receive extra Rewards if after year. Information in accordance with account agreements clients extra benefits and Rewards requirements at a later date for details accounts! Please review the personal finance offers that appear on this page is by! App so you can move to a 75 % bonus on all credit card and qualify for Rewards! Provide product and service information in accordance with account agreements for Preferred Rewards benefits combined average daily in! 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