The Bank of America Preferred Rewards program is designed to attract casual Bank of America (BofA) clients and turn them into loyal customers. Enjoy the additional credit card rewards that Preferred Rewards eligible credit cards provide. Though it’s most worth it when you’re in the Platinum Honors tier, it could still be worth considering when at the lower tiers too.You can only use these points for cash-back, travel purchases, and gift cards, but it’s a solid 1 cent per point for cash-back.For more cash-back opti… 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. Get started with as little as $5,000 for Merrill Guided Investing or $20,000 for Merrill Guided Investing with an advisor. Preferred Rewards is our way of saying we value you. 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. Bank of America, N.A. The combined balance is calculated based on your average daily balance for a three calendar month period. ♦ Other fees may apply. Eligible credit cards earn a 25%, 50% or 75% rewards bonus. Be sure to sign in when you check for offers to see what’s already waiting for you. But let’s set aside the Preferred Rewards benefits like the money market account interest boosters and no ATM fees, and just focus on the credit card rewards. This is not a commitment to lend. Bonus rewards from the Bank of America Preferred Rewards program will be nice, but you should strive to pick a card that makes the most sense for your normal spending patterns, too. All in all, using Bank of America Preferred Rewards is best for those who desire cash-back.You can accelerate your earnings tremendously by combining your credit card and banking providers. The Bank of America Travel Rewards Credit Card is the main “travel rewards” credit card branded by Bank of America. 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. We strive to provide you with information about products and services you might find interesting and useful. One of the main benefits being a high net worth individual with Bank of America is that you can earn preferred bonuses on credit card rewards. Once you have a total of … The Bank of America Cash Back student card, for instance, would rack up higher-value rewards on everyday living expenses, and it also qualifies for Preferred Rewards. The Bank of America® Travel Rewards credit card is a very good option for people with excellent credit who want to reduce the cost of travel without paying an annual fee. 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 with active charging privileges. While the numbers sound impressive, you should consider that Bank of America savings accounts interest rates are nearly at 0%, and the increase in interest from the Preferred Rewards program is satisfactory at best. 1 To enroll in the Preferred Rewards for Wealth Management program you must have an active, eligible Bank of America® personal checking account and maintain a qualifying three-month combined average daily balance of at least $250,000 in your combined qualifying Bank of America deposit accounts (such as checking, savings, certificate of deposit) and/or your … This interest rate is for illustration only. We're sorry, this page is temporarily unavailable. Bank of America Travel Rewards Card Review Summary. By consolidating your checking, savings, investments and retirement banking into BofA and Merrill accounts, you'll get access to a variety of banking perks. Before you leave, please take a moment to answer these 4 simple questions. This site may be compensated through a credit card issuer partnership. Member FDIC. We’ve compiled some important considerations to help you pick the best credit card for you. If you’re looking to improve your credit, check out some of our helpful tips. If you are a customer, definitely try to sign up for this rewards program to get boosted credit card rewards, waived banking fees, free ATM transactions and more. Tell us who you are and what you like, to see what offers are available to you. The Bank of America® Premium Rewards® credit card earns unlimited 2 points per dollar spend on travel and dining and 1.5 points per dollar on … The Bank of America credit card offers an impressive introductory APR of 0% for the first 12 months of the card being opened. Receive 50,000 online bonus points - a $500 value - after you make at least $3,000 in purchases in the first 90 days of account openingEarn unlimited 2 points for every … Use the Up and Down arrow keys to adjust the volume. By submitting your feedback, you agree Bank of America, its affiliates and any authorized parties may use, commercialize or reproduce the feedback without restriction or any compensation to you. Preferred Rewards is a tiered program offering a variety of benefits across many Bank of America products and services. Use a Bank of America or Merrill Lynch account: If you do your banking with Bank of America or invest with Merrill Lynch, you can be a part of Bank of America’s Preferred Rewards program. $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. Already a Bank of America customer? These ads are based on your specific account relationships with us. © 2020 Bank of America Corporation. Choosing a credit card can be overwhelming. Like the Chase Sapphire Preferred® Card (a staple in the travel community), the Bank of America Travel card defines “travel” broadly, meaning you can redeem your points on flights, hotels, vacation packages, cruises, rental cars or baggage fees. The Bank of America Premium Rewards Card is a solid alternative to transferrable points earning cards. And as your qualifying balances grow, so do your benefits. If you’re ready to go the distance to earn rewards with your Bank of America® Travel Rewards Visa® credit card, you can also join the Preferred Rewards Program. The qualifying balance is calculated based on your average daily balance for a three calendar month period. Credit and collateral are subject to approval. Use the Bank of America Merrill Lynch Visa Reward Card anywhere Visa debit cards are accepted Spending is limited to the amount of money placed on the Reward Card The transaction amount must be less than or equal to the amount remaining on the Reward Card, otherwise you will need to pay the difference before using the Reward Card There are costs associated with owning ETFs and mutual funds. Balance transfers also receive a 0% APR for the first 12 months. Bank of America Preferred Rewards. If so, you'll automatically move to the next level of rewards. It will only take a minute and won’t impact your credit score. The bank’s secured cards, business credit cards and nonreward cards — such as the BankAmericard® Credit Card — don’t qualify for Preferred Rewards. You may also request a check or have your cash rewards deposited into a qualifying Merrill 529 or Cash Management account. 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. Your tier is based on your qualifying combined balances in your Bank of America® deposit and/or Merrill® investment accounts. The card offers a $100 airline credit that you can use for incidental expenses, an application fee credit for TSA Pre-check or Global Entry and a solid points program that rewards a variety of spenders. Basically, the more assets you hold with Bank of America, the more rewards and discounts you earn. If you prefer that we do not use this information, you may opt out of online behavioral advertising. This is not a commitment to lend. As a member, you can enjoy many exclusive benefits, all designed around the ways you save, spend, and borrow with Bank of America and invest with Merrill®. See less product information. Plus, as a Preferred Rewards member, you enjoy real benefits and rewards on your everyday Bank of America® banking and Merrill investment accounts. 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. Displayed benefits are for the following amount: three-month combined average daily balance, on a Bank of America Advantage Savings account, No-fee transactions at non-Bank of America, Go to frequently asked questions about Preferred Rewards, More articles about the benefits of Preferred Rewards, Please access your link list to display the content for the three different reward tiers, Sign in to Online Banking to see if you qualify. Cards not eligible for the rewards bonus: To enroll in the Preferred Rewards program you must have an active, eligible Bank of America personal checking account and maintain a qualifying balance of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, or $100,000 for the Platinum Honors tier in your combined qualifying Bank of America deposit accounts (such as checking, savings, certificate of deposit) and/or your Merrill® investment accounts (such as Cash Management Accounts, 529 Plans). This is especially true if you have over $50,000 in cash and investments in a Bank of America (BOFA) account. Depending on your account balances, you can get a reward point bonus as large as 75%. The program is open to any cardholder with a qualifying personal checking account with Bank of America ®. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements. This earning bonus is what makes this an exciting credit card option for the most loyal Bank of America members. 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 with active charging privileges. With Merrill Edge, sales are subject to a transaction fee of $0.01 to $0.03 per $1,000 of principal, and some fees apply to owning ETFs. Savings interest rate boost.Preferred Rewards members receive a 5% to 20% increase on their savings account interest rate. To protect your identity, please do not submit personal or account information. Programs, rates, terms and conditions are subject to change without notice. If you opt out, though, you may still receive generic advertising. ♦ Link to Other Fees May ApplyOther fees may apply. As long as you have $100,000 in Bank of America banking and Merrill Edge investment accounts, you'll qualify for the respective bonuses. Become a Preferred Rewards Member. Member FDIC. Better credit habits can lead to a better credit score. An interest rate booster on a Bank of America Advantage Savings account. By following a few simple steps, you can help ensure you’re headed in the right direction when it comes to managing your credit card debt. Connect one on one with a credit card specialist, Low Intro APR Balance Transfer Credit Cards, Interstitial Link: language-change | Placeholder - hidden, Credit Cards with No Foreign Transaction Fees. with Preferred Rewards from Bank of America. Want to get an even better rate? 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. Bank of America, N.A. All rights reserved. There are three tiers in the Preferred Rewards program - Gold, Platinum and Platinum Honors. Note that we cannot reply to questions asked via this form. Equal Housing Lender .Credit and collateral are subject to approval. For a card that costs just $95 a year to own, the Bank of America® Premium Rewards® credit card is unusually generous – especially if you’re a Bank of America customer. when you have an eligible checking account, and a three-month combined average daily balance, It can be transferred from existing accounts. If your credit card receives the 10% customer bonus, the Preferred Rewards bonus will replace the 10% customer bonus. If you prefer that we do not use this information, you may opt out of online behavioral advertising. Once you are a Preferred Rewards member, you'll keep your program benefits for at least a full year, so no need to worry if your balances dip temporarily. Benefits become effective within 30 days of your enrollment, or for new accounts within 30 days of account opening, unless we indicate otherwise. © 2020 Bank of America Corporation. Certain benefits are also available without enrolling in Preferred Rewards if you satisfy balance and other requirements. The card's a potentially unequaled choice for high-worth individuals who hold significant funds in Bank of America or Merrill accounts and so qualify for their Preferred Rewards program. The hook for this card is that Bank of America allows you to choose one spending category in which you’ll receive 3% cash back, and you can change that category as often as once a month. Bank of America Preferred Rewards: A 75% bonus but watch the rates. Equal Housing Lender new window. Since you aren’t limited by any number of travel partners, your rewards hold the same value no matter what airline you fly on … Bank of America Preferred Rewards members can earn up to 75% more points, so you effectively earn 2.625 points per $1 spent. Visit bankofamerica.com/savings for current products and rates. 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. Bank of America cash rewards (and related Preferred Rewards program bonuses) can be applied as statement credits or deposited directly into Bank of America checking and/or savings accounts. Programs, rates, terms and conditions are subject to change without notice. That means a purchase that earns 100 base points will actually earn 125, 150 or 175 and a purchase that earns $1.00 cash rewards will actually earn $1.25, $1.50 or $1.75 based on your tier when the purchase posts to your account. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. There is no fee to join or participate in the program.To become a Preferred Rewards member you will need: Sign in to Online Banking to see if you qualify. from an old 401(k), an IRA, a vacation fund, And a specialist can help with easily transferring. MLPF&S is a registered broker-dealer, Member SIPC and a wholly owned subsidiary of BofA Corp. Merrill Lynch makes available products and services offered by MLPF&S and other subsidiaries of BofA Corporation. Preferred Rewards makes your credit card even better. Please review the Personal Schedule of Fees, also available at your local financial center. The Bank of America Cash Rewards Credit Card is a cash back credit card that does not charge an annual fee. Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S” or “Merrill”) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (BofA Corp). on Rewards Money Market Savings accounts. Associated fees. 5. Merrill Lynch® clients with an active, eligible Bank of America® personal checking account and a three-month combined average daily balance of at least $20,000 can enroll in Preferred Rewards. Please contact us directly if you have any account or service related issues. Learn more about Preferred Rewards eligible credit cards today. An interest rate discount on a new home equity line of credit, based upon your eligible balances or tier at time of application. If you're not a Preferred Rewards member, your effective rewards rates on the Bank of America® Premium Rewards® credit card are the standard 2% for travel/dining and 1.5% for everything else. Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. As a Preferred Rewards member, 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. In this review, I’ll cover the card features but also focus on a lesser-known opportunity – if you’re a Preferred Rewards … 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. Get advice and guidance to help you plan for your future with an online experience built around you, professionally managed portfolios and the option to work one-on-one with an advisor. Once you have a total of $20,000 in assets between qualifying Bank of America and Merrill investment accounts, you qualify for Gold Preferred Rewards benefits. To learn more about Merrill pricing, visit merrilledge.com/pricing. For example, for credit cards that earn points or cash rewards, your rewards bonus will be awarded on every purchase. One or more of the cards you chose to compare are not serviced in English. Helping our customers meet their financial needs is important to us. The Bank of America® Premium Rewards® credit card and the Chase Sapphire Preferred® Card are two of the best rewards credit cards with annual fees at the $95 level. For example, if the interest rate on a Bank of America Advantage 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%. Preferred Rewards/Preferred Rewards —The period of time between —The additional —A Bank of America — —Purchases earn Bonus —A 10% bonus added —A Bank of America —Joint owner of the — —First-named —The Bank of America —Refers to the terms and —(1) An open —A Primary —The Program website at When you enroll in the Preferred Rewards program, you can get a 25% — 75% rewards bonus on all eligible Bank of America® credit cards. Equal Housing Lender new window. See more product information, As an enrolled Preferred Rewards client, you can get a 25% or more rewards bonus on an eligible Bank of America® credit card. In addition, your balances are reviewed monthly to see if you qualify for a higher tier. Please speak with your Merrill Lynch financial advisor or Bank of America Private Bank advisor for more information. We strive to provide you with information about products and services you might find interesting and useful. Get the most out of your credit card. Bank of America Premium Rewards: Earn 2 points per $1 on all travel and dining and 1.5 points per $1 on all remaining purchases plus Bank of America Preferred Rewards bonus If your credit card receives the 10% customer bonus, the Preferred Rewards bonus will replace the 10% customer … Bank of America Preferred Rewards is an overlooked relationship rewards program that even some Bank of America customers don’t know about. After the introductory APR, the card has an APR of 13.99% to 23.99% which is based on your creditworthiness. Find out how you can take advantage of all the opportunities that may be available to you as a cardholder. Enjoy fee waivers on everyday services for Bank of America personal checking and savings accounts: Platinum and Platinum Honors tier members also enjoy: Calculate your Preferred Rewards potential, Use our Preferred Rewards Calculator to see the benefits you can earn. For details on employee qualification requirements, please visit the Employee Financial Services intranet site. Your responses will help us improve the Bank of America digital experience for all our customers. Understanding Preferred Rewards requirements, Increasing Preferred Rewards with credit cards, 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, Learn more about Preferred Rewards for Business, 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, stop payments and incoming domestic wire transfers, Overdraft Protection transfer fees waived from your linked savings accounts, secondary eligible checking accounts or from a Home Equity Line of Credit, No fees for incoming international wire transfers and a small safe deposit box, An active, eligible Bank of America checking account, A three-month combined average daily balance of $20,000 or more in qualifying Bank of America deposit accounts and/or Merrill, Are Not Insured by Any Federal Government Agency, Are Not a Condition to Any Banking Service or Activity. 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