New BofA Rewards Program
On or about May 26, 2026, the Bank of America Preferred Rewards program will become BofA Rewards™. All customers with an open, qualifying personal checking account will be eligible for enrollment in BofA Rewards.
The biggest change here is the top tier with now requires an average daily balance of $1 million compared to $100,000 in the old program.
BofA Rewards will feature the following tiers based on your three-month combined average daily balance in qualifying deposit and investment assets:
- Member tier, less than $30,000;
- Preferred Plus tier, $30,000 to $100,000;
- Preferred Honors tier, $100,000 to $1,000,000; and
- Premier tier, $1,000,000 or more.
If you are enrolled in the Preferred Rewards program on the transition date, your enrollment will be automatically changed to the new BofA Rewards program:
- current Gold and Platinum tier members will be changed to the Preferred Plus tier;
- current Platinum Honors members will be changed to the Preferred Honors tier;
- current Diamond Honors members will be changed to the Premier tier.
Certain Bank of America credit cards will continue to receive a BofA Rewards™ bonus, similar to the bonus they currently receive through the Preferred Rewards program. Enrolled BofA Rewards members with eligible Bank of America® credit cards can receive a BofA Rewards bonus of 10% for the Member tier, 25% for the Preferred Plus tier, 50% for the Preferred Honors tier, or 75% for the Premier tier. You can see more details here.
Bank of America Preferred Rewards for Business program seems unchanged for now.
