Many Bank of America consumer credit cards are part of the Preferred Rewards program and are eligible to receive tier-based rewards bonuses. What Cards Are Part of the Preferred Rewards Program? For many the most appealing feature of Preferred Rewards is the ability to pump up their credit card rewards. The program rewards eligible customers with benefits including increased interest rates on deposit accounts, credit card rewards multipliers and reduced fees across several Bank of America and Merrill services. To qualify for the program, customers must keep more than $20,000 in combined deposits in Bank of America deposit accounts and/or Merrill investment accounts. What Is Bank of America Preferred Rewards?īank of America Preferred Rewards is a rewards program meant to encourage Bank of America and Merrill investment customers to increase the assets they hold at Bank of America and with Merrill. These are provided as guidelines only and approval is not guaranteed. This is just one scoring method and a credit card issuer may use another method when considering your application. You can take advantage of this offer when you apply now.Ĭredit Score ranges are based on FICO® credit scoring. This online only offer may not be available if you leave this page or if you visit a Bank of America financial center.Contactless Cards – The security of a chip card, with the convenience of a tap.A 3% fee applies to all balance transfers. After the intro APR offer ends, 18.24% – 28.24% Variable APR will apply. 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days.No annual fee and cash rewards don’t expire as long as your account remains open.That means you could earn 3.75%-5.25% cash back on purchases in your choice category. If you’re a Bank of America Preferred Rewards® member, you can earn 25%-75% more cash back on every purchase.Newly expanded categories based on Bank of America customer feedback! 3% cash back on Gas (to now include Electric Vehicle Charging (EVC) Stations) and Online Shopping (to now include Cable, Streaming, Internet and Phone Services).Earn 3% cash back in the category of your choice – now with expanded categories, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
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