Compare Bank of America Preferred Rewards Tiers

Preferred Rewards program details

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^® deposit and/or Merrill^® investment accounts. 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. In addition, your balances are reviewed monthly to see if you qualify for a higher tier. If so, you’ll automatically move to the next level of rewards.

Overview Go to Preferred Rewards overview FAQs Go to frequently asked questions about Preferred Rewards

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 combined average daily balance$20-$50K

Platinum $50K to < $100K
three-month combined average daily balance$50-100K

Platinum Honors $100K to < $1MM three-month combined average daily balance

Required three-month combined average daily balance

Savings interest rate booster

Gold 5%
interest rate booster layer on a Bank of America Advantage Savings account

Platinum 10%
interest rate booster layer on a Bank of America Advantage Savings account

Platinum Honors 20%
interest rate booster layer on a Bank of America Advantage 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^® Guided Investing

Gold 0.05%
annual program fee discount layer
♦ Other fees may apply

Platinum 0.10%
annual program fee discount layer
♦ Other fees may apply

Platinum Honors 0.15%
annual program fee discount layer
♦ Other fees may apply

Priority member service

Gold Priority service (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs.

Platinum Priority service (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs.

Platinum Honors Priority service (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

Foreign currency
exchange rate discount

Gold 1% discount
for mobile and online orders only,
includes free standard shipping

Platinum 1.5% discount
for mobile and online orders only,
includes free standard shipping

Platinum Honors 2% discount
for mobile and online orders only,
includes free standard shipping

Calculate your Preferred Rewards potential

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

Calculate your
Preferred Rewards
potential

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

Enroll in Preferred Rewards

There is no fee to join or participate in the program.
To become a Preferred Rewards member you will need:

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^® investment accounts.

Once you’ve met these requirements, you must then take action to enroll.

Enroll in Preferred Rewards

There is no fee to join or participate in the program.
To become a Preferred Rewards member you will need:

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^® investment accounts.

Once you’ve met these requirements, you must then take action to enroll.

♦ Other fees may apply. Sales of ETFs 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 and mutual funds. To learn more about Merrill pricing, visit merrilledge.com/pricing

Connect with us

888.888.7937

Mon-Fri 8 a.m. – 10 p.m. ET

- a program that rewards you

for the everyday banking that you do

when you have an eligible checking account

and a three-month combined average daily balance

of $20,000 or more in your qualifying

Bank of America deposit and/or

Merrill Edge investment accounts.

The great news is that

$20,000 can come from almost anywhere.

It can be transferred from existing accounts

at other banks or investment firms,

from an old 401(k), an IRA, a vacation fund,

or even a rainy day fund.

And a specialist can help with easily transferring

assets by providing assistance at our

financial centers or over the phone.

Of course, the $20,000 can also come

from accounts you already have including

your Merrill Edge investment accounts

and your eligible Bank of America

checking and savings accounts.

So take a look at them all.

Because the average American household

has five bank accounts...

And almost any combination works.

And when you enroll in Preferred Rewards

You can help your money work harder

Allowing you everyday banking benefits

and rewards you'll actually use

Like credit card rewards bonuses

on eligible credit cards,

select no fee banking services,

extra interest

on Rewards Money Market Savings accounts,

and more.

To learn how you could qualify,

talk to a Bank of America employee

To schedule an appointment,

visit bankofamerica.com/schedule

Get used to getting more

with Preferred Rewards from Bank of America.

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View transcript

Transcript

Your money works hardest when it works together.

That's why we created Preferred Rewards

- a program that rewards you

for the everyday banking that you do

when you have an eligible checking account

and a three-month combined average daily balance

of $20,000 or more in your qualifying

Bank of America deposit and/or

Merrill Edge investment accounts.

The great news is that

$20,000 can come from almost anywhere.

It can be transferred from existing accounts

at other banks or investment firms,

from an old 401(k), an IRA, a vacation fund,

or even a rainy day fund.

And a specialist can help with easily transferring

assets by providing assistance at our

financial centers or over the phone.

Of course, the $20,000 can also come

from accounts you already have including

your Merrill Edge investment accounts

and your eligible Bank of America

checking and savings accounts.

So take a look at them all.

Because the average American household

has five bank accounts...

And almost any combination works.

And when you enroll in Preferred Rewards

You can help your money work harder

Allowing you everyday banking benefits

and rewards you'll actually use

Like credit card rewards bonuses

on eligible credit cards,

select no fee banking services,

extra interest

on Rewards Money Market Savings accounts,

and more.

To learn how you could qualify,

talk to a Bank of America employee

To schedule an appointment,

visit bankofamerica.com/schedule

Get used to getting more

with Preferred Rewards from Bank of America.

Preferred Rewards program details

Preferred Rewards program details

Enroll in Preferred Rewards

Enroll in Preferred Rewards

Connect with us

888.888.7937

888.888.7937

Schedule an appointment

Learn more about Preferred Rewards for Business

Transcript

Card eligibility guidelines

Interest rate booster example

Interest rate booster example

Interest rate booster example

Annual program fee discount

Annual program fee discount

Annual program fee discount

Additional no-fee services

Additional no-fee services

Additional no-fee services

Card eligibility guidelines