Bank of America/Merrill Edge has announced (via notice on individual’s statements. H/t bogleheads) that it will make changes to the Preferred Rewards program on May 26, 2026.
- Current tiers:
- Gold – $20k-$49.99k
- Platinum – $50k-$99.99k
- Platinum Honors – $100k-$999.99k
- Diamond – $1m+
- New tiers:
It’s unclear if anything else will change but in 2021 two new tiers above $1m+ were added and no changes to the existing program were made. I’m hopeful that customers with $100,000+ will continue to enjoy the 75% card card boost. You can read full details of the current program here. Full notice below:
Important Information: On or about May 26, 2026, our 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. 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. Your current benefits will change following conversion to BofA Rewards. For BofA Rewards eligibility requirements and a summary of new benefits, please refer to: [http://www.bankofamerica.com/BofARewards](). Until Preferred Rewards becomes BofA Rewards, customers can only satisfy the balance requirement for Preferred Rewards enrollment through a sufficient three-month combined average daily balance in qualifying deposit and investment accounts. Customers who do not fulfill this requirement will be eligible to enroll in the Member tier of BofA Rewards upon program launch.
