The Bank of America Refer-a-Friend Program: How To Earn up to $500 Every Year

Bank of America has entered the refer-a-friend space. While the program is still new, it’s worth paying attention to if you hold one of the eligible cards.

Launched in the spring of 2026, the Bank of America refer-a-friend program lets cardholders earn $100 in cash-back each time a friend applies and is approved through their unique referral link. With a cap of 5 referrals per year, there’s potential to earn up to $500 annually just for spreading the word about a card you’re carrying.

Quick Overview

Bank of America launched its credit card refer-a-friend program in early 2026. Eligible cardholders earn $100 for each approved referral, up to 5 referrals per calendar year, for a maximum of $500 annually. The bonus posts to the referring cardholder’s account approximately 60 days after the referred person is approved, and the referred person still receives the standard welcome bonus offer on the card they applied for.

The program is targeted. Not all Bank of America cardholders have access, and there are no published criteria for who is selected. Eligible cards currently include the Bank of America^® Unlimited Cash Rewards Credit Card and Bank of America^® Customized Cash Rewards Credit Card, though the bank says more cards will be added throughout 2026.

What Is the Bank of America Refer-a-Friend Program?

Like referral programs from Chase and American Express, Bank of America’s program gives existing cardholders a unique link to share with friends and family. When someone clicks that link, applies for a card, and gets approved, the referring cardholder earns a cash bonus (Source: Bank of America).

The Bank of America bonus is $100 per approved referral. You can earn up to 5 referrals per calendar year, for a maximum of $500.

This program is also appealing to the person being referred. They still qualify for the standard welcome offer on whichever card they apply for, so both sides of the transaction can benefit.

Who Can Participate?

Presently, this is a targeted program. Not every Bank of America cardholder has access to it, and there is no published rule for who gets selected (Source: Bank of America).

The only way to know if you’re eligible is to log in to your account and check the referral page at bankofamerica.com or within the mobile app. If you have access, your personalized referral link will be waiting for you.

Bank of America Cards Eligible for Referral

So far, the program covers the following personal credit cards:

• Bank of America^® Unlimited Cash Rewards Credit Card
• Bank of America^® Customized Cash Rewards Credit Card
• Bank of America^® Travel Rewards Credit Card
• BankAmericard^® Credit Card

At this point, the program does not appear to include small-business cards, secured cards, or co-branded cards, such as those that earn Atmos Rewards points. Given how new the program is, the list may expand over time.

How To Find Your Referral Link [Step-by-Step]

If you have access to the program, the process is simple:

1. Log in to your Bank of America account.
2. Navigate to the refer-a-friend page.
3. Select the eligible card you want to refer.
4. Copy your unique referral link and share it via text, email, or social media.

Once your friend applies through the link and is approved, Bank of America will credit the $100 bonus to your account approximately 60 days after approval.

Current Bank of America Referral Bonuses

Unlike some programs that vary the bonus amount by card, Bank of America keeps it simple across the board. All eligible cards can earn the following:

• Earn $100 cash-back per approved referral
• Earn up to $500 per calendar year (5 successful referrals)

Why You Might Not Receive a Referral Bonus

There are several reasons a referral bonus might not come through:

• The program is targeted. Without access, you won’t be able to generate a referral link.
• Your friend doesn’t apply through your unique referral link.
• Your friend isn’t approved for the card.
• You’ve already reached the $500 annual cap.
• Your account is not in good standing at the time of the referral.

Are Referral Bonuses Taxable?

Yes. Cash bonuses from referral programs are generally considered taxable income by the IRS. Bank of America may issue a 1099-MISC for referral bonuses earned during the year, which must be included on your tax return (Source: IRS).

Ask your tax professional if you have questions about how this relates to your situation.

Final Thoughts

Bank of America’s refer-a-friend program is a solid addition from an issuer that hasn’t historically provided referral bonuses. The $100-per-referral structure is clean and easy to understand, with no varying numbers to consider from one card to the next.

The biggest limitation right now is access. Because the program is targeted and has no published selection criteria, some cardholders with eligible cards may simply not have it yet. If you do have access, though, it’s one of the easier ways to earn $500 cash-back in a calendar year.