Bank of America Preferred Rewards Boost
As a no-annual-fee card, the Bank of America Travel Rewards card doesn’t offer much in the way of benefits.
But one benefit it does offer that can be quite lucrative to cardholders is the ability to boost your rewards rate through the Bank of America Preferred Rewards program.
If you’re not already familiar, the Bank of America Preferred Rewards program is the bank’s loyalty program that offers added rewards and benefits for those who hold a certain level of assets in their Bank of America deposit accounts and/or Merrill Edge and Merrill Lynch investment balances.
There are quite a few benefits you receive at each elite status tier, but for this post, we will be exclusively focusing on the credit card rewards boost you receive:
|Status Level||Assets Required||Rewards Bonus||Increased Earnings|
|Gold||$20,000+ in assets||25% rewards bonus||1.875x points per $1 spent|
|Platinum||$50,000+ in assets||50% rewards bonus||2.25x points per $1 spent|
|Platinum Honors and above||$100,000+ in assets||75% rewards bonus||2.625x per $1 spent|
The ability to earn up to 2.625x points per $1 on every purchase that you make is quite exceptional, and quite a bit higher than what you would earn with many other non-bonused cards.