Bank of America Is Revamping Preferred Rewards — Here’s What’s Changing in 2026

Updated: January 14, 2026, 5:28pm CST

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Bank of America Introduces BofA Rewards With New Tier Names
Final Thoughts

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Bank of America is giving its long-running Preferred Rewards program a makeover.

Starting in late May 2026, the program will be rebranded and slightly reshuffled, with new tier names and updated eligibility ranges. While the biggest perks appear to stay intact for now, this is still a change worth paying attention to — especially if you rely on BofA’s card rewards boosts.

Here’s what we know so far and what it could mean for you.

Bank of America Introduces BofA Rewards With New Tier Names

On or around May 26, 2026, Bank of America Preferred Rewards will officially become BofA Rewards. Your tier status within the program will still be based on the amount of money you keep with the bank, but the tier names are changing, and the program is undergoing a minor reorganization.

Until now, Bank of America’s Preferred Rewards program has been built around familiar balance thresholds, with Gold starting around $20,000, Platinum kicking in at $50,000, Platinum Honors unlocking at $100,000, and Diamond reserved for those with $1 million or more in deposits.

Bank of America branch Salt Lake City — Image Credit: Ryan Smith

Beginning in May 2026, the program will switch to a new naming structure. The balance ranges themselves don’t change much, but the tiers will look like this:

Member: Less than $30,000
Preferred Plus: $30,000 to $99,999
Preferred Honors: $100,000 to $999,999
Premier: $1 million or more

If you’re already enrolled in the Bank of America’s Preferred Rewards program, the transition will happen automatically. Current Gold and Platinum members will transition to Preferred Plus, while Platinum Honors members will retain their current level of $100,000 and above under the Preferred Honors name. Diamond members will be upgraded to Premier.

Bank of America says benefits will change once the new program launches, but it hasn’t shared the details yet. That’s the big unknown for now.

The good news is that when the bank adjusted tiers in the past, it didn’t mess with the core rewards. Because of that, there’s hope the popular 75% credit card rewards boost for $100,000+ customers sticks around.

Hot Tip:

If you’re aiming to qualify, remember that only balances held for a full 3-month average count. Moving money in at the last minute won’t help — plan ahead if you want to land (or keep) Preferred Honors status.

Final Thoughts

This appears to be more of a rebrand and light cleanup than a full overhaul of Bank of America’s program — at least for now. The renamed tiers simplify things, and automatic enrollment for all checking customers lowers the entry barrier.

Still, any time a bank says “benefits will change,” it typically isn’t positive news. If you’re in the $100,000+ range, the hope is simple: keep the 75% rewards boost untouched. We’ll know more as Bank of America releases full benefit details closer to launch, and we will update this article to keep you informed.