topic Re: BoA Preffered Rewards Changes ahead estimated 5/26/26 in Credit Cards

BoA Preffered Rewards Changes ahead estimated 5/26/26

swankytiger — Sun, 18 Jan 2026 00:18:01 GMT

From a post on Bogleheads: A user got this from Merrill after transferring funds in for a bonus.

I dont see how this doesnt change the 75% tier to $1m+. Unless they also add direct deposit or required cash in a checking account.

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

ElvisCaprice — Sun, 18 Jan 2026 00:42:15 GMT

@swankytiger wrote:
From a post on Bogleheads: A user got this from Merrill after transferring funds in for a bonus.

I dont see how this doesnt change the 75% tier to $1m+. Unless they also add direct deposit or required cash in a checking account.

Could also mean that just to become a member you get the 25% tier and thus as before, the 100k plus tier is 75%, as before. I wouldn't get all worked up about it, till/if it happens. Till then I can rest assured that BofA has a long history with this program and more often than not makes it stronger over weaker.

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

Vinjints — Sun, 18 Jan 2026 00:49:40 GMT

Interesting. I was eyeing jumping on this bandwagon possibly around that time. Looking forward to seeing how this plays out.

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

swankytiger — Sun, 18 Jan 2026 01:15:32 GMT

@ElvisCaprice wrote:
@swankytiger wrote:
From a post on Bogleheads: A user got this from Merrill after transferring funds in for a bonus.

I dont see how this doesnt change the 75% tier to $1m+. Unless they also add direct deposit or required cash in a checking account.
Could also mean that just to become a member you get the 25% tier and thus as before, the 100k plus tier is 75%, as before. I wouldn't get all worked up about it, till/if it happens. Till then I can rest assured that BofA has a long history with this program and more often than not makes it stronger over weaker.

True but it does make one want to hold off till we see what happens, I was maybe gonna pick up a PRE soon before that but Im gonna just hold off for now.

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

Trikoret — Sun, 18 Jan 2026 19:18:37 GMT

I'm sure someone will leak more info before the date. Let's just hope BofA doesn't nerf it. Worse case it'll be 2.25% for me. I'm going to keep USBAR for another year since my annual fee hit. I was going to PC USBAR but after seeing BofA rewards news, I decided to wait for another year.

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

swankytiger — Sun, 18 Jan 2026 20:11:41 GMT

@Trikoret wrote:
I'm sure someone will leak more info before the date. Let's just hope BofA doesn't nerf it. Worse case it'll be 2.25% for me. I'm going to keep USBAR for another year since my annual fee hit. I was going to PC USBAR but after seeing BofA rewards news, I decided to wait for another year.

How many people will keep 100k with boa/merrill for 0.25% more than they can get for no relationship? My holdings will 100% go back to Schwab if it happens.

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

unsungivy — Mon, 19 Jan 2026 15:32:50 GMT

@swankytiger wrote:
@Trikoret wrote:
I'm sure someone will leak more info before the date. Let's just hope BofA doesn't nerf it. Worse case it'll be 2.25% for me. I'm going to keep USBAR for another year since my annual fee hit. I was going to PC USBAR but after seeing BofA rewards news, I decided to wait for another year.
How many people will keep 100k with boa/merrill for 0.25% more than they can get for no relationship? My holdings will 100% go back to Schwab if it happens.

Are you referring to the interest rate on a savings account? If so, look into the Merrill side. It's not well known or advertised, but you can do "Preferred Deposit" on the Merrill side which amounts to a HYSA... but you have to do all 100k minimum at once to open it. After that you can take money back out (or add), but if you zero it out you need to do 100k all at once again to open a new one.

I have 50k in Preferred Deposit and I skim the interest back out monthly, and an initial 50k in stocks (higher now).

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

swankytiger — Mon, 19 Jan 2026 17:41:00 GMT

@unsungivy wrote:
@swankytiger wrote:
@Trikoret wrote:
I'm sure someone will leak more info before the date. Let's just hope BofA doesn't nerf it. Worse case it'll be 2.25% for me. I'm going to keep USBAR for another year since my annual fee hit. I was going to PC USBAR but after seeing BofA rewards news, I decided to wait for another year.
How many people will keep 100k with boa/merrill for 0.25% more than they can get for no relationship? My holdings will 100% go back to Schwab if it happens.
Are you referring to the interest rate on a savings account? If so, look into the Merrill side. It's not well known or advertised, but you can do "Preferred Deposit" on the Merrill side which amounts to a HYSA... but you have to do all 100k minimum at once to open it. After that you can take money back out (or add), but if you zero it out you need to do 100k all at once again to open a new one.

I have 50k in Preferred Deposit and I skim the interest back out monthly, and an initial 50k in stocks (higher now).

No im talking about the possible drop from 2.625% flat to 2.25% cash back at the $100k level, you can throw a rock and find a 2% flat cash back card now days. And my holdings are a Roth IRA and a CMA account(which i hold SGOV in). If we only get 2.25% flat cash back for the $100k level, I am pulling everything from Merrill and sending it back to Schwab where my active holdings are and I like the interface and can actually invest in things I want too and not what Merrill thinks I should.

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

swankytiger — Fri, 06 Feb 2026 13:38:31 GMT

from an article in bloomberg https://finance.yahoo.com/news/bofa-reworks-credit-cards-fuel-114000513.html?guccounter=1

"This month, the lender plans to unveil new incentives for cardholders with higher account balances. “While we have a high penetration, there is still the opportunity to deepen and make our products more attractive to clients,” said Mary Hines Droesch, head of consumer and small-business products and analytics. “We’re very successful with cash back, but we could do even more.”"

The rest is just a nothing burger with a slight fluff piece on AI.

and another one https://www.bankingdive.com/news/bank-of-america-credit-card-growth-bofa-cobrand-fifa/811495/

"As of November, about 71% of the bank’s checking clients had a credit card with BofA. The lender aims to push that to 80% in the medium term"

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

Follower — Fri, 06 Feb 2026 18:52:39 GMT

@swankytiger wrote:

and another one https://www.bankingdive.com/news/bank-of-america-credit-card-growth-bofa-cobrand-fifa/811495/
"As of November, about 71% of the bank’s checking clients had a credit card with BofA. The lender aims to push that to 80% in the medium term"

The article certainly seems to imply the opposite of nerfing the rewards program. We'll find out soon enough.

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

RobertS2 — Fri, 06 Feb 2026 22:21:09 GMT

@Vinjints wrote:
Interesting. I was eyeing jumping on this bandwagon possibly around that time. Looking forward to seeing how this plays out.

Same boat. All these program changes are getting annoying.

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

swankytiger — Mon, 09 Feb 2026 02:39:41 GMT

based on the leaked new tiers, i can also assume based on comments they might make a minimum balance in a checking account required.

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

swankytiger — Wed, 18 Feb 2026 13:52:28 GMT

And the rumors are true, the 75% tier got moved up to $1 million, Im out.

https://info.bankofamerica.com/en/bofa-rewards

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

Vinjints — Wed, 18 Feb 2026 14:23:51 GMT

So on the positive, we don't have to wait until May for the changes. For 100k minimum, is a 4.5% CCR really deemed not worth it at this point? I doubt I'd go out of my way for the 2.25% UCR.

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

odd_dog — Wed, 18 Feb 2026 14:35:52 GMT

I enjoy the microcosm perspective on this forum....in the larger scheme of things this is no big deal.. for instance I did not go to BoA for rewards, my portfolio is managed by Merrill, not edge, Managed, so to have PERKS of ANY KIND at BoA because of Merrill is a PLUS...do I care I lost a percentage or two on CC rewards? Nope it was a gift like the freebies with all BoA credit cards and accounts and discounts for being a Merrill client....Actually I am kind of happy as this will chase away the "flavor of the month" people that over FLOOD a good thing and RUIN it for the "rest of us" STAY AWAY!!! LOL I am sorry though for those that chase percents and rewards and are disappointed, I know US Bank is pretty good at frustrating a lot of you also.....but it is a game so play it like one!!

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

Hansolojr — Wed, 18 Feb 2026 15:24:24 GMT

I will stay too. Assuming no changes to banking features like free ATMs/cashier checks/etc., the BofA-Merrill combo still beats Schwab-Amex and Fidelity-USBank for my needs when looking at things holistically (checking + cards + savings.)

The program lasted >12yrs offering 5.25% on broad categories...was overdue for a nerf. (How long was the Smartly 4% good for - 3 months? ) Yes, people can get unbucketed 5% via Ink Cash with fee-free debit cards at Staples but that comes with risks. 4.5% is still competitive for straightforward cash back, especially considering the cards are available nationwide.

@odd_dog wrote:
I enjoy the microcosm perspective on this forum....in the larger scheme of things this is no big deal.. for instance I did not go to BoA for rewards, my portfolio is managed by Merrill, not edge, Managed, so to have PERKS of ANY KIND at BoA because of Merrill is a PLUS...do I care I lost a percentage or two on CC rewards? Nope it was a gift like the freebies with all BoA credit cards and accounts and discounts for being a Merrill client....Actually I am kind of happy as this will chase away the "flavor of the month" people that over FLOOD a good thing and RUIN it for the "rest of us" STAY AWAY!!! LOL I am sorry though for those that chase percents and rewards and are disappointed, I know US Bank is pretty good at frustrating a lot of you also.....but it is a game so play it like one!!

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

unsungivy — Wed, 18 Feb 2026 15:56:28 GMT

Still worth it. Especially with how broad some of those categories remain. End effect will just mean that some of my other cards get used a bit more.

I'm more displeased with the changes they made to the activatable deals, but it's still nice that they are all in a pool and apply to all your cards equally, and you don't have to figure out WHICH card has a certain deal.

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

Namaste7 — Thu, 19 Feb 2026 02:21:13 GMT

@swankytiger wrote:
And the rumors are true, the 75% tier got moved up to $1 million, Im out.

https://info.bankofamerica.com/en/bofa-rewards

😞 I waited too late to pick up the UCR. CCR at 4.5% is still decent for online purchases but UCR is dead.

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

Follower — Thu, 19 Feb 2026 14:55:36 GMT

I was dreading this too, but I guess I just have to agree with @Hansolojr that twelve years was a good run. I'm not going anywhere either, since I'm in the BoA ecosystem up to my neck (see sig for cards, Merrill Wealth Management client, etc.).

I just have to tell myself starting in May that, for every $100 I spent on, say, the UR, I used to get $2.63 back for every $100 spent, whereas now I will get back ... $2.25. It's not really that bad.

Re: BoA Preffered Rewards Changes ahead estimated 5/26/26

odd_dog — Thu, 19 Feb 2026 15:10:06 GMT

@Follower wrote:
I was dreading this too, but I guess I just have to agree with @Hansolojr that twelve years was a good run. I'm not going anywhere either, since I'm in the BoA ecosystem up to my neck (see sig for cards, Merrill Wealth Management client, etc.).

I just have to tell myself starting in May that, for every $100 I spent on, say, the UR, I used to get $2.63 back for every $100 spent, whereas now I will get back ... $2.25. It's not really that bad.

As an existing Merrill client it starts in NOVEMBER for us.....six extra months....which gives Merrill enough time to get our portfolios over the 1 Million mark then NO CHANGE in percents earned.......