A Fresh Start for Rewards
Starting May 27, 2026, Bank of America is rolling out its new BofA Rewards program, a significant shift that eliminates the previous minimum balance requirement for enrollment. This change means that all personal checking account holders can now earn rewards, democratizing access to benefits previously reserved for higher-balance clients. The revamped program introduces new tiers, enhancing rewards for some while reducing them for others.
Understanding the Changes
Under the previous Preferred Rewards program, members needed a minimum of $20,000 to start earning rewards. However, the new BofA Rewards program allows anyone with a Bank of America personal checking account to join, without any balance restrictions. This shift is expected to increase membership from 11 million to as many as 30 million customers.
The program now features four tiers:
- Member: Less than $30,000
- Preferred Plus: $30,000 to under $100,000
- Preferred Honors: $100,000 to under $1 million
- Premier: $1 million or more
While this opens new opportunities for many, it's crucial to note that the maximum rewards boost has shifted. Previously, those in the Platinum Honors tier earned a 75% bonus on their credit card rewards; now, that benefit is only available to Premier members with $1 million or more. For those with balances between $100,000 and $999,999, the bonus drops to 50% — a significant reduction that could affect many loyal customers.
What This Means for Your Wallet
For cardholders, the changes present both opportunities and challenges. For example, the Customized Cash Rewards card, which offers a 3% cash back in a chosen category, will see different reward rates based on your new tier. Under the new structure:
- Member: 10% bonus (3.30% total)
- Preferred Plus: 25% bonus (3.75% total)
- Preferred Honors: 50% bonus (4.50% total)
- Premier: 75% bonus (5.25% total)
This means that if you previously enjoyed the highest bonus and now find yourself in a lower tier, your cash back could significantly decrease. For instance, moving from a 75% boost to a 50% boost could result in an effective cash back reduction from 2.6% to 2.25% on general purchases — a notable impact for regular users of these cards.
Take Action Now
With the launch of BofA Rewards, it’s an opportune moment to evaluate your credit card strategy. If you’re not already a Bank of America credit cardholder, now might be the best time to consider applying for cards like the BofA Customized Cash Rewards credit card, which offers a generous sign-up bonus and cash back in popular categories. The current offer includes a $200 cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
Streamline Your Rewards with SuperPay
To navigate these changes and maximize your credit card rewards effectively, consider using SuperPay. Our Rewards Roadmap (PRO+) feature can provide you with a personalized plan to maximize your points across all cards, ensuring you’re not leaving money on the table as the rewards landscape shifts. With real-time notifications and category tracking, SuperPay simplifies the process of choosing the best card for every purchase, making it easier than ever to optimize your rewards.
Your Next Step
Don’t let these changes catch you off guard. Download SuperPay on the App Store today and start optimizing your rewards effortlessly. With the right tools, you can make the most of your financial journey, regardless of the rewards program shifts you encounter.