*Your tier upgrade may take a bit longer if there are other changes to your account. If your average balance reached $60,000 in month seven and $90,000 in month eight, you’d qualify for the Platinum tier because your three-month average daily balance would be $60,000.*ĭivided by three months = $60,000 average daily balanceĬongratulations! You’ve qualified for the Platinum tier. You’ve been a Preferred Rewards Gold tier member for six months, with an average combined daily balance in your Bank of America and Merrill accounts of $30,000. To view your qualifying three-month combined average daily balance, log in to Online Banking or use our mobile app and go to My Rewards. Every month, we'll review your three-month average daily balance and if it’s high enough, you'll receive an automatic tier upgrade. Once you’re enrolled in Preferred Rewards, you can speak with a specialist to convert your existing savings account to a Bank of America Advantage Savings account or open a new credit card account that's eligible for the rewards bonus.Īfter you enroll, you can move to a higher Preferred Rewards tier - and enjoy more benefits and rewards - by increasing your qualifying Bank of America® deposit and/or Merrill® investment balances. An eligible Bank of America credit card, such as the Unlimited Cash Rewards, Customized Cash Rewards, Travel Rewards, or Premium Rewards® card, to receive the credit card rewards bonus.A Bank of America Advantage Savings account, to receive the savings interest rate booster.For example, for savings and credit card benefits, you'll need: To take advantage of some Preferred Rewards benefits, your existing accounts may require an account conversion, or you may want to open a new account to receive other program benefits. Once you enroll in Preferred Rewards, you can receive benefits on your existing eligible Bank of America banking and Merrill ® investing accounts. To become a Preferred Rewards member, you must have an active, eligible Bank of America® checking account. It depends on which accounts you already have. Small safe deposit box is available for Platinum tier and above.Stop payment fee is waived for all Preferred Rewards tiers.Check image service fee is waived for all Preferred Rewards tiers.Outgoing wire transfer fees are waived (two per statement cycle), for Diamond tier. ![]()
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