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Bank of America Preferred Rewards 2026: What's Changing and Who's Affected
July 1, 2025
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The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.
If you've been relying on Bank of America's Preferred Rewards program to boost your credit card rewards, a significant change has arrived. And it's not in your favor.
Starting May 27, 2026, BofA is restructuring its Preferred Rewards tiers in a way that hits cardholders at the $100k–$999k balance range the hardest.
What's Changing
The tier names and thresholds are being completely overhauled. Here's how the old and new structures compare:
The biggest change: the 75% credit card rewards bonus now requires $1 million in assets at BofA, up from $100,000. That's a 10x increase in the balance threshold for the top reward rate.
Previously, a cardholder with $100k invested through Merrill could earn 2.625% back on the Bank of America® Unlimited Cash Rewards Secured Credit Card. Under the new structure, that same person drops to 2.25%.
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Who's Most Affected
Cardholders currently in the Platinum Honors tier ($100k–$999k) take the biggest hit. The credit card bonus drops from 75% to 50% when the new structure kicks in. BofA is giving existing members at least six months after the May 2026 rollout before tier benefits are reevaluated.
The One Bright Spot
BofA is adding a monthly subscription credit:
- Preferred Honors ($100k–$999k): $8/month on eligible subscriptions
- Premier ($1M+): $15/month
The credit must be charged to a BofA debit card. Eligible merchants haven't been fully disclosed yet.
Should You Move Your Money?
For cardholders who kept $100k at Merrill specifically to unlock the 75% bonus, the math no longer works as cleanly. It's worth comparing what other brokerages are offering, especially those with sign-up bonuses and competitive rates.
Make Sure You're Still Earning the Most on Every Purchase
If your BofA card is no longer your top earner, it may be time to reassess your wallet. Kudos accounts for your actual Preferred Rewards tier when calculating your rewards. When you add your BofA card to your Kudos wallet, you can select your membership level, and Kudos will automatically factor in your bonus rate on every purchase.
That means the rewards you see at checkout reflect what you actually earn, not just the base card rate. So if your tier has changed, updating it in Kudos keeps your recommendations accurate across your whole wallet.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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