We'll let you know if a benefit requires a new account to activate. Some benefits, like the credit card rewards bonus, get applied right away if you have an eligible card when you join.

Other benefits, like the auto loan discount, may require new accounts. For example, if you have an auto loan with us when you join the BofA Rewards program, we can’t retroactively apply the discount to that loan.

Once you activate a benefit, it could take us up to 30 days to reflect it as used in your Activity. Rest assured — you'll get the benefit as long as you follow any steps required to redeem.

BofA Rewards Preferred Honors and Premier tier members have access to lifestyle benefits - which provide premium offers, private events and exclusively curated experiences. It's our way of saying thank-you for everything you do with Bank of America and Merrill. Once enrolled in BofA Rewards, you'll automatically have access to lifestyle benefits from the BofA Rewards page.

BofA Rewards Preferred Honors and Premier tier members have access to subscription credits on popular brands.

BofA Rewards members must first enroll in subscription credits and pay for their monthly subscription with an eligible Bank of America debit card. Preferred Honors and Premier members are eligible to receive up to $8 and $15 max monthly credit, respectively.

Watch video to learn how to activate subscription credits.

BofA Rewards members enjoy access to a comprehensive suite of fraud and identity monitoring tools, including dark web and Social Security number (SSN) monitoring for you and your family, lost wallet assistance, and more. Plus, with My Credit you can check your FICO® Score, credit report and help manage your credit health. To activate your benefits, join BofA Rewards and enroll in My Credit.

To activate the discount, apply for a new Bank of America auto loan using an eligible source. You can use Online or Mobile Banking or chat with one of our specialists over the phone or at a financial center.

The interest rate discount doesn’t apply to:

• Bank of America auto loans you had before joining the BofA Rewards program
• Applications from car dealerships, manufacturers, or third parties
• Leases

Here are some of the no-fee banking services that BofA Rewards members are eligible for, based upon their tier:

• Monthly maintenance fees are waived on unlimited checking and savings accounts for the Preferred Plus tier and above
• ATM/Debit card rush delivery fees are waived for the Preferred Plus tier and above
• Non-Bank of America ATM fees are waived for withdrawals and transfers at the Preferred Plus tier – one per statement cycle; and unlimited for Preferred Honors and Premier tiers
• ATM international transaction fees are waived for the Premier tier
• Incoming domestic and international wire transfer fees are waived for the Preferred Plus tier and above
• Outgoing domestic and international wire transfer fees are waived for the Premier tier
• Cashier check fees, standard check order fees and stop payment fees are waived for the Preferred Plus tier and above
• Preferred Plus and Preferred Honors tiers qualify for free standard checks or discounts on certain designs. Premier tier qualifies for free checks and deposit tickets without a style limitation and a waiver of the expedited delivery fee
• Overdraft item fees are waived for the Premier tier
• International debit card foreign currency transaction fees are waived for the Premier tier
• Standard shipping fees on digital foreign currency orders are waived for the Preferred Plus tier and above
• Small safe deposit box discounts, including a free small box and $30 off a large box, are available for the Preferred Honors tier and above

No. BofA Rewards is exclusively for consumers. Business banking customers may be eligible for Preferred Rewards for Business.

Learn more about Preferred Rewards for Business

No. Once you join, we’ll apply certain benefits to accounts you already have on file with us. If you have an eligible credit card with us when you join, you won’t need to take any extra action to apply the benefit to your account.

Others benefits only apply when a new account is opened, such as an auto loan. If you have an existing auto loan, mortgage or home equity loan with us when you join BofA Rewards, we do not retroactively apply your discount to that loan.

No. Your BofA Rewards program status doesn’t guarantee approval for lending and credit products. Our credit approval requirements, standard underwriting and credit policies still apply.

Depending on your tier, you may be eligible for rate discounts, fee discounts, or credit card bonuses, as long as you’re approved.

Merrill and Bank of America are both wholly owned subsidiaries of Bank of America Corporation. The BofA Rewards program is designed to offer benefits based on the breadth of a client’s relationship - including Bank of America deposit account balances, and Merrill investment account balances count toward BofA Rewards tier balance requirements.