Key takeaways:
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Members receive benefits including credit card rewards bonuses, cash back offers, merchant discounts, enhanced fraud protection, subscription credits, and curated experiences based on membership tier.
Bank of America announced that more than 3 million clients have joined its new BofA Rewards program since its launch on May 27, 2026, demonstrating strong early adoption of the expanded loyalty offering. The no-fee program broadens eligibility beyond the bank's previous Preferred Rewards program, making it available to any customer with an eligible personal checking account and no minimum balance requirement. Members can earn rewards across their entire banking relationship, including enhanced credit card rewards, personalized cash back deals from more than 15,000 merchants, banking benefits, fraud and identity monitoring, subscription credits, and exclusive lifestyle experiences for higher-tier members. Nearly 14 million clients are now enrolled, with about 80% of new memberships completed through the bank's digital channels.
The program has also driven strong engagement, with nearly one million members using the new Deals feature to earn millions of dollars in cash back. Retail, gas, entertainment, and dining offers have generated the highest levels of activity, highlighting customers' interest in everyday rewards and personalized savings opportunities. Bank of America plans to continue expanding the program with additional offers and experiences over time.
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