Bank of America Launches BofA Rewards Loyalty Program
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy BAC?
Source: PRnewswire
- Loyalty Program Launch: Bank of America announced the launch of BofA Rewards™ on May 27, designed to reward customers without fees, enhancing their relationship with the bank and Merrill investments.
- Expanded Customer Eligibility: Over 30 million customers now qualify for the program, allowing them to enjoy personalized rewards and benefits, significantly boosting customer satisfaction and loyalty.
- Diverse Reward Value: BofA Rewards members can earn between $150 and $4,000 annually based on their membership level and participation, further incentivizing active engagement with banking services.
- Enhanced Comprehensive Services: The program offers not only credit card benefits and cash back but also personalized services and experiences, aiming to improve overall customer experience and market competitiveness through diverse offerings.
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Analyst Views on BAC
Wall Street analysts forecast BAC stock price to rise
19 Analyst Rating
15 Buy
4 Hold
0 Sell
Strong Buy
Current: 52.740
Low
55.00
Averages
61.64
High
71.00
Current: 52.740
Low
55.00
Averages
61.64
High
71.00
About BAC
Bank of America Corporation is a bank holding company and a financial holding company. Its segments include Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking and Global Markets. Consumer Banking segment offers a range of credit, banking and investment products and services to consumers and small businesses. The GWIM includes two businesses: Merrill Wealth Management, which provides tailored solutions to meet clients' needs through a full set of investment management, brokerage, banking and retirement products and Bank of America Private Bank, which provides comprehensive wealth management solutions. Global Banking segment provides a range of lending-related products and services, integrated working capital management and treasury solutions, and underwriting and advisory services. Global Markets segment offers sales and trading services and research services to institutional clients across fixed-income, credit, currency, commodity, and equity businesses.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Loyalty Program Launch: Bank of America introduced a new loyalty program called BofA Rewards on Wednesday, aimed at increasing client engagement and expected to attract over 30 million existing clients, thereby enhancing relationships across banking and Merrill investment accounts.
- No Minimum Participation: The program is open to clients with a Bank of America personal checking account and requires no minimum balance, with membership tiers based on account balances, allowing clients to earn rewards valued up to $4,000 annually, reflecting the bank's commitment to diverse client needs.
- Diverse Reward Offerings: BofA Rewards includes various incentives such as credit card rewards of up to 75% on purchases, cash-back deals from over 15,000 brands, and exclusive discounts on home and auto loans, designed to meet clients' needs at different life stages.
- Premium Member Benefits: Preferred Honors and Premier tier members can receive reimbursements for popular subscriptions, with credits of up to $96 per year for Preferred Honors and up to $180 for Premier members, further enhancing loyalty and satisfaction among high-end clients.
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- Loyalty Program Launch: Bank of America announced the launch of BofA Rewards™ on May 27, designed to reward customers without fees, enhancing their relationship with the bank and Merrill investments.
- Expanded Customer Eligibility: Over 30 million customers now qualify for the program, allowing them to enjoy personalized rewards and benefits, significantly boosting customer satisfaction and loyalty.
- Diverse Reward Value: BofA Rewards members can earn between $150 and $4,000 annually based on their membership level and participation, further incentivizing active engagement with banking services.
- Enhanced Comprehensive Services: The program offers not only credit card benefits and cash back but also personalized services and experiences, aiming to improve overall customer experience and market competitiveness through diverse offerings.
See More
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