If you aren’t a current Bank of America customer, or if you’re in the market for a new credit card, now is the time to snag some bonus cash by checking out the best Bank of America promotions and offers.
Like many banks, Bank of America regularly pays bonuses to attract new customers. All you have to do is open a new Bank of America account and meet the requirements.
These Bank of America bonuses made the list because they’re lucrative bonuses with requirements within reach for most people.
Best Checking Account Promotions
Bank of America has one bonus for its Advantage Banking checking account that’s available to any new account holder. If you’re looking for a new checking account, choose the account setting that best meets your needs and score some free cash.
Bank of America Advantage Banking: $100 Bonus
Bank of America, Member FDIC, is currently offering a $100 bonus when you open an Advantage Banking account. This offer is available online only for new checking customers and you must meet certain requirements.
- Cash value: $100
- Minimum deposit to qualify: Qualifying direct deposits of $1,000 or more
- Expiration date: June 30, 2023
- How to get it: To qualify, you must first enroll in the offer through the Bank of America promotional page by opening a new checking account online using offer code DMF100CIS. Then, you must set up and receive qualifying direct deposits of $1,000 or more into that account within 90 days.
- When you’ll get it: Bank of America will attempt to pay the bonus within 60 days.
- Terms and conditions: This offer is only available to new Bank of America customers and those who have not had a Bank of America personal checking account within the last 12 months. Qualifying deposits include salary, pension and Social Security payments you receive regularly. See the offer page for more details.
- Monthly fee:
- Bank of America Advantage SafeBalance Banking®: $4.95 per statement cycle, though this can be waived for students under 25 or with enrollment in Preferred Rewards
- Bank of America Advantage Plus Banking®: $12, but this fee is waived if you meet minimum direct deposit or minimum daily balance requirements or enroll in Preferred Rewards
- Bank of America Advantage Relationship Banking®: $25, which is waived if you meet the minimum balance requirements in linked accounts or enroll in Preferred Rewards
Best Business Account Promotions
Currently, the available Bank of America business promotion is a credit card welcome offer.
Business Advantage Customized Cash Rewards Credit Card: $300 Statement Credit
With the Business Advantage Customized Cash Rewards credit card, you earn 3% cash back in a spending category of your choice, 2% cash back on dining and unlimited 1% cash back on other purchases. Best of all, you can change the 3% category each month via the mobile app. New customers can earn a statement credit worth $300 when they open an account. Here’s more:
- Cash value: $300
- Minimum spend to qualify: $3,000
- Expiration date: None
- How to get it: Open a new Business Advantage Customized Cash Rewards credit card and use the card to make at least $3,000 in purchases within 90 days.
- When you’ll get it: Eight to 12 weeks after meeting all requirements
- Terms and conditions: Applicants are subject to credit approval. Only one statement credit is allowed per company.
- Annual fee: None
- Promotion page: Business Advantage Customized Cash Rewards credit card bonus offer
Best Credit Card Promotions
Earn lucrative Bank of America bonuses with one of the bank’s rewards credit cards. Not only do you get the perks of a rewards card but also an added bonus to make the deal even sweeter.
Bank of America® Premium Rewards® Credit Card: 50,000 Bonus Points — $500 Value
Bank of America’s top-ranked Premium Rewards credit card gives you up to two points for every dollar you spend. It comes with additional features like travel statement credits and up to $200 every four years for TSA PreCheck or Global Entry. Here are the details:
- Cash value: $500
- Minimum spend to qualify: $3,000
- Expiration date: None
- How to get it: Open an account online; use the card to make at least $3,000 in purchases within 90 days.
- When you’ll get it: Eight to 12 weeks after meeting spending requirements
- Terms and conditions: The bonus offer is available only for new accounts. Customers are limited to one bonus and cannot convert an existing Bank of America account to earn the bonus points.
- Annual fee: $95
- Ongoing APR: 20.24% – 27.24% variable
- Promotion page: Premium Rewards credit card bonus offer
Bank of America® Customized Cash Rewards Credit Card: $200 Bonus
With the Bank of America® Customized Cash Rewards Credit Card, you earn up to 3% cash back — and the option to boost points through Preferred Rewards. The card comes with no annual fee and a 0% Intro APR for 18 billing cycles for purchases, then 18.24% – 28.24% Variable APR. New cardholders can earn a $200 bonus. Here are the details:
- Cash value: $200
- Minimum spend to qualify: $1,000
- Expiration date: None
- How to get it: Open an account online. Then make at least $1,000 in purchases within 90 days.
- When you’ll get it: Eight to 12 weeks after you meet the purchase criteria
- Terms and conditions: The offer is available for new credit card accounts only. Balance transfers, fees and adjustments to the account don’t qualify as purchases for the bonus.
- Annual fee: None
- Ongoing APR: 18.24% – 28.24% variable
- Promotion page: Customized Cash Rewards credit card bonus offer
Bank of America® Travel Rewards Credit Card: 25,000 Bonus Points — $250 Value
Currently, Bank of America is offering 25,000 bonus points when you open a new Travel Rewards credit card and spend $1,000 within the first 90 days. The bonus points may be redeemed for a $250 statement credit toward travel and dining purchases. The card also offers unlimited points at a rate of 1.5 points per dollar for all purchases and a 0% Intro APR for 18 billing cycles for purchases, then 18.24% – 28.24% Variable APR. Here are the details:
- Cash value: $250
- Minimum spend to qualify: $1,000
- Expiration date: None
- How to get it: Open an account online. Then make at least $1,000 in purchases within 90 days.
- When you’ll get it: Eight to 12 weeks after you meet the purchase criteria
- Terms and conditions: The offer is available for new credit card accounts only. Balance transfers, fees and adjustments to the account don’t qualify as purchases for the bonus.
- Annual fee: None, and no foreign transaction fees
- Ongoing APR: 18.24% – 28.24% variable
- Promotion page: Travel Rewards credit card bonus offer
Is Bank of America the Right Choice for You?
Bank of America offers a full lineup of banking products and services with branches across the country. It may be worth checking out if you like the convenience offered by a large, national bank. Make sure it meets your needs and explore the bank’s offerings before opening an account.
Cash bonuses are great perks, but they shouldn’t be the only reason you choose a bank. Bank of America accounts can come with hefty maintenance fees. Over time, they can cost you more than you earn through a bonus, so you’ll want to be aware of how to avoid the bank’s monthly fees.
Julia Gordon contributed to the reporting for this article.
Information on promotions is accurate as of Feb. 9, 2023. Additional requirements may apply. Offers and terms are subject to change.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
This article has been updated with additional reporting since its original publication.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
