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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 or online banks, Bank of America, Member FDIC, regularly pays bonuses to attract new customers. All you have to do is open a new Bank of America account and meet the requirements.
Bank of America Promotions and Bonuses
Banks often offer promotions to attract new customers. Promotions can range from $100 bonuses to $300 bonuses or more. These offers made the list because they’re lucrative promotions with requirements that are easily fulfillable by most people. Here’s a look at the Bank of America checking account offers currently available.
Bank of America Account Promos: Pros and Cons
| Pros | Cons |
|---|---|
| You can get some of the bonuses easily by opening an account or setting up direct deposit within the specified amount of days after opening your account. | Any bonuses you earn are considered taxable by the IRS. You’ll have to fill out Form 1099 when filing. |
| Many of the bonuses only require a low minimum deposit for opening an account compared to other banks. | The bonuses can come with additional costs such as maintenance fees and higher minimum balance requirements. |
Bank of America Advantage Plus Checking Account: $200
There can be more benefits than just high interest rates to catch your attention when opening a new bank account. If you are interested in a new checking account, the Bank of America sign-up bonus is currently being offered with a cash incentive for some checking options.
- Cash value: $200
- Minimum deposit to qualify: $2,000 within 90 days
- Minimum account opening requirement: $100
- Expiration date: May 31, 2024
- How to get it: Open a new Bank of America personal checking account through the offer page linked below.
- When you’ll get it: Within 60 business days of meeting the requirements.
- Terms and conditions: Must receive qualifying direct deposits of $2,000 or more within 90 days of opening the account.
- Monthly Maintenance fees: $0 to $12. The fee can be waived if you maintain a minimum daily balance of $1,500.
- Promotion page: Bank of America Advantage Banking $200 bonus
Bank of America Advantage SafeBalance Checking Account: $200
Bank of America Advantage SafeBalance banking offers you user-friendly and simple banking options. This Bank of America checking bonus is great for customers who are looking to have their basic daily banking needs met by their financial center.
- Cash value: $200
- Minimum deposit to qualify: $2,000 within 90 days
- Minimum account opening requirement: $25
- Expiration date: May 31, 2024
- How to get it: Open a new Bank of America SafeBalance checking account through the offer page linked below and use Bank of America offer code TWA200CIS
- When you’ll get it: Within 60 days of meeting the requirements.
- Terms and conditions: Must receive qualifying direct deposits of $2,000 or more within 90 days of opening the account.
- Monthly Maintenance fees: $0 to $4.95. The fee can be waived if you maintain a minimum daily balance of $500 in your account.
- Promotion page: Bank of America Advantage Banking $200 bonus
May Bank of America Account Promotions Breakdown
| Bank Account | Sign-up Bonus | Expiration Date |
|---|---|---|
| Bank of America Advantage Plus Checking Account | $200 | May 31, 2024 |
| Bank of America Advantage SafeBalance Checking Account | $200 | May 31, 2024 |
Bank of America Credit Card Promotions
You can easily earn Bank of America bonuses with one of the bank’s rewards credit cards. You get the perks of a rewards card while added bonuses sweeten the deal.
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 with this Bank of America $300 bonus, 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 of account opening.
- 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
Bank of America® Premium Rewards® Credit Card: 60,000 Bonus Points ($600 Value)
Bank of America’s top-ranked Premium Rewards credit card gives you up to two points for every dollar you spend. This $600 offer comes with additional features like travel statement credits and up to $100 every four years for TSA PreCheck or Global Entry. Here are the details:
- Cash value: $600
- Minimum spend to qualify: $4,000
- Expiration date: None
- How to get it: Open an account online; use the card to make at least $4,000 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 bonus points.
- Annual fee: $95
- Promotion page: Premium Rewards credit card bonus offer
Bank of America® Customized Cash Rewards Credit Card: $200 Bonus
You can earn up to 3% cash back — and the option to boost points through Preferred Rewards. The card comes with no annual fee and 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
- 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, on every $1 spent. 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
- Promotion page: Travel Rewards credit card bonus offer
Final Take To GO: Bank of America New Account Bonus
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, including savings accounts and CD accounts before opening yours.
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.
Information on promotions is accurate as of May 7, 2024. Additional requirements may apply. Offers and terms are subject to change.
Caitlyn Moorhead contributed to the reporting for this article.
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.
Source: gobankingrates.com
