![Southwest Companion Pass: A Guide to Earning It For Two Years [2026-2027]](https://yourbestcreditcards.com/wp-content/uploads/2022/12/southwest-rapid-rewards-premier-credit-card.jpg)
* Suggested credit score ranges for credit cards are supplied by QuinStreet, not from the issuers, and are guidelines, not a guarantee of approval.
* Suggested credit score ranges for credit cards are supplied by QuinStreet, not from the issuers, and are guidelines, not a guarantee of approval.
Starting around May 27, 2026, some Bank of America customers will be earning a lot les cash back from their banking relationship, with the 75% rewards bonus now reserved for those with $1,000,000 in linked deposits, up from $100,000, a ten-fold increase.
The new program is called Bank of America Rewards.
Here is how your current tier maps:
| Program | Tier | Combined balance requirement | Credit card bonus |
|---|---|---|---|
| Old (Preferred Rewards) | Gold | $20,000–$49,999 | +25% |
| Platinum | $50,000–$99,999 | +50% | |
| Platinum Honors | $100,000–$999,999 | +75% | |
| Diamond Honors | $1,000,000+ | +75% | |
| New (BofA Rewards) | Member | <$30,000 | +10% |
| Preferred Plus | $30,000–$99,999 | +25% | |
| Preferred Honors | $100,000–$999,999 | +50% | |
| Premier | $1,000,000+ | +75% |
How will this affect your credit card rewards?
Let’s look at some common cards and cash back rates:
1) BofA Customized Cash Rewards
Base earning (ongoing): 3% choice category, 2% grocery + wholesale clubs, 1% other (3% and 2% apply on up to $2,500/quarter combined for choice category + grocery/wholesale).
| Tier / balance | Bonus | 3% category | 2% grocery/wholesale | 1% other |
|---|---|---|---|---|
| Old $100k (Platinum Honors) | 75% | 5.25% | 3.50% | 1.75% |
| New $100k (Preferred Honors) | 50% | 4.50% | 3.00% | 1.50% |
| New $1M+ (Premier) | 75% | 5.25% | 3.50% | 1.75% |
| New $30k–$99,999 (Preferred Plus) | 25% | 3.75% | 2.50% | 1.25% |
| New <$30k (Member) | 10% | 3.30% | 2.20% | 1.10% |
2) BofA Unlimited Cash Rewards
Base: 1.5% cash back on all purchases.
| Tier / balance | Bonus | Effective everywhere |
|---|---|---|
| Old $100k | 75% | 2.625% |
| New $100k | 50% | 2.25% |
| New $1M+ | 75% | 2.625% |
| New $30k–$99,999 | 25% | 1.875% |
| New <$30k | 10% | 1.65% |
3) BofA Premium Rewards
Base: 2 points/$ on travel & dining, 1.5 points/$ on everything else. (Typically easiest to think of as 2% and 1.5% equivalents if redeemed as cash at 1 cent/point.)
| Tier / balance | Bonus | Travel/Dining (2x) | Other (1.5x) |
|---|---|---|---|
| Old $100k | 75% | 3.50x | 2.625x |
| New $100k | 50% | 3.00x | 2.25x |
| New $1M+ | 75% | 3.50x | 2.625x |
| New $30k–$99,999 | 25% | 2.50x | 1.875x |
| New <$30k | 10% | 2.20x | 1.65x |
Bottom Line
I think that many people have $100,000 in a brokerage account, sitting in a money market fund, just to earn the highest rates – which makes sense! But these new rates will have a pretty significant impact on what you earn. If you remain at the $100,000 level, you will see:
- Your credit card bonus drop from 75% to 50%.
- 1.75 multipliers become just 1.50.
- The highest possible earn rate of 5.25% on the Customized Cash card’s 3% category becomes 4.5%.
![[Last Chance! Ends by 9 AM EST on 6/15/2026] Best Ever 150,000 Point Bonus on Chase Sapphire Reserve®](https://yourbestcreditcards.com/wp-content/uploads/2025/06/New-Sapphire-Reserve-Social-768x403.png)
