Details are yet unknown, but Bank of America’s Preferred Rewards client relationship program is adding two new tiers to their program for those with $1,000,000 or more in assets (source). They are being transferred over from another Wealth Management program to be part of an upgraded tier in the Preferred Rewards program.
We have no information on any of the existing Preferred Rewards tiers changing, and hopefully those with $100,000 in assets will continue to enjoy their 75% credit card rewards boost, as prior.
As of November 12, 2021, or such later date as we may provide you notice of, the Preferred Rewards for Wealth Management program will be discontinued. If you are enrolled in the program on that day, your enrollment will be automatically transferred to the new Bank of America Preferred Rewards program. The new program will be expanded by adding two new tiers for clients with a qualifying balance of $1,000,000 or more. If your three month combined average daily balance is below $1,000,000 on the third business day of the month in which Preferred Rewards for Wealth Management discontinues, you will transition to the Preferred Rewards Platinum Honors tier.
Hat tip to reader Andrew