Update 1/18/22: This program has now launched with Shell as the first partner. The rewards you receive depend on the card used, for example:
The first partner rewards seems fairly useless unfortunately.
Original post 12/14/21: Bank of America has announced the launch of something called ‘Partner Rewards‘. Credit & debit cardholders will be able to select one card to be associated with the program and then if they want to continue to receive their existing rewards or trade in their rewards for enhanced merchant benefits.
Bank of America hasn’t announced that these merchant benefits will be, but states that the first offer will be for a gasoline discount.
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Does anyone know if these partner rewards are retroactive , as in if I enrolled in the 15th of that month but i have qualifying gas purchases at the beginning of the month , and the whole month's gas spend will qualify for my partner rewards? Thanks!
"Switch and earn Fuel Rewards® savings instead of Bank of America card rewards when using your card at Shell. You can change rewards once a month."
BoA cash card gives 3% on gas. Looks like it will only offer Fuel Rewards once you activate. Am I reading too much into it.
For the Shell cents off per gallon offer, it looks like you need to join Shell's Fuel Rewards program.
may or may not be worth while depends on what you get and your perceived value of the offered partner rewards. below are from BoA FAQ. I wonder if BoA would offer something competitive if they partner with entities like airlines to make some customized all-rounder cards
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Your card rewards will only change when you use your card at a participating partner and have chosen to earn from their loyalty program instead. Your card rewards will stay the same at all other merchants.
You can change how you earn rewards, from either the partner's loyalty program or from Bank of America, once per month. Once a card’s rewards are saved for that specific partner, that choice is locked until the first day of the next calendar month.
You can change how you earn rewards, from either the partner's loyalty program or from Bank of America, once per month. Once a card’s rewards are saved for that specific partner, that choice is locked until the first day of the next calendar month.
When you activate a partner offer and use your card at that partner, you’ll no longer receive Bank of America credit card base rewards or bonus rewards, such as Preferred Rewards and customer bonuses.
where is it on the website. dont see anything when i log in
On the website, it is under the Rewards & Deals tab.
In the App, I found it by going to the Erica section. It should be one of the updates she pushes to you
Should just use Alberta
Is there a rhyme or reason to which cards are eligible? I assumed my premium rewards card would have this option but it’s only showing up on my debit card.
$0.10 per gallon is a useless discount for most areas. With gas at $3/gal, that discount equals 3.33% off, and it'd be better to use a credit card which earns 4% or 5% cash back.
... for instance, their cash rewards if you got $100k.
With that 5.25%, the gas price has to be lower than $1.90 for the $0.1 to be better.
Can apply to your debit card too, so might as well.
To get the highest rewards you need to keep at least $1 million with BoA lol
not quite. It is $100k. The multipliers, as of now, are maxed at Platinum Honors. Higher tiers do not get higher multipliers. Yet.
Not to mention it pools the balances with Merrill. An IRA with zero trade fees could be parked there if you don't have the liquid cash/investments.