We wrote about the changes coming to Bank of America’s relationship program with the 2.62% card ending for most people.
Good news: we learned today that the change will only take effect 3 months after the Anniversary Date following November 2026. Some people will keep their status into 2028 – it all depends when your anniversary date is.
Per a memo sent to bankers:
• Preferred Rewards credit card members will keep their current rewards bonus on their existing card until their next program enrollment anniversary month starting Nov. 1, 2026. At that point, their bonus will be reevaluated based on their new tier.
◦ Example: A Platinum Honors member with a July anniversary will continue to receive a 75% card bonus, even though their new BofA Rewards Preferred Honors tier offers a 50% bonus. In July 2027, their tier will be reevaluated. If they remain in the Preferred Honors tier, their card bonus will adjust to 50% three months later, in October 2027.
• Starting May 26, new credit cards will receive the bonus amount of the new BofA Rewards tier.
Best case scenario: someone who has an Anniversary Date in October. They’ll get reevaluated in October 2027 and they’ll keep status for three more months – through December 2027 and possibly into January 2028.
Worst case scenario: someone who has an Anniversary Date in November. They’ll get reevaluated in November 2026 and they’ll keep status for three more months – through January 2027 and possibly into February 2027.
What in the world is my Anniversary Date? It’s the date your enrolled in the BofA relationship program. In your Bank of America login you’ll at the top-right of your main login page. On the app go to Menu > Preferred Rewards.
My enrollment date is in April and so I’ll keep status through June 2027.
Note, per the memo, new cards opened after May 2026 will immediately get the relationship tier based on the new program details, even if you concurrently have an older card earning a better rate.
Remember, you can still signup now for the Unlimited Cash Rewards card and get 3.12% everywhere for one year and the Customized Cash Rewards card gets 8.25% on the category limit for one year. Everyone is keeping their status through January 2027, and for some people it will continue many months beyond that.
Big thanks to the anonymous reader who sent this in
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