How do I become a platinum member at Bank of America? (2024)

How do I become a platinum member at Bank of America?

Preferred Rewards program members who hold between $100,000 and $999,999 in three-month combined average daily balances across their Bank of America and Merrill accounts will receive Platinum Honors status. Platinum Honors builds on the benefits of the Platinum tier and includes a credit card reward bonus of 75%.

What is the minimum balance for Bank of America Platinum?

Preferred Rewards tiers
Required three-month combined average daily balance$20,000 to $50,000$50,000 to $100,000
Credit card rewards bonus25%50%
Savings interest rate booster5%10%
Mortgage origination fee reduction$200$400
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What does Bank of America Platinum mean?

Preferred Rewards program members who hold between $100,000 and $999,999 in three-month combined average daily balances across their Bank of America and Merrill accounts will receive Platinum Honors status. Platinum Honors builds on the benefits of the Platinum tier and includes a credit card reward bonus of 75%.

What is a preferred customer at Bank of America?

The Bank of America Preferred Rewards program is available to select banking customers with at least $20,000 in an eligible Bank of America account. With five different tiers, program members receive various perks, such as credit card rewards bonuses and interest rate discounts.

How do I get a Platinum Bank card?

The eligibility criteria varies wildly between card issuers as there's no standard set of rules for what a platinum card is. Typically, you'll need to earn over a certain amount to be considered for this type of credit card because of the higher credit limits.

What is the difference between gold and platinum accounts?

Platinum cards give higher minimum credit limits than gold cards, which can be a bonus if you spend a lot on credit and can responsibly manage your credit card payments. Platinum cards charge higher annual fees than gold cards offered by the same provider.

How do I avoid monthly service fee Bank of America?

each month You can avoid the Monthly Maintenance Fee when you meet ONE of the following requirements during each statement cycle: • Maintain a minimum daily balance of $500 or more in your account, OR • Ask us to link your account to your Bank of America Advantage Relationship Banking®, Bank of America Advantage® with ...

What is the diamond level at Bank of America?

One program. Many benefits.
Diamond $1MM to < $10MM three-month combined average daily balanceDiamond Honors $10MM+ three-month combined average daily balance
Auto purchase or refinance loan interest rate discount 80.50%0.50%
Up to 4 eligible checking and 4 savings accounts with no monthly maintenance feeUnlimitedUnlimited
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How can you avoid a monthly maintenance fee?

8 ways to avoid monthly checking fees
  1. Sign up for direct deposit.
  2. Find a bank that doesn't charge monthly fees.
  3. Meet the minimum balance requirement.
  4. Open another account at the same bank.
  5. Take advantage of mobile banking.
  6. Meet the minimum debit card usage.
  7. Ask for fee forgiveness.
Apr 18, 2023

What is the benefit of American Platinum?

Benefits at the airport
BenefitsAAdvantage Executive Platinum®AAdvantage Platinum Pro®
Priority through the airport at check-in, security and boardingavailableavailable
Free checked bags33
Priority bag deliveryavailableavailable
Same-day standby priorityavailableavailable
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Is US Bank Platinum Card hard to get?

The credit score you need for the U.S. Bank Platinum card is 700 or better. That means people with at least good credit have a shot at getting approved for this card.

Is a platinum card prestigious?

American Express “precious metal” cards, whether Gold or Platinum have a reputation of prestige. The Gold card and the Platinum card both offer a range of benefits to cardholders, and they both have annual fees that are significantly higher than the average credit card fee.

What is the rule of 60 at Bank of America?

When you leave, any balance will be forfeited unless you've met the Rule of 60 (at least 10 years of vesting service, and that number plus your age equals at least 60). You can take HSA funds with you when you leave the bank or retire.

How do you qualify for Bank of America Preferred status?

To qualify for the Bank of America Preferred Rewards program, you must have both of the following:
  • An active, eligible Bank of America checking account.
  • A three-month combined average daily balance of $20,000 or more in qualifying Bank of America deposit accounts and/or Merrill investment accounts.
Dec 19, 2023

Why do people prefer Bank of America?

Bank of America is best for customers who want a reliable digital banking experience, the option to visit a branch location and a full array of savings products and other financial services.

What salary do you need for a platinum card?

Annual income of $100,000 or more. Aged 18 years or over.

Can anyone get a platinum card?

Anyone can qualify for a platinum credit card as long as they are 18+ years old and have enough income to afford the monthly bills.

How much do you need to qualify for a platinum card?

What does your credit score need to be for the Amex Platinum card? While there is no set score needed, we recommend you have a credit score of at least 670, 2 years of clean credit history, and an income of at least $50,000 per year to apply for the Amex Platinum card.

Is platinum worth the extra money?

Like gold, platinum is thought to be a worthy investment, as you're highly unlikely to make any kind of loss. However, it isn't completely risk-free. As with anything, the price can fluctuate depending on demand. However, the demand for platinum is only increasing, so there's money to be made by savvy investors.

How expensive is platinum?

Historical Prices for Platinum
Date ▼OpenDaily Low
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Is platinum card the highest?

The Platinum Card is the next step up from the Gold Card and comes with many luxury benefits. Qualifying for this card requires a very high credit score—and a lengthy credit history. Prospective cardholders also require relatively high income to be approved for the card, though certainly not as lofty as the Black Card.

Why is Bank of America charging me $12 dollars a month?

Bank of America's checking accounts are only “free” if you meet certain qualifications. Again, to avoid Bank of America's Advantage Plus accounts' $12 monthly maintenance fee, you'll have to meet one of several requirements, such as maintaining a $1,500 daily minimum balance.

Is Bank of America a good Bank?

We rate Bank of America 4 out of 5 stars, giving it high marks for branch and ATM access but lower scores for its rates on deposit accounts. The bank has checking accounts with low or no monthly fees, a rewards debit program and relatively low overdraft fees.

How much do I need to keep in Bank of America checking account?

Checking account fees Advantage Plus Banking

Bank of America Advantage Plus has a $100 minimum opening deposit and a $12 monthly maintenance fee which can be waived if you do one of the following: Make at least one qualifying Direct Deposit of $250 or more. Maintain a minimum daily balance of $1,500 or more.

What are the two pros and two cons of Bank of America?

Bank of America Pros and Cons
Large bank with 3,900 branches around the US Possible to waive monthly fees Free overdraft protectionLow interest rates on savings and CDs Monthly fees on accounts
Feb 2, 2024

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