What Bank of America offers as a sign-up bonus
Bank of America credit cards come with different sign-up bonuses depending on which card you choose. Some cards offer cash back, others offer points toward travel, and a few offer statement credits. The bonus you receive depends on the specific card and the offer at the time you open the account.
Most bonuses require you to spend a certain amount within a set timeframe—typically three to six months. For example, a card might offer 500 bonus points if you spend $3,000 in the first three months. You do not receive the bonus automatically; it posts to your account once you meet the spending requirement.
The dollar value of a bonus varies. Some cards offer bonuses worth $100 to $200 in cash back or statement credits. Travel cards may offer bonuses worth more in points, though the actual cash value depends on how you redeem them. The best bonus for you depends on how much you plan to spend and what rewards matter to you.
Key Takeaways
- Bank of America sign-up bonuses require you to spend a minimum amount within a specific timeframe, usually three to six months, before the bonus posts.
- Different cards offer different bonus types: cash back, points, or statement credits, so compare what each card rewards before opening.
- You must meet the spending requirement to receive the bonus—it does not post if you do not reach the threshold.
- Bonus offers change regularly, so the current offer on a card may differ from what you see advertised elsewhere.
How to find the current bonus offer for each card
Bank of America lists current bonus offers on its official website under each card's product page. Go to the Bank of America credit cards section, select the card you are interested in, and look for the "Offer" or "Bonus" section near the top of the page. This shows what is being offered right now, not what was offered in the past.
Bonus offers change frequently—sometimes monthly. The offer you see today may not be the same next week. If you are comparing cards, check each one's page directly rather than relying on older articles or third-party sites, because those may show outdated information.
Some cards have multiple offers running at the same time, targeted to different groups of people. For instance, one offer might be for new customers, while another is for existing Bank of America customers. Read the terms carefully to see which offer applies to you.
What you need to do to earn the bonus
After you open the card, you have a set window—usually three to six months—to spend the required amount. This spending must be on the card itself; transfers from other accounts or balance transfers typically do not count. Regular purchases at stores, online, and for bills all count toward the requirement.
Once you reach the spending threshold, the bonus posts automatically within one to two billing cycles. You do not need to request it or enter a code. It appears as a credit or points deposit in your account.
If you do not meet the spending requirement by the important date, you do not receive the bonus. There is no partial bonus for spending partway there. Plan your spending carefully if the requirement is high, or choose a card with a lower threshold if you are unsure you can spend that much in the timeframe.
Understanding the spending requirement and timeframe
The spending requirement is the total dollar amount you must charge to the card within the bonus period. A $3,000 requirement means $3,000 in purchases, not $3,000 in payments. If you spend $2,500 in three months, you do not meet the requirement, even if you pay the full balance.
The timeframe starts when your account opens, not when you receive the card in the mail. If your account opens on January 15 and the requirement is three months, you have until April 15 to spend the required amount. Check your account opening date in your online banking portal to be sure.
Some cards offer longer timeframes for higher spending requirements. A card might ask for $5,000 in six months instead of $3,000 in three months. Neither is inherently better—choose based on how much you realistically spend and how quickly you can spend it.
How bonuses are taxed and reported
Bank of America does not report sign-up bonuses as taxable income on a 1099 form. The IRS treats credit card bonuses as a reduction in the cost of the card, not as income. This means you do not owe federal income tax on the bonus itself.
This applies to cash-back bonuses, statement credits, and points bonuses. The tax treatment is the same regardless of the bonus type. Keep records of your bonus in case you ever need to reference it, but you do not need to report it on your tax return.
If you redeem points or cash back later for a purchase or travel, that redemption is also not taxable. You are straightforward using a benefit of the card you already own.
Comparing bonuses across Bank of America cards
Bank of America offers several cards with different bonuses. The Bank of America Cash Rewards card offers cash back on purchases in different categories. The Bank of America Premium Rewards card offers points on all purchases. The Bank of America Travel Rewards card offers points redeemable for travel.
To compare, look at three things: the bonus amount, the spending requirement, and what you earn after the bonus period ends. A card with a $200 bonus but a $5,000 spending requirement may not be worth it if you do not spend that much. A card with a lower bonus but lower spending requirement might be better for your situation.
Also consider the annual fee. Some Bank of America cards charge an annual fee, which reduces the value of the bonus. If a card offers a $200 bonus but charges a $95 annual fee, the net benefit is $105 in your first year. Compare this to cards with no annual fee to decide which is worth opening.
What happens if you close the card after earning the bonus
You can close a Bank of America credit card after earning the bonus without penalty. The bonus is yours to keep once it posts to your account. Closing the card does not reverse the bonus or require you to repay it.
However, closing a card affects your credit in two ways: it lowers your total available credit, which can raise your credit utilization ratio, and it removes an account from your credit history, which can lower your score slightly. These effects are usually temporary. If you plan to close the card, wait at least a few months after earning the bonus so the bonus is fully posted and any credit impact has time to recover.
If you want to keep the card open, consider whether the ongoing rewards and any annual fee make sense for your spending. Many people keep Bank of America cards open for the rewards even after earning the bonus.
Frequently Asked Questions
Can I earn the bonus if I already have a Bank of America credit card?
Most Bank of America cards have a rule that you cannot earn a bonus if you have opened the same card in the past 24 months. However, you can usually earn a bonus on a different Bank of America card. Check the specific card's terms to see if you are may be able to access based on your account history.
What if I do not spend enough to meet the requirement before the important date?
If you do not reach the spending threshold by the important date, the bonus does not post. There is no partial bonus or extension. Plan your spending in advance, or choose a card with a lower requirement if you are unsure you can meet it.
Does the bonus count toward my credit limit?
No. The bonus is a separate credit to your account and does not reduce your available credit. Your credit limit remains the same whether you earn the bonus or not.
Can I use a balance transfer to meet the spending requirement?
No. Balance transfers—moving debt from another card to the new card—typically do not count toward the spending requirement. Only new purchases count. Check your card's terms to confirm, as this rule can vary slightly by card.
When does the bonus post after I meet the spending requirement?
The bonus usually posts within one to two billing cycles after you meet the spending requirement. This means if you reach the threshold on day 85 of your bonus period, you may not see the bonus until 30 to 60 days later. Plan ahead if you need the bonus by a specific date.