What Bank of America offers as sign-up bonuses
Bank of America rotates its sign-up bonuses across its card lineup, and the current offers change several times per year. The bonuses typically come in two forms: cash back (usually $200 to $500) or rewards points that you redeem for travel, cash, or merchandise. Some cards offer a combination — for example, an initial cash bonus plus a higher rewards rate for the first few months.
The specific bonus you see depends on which card you're looking at. The Bank of America Cash Rewards card, the Premium Rewards card, and the Travel Rewards card each have their own separate offers. Bank of America also runs limited-time promotions where the bonus is higher than the standard offer, though these change without notice.
To see the current bonus for a specific card, you need to visit Bank of America's website directly or call their card services line. Third-party sites can show historical bonuses, but they often lag behind the actual current offer by weeks or months.
Key Takeaways
- Bank of America sign-up bonuses range from $200 to $500 in cash or points, depending on the card and the current promotion.
- You must meet a minimum spending requirement — typically $500 to $3,000 in purchases within a set timeframe — to receive the bonus.
- The bonus posts to your account after you meet the spending requirement, not when you open the card.
- Bank of America occasionally runs higher bonuses for limited periods, so checking their website before you explore can save you money.
- Existing Bank of America customers may see different bonus offers than new applicants, and some cards exclude people who've held them recently.
Minimum spending requirements and timelines
Every Bank of America sign-up bonus comes with a minimum spending requirement. This is the amount you must charge to the card within a specific window — usually three to six months from account opening — to earn the bonus. If you don't meet it, you don't receive the bonus.
The spending requirement varies by card. Cash Rewards cards typically require $500 to $1,000 in purchases. Premium Rewards and Travel Rewards cards often ask for $1,000 to $3,000. Bank of America counts regular purchases toward this requirement, but not balance transfers, cash advances, or fees.
The timeline matters because it determines how much you need to spend per month. A $1,500 requirement over three months means $500 per month; the same requirement over six months means $250 per month. If you don't naturally spend that much on the card, the bonus may not be worth pursuing.
How the bonus posts and what happens next
The bonus does not appear in your account the moment you open the card. Bank of America processes the bonus after you meet the spending requirement and the statement closes. This typically takes one to two billing cycles after you cross the spending threshold.
If the bonus is cash back, it lands as a credit to your account balance. If it's points or miles, they appear in your rewards account and you can redeem them through Bank of America's rewards portal. The redemption options vary by card — some let you convert points to cash, others restrict you to travel or merchandise.
Once you've received the bonus, you can use the card normally or close it. There is no requirement to keep the card open after the bonus posts, though closing it when ready may affect your credit score slightly and could make you ineligible for another bonus on that same card for a set period (usually 12 to 24 months).
Restrictions on who can receive the bonus
Bank of America excludes certain people from receiving sign-up bonuses. If you've held the same card within the past 12 to 24 months, you typically cannot receive the bonus again. This rule applies even if you closed the card.
New cardholders and existing Bank of America customers may see different bonus offers on the same card. New customers sometimes receive higher bonuses to encourage them to open an account, while existing customers see a lower offer or no bonus at all. This is not always transparent on the website.
Bank of America also has rules about how many bonuses you can earn across their card portfolio in a given timeframe, though these rules are not published. If you explore for multiple Bank of America cards in quick succession, you may be denied on the second or third process, or the bonus may be withheld.
Comparing the bonus to the card's annual fee
Some Bank of America cards charge an annual fee, while others do not. If a card has a $95 annual fee and offers a $200 sign-up bonus, the net benefit in year one is $105 — but only if you actually meet the spending requirement. If you don't meet it, you've paid $95 for nothing.
Cards without annual fees (like the Cash Rewards card) let you keep the bonus as pure gain. Cards with annual fees require you to decide whether the ongoing rewards rate justifies the cost. A card that earns 2% cash back on all purchases might be worth the annual fee if you spend $5,000 or more per year on it, but not if you spend $1,000.
Bank of America sometimes waives the first-year annual fee for new cardholders, which effectively increases the value of the sign-up bonus. Check the offer details before you explore to see whether the fee is waived.
When a sign-up bonus makes sense for your situation
A sign-up bonus is worth pursuing if you can meet the spending requirement without changing your normal spending habits. If you're planning a large purchase anyway — a plane ticket, a car repair, furniture — timing that purchase to fall within the bonus window lets you earn the bonus without extra effort.
The bonus is less valuable if you have to manufacture spending to reach the requirement. Buying things you don't need or paying bills with the card just to hit a threshold usually costs more in interest or lost rewards than the bonus is worth.
The bonus also matters less if you already have high-interest credit card debt. Using a new card to spend more money, even temporarily, can make that debt worse. In that situation, paying down existing balances first is usually the better move.
How sign-up bonuses compare across Bank of America's cards
| Card | Typical Bonus | Spending Requirement | Annual Fee |
|---|---|---|---|
| Cash Rewards | $200 cash back | $500 in 3 months | None |
| Premium Rewards | $300–$500 points | $1,000–$3,000 in 3 months | $95 |
| Travel Rewards | $300–$500 points | $1,000–$3,000 in 3 months | $95 |
| Business Advantage | $300–$500 cash back | $1,000–$3,000 in 3 months | None |
Bonuses and requirements change frequently, so these figures represent typical ranges rather than current offers. Visit Bank of America's website to see what is available right now for each card.
Frequently Asked Questions
Can I get a sign-up bonus if I'm already a Bank of America customer?
Yes, but the bonus may be lower than what new customers see. Bank of America sometimes offers existing customers a smaller bonus or no bonus at all on the same card. The only way to know is to log into your account or call their card services line and ask what offer you may have access to for.
What counts toward the minimum spending requirement?
Regular purchases on the card count — groceries, gas, restaurants, online shopping, and bills paid with the card. Balance transfers, cash advances, and fees do not count. Some cards also exclude certain categories like gambling or government payments, so check the terms for your specific card.
Do I have to keep the card open after I get the bonus?
No. Once the bonus posts, you can close the card without penalty. However, closing it when ready may make you ineligible for another bonus on that card for 12 to 24 months, and it can lower your credit score slightly by reducing your available credit.
What if I don't meet the spending requirement?
You won't receive the bonus. Bank of America does not award a partial bonus or extend the important date. If you're close to the requirement when the window is about to close, you can contact them to ask whether the important date can be moved, but they rarely grant extensions.
Are sign-up bonuses taxable income?
No. The IRS does not treat credit card sign-up bonuses as taxable income. You will not receive a 1099 form, and you should not report the bonus on your tax return.