BoA's Preferred Rewards multiplier (25-75% boost for Platinum Honors at $100k+ deposits) is underrated. We surface it as a niche option for readers already deep in the BoA/Merrill ecosystem.
Bank of America and Merrill customers with Preferred Rewards status — the 1.5% base rate scales 25–75% higher at the deposit tiers, reaching an effective 2.625% flat at Platinum Honors ($100K+ in qualifying balances). A 15-month 0% intro APR rounds it out.
Students who plan to travel after college and want to start accumulating flexible travel points — 1.5 points per dollar on everything, redeemable as a statement credit against travel and dining, with a $0 annual fee and no foreign transaction fee.
Alaska Airlines flyers — especially on the West Coast — who want an annual companion fare (from $122 plus taxes and fees), a free first checked bag, priority boarding, and 3x miles on Alaska purchases, with no foreign transaction fee.
Balance consolidators who want a clean, no-frills 0% intro window from Bank of America — up to 18 billing cycles on both purchases and balance transfers, with a 3% transfer fee locked in if you move balances within the first 60 days.
Reviewed by the ClearValue Editorial Team. See methodology and disclosure.
