One of my favorite perks of the credit card game is the status that come in many different programs. Hotels and airlines will clamor to get your business and give out rewards for your loyalty! Have you ever considered being loyal to a bank? There can be some pretty nice benefits that you can take advantage of if you happen to have a lot of money invested in your favorite bank.
In Bank of America’s case, they do offer quite a few benefits, with the most notable being a higher reward multiplier on their cash back credit cards. It looks like they are adding a new one for their members.
In order to be a Gold Member in Bank of America’s Preferred Reward program, you will need to have $20,000+ with Bank of America. Gold members will now receive 10 free trades per month
In order to be a Platinum member, you will need to have $50,000+ with Bank of America. All Platinum members will have 50 free trades per month
In order to be a Platinum Honors member, you will need to have $100,000+ with Bank of America. Platinum Honors members will now receive 100 free trades per month
Being a Preferred Reward member at Bank of America does take some pretty big investment, with a minimum of $20,000 invested in Bank of America’s ecosystem. That being said, being part of the program does have its benefits! One of the most relevant ones for us at creditalacarte is the ability to get a higher reward multiplier on Bank of America’s cash back cards.
However, in addition to the many benefits that comes with loyalty to Bank of America comes the ability to get some free trades. Typically, being a Platinum of Platinum Honors member already came with free trades per month. However, this change allows Gold members the ability to get some free trades every month.
Overall, this change makes things more accessible to more people and that’s a good thing. Now a days, a lot of apps include free trading, however, sometimes it’s just better to have your money in a place with more advanced tools.
Is this a welcome change for you, or do you prefer to use apps with free trading? Let us know below!