Bank of America’s Preferred Rewards program transitioned to the BofA Rewards program on May 27, 2026. Most existing members will be grandfathered into their current tiers for around 11 months, but the new program introduced several changes. One notable addition is a subscription credit benefit that offers up to $180 annually in credits for popular streaming and subscription services.
The official terms describe the subscription credits as follows:
BofA Rewards™ Subscription Credits. To qualify for the subscription credit benefit, you must:
(1) Be enrolled in the BofA Rewards program’s Preferred, Honors, or Premier tiers.
(2) Agree to the full terms of the subscription credit benefit on the subscription credit benefit page within BofA Rewards.
(3) Make payments directly to eligible merchants using your Bank of America debit card linked to a checking account that you designate via the subscription credit benefit page.Preferred and Honors tier members may receive statement credits up to $8 per month, while Premier tier members may receive up to $15 per month. Eligible merchants are subject to change without notice. Current merchants can be found on the subscription credit benefit page.
The subscription credit benefit page does not appear to be publicly available; it is visible only within BofA accounts for enrolled members. As a Premier tier member, I checked my own BofA Rewards area by logging into the online account, navigating to the “Rewards & Deals” tab, and then selecting “BofA Rewards.”
Under Feature Benefits I found the subscription benefit details available to me. While the exact presentation may vary between accounts, the information shown here reflects what I encountered as a Premier member.
Currently eligible merchants and their typical monthly prices (credits are applied in monthly increments) include:
- Paramount+: $8.99/month for the ad-supported Essential tier and $13.99/month for the ad-free Premium tier (which includes Showtime).
- SiriusXM: $11.99/month for the App-Only All Access plan; the Car + App All Access plan is commonly listed at $25.99/month.
- Wall Street Journal: Digital access often costs about $11.25 per week, though introductory or promotional rates can be lower; currently listed promotional pricing is $8 every 4 weeks for the first year.
- The Economist: Digital access is shown as $29 every 4 weeks.
The selection is somewhat narrow. For me, Paramount+ could be covered by the monthly credit if I choose the lower-priced tier, though I don’t currently subscribe and would likely not use it heavily. The Wall Street Journal is the service I value most, but I already access it through other means and the credit would not fully cover its cost. The Economist is expensive relative to the credit amount. It would be helpful if Bank of America rotated options or added more mainstream streaming platforms—Netflix, for example, would be a welcome addition.
Overall, the subscription credits are a useful perk for members who use these specific services, especially Premier members who can receive up to $15 per month. However, the current merchant list limits the benefit’s appeal for many customers. Monitoring the eligible merchant list and the subscription credit terms within your own BofA Rewards account is the best way to determine how valuable this benefit will be for you.