As a Bank of America Preferred Rewards program member, you'll get a 25%, 50%, or 75% bonus on your credit card rewards earnings with select Bank of America credit cards. You can qualify for the Bank of America Preferred Rewards program by opening an eligible checking account with Bank of America and maintaining the required minimum balance -- $20,000 for Gold tier, $50,000 for Platinum tier, and $100,000 for Platinum Honors tier.