You’re probably leaving money on the table. Most people think their bank is just a place where their paycheck lands before it vanishes into rent and groceries, but if you’re sitting on a Bank of America account, you’ve basically got a coupon book tucked inside your mobile app that you're likely ignoring. It’s not just about the pennies you get from interest. We're talking real, cold hard cash back and perks that actually move the needle on your monthly budget.
Honestly, the way they market these things is kind of a mess. You get these vague emails about "member rewards" and "special offers," and if you’re like me, you probably just archive them. But when you start digging into the actual Bank of America discounts, you realize there’s a weirdly specific system to it. It’s not a "one size fits all" deal. It’s a layered cake of cash back, museum passes, and tiered status that can feel like a part-time job to track if you don't know the shortcuts.
The Museums on Us Program is Still the Best Perk Nobody Uses
Let's start with the one that feels like a glitch in the matrix. For over 25 years, Bank of America has run this thing called "Museums on Us." It’s simple: on the first full weekend of every month, you get free general admission to more than 225 cultural institutions across the United States.
You just show your active Bank of America or Merrill credit or debit card along with a photo ID. That’s it. No complicated vouchers or QR codes to print out.
I’ve used this at the Metropolitan Museum of Art in New York and the Art Institute of Chicago. If you’re a family of four, we’re talking about saving nearly $100 in entrance fees just for having a plastic card in your wallet. It’s wild. But here is the catch: it only covers the cardholder. It doesn't cover your spouse or your kids unless they also have cards. Also, it’s only for general admission. If there is a "special" Van Gogh exhibit that requires an extra $20 ticket, you’re still paying that. Don't show up to the planetarium expecting a free show; it’s usually just the main galleries.
BankAmeriDeals is Basically Rakuten Built Into Your App
Then there’s the cash back side of things. If you open your mobile app and scroll down, you’ll see "BankAmeriDeals." This is where the real Bank of America discounts live for everyday stuff like Starbucks, Lululemon, or Chewy.
It works through "activation."
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You can't just shop and expect the discount. You have to go into the app, find the merchant, and click "Add to Card." If you forget that step, you get zero. It’s a bit annoying, I know. But the discounts are often 5%, 10%, or even 15% back. The money doesn't come off the price at the register; it hits your account as a statement credit later. It usually takes about 30 days, sometimes longer.
The interesting part is how these deals are targeted. My app shows me discounts for auto parts stores because I spent money at an oil change place last month. Yours might show you meal kit delivery services. It’s all based on your spending patterns.
- Check the expiration dates: These deals disappear fast.
- Watch the caps: Most deals have a maximum reward, like "$10 back on a $50+ purchase."
- Stacking is key: You can usually combine these with manufacturer coupons or in-store sales.
The Preferred Rewards Trap (And Why It’s Worth It)
This is where things get complicated. If you want the "heavy hitter" version of Bank of America discounts, you have to look at the Preferred Rewards program. This isn't for everyone because it requires you to keep a certain amount of money in your accounts.
To even get in the door for the "Gold" tier, you need a three-month average combined balance of $20,000 across your BofA and Merrill investment accounts.
Is it worth it? Maybe.
If you hit the "Platinum Honors" tier ($100k+ balance), your credit card rewards get a 75% boost. That means a card that normally gives you 1.5% cash back suddenly gives you 2.62% on everything. That’s industry-leading. You also get better rates on savings and lower rates on mortgages. But let’s be real: if you have $100k sitting in a low-interest savings account just to get a discount on a credit card, you might actually be losing money compared to putting that cash in a high-yield index fund. You have to do the math.
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Don't Forget the Travel and Entertainment Portal
There is this somewhat hidden corner of their website called the "Addison Travel" portal (sometimes branded as Bank of America Travel Center). If you have one of their travel cards, like the Travel Rewards or the Premium Rewards card, you can book flights and hotels through here.
Sometimes—not always, but sometimes—the rates are significantly lower than Expedia or Google Flights.
The real value here is for people who want to use their points. You get a flat 1 cent per point value when you redeem for travel. It’s predictable. Boring, but predictable. Unlike some other banks where you have to play "transfer partner roulette" to get value, BofA just lets you buy the ticket.
Specific Examples of Current Savings
Let's look at what's actually happening in the market right now. People are using these discounts for:
- Home Insurance: They often partner with companies like Liberty Mutual to offer "member only" rates. I’ve seen people save $200 a year just by switching through the BofA link.
- Car Rentals: Standard discounts with Hertz and Audi on demand (formerly Silvercar) are usually active.
- Pet Insurance: There’s frequently a 10% discount for BofA customers through PetPremium or similar partners.
The Downside: Privacy and Data
We have to talk about the "cost" of these discounts. To give you these targeted deals, Bank of America is tracking where you shop. They know you like Thai food and that you’ve been spending a lot at Home Depot lately. They use that data to pitch you more deals. For some people, that’s a dealbreaker. For others, it’s just the price of doing business in 2026.
Also, the customer service for these "deals" can be a nightmare. If a cash-back reward doesn't post, calling the bank often leads to a "it's the merchant's fault" runaround. The merchant says it's the bank's fault. You’re stuck in the middle for $4.20. Sometimes it’s better to just let it go.
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How to Maximize Your Savings Starting Today
If you want to actually see these Bank of America discounts work for you, you need a strategy. Don't just hope for the best.
First, download the app. If you’re only using the desktop site, you’re missing half the interface. Second, set a calendar reminder for the first Saturday of the month. That’s your Museum weekend. Even if you aren't an "art person," these places are great for a cheap date or a way to get the kids out of the house.
Third, check your BankAmeriDeals every Monday morning. That seems to be when the fresh ones drop. Toggle them all on. It doesn't hurt to have them active even if you don't use them.
Finally, if you have a mortgage or a car loan coming up, check the Preferred Rewards portal first. The interest rate discounts for members can save you thousands over the life of a loan. A 0.25% reduction on a mortgage doesn't sound like much, but over 30 years, it's a massive amount of money.
Stop treating your bank like a vault. Treat it like a tool. These perks are there because the bank wants to keep you from moving your money to a competitor. You might as well make them pay for that loyalty.
Go into your app right now. Scroll to the bottom. See if that 10% Starbucks deal is there. Activate it. Then, look up the nearest museum on the "Museums on Us" list for next month. It takes five minutes and puts money back in your pocket. That's the only way to win this game.