Bank of America's $175 Retention Offer: How to Score Easy Cash Before Closing a Card

Thinking about closing a Bank of America credit card? Hold that thought. There's a retention offer floating around that could put $175 in your pocket just for keeping the card open and hitting a modest spending target. It's not brand new—people have been talking about it since 2023—but it's still flying under the radar for a lot of cardholders. And here's the kicker: it's apparently working on cards that don't even have an annual fee. Let's dig into how to check if you're eligible, which cards have seen success, and a few things to watch out for before you dive in.

How to Snag the $175 Retention Offer

The easiest way to see if you're eligible is through the Bank of America mobile app. Open the app, find your card, and look for the chatbot or 'Information & Services' section. From there, you'll want to navigate to the option that says 'Close credit card account.' Don't worry—you're not actually closing it yet. The system will walk you through a few prompts. When it asks if you're sure, say no to the fraud warning, and click 'Not now' when it asks about spending your rewards. At that point, if you're eligible, the $175 offer should pop up. If you see a 'Submit' button instead, that means the offer isn't available, and clicking it would actually close the card. So be careful.

If the chatbot route doesn't work, you can try calling Bank of America directly. Some people have had success by simply asking a representative if there are any retention offers available on their account. It's a low-effort ask that could pay off.

One important note: this offer seems to be targeted. Not everyone will see it, and it's not guaranteed. But if you've had your card for a while and use it at least occasionally, your odds are decent.

• Open the Bank of America app and go to your card details
• Tap 'Information & Services' then 'Close credit card account'
• Decline the fraud prompt and the 'spend your rewards' prompt
• If the $175 offer appears, accept it. If you see 'Submit,' back out.
• Alternatively, call customer service and ask about retention offers

Which Cards Are Getting the Love?

There's no official list from Bank of America, but based on reports from cardholders, several cards have been confirmed to work. These include the Travel Rewards card, Customized Cash Rewards, Premium Rewards Elite Visa Infinite, and even the Atmos and Atmos Ascent cards. Interestingly, one person reported the offer worked on an Atmos card even after they'd downgraded it. So if you have a card that's been product-changed, it's still worth a shot.

Business cards? Not so much—at least not yet. I haven't seen any solid data points showing this works on business accounts, but that could change. If you have a business card, it doesn't hurt to try, but don't get your hopes up.

Timing and Multiple Cards: What You Need to Know

How long do you need to have the card before you're eligible? There's no hard-and-fast rule, but the data points are mixed. One person with a card less than two months old didn't see the offer. Another with a slightly older card did. So if your card is brand new, you might want to wait a few months before trying.

Can you get this offer on multiple cards? Probably not. Most people report that once they accept the offer on one card, the option disappears from their other Bank of America cards. So if you have more than one card, think about which one you'd rather keep and try that one first. There's a chance the method could work on multiple cards if you do it in a specific way, but that's not the norm.

And yes, you can still get this offer even if you're actively using the card. You don't need to let it sit idle to be eligible.

A Few Things to Watch Out For

First, this is a retention offer, not a sign-up bonus. That means you need to be a current cardholder. If you're thinking about closing a card anyway, this is a no-brainer—you're essentially getting paid to keep it open for another three months. But if you weren't planning to close it, don't go through the close-card process just to check. The chatbot path is safe as long as you don't hit that final 'Submit' button.

Second, the $175 comes after you spend $1,500 within three months. That's a pretty low bar for most people, but make sure you can hit it without going into debt or buying things you don't need. If you're already using the card regularly, you'll probably hit that spend naturally.

Finally, remember that retention offers can change or disappear at any time. What's working today might not work next week. So if you're interested, don't sit on it too long.

Bottom Line

• Bank of America is offering $175 retention bonuses on select personal credit cards after you spend $1,500 in 3 months.
• Check eligibility via the app chatbot or by calling customer service—no need to actually close the card.
• Works on several cards including no-annual-fee options like Travel Rewards and Customized Cash Rewards.
• Likely limited to one card per customer, so choose wisely if you have multiple BofA cards.
• Not confirmed for business cards yet, but personal cardholders should definitely try.

Common Questions