Is there any downside in opting in for Bank of America Preferred Rewards?

I haven't seen any but opting in is voluntary and one can opt out, which makes me wonder whether there exists any downside.

  • 1
    Did you frame this question correctly? It looks like by default you don't have this, but you can easily enroll. (Which is different from by default you have it, and you can easily opt out.)
    – TTT
    Jan 6, 2019 at 20:41
  • @TTT I forgot whether enrolling was automated. I could rephrase as "Is there any downside in opting in for preferred rewards?" otherwise. In hindsight you're right, it seems like a better phrasing. Jan 6, 2019 at 20:44

1 Answer 1


When offering new perks to their customers, sometimes banks will require their members to opt-in with an action such as enrolling online. There are 2 main reasons banks do this:

  1. Typically the perks have a cost associated with them, and since not everyone will enroll, the bank will save money.
  2. The bank learns information from their enrollment marketing campaign, such as which members have seen the notice, which members clicked on it, and most importantly, which members actually enrolled.

In my experience, which I think is also true in this case, there's rarely (if ever) a good reason not to enroll for additional free perks, except that you have to spend a couple of minutes doing it (which for me sometimes is reason enough not to).

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .