Update 10/8/26: Reduced now to $375. Still a solid deal.
The Offer
- Rakuten is offering $425 when you click through the portal and signup for the Bank of America Premium Rewards card.
- The regular signup bonus from BofA still applies: Get 60,000 points after spending $4,000 within 3 months. See our full review of this offer in this post.
If you have your Rakuten set to membership rewards points, you won’t see these card bonus offers. Also note, some people report seeing $400 (not $425).
Our Verdict
Wow, this becomes a compelling bonus when combining the two bonuses. Despite the $95 annual fee, you’ll still get $425 + 60,000 points which is worth a minimum of $600 cash. And you can use the $100 airline credit and other benefits to offset the annual fee.
We’ll put future updates to this offer in our main Rakuten/BofA post as well; this is a very strong offer and worth highlighting separately, hence the dedicated post.
If you are new to Rakuten, check out our post with details on a signup bonus before joining.
Hat tip to readers rana and SG
who knows how it works if application went pending, if it gets approved who to contact to fix the issues if not tracking, BofA or Rakuten?
Interesting. Yeah, it seems like most of us are in this boat who were approved.Hopefully it will get resolved in due time.
is it still worth opening as it is down to $375?
Do you just buy the gift card from their site to activate this?
I applied and was approved 10/7 and its showing $0 as well so don’t think that’s the reason.
file a missing cash back claim for the $0 pending. I believe this is a back-end issue for Rakuten that they need to correct. The more that submit claims for that offer on that day, the more quickly Rakuten will realize this is a problem on their side they need to fix.
Yeah, I would say if it doesn’t update to $400/$425 by end of day, it would make sense to file a missing cash back claim. Some people do start at $0 and get updated to $400/$425 within hours. So good to give it a little time to correct before jumping to file a missing cash back claim.
I got approved on 10/7 and just got it to show pending, and I’m also at $0.00.
I only saw $400 , not $425. Last time for the travel rewards card, I only saw 300, while most saw 325. Don’t know why? Any tricks? Thanks.
I believe the interpretation is that the 24 month language is stating that you may not be approved for the card if you have held it within that time frame, but you can receive the bonus if you are approved for it. I decided to give that application a go through Rakuten and I had just cancelled my premier card approximately 2 months ago. I also just applied for their rewards card and travel card within the last 6 months as well, all approved. It’s also worth noting I have a checking account with them and have had that open for 10+ years
I just got the $200 & $275 Rakuten CB amounts “confirmed” for the CCR and TR within the past month – payout happening by November 15. I applied for them on July 9 and July 18 respectively and only had 1 credit pull as well.
Can you please mention the steps. Step 1. Click Rakuten link from Rakuten website. Step 2. Use prefill BoFA login. Need help as I am able to login separately and can start application but if I go through Rakuten the bofa prefill login doesn’t work it just refreshes the page.
Mine moved to $425 pending after ~16 hours after successful application via the browser embedded into the Rakuten mobile app. FWIW I don’t think it means much that yours shows $0, I’m sure it’ll update correctly at some point.
Perhaps try in the mobile app?
I have 3 CCRs & the Atmos Summit and was approved for this last night
I already had two other BofA cards and was approved for this one so holding two cards does not seem to be an impediment.
I already have two other BoA credit cards. Anybody think they will they give me a 3rd?
Some posts below said they hold a PR card and applied for a new one with the Rakuten offer. But BOA’s terms say you cannot have the 60,000 points if you have already held or canceled the PR card in the past 24 months. Can you have 2 PR cards and have the 60,000-point bonus for both?
It would be VERY weird to post this if not https://news.alaskaair.com/loyalty/atmos-rewards-expands/ In 2027, Alaska also plans to deepen its Bank of America relationship by enabling customers with eligible Bank of America card products to transfer points into Atmos Rewards.
I got denied so I wanted to try for p2. But the Rakuten offer is gone. I can see it on the homepage, but after clicking “learn more” Rakuten extension does not show this offer on the application page. Anyone having the same problem?
I’ve been blowing hot/cold on this card for a while, so it’s nice to have a reason to get it. Since I have BILT it’s even better – this is 42.5K atmos points for me
If you have a BoA and/or Merrill account (not sure if it’s just any checking account or there’s parameters) then they raise the threshold to 7/12
BOFA is big on relationship banking. They highly prioritize using CCs as bait for Merrill and BoA money deposits Any chance you’re over 3/12 (3 CCs taken out in the last 12 months from any issuer)? BoA will only waive that rule if you have an account (then it’s 7/12)
I’ve been Plat Honors for a while. Even with the nerf Plat Honors is enough to make BoA accounts very solid
I guess BoA stopped with the stupid mail recon shenanigans? That’s good news lol
The 888 number someone else posted. Search “recon” in comments
Thanks for the DP. What recon # did you use?
BofA checking accounts are a PITA to hold on to though cause you have to keep a min balance to avoid fee.
if you are having trouble try using mobile or app.
And if you’ve had the card in the past 2 years? Does BofA warn you you won’t get the bonus at the application?