Bank of America is adding an incentive to its merchant-funded BankAmeriDeals platform that enables consumers to earn an additional $100 cash back annually for redeeming deals.
Beginning early next year, BofA customers who’ve linked a credit or debit card to the BankAmeriDeals platform—which provides cash back on deals at selected merchants—will earn a “coin” for each deal they redeem. By collecting BankAmeriDeals coins, users can earn more than $100 each year, BofA said in a Thursday press release.
The incentive marks a new direction for card-linked offers, which have become a staple for many banks that offer the deals through third-party services like
To redeem deals, BofA consumers go online or to the mobile app and click on cash-back deals they want, and when the purchase is complete, cash-back savings of up to 15% are credited back to the user’s account at the end of the month.
BofA’s goal with the coins incentive is to make the BankAmeriDeals experience “more interactive,” a BofA spokesperson said.
