Bank of America reports 17.6 million BofA Rewards members after roughly 4 million quarterly enrolments

What changed

In its third-quarter results released October 14, Bank of America reported 17.6 million clients enrolled in BofA Rewards and approximately 4 million new enrolments during the quarter. The bank also reported combined credit and debit card spend of $266 billion, up 8% year over year, alongside 200,000-plus net new consumer checking accounts.

Loyalty and rewards implications

The results provide a credible scale signal for BofA's relationship-based rewards model, showing that rewards enrollment can support a broader primary-banking proposition rather than operate solely as a card benefit. Banks and credit unions should measure enrollment against primary-account acquisition, card spend and digital activity together, not as a standalone loyalty metric.