(Bloomberg) -- Bank of America Corp. is working with Grubhub to offer its card customers new perks for spending on food deliveries.
Starting Thursday, Bank of America existing debit and credit-card holders can get online food takeout with no delivery fees through a complimentary one-year Grubhub+ membership, normally $9.99 a month, the company said in a statement.
Demand for food delivery remains high even after restaurants reopened and inflation worsened, Chris Curtin, head of rewards at Bank of America, said in an interview. “Where the dollar isn’t going as far, those spending categories have great value and meaning to our clients,” he said.
Credit-card spending is showing signs of slowing amid rising rents and other increased costs. Bank of America said credit and debit cards spending increased in July by 5.3% from a year earlier, down from 5.7% in June.
Just Eat Takeaway.com NV agreed last month to sell a Grubhub stake to Amazon.com Inc., which plans to offer US Prime users a one-year membership to the food-delivery service. The BofA-Grubhub announcement follows a similar move by JPMorgan Chase & Co., which teamed up with DoorDash Inc. to offer its card users a similar perk.
Bank of America has been reworking its credit-card portfolio, adding perks and offerings for consumers and executives. Last year, it revamped its rewards program, introducing a $550-a-year metal card that offers extra points on travel and dining purchases along with a $300 travel credit.
Read More: BofA Sees Slower Card Spending as Rent Increases Dent Wallets
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