If you're not familiar with the term "golden handcuffs," it generally refers to giving employees or customers incentives to keep doing what they're doing-working for or with your company.

For employees, golden handcuffs may mean stock options that vest only after a certain period of time or perks that don't kick in until you've been employed for a certain period, or maybe just a kick-ass compensation package that pays well, offers free dry cleaning and health club memberships, whatever. For customers, golden handcuffs can come in the form of offering such great rewards (or discount savings) that customers can't stand to leave.

I think Bank of America has been mastering the art of golden handcuffs recently. Two examples:

1. A little while back Bank of America started offering free stock trades (up to 30 per month) for customers that keep $25,000 in bank deposits with them, which includes the total of any and all checking accounts, savings accounts and high-yield CDs.

2. Bank of America announced earlier this week that they are launching a new credit card with an old name, BankAmericard, that will offer a standard rewards program, i.e., one point per dollar toward rewards or cash back. EXCEPT... if you have any other Bank of America accounts other than credit cards, like checking, savings, loans, etc., you get 1.25 points per dollar AND you get another quarter-point per dollar bonus each year when you keep those other Bank of America accounts open. This means you could end up getting 1.5 points per dollar in rewards, which is significantly better than the majority of other cards on the market.

So, once Bank of America ropes you in, they keep giving you extra rewards for staying, with the threat of losing those rewards should you leave. Golden handcuffs.

(Handcuff picture filched from Safety Gear HQ.)