Should I Use Bank of America’s CD to Hit Platinum Rewards, or Invest Elsewhere?

I’m hoping to get some advice on a decision I’m facing. I have $40k to invest, and my main goal is to keep risk at (basically) zero.

Here’s the situation:

I currently have a Bank of America credit card with 1.8% unlimited cashback. If I maintain $50k in qualified Bank of America/Merrill accounts, I can upgrade to Platinum Honors and get 2.3% cashback on my card (plus some perks like waived fees, better rates, etc.). They’re offering a 7-month CD at 3.7% APY. If I park my $40k there, I’ll be able to reach $50k total for Platinum Honors. Or I could invest the $40k elsewhere and lose the Platinum Honors tier for my card and stay at 1.8% cashback.

**My questions:**

1. Has anyone here navigated BoA’s Platinum Honors program? How beneficial do you find that the program is?
2. Is it worth it to take a slightly lower rate on a BoA CD (3.7% for 7 months) just to maintain Platinum Honors status, given the 2.3% cashback benefits? And does anyone have any other no/low-risk investment ideas that might beat BoA’s 3.7% CD over 7 months, factoring in the potential gain of the extra 0.5% on my credit card spending?

I’m definitely leaning towards locking in the CD at BoA for peace of mind and to get the Platinum status, but I don’t want to overlook alternatives that might be a better opportunity.

Any thoughts, experiences, or advice would be really appreciated!