Credit card face-off: Bank of America Premium Rewards versus the Chase Sapphire Preferred

News
Bank of America Premium Rewards Card vs. Chase Sapphire Preferred 4X3

The Bank of America® Premium Rewards® credit card and the Chase Sapphire Preferred® Card are two of the best rewards credit cards with annual fees at the $95 level.
Both cards offer valuable sign-up bonuses and rewards with on all your spending, as well as travel protections and waived foreign transaction fees.
If you want to use rewards to travel, the Chase Sapphire Preferred® Card is probably a better choice thanks to the airline and hotel partners in the Ultimate Rewards program.
The Bank of America® Premium Rewards® credit card is a better pick if you prefer using rewards for cash back.
See Business Insider’s list of the best rewards credit cards you can get »

When it comes to earning rewards with a credit card, there are almost too many option to choose from at the moment. You’ve got airline cards and hotel credit cards, but you also have cash-back credit cards that you let earn statement credits, gift cards, or merchandise.

There are also travel rewards cards that earn “flexible” points that can be redeemed in various ways, and these cards give you several options when it comes to cashing in your points. These cards offer the most bang for your buck since they let you earn rewards upfront and decide how to redeem them in later.

Both the Bank of America® Premium Rewards® credit card and the Chase Sapphire Preferred® Card fall into this category, which is part of the reason they’re both so popular. If you’re considering a credit card to earn rewards and want some options when it comes to redeeming them, keep reading to see how these two cards stack up.

Bank of America Premium Rewards Card vs. Chase Sapphire Preferred: The biggest differences

Chase Sapphire Preferred® Card
Bank of America® Premium Rewards® credit card
Annual fee
$95
$95
Welcome bonus
60,000 points after you spend $4,000 in the first three months from account opening
50,000 points after you spend $3,000 in the first 90 days from account opening
Earning rate

2x points on travel and dining

1 point per dollar on everything else

2x points on travel and dining

1.5x points on other purchases

Statement credits
N/A

Qualify for up to $100 in airfare incidentals

Up to a $100 credit toward the Global Entry or TSA PreCheck application fee

Other benefits

Get 25% more travel for free when you book through the Chase portal

No foreign transaction fees

Qualify for travel insurance benefits

Qualify for 25% to 75% more rewards if you’re a Bank of America Preferred Rewards customer

No foreign transaction fees

Qualify for travel insurance benefits

Welcome offer

Both cards offer a similar sign-up bonus, although the Chase Sapphire Preferred® Card comes out slightly ahead. With the Sapphire Preferred, you’ll earn 60,000 points after you spend $4,000 on your card within the first three months. These points are worth $600 in statement credits or gift cards, but the bonus is worth $750 if you redeem points for travel thanks to the fact you get 25% more travel for free when you use points …read more

Source:: Business Insider

      

(Visited 1 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *