Kudos has partnered with CardRatings and Red Ventures for our coverage of credit card products. Kudos, CardRatings, and Red Ventures may receive a commission from card issuers. Kudos may receive commission from card issuers. Some of the card offers that appear on Kudos are from advertisers and may impact how and where card products appear on the site. Kudos tries to include as many card companies and offers as we are aware of, including offers from issuers that don't pay us, but we may not cover all card companies or all available card offers. You don't have to use our links, but we're grateful when you do!
Chase Sapphire Preferred® Card vs. Bank of America® Premium Rewards® Elite Credit Card: Which Is Better in 2026?
July 1, 2025
At first glance, comparing the Chase Sapphire Preferred® Card and the Bank of America® Premium Rewards® Elite credit card seems straightforward. Both are travel rewards cards. Both earn points on dining and travel. Both carry no foreign transaction fees.
But they are built for fundamentally different types of cardholders — and the gap between their annual fees reflects a genuinely different value proposition, not just a tiered version of the same card. Understanding what drives that difference is the key to choosing the right one.
Editor's Picks
The Chase Sapphire Preferred® Card is our pick for travelers who want flexible, high-value points they can transfer to airline and hotel partners — with strong travel protections and a modest annual fee that's easy to justify.
The Bank of America® Premium Rewards® Elite credit card is our pick for existing Bank of America customers — particularly those enrolled in Preferred Rewards — who want premium perks including lounge access, travel statement credits, and elevated earn rates through their banking relationship.
What's New in 2026
Chase Sapphire Preferred® Card: The card earns an anniversary bonus equal to 10% of total purchases made in the previous year — a benefit that accumulates meaningfully for active everyday spenders and is worth factoring into the annual value calculation. See current card terms for the welcome offer, which includes a spend requirement and time period that must be met after account opening.
Bank of America® Premium Rewards® Elite: The card's Preferred Rewards integration remains unchanged. The three-tier structure — Gold (25% rewards bonus), Platinum (50% bonus), and Platinum Honors (75% bonus) — continues to be the most decisive variable in evaluating the BoA card's actual earn rate for any specific cardholder. See current card terms for current credit amounts.
Chase Sapphire Preferred® Card Breakdown
[[ SINGLE_CARD * {"id": "509", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Frequent Travelers", "headerHint": "Exceptional Travel Value"} ]]
Bank of America® Premium Rewards® Elite Breakdown
[[ SINGLE_CARD * {"id": "867", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Frequent Travelers", "headerHint": "Redemption & Travel"} ]]
Head-to-Head: How They Compare Across Key Categories
Annual Fee
This is the most important starting point. The two cards sit in different fee tiers — see current card terms for both amounts. The Sapphire Preferred's annual fee is typically recouped through the annual hotel credit and moderate travel and dining use. The Premium Rewards Elite's higher annual fee requires active use of its travel and lifestyle credits, plus ideally a Preferred Rewards membership to fully justify the cost differential.
If you're evaluating the BoA card purely on rewards and credits without a Preferred Rewards relationship, the standard Bank of America® Premium Rewards® credit card at a lower annual fee deserves serious consideration as an alternative.
Rewards Earning
The Sapphire Preferred earns at multiple elevated rates across specific categories. Without Preferred Rewards status, the Premium Rewards Elite earns a simpler structure — elevated on travel and dining, flat elsewhere. With Platinum Honors Preferred Rewards status, the BoA card can match or exceed the Sapphire Preferred on everyday spending.
For anyone without $100,000 in Bank of America or Merrill qualifying balances, the Sapphire Preferred typically earns more in absolute dollar terms on dining, online groceries, and streaming. For Platinum Honors members, the math often shifts in BoA's favor on general spending.
Redemption Value
This is the sharpest divergence between the two cards. Sapphire Preferred points transfer to 14 airline and hotel partners at 1:1 — meaning a points balance can be worth significantly more than face value for the right redemption. Premium Rewards Elite points are fixed at 1 cent per point with no transfer path.
For cardholders willing to engage with transfer partners, the Sapphire Preferred's points will almost always deliver higher value per point. For cardholders who want simplicity and predictability, the BoA fixed-value model is easier to manage.
Airport Lounge Access
The Premium Rewards Elite includes Priority Pass Select — unlimited access to 1,300+ lounges globally. The Chase Sapphire Preferred offers no lounge access. If airport lounge access is a priority in your travel routine, this is a clear win for the BoA card.
For lounge access at the Sapphire Preferred's annual fee tier, consider the Chase Sapphire Reserve® as a step-up alternative that includes Priority Pass Select alongside a higher annual fee.
Travel Protections
Both cards include meaningful travel insurance — trip cancellation, trip delay, and baggage delay coverage. Primary rental car insurance is available on both the Premium Rewards Elite and the Sapphire Preferred — an important parity point. The Sapphire Preferred's travel insurance has been widely noted for its relatively broad coverage scope relative to its annual fee.
Chase 5/24 Rule — Application Consideration for Sapphire Preferred
If you're considering the Chase Sapphire Preferred, be aware of Chase's 5/24 rule: if you've opened five or more personal credit cards across all issuers in the past 24 months, Chase will typically decline your application. If you're building a Chase card portfolio, apply for Chase cards before accumulating openings from other issuers.
Who Should Choose the Chase Sapphire Preferred®?
The Chase Sapphire Preferred® Card earns its annual fee for a specific type of cardholder: someone who values flexible travel rewards over simplicity, is willing to engage with transfer partners, and travels frequently enough to use the card's travel protections and hotel credit.
You're a strong fit if you:
- Want transferable points that can unlock premium travel redemptions through airline and hotel partners
- Dine out frequently and want elevated earning on every restaurant meal worldwide
- Want primary rental car coverage and a strong travel insurance suite at a moderate annual fee
- Are building a portfolio where points from multiple cards pool together
- Travel internationally and want no foreign transaction fees
- Are newer to travel rewards and want an approachable entry point with genuine upside
Who Should Choose the Bank of America® Premium Rewards® Elite?
The Bank of America® Premium Rewards® Elite credit card delivers its best value for a specific type of cardholder: someone already invested in the Bank of America and Merrill banking ecosystem, ideally at Platinum or Platinum Honors Preferred Rewards status.
You're a strong fit if you:
- Have qualifying balances at Bank of America or Merrill that unlock Preferred Rewards status, particularly Platinum or Platinum Honors
- Fly frequently and will realistically use Priority Pass lounge access several times per year
- Prefer a simple flat-rate earn structure without tracking bonus categories
- Can maximize the card's travel and lifestyle statement credits to offset the annual fee
- Want primary rental car coverage alongside lounge access and premium travel protections
If you don't have a Preferred Rewards relationship: The case for the Elite tier over the standard Bank of America® Premium Rewards® credit card is significantly weaker. Evaluate whether the difference between the two fee levels is justified by the additional credits the Elite provides before committing.
Alternatives to Consider
[[ SINGLE_CARD * {"id": "510", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Frequent Travelers", "headerHint": "High-Value Perks"} ]]
Bank of America® Premium Rewards® Credit Card
[[ SINGLE_CARD * {"id": "189", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Frequent Travelers", "headerHint": "Mid-Tier Travel Rewards"} ]]
Capital One Venture X Rewards Credit Card
[[ SINGLE_CARD * {"id": "2888", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Frequent Travelers", "headerHint" : "Luxurious Travel Benefits" } ]]
Tips for Application Success
Before you apply:
- Check your credit score — both cards generally require good to excellent credit for approval.
- For the Sapphire Preferred specifically: verify your Chase 5/24 standing before applying. If you're at or above five new card openings in the past 24 months, wait before applying.
- For the Premium Rewards Elite: calculate your current Bank of America and Merrill qualifying balances. If you're not near a Preferred Rewards tier threshold, the standard Premium Rewards card at a lower annual fee may be a better first step.
- Compare current welcome offers carefully — Chase updates the Sapphire Preferred welcome offer periodically, and the spend requirement and time period vary. Apply when the offer is competitive.
Application strategy:
- If you're building a Chase portfolio with multiple cards, apply for the Sapphire Preferred before opening cards from other issuers that count toward 5/24.
- If you're close to a Preferred Rewards tier threshold, consider whether moving assets to reach the next tier (e.g., from Platinum to Platinum Honors) before applying changes the long-term value calculation for the BoA card.
- Don't apply for both cards simultaneously — each application triggers a hard inquiry, and opening multiple cards at once reduces approval odds.
Frequently Asked Questions
Which card is better for beginners in travel rewards?
The Chase Sapphire Preferred® Card is the stronger entry point for most people. Its annual fee is significantly lower, its transfer partner access is a meaningful learning opportunity for maximizing points value, and it pairs well with other Chase cards as your portfolio grows. The Premium Rewards Elite's value is heavily tied to the Preferred Rewards program, which requires a Bank of America banking relationship to unlock.
Does the Bank of America Preferred Rewards bonus make the BoA card better?
For Platinum Honors members — those with $100,000+ in qualifying balances — the 75% rewards bonus on all points earned makes the effective earn rate on the Premium Rewards Elite among the highest available on any card. For Gold or Platinum members, the Sapphire Preferred remains competitive or better across most spending categories. For cardholders with no Preferred Rewards status, the Sapphire Preferred typically delivers more value.
Can I transfer points from either card to airlines?
Chase Sapphire Preferred® points transfer to 14 airline and hotel partners at a 1:1 ratio, enabling potentially high-value redemptions. Bank of America® Premium Rewards® Elite points are fixed-value — redeemable at 1 cent per point for cash back, statement credits, or travel through the Bank of America Travel Center. There are no transfer partners.
Does the Chase Sapphire Preferred have lounge access?
No. The Chase Sapphire Preferred® Card does not include airport lounge access. For Priority Pass Select at a Chase-branded card, the Chase Sapphire Reserve® is the relevant option. The Bank of America® Premium Rewards® Elite includes unlimited Priority Pass Select membership.
Is the Premium Rewards Elite annual fee worth it without Preferred Rewards?
It's a much harder case to make. The standard Bank of America® Premium Rewards® credit card provides most of the same earn structure at a meaningfully lower annual fee. Without Preferred Rewards status to boost earning rates and without maximizing the Elite's specific statement credits, the incremental cost of the Elite tier over the standard card is difficult to justify for most cardholders.
What is the Chase 5/24 rule?
Chase typically declines credit card applications from individuals who have opened five or more personal credit cards across all issuers in the past 24 months — regardless of credit score or income. This is widely referred to as the 5/24 rule and is an important consideration if you're planning multiple card applications across different issuers. Apply for Chase cards before accumulating openings from other issuers.
Our Methodology
We evaluate nearly 3,000 credit cards across the U.S. market — far more than the roughly 150 cards commonly featured on sites that limit their evaluation to products tied to affiliate commissions. Our goal is to provide a comprehensive, unbiased view of the credit card landscape.
Our editorial team combines deep industry experience with rigorous verification standards. You can also explore the full dataset yourself through our card explorer tool, which includes thousands of cards — more than 95% of which do not provide us with commissions.
Unlock your extra benefits when you become a Kudos member
Turn your online shopping into even more rewards
Join over 400,000 members simplifying their finances
Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
.webp)
