Chase Sapphire Preferred vs Bank of America Premium Rewards Elite: Which Is Better In 2025?

Bank of America® Premium Rewards® Elite Breakdown

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Why We Like It

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Here’s a closer look at why we’re fans of the Bank of America® Premium Rewards® Elite card.

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• The card offers a valuable suite of annual statement credits for airline incidentals, rideshare, and food delivery.
• Cardholders receive complimentary unlimited airport lounge access through a Priority Pass Select membership.
• It's possible to offset the card's $550 annual fee in the first year by maximizing the up to $300 airline incidental credit, up to $150 lifestyle credit, and the $100 Global Entry/TSA PreCheck credit (publisher-formulated estimate).

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Pros

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• Features a strong rewards-earning structure with a high base rate on all purchases and a broad definition of travel that includes amusement parks and zoos.
• Existing Bank of America® customers can significantly boost their earnings through the Preferred Rewards® program.
• Comes with a variety of travel protections, such as trip delay reimbursement and lost luggage coverage.

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Cons

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• The card lacks travel transfer partners, a significant drawback for those looking to maximize rewards through airline or hotel loyalty programs.
• Maximizing point value requires booking flights through Bank of America’s travel portal, which can be restrictive for travelers who prefer booking directly with airlines.
• Many of the card’s perks are very similar to the less expensive Bank of America® Premium Rewards® credit card, which may not justify the higher annual fee for some users.

Bank of America® Premium Rewards® Elite vs Chase Sapphire Preferred®

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Categories

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Deciding which is better, Chase Sapphire Preferred or Bank of America Premium Rewards Elite, depends entirely on your travel style and banking preferences. Each card caters to a different type of traveler, offering distinct benefits and reward structures.

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• Chase Sapphire Preferred® Card is an excellent entry-level travel card for those new to rewards or who want strong, versatile benefits without a premium cost. It's designed for frequent travelers looking to maximize points on travel and dining.
• Bank of America® Premium Rewards Elite credit card is geared toward premium travelers who prioritize luxury perks like airport lounge access and travel credits. It offers the most value to those already within the Bank of America banking and investment ecosystem.

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Redemption

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Chase Sapphire Preferred®: Points can be redeemed for cash back or gift cards, but the real value comes from booking travel through the Chase portal or transferring points to various airline and hotel partners.

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Bank of America® Premium Rewards® Elite: This card offers straightforward redemption options, allowing you to redeem points for cash back, statement credits, or travel booked through the Bank of America Travel Center.

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Travel Perks

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• Lounge Access: The Bank of America® Premium Rewards® Elite card includes complimentary airport lounge access through a partner network, a key benefit for frequent flyers. The Chase Sapphire Preferred® Card does not offer this perk.
• Travel Portals: Both cards feature travel portals for booking flights, hotels, and car rentals. Points redeemed for travel through the Chase portal receive a value boost, while the Bank of America card uses its own Travel Center for straightforward redemptions.
• Point Transfers: A major advantage of the Sapphire Preferred is the ability to transfer points to numerous airline and hotel loyalty programs, which can significantly increase their value. The Premium Rewards Elite does not have transfer partners; points are redeemed for a fixed value.
• Foreign Transaction Fees: Both cards are excellent for international travel as neither charges a foreign transaction fee.
• Annual Credits: The Premium Rewards Elite offers annual credits that can be applied toward airline incidentals and certain lifestyle purchases. The Sapphire Preferred provides an annual hotel credit on bookings made through its portal.

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Compare Top Rated Credit Cards with Kudos

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To make the decision even easier, you can use a tool like Kudos to compare top-rated cards based on your own spending.

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• Test drive credit cards: The platform’s Test Drive feature uses your real spending data to show personalized earnings projections for any card, helping you see its value without a hard credit pull or commitment.
• Maximize rewards: Get personalized card recommendations, access exclusive offers, and stack rewards on top of your existing credit card points. Kudos also offers a welcome offer guarantee, matching any better offer you find within three months.
• Monitor your finances: Track your spending, monitor your credit score, and check your progress toward credit card sign-up bonuses all in one place.
• Check approval odds: Receive a detailed analysis of your approval odds for new cards based on your credit report before you apply.

Who Should Choose the Chase Sapphire Preferred®?

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The Chase Sapphire Preferred® Card is an excellent choice for frequent travelers who want to earn significant rewards without committing to a high annual fee. It's particularly well-suited for individuals who spend regularly on travel and dining and value the peace of mind that comes with robust travel protections. Those looking for flexible point redemption, including valuable transfers to airline and hotel partners, will find this card to be a powerful tool, as detailed in our comprehensive review.

Who Should Choose the Bank of America® Premium Rewards® Elite?

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The Bank of America® Premium Rewards® Elite card is tailored for frequent travelers who are already deeply invested in the Bank of America ecosystem, especially Preferred Rewards members. These cardholders can maximize value through luxury travel perks like airport lounge access and hotel benefits, while also earning boosted rewards on their spending. As NerdWallet's review highlights, this card is best for those who can fully utilize the annual statement credits to offset its hefty $550 annual fee.

Alternatives to Consider

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If the Chase Sapphire Preferred® vs Bank of America® Premium Rewards® Elite comparison has you looking for other options, you're in luck. Several other travel rewards cards offer compelling benefits that might be a better fit for your wallet.

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Tips for Application Success

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Before You Apply

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• Check your credit score to ensure it meets the typical requirements for a premium rewards card.
• Review issuer application rules, as some banks have restrictions based on your recent card history.
• Plan your points strategy by researching redemption options and transfer partners before you apply.

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Application Strategy

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• Be mindful of issuer rules, like the Chase 5/24 rule, which can impact your approval.
• Leverage existing relationships for enhanced rewards, such as with Bank of America's Preferred Rewards program.
• Search for the best offer by trying again later or using a different browser if you don't see it initially.

Our Methodology

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We evaluate nearly 3,000 credit cards across the U.S. market — far more than the ~150 cards commonly featured on sites that focus only on products tied to affiliate commissions. Our goal is to provide a comprehensive, unbiased view of the credit card landscape so you can make confident, data-driven decisions.

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Our editorial team combines deep industry experience with rigorous verification standards. While our experts surface the most relevant recommendations in our guides, 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.

Frequently Asked Questions

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Which card is better for beginners in travel rewards?

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The Chase Sapphire Preferred® Card is often considered more beginner-friendly due to its lower annual fee and straightforward, valuable redemption options through the Chase travel portal and transfer partners.

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What is the Bank of America Preferred Rewards bonus?

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If you are a Bank of America Preferred Rewards member, you can earn a 25% to 75% rewards bonus on points earned with the Premium Rewards® Elite card, significantly boosting your earning potential.

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Can I transfer points from both cards to airlines?

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You can transfer points from the Chase Sapphire Preferred® Card to numerous airline and hotel partners, but the Bank of America® Premium Rewards® Elite credit card does not offer a point transfer feature.

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Are the annual travel credits on these cards easy to use?

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The Chase Sapphire Preferred® Card has a simple $50 annual hotel credit for portal bookings. The Bank of America® Premium Rewards® Elite credit card offers broader airline incidental and lifestyle credits, which may require more tracking to fully utilize.

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