Key takeaways
- When it comes to travel-related card perks, the Chase Sapphire Preferred is an overall better choice than the Bank of America Travel Rewards credit card, but the Travel Rewards can still be the right choice for some people.
- Bank of America offers a Preferred Rewards program that boosts the rewards rates of its credit cards, so if you’re already a member of this program, you’d get a lot more value out of this card.
- The Sapphire Preferred also has a better welcome bonus offer and a higher overall rewards rate, but the Travel Rewards card has no annual fee and offers a 0 percent introductory APR on purchases and balance transfers.
If you’re trying to decide between the Bank of America® Travel Rewards credit card and the Chase Sapphire Preferred® Card, you have quite a bit to think about. For example, you’ll have to consider your routine spending habits, the type of rewards you want to earn and whether you’re comfortable paying an annual fee.
In the meantime, you should also consider whether you could benefit from a 0 percent APR on purchases for a limited time. Why? Because only one of these cards gives you this opportunity.
While the Bank of America Travel Rewards card and Chase Sapphire Preferred have quite a bit in common, there are some areas where one card undoubtedly beats out the other. Read on to learn which of these cards wins in the most important categories, as well as reasons to sign up for either option.
Main details
| Chase Sapphire Preferred | Bank of America Travel Rewards credit card | |
|---|---|---|
| Welcome bonus |
|
|
| Rewards rate |
|
|
| Intro APR offer |
|
|
| Annual fee | ||
| Foreign transaction fee |
Bank of America Travel Rewards card vs. Chase Sapphire Preferred highlights
Both cards offer generous rewards for travel and let you redeem your points for flexible options. However, the Chase Sapphire Preferred beats out the Bank of America Travel Rewards card in the more important categories.
Welcome bonus winner
-
While you do have to meet a higher spending threshold ($4,000 within three months of account opening) to earn the welcome bonus on the Chase Sapphire Preferred, the spending threshold is still reasonable, and the bonus is worth significantly more.
Chase Ultimate Rewards points are worth a minimum of 1 cent each when redeemed for cash back or statement credits, so 60,000 bonus points have a baseline value of $600. However, users get 25 percent more value when they redeem for travel through the Chase Travel portal, so these points are worth $750 in travel when redeemed through Chase.
By contrast, the 25,000 online bonus points you can earn with the Bank of America Travel Rewards card after spending $1,000 within the first 90 days are only worth $250. And even with the rewards rate boost from being a Bank of America Preferred Rewards member (more on that later), the welcome bonus would only be worth $437.50, which is still less than the Sapphire Preferred’s bonus.
Rewards rate winner
-
The Bank of America Travel Rewards card does offer a higher rate of 1.5X points on all regular spending compared to the Sapphire Preferred, and Preferred Rewards members can earn even more than that.
The Bank of America Preferred Rewards program allows cardholders who have over a certain amount of money in eligible Bank of America accounts to get special perks and rewards rates. Here’s the breakdown for each Preferred Rewards tier:
Preferred Rewards tiers Three-month average balance Credit card rewards boost Gold tier $20,000 to $49,999 25% Platinum tier $50,000 to $99,999 50% Platinum Honors tier $100,000 to $999,999 75% Diamond tier $1 million to $9.99 million 75% Diamond Honors tier $10 million and up 75% So if you were a Preferred Rewards Platinum Honors member or higher, you’d earn 2.62X points instead of just 1.5X, which is a significant boost in rewards. However, the savings threshold for a 75 percent boost is pretty high, and even with a boost like this, the Travel Rewards card has no bonus categories for customers to maximize.
On the other hand, the Chase Sapphire Preferred offers more rewards in several everyday categories. For example, Sapphire Preferred cardholders earn:
- 5X points on travel through Chase Ultimate Rewards (and on Lyft rides through March 2025)
- 3X points on dining (including eligible delivery services), select streaming services and online grocery purchases (excluding Walmart, Target and wholesale clubs)
- 2X points on general travel
- 1X points on everything else
These lucrative bonus categories can help the average family boost their rewards despite the lower rate of 1X points on non-bonus spending.
Intro APR winner
-
With the Bank of America Travel Rewards credit card, new customers are eligible for an introductory 0 percent APR on purchases and balance transfers for 15 billing cycles, followed by a 18.24% – 28.24% Variable APR on purchases and balance transfers.
This offer can be immensely helpful for consumers who want to pay down large purchases over time, as well as those who may need to carry a balance when cash is tight. Just remember that intro balance transfers for this card must be made in the first 60 days from account opening, and an intro balance transfer fee of 3 percent fee ($10 minimum) applies to all balance transfers. After 60 days, the balance transfer fee rises to 4 percent.
If you carry a balance on the Chase Sapphire Preferred, you’ll pay a 20.74% – 27.74% Variable APR right off the bat. Even on the lower end, the interest you’ll pay will cost significantly more than the value of the rewards you can earn with this card.
Annual fee winner
-
The Bank of America Travel Rewards credit card doesn’t charge an annual fee, so it wins in this category. With no annual fee to pay or keep track of, this Bank of America travel card is an easy option to keep for the long haul. In comparison, the Chase Sapphire Preferred charges a $95 annual fee, and it’s not waived the first year.
Foreign transaction fee winner
-
Neither card charges foreign transaction fees, so they’re both great candidates for spending while abroad or while making online purchases in a foreign currency.
Which card earns the most?
Now, for the interesting part: Which of these travel credit cards will net you the most in rewards? That really depends on how you use your card and which categories encompass most of your spending.
Our spending example shows how much an average family in the U.S. might earn with either card.
Bank of America Travel Rewards card vs. Chase Sapphire Preferred spending example
This example scenario shows the average rewards for a family of four with a man and woman under the age of 50 and two kids between the ages of 9 and 11. The average food spending for this family would work out to $1,365.50 per month (or $16,386 per year) on a moderate plan, according to the USDA.
Since we’re comparing cards for people who travel, let’s also estimate that this family spends $5,000 per year on airfare, hotels and other travel purchases, with half of it able to be booked through the Chase Travel portal. Let’s then add to that $300 per month ($3,600 per year) in restaurant purchases and $1,000 per month ($12,000 per year) on miscellaneous purchases. Here’s what this family would earn in a year:
| Points categories | Bank of America Travel Rewards card | Chase Sapphire Preferred Card |
|---|---|---|
| Groceries |
|
49,158 (when bought online) |
| Travel through Chase Travel | 12,500 | |
| General travel |
|
5,000 |
| Dining out |
|
10,800 |
| Additional purchases |
|
12,000 |
| Total points |
|
89,458 |
With the Bank of America Travel Rewards credit card, earnings would total 55,479 to 96,903 points per year, depending on the cardholder’s Preferred Rewards membership status. With the Chase Sapphire Preferred credit card, earnings would total 89,458 points. As you can see, the Chase Sapphire Preferred would net more points overall — but with some caveats.
Which card will suit your spending habits?
The Chase Sapphire preferred only has boosted rewards rates on grocery purchases if you make those purchases online, and its 5X rewards rate on travel only applies to purchases made through the Chase Travel portal. Without shopping online or using the Chase Travel portal, you’d get less points.
Also, the Bank of America Travel Rewards credit card could earn more if you’re at the Preferred Rewards Platinum Honors member tier or higher.
If you’re already a Bank of America loyalist and plan on keeping your Platinum Honors status or higher, then the Travel Rewards card might be better off for your budget. But if you’re not a Preferred Rewards member, you’ll likely get more mileage out of your Sapphire Preferred — especially given that their points are worth much more if you transfer them to a high-value travel partner.
Why should you get the Chase Sapphire Preferred?
The spending example above shows that the Chase Sapphire Preferred can help the average family earn more rewards on their spending, but there are other reasons to sign up for this card.
-
The Chase Sapphire Preferred offers quite a few cardholder benefits that may not be obvious unless you read the card agreement. Major perks include a $50 anniversary hotel credit through the Chase Travel portal, as well as DoorDash and Lyft benefits. Travel and purchase protections also include:
- Primary rental car coverage
- Trip cancellation and interruption insurance worth up to $10,000 per person and $20,000 per trip
- Baggage delay insurance
- Trip delay coverage
- Travel and emergency assistance services
- Purchase protection against damage or theft
- Extended warranties
-
Chase Ultimate Rewards points are some of the most flexible rewards on the market today. Cardholders can use their points for cash back, statement credits, gift cards and merchandise. You can also redeem Chase Ultimate Rewards points for 25 percent more value when booking travel through Chase Travel. Chase also lets you transfer your points to airline and hotel partners, like:
- British Airways
- Southwest Rapid Rewards
- United MileagePlus
- Marriott Bonvoy
- World of Hyatt
When you transfer your rewards to partners for premium redemptions, Chase points can be worth up to around 2 cents each, according to the latest valuations from Bankrate.
-
Chase refrains from listing specific credit score requirements for their roster of cards. However, you’ll need a good credit score or better to qualify, or a FICO score of 670 and higher. Your approval odds may be even higher if your credit score is above 740, which is considered “very good.”
Why should you get the Bank of America Travel Rewards card?
While the Chase Sapphire Preferred is hard to beat, there are some compelling reasons to choose the Bank of America Travel Rewards card instead — its lack of an annual fee among the biggest. Other reasons to sign up include a generous intro APR period and unique opportunities to boost your earnings.
-
The balance transfer and purchase introductory APR offer on this card is a benefit that has the potential to help consumers save hundreds (or even thousands) of dollars on interest.While the Travel Rewards credit card doesn’t come with the travel protections typically offered with cards in this category, it does come with other benefits unique to Bank of America. Those include:
- The Bank of America Preferred Rewards program. As previously stated, this program allows cardholders to earn 25 percent to 75 percent more points depending on their combined balance between eligible Bank of America or Merrill accounts.
- The BankAmeriDeals program. By activating your BankAmeriDeals offers, you can earn additional cash back with a rotating selection of retailers.
- The Museums on Us program. This program allows Bank of America cardholders to earn free entry to select cultural centers during the first week of every month.
-
The Bank of America Travel Rewards credit card lets you redeem points for statement credits to cover travel and dining purchases charged to your card. All you have to do is use your card to pay for eligible purchases. From there, you can use your points to erase all or part of the charges from your bill. Plus, Bank of America defines “travel” much more broadly than Chase does, so in addition to airfare and hotel purchases, you can use your points for purchases like:
- Timeshares
- Trailer parks, motorhomes and recreational vehicle rentals
- Campgrounds
- Car, truck, trailer and boat rentals
- Cruise lines
- Travel agencies, tour operators and real estate agents
- Passenger trains
- Buses
- Taxis, ferries and limousines
- Parking lots and garages
- Tolls and bridge fees
- Tourist attractions and amusement parks
- Art galleries and museums
- Carnivals and circuses
- Aquariums and zoos
The Travel Rewards card also lets you redeem your points for gift cards and cash back as a deposit into an eligible Bank of America or Merrill Money Management account.
-
Similar to Chase, Bank of America refrains from listing specific credit score requirements for credit cards, though you’ll likely need a good credit score or better to qualify.
The bottom line
The Chase Sapphire Preferred definitely has more to offer out of these two cards, yet the Bank of America Travel Rewards card’s lack of an annual fee and generous intro APR makes it a good option, too — especially if you already have a significant amount of money saved up in Bank of America accounts.
If you still can’t decide between these two cards, however, it never hurts to compare them to alternative travel credit cards from Chase, Bank of America and other major issuers.
Information about the Bank of America® Travel Rewards credit card was last updated on January 7, 2025.
Read the full article here
