Key takeaways
- Each the Financial institution of America® Premium Rewards® bank card and the Financial institution of America® Journey Rewards bank card supply versatile journey rewards factors, a base charge of 1.5X factors on common purchases, no overseas transaction charges and the next rewards potential in case you’re a member of the Financial institution of America Most popular Rewards program.
- The Financial institution of America Journey Rewards bank card features a welcome supply, an intro APR supply, versatile redemption choices and no annual payment.
- The Financial institution of America Premium Rewards bank card comes with a extra beneficiant welcome bonus and earns extra factors on common eating and journey purchases — though it does cost an annual payment.
Though not as in style as journey bank cards from different issuers, Financial institution of America boasts its personal journey rewards bank cards. Stand-out choices embody the Financial institution of America® Premium Rewards® bank card and the Financial institution of America® Journey Rewards bank card, each of which supply versatile journey rewards factors and a base charge of 1.5X factors on common purchases.
When you can’t resolve between these two playing cards, it’s good to match them based mostly on their full rewards charges, welcome provides and advantages. Learn on to find out how they stack up in a very powerful classes.
Fundamental particulars
| Playing cards | Financial institution of America® Premium Rewards® bank card | Financial institution of America® Journey Rewards bank card |
|---|---|---|
| Welcome bonus | Obtain 60,000 on-line bonus factors – a $600 worth – after you make at the least $4,000 in purchases within the first 90 days of account opening. | 25,000 on-line bonus factors after you make at the least $1,000 in purchases within the first 90 days of account opening – that may be a $250 assertion credit score towards journey purchases. |
| Rewards charge |
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| Intro APR supply | N/A | 0% Intro APR for 15 billing cycles for purchases |
| Annual payment | $95 | $0 |
Financial institution of America Journey Rewards vs. Financial institution of America Premium Rewards highlights
As you evaluate the Financial institution of America Premium Rewards bank card vs. the Financial institution of America Journey Rewards bank card, contemplate which one wins within the following essential classes.
Welcome bonus winner
Rewards charge winner
International transaction payment winner
Which card earns probably the most?
Whereas each of those rewards playing cards supply a flat 1.5X factors per greenback spent on common purchases, the Financial institution of America Premium Rewards bank card additionally provides 2X factors per greenback on journey and eating. In consequence, anybody who spends cash on eating and journey (that’s not bought via the Financial institution of America Journey Middle) will earn extra factors with this card general. Nonetheless, keep in mind that Financial institution of America Journey Rewards cardholders earn 3X factors on Financial institution of America Journey Middle purchases.
That stated, it’s possible you’ll be questioning how far more in rewards you might earn with the Financial institution of America Premium Rewards card and whether or not the additional rewards are definitely worth the $95 annual payment. The spending instance beneath may also help you resolve.
Spending instance
Let’s say you’ve gotten a household of 4 and that your loved ones spends about $1,350 monthly on meals (or $16,200 per 12 months) Along with meals spending, let’s say your loved ones additionally spends $300 monthly ($3,600 per 12 months) on eating out and $5,000 per 12 months on airfare and accommodations throughout two separate household holidays. Let’s additionally think about you spend $1,000 monthly ($12,000 per 12 months) on miscellaneous purchases.
With the Financial institution of America Premium Rewards bank card, you’d earn 59,500 factors (price $595 in rewards):
- 24,300 factors on groceries
- 7,200 factors on eating out
- 10,000 factors on journey (not via the Financial institution of America Journey Middle)
- 18,000 factors on miscellaneous purchases
With the Financial institution of America Journey Rewards bank card, however, you’d earn 55,200 factors (price $552 in rewards):
- 24,300 factors on groceries
- 5,400 factors on eating out
- 7,500 factors on journey (not via the Financial institution of America Journey Middle)
- 18,000 factors on miscellaneous purchases
Nonetheless, if you buy journey via the Financial institution of America Journey Middle, you’ll earn 3X factors on these purchases. Meaning you’ll as a substitute earn 15,000 factors on these journey purchases for a complete of 62,700 factors (price $627 in rewards) — which is greater than the Financial institution of America Premium Rewards bank card.
Take note, although, that the Financial institution of America Premium Rewards bank card provides the next welcome bonus of 60,000 factors (earned after spending $4,000 inside 90 days), which is price $600. That may add significantly extra to your first-year rewards haul than the Financial institution of America Journey Rewards, which provides 25,000 factors after spending $1,000 inside 90 days and comes within the type of a $250 assertion credit score.
Why do you have to get the Financial institution of America Premium Rewards bank card?
The Financial institution of America Premium Rewards bank card is usually a more sensible choice in case you don’t thoughts paying an annual payment. You’ll earn a extra beneficiant welcome bonus throughout the first few months and extra factors on all eating and journey purchases (not bought via the Financial institution of America Journey Middle).
Plus, this premium card additionally comes with extra cardholder perks general.
Why do you have to get the Financial institution of America Journey Rewards bank card?
When you’re averse to paying the annual payment for a bank card, the Financial institution of America Journey Rewards card is simple to like. Nonetheless, there are different causes to contemplate this journey card, together with its introductory APR provides and versatile journey redemption choices.
The underside line
Whereas the Financial institution of America Premium Rewards card is a greater match for individuals who need a extra beneficiant welcome supply and the next incomes charge, the Financial institution of America Journey Rewards card lets customers rack up versatile rewards with no annual payment. By taking the time to match these two prime rewards playing cards aspect by aspect, you’ll be able to resolve which Financial institution of America journey card is a greater match in your wants.
The details about the Financial institution of America® Premium Rewards® bank card and the Financial institution of America® Journey Rewards bank card was final up to date on Sept. 12, 2024.
