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Christine Krzyszton×Christine Krzyszton Senior Finance Contributor Countries Visited: 98 U.S. States Visited: 45 Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, deta...Learn moreUpdated: February 6, 2024, 10:44am CST
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It’s no secret we’re fans of the Chase Sapphire Preferred® Card. With stellar earning potential, flexible redemption options, and a long list of travel and shopping protections and benefits, the card stands out as a fine choice, especially if you’re looking for your first travel rewards credit card.
It’s also no secret that we’re always on the lookout for other card options to which we can compare to the Chase Sapphire Preferred card that may challenge its position as one of our favorite picks.
The Bank of America® Travel Rewards Credit Card is generally a flat-rate earnings card but with a bonus-earning twist that caught our interest. We’ve chosen the card for our comparison today because, like the Chase Sapphire Preferred card, the card earns on every travel purchase and offers travel redemptions.
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We’re going to be covering details of the features and benefits of the Chase Sapphire Preferred card and Bank of America Travel Rewards card shortly.
But first, it might be helpful to offer a high-level comparison of our featured travel rewards credit cards in a quick side-by-side comparison.
Once you’re approved for the Chase Sapphire Preferred card or the Bank of America Travel Rewards card, you’ll have an immediate opportunity to earn a welcome bonus. Welcome bonuses are earned after meeting minimum spending requirements within the first few months of being a cardholder.
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You’ll want to take advantage of this unique opportunity to earn a large number of rewards in a short period of time. Welcome offers do change so reviewing the most current offer before applying for
Here are the current offers for our featured cards along with the information you’ll need to estimate the value of each offer:
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Earn 60, 000 bonus points after you spend $4, 000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
The Chase Sapphire Preferred® card is one of the best travel rewards cards on the market. Its bonus categories include travel, dining, online grocery purchases, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.
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Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance. With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.
The Bank of America Travel Rewards card is a great option for those who want an easy way to earn travel rewards without paying an annual fee.
Bank of America® Travel Rewards Credit CardThe Bank of America Travel Rewards card is a great option for those who want an easy way to earn travel rewards without paying an annual fee.
Chase Bank Jpmorgan Chase Bank Of America Credit Card, Bank Transparent Background Png Clipart
The Bank of America® Travel Rewards credit card is a great option for those looking to dip their toe into the world of travel rewards cards, without paying an annual fee.
Bottom Line: Both the Chase Sapphire Preferred card and Bank of America Travel Rewards card come with a welcome offer that can be earned by meeting minimum spending requirements within the first few months after card approval.
You’ll earn rewards on every travel purchase and be able to redeem rewards for travel with either of our featured cards. Image Credit: Faces of Travel via Adobe Stock
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Deciding which rewards card offers the best earnings for your situation involves determining your highest spending categories and matching those to the card that best rewards those expenses.
The Chase Sapphire Preferred card is the clear winner for earnings if you spend heavily on travel, dining, online groceries, and streaming services. However, if you have a current relationship with Bank of America, you’ll want to consider the earning potential of the Bank of America Travel Rewards card for elevated earning opportunities beyond the flat earnings rate of 1.5x points for all purchases.
The Bank of America Preferred Rewards program offers higher credit card rewards-earning rates for existing customers who hold assets with the bank. Here’s how the earnings can add up specifically for Bank of America Travel Rewards cardholders who have deposits currently with the financial institution:
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The Chase Sapphire Preferred card’s 10% annual points bonus is earned each card anniversary year and is equal to 10% of your total purchases. For example, if you spent $20, 000 on the card, you would receive 2, 000 bonus points.
Bottom Line: The Chase Sapphire Preferred card offers bonus earnings on travel, dining, online grocery stores, and select streaming services plus gives a 10% point bonus each card anniversary year. The Bank of America Travel Rewards card has a flat earnings rate of 1.5x points per dollar spent on all purchases and offers up to 75% more earnings for existing Bank of America customers who hold assets with the bank.
Redeeming rewards for travel is one of the most rewarding moments of holding a travel rewards credit card. Image Credit: Odua Images via Adobe Stock
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Not only do the Chase Sapphire Preferred card and Bank of America Travel Rewards card earn on every travel purchase, but you’ll also be able to redeem your rewards for travel at redemption time.
You’ll notice that redeeming rewards on the Bank of America Travel Rewards card results in a flat rate value of 1 cent per point with no opportunity for increased redemption value. The Chase Sapphire Preferred card offers more potential for greater value both when redeeming points via the Chase Ultimate Rewards travel portal (1.25 each) and when transferring to airline and hotel partners.
Additionally, the Chase Sapphire Preferred card allows you to redeem points for a statement credit for any purchase, while the Bank of America Travel Rewards card limits statement credit redemptions to travel and dining purchases.
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Bottom Line: The Chase Sapphire Preferred card offers flexible redemption options that can provide greater value for points earned on the card versus the Bank of America Travel Rewards card which offers just 1 cent per point in value for all redemption options.
Travel protections and benefits can provide peace of mind during your travels and also save you money. And, while these protections and benefits shouldn’t be the sole reason for securing any particular travel rewards card, the value added can be significant.
Here are the travel protections and benefits you’ll find on both the Chase Sapphire Preferred card and the Bank of America Travel Rewards card:
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Bottom Line: The Chase Sapphire Preferred card has long been a favorite for its collection of valuable travel protections and
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