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Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. SHARE: PIKSEL/Getty Images April 11, 2022 Checkmark Bankrate logo How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. "Expert verified" means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. Holly Johnson writes expert content on personal finance, credit cards, loyalty and insurance topics. In addition to writing for Bankrate and CreditCards.com, Johnson does ongoing work for clients that include CNN, Forbes Advisor, LendingTree, Time Magazine and more. Claire Dickey is a product editor for Bankrate, and . Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Cathleen's stories on design, travel and business have appeared in dozens of publications including the Washington Post, Town & Country, Wall Street Journal, Marie Claire, Fodor’s Travel, Departures and The Writer. Bankrate logo The Bankrate promise
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At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence. Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to: Meet you wherever you are in your credit card journey to guide your information search and help you understand your options. Consistently provide up-to-date, reliable market information so you're well-equipped to make confident decisions. Reduce industry jargon so you get the clearest form of information possible, so you can make the right decision for you. At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next. Bankrate logo Editorial integrity
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. If you’re trying to decide between the and the , you have quite a bit to think about. For example, you should spend some time pondering your regular 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 60,000 bonus points after you spend $4,000 on purchases within three months of account opening 25,000 bonus points after spending $1,000 on purchases within 90 days of account opening Rewards rate 3X points on dining (including eligible delivery services), select streaming services and online grocery purchases (excluding Walmart, Target and wholesale clubs); 5X points on travel booked through Chase Ultimate Rewards and Lyft Rides (Lyft offer through March 2025); 2X points on other travel purchases; 1X points on everything else Unlimited 1.5X points on all purchases Intro APR 18.99% to 25.99% 0% intro APR on purchases and balance transfers for 18 billing cycles (16.99% to 26.99% variable APR after) Annual fee $95 $0 Redemption options Redeem points for: Cash back Statement credits Gift cards Merchandise Travel through the Ultimate Rewards portal (for 25 percent more value) Point transfers to Chase airline and hotel partners Redeem points for: Statement credits to cover travel and dining purchases 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 Chase Sapphire Preferred
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 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. Rewards rate winner Chase Sapphire Preferred
The Bank of America Travel Rewards card does offer a higher rate of 1.5X points on all regular spending, but there are no bonus categories for customers to maximize. On the flipside, 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 and 1X points on everything else. As you’ll see in the spending example below, these lucrative bonus categories can help the average family boost their rewards despite the lower rate of 1X points on non-bonus spending. Annual Fee winner Bank of America Travel Rewards card
The Bank of America Travel Rewards credit card does not 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 that is not waived the first year. Intro APR winner Bank of America Travel Rewards card
With the , new customers are eligible for an introductory 0 percent APR on purchases and balance transfers for 18 billing cycles, followed by a variable APR of 16.99 percent to 26.99 percent. 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 must be made in the first 60 days and a 3% fee (min $10) applies to all balance transfers. If you carry a balance on the Chase Sapphire Preferred, you’ll pay a variable APR of 18.99 percent to 25.99 percent 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. Redemption options winner Chase Sapphire Preferred
The Bank of America Travel Rewards card lets you redeem your points to cover travel or dining purchases charged to your card, which is definitely a plus. However, the Chase Sapphire Preferred comes with the same option, plus several others. In fact, you can redeem Chase Ultimate Rewards points for gift cards, merchandise or for 25 percent more value when booking travel through the Ultimate Rewards portal. You can also transfer your Chase points to , like British Airways, Southwest Rapid Rewards, United MileagePlus, Marriott Bonvoy and World of Hyatt. And when you transfer your rewards to partners for premium redemptions, Chase points can be worth up to 2 cents each, according to . 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 the categories you spend the most in. Our spending example below shows how much the average family 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 two adults under the age of 50 and two kids. According to the , the average food spending for this family would work out to $1,239.50 per month (or $14,874 per year) on a moderate plan. 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 Ultimate Rewards portal. Add onto that $300 per month ($3,600 per year) in restaurant purchases and $1,000 per month ($12,000 per year) on miscellaneous purchases. With the Chase Sapphire Preferred, this family would earn 84,922 points within a year: 44,622 points on groceries (if they used eligible online grocery delivery services) 12,500 points on travel booked through the Ultimate Rewards portal 5,000 points on general travel 10,800 points on dining out 12,000 points on all other purchases With the Bank of America Travel Rewards credit card, this family would earn 53,211 points within a year: 22,311 points on groceries 7,500 points on travel 5,400 points on dining out 18,000 points on all other purchases Why should you get the Chase Sapphire Preferred
The spending example above shows that the can help the average family earn more rewards on their spending, but there are other reasons to sign up for this card. Additional benefits
The Chase Sapphire Preferred offers quite a few cardholder benefits that may not be obvious unless you read over the cardholder terms and conditions. Major perks include a $50 anniversary hotel credit through the Ultimate Rewards portal, DoorDash and Lyft benefits and no foreign transaction fees. Travel and purchase protections 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 and extended warranties. Redemption options
As already mentioned, 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, merchandise, travel through the Ultimate Rewards portal or for transfers to airline and hotel partners. Recommended credit score
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 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 instead—and the biggest one is its lack of an annual fee. Other reasons to sign up are highlighted below. Additional benefits
The introductory APR offer on this card has the potential to help consumers save hundreds (or even thousands) of dollars on interest. With a 0 percent intro APR on purchases for 18 billing cycles (16.99 percent to 26.99 percent variable APR thereafter), consumers can make large purchases and pay them down interest-free for more than a year. Also, be aware that members of the program can earn 25 percent to 75 percent more points for each dollar they spend. At the high end, that means program members with this card could earn 2.62X points on all their purchases. If you have a considerable amount of money on deposit with Bank of America already, you should look into this program right away. Redemption options
The Bank of America Travel Rewards credit card lets you redeem points for 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. Since each point is worth 1 cent each, this card’s 25,000 online bonus offer (earned after spending $1,000 within the first 90 days) is worth $250 in travel or restaurant purchases. Recommended credit score
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 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. If you still can’t decide between these two cards, however, it never hurts to compare them to alternative from Chase, Bank of America and other major issuers. Information about the Bank of America Travel Rewards credit card was last updated on October 3, 2022. SHARE: Holly Johnson writes expert content on personal finance, credit cards, loyalty and insurance topics. In addition to writing for Bankrate and CreditCards.com, Johnson does ongoing work for clients that include CNN, Forbes Advisor, LendingTree, Time Magazine and more. Claire Dickey is a product editor for Bankrate, and . Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Cathleen's stories on design, travel and business have appeared in dozens of publications including the Washington Post, Town & Country, Wall Street Journal, Marie Claire, Fodor’s Travel, Departures and The Writer. Related Articles