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Chase Sapphire Preferred Card vs. Bank of America Customized Cash Rewards Card [Detailed Comparison]

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Stephen Au
Updated: 
Edited by: Jessica Merritt
& Juan Ruiz
Chase Sapphire Preferred Card vs. Bank of America Customized Cash Rewards Card [Detailed Comparison]
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Key Takeaways

  • The Chase Sapphire Preferred® Card earns Ultimate Rewards points that can be transferred to airline and hotel partners, plus offers numerous travel benefits and protections.
  • The Bank of America® Customized Cash Rewards Credit Card provides cash-back, allowing cardholders to choose a 3% bonus category each month.
  • The Chase Sapphire Preferred card is recommended for travelers. The Bank of America Customized Cash Rewards card might be preferable if you are more interested in cash-back.

The Chase Sapphire Preferred® Card is undeniably one of the most popular travel rewards credit cards in the U.S. Chances are you know someone who has this credit card in his or her wallet, and you might even be considering replacing your ordinary credit card with this credit card.

Perhaps you’ve also heard of the Bank of America® Customized Cash Rewards Credit Card, another ubiquitous credit card with a slightly different appeal.

If you’ve heard of both of these cards and are deciding between the 2, you’re in the right place.

There’s a clear winner for most consumers, but we’ll walk you through the benefits and features of both cards in this guide. Let’s get right into it!

Overview

If you’re looking for the 30,000-foot view of these 2 cards and can’t set aside the time to look through the benefits and features in detail, we’ve put together an overview table below:

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Feature/Benefit

Chase Sapphire Preferred® CardBank of America® Customized Cash Rewards credit card

Welcome Offer

Earn 60,000 75,000 points after spending $5,000 on purchases in the first 3 months.

Earn $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

Earning Potential

  • 5x points on travel purchased through Chase Travel
  • 5x points on Lyft through September 30, 2027
  • 5x points on select Peloton purchases over $150 through December 31, 2027
  • 3x points on dining, online grocery, and select streaming purchases
  • 2x points on other travel purchases
  • 1x points on other purchases
  • 10% anniversary earning bonus after you renew your card every anniversary year based on the total dollar amount spent
  • 3% cash-back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings (your category can be changed each month)
  • 2% cash-back at grocery stores and wholesale clubs
  • 1% cash-back on other purchases
  • Preferred Rewards members earn 25% to 75% more rewards on every purchase, which can boost rewards up to 5.25% cash-back

Redemption Options

  • Transfers to airline and hotel partners, including United, Southwest, and Hyatt
  • Pay Yourself Back (up to 1.25 cents per point)
  • Chase travel portal bookings (boosted redemptions available)
  • Amazon.com purchases
  • Merchandise
  • Gift cards
  • Cash-back or statement credits
  • Statement credits
  • Checks ($25 minimum redemption)
  • Deposits made directly into a Bank of America checking or savings account
  • Credit for an eligible account with Merrill
  • Qualifying 529 contributions with Merrill 
  • Automatic redemptions into an eligible Bank of America or Merrill account starting at $25

Hotel and Rental Car Program Benefits

None

None

Statement Credits

  • $50 Ultimate Rewards hotel credit every year

None

Travel Benefits and Protections

  • Primary rental car insurance
  • Roadside assistance
  • Trip cancellation and interruption insurance
  • Baggage delay insurance
  • Lost luggage insurance
  • Trip delay reimbursement
  • Travel accident insurance
  • Travel and emergency assistance services
  • Secondary rental car insurance
  • Roadside assistance
  • Lost luggage insurance
  • Travel and emergency assistance services

Shopping Benefits and Protections

    • Complimentary DoorDash DashPass subscription for a minimum of 1 year when you activate by December 31, 2027
    • Purchase protection
    • Extended warranty
    • No foreign transaction fees

    No foreign transaction fees

    Annual Fees

    		$95$0

    Authorized Users

    Authorized users for no additional annual fees

    The Chase Sapphire Preferred card offers industry-leading rewards with rewards that can be used for redemptions, including transfers to airline and hotel partners.

    Meanwhile, the Bank of America Customized Cash Rewards card‘s points can only be used for cash-back or cash-like redemptions.

    Chase Ultimate Rewards points can be worth upwards of 5 to 10 cents each, which can ultimately translate to a return on spending of up to 25% to 50%, which is an enormous jump over the Bank of America Customized Cash Rewards card’s maximum redemption value of 5.25% cash-back (assuming you also have Preferred Rewards).

    However, when paired with Preferred Rewards on your eligible deposit or investment account, the Bank of America Customized Cash Rewards card could offer better cash-back rewards if you have no interest in travel. 

    Welcome Offers Compared

    The Chase Sapphire Preferred card is Chase’s flagship rewards credit card for the mid-market premium segment. Chase routinely offers terrific welcome bonuses when you’re approved for the Chase Sapphire Preferred card.

    Conservatively, these welcome bonuses are usually worth at least $750, though they may be worth much more than that, depending on the specific welcome bonus you can get.

    The Bank of America Customized Cash Rewards card offers a small welcome bonus, though nowhere near the value of the Chase Sapphire Preferred card’s bonus.

    However, the Bank of America Customized Cash Rewards card usually offers a 0% introductory APR on purchases and balance transfers, which can be helpful if you need to carry a balance or if you need to consolidate some high-interest debt you’ve racked up in the past.

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    Chase Sapphire Preferred® CardTerms Apply / Rates & Fees
    Chase Sapphire Preferred® Card
    Star rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating icon
    U.P. Rating 
    The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

    A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.

    Apply Now(at Chase's secure site)
    Chase Sapphire Preferred® Card
    A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.
    Earn 60,000 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
    60,000 75,000 points
    $1,500
    $95
    19.74% - 27.99% Variable
    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 card application.
    Good to Excellent
    Why We Like This Card

    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.

    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.

    Pros & Cons
    Pros
    • 5x points on all travel booked via the Chase Travel portal
    • 3x points on dining purchases, online grocery purchases, and select streaming services
    • 2x points on all other travel worldwide
    Cons
    • $95 annual fee
    • No elite benefits like airport lounge access or hotel elite status
    Read Full Review
    Card Highlights
    • Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
    • Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases
    • Earn up to $50 in statement credits each account anniversary year for hotel stays through Chase Travel℠
    • 10% anniversary points boost - each account anniversary you'll earn bonus points equal to 10% of your total purchases made the previous year.
    • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
    • Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
    • Member FDIC
    Financial Snapshot
    • APR: 19.74% - 27.99% Variable
    • Foreign Transaction Fees: None
    Rewards Center

    Chase Ultimate Rewards

    Bank of America® Customized Cash Rewards credit card
    Bank of America® Customized Cash Rewards credit card
    Star rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating icon
    U.P. Rating 
    The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

    The Bank of America Customized Cash Rewards card allows you to maximize your cash-back in your choice category each month.

    Bank of America® Customized Cash Rewards credit card
    The Bank of America Customized Cash Rewards card allows you to maximize your cash-back in your choice category each month.
    Earn $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
    $200
    $0
    0% Intro APR for 15 billing cycles for purchases and balance transfers. Variable rate of 17.99% to 27.99% applies thereafter.
    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 card application.
    Good to Excellent (670-850)
    Why We Like This Card

    If you’re looking to the rake in the cash-back rewards, then the Bank of America® Customized Cash Rewards Credit Card is a great option. Not only do you get to choose the 3% category for the card, but you can also boost the cash-back you earn by being a member of the Bank of America Preferred Rewards program.

    Pros & Cons
    Pros
    • 3% cash-back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings (your category can be changed each month)
    • 2% cash-back at grocery stores and wholesale clubs
    • 1% cash-back on all other purchases
    Cons
    • 3% and 2% cash-back categories are limited to the first $2,500 in combined purchases each quarter, then you’ll earn 1%
    • Charges a foreign transaction fee
    Read Full Review
    Card Highlights
    • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
    • Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined quarterly purchases) and unlimited 1% on all other purchases.
    • If you’re a Preferred Rewards member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.
    • No annual fee and no expiration on rewards.
    • 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 17.99% to 27.99% Variable APR will apply. A 3% fee applies to all balance transfers in the first 60 days your account is open. After the intro balance transfer fee offer ends, the fee for all future balance transfers is 4%.
    • Contactless Cards – The security of a chip card, with the convenience of a tap.
    • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
    Financial Snapshot
    • APR: 0% Intro APR for 15 billing cycles for purchases and balance transfers. Variable rate of 17.99% to 27.99% applies thereafter.
    • Foreign Transaction Fees: 3%

    The Value of a Welcome Offer

    Welcome offers are one of the easiest, quickest ways to rack up many points quickly. In many cases, the welcome offer alone can pay for years’ worth of annual fees, even if you redeem your points at a relatively low value.

    For example, a welcome bonus of 60,000 Ultimate Rewards points from the Chase Sapphire Preferred card can be redeemed for up to $1,050 on select purchases through the Chase travel portal thanks to the up to 75% redemption bonus options that get you a redemption value of 1.75 cents per point.

    The Bank of America Customized Cash Rewards card has no annual fee, so any welcome offer will translate to extra dollars back in your pocket without any costs.

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    Earning Potential

    SCROLL FOR MORE

    Earning Category

    Chase Sapphire Preferred Card

    Bank of America Customized Cash Rewards Card

    Lyft (through September 30, 2027)

    5x points

    1% cash-back

    Select Peloton Purchases Over $150 (Through December 31, 2027)

    5x points

    1% cash-back

    Travel Purchased Through Chase Travel

    5x points

    N/A

    Dining

    3x points

    1% cash-back

    Select Streaming Purchases

    3x points

    1% cash-back

    Online Grocery Purchases

    3x points

    2% cash-back

    Other Travel

    2x points

    1% cash-back

    Category of Your Choice (Gas, Online Shopping, Dining, Travel, Drug Stores, or Home Improvement/Furnishings)

    N/A

    3% cash-back

    Other Grocery Store Purchases

    1x points

    2% cash-back

    Wholesale Club Purchases

    1x points

    2% cash-back

    Other Purchases

    1x points

    1% cash-back

    Chase Sapphire Preferred Card — 10% Anniversary Earning Bonus

    Another unique benefit of the Chase Sapphire Preferred card is the 10% anniversary earning bonus, which gives you a bonus after you renew your card every anniversary year based on the total dollar amount spent.

    So if you spend $100,000 in a given year, you’ll receive an anniversary bonus of 10,000 points.

    Bottom Line:

    If you plan on using your points for travel, the Chase Sapphire Preferred card probably rewards you more in the long run. If you are focused on fixed-value rewards, the Bank of America Customized Cash Rewards card could offer a better return on your spending, assuming you spend a lot outside of dining and travel.

    Redemption Options

    British Airways first class
    Using Chase Ultimate Rewards points, luxury experiences like British Airways first class are a reality! Image Credit: British Airways

    The Chase Sapphire Preferred card earns Ultimate Rewards points, which are transferrable rewards points, while the Bank of America Customized Cash Rewards card earns fixed-value points.

    Here’s a breakdown of how each type of point can be used:

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    Redemption Option

    Chase Sapphire Preferred Card — Ultimate Rewards Points

    Bank of America Customized Cash Rewards Card — Cash-Back

    Transfer to Airline and Hotel Partners

    Yes

    No

    Travel Booked Through Bank’s Travel Portal

    Yes (access to redemption bonuses)

    No

    Amazon.com Purchases

    Yes

    No

    Gift Cards

    Yes

    No

    Merchandise

    Yes

    No

    Cash-back or Cash-Back or Statement Credits

    Yes

    Yes

    Deposits Made Directly Into a Bank of America Checking or Savings Account

    N/A

    Yes

    Credit for an Eligible Account With Merrill

    N/A

    Yes

    Qualifying 529 Contributions With Merrill

    N/A

    Yes

    Automatic Redemptions Into an Eligible Bank of America or Merrill Account Starting at $25

    N/A

    Yes

    The Chase Sapphire Preferred card’s Ultimate Rewards points are much more effective for booking award travel. In contrast, the Bank of America Customized Cash Rewards card’s rewards are straightforward cash-back.

    Ultimate Rewards points are so incredibly valuable because you can transfer points to partners including World of Hyatt, Singapore Airlines KrisFlyer, and The British Airways Club to book luxury award travel!

    Hot Tip:

    Transferring points to travel partners can be incredibly useful. For example, if you want to book a stay at the Hyatt Regency Grand Reserve Puerto Rico costing $600 per night, you might be better off transferring around 15,000 Chase Ultimate Rewards points per night to World of Hyatt to book this stay, netting you a redemption value of 4 cents per point.

    Statement Credits

    The Chase Sapphire Preferred card offers:

    The Bank of America Customized Cash Rewards card offers no statement credits.

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    Hotel Program Benefits

    The Chase Sapphire Preferred card and the Bank of America Customized Cash Rewards card do not offer hotel benefits.

    Travel Insurance and Protections

    Passengers waiting at baggage claim carousel
    Image Credit: CasanoWa Stutio via Adobe Stock

    Car Rental Loss and Damage Insurance

    The Chase Sapphire Preferred card offers excellent primary rental car coverage, which can take effect when you decline the car rental company’s loss damage or collision damage waiver (LDW/CDW) and pay for your rental car reservation using your card.

    The Bank of America Customized Cash Rewards card is a Visa Signature card, which confers secondary rental car insurance. You’ll need to file a claim with your insurance before your card’s insurance takes effect.

    Roadside Assistance

    Although roadside assistance is an increasingly rare benefit, both cards offer roadside dispatch for a flat service call fee. Each service call includes:

    • Fuel delivery (up to 5 gallons, the cost of fuel is not included)
    • Jump starting (battery boost)
    • Lockout service (key replacement is not included)
    • Tire changing (must have a good, inflated spare)
    • Towing (up to 5 miles)
    • Winching (within 100 feet of paved or county-maintained roads only)

    Trip Interruption and Cancellation Insurance

    The Chase Sapphire Preferred card offers impressive trip interruption and cancellation insurance, which allows you to get reimbursed for up to $10,000 per claim and up to $20,000 per trip for prepaid, nonrefundable expenses lost due to covered interruptions and cancellations, including eligible illness, weather, or covered incidents. You can also get up to $40,000 in reimbursements every rolling 12 months.

    The Bank of America Customized Cash Rewards card doesn’t offer this coverage.

    Trip Delay Reimbursement

    One of the most useful benefits we love about the Chase Sapphire Preferred card is the trip delay reimbursement. On covered delays of more than 12 hours, or on delays that require an overnight stay, you can get up to $500 in reimbursements with a maximum of 1 approved claim per trip.

    The Bank of America Customized Cash Rewards card doesn’t offer trip delay reimbursement.

    Lost and Delayed Luggage Insurance

    The Chase Sapphire Preferred card offers coverage for lost luggage and delayed luggage. You can get up to $3,000 per person in lost luggage reimbursements and $100 per day for up to 5 consecutive days in delayed luggage reimbursement for covered delays over 6 hours.

    The Bank of America Customized Cash Rewards card offers the same lost luggage reimbursement but does not offer delayed luggage coverage.

    Travel Accident Insurance

    The Chase Sapphire Preferred card boasts up to $500,000 in travel accident insurance when you pay for your common carrier ticket using your card.

    The Bank of America Customized Cash Rewards card doesn’t have this perk.

    Travel and Emergency Assistance Services

    With both the Chase Sapphire Preferred card and Bank of America Customized Cash Rewards card, you will have access to select travel and emergency assistance services while traveling. Remember that assistance includes referrals only, and all costs are strictly your financial responsibility.

    Here are the included services:

    • Emergency message service
    • Emergency ticket replacement
    • Emergency translation service
    • Emergency transportation assistance
    • Legal referral assistance
    • Lost luggage locator service
    • Medical referral assistance
    • Pre-trip assistance
    • Prescription assistance
    • Valuable document delivery arrangements

    Shopping Benefits

    Clothing rack
    Image Credit: S O C I A L . C U T via Unsplash

    DoorDash

    Another benefit we love about the Chase Sapphire Preferred card is the complimentary DoorDash DashPass subscription for at least 1 year when you activate by December 31, 2027.

    The Bank of America Customized Cash Rewards card has no DoorDash benefits.

    Shopping Protection Perks

    Purchase Protection

    The Chase Sapphire Preferred card offers a generous purchase protection policy if items you buy are damaged or stolen up to 120 days past the date of purchase. You can cover up to $500 per item and up to $50,000 in total reimbursements per calendar year.

    The Bank of America Customized Cash Rewards card doesn’t have purchase protection.

    Extended Warranty

    The Chase Sapphire Preferred card offers 1 additional year of warranty on eligible original manufacturer’s warranties of 3 years or less — when a claim is filed, you can get up to $10,000 in reimbursements per item and up to $50,000 in total reimbursements per calendar year.

    The Bank of America Customized Cash Rewards card doesn’t offer an extended warranty.

    Fees and Adding Authorized Users

    Annual Fees

    The Chase Sapphire Preferred card has an annual fee of $95 while the Bank of America Customized Cash Rewards card has an annual fee of $0.

    Adding Authorized Users

    There are no additional annual fees to add authorized users to either card.

    No Foreign Transaction Fees

    The Chase Sapphire Preferred card and Bank of America Customized Cash Rewards card have no foreign transaction fees.

    Final Thoughts

    The Chase Sapphire Preferred card is one of the most popular rewards credit cards on the market and for a good reason.

    For a reasonable annual fee, you can access an award-winning points system in Ultimate Rewards, excellent rewards structures on dining, travel, and more, as well as travel benefits and protections that rival even ultra-premium credit cards.

    Meanwhile, the Bank of America Customized Cash Rewards card is an unfussy cash-back credit card. You can maximize this card’s potential by participating in Bank of America Preferred Rewards, which earns you bonus rewards points depending on your total investment and deposit balances with Bank of America, Merrill Edge, or Merrill Lynch.

    We recommend the Chase Sapphire Preferred card to the vast majority of consumers. We only recommend the Bank of America Customized Cash Rewards card if you’re a cash-back fiend or if a $95 annual fee is more than you want to pay.

    Featured Image Credit: KaLisa Veer via Unsplash

    Frequently Asked Questions

    Is the Chase Sapphire Preferred card good for international travel?

    The Chase Sapphire Preferred card is an excellent card for international travel. This is probably the best starter card for travel rewards thanks to its abundant rewards categories, no foreign transaction fees, and strong travel protections.

    What is the advantage of a Bank of America Customized Cash Rewards card?

    The Bank of America Customized Cash Rewards card focuses on cash-back rewards on all purchases and is great because it has an annual fee of $0.

     

    Is it hard to get a Bank of America Customized Cash Rewards card?

    The Bank of America Customized Cash Rewards card generally appeals to those with great credit who can pay their bills in full and on time. We recommend you have a credit score of at least 760 before applying for this card.

     

    How does Chase compare to Bank of America?

    In general, Bank of America tends to focus on fixed-value rewards while Chase tends to focus on its proprietary Chase Ultimate Rewards system where you can potentially get so much more value from your points. There’s no right or wrong answer, but Bank of America errs on the side of simplicity while Chase errs on the side of catering to savvy travelers with goals to extract as much value from their credit card spending as possible.

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    About Stephen Au

    Stephen is an established voice in the credit card space, with over 70 to his name. His work has been in publications like The Washington Post, and his Au Points and Awards Consulting Services is used by hundreds of clients.

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    Bank of America Travel Rewards Credit Card – Full Review [2025]
    Bank of America Travel Rewards Credit Card – Full Review [2025]

    Upgrade your travel experience

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