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

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Christine Krzyszton
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Christine Krzyszton

Senior Finance Contributor

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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...
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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.

Let’s look closer at both cards for greater insight into why you’d want to choose one over the other.

Chase Sapphire Preferred Card vs. Bank of America Travel Rewards Card — Overview

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.

Here’s how the cards compare in all the key areas:

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Feature or Benefit Chase Sapphire Preferred® CardBank of America® Travel Rewards Credit Card
Welcome Offer Earn 60,000 points after spending $4,000 on purchases in the first 3 months.Earn 25,000 points after you make at least $1,000 in purchases in the first 90 days of account opening.
Earning Potential
  • 5x points per dollar spent on travel via the Chase Travel portal
  • 5x on Lyft purchases (through March 31, 2025)
  • 3x points on dining
  • 2x points on all other travel
  • 1x points on all other purchases
  • 10% bonus points each card anniversary year for total purchases
  • 1.5x points per dollar spent on all purchases
  • Additional 25% to 75% earnings for Preferred Rewards members, up to 2.62x points per dollar spent
Redemption Options
  • Redeem points for travel for 1.25 cents each via the Chase Travel portal
  • Transfer points to airline and hotel partners to purchase award flights or free hotel nights
  • Statement credits, check, direct deposit, gift cards, shopping with select retailers, charitable deductions
Statement credits for travel and dining purchases at a value of 1 cent each per point
Travel Protections and Benefits
  • Primary car rental insurance
  • Trip cancellation, trip interruption, and trip delay coverage
  • Baggage insurance
  • Travel and emergency assistance services
  • $50 annual hotel credit when booked via Chase Travel
  • No foreign transaction fees

 

  • Basic Visa Signature benefits
  • No foreign transaction fees
  • Museums on Us program
Shopping Protections and Benefits
  • Purchase protection, extended warranty
  • DoorDash DashPass
  • Instacart+ credit
  • Chase Offers
  • Shop through Chase
  • Extended warranty
  • BankAmeriDeals
Annual Fee and Authorized Users
  • Annual fee of $95
  • No charge to add authorized users
  • Annual fee of $0
  • No charge to add authorized users

The Value of a Welcome Offer

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.

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 any card is always recommended.

Here are the current offers for our featured cards along with the information you’ll need to estimate the value of each offer:

POPULAR FIRST CARD
Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

U.P. Rating
The rating for this card has been determined by our own industry experts who know the in's and out's 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 huge welcome offer, good benefits, and perks for a moderate annual fee.

Learn More(at Chase's secure site)

Chase Sapphire Preferred® Card

A fantastic travel card with a huge welcome offer, good benefits, and perks for a moderate annual fee.
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®.
60,000 points
$1,200
$95
21.49%-28.49% 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 cardapplication.
Good to Excellent (670-850)

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

  • 5x points on all travel booked via the Chase Travel portal
  • 5x points on select Peloton purchases over $150 (through March 31, 2025)
  • 5x points on Lyft purchases (through March 31, 2025)
  • 3x points on dining purchases, online grocery purchases, and select streaming services
  • 2x points on all other travel worldwide
  • $50 annual credit on hotel stays booked through the Chase Travel portal
  • 6 months of complimentary Instacart+ (activate by July 31, 2024), plus up to $15 in statement credits each quarter through July 2024
  • Excellent travel and car rental insurance
  • 10% annual bonus points
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs like United MileagePlus and World of Hyatt

Cons

  • $95 annual fee
  • No elite benefits like airport lounge access or hotel elite status
  • 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 Travel℠.
  • 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, $50 Annual Chase Travel Hotel Credit, plus more.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
  • Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
  • Member FDIC

Financial Snapshot

  • APR: 21.49%-28.49% Variable
  • Foreign Transaction Fees: None

Card Categories

Rewards Center

Chase Ultimate Rewards

Bank of America® Travel Rewards Credit Card

Bank of America® Travel Rewards Credit Card

U.P. Rating
The rating for this card has been determined by our own industry experts who know the in's and out's 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 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 Card

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.
Earn 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening.
25,000 points
$250
$0
0% Introductory APR for 15 billing cycles for purchases. After the intro APR offer ends, 18.24% - 28.24% variable will apply.
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.
Good to Excellent (670-850)

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.

The card makes earning points and redeeming them for travel super easy for cardholders.

Pros

  • 1.5x points per $1 you spend on all purchases
  • No annual fee
  • No foreign transaction fees
  • Boost your rewards rate with the Bank of America Preferred Rewards program

Cons

  • Points are worth a fixed 1 cent per point, so it isn’t possible to get outsized redemptions
  • Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don’t expire.
  • 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening –  that can be a $250 statement credit toward travel purchases.
  • Use your card to book your trip how and where you want – you’re not limited to specific websites with blackout dates or restrictions.
  • Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
  • 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, 18.24% – 28.24% Variable APR will apply. A 3% fee applies to all balance transfers made within the first 60 days, and a 4% fee applies thereafter.
  • If you’re a Preferred Rewards member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
  • 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% Introductory APR for 15 billing cycles for purchases. After the intro APR offer ends, 18.24% - 28.24% variable will apply.
  • Foreign Transaction Fees: None

Card Categories

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. 

Earning Potential

Couple laughing on vacation
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

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.

While earnings are just one key factor in finding the right card, it’s an important one.

Here’s how the Chase Sapphire Preferred card and Bank of America Travel Rewards card compare when we look at earnings:

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Earning CategoryChase Sapphire Preferred CardBank of America Travel Rewards Card
Travel
  • 5x points per dollar spent on travel via the Chase Travel portal
  • 5x points on Lyft rides, through March 31, 2025
  • 2x points on all other travel
1.5x points per dollar spent
Dining, Online Grocery Purchases, Select Streaming Services3x points1.5x points
All Other Purchases1x points1.5x points
Additional Earnings10% annual points bonus based on total purchases each account anniversary yearPreferred Rewards Members earn an additional 25% to 75% points, up to 2.62x points per dollar spent

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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No Preferred Rewards StatusGold ($20,000 to $49,999 in assets)Platinum ($50,000 to $99,999)Platinum Honors ($100,000 to $999,999)Diamond ($1,000,000 to $9,999,999)Diamond Honors ($10,000,000+)
1.5x points per dollar spent1.875x points2.25x points2.62x points2.62x points2.62x points

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. 

Redemption Options

A mother packs a suitcase on the bed. Her baby is on their tummy, also on the bed, smiling at the camera.
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

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.

Let’s look closer at how your rewards can be turned into vacations, and more, with each of the cards.

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Redemption OptionChase Sapphire Preferred CardBank of America Travel Rewards Card
Travel
  • Redeem points for travel via the Chase Travel portal for 1.25 cents each
  • Transfer points to airline or hotel partners to purchase award flights or free hotel nights for even greater potential value
  • Redeem points as a statement credit for 1 cent each to offset previous travel purchases
  • Pay Yourself Back for select charitable donations at a value of 1.25 cents per point
Redeem points for 1 cent each for a statement credit for previous travel purchases
Additional Redemption OptionsStatement credits, direct deposit, a check, gift cards, shopping with select retailers, charitable donationRedeem points for 1 cent each for a statement credit for dining purchases, redeem for gift cards

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 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.

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

Family travel girl in trunk
Don’t leave home without checking your card for travel protections and benefits. Image Credit: HTeam via Shutterstock

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:

  • No Foreign Transaction Fees — Both of our featured cards travel well as neither card charges foreign transaction fees, a savings of 3%.

Chase Sapphire Preferred Card

  • Primary Car Rental Insurance — Pay for your entire car rental with your card, decline the rental agency’s CDW/LDW coverage, and receive primary coverage for damage and theft. Primary coverage means that you do not first have to file a claim with any other applicable insurance before card coverage applies.
  • Trip Cancellation, Trip Interruption, and Trip Delay — You could receive up to $10,000 per covered person, a total of $20,000 per trip, if your trip needs to be canceled or is disrupted for a covered reason. If your trip is delayed more than 12 hours, or overnight, you could receive up to $500 per trip in eligible expense reimbursement, with a limit of 1 claim per year.
  • Baggage Insurance — Lost or stolen luggage is eligible for coverage, up to $3,000 per covered person, per trip, with a limit of $500 for high-risk items. If your bags are delayed more than 6 hours, you could receive up to $100 per day for up to 5 days for eligible incidentals and lodging.
  • Travel and Emergency Assistance Services — When traveling, you’ll have access 24/7 with 1 call for services such as medical/legal referrals, translation services, arranging emergency transportation, assistance with a lost passport or luggage, and more. Cardholders are responsible for the cost of actual services received.
  • Annual Hotel Credit — Book your hotel via the Chase Travel portal and receive a $50 statement credit each year.

Bank of America Travel Rewards Card

The Bank of America Travel Rewards card does not offer significant travel protections or benefits:

  • Visa Signature Benefits — You can expect to find a few basic travel protections on the card such as roadside dispatch, lost luggage, Visa Concierge, and Travel and Emergency Assistance. Check the card’s Guide to Benefits for actual coverage descriptions, terms, and conditions.
  • Museums on Us — Simply present your Bank of America Travel Rewards card and your ID on the first weekend of every month to over 225 cultural institutions for free admission.

Bottom Line: The Chase Sapphire Preferred card has long been a favorite for its collection of valuable travel protections and benefits, especially its primary car rental insurance. The Bank of America Travel Rewards card does not offer this coverage. 

Shopping Protections and Benefits

The Chase Sapphire Preferred card and Bank of America Travel Rewards card come with protections and benefits that offer coverage for eligible items purchased with your card and economic value for purchases made with specific retailers and service providers.

Chase Sapphire Preferred Card

  • Purchase Protection — Purchase an eligible item with your card and receive coverage for damage and theft for 120 days from the purchase date. Coverage is limited to $500 per item and $50,000 per card account.
  • Extended Warranty — Eligible items with manufacturer’s warranties of 1 year or less, purchased with your card, will receive 1 additional warranty year.
  • DoorDash DashPass — Receive a complimentary 1-year membership that includes free delivery and reduced fees. Activate your membership by December 31, 2024.
  • Instacart+ Benefits — Receive a complimentary 6-month membership and up to $15 each quarter in statement credits. Activate by July 31, 2024.
  • Chase Offers — Earn a little extra cash-back on your card purchases with Chase Offers. Log in to your online card account and select offers from retailers and service providers. You’ll receive a statement credit after your qualifying purchase.
  • Shop through Chase — Don’t make an online purchase without checking the Chase shopping portal for offers that will earn you additional rewards by shopping with your favorite retailers.

Bank of America Travel Rewards Card

  • Extended Warranty — Manufacturer’s warranties of 3 years or less will be doubled up to a total of 1 additional year.
  • Introductory 0% APR on Purchases — If you have a large purchase(s) coming up and want to repay the charges back over time, the card offers 0% intro APR for 15 billing cycles for purchases, and for any balance transfers; variable rate of 18.24% - 28.24% applies thereafter.
  • BankAmeriDeals — Log in to your online or mobile card account and add offers from a select group of merchants to earn statement credits on your purchases.

Bottom Line: Both the Chase Sapphire Preferred card and Bank of America Travel Rewards card come with shopping protections and benefits that can save you money and help you earn additional rewards for eligible purchases. The Chase Sapphire Preferred card offers more statement credits, including those for Instacart+, which can help offset the annual fee. 

Annual Fees and Authorized Users

The Chase Sapphire Preferred card charges a modest annual fee of $95 while the Bank of America Travel Rewards card has a $0 annual fee.

There is no charge to add authorized users to either card.

Additional Benefits and Information

You will need a good to excellent credit score, generally considered 670 to 850, to be approved for either the Chase Sapphire Preferred card or the Bank of America Travel Rewards card.

As mentioned above, the Bank of America Travel Rewards card comes with 0% intro APR for 15 billing cycles for purchases, and for any balance transfers; variable rate of 18.24% - 28.24% applies thereafter.

If you have high-interest credit cards and would like to repay your balances over time without incurring interest charges, taking advantage of this offer could save you money. This offer applies to balance transfers made within the first 60 days after card approval.

Chase has an unwritten 5/24 rule you should review before you apply for any credit card, not just Chase cards. Bank of America has a 2/3/4 rule which means you can apply for just 2 cards within a 2-month period, 3 cards within a 12-month period, and 4 cards within a 24-month period. Read more about these rules and additional bank requirements for credit card applications in our article on the topic.

Final Thoughts

The Chase Sapphire Preferred card stands out as the better overall travel rewards card. With elevated earnings on several key bonus categories, flexible redemption options that provide higher potential value, and a long list of travel benefits, the card is an excellent choice. The card does charge an annual fee but if you use even a portion of the available statement credits, you’ll easily offset that amount.

If you’re a Bank of America current customer, there is a case for considering the Bank of America Travel Rewards card, especially if you have enough deposits with the bank to qualify for earning the maximum 2.62x points per dollar spent on the card. The 2.62x would apply to all of your spending not just specific categories. The biggest downside is that you’ll still receive just 1 cent per point in value at redemption time.

Finally, the Bank of America Travel Rewards card does not charge an annual fee and comes with an introductory APR offer. If you value these features and you’re looking for simplified earning and redemption options, you may find the card worth considering.

The information regarding the Bank of America® Travel Rewards credit card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

Frequently Asked Questions

Which card is better, the Chase Sapphire Preferred card or the Bank of America Travel Rewards card?

The Chase Sapphire Preferred card is the better travel rewards card due to its elevated earnings on bonus categories, flexible redemption options, and a long list of travel/shopping protections and benefits.

Although the Bank of America Travel Rewards card does not charge an annual fee, it has flat-rate earnings and redemption options that do not exceed 1 cent in value for each reward point. Existing Bank of America customers who have large deposits with the bank and qualify for greater earnings may find value in being a cardholder.

How do Bank of America travel rewards points work?

The Bank of America Travel Rewards card earns unlimited 1.5x points per dollar spent on every purchase. Rewards can be redeemed for statement credits for travel and dining purchases at the rate of 1 cent each.

Existing Bank of America customers who have deposits with the bank may earn up to 75% more reward points depending on the amount on deposit with the bank.

Does the Chase Sapphire Preferred card come with lounge access?

No, the Chase Sapphire Preferred card does not offer lounge access. The Chase Sapphire Reserve® does offer complimentary Priority Pass Select membership that includes access to airport lounges and lounge alternative properties.

Does the Bank of America Travel Rewards card have foreign transaction fees?

No, the Bank of America Travel Rewards card does not charge foreign transaction fees.

Does the Chase Sapphire Preferred card pay for Global Entry fees?

No, the Chase Sapphire Preferred card does not reimburse for Global Entry or TSA PreCheck fees. The Chase Sapphire Reserve card does offer this benefit.

Christine Krzyszton's image

About Christine Krzyszton

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, detailed content for UP.

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