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If you’re a frequent traveler, you’re probably on a constant lookout for credit cards that can help you earn rewards and points. Two of the most popular travel credit cards on the market are Bank of America Travel Rewards and Chase Sapphire Preferred. In this article, we’ll take a closer look at both of these cards and compare them on various factors.
What are Bank of America Travel Rewards?
Bank of America Travel Rewards is a credit card that offers rewards for travel-related purchases. With this card, you can earn 1.5 points per dollar spent on all purchases, and there’s no limit to the number of points you can earn. These points can be redeemed for travel-related purchases such as flights, hotels, and rental cars.
What is Chase Sapphire Preferred?
Chase Sapphire Preferred is a premium travel credit card that offers rewards for travel and dining related purchases. With this card, you can earn 2 points per dollar spent on travel and dining, and 1 point per dollar spent on all other purchases. These points can be redeemed for travel-related purchases, cashback, or transferred to airline and hotel partners.
Comparing the Rewards
When it comes to rewards, both Bank of America Travel Rewards and Chase Sapphire Preferred offer generous rewards for travel-related purchases. However, Chase Sapphire Preferred offers more points for travel and dining-related purchases, which makes it a better option for frequent travelers who eat out often.
Comparing the Fees
Both Bank of America Travel Rewards and Chase Sapphire Preferred have no annual fee. However, Chase Sapphire Preferred has a higher foreign transaction fee of 3% compared to Bank of America Travel Rewards, which charges no foreign transaction fees. This makes Bank of America Travel Rewards a better option for international travelers.
Comparing the Sign-up Bonus
Chase Sapphire Preferred offers a higher sign-up bonus of 60,000 points after you spend $4,000 on purchases in the first 3 months from account opening, while Bank of America Travel Rewards offers a sign-up bonus of 25,000 points after you spend $1,000 on purchases in the first 90 days of account opening. If you’re looking for a credit card with a higher sign-up bonus, Chase Sapphire Preferred is the way to go.
Comparing the Redemption Options
Both Bank of America Travel Rewards and Chase Sapphire Preferred offer flexible redemption options. With Bank of America Travel Rewards, you can redeem points for travel-related purchases, statement credits, and cashback. With Chase Sapphire Preferred, you can redeem points for travel-related purchases, cashback, or transfer points to airline and hotel partners. This makes Chase Sapphire Preferred a better option for frequent travelers who want more redemption options.
Conclusion
Both Bank of America Travel Rewards and Chase Sapphire Preferred are excellent travel credit cards that offer generous rewards for travel-related purchases. However, they have their differences when it comes to rewards, fees, sign-up bonus, and redemption options. Choose the card that best fits your travel needs and spending habits.
| Bank of America Travel Rewards | Chase Sapphire Preferred |
|---|---|
| No annual fee | No annual fee |
| No foreign transaction fees | 3% foreign transaction fee |
| 1.5 points per dollar spent on all purchases | 2 points per dollar spent on travel and dining, 1 point per dollar spent on all other purchases |
| 25,000 points sign-up bonus after spending $1,000 on purchases in the first 90 days of account opening | 60,000 points sign-up bonus after spending $4,000 on purchases in the first 3 months of account opening |
| Redeem points for travel-related purchases, statement credits, and cashback | Redeem points for travel-related purchases, cashback, or transfer to airline and hotel partners |
Frequently Asked Questions
Which card is better for frequent travelers?
If you’re a frequent traveler who eats out often, Chase Sapphire Preferred is a better option as it offers more points for travel and dining-related purchases. However, if you’re an international traveler, Bank of America Travel Rewards is a better option as it charges no foreign transaction fees.
Do both cards offer sign-up bonuses?
Yes, both Bank of America Travel Rewards and Chase Sapphire Preferred offer sign-up bonuses. However, Chase Sapphire Preferred offers a higher sign-up bonus of 60,000 points compared to Bank of America Travel Rewards, which offers a sign-up bonus of 25,000 points.
Can points be redeemed for cashback or statement credits?
Yes, both Bank of America Travel Rewards and Chase Sapphire Preferred allow you to redeem your points for statement credits or cashback.
Which card is better for flexibility in redemption options?
Chase Sapphire Preferred is a better option for flexibility in redemption options as it allows you to transfer points to airline and hotel partners, in addition to redeeming points for travel-related purchases and cashback.
Is there a limit to the number of points you can earn with these cards?
No, there’s no limit to the number of points you can earn with both Bank of America Travel Rewards and Chase Sapphire Preferred.