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Amex Gold vs Bank of America Premium Rewards Elite: Which Is Better In 2025?
July 1, 2025
Editor's Picks
- The American Express® Gold Card is a powerhouse for foodies, offering high rewards on dining worldwide and at U.S. supermarkets. Terms Apply.
- The Bank of America® Premium Rewards® Elite is a strong contender for those who spend on travel and dining, with added value for existing Bank of America® customers.
American Express® Gold Card Breakdown
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Why We Like It
Let's dive into the specific benefits and features that make the American Express® Gold Card (See Rates & Fees) a standout option.
- It offers generous rewards on everyday spending, particularly at restaurants worldwide and U.S. supermarkets.
- Cardholders receive valuable monthly statement credits for select dining purchases and Uber usage in the U.S.
- The card comes with a suite of travel-friendly perks and flexible point redemption options, including transfers to airline and hotel partners.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
Pros
- Generous rewards on spending at restaurants worldwide and at U.S. supermarkets.
- Valuable annual credits for popular dining and rideshare services.
- Flexible point redemption options, including transfers to airline and hotel partners.
Cons
- High annual fee.
- Annual credits are broken down into monthly increments.
- Less widely accepted than Visa or Mastercard.
Bank of America® Premium Rewards® Elite Breakdown
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Why We Like It
Here’s a closer look at the premium travel perks and credits that make the Bank of America® Premium Rewards® Elite a standout choice.
- It offers valuable annual credits for travel and lifestyle spending.
- Enjoy premium travel perks like airport lounge access and benefits with hotels and car rentals.
- Earn points on every purchase with an easy-to-understand rewards program that favors travel and dining.
Pros
- Offers generous annual statement credits for airline incidentals and a variety of lifestyle purchases.
- Includes a suite of premium travel perks, such as complimentary airport lounge access, benefits at luxury hotels, and elite status with major car rental companies.
- Features a straightforward rewards program where points never expire and can be redeemed for travel, cash back, or gift cards.
Cons
- Carries a high annual fee that may be difficult to justify without maximizing the card’s annual credits.
- The rewards program lacks the flexibility to transfer points to airline or hotel partners, a common feature on competing cards.
- Maximizing point value requires booking through Bank of America’s travel portal, which can be restrictive for some travelers.
Bank of America® Premium Rewards® Elite vs American Express® Gold Card
Categories
Deciding which is better, Amex Gold or Bank of America Premium Rewards Elite, depends entirely on your spending habits and travel preferences. Both cards offer premium perks, but they cater to very different types of consumers.
- American Express® Gold Card: This card is best suited for frequent travelers, especially those who are also food enthusiasts. It's designed for individuals who spend heavily on both dining out and groceries.
- Bank of America® Premium Rewards® Elite: This premium travel credit card is tailored for consumers seeking luxury travel perks and benefits. It is particularly advantageous for those already integrated into the Bank of America financial ecosystem.
Redemption
American Express® Gold Card: Points can be transferred to numerous airline and hotel partners, offering flexible options for booking award travel. Alternatively, you can redeem them for statement credits, gift cards, or travel through the Amex portal.
Bank of America® Premium Rewards® Elite: Rewards can be redeemed for cash back, statement credits, or travel booked through the Bank of America Travel Center. The value of your points can be boosted if you are a member of the Bank of America Preferred Rewards® program.
Travel Perks
- American Express® Gold Card: This card features no foreign transaction fees. Its travel ecosystem is built around the flexibility of the Membership Rewards® program, allowing point transfers to a wide array of airline and hotel partners. Travel can also be booked directly through the AmexTravel.com portal. While it doesn't offer broad airport lounge access, cardholders receive benefits and credits when booking stays through The Hotel Collection. Terms apply.
- Bank of America® Premium Rewards® Elite: This card also has no foreign transaction fees. It provides a more traditional luxury travel experience with an annual airline incidental statement credit and a statement credit for TSA PreCheck® or Global Entry application fees. Cardholders receive a Priority Pass™ Select membership for airport lounge access. Travel is booked through the Bank of America Travel Center, where points can be worth more for Bank of America Preferred Rewards® members.
Compare Top Rated Credit Cards with Kudos
To find the best card for your wallet, a tool like Kudos can help you compare top-rated options based on your actual spending.
- Test Drive Feature: Simulate potential earnings with any credit card using your real spending data before you apply, giving you a personalized breakdown of rewards minus any annual fees.
- Approval Odds Analysis: Understand your chances of getting approved for a card with a detailed analysis based on your credit report.
- Welcome Offer Guarantee: If you find a better welcome offer for a card you got through Kudos within three months, the platform will match it.
- Kudos Boost: Earn extra rewards on top of what your credit card offers when you shop with participating merchants through Kudos.
- Personalized Recommendations: Get data-driven card recommendations tailored to your specific spending patterns, helping you avoid leaving rewards on the table.
Who Should Choose the American Express® Gold Card?
The American Express® Gold Card is an ideal choice for foodies and frequent travelers who can take full advantage of its robust rewards structure. Cardholders earn 4X Membership Rewards® points at restaurants worldwide and at U.S. supermarkets on up to $25,000 per calendar year in purchases, then 1X. The card's value is further enhanced by perks like up to $120 in annual dining credits and up to $120 in Uber Cash for U.S. rides or Uber Eats orders, which can easily offset the annual fee for the right user. Terms Apply.
Who Should Choose the Bank of America® Premium Rewards® Elite?
The Bank of America® Premium Rewards® Elite credit card is best suited for frequent travelers who are already deeply invested in the Bank of America® ecosystem, particularly Preferred Rewards® members with significant balances in banking or Merrill investment accounts. This cardholder can maximize value by leveraging the card's annual travel and lifestyle credits to offset the fee, while earning boosted rewards on all their spending. They also value simplicity and are comfortable booking travel through Bank of America's portal to get a 20% discount on airfare, rather than needing the flexibility of transferring points to airline and hotel partners.
Alternatives to Consider
If the Amex Gold vs Bank of America Premium Rewards Elite comparison has left you undecided or convinced that neither is the right choice, let's explore a few alternative cards that might be a better fit for your wallet.
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Tips for Application Success
Before You Apply
- Check your credit score: Most premium cards require a good to excellent credit history for the best approval odds.
- Plan your spending: Ensure you can comfortably meet the welcome offer spending requirement through your normal purchasing habits.
- Review the card’s benefits: Understand how you will use the rewards and be aware that some perks may require enrollment to activate.
Application Strategy
- Find the best welcome offer: Don’t settle for a lower bonus and try multiple application methods if needed.
- Check for relationship bonuses: Your existing bank may offer better rewards rates if you are already a customer.
- Look for personalization: Some issuers allow you to choose your card design during the application process.
Our Methodology
We evaluate nearly 3,000 credit cards across the U.S. market — far more than the ~150 cards commonly featured on sites that focus only on products tied to affiliate commissions. Our goal is to provide a comprehensive, unbiased view of the credit card landscape so you can make confident, data-driven decisions.
Our editorial team combines deep industry experience with rigorous verification standards. While our experts surface the most relevant recommendations in our guides, you can also explore the full dataset yourself through our card explorer tool, which includes thousands of cards — more than 95% of which do not provide us with commissions.
Frequently Asked Questions
Can I transfer points from both cards to airline partners?
The American Express® Gold Card allows you to transfer points to numerous airline and hotel partners, often increasing their value. In contrast, the Bank of America® Premium Rewards® Elite card does not offer point transfers to external loyalty programs.
Are the annual fees different for the Amex Gold and Premium Rewards Elite cards?
Yes, the annual fees are quite different. The American Express® Gold Card carries a $250 annual fee, while the Bank of America® Premium Rewards® Elite card has a $550 annual fee.
Is the Bank of America® Premium Rewards® Elite card only for existing BofA customers?
No, anyone can apply for the card, but it is most rewarding for existing customers. Bank of America Preferred Rewards members can earn a 25% to 75% bonus on rewards, significantly boosting the card's value proposition.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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