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Amex Platinum vs Bank of America Premium Rewards: Which Is Better In 2025?
July 1, 2025
Editor's Picks
- The American Express Platinum Card® is a premium travel card ideal for frequent travelers who can take full advantage of its extensive lounge access and numerous statement credits. Terms Apply.
- The Bank of America® Premium Rewards® Credit Card is a versatile card for travel and dining, offering enhanced rewards for existing Bank of America customers.
American Express Platinum Card® Breakdown
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Why We Like It
Here's a breakdown of the key reasons we're fans of the American Express Platinum Card® (See Rates & Fees).
- It offers an extensive suite of travel benefits, including unparalleled airport lounge access and automatic elite status with major hotel loyalty programs.
- A variety of statement credits for lifestyle purchases like digital entertainment, shopping, and rideshares provide significant value.
- Cardmembers unlock exclusive access to sought-after dining reservations and unique curated experiences.
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
- Accelerated rewards earning on eligible flights and prepaid hotel bookings.
- Access to the Fine Hotels + Resorts program, which provides elite-like benefits such as room upgrades, daily breakfast for two, and guaranteed late checkout on eligible stays.
- Comprehensive travel protections and access to a dedicated concierge service for booking and planning assistance.
Cons
- A substantial annual fee requires cardholders to take full advantage of the available benefits to justify the cost.
- Many of the card’s statement credits and perks require manual enrollment and active management to redeem.
- Bonus rewards are concentrated on travel purchases, with limited earning potential for everyday spending categories.
Bank of America® Premium Rewards® Breakdown
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Why We Like It
Here’s a closer look at the features and benefits that make the Bank of America® Premium Rewards® card a strong contender.
- The card provides straightforward, fixed-value points that are simple to redeem for cash back, travel, or statement credits.
- Bank of America Preferred Rewards members can earn a significant bonus on all points, maximizing their rewards on every purchase.
- It includes a suite of travel protections and annual statement credits that help offset common travel expenses.
Pros
- Offers a significant rewards bonus for Bank of America Preferred Rewards members, boosting earning potential on all purchases.
- Includes valuable annual travel credits for airline incidentals and has no foreign transaction fees.
- Features a simple rewards program with flexible redemption options where points maintain a consistent, fixed value.
Cons
- Points cannot be transferred to airline or hotel partners, which limits options for maximizing travel value.
- The rewards program is significantly less valuable for those who are not Bank of America Preferred Rewards members.
- Lacks premium travel benefits like airport lounge access, which are often found on competing travel cards.
Bank of America® Premium Rewards® vs American Express Platinum Card®
Categories
Deciding which is better, Amex Platinum or Bank of America Premium Rewards, depends entirely on your travel habits and spending style. While both cards are designed for travelers, they cater to very different segments of the market.
- American Express Platinum Card®: This card is best for frequent travelers who prioritize luxury perks, exclusive benefits, and comprehensive airport lounge access.
- Bank of America® Premium Rewards® credit card: This card is ideal for frequent travelers who prefer straightforward rewards and valuable travel credits without the complexity of a premium luxury card.
Redemption
American Express Platinum Card®: Cardholders can redeem Membership Rewards® points by transferring them to a wide array of airline and hotel partners, which often provides the highest value for luxury travel. Points can also be used for statement credits, gift cards, or booking travel directly through American Express Travel.
Bank of America® Premium Rewards® credit card: This card offers more direct redemption options, allowing you to redeem points for cash back, statement credits, or travel booked through the Bank of America Travel Center. The value is straightforward, with bonuses available for Bank of America Preferred Rewards members.
Travel Perks
- Lounge Access: The American Express Platinum Card® provides comprehensive airport lounge access through The Global Lounge Collection, which includes Centurion® Lounges, Priority Pass™ Select lounges upon enrollment, and Delta Sky Clubs® when flying with Delta (Terms Apply). In contrast, the Bank of America® Premium Rewards® credit card does not offer complimentary lounge access as a core feature.
- Travel Portal: With the American Express Platinum Card®, members can book through American Express Travel and gain access to elite-style benefits through the Fine Hotels + Resorts® program and The Hotel Collection. The Bank of America® Premium Rewards® credit card utilizes the Bank of America Travel Center, where cardholders can redeem points for travel, with Preferred Rewards members receiving a bonus on point value.
- Travel Credits: The Platinum Card® offers a suite of annual credits, such as up to $200 in airline fee credits and up to $200 in Uber Cash (Terms Apply). The Bank of America® Premium Rewards® credit card features a more direct up to $100 airline incidental statement credit each year.
- Foreign Transaction Fees: Neither card charges a foreign transaction fee, making both suitable for international spending.
Compare Top Rated Credit Cards with Kudos
To simplify the decision-making process, a tool like Kudos can help you compare nearly 3,000 credit cards based on your own spending habits.
- Test drive credit cards: Simulate using any credit card with your real spending data to see personalized reward projections and net value before you apply, without impacting your credit score.
- Personalized recommendations: Get data-driven card recommendations and detailed approval odds based on your unique spending history and credit profile.
- Welcome offer guarantee: If you find a better public welcome offer within three months of approval, Kudos will match it.
- Kudos Boost: Earn extra rewards on top of your card’s points by shopping with Kudos at your favorite stores.
- New user incentives: Unlock rewards like the $100 Kudos Kickstart+ for adding eligible cards or get $20 back after your first qualifying purchase.
Who Should Choose the American Express Platinum Card®?
The American Express Platinum Card® is tailored for the frequent traveler who values luxury experiences and can maximize a suite of premium benefits. This cardholder is someone who will consistently take advantage of extensive airport lounge access, elite hotel status, and a variety of statement credits across travel, dining, and entertainment. Conversely, it's less suitable for budget-conscious individuals or those who rarely travel, as they would likely struggle to extract enough value to justify the card's substantial annual fee.
Who Should Choose the Bank of America® Premium Rewards®?
The Bank of America® Premium Rewards® credit card is an excellent choice for moderate travelers and everyday spenders who value straightforward rewards without a high annual fee. It's particularly well-suited for individuals who frequently spend on travel and dining to earn 2x points, and who appreciate the simplicity of redeeming points for cash back or statement credits at a fixed rate. The card's value is maximized for existing Bank of America clients who can leverage the Preferred Rewards program to earn a 25% to 75% bonus on all points earned.
Alternatives to Consider
If the Amex Platinum vs Bank of America Premium Rewards comparison has left you undecided, you're in luck. The premium credit card market is full of strong contenders that might be a better fit for your spending habits and travel goals.
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Tips for Application Success
Before You Apply
- Check your credit score - You will generally need good to excellent credit for approval.
- Plan your spending - Make sure you can comfortably meet the minimum spend for the welcome offer.
- Confirm your eligibility - Review the welcome offer terms, as you may not be eligible if you have had this card before.
Application Strategy
- Leverage existing banking relationships with the issuer.
- Time your application around a large planned purchase.
- Research the card’s benefits to confirm they fit your lifestyle.
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
Is it worth paying a high annual fee for a credit card?
A high annual fee can be worthwhile if the card's benefits, such as statement credits and rewards, provide more value than the fee costs. It's essential to analyze your personal spending and travel habits to see if you can maximize the perks to offset the yearly charge.
How do travel credits work on premium cards?
Travel credits typically function as automatic reimbursements for eligible purchases, such as airline incidentals or hotel bookings, up to a specified annual limit. After you make a qualifying purchase with your card, a statement credit is usually applied to your account.
What are transfer partners and why are they valuable?
Transfer partners are airline and hotel loyalty programs that let you convert your credit card points into their program's currency, often at a favorable ratio. This flexibility can unlock significant value, allowing you to book premium cabin flights or luxury hotel stays for fewer points than you might otherwise need.
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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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