Kudos has partnered with CardRatings and Red Ventures for our coverage of credit card products. Kudos, CardRatings, and Red Ventures may receive a commission from card issuers. Kudos may receive commission from card issuers. Some of the card offers that appear on Kudos are from advertisers and may impact how and where card products appear on the site. Kudos tries to include as many card companies and offers as we are aware of, including offers from issuers that don't pay us, but we may not cover all card companies or all available card offers. You don't have to use our links, but we're grateful when you do!
Amex Platinum vs Bank of America Premium Rewards Elite: Which Is Better In 2025?
July 1, 2025
Editor's Picks
- The American Express® Platinum Card® is best for frequent travelers who can take full advantage of its extensive lounge access, hotel elite status, and various travel credits (Terms Apply).
- The Bank of America® Premium Rewards® Elite is ideal for earning points on travel and dining, especially for Bank of America customers who can earn a rewards bonus on every purchase.
American Express Platinum Card® Breakdown
[[ SINGLE_CARD * {"id": "106", "isExpanded": "true", "bestForCategoryId": "15", "bestForText": "Luxury Travel", "headerHint" : "Explore the World" } ]]
Why We Like It
Here’s a breakdown of why the American Express Platinum Card® (See Rates & Fees) stands out, from its premium travel perks to its extensive statement credits.
- It offers complimentary access to an extensive network of airport lounges worldwide, including the exclusive Centurion Lounges.
- Cardmembers receive a variety of annual statement credits that can be used for travel, entertainment, and shopping.
- You'll unlock elite status with major hotel loyalty programs and gain access to exclusive benefits at luxury properties.
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
- Exceptional airport lounge access: The card provides complimentary entry to the American Express Global Lounge Collection, which includes the exclusive Centurion® Lounges, Delta Sky Club® when flying Delta, and Priority Pass Select lounges.
- A suite of valuable credits: Cardmembers receive numerous annual statement credits that apply to travel, digital entertainment, retail, and more, which can significantly enhance the value of the card.
- Elite hotel benefits: You'll receive complimentary Gold status with both Marriott Bonvoy and Hilton Honors, plus access to exclusive perks like room upgrades and property credits through the Fine Hotels + Resorts program.
Cons
- High annual fee: The card comes with a substantial annual fee, making it essential for cardholders to fully leverage its benefits to get their money's worth.
- Complex benefits structure: Many of the card’s valuable credits and perks require manual enrollment and have specific terms, which can be a hassle to manage.
- Limited rewards on everyday spending: While excellent for travel purchases, the card doesn't offer accelerated rewards on most day-to-day spending categories.
Bank of America® Premium Rewards® Elite Breakdown
[[ SINGLE_CARD * {"id": "867", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Frequent Travelers", "headerHint": "TSA PreCheck Credit"} ]]
Why We Like It
From its flexible rewards program to its valuable travel credits, here's a closer look at what makes the Bank of America® Premium Rewards® Elite stand out.
- Cardholders receive annual statement credits that help offset the cost of airline incidentals and everyday lifestyle spending.
- Travelers can take advantage of complimentary airport lounge access and exclusive benefits at luxury hotels.
- Bank of America® Preferred Rewards® members can accelerate their earnings with a rewards bonus on every purchase.
Pros
- Generous annual statement credits cover airline incidentals and select lifestyle purchases.
- Premium travel perks include complimentary airport lounge access, hotel benefits, and comprehensive travel protections.
- Flexible rewards structure with bonus earning potential for Bank of America Preferred Rewards® members.
Cons
- Unlike many premium competitors, this card offers no option to transfer points to airline or hotel loyalty programs.
- The card's rewards earning rates are the same as its lower-tier counterpart, the Bank of America® Premium Rewards® credit card.
- Redeeming points for travel is restricted to booking through the Bank of America® Travel Center.
Bank of America® Premium Rewards® Elite vs American Express Platinum Card®
Categories
Deciding which is better, Amex Platinum or Bank of America Premium Rewards Elite, depends on your travel frequency and whether you value flexible rewards or benefits tied to a specific banking ecosystem.
- American Express Platinum Card® - This card is built for frequent travelers who can maximize its value through extensive luxury travel perks. It offers comprehensive airport lounge access and premium hotel benefits.
- Bank of America® Premium Rewards® Elite credit card - As a premium travel card, this option is ideal for consumers already invested in the Bank of America® ecosystem. It allows cardholders to leverage their existing banking and investment accounts to boost their rewards.
Redemption
American Express Platinum Card®: Points can be redeemed for travel by transferring them to various airline and hotel partners or by booking directly through the American Express travel portal. You can also use points for statement credits, gift cards, and merchandise.
Bank of America® Premium Rewards® Elite credit card: Cardholders can redeem points for cash back, travel booked through the Bank of America Travel Center, or gift cards. The value of your points can be enhanced if you are a member of the Bank of America Preferred Rewards® program.
Travel Perks
- American Express Platinum Card®: This card offers extensive airport lounge access through the American Express Global Lounge Collection®. It has no foreign transaction fees, and travel can be booked via the American Express travel portal.
- Bank of America® Premium Rewards® Elite credit card: Cardholders get a Priority Pass™ Select membership for lounge access. This card also has no foreign transaction fees, with travel booking available through the Bank of America Travel Center.
Compare Top Rated Credit Cards with Kudos
To find the best card for your specific spending habits, a tool like Kudos can provide personalized, data-driven recommendations.
- Test drive credit cards: Use your real spending data to simulate how much you would earn with a new card before you apply, with no impact on your credit score.
- Approval odds analysis: Receive a detailed, data-driven analysis of your chances of being approved for different cards based on your credit report.
- Kudos Boost: Earn extra rewards when shopping at participating stores, which stack on top of your existing credit card rewards.
- Welcome offer guarantee: If you find a better welcome offer within three months of approval, Kudos will match it.
- Centralized management: Track your spending, monitor your credit score, and see your progress toward sign-up bonuses all in one place.
- Autofill at checkout: The platform can automatically suggest and fill in the best card to use for any online purchase to ensure you maximize your rewards.
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 often in an airport, taking full advantage of the extensive lounge access, and appreciates elite status perks like room upgrades and late checkouts at hotels. Beyond travel, they are savvy users who can effortlessly leverage the various statement credits for dining, entertainment, and retail, ensuring the card's value justifies its annual fee.
Who Should Choose the Bank of America® Premium Rewards® Elite?
The Bank of America® Premium Rewards® Elite credit card is primarily designed for high-spending travelers who are already deeply integrated into the Bank of America and Merrill investment ecosystem. These cardholders value straightforward luxury perks like airport lounge access and annual statement credits, and they prefer the simplicity of booking travel through the bank's portal rather than navigating complex transfer partner programs. In particular, Bank of America Preferred Rewards® members stand to gain the most, as their status unlocks significantly higher rewards rates on all their spending.
Alternatives to Consider
If our Amex Platinum vs Bank of America Premium Rewards Elite comparison has you convinced that neither card is the right fit, don't worry. There are several other excellent travel rewards cards to consider.
[[ COMPARE_CARD * {"ids": ["510", "509"], "bestCategoryIds":["17", "18", "19"], "bestForTexts":["Annual Travel Credit", "Exceptional Value"]} ]]
Tips for Application Success
Before You Apply
- Assess your credit history, as premium cards typically require a good to excellent score for approval.
- Plan how you will naturally meet the spending requirement for the welcome offer without overspending.
- Review the issuer’s application restrictions and card benefits to ensure the card is a good fit for you.
Application Strategy
- Plan for post-approval management - Many premium card benefits require manual enrollment or activation after you are approved.
- Consider the issuer's ecosystem - Some cards offer enhanced rewards and benefits for existing banking customers.
- Understand the redemption options - Check if a card offers flexible transfer partners or is limited to a specific travel portal.
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
What are the annual fees for the Amex Platinum and Bank of America Premium Rewards Elite cards?
The American Express® Platinum Card carries a significant annual fee, justified by its extensive list of luxury travel benefits and statement credits. The Bank of America® Premium Rewards Elite card also has a premium-level annual fee, though it is typically lower than the Platinum Card's.
Can I transfer points from both cards to airline partners?
You can transfer points from the American Express® Platinum Card to a wide variety of airline and hotel loyalty programs, which is one of its most valuable features. The Bank of America® Premium Rewards Elite card does not offer the ability to transfer points to external travel partners.
Is the Bank of America Premium Rewards Elite card worth it if I'm not a Bank of America customer?
The card's value is maximized for existing Bank of America customers, especially those enrolled in the Preferred Rewards program who receive a bonus on rewards earned. While anyone can hold the card, its earning potential is significantly diminished without that banking relationship.
Unlock your extra benefits when you become a Kudos member
Turn your online shopping into even more rewards
Join over 400,000 members simplifying their finances
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.
.webp)
.webp)
