Southwest Rapid Rewards Plus vs Bank of America Premium Rewards: Which Is Better In 2025?

Bank of America® Premium Rewards® Breakdown

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Why We Like It

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Here’s a closer look at what makes the Bank of America® Premium Rewards® card a compelling choice.

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• The card offers a solid rewards rate on travel and dining purchases, with a good base rate on everything else.
• While it comes with an annual fee, it doesn't charge foreign transaction fees, making it a good companion for international travel.
• The card's annual airline incidental credit can completely offset the annual fee each year. (publisher-formulated estimate)

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Pros

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• Offers valuable annual credits that can be used for airline incidentals and expedited airport screening programs.
• Existing Bank of America customers can significantly boost their rewards through the Preferred Rewards program.
• Provides comprehensive travel insurance protections and charges no foreign transaction fees.

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Cons

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• The rewards program has a fixed redemption value and does not allow point transfers to airline or hotel partners.
• It lacks premium travel perks like airport lounge access, which can be found on competing travel cards.
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• Cardholders who are not already Bank of America customers with qualifying balances will not be able to maximize the card’s rewards-earning potential.

Bank of America® Premium Rewards® vs Southwest Rapid Rewards® Plus

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Categories

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Deciding which is better, the Southwest Rapid Rewards® Plus Credit Card or the Bank of America® Premium Rewards® Credit Card, comes down to your personal travel habits and banking relationships. Each card caters to a different type of spender and traveler.

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• Southwest Rapid Rewards® Plus Credit Card: This card is best for budget-conscious travelers who are loyal to Southwest Airlines. It's a great fit for those who fly with the airline several times a year and are interested in earning points toward the Companion Pass.
• Bank of America® Premium Rewards® Credit Card: This card is ideal for frequent travelers and everyday spenders who want flexible rewards and already bank or invest with Bank of America. Existing customers can unlock significantly higher rewards rates.

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Redemption

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Southwest Rapid Rewards® Plus Credit Card: Points are redeemed directly with Southwest Airlines for flights. You can also use points for merchandise, gift cards, and other travel experiences through the airline's portal.

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Bank of America® Premium Rewards® Credit Card: This card offers flexible redemption options, including cash back, statement credits, gift cards, or booking travel through the Bank of America Travel Center.

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Travel Perks

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• Southwest Rapid Rewards® Plus Credit Card: The travel ecosystem is built entirely around Southwest Airlines. It incurs a foreign transaction fee, making it less suitable for international travel. The card does not offer airport lounge access, but its main perks include anniversary bonus points and the ability to earn points that count toward the valuable Southwest Companion Pass®.
• Bank of America® Premium Rewards® Credit Card: This card offers a more flexible travel environment. It has no foreign transaction fees, making it a solid option for use abroad. While it doesn't provide direct lounge membership, it includes annual statement credits for airline incidentals and for a TSA PreCheck® or Global Entry application fee. Travel can be booked through the Bank of America Travel Center, providing more options than a single airline.

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Compare Top Rated Credit Cards with Kudos

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For a data-driven approach, a tool like Kudos can help you compare nearly 3,000 credit cards to find the best fit for your unique spending patterns.

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• Test drive a credit card: This feature allows you to simulate potential earnings with a new card based on your real spending data, all before you apply and without impacting your credit score.
• Personalized recommendations: By securely connecting your bank accounts, Kudos analyzes your transaction history to provide personalized card matches and detailed approval odds.
• Member rewards: You can earn a $100 Kudos Kickstart+ reward for adding select cards to your Kudos Wallet and get extra rewards on top of your card points when shopping at partner stores with Kudos Boost.
• Welcome offer guarantee: If you find a better public welcome offer for a card you got through the platform within three months, Kudos will match it.
• Financial management: The platform allows you to manage multiple cards, monitor your credit score, and track spending all in one place.

Who Should Choose the Southwest Rapid Rewards® Plus?

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The Southwest Rapid Rewards® Plus Credit Card is an excellent choice for occasional Southwest flyers who want to earn rewards without committing to a high annual fee. It's also well-suited for budget-conscious travelers and those new to rewards cards, offering a straightforward way to accumulate points on everyday spending. Ultimately, this card is a practical tool for anyone aiming to earn the coveted Southwest Companion Pass through a combination of spending and bonuses.

Who Should Choose the Bank of America® Premium Rewards®?

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The Bank of America® Premium Rewards® credit card is an excellent choice for moderate travelers and everyday spenders who value straightforward rewards over complex loyalty programs. It's particularly powerful for existing Bank of America clients, as the Preferred Rewards program can boost earnings by up to 75%, significantly increasing the value of every purchase. Those who want a simple system of earning 2X points on travel and dining and 1.5X on everything else, with easy redemption options, will find this card to be a strong contender.

Alternatives to Consider

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If the Southwest Rapid Rewards® Plus vs. Bank of America® Premium Rewards® comparison has you convinced that neither card is the right choice, other travel rewards cards are worth considering. Let's explore a few alternatives that might be a better match.

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_{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.}

Tips for Application Success

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Before You Apply

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• Check your credit score: Most rewards cards require good to excellent credit for approval.
• Plan your spending: Ensure you can meet any minimum spending requirements for a welcome offer without overspending.
• Assess your loyalty: Consider if a card's benefits are tied to a specific airline or enhanced by an existing banking relationship.

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Application Strategy

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• Leverage banking relationships - An existing account can improve approval odds and may unlock better benefits.
• Time your application - Applying before a large planned purchase makes it easier to meet a welcome offer's spending requirement.
• Target co-branded cards wisely - A card tied to one brand, like Southwest, is best if you're a loyal customer.

Our Methodology

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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.

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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

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Which card is better for someone who flies Southwest Airlines exclusively?

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The Southwest Rapid Rewards® Plus Credit Card is designed specifically for Southwest flyers, offering benefits like anniversary points and EarlyBird Check-In® that directly enhance the Southwest travel experience.

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Can I use the points from the Bank of America® Premium Rewards® credit card for flights on any airline?

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Yes, the points earned with the Bank of America® Premium Rewards® credit card are flexible and can be redeemed for travel through the Bank of America Travel Center, which includes flights on various airlines.

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Do both cards come with travel credits?

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The Bank of America® Premium Rewards® credit card offers an annual airline incidental statement credit, while the Southwest Rapid Rewards® Plus Credit Card does not typically offer a broad travel credit.

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