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

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

‍

Here’s a breakdown of why we think the Bank of America® Premium Rewards® Elite is a top contender.

‍

• This card offers a suite of premium travel perks, including complimentary airport lounge access and comprehensive travel protections.
• While it comes with an annual fee, there are no foreign transaction fees, making it a solid choice for international travel.
• The annual fee can be offset in the first year by maximizing the card's various statement credits for travel and lifestyle purchases (publisher-formulated estimate).

‍

Pros

‍

• Offers annual statement credits for airline incidentals and a variety of lifestyle purchases.
• Includes premium travel benefits like complimentary airport lounge access and perks at select hotels.
• Provides a rewards bonus for qualifying Bank of America® customers.

‍

Cons

‍

• Unlike many competing premium travel cards, points can't be transferred to airline or hotel loyalty programs.
• Maximizing reward value requires booking through the Bank of America® Travel Center, which can be restrictive for some travelers.
• The card has a high annual fee that may be difficult to offset unless you take full advantage of all the available credits.

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

‍

Categories

‍

Deciding which is better, the Southwest Rapid Rewards® Plus or the Bank of America® Premium Rewards® Elite, depends entirely on your travel habits and spending style.

‍

• Southwest Rapid Rewards® Plus Credit Card - This is an entry-level co-branded airline card from Southwest Airlines® designed for occasional to frequent flyers of the airline and those new to travel rewards.
• Bank of America® Premium Rewards® Elite credit card - This is a premium travel card best suited for frequent travelers who can take full advantage of luxury perks, especially those integrated into the Bank of America ecosystem.

‍

Redemption

‍

Southwest Rapid Rewards® Plus Credit Card: Points are redeemed through the Southwest Rapid Rewards program, primarily for flights on the airline, though they can also be used for merchandise, gift cards, and other travel experiences.

‍

Bank of America® Premium Rewards® Elite credit card: This card offers flexible redemption options, allowing you to use your points for travel booked through the Bank of America Travel Center, statement credits, or gift cards.

‍

Travel Perks

‍

• Southwest Rapid Rewards® Plus Credit Card: This card's travel ecosystem is built exclusively around Southwest Airlines, with redemptions handled through the airline's own portal. As an entry-level travel card, it does not offer airport lounge access and includes a foreign transaction fee.
• Bank of America® Premium Rewards® Elite credit card: Offering a more flexible ecosystem, this card uses the Bank of America Travel Center for booking, which is not restricted to a single carrier. It provides premium benefits such as airport lounge access and does not charge foreign transaction fees, making it ideal for international travel.

‍

Compare Top Rated Credit Cards with Kudos

‍

To eliminate the guesswork, you can use a financial companion like Kudos, which helps you compare thousands of cards using your own spending data.

‍

• Test Drive Feature: Simulate how much you would earn with a new credit card based on your actual spending history. This allows you to see personalized calculations of potential earnings and net value before you apply, without a hard credit pull.
• Approval Odds: Get a detailed analysis of your approval odds for different cards based on your credit report.
• Welcome Offer Guarantee: If you find a better public welcome offer within three months of being approved for a card through Kudos, the platform will match it.
• Personalized Matching: Receive data-driven, personalized card recommendations that match your unique spending patterns to maximize your rewards.
• Spending and Credit Monitoring: Track your transactions, spending habits, and credit score from a single dashboard.

Who Should Choose the Southwest Rapid Rewards® Plus?

‍

The Southwest Rapid Rewards® Plus Credit Card is an excellent choice for budget-conscious travelers and occasional Southwest flyers who want airline benefits without a high annual fee. It is particularly valuable for Southwest loyalists working toward the coveted Companion Pass, as all points earned with the card count toward qualification. As detailed in a complete 2025 guide, its straightforward structure also makes it a strong entry-level option for those new to travel rewards.

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 part of the Bank of America ecosystem, including those with existing bank or investment accounts. This card is designed for users who want to leverage their relationship with the bank to maximize rewards, especially through the Preferred Rewards® program, while enjoying premium perks like airport lounge access and annual travel credits. Those who prefer a straightforward rewards system and book travel through the Bank of America Travel Center to get a 20% discount on airfare redemptions will find this card particularly valuable, as detailed in this NerdWallet review.

Alternatives to Consider

‍

If you've followed our Southwest Rapid Rewards® Plus vs. Bank of America® Premium Rewards® Elite comparison and still feel undecided, you're not alone. Fortunately, several other excellent travel rewards cards might be a better fit for your wallet.

‍

[[ COMPARE_CARD * {"ids": ["118", "510"], "bestCategoryIds":["17", "18", "19"], "bestForTexts":["Generous Travel Rewards", "$300 Annual Travel Credit"]} ]]

‍

_{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

‍

Before You Apply

‍

• Check your credit score - Most premium rewards cards require good to excellent credit for the best approval odds.
• Plan your spending - Make sure you can naturally meet any welcome offer spending requirements without going into debt.
• Review the rewards ecosystem - Understand how you will redeem points or miles to ensure the card aligns with your goals.

‍

Application Strategy

‍

• Be aware of issuer-specific rules, like Chase's 5/24 rule, which can affect your approval odds.
• Confirm your eligibility for the welcome offer, as some issuers restrict bonuses if you've recently held a similar card.
• Understand the application process, as some issuers let you see your offer before a hard credit check.

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

‍

Which card has a lower annual fee?

‍

The Southwest Rapid Rewards® Plus Credit Card typically has a lower annual fee compared to the Bank of America® Premium Rewards® Elite credit card. The Premium Rewards Elite card's higher fee is justified by its broader range of premium travel benefits.

‍

Can I earn a Southwest Companion Pass with the Bank of America Premium Rewards Elite card?

‍

No, the Southwest Companion Pass® is an exclusive benefit of the Southwest Rapid Rewards® program. You can only earn it by accumulating qualifying points or flights through Southwest or with a Southwest co-branded credit card.

‍

Is one card better for international travel than the other?

‍

The Bank of America® Premium Rewards® Elite credit card is generally better for international travel as its points are more flexible and it often includes benefits like airport lounge access. The Southwest Rapid Rewards® Plus card is more focused on domestic travel within Southwest's network.

‍