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

Bank of America® Premium Rewards® Elite Breakdown

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Why We Like It

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Here’s a closer look at why we’re fans of the Bank of America® Premium Rewards® Elite card.

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• The card offers a suite of premium travel benefits, including complimentary Priority Pass airport lounge access and valuable travel protections.
• While it carries a high annual fee (See Rates & Fees), it has no foreign transaction fees, making it a good companion for international travel.
• You can offset a majority of the annual fee each year by maximizing the statement credits, including up to $300 for airline incidentals and up to $150 for lifestyle purchases (publisher-formulated estimate).

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Pros

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• Valuable annual statement credits for airline incidentals and a broad range of lifestyle purchases.
• A suite of premium travel perks, including complimentary unlimited airport lounge access, elite-style hotel benefits, and travel insurance protections.
• An enhanced rewards-earning rate for Bank of America Preferred Rewards® members and a discount on airfare when redeeming points for flights through the Bank of America® Travel Center.

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Cons

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• A high annual fee that can be difficult to justify unless you maximize all the card’s benefits.
• The rewards program lacks travel transfer partners, a common feature on other premium travel cards, which limits redemption flexibility.
• To maximize point value, you’re restricted to booking travel through the Bank of America Travel Center.

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

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Categories

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When deciding which is better, the Southwest Rapid Rewards® Premier or the Bank of America® Premium Rewards® Elite, it's crucial to understand that each card serves a very different type of traveler. One is tailored for loyalists of a specific airline, while the other offers broad luxury travel benefits.

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• Southwest Rapid Rewards® Premier Credit Card is best for frequent Southwest Airlines flyers looking to earn points toward flights and enjoy day-of-travel benefits. This card is ideal for those seeking to earn points toward the Southwest Companion Pass or A-List elite status.
• Bank of America® Premium Rewards Elite credit card is a premium travel card for frequent travelers who value luxury perks like airport lounge access and travel credits. It is particularly well-suited for existing Bank of America customers who can take advantage of rewards bonuses.

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Redemption

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Southwest Rapid Rewards® Premier: Points are redeemed through the Southwest Rapid Rewards program, primarily for flights on Southwest Airlines. The value of these points is directly tied to the cost of a Southwest flight, making it a straightforward system for the airline's frequent flyers.

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Bank of America® Premium Rewards® Elite: This card provides more flexible redemption options, including cash back, statement credits, or booking travel through the Bank of America Travel Center. This versatility is ideal for travelers who value choice and are not tied to a single airline.

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Travel Perks

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• The Bank of America® Premium Rewards® Elite card grants cardholders airport lounge access via a Priority Pass Select membership, a perk not included with the Southwest Rapid Rewards® Premier card.
• As a premium card, the Bank of America® Premium Rewards® Elite offers annual credits for airline incidentals and application fees for programs like TSA PreCheck® or Global Entry. The Southwest card’s perks are more airline-specific, offering benefits like EarlyBird Check-In® on a set number of flights annually.
• For those traveling internationally, both cards are a good choice as neither charges a foreign transaction fee on purchases made abroad.
• The Southwest Rapid Rewards® Premier is designed to reward loyalty, offering anniversary bonus points and points that count toward earning A-List status or the highly valued Companion Pass®. The Bank of America® Premium Rewards® Elite does not offer pathways to airline elite status.

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Compare Top Rated Credit Cards with Kudos

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To make an informed decision, you can use a tool like Kudos to compare top-rated cards based on your own spending habits.

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• Test drive credit cards using your real spending data to see personalized reward projections before you apply.
• Receive a welcome offer guarantee, where Kudos will match a better offer if you find one within three months of applying.
• Access a detailed analysis of your approval odds based on your credit report.
• Stack extra rewards on top of your credit card points by shopping through the platform.
• Track your progress toward earning credit card sign-up bonuses for free.

Who Should Choose the Southwest Rapid Rewards® Premier?

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The Southwest Rapid Rewards® Premier is best suited for semi-frequent Southwest flyers who want valuable travel perks without committing to a top-tier card's annual fee. These cardholders typically use the card for everyday purchases to accumulate points for future flights while taking advantage of benefits like EarlyBird Check-In and a free checked bag. As a mid-tier option, it strikes a balance for travelers who find the Plus card's benefits too limited but don't need the premium features detailed in a comprehensive review.

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

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The Bank of America® Premium Rewards® Elite credit card is best suited for frequent travelers who are already integrated into the Bank of America ecosystem, especially Preferred Rewards® members. This cardholder values straightforward rewards and luxury perks like airport lounge access and can maximize the card's annual statement credits to help offset the $550 annual fee. As detailed in a NerdWallet analysis, the ideal user prefers booking travel through Bank of America's portal for enhanced value rather than navigating the complexities of airline and hotel transfer partners.

Alternatives to Consider

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After this Southwest Rapid Rewards Premier vs Bank of America Premium Rewards Elite comparison, you might find that neither the Southwest Rapid Rewards® Premier nor the Bank of America® Premium Rewards® Elite is the perfect match for you. Fortunately, the world of travel rewards cards is vast, and other options may offer the benefits and rewards you're looking for.

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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 premium travel cards require a good to excellent credit history for approval.
• Review application rules - Issuers have unique restrictions, like Chase's 5/24 rule, that could affect your eligibility.
• Know your redemption options - Some cards lack airline transfer partners, limiting you to the issuer's travel portal.

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Application Strategy

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• Plan your spending - Time your application before a large purchase to help meet the spending requirement for the welcome offer.
• Leverage existing relationships - Some issuers, like Bank of America, offer better rewards for existing customers.
• Check bonus eligibility - Many cards have rules that restrict earning a welcome offer if you've had a similar card recently.

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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Can I transfer points from the Bank of America Premium Rewards Elite card to Southwest Airlines?

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No, you cannot directly transfer points from the Bank of America Premium Rewards Elite program to Southwest Rapid Rewards. The Bank of America card's points are redeemed through its own travel portal, while the Southwest card earns points directly with the airline.

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Which card is better if I don't live near a Southwest hub?

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If you don't frequently fly Southwest, the Bank of America Premium Rewards Elite card likely offers more flexibility. Its rewards can be used for a wider variety of airlines and travel expenses, not just a single carrier.

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Do both cards come with airline-specific perks?

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The Southwest Rapid Rewards Premier card offers airline-specific benefits like EarlyBird Check-In and points toward a Companion Pass. In contrast, the Bank of America Premium Rewards Elite card provides broader travel credits and perks that are not tied to a single airline.

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