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Last updated
Six value dimensions, scored 0–100. The solid bar leads that dimension.
Earning power
Statement credits
Lounge access
Hotel & status
Protections
Low annual fee
| Perk | BofA Premium Rewards EliteBank of America | BofA Customized CashBank of America |
|---|---|---|
| Costs & value | ||
| Annual fee | $550 Inferred by source | $0 Inferred by source |
| Realized value* | $570 | $0 |
| Net / year | +$20 | +$0 |
| Value check | Earns its keep | Earns its keep |
| Rewards | points | cashback |
| Cash advance (ATM) | Either $10 or 5% of each cash advance, whichever is greater Inferred by source | Either $10 or 5% of each cash advance, whichever is greater Inferred by source |
| LoungesFull breakdown → | ||
| Networks | Priority Pass · 336enroll PP | — |
| Points & MilesFull breakdown → | ||
| Earn rates | 2× Travel & dining Inferred by source 1.5× Everything else Inferred by source | 3× Your choice of 3% category (gas, online shopping, dining, travel, drugstores or home improvement) Inferred by source 2× Grocery stores & wholesale clubs Inferred by source 1× Everything else Inferred by source |
| Redemption ValueFull breakdown → | ||
| Portal value | 1¢ per pt Estimated by source | 1¢ per pt Inferred by source |
| Hotel PerksFull breakdown → | ||
| Premium hotel benefits | Included Inferred by source | — |
| Preferred Rewards boost | — | Included Inferred by source |
| CreditsFull breakdown → | ||
| Credits | 3 credits · $570/yr | — |
| ProtectionsFull breakdown → | ||
| Trip cancellation | Trip cancellation/interruption protection Inferred by source | — |
| Baggage | Lost/delayed baggage protection Inferred by source | — |
| Rental car CDW | Auto rental collision coverage Inferred by source | — |
| Foreign Tx FeesFull breakdown → | ||
| Fee | None Inferred by source | 3% Inferred by source |
| CashbackFull breakdown → | ||
| Rate | — | Redeem for statement credit, deposit to a BofA/Merrill account, or gift cards Inferred by source |
| Apply & freshness | ||
| Data last verified | Jun 4, 2026 | Jun 5, 2026 |
| Apply | Apply | Apply |
*Assumes full use of every non-spend-gated credit — an upper bound. Personalize it
On paper the Bank of America® Premium Rewards® Elite Credit Card comes out ahead: by realized value minus the annual fee, the Bank of America® Premium Rewards® Elite Credit Card nets +$20/yr and the Bank of America® Customized Cash Rewards Credit Card nets +$0/yr. Which is actually better depends on your spending and which perks you'll use.
The Bank of America® Customized Cash Rewards Credit Card has the lower annual fee ($0 vs $550).
The Bank of America® Premium Rewards® Elite Credit Card includes lounge access (Priority Pass); the Bank of America® Customized Cash Rewards Credit Card does not.