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Each card across six value dimensions (0–100). Bigger area = more all-round value.
| Perk | Bank of AmericaBofA Premium Rewards EliteBank of America | Bank of AmericaBofA Customized CashBank of America |
|---|---|---|
| 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 |
| Lounges | Priority Pass · 336enroll PP | — |
| Points & Miles | 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 Value | 1¢ per pt Estimated by source | 1¢ per pt Inferred by source |
| Hotel Perks | Premium hotel benefits Inferred by source | Preferred Rewards boost Inferred by source |
| Credits | 3 credits · $570/yr | — |
| Protections | trip cancellation — Trip cancellation/interruption protection Inferred by source baggage — Lost/delayed baggage protection Inferred by source rental cdw — Auto rental collision coverage Inferred by source | — |
| Foreign Tx Fees | None Inferred by source | 3% Inferred by source |
| Cashback | — | Redeem for statement credit, deposit to a BofA/Merrill account, or gift cards Inferred by source |
| 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.