Bank of America Premium Rewards vs US Bank Cash+
Side-by-side comparison across fees, rewards, welcome bonuses, and eligibility.
US Bank Cash+ wins 3-2. 5% on 2 chosen categories + 2% on 1 chosen, fully customizable. Bank of America Premium Rewards is still the right call if boa preferred rewards clients, up to 2.625x with $100k relationship..
Side-by-side
| Criterion | Bank of America Premium Rewards | US Bank Cash+ |
|---|---|---|
| Annual fee | · $95 | No annual fee |
| Joining fee | = None | = None |
| Top reward rate | · 2% (travel) | 5% (shopping) |
| Base reward rate | 1.5% | · 1% |
| Forex markup | No FX fee | · 3% |
| Welcome bonus | = 60,000 points after $4,000 spend in 90 days | = $200 statement credit after $1,000 spend in 120 days |
| Fee waiver threshold | = No waiver | = N/A (no fee) |
| Min income | = None stated | = None stated |
| Min credit score | · 720 | 670 |
| Editorial rating | = 4.4/5 | = 4.4/5 |
Benefits compared
Bank of America Premium Rewards
- 2x on travel + dining
- 1.5x on everything else
- Up to 75% bonus for Preferred Rewards (Platinum Honors tier)
- $100 annual airline incidental credit
- $100 Global Entry/TSA PreCheck credit
US Bank Cash+
- 5% on 2 categories you choose ($2,000 quarterly cap)
- 2% on 1 chosen everyday category (gas, grocery, restaurants)
- 1% on everything else
- No annual fee
- Quarterly category swap
FAQ
›Bank of America Premium Rewards vs US Bank Cash+: which is better?
US Bank Cash+ wins on more dimensions (3 vs 2). But the right answer depends on your specific spending pattern. Run your own monthly spend through the maximizer to see which one pays you more.
›Can I get both?
Yes, if your credit profile supports it, holding both is the optimal play. Use Bank of America Premium Rewards for its best categories, US Bank Cash+ for its best categories. Just watch the combined annual fees against your spend.
›Which one has the better welcome bonus?
Bank of America Premium Rewards: 60,000 points after $4,000 spend in 90 days. US Bank Cash+: $200 statement credit after $1,000 spend in 120 days.