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Bank of America® Premium Rewards® credit card vs. PenFed Pathfinder Rewards American Express® Card
PenFed will reopen its card for applications in early 2020.
Last updated:
While it was available, the PenFed Pathfinder Rewards American Express® Card was a powerhouse, offering up to 3x points on travel compared to the Bank of America® Premium Rewards® credit card‘s 2x points in the category — and for a $0 annual fee. Though Bank of America’s card has a $95 annual fee, it offers 2x points on dining, as well as a stronger signup bonus worth $500.
The PenFed Pathfinder Rewards American Express® Card is currently closed to applications. PenFed says it’ll re-introduce the card in early 2020.
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Bank of America® Premium Rewards® credit card
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PenFed Pathfinder Rewards American Express® Card
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|---|---|
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★★★★★ 4.3 / 5.0 |
★★★★★ 4.4 / 5.0 |
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50,000 points after spending $3,000 in the first 90 days
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25,000 points after spending $2,500 in the first 90 days |
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2x points on travel and dining and 1.5x points on all other purchases |
3x points on travel or 4x points if you’re a PenFed Honors Advantage member and 1.5x points on all other purchases |
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17.49% to 24.49% variable |
12.74% to 17.99% variable |
| $95 | $0 |
| APR: 17.49% to 24.49% variable |
APR: 0% intro APR for 12 months, then 12.74% to 17.99% variable Fee: 3% of the transaction |
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APR: 20.49% to 26.49% variable Fee: $10 or 3% of the transaction, whichever is greater |
APR: 12.74% to 17.99% variable Fee: $5 or 5% of the transaction, whichever is greater |
| None | None |
| $39 | Up to $25 |
| $0 | $0 |
| 25 days | 25 days |
| $1.50 | $0 |
| 670 | 670 |
| Credit | Credit |
| Rates & Fees | Rates & Fees |
Which card should you choose?
Bank of America® Premium Rewards® credit card
- 50,000-point signup bonus
- 2x points on travel and dining
- Up to $200 in travel statement credit
PenFed’s card offers better rewards on travel, but Bank of America’s product has elevated rewards for dining and a much stronger signup bonus. The card has a $95 annual fee, while its competitor doesn’t.
PenFed Pathfinder Rewards American Express® Card
- 25,000-point welcome offer
- Up to 3x points on travel
- Intro APR on balance transfers
PenFed’s travel card is a powerful product. You’ll receive 4x points on travel if you’re a PenFed Honors Advantage member, a rate that handily beats what Bank of America’s card offers. Though it has a much weaker welcome offer than its competitor, the PenFed Pathfinder Rewards American Express® Card offers similar travel credits. It also offers a $0 annual fee and an intro APR on balance transfers, which Bank of America’s product doesn’t have.
What’s next?
There’s a lot to compare between these two cards. You might want to start with the annual fee, then consider the rewards you’ll earn. Also, look at each card’s signup bonus and whether you want an intro APR on balance transfers.
Not sure about either product? There are many other excellent travel cards to choose from that you can compare today.
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