Beta

Free during beta. Plus launches at $12/mo or $99/yr on July 1. Annual is locked for 12 months during beta.

Skip to content
RewardZ Travel
All credit cards
Side-by-side

American Express Schwab Investor Card vs Bank of America Premium Rewards

Both are travel travel cards. The American Express Schwab Investor Card comes from American Express at $0/yr; the Bank of America Premium Rewards from Bank of America at $95/yr. Below: side-by-side specs, an opinionated verdict, and the FAQs people actually ask before applying.

Bottom line

These cards are close on the fundamentals (similar bonus value, similar fee). The right pick depends on which category you spend the most in and which transfer partners best fit your travel goals.

FeatureAmerican Express Schwab Investor CardBank of America Premium Rewards
Annual fee$0$95
Sign-up bonus10,000 Membership Rewards pointsNot advertised
Bonus value (est.)$110-
Min spend to unlock bonus$1,000 in 6 mo-
IssuerAmerican ExpressBank of America
Card categorytraveltravel
Best earning category (All_purchases)1.5x1x
Transfer partnersamex-mrNone
Headline benefits
  • 1.5X MR on everything
  • $0 annual fee
  • 1.0c/pt Invest with Rewards
  • Full MR transfer partners
  • 2x travel + dining
  • $100 airline credit
  • Preferred Rewards boost
  • No foreign tx fees
Read the full review
American Express Schwab Investor Card
$0/yr · 10,000 Membership Rewards points
Read the full review
Bank of America Premium Rewards
$95/yr ·

Editorial take: American Express Schwab Investor Card

The hidden gem of the Amex MR lineup for Schwab brokerage customers. Flat 1.5X MR with $0 annual fee, full transfer-partner access, AND a 1.0 cents-per-point cash-into-brokerage redemption guarantees you can always extract real cash. The catch: you need a Schwab brokerage account to apply.

Editorial take: Bank of America Premium Rewards

Only a standout if you're a BoA Preferred Rewards member, that boost can push earnings to 2.625x on everything, 3.5x on travel and dining. Without it, Venture and Sapphire both beat it.

Common questions

Which card has the bigger sign-up bonus, American Express Schwab Investor Card or Bank of America Premium Rewards?
The American Express Schwab Investor Card has a public bonus (10,000 Membership Rewards points, worth roughly $110), while the Bank of America Premium Rewards doesn't advertise one right now.
Is the American Express Schwab Investor Card's $0 annual fee worth it compared to the Bank of America Premium Rewards?
The American Express Schwab Investor Card has no annual fee, so the question is whether the Bank of America Premium Rewards's $95 fee is justified by its perks. If you'll use enough of the Bank of America Premium Rewards's benefits to clear $95 in value annually, it's worth it; otherwise stick with the American Express Schwab Investor Card.
Can I have both the American Express Schwab Investor Card and Bank of America Premium Rewards?
Yes, since they're from different issuers (American Express and Bank of America) the application rules don't conflict. Many points enthusiasts hold both, they pair well when one earns flexible bank points and the other earns a different currency.
Should I get the American Express Schwab Investor Card or the Bank of America Premium Rewards first?
Get the one whose sign-up bonus you can hit comfortably without overspending. American Express Schwab Investor Card: $1,000 spend in 6 months. Bank of America Premium Rewards: no published min spend. Pick the easier minimum spend if you're new to points; pick the larger bonus if you have planned big purchases coming up.

Card details on this page reflect the most recent data we've verified against the issuer's own site. Sign-up bonuses and fees can change at any time, confirm the current offer on the issuer's page before applying.