Is the The Platinum Card from American Express worth the higher annual fee?

The The Platinum Card from American Express costs $895/yr vs $0/yr for the Bank of America Customized Cash Rewards Credit Card. The higher fee includes lounge access that can offset the cost for frequent travelers.

Which card earns more rewards, the The Platinum Card from American Express or Bank of America Customized Cash Rewards Credit Card?

The The Platinum Card from American Express has a higher base earn rate (1X vs 0X), but both cards have different bonus categories where they excel.

What benefits does the The Platinum Card from American Express have that the Bank of America Customized Cash Rewards Credit Card doesn't?

The The Platinum Card from American Express offers lounge access. The Bank of America Customized Cash Rewards Credit Card focuses more on earn rates than premium perks.

Should I get the The Platinum Card from American Express or the Bank of America Customized Cash Rewards Credit Card?

Choose the Bank of America Customized Cash Rewards Credit Card if you want lower fees and solid rewards. Pick the The Platinum Card from American Express if you spend enough to justify the $895/yr fee through its premium benefits and higher earn rates.

Is the The Platinum Card from American Express worth the higher annual fee?

The The Platinum Card from American Express costs $895/yr vs $0/yr for the Bank of America Customized Cash Rewards Credit Card. The higher fee includes lounge access that can offset the cost for frequent travelers.

Which card earns more rewards, the The Platinum Card from American Express or Bank of America Customized Cash Rewards Credit Card?

The The Platinum Card from American Express has a higher base earn rate (1X vs 0X), but both cards have different bonus categories where they excel.

What benefits does the The Platinum Card from American Express have that the Bank of America Customized Cash Rewards Credit Card doesn't?

The The Platinum Card from American Express offers lounge access. The Bank of America Customized Cash Rewards Credit Card focuses more on earn rates than premium perks.

Should I get the The Platinum Card from American Express or the Bank of America Customized Cash Rewards Credit Card?

Choose the Bank of America Customized Cash Rewards Credit Card if you want lower fees and solid rewards. Pick the The Platinum Card from American Express if you spend enough to justify the $895/yr fee through its premium benefits and higher earn rates.

Is the The Platinum Card from American Express worth the higher annual fee?

The The Platinum Card from American Express costs $895/yr vs $0/yr for the Bank of America Customized Cash Rewards Credit Card. The higher fee includes lounge access that can offset the cost for frequent travelers.

Which card earns more rewards, the The Platinum Card from American Express or Bank of America Customized Cash Rewards Credit Card?

The The Platinum Card from American Express has a higher base earn rate (1X vs 0X), but both cards have different bonus categories where they excel.

What benefits does the The Platinum Card from American Express have that the Bank of America Customized Cash Rewards Credit Card doesn't?

The The Platinum Card from American Express offers lounge access. The Bank of America Customized Cash Rewards Credit Card focuses more on earn rates than premium perks.

Should I get the The Platinum Card from American Express or the Bank of America Customized Cash Rewards Credit Card?

Choose the Bank of America Customized Cash Rewards Credit Card if you want lower fees and solid rewards. Pick the The Platinum Card from American Express if you spend enough to justify the $895/yr fee through its premium benefits and higher earn rates.

CardRewards

Editorial disclosure: CardRewards.ai is an independent comparison service. Our analysis is based on publicly available card data and is reviewed regularly by our editorial team. Card issuers do not influence our rankings or content. Last updated: May 2026.

The Platinum Card from American Express vs Bank of America Customized Cash Rewards Credit Card

The Bank of America Customized Cash Rewards Credit Card ($0/yr) is better for everyday value, while the The Platinum Card from American Express ($895/yr) is worth it for frequent travelers who can use its premium perks. Here's the full comparison.

No image

The Platinum Card from American Express

American Express

Bank of America Customized Cash Rewards Credit Card

Bank of America

Fees & Welcome Offer

Annual Fee

$895

Welcome Bonus

80,000 Flex point

—

Earn Rates

Category	The Platinum Card from American Express	Bank of America Customized Cash Rewards Credit Card
Flights	5X	1X
Dining

Category-by-Category Winner

The Bank of America Customized Cash Rewards Credit Card wins in 10 of 11 categories. The The Platinum Card from American Express leads in 1.

Flights

The Platinum Card from American Express earns 5X vs 1X

Dining

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Drugstores

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Gas Stations

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Home Improvement

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Online Shopping

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Streaming

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Telecom

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

The Bottom Line

The Bank of America Customized Cash Rewards Credit Card has a lower annual fee ($0 vs $895), making it the more accessible option.

The The Platinum Card from American Express justifies its higher fee with premium perks like lounge access.

Choose the Bank of America Customized Cash Rewards Credit Card if you want solid rewards with a lower cost of entry. Choose the The Platinum Card from American Express if you travel frequently and can maximize its premium benefits.

Frequently Asked Questions

Is the The Platinum Card from American Express worth the higher annual fee?: The The Platinum Card from American Express costs $895/yr vs $0/yr for the Bank of America Customized Cash Rewards Credit Card. The higher fee includes lounge access that can offset the cost for frequent travelers.
Which card earns more rewards, the The Platinum Card from American Express or Bank of America Customized Cash Rewards Credit Card?: The The Platinum Card from American Express has a higher base earn rate (1X vs 0X), but both cards have different bonus categories where they excel.
What benefits does the The Platinum Card from American Express have that the Bank of America Customized Cash Rewards Credit Card doesn't?: The The Platinum Card from American Express offers lounge access. The Bank of America Customized Cash Rewards Credit Card focuses more on earn rates than premium perks.
Should I get the The Platinum Card from American Express or the Bank of America Customized Cash Rewards Credit Card?: Choose the Bank of America Customized Cash Rewards Credit Card if you want lower fees and solid rewards. Pick the The Platinum Card from American Express if you spend enough to justify the $895/yr fee through its premium benefits and higher earn rates.

Related Comparisons

Amex Blue Cash Everyday vs Bank Of America Customized Cash Amex Gold vs Amex Platinum Amex Gold vs Bank Of America Customized Cash Amex Green vs Amex Platinum

Explore More

The Platinum Card from American Express — Full Review All American Express Cards

Bank of America Customized Cash Rewards Credit Card — Full Review All Bank of America Cards

Browse all comparisons →Browse all card categories →

Official issuer pages: American Express cards · Bank of America cards

Editorial disclosure: The analysis on this page is based on publicly available card data and is updated regularly. CardRewards.ai is an independent comparison service. Card issuers do not influence our rankings or editorial content. Last updated: May 2026.

The Platinum Card from American Express vs Bank of America Customized Cash Rewards Credit Card

No image

The Platinum Card from American Express

American Express

Bank of America Customized Cash Rewards Credit Card

Bank of America

Fees & Welcome Offer

Annual Fee

$895

Welcome Bonus

80,000 Flex point

—

Earn Rates

Category	The Platinum Card from American Express	Bank of America Customized Cash Rewards Credit Card
Flights	5X	1X
Dining

Category-by-Category Winner

The Bank of America Customized Cash Rewards Credit Card wins in 10 of 11 categories. The The Platinum Card from American Express leads in 1.

Flights

The Platinum Card from American Express earns 5X vs 1X

Dining

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Drugstores

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Gas Stations

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Home Improvement

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Online Shopping

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Streaming

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Telecom

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

The Bottom Line

The Bank of America Customized Cash Rewards Credit Card has a lower annual fee ($0 vs $895), making it the more accessible option.

The The Platinum Card from American Express justifies its higher fee with premium perks like lounge access.

Frequently Asked Questions

Is the The Platinum Card from American Express worth the higher annual fee?: The The Platinum Card from American Express costs $895/yr vs $0/yr for the Bank of America Customized Cash Rewards Credit Card. The higher fee includes lounge access that can offset the cost for frequent travelers.
Which card earns more rewards, the The Platinum Card from American Express or Bank of America Customized Cash Rewards Credit Card?: The The Platinum Card from American Express has a higher base earn rate (1X vs 0X), but both cards have different bonus categories where they excel.
What benefits does the The Platinum Card from American Express have that the Bank of America Customized Cash Rewards Credit Card doesn't?: The The Platinum Card from American Express offers lounge access. The Bank of America Customized Cash Rewards Credit Card focuses more on earn rates than premium perks.
Should I get the The Platinum Card from American Express or the Bank of America Customized Cash Rewards Credit Card?: Choose the Bank of America Customized Cash Rewards Credit Card if you want lower fees and solid rewards. Pick the The Platinum Card from American Express if you spend enough to justify the $895/yr fee through its premium benefits and higher earn rates.

Related Comparisons

Amex Blue Cash Everyday vs Bank Of America Customized Cash Amex Gold vs Amex Platinum Amex Gold vs Bank Of America Customized Cash Amex Green vs Amex Platinum

Explore More

The Platinum Card from American Express — Full Review All American Express Cards

Bank of America Customized Cash Rewards Credit Card — Full Review All Bank of America Cards

Browse all comparisons →Browse all card categories →

Official issuer pages: American Express cards · Bank of America cards

The Platinum Card from American Express vs Bank of America Customized Cash Rewards Credit Card

No image

The Platinum Card from American Express

American Express

Bank of America Customized Cash Rewards Credit Card

Bank of America

Fees & Welcome Offer

Annual Fee

$895

Welcome Bonus

80,000 Flex point

—

Earn Rates

Category	The Platinum Card from American Express	Bank of America Customized Cash Rewards Credit Card
Flights	5X	1X
Dining

Category-by-Category Winner

The Bank of America Customized Cash Rewards Credit Card wins in 10 of 11 categories. The The Platinum Card from American Express leads in 1.

Flights

The Platinum Card from American Express earns 5X vs 1X

Dining

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Drugstores

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Gas Stations

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Home Improvement

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Online Shopping

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Streaming

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Telecom

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

The Bottom Line

The Bank of America Customized Cash Rewards Credit Card has a lower annual fee ($0 vs $895), making it the more accessible option.

The The Platinum Card from American Express justifies its higher fee with premium perks like lounge access.

Frequently Asked Questions

Is the The Platinum Card from American Express worth the higher annual fee?: The The Platinum Card from American Express costs $895/yr vs $0/yr for the Bank of America Customized Cash Rewards Credit Card. The higher fee includes lounge access that can offset the cost for frequent travelers.
Which card earns more rewards, the The Platinum Card from American Express or Bank of America Customized Cash Rewards Credit Card?: The The Platinum Card from American Express has a higher base earn rate (1X vs 0X), but both cards have different bonus categories where they excel.
What benefits does the The Platinum Card from American Express have that the Bank of America Customized Cash Rewards Credit Card doesn't?: The The Platinum Card from American Express offers lounge access. The Bank of America Customized Cash Rewards Credit Card focuses more on earn rates than premium perks.
Should I get the The Platinum Card from American Express or the Bank of America Customized Cash Rewards Credit Card?: Choose the Bank of America Customized Cash Rewards Credit Card if you want lower fees and solid rewards. Pick the The Platinum Card from American Express if you spend enough to justify the $895/yr fee through its premium benefits and higher earn rates.

Related Comparisons

Amex Blue Cash Everyday vs Bank Of America Customized Cash Amex Gold vs Amex Platinum Amex Gold vs Bank Of America Customized Cash Amex Green vs Amex Platinum

Explore More

The Platinum Card from American Express — Full Review All American Express Cards

Bank of America Customized Cash Rewards Credit Card — Full Review All Bank of America Cards

Browse all comparisons →Browse all card categories →

Official issuer pages: American Express cards · Bank of America cards

Benefits & Features

Network

AMEX

VISA

Key Benefits

✓Lounge access

✓Travel insurance

✓Global Entry credit

None

Pros & Cons

Pros

+Access to 9 lounge networks including exclusive Centurion Lounges with 2 guests free
+$200/year Uber credit plus complimentary Uber One membership ($168 value)
+$400/year Resy dining credit at select restaurants
+Automatic Marriott Gold and Hilton Gold status with room upgrades and breakfast
+5X points on flights booked direct or via Amex Travel

+6% cash back in choice category for first year (3% + 3% bonus)
+No annual fee
+$200 welcome bonus after $1,000 spend
+0% intro APR for 15 months on purchases and balance transfers
+Flexible category selection - change monthly

Cons

−$895 annual fee requires significant credit utilization to break even
−Many credits require specific merchants (Saks, Equinox, SoulCycle)
−Only 1X points on non-travel purchases limits everyday earning
−Secondary car rental coverage unless paying $24.95/rental for primary
−$195 authorized user fee after first 3 free cards

−3% foreign transaction fee
−$2,500 quarterly cap on bonus categories (combined choice category + grocery)
−6% rate drops to 3% after first year
−Requires monthly category management for optimal returns

Travel

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Grocery Stores

Bank of America Customized Cash Rewards Credit Card earns 2X vs 1X

Wholesale Clubs

Bank of America Customized Cash Rewards Credit Card earns 2X vs 1X

Is the Fee Difference Worth It?

The The Platinum Card from American Express costs $895/yr — that's $895 more than the Bank of America Customized Cash Rewards Credit Card (no annual fee). To justify that gap, you need to extract at least $895 in annual value from the card's higher earn rates and benefits.

The The Platinum Card from American Express offers lounge access, Global Entry/TSA PreCheck credit. Whether that justifies the fee depends on how often you use these benefits.

Bottom line: The $895 gap is significant. Choose the The Platinum Card from American Express only if you spend heavily on flights and hotels and will use its premium benefits regularly — otherwise the Bank of America Customized Cash Rewards Credit Card delivers strong value at a fraction of the cost.

What You Give Up

Choosing one card means missing out on these benefits from the other.

Choosing Bank of America Customized Cash Rewards Credit Card means losing:

-Airport lounge access
-Travel insurance
-Global Entry credit

Which Card Is Right for You?

Get the The Platinum Card from American Express if you:

+Fly frequently and value airport lounge access

Get the Bank of America Customized Cash Rewards Credit Card if you:

+Spend $300+/month on restaurants and dining out
+Do most of your spending at grocery stores
+Want strong rewards without a large annual fee commitment

Benefits & Features

Network

AMEX

VISA

Key Benefits

✓Lounge access

✓Travel insurance

✓Global Entry credit

None

Pros & Cons

Pros

+Access to 9 lounge networks including exclusive Centurion Lounges with 2 guests free
+$200/year Uber credit plus complimentary Uber One membership ($168 value)
+$400/year Resy dining credit at select restaurants
+Automatic Marriott Gold and Hilton Gold status with room upgrades and breakfast
+5X points on flights booked direct or via Amex Travel

+6% cash back in choice category for first year (3% + 3% bonus)
+No annual fee
+$200 welcome bonus after $1,000 spend
+0% intro APR for 15 months on purchases and balance transfers
+Flexible category selection - change monthly

Cons

−$895 annual fee requires significant credit utilization to break even
−Many credits require specific merchants (Saks, Equinox, SoulCycle)
−Only 1X points on non-travel purchases limits everyday earning
−Secondary car rental coverage unless paying $24.95/rental for primary
−$195 authorized user fee after first 3 free cards

−3% foreign transaction fee
−$2,500 quarterly cap on bonus categories (combined choice category + grocery)
−6% rate drops to 3% after first year
−Requires monthly category management for optimal returns

Travel

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Grocery Stores

Bank of America Customized Cash Rewards Credit Card earns 2X vs 1X

Wholesale Clubs

Bank of America Customized Cash Rewards Credit Card earns 2X vs 1X

Is the Fee Difference Worth It?

The The Platinum Card from American Express offers lounge access, Global Entry/TSA PreCheck credit. Whether that justifies the fee depends on how often you use these benefits.

What You Give Up

Choosing one card means missing out on these benefits from the other.

Choosing Bank of America Customized Cash Rewards Credit Card means losing:

-Airport lounge access
-Travel insurance
-Global Entry credit

Which Card Is Right for You?

Get the The Platinum Card from American Express if you:

+Fly frequently and value airport lounge access

Get the Bank of America Customized Cash Rewards Credit Card if you:

+Spend $300+/month on restaurants and dining out
+Do most of your spending at grocery stores
+Want strong rewards without a large annual fee commitment

Benefits & Features

Network

AMEX

VISA

Key Benefits

✓Lounge access

✓Travel insurance

✓Global Entry credit

None

Pros & Cons

Pros

+Access to 9 lounge networks including exclusive Centurion Lounges with 2 guests free
+$200/year Uber credit plus complimentary Uber One membership ($168 value)
+$400/year Resy dining credit at select restaurants
+Automatic Marriott Gold and Hilton Gold status with room upgrades and breakfast
+5X points on flights booked direct or via Amex Travel

+6% cash back in choice category for first year (3% + 3% bonus)
+No annual fee
+$200 welcome bonus after $1,000 spend
+0% intro APR for 15 months on purchases and balance transfers
+Flexible category selection - change monthly

Cons

−$895 annual fee requires significant credit utilization to break even
−Many credits require specific merchants (Saks, Equinox, SoulCycle)
−Only 1X points on non-travel purchases limits everyday earning
−Secondary car rental coverage unless paying $24.95/rental for primary
−$195 authorized user fee after first 3 free cards

−3% foreign transaction fee
−$2,500 quarterly cap on bonus categories (combined choice category + grocery)
−6% rate drops to 3% after first year
−Requires monthly category management for optimal returns

Travel

Bank of America Customized Cash Rewards Credit Card earns 3X vs 1X

Grocery Stores

Bank of America Customized Cash Rewards Credit Card earns 2X vs 1X

Wholesale Clubs

Bank of America Customized Cash Rewards Credit Card earns 2X vs 1X

Is the Fee Difference Worth It?

The The Platinum Card from American Express offers lounge access, Global Entry/TSA PreCheck credit. Whether that justifies the fee depends on how often you use these benefits.

What You Give Up

Choosing one card means missing out on these benefits from the other.

Choosing Bank of America Customized Cash Rewards Credit Card means losing:

-Airport lounge access
-Travel insurance
-Global Entry credit

Which Card Is Right for You?

Get the The Platinum Card from American Express if you:

+Fly frequently and value airport lounge access

Get the Bank of America Customized Cash Rewards Credit Card if you:

+Spend $300+/month on restaurants and dining out
+Do most of your spending at grocery stores
+Want strong rewards without a large annual fee commitment