The Platinum Card from American Express vs Bank of America Customized Cash Rewards Credit Card
Annual fees: The Platinum Card from American Express $895/yr, Bank of America Customized Cash Rewards Credit Card $0/yr. Strongest bonus categories: The Platinum Card from American Express on hotels, Bank of America Customized Cash Rewards Credit Card on dining.
Card data as of October 12, 2026.
- The Platinum Card from American Express
American Express · $895/yr
Bank of America Customized Cash Rewards Credit CardBank of America · No annual fee
Overview
- Annual fee
- The Platinum Card from American Express$895Bank of America Customized Cash Rewards Credit Card$0Lowest
- Welcome offerCurrent public offer
- The Platinum Card from American ExpressAs high as 175,000 points — offers varyBank of America Customized Cash Rewards Credit Card$200 cash back
- Rewards
- The Platinum Card from American ExpressAmerican Express Membership RewardsBank of America Customized Cash Rewards Credit CardCash back
- Foreign transaction fee
- The Platinum Card from American ExpressNoneLowestBank of America Customized Cash Rewards Credit Card3%
- Network
- The Platinum Card from American ExpressAmerican ExpressBank of America Customized Cash Rewards Credit CardVisa Signature
Earn ratesPer $1 spent · points and cash back aren’t ranked against each other
- Flights
- The Platinum Card from American Express5xBank of America Customized Cash Rewards Credit Card1%
- Cable TV
- The Platinum Card from American Express1xBank of America Customized Cash Rewards Credit Card3%
- Dining
- The Platinum Card from American Express1xBank of America Customized Cash Rewards Credit Card3%
- Drugstores
- The Platinum Card from American Express1xBank of America Customized Cash Rewards Credit Card3%
- Gas Stations
- The Platinum Card from American Express1xBank of America Customized Cash Rewards Credit Card3%
- Home Improvement
- The Platinum Card from American Express1xBank of America Customized Cash Rewards Credit Card3%
- Online Shopping
- The Platinum Card from American Express1xBank of America Customized Cash Rewards Credit Card3%
- Travel
- The Platinum Card from American Express1xBank of America Customized Cash Rewards Credit Card3%
- Grocery Stores
- The Platinum Card from American Express1xBank of America Customized Cash Rewards Credit Card2%
- Wholesale Clubs
- The Platinum Card from American Express1xBank of America Customized Cash Rewards Credit Card2%
- Hotels
- The Platinum Card from American Express1xBank of America Customized Cash Rewards Credit Card1%
- Everything else
- The Platinum Card from American Express1xBank of America Customized Cash Rewards Credit Card1%
Statement creditsAs the issuer states them · — means none on record
- Travel
- The Platinum Card from American Express
- $600 hotel credit
- $219 CLEAR Plus credit
- $200 airline credit
- $120 Global Entry or up to $85 TSA PreCheck / 4 years · $120 every 4 years
Bank of America Customized Cash Rewards Credit Card— - Rideshare & transit
- The Platinum Card from American Express
- $200 Uber Cash
- $120 Uber One credit
Bank of America Customized Cash Rewards Credit Card— - Dining & delivery
- The Platinum Card from American Express
- $400 Resy credit
Bank of America Customized Cash Rewards Credit Card— - Entertainment & streaming
- The Platinum Card from American Express
- $300 streaming credit
Bank of America Customized Cash Rewards Credit Card— - Shopping & wellness
- The Platinum Card from American Express
- $300 Equinox credit
- $300 Lululemon credit
- $200 Oura Ring credit
- $155 Walmart+ credit
Bank of America Customized Cash Rewards Credit Card— - Other credits
- The Platinum Card from American Express—Bank of America Customized Cash Rewards Credit Card
- 0% APR 15 months
Perks & access— means none on record
- Lounges
- The Platinum Card from American Express
- Airspace Lounge access at US airports with 2 guests
- 26 Centurion Lounges worldwide with premium dining
- 10 Delta Sky Club visits per year when flying Delta
- Escape Lounge access at US airports with food and beverages
- International Amex Lounges at select global airports
- Global Lounge Collection with 1,550+ airport lounges
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- Lufthansa Business Lounge access on Lufthansa Group
- Plaza Premium Lounge access at airports with Global Lounge
- Priority Pass Select with 1,300+ lounges globally
Bank of America Customized Cash Rewards Credit Card— - Hotel status & programs
- The Platinum Card from American Express
- Hilton Gold with 80% bonus points and breakfast
- Leaders Club Sterling Status at Leading Hotels
- Marriott Gold with 25% bonus points and upgrades
- Fine Hotels + Resorts: $100 credits and upgrades
- Hotel Collection access with room upgrades and credits
Bank of America Customized Cash Rewards Credit Card— - Airline perks
- The Platinum Card from American Express
- International Airline Program 5-40% off premium cabins
Bank of America Customized Cash Rewards Credit Card— - Car rental
- The Platinum Card from American Express
- Elite status with Hertz, National, Avis for upgrades
Bank of America Customized Cash Rewards Credit Card— - Other perks
- The Platinum Card from American Express
- Amex Offers
- 24/7 premium travel assistance with medical transport
- Premium Events Collection™
- Early access to concerts and events
- 24/7 Platinum Concierge for travel and lifestyle help
- Free expedited card replacement in 24-48 hours worldwide
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- Entertainment access with exclusive presales and VIP events
- No foreign transaction fees on international purchases save
- Roadside assistance with up to 4 service calls per year
- Platinum Nights by Resy
- Platinum Travel Service
Bank of America Customized Cash Rewards Credit Card- No annual fee
Protections & insuranceLimits where published · — means none on record
- Trip insurance
- The Platinum Card from American Express
- $10,000 trip cancellation coverage per covered trip
- $500 trip delay Cover for delays exceeding 6 hours
Bank of America Customized Cash Rewards Credit Card— - Baggage
- The Platinum Card from American Express
- $3,000 baggage insurance for lost or damaged bags
Bank of America Customized Cash Rewards Credit Card— - Rental car
- The Platinum Card from American Express
- $100,000 primary rental car coverage for $20-$25/rental
- $75,000 car rental loss and damage insurance
Bank of America Customized Cash Rewards Credit Card— - Purchase & returns
- The Platinum Card from American Express
- $10,000 purchase Cover against theft and damage for 90 days
- $300 return Cover when merchants won't accept returns within
Bank of America Customized Cash Rewards Credit Card- Visa Signature purchase protection
- Extended warranty
- The Platinum Card from American Express
- Extended warranty adds 1 year to warranties under 5 years
Bank of America Customized Cash Rewards Credit Card— - Cell phone
- The Platinum Card from American Express
- $800 cell phone protection with $50 deductible
Bank of America Customized Cash Rewards Credit Card— - Other protections
- The Platinum Card from American Express
- Zero liability protection on fraudulent charges
- Global Assist Hotline with 24/7 emergency help traveling
Bank of America Customized Cash Rewards Credit Card—
Pros & cons
- Pros
- The Platinum Card from American Express
- Access to 9 lounge networks including exclusive Centurion Lounges with 2 guests free
- $200/year Uber Cash plus a $120 Uber One membership credit
- $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
Bank of America Customized Cash Rewards Credit Card- 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
- The Platinum Card from American Express
- $895 annual fee requires significant credit utilization to break even
- Many credits require specific merchants (Resy, Equinox, lululemon, Oura)
- 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
Bank of America Customized Cash Rewards Credit Card- 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
Category-by-Category Winner
No unconditional category winner — 11 categories depend on how you earn.
Hotels
Depends: via amextravel
The Platinum Card from American Express earns 5X when conditions are met; Bank of America Customized Cash Rewards Credit Card earns 1X (1X without restrictions)
Flights
Depends: via AmexTravel; up to $500,000/yr
The Platinum Card from American Express earns 5X when conditions are met; Bank of America Customized Cash Rewards Credit Card earns 1X (1X without restrictions)
Dining
Depends: up to $2,500/quarter
Bank of America Customized Cash Rewards Credit Card earns 3X when conditions are met; The Platinum Card from American Express earns 1X (1X without restrictions)
Drugstores
Depends: up to $2,500/quarter
Bank of America Customized Cash Rewards Credit Card earns 3X when conditions are met; The Platinum Card from American Express earns 1X (1X without restrictions)
Gas Stations
Depends: up to $2,500/quarter
Bank of America Customized Cash Rewards Credit Card earns 3X when conditions are met; The Platinum Card from American Express earns 1X (1X without restrictions)
Home Improvement
Depends: up to $2,500/quarter
Bank of America Customized Cash Rewards Credit Card earns 3X when conditions are met; The Platinum Card from American Express earns 1X (1X without restrictions)
Online Shopping
Depends: up to $2,500/quarter
Bank of America Customized Cash Rewards Credit Card earns 3X when conditions are met; The Platinum Card from American Express earns 1X (1X without restrictions)
Cable TV
Depends: up to $2,500/quarter
Bank of America Customized Cash Rewards Credit Card earns 3X when conditions are met; The Platinum Card from American Express earns 1X (1X without restrictions)
Travel
Depends: up to $2,500/quarter
Bank of America Customized Cash Rewards Credit Card earns 3X when conditions are met; The Platinum Card from American Express earns 1X (1X without restrictions)
Grocery Stores
Depends: up to $2,500/quarter
Bank of America Customized Cash Rewards Credit Card earns 2X when conditions are met; The Platinum Card from American Express earns 1X (1X without restrictions)
Wholesale Clubs
Depends: up to $2,500/quarter
Bank of America Customized Cash Rewards Credit Card earns 2X when conditions are met; The Platinum Card from American Express earns 1X (1X without restrictions)
Year One vs Ongoing Value
Modeled net value (bonus categories at unconditional rates, caps applied). Spend mix: dining 15%, groceries 15%, gas 10%, travel 10%, everything else 50%. Statement credits use the same recurring usable estimates as each card's detail page; first-year-only credits count in year one only. Welcome offers valued at each card's program rate shown on this page.
Modeled value is close across spend levels — especially once statement credits are counted.
| Scenario | The Platinum Card from American Express | Bank of America Customized Cash Rewards Credit Card | Ongoing winner | Year-one winner |
|---|---|---|---|---|
| Light spender: $1,000/month | Rewards: $180 Credits (our usable estimate): $1,356 − Annual fee ($895) Ongoing: $641 Year one: $641 | Rewards: $120 Credits (our usable estimate): $0 − Annual fee ($0) Ongoing: $120 Year one: $320 | Close — depends on how much of the credits you use | Close — depends on how much of the credits you use |
| Heavy spender: $4,000/month | Rewards: $720 Credits (our usable estimate): $1,356 − Annual fee ($895) Ongoing: $1,181 Year one: $1,181 | Rewards: $480 Credits (our usable estimate): $0 − Annual fee ($0) Ongoing: $480 Year one: $680 | The Platinum Card from American Express | Close — depends on how much of the credits you use |
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 includes travel credits, dining credits, lounge access, Global Entry/TSA PreCheck credit, complimentary hotel status. Those perks are not included in the earn-rate scenario table above — compare their dollar value to the $895 fee gap for your own usage.
Bottom line: Use the year-one vs ongoing table for modeled earn value at your spend level. The $895 fee gap means the The Platinum Card from American Express needs roughly $895 more in annual rewards (or credits you will use) to break even on hotels and flights and everyday spend.
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
- -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
The Bottom Line
Modeled value is close across spend levels — especially once statement credits are counted.
Published annual fees: The Platinum Card from American Express $895/yr, Bank of America Customized Cash Rewards Credit Card $0/yr — a $895 difference before welcome offers and credits.
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. Compare the year-one vs ongoing value table on this page — the $895 gap must be offset by higher earn rates, welcome offers, or credits you will use (the The Platinum Card from American Express also lists lounge access, travel credits, dining credits).
- Which card earns more rewards, the The Platinum Card from American Express or Bank of America Customized Cash Rewards Credit Card?
- Both cards earn 1X on everyday purchases. The difference is in bonus categories — check the earn rate comparison above for a full breakdown.
- 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, travel credits, dining credits, cell phone protection. 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?
- Use the spend scenarios on this page: the Bank of America Customized Cash Rewards Credit Card has a lower $0/yr fee; the The Platinum Card from American Express must earn enough extra (or offer a larger welcome bonus) to justify $895/yr.
Related Comparisons
Editorial disclosure: CardRewards.ai is an independent comparison service. Card data comes from issuers' published terms; catalog last published October 12, 2026, and each card page shows when its terms were last checked. Card issuers do not influence our rankings or content.