Compare the Features and Benefits of Amazon Prime Visa and
Bank of America® Premium Rewards® credit card

As much as we love rewards credit cards with transferable bank points, for heavy Amazon or Whole Foods shoppers, it’s hard to deny that 5% cash back on all of these purchases with the Prime Visa (as long as you have an eligible Amazon Prime membership!) is pretty awesome.

I know some people that do absolutely all of their grocery shopping at Whole Foods and as much shopping as possible at Amazon. If this is you, the Prime Visa credit card is probably a no brainer, especially with no annual fee, no foreign transaction fees, and a wide range of consumer protections like extended warranty, purchase protection (which covers your new purchases for 120 days against damage or theft up to $500 per claim and $50,000 per account) and trip protections, although note that the trip protections aren’t nearly as rich as on many travel specific credit cards.

As a reminder, you’ll earn an unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market, and on Chase Travel purchases with an eligible Prime membership and an unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare).

You’ll earn ah unlimited 1% back on all other purchases, so you may want to combo this card with a card that earns 2% back on categories not bonused on this card.

The market for premium travel rewards cards is crowded, and every major card issuer has a product with an annual fee of $95, or close to it. While not a creative name for a card in this class, the Bank of America® Premium Rewards® credit card appeals to those who want the cardholder benefits of premium card, but are happy to earn cash back rewards instead points that can be transferred to frequent flier miles or points with hotel programs.

This card earns double points on all travel and dining purchases, and 1.5 points per dollar spent everywhere else. But rather than being just travel rewards points, these points can be redeemed for one cent each as statement credits, bank deposits, gift cards or travel reservations.

So far, this is pretty similar to the no-fee Bank of America Travel Rewards card. But what makes this card “premium” are its benefits.

To start off with, you receive up to a $100 credit towards the application fees of TSA PreCheck or Global Entry, which includes PreCheck. These services are used by frequent travelers to speed themselves through the lines at the airport.

You also receive up to a $100 credit towards airline incidental fees. These are the charges for things like luggage or seat selection that everyone hates, and those who use this fee each year will completely offset this card’s $95 annual fee.

It also includes an entire range of travel insurance policies such as trip delay reimbursement, trip cancellation and interruption coverage, and lost or delayed baggage reimbursement. It even comes with emergency evacuation insurance, a feature only found on a fraction of the top credit cards with annual fees over $500.

Purchase protection and extended warranty coverage are also included.

In the end, you have a card that offers a fairly simple cash back rewards program, similar to what you would find on a no fee card. But at the same time, it has all the fee credits, travel insurance and purchase protection features you’d expect to find on a much more expensive credit card.

Anyone who travels regularly, even if not frequently, will find these benefits to be worth its modest annual fee.