Discover it Cash Back vs Bank of America Premium Rewards
Side-by-side comparison across fees, rewards, welcome bonuses, and eligibility.
Discover it Cash Back wins 4-2. Rotating-category optimizers; first card for thin-credit-file applicants Bank of America Premium Rewards is still the right call if boa preferred rewards clients — up to 2.625x with $100k relationship..
Side-by-side
| Criterion | Discover it Cash Back | Bank of America Premium Rewards |
|---|---|---|
| Annual fee | No annual fee | · $95 |
| Joining fee | = None | = None |
| Top reward rate | 5% (shopping) | · 2% (travel) |
| Base reward rate | · 1% | 1.5% |
| Forex markup | · 1% | No FX fee |
| Welcome bonus | = Cashback Match — Discover doubles your first-year cashback automatically | = 60,000 points after $4,000 spend in 90 days |
| Fee waiver threshold | = N/A (no fee) | = No waiver |
| Min income | = — | = — |
| Min credit score | 670 | · 720 |
| Editorial rating | 4.5/5 | · 4.4/5 |
Benefits compared
Discover it Cash Back
- 5% cashback on rotating quarterly categories (Amazon, gas, restaurants, grocery)
- 1% cashback on everything else
- Cashback Match: Discover matches all cash back earned in your first year
- No annual fee
- Free FICO score on every statement
- No foreign transaction fees
Bank of America Premium Rewards
- 2x on travel + dining
- 1.5x on everything else
- Up to 75% bonus for Preferred Rewards (Platinum Honors tier)
- $100 annual airline incidental credit
- $100 Global Entry/TSA PreCheck credit
FAQ
›Discover it Cash Back vs Bank of America Premium Rewards: which is better?
Discover it Cash Back wins on more dimensions (4 vs 2). But the right answer depends on your specific spending pattern — see the calculator below.
›Can I get both?
Yes — if your credit profile supports it, holding both is the optimal play. Use Discover it Cash Back for its best categories, Bank of America Premium Rewards for its best categories. Just watch the combined annual fees against your spend.
›Which one has the better welcome bonus?
Discover it Cash Back: Cashback Match — Discover doubles your first-year cashback automatically. Bank of America Premium Rewards: 60,000 points after $4,000 spend in 90 days.