Wells Fargo Active Cash vs Bank of America Premium Rewards
Side-by-side comparison across fees, rewards, welcome bonuses, and eligibility.
Wells Fargo Active Cash wins 4-1. No-fee 2% flat — competitive with Citi Double Cash. 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 | Wells Fargo Active Cash | Bank of America Premium Rewards |
|---|---|---|
| Annual fee | No annual fee | · $95 |
| Joining fee | = None | = None |
| Top reward rate | = 2% (general) | = 2% (travel) |
| Base reward rate | 2% | · 1.5% |
| Forex markup | · 3% | No FX fee |
| Welcome bonus | = $200 cashback after $500 in first 3 months | = 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
Wells Fargo Active Cash
- 2% unlimited cashback on every purchase
- No annual fee
- 0% intro APR for 12 months
- Cell phone protection (up to $600/claim)
- Visa Signature concierge
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
›Wells Fargo Active Cash vs Bank of America Premium Rewards: which is better?
Wells Fargo Active Cash wins on more dimensions (4 vs 1). 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 Wells Fargo Active Cash 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?
Wells Fargo Active Cash: $200 cashback after $500 in first 3 months. Bank of America Premium Rewards: 60,000 points after $4,000 spend in 90 days.