How does the rewards program of Bank of America compare to that of Wells Fargo?

Both Bank of America and Wells Fargo offer rewards programs for their credit card users, and while there are similarities between the two, there are also some differences that may make one program more appealing than the other.

Bank of America Rewards Program

Bank of America offers several rewards credit cards, including the Bank of America Travel Rewards credit card and the Bank of America Cash Rewards credit card. With the Travel Rewards card, users earn 1.5 points for every dollar spent, and the points can be redeemed for travel purchases, such as flights, hotels, and car rentals. With the Cash Rewards card, users earn 3% cash back on purchases at gas stations and 2% cash back at grocery stores and wholesale clubs, and 1% cash back on all other purchases.

Wells Fargo Rewards Program

Wells Fargo also offers several rewards credit cards, including the Wells Fargo Propel American Express card and the Wells Fargo Cash Wise Visa card. With the Propel card, users earn 3X points for every dollar spent on dining out, ordering in, gas stations, rideshares, and transit, and 1X point for every dollar spent on all other purchases. With the Cash Wise card, users earn 1.5% cash rewards on purchases, and there is no limit to the amount of rewards that can be earned.

Comparison

Both Bank of America and Wells Fargo offer rewards programs that are competitive with other banks, and both offer a variety of credit cards to choose from. The Bank of America Cash Rewards card may be more appealing for those who spend a lot on gas, grocery stores, and wholesale clubs, while the Wells Fargo Propel card may be more appealing for those who spend a lot on dining out, gas stations, and transit. The Cash Wise card may be a good option for those who want to earn cash rewards with no limit to the amount of rewards they can earn.