Credit Cards » Compare Credit Cards » Citi vs. BofA Credit Cards Comparison: Which Bank Wins?

Citi vs. BofA Credit Cards Comparison: Which Bank Wins?

While Citi has long been the leader, BofA has recently launched some new cards which change the picture entirely. Here's why

Article update: June 5, 2024

Article update:June 5, 2024

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Whether you’re a frequent traveler looking to earn miles, a shopper seeking cash rewards, or someone needing a card with a low introductory APR, understanding the differences and similarities between Citibank and Bank of America can guide you toward the best credit card choice for your financial lifestyle.

This article delves into an in-depth comparison of Citibank and Bank of America’s credit card portfolios

BofA vs. Citibank: Which Offers Better Cashback Card?

Both Citi and BofA offer various options for consumers looking for a cashback card with no annual fee.

For those who don't want to track categories and prefer flexibility, there are two relevant cards – the Bank Of America Unlimited Cash Rewards, and the Citi Double Cash card. Both cards offer 0% intro APR as well, but the Double Cash offers a bit higher rewards ratio compared to the BofA Unlimited card.

If you have preferred categories that you spend on mostly, the BofA Customized Cash Rewards and the Citi Custom Cash offer higher cashback rates on specific categories. While the Custom Cash cashback rate is higher, its cap is much lower than the Customized Cash Rewards card.


	Bank of America® Customized Cash Rewards credit card	Bank of America Unlimited Cash Rewards	Citi® Double Cash Card	Citi Custom Cash℠ Card
Annual Fee	$0	$0	$0	$0
Rewards	1-3% 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings, 2% cash back at grocery stores and wholesale clubs and 1% cash back on all other purchases. The 3% and 2% cash back available on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter (then 1%)	1.5% unlimited 1.5% cash back on all purchases	1% – 2% 2% cash back rewards rate – 1% every time you swipe and another 1% upon payment.	1-5% 5% cash back on your highest eligible spend category each billing cycle up to the first $500 spent and 1% cash back thereafter
Welcome bonus	$200 $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening	$200 $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening	N/A $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening	$200 $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening (20,000 ThankYou® Points, which can be redeemed for $200 cash back)
0% Intro APR	15 billing cycles on purchases	18 billing cycles for purchases, 60 days on balance transfers	18 months on balance transfers	15 months on purchases and balance transfers
Foreign Transaction Fee	3%	3%	3%	3%
Purchase APR	18.24% – 28.24% Variable APR will apply. A 3% fee (min $0) applies to all balance transfers	18 billing cycles for purchases, 60 days on balance transfers	19.24% – 29.24% (Variable)	19.24% – 29.24% (Variable)
	Read Review	Read Review	Read Review	Read Review

Basic Travel Cards: BofA Travel Rewards or Citi Rewrads+

In this battle, we think the Citi Rewards+ is the best choice for low—to mid-tier travel credit cards.

Like the BofA Travel Rewards card, it offers 0% introductory APR and has no annual fee. However, i its rewards program is much better. If you frequently use your card for travel expenses, gas, or groceries, the Citi Rewards+ is a better option.


	Citi Rewards+® Card	Bank Of America Travel Rewards
Annual Fee	$0	$0
Rewards	1X – 5X Earn 5X points on rental car, hotel and attraction purchases booked through cititravel.com (ends 12/31/2025), 2X points at supermarkets and gas stations (on up to $6,000 in purchases per year, then 1X points) with 1X points on all other purchases	1.5X 1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points
Welcome bonus	20,000 points Earn 20,000 bonus points after you spend $1,500 in purchases with your card within three months of account opening; redeemable for $200 in gift cards at thankyou.com	25,000 points 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – which can be redeemed for a $250 statement credit toward travel purchases
0% Intro APR	15 months on purchases and balance transfers	15 billing cycles on purchases and balance transfers
Foreign Transaction Fee	3%	$0
Purchase APR	18.74% – 28.74% (Variable)	18.24% – 28.24% Variable APR will apply.
	Read Review	Read Review

0% Intro APR: Citi Simplcity vs. Diamond vs. Bank Americard

If you need a balance transfer card with a long 0% introductory APR, all cards offer some of the longest in the industry. Citi has two options – the Simplicity card and the Diamond preferred card, while BofA Bank Americard is the main competitor on the other hand.

However, we think that BankAmericard is the clear winner here due to a complete package (long 0% intro on both purchases and balance transfers) as well as a lower balance transfer fee.


	Citi Simplicity® Card	Citi® Diamond Preferred® Card	BankAmericard
Annual Fee	$0	$0	$0
Rewards	None	None	N/A
0% Intro APR	12 months on purchases and 21 months on balance transfers	21 months on balance transfers and 12 months on purchases	21 billing cycles on purchases and balance transfers made within the first 60 days
Balance Transfer Fee	$5 or 5% (whichever is greater)	$5 or 5% (the greater)	3% or $10, whichever is greater
Foreign Transaction Fee	3%	3%	3%
Purchase APR	19.24% – 29.99% (Variable)	18.24% – 28.99% (Variable)	16.24% – 26.24% Variable APR.
	Read Review	Read Review	Read Review

Premium Travel: Citi Rewards+ vs. BofA Premium Rewards

When it comes to premium travel cards providing, there are three main options.

The mid-tier cards include the Citi Strata Premier card and the Bank of America® Premium Rewards card. Both carry similar annual fees, but the Citi Strata card seems to have a better reward structure for travelers with no foreign transaction fees.

With both cards, points can be redeemed for cashback, travel, and gift cards.

The third card is more luxurious. The Bank of America Premium Rewards Elite card provides several valuable credits: $300 in statement credits for airline incidentals such as seat upgrades and baggage fees, $150 for lifestyle services like streaming and food delivery, and $100 every four years for Global Entry or TSA PreCheck® application fees.

That being said, we don't think it's worth the annual fee, especially compared to other luxury travel cards with the same pricing category.


	Citi Strata Premier℠ Credit Card	Bank of America® Premium Rewards credit card
Annual Fee	$95	$95
Rewards	1X – 10X 10X per dollar on hotel, car rentals and attractions booked through CitiTravel.com, 3X points on restaurant, supermarket, gas station, and air travel and other hotels purchases, and 1X points per dollar on all other purchases	1.5X – 2X Unlimited 2X points on travel and dining purchases. Unlimited 1.5X points on all other purchases
Welcome bonus	75,000 points 75,000 bonus points after spending $4,000 in the first 3 months of account opening, redeemable for $750 in gift cards or travel rewards on thankyou.com	60,000 points 60,000 online bonus points for spending $4,000 on new purchases in the first 90 days of opening their card account.
0% Intro APR	None	N/A
Foreign Transaction Fee	$0	3%
Where To Redeem Rewards	Citi ThankYou® Rewards	Bank of America Preferred Rewards
Purchase APR	21.24% – 29.24% (Variable)	18.24% – 28.24% variable APR on purchases and balance transfers
	Read Review	Read Review

Bottom Line

Both Citi and Bank Of America offer a variety of cards for almost any purpose.

While Citi has been the leader in the category for a long time, BofA has recently launched some new and interesting cards, which make it a strong competitor and even the leader in some categories.

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor. Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.

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Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Credit Card Reviews Methodology

In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.

Citi vs. BofA Credit Cards Comparison: Which Bank Wins?

Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Table Of Content

BofA vs. Citibank: Which Offers Better Cashback Card?

Basic Travel Cards: BofA Travel Rewards or Citi Rewrads+

0% Intro APR: Citi Simplcity vs. Diamond vs. Bank Americard

Premium Travel: Citi Rewards+ vs. BofA Premium Rewards

Bottom Line

Baruch Mann (Silvermann)

Credit Card Reviews Methodology

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