Bank of America Credit Card

Ever since the Sapphire Reserve was released in August last year, other top-level retailers such as American Express and Citi have optimized their top-level card offers to hold their own - although early yields suggest that Chase may have trouble making cash with his big-time card. But the pitfalls of providing such profitable incentives - Chase distributed 100,000 point sign-up bonus before it was reduced to 50,000 early this year - are difficult to earn cash if clients only stay close enough to receive the bonus long enough.

How does the Bank of America differ from its card? Perhaps more to the point, however, is that the point card holders directly communicate with the cash they have at the bank and reward those who participate in their Preferred Awards programme who have lower bindings and are less likely to slice and run. "The WSJ says that at its basis, the consumer receives two reward points for travelling and eating and 1.5 for everything else - a lot like the commodity map.

However, the company also has a graduated system in which users with BofA current bank accounts can receive higher reward levels on the basis of their bank balance, with up to 3.5 or 2.6 points available to them. The system could contribute to the card attracting and stimulating profitable clients without losing the attractiveness of the masses, which would eventually lead to a widening of the subscriber base".

Here is a look at how the new Bank of America card performs compared to the Sapphire Reserve and other players in the field of credit card premiums. Download the latest Bank of America share price here.