Bank of America Travel Rewards Credit Card OverviewThe Bank of America Travel Rewards Credit Card is perfect for travelers who value versatility, or even casual travelers who eat more than fly. You can earn great uniform rewards on all purchases, not just travel expenses. Since this travel rewards credit card is not tied to any specific hotel or airline partner, you can book your travel with any provider and get claim credit.
Bank of America credit cards also have a looser definition of travel than credit cards from other card issuers, allowing you to get credit for shopping at campgrounds, travel agencies, zoos, art galleries, and more. However, if you put your travel plans on hold, you can also redeem points for food purchases.
However, there are no travel-specific features to speak of, and your rewards cannot be used to book travel directly through the card issuer portal or transfer partner – which could be a deal breaker for some cardholders. Unless you’re a Preferred Rewards member who needs an easy-to-manage travel card, the standard Travel Rewards card is essentially a cash-back card with flat rates and more red tape when redeeming rewards.
What are the advantages and disadvantages?
Advantages
There are no annual fees or foreign transaction fees.
Initial 0% APR on purchases over 15 billing cycles (and then variable APR from 16.24% to 26.24%).
As a Preferred Rewards member, you can increase your reward rate by up to 75%.
Redeemed points can cover travel or restaurant purchases up to 12 months ago.
Disadvantages
Introductory APRs do not apply to credit transfers
Minimum redemption requirement for travel or cash back is 2,500 points
Better travel-related category coverage, but rewards are only valuable if you’re a Preferred Rewards member.
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Quick Highlights
- Reward Rate: Unlimited 1.5 points per dollar on all purchases
- Welcome Offer: 25,000 Bonus Points on $1,000 in Purchases within 90 Days of Account Opening ($250 worth of travel purchases)
- Annual fee: none
- Introductory APR: 0% introductory APR for the purchase of 15 billing cycles
- Introduction to Balance Transfers APR: N/A
- Regular APR: 16.24% – 26.24% Variable APR
Current Welcome Offers
Bank of America currently offers 25,000 bonus points if you spend at least $1,000 on eligible purchases within 90 days of account opening. When you redeem these points for statement credit, they are worth about $250 in travel value. Considering the card has no annual fee, that’s a generous welcome offer.
Compared to other sign-up bonuses on cards with no annual fee, the $250 value is slightly higher than the $200 value you see on average. However, keep in mind that you may have to spend double to get the extra $50. Several cards like Chase Freedom Unlimited® offer up to $300 worth of cash back bonuses – earn an extra 1.5% on all your purchases (up to a $20,000 first-year spend). 6.5% for trips purchased through Chase Ultimate Rewards®, 4.5% for restaurants and pharmacies, and 3% for all other purchases.
However, you’ll likely spend at least $1,000 in the first 90 days of using your Bank of America Travel Rewards Card, so the higher spending requirement isn’t a big deal.
Response rate
This card offers a high reward rate for everyday purchases and travel booked through Bank of America, but these travel rewards work a little differently than typical bonus miles. Instead of using rewards to book travel, your Bank of America Travel Rewards is a credit for travel or restaurant purchases—meaning the card is more of a dedicated cash-back credit card.
If you’re a Preferred Rewards member, you can earn 25% to 75% more points per purchase. This means you can earn up to 2.62 points for every $1 you spend.
Here’s a quick guide to earning and maximizing your Bank of America travel rewards:
How do you earn
With the Bank of America Travel Rewards Credit Card, you can earn an unlimited 1.5 points per $1 on all purchases. You can also earn 3 points per dollar on travel bookings and other purchases made through the Bank of America Travel Center (excluding insurance).
However, if you already have an eligible Bank of America account, Bank of America’s Preferred Rewards program gives the Travel Rewards Card an edge over similar competing cards. Depending on your status level, you will earn between 25% and 75% bonus points on every purchase. This means Platinum Honors Preferred Rewards members can earn up to 2.62x points on all purchases.
How to redeem
You can redeem points for gift cards, cash, or statement credit for travel-related purchases. Even better, you can apply for credit for your travel-related purchases up to 12 months after purchase. This opens the door to special offers you may not get with other travel rewards programs, such as B. Discounted bookings through external travel sites. Remember, there is a minimum of 2,500 points to redeem for travel credits and cash, and a minimum of 3,125 points for gift cards. You can receive cash back by checking or direct deposit into an eligible Bank of America checking or savings account or an eligible Merrill Lynch cash management account.
Perhaps one of the best aspects of redeeming travel points from the Bank of America Travel Rewards Card is that it covers a wide range of shopping categories that aren’t usually considered travel or dining. For example, you can earn points for art gallery and aquarium tickets, bar and nightclub purchases, and even purchases from qualified real estate agents. Certain travel or meal-related expenses, such as in-flight goods and services and airport duty-free shopping, are not eligible for a credit on the claim. Below is a handy list of example categories where you can use Travel Credit:
Bank of America Travel Rewards Card categories are eligible for travel credit
| Eligible travel-related category examples | Eligible dining-related category examples |
|---|---|
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How much is the reward worth?
When you redeem points for travel, each point is worth 1 cent, so 25,000 points equals $250. Cash and gift cards usually give you less money. If you redeem them for cash, your points are worth only 0.6 cents each (or $150 per 25,000 points). The value of points when redeeming gift cards varies by retailer.
You may gain more flexibility in your award categories than traditional travel rewards programs from exhibitors such as Chase, but you will not be able to transfer your points to travel partners at a higher value. Bank of America Travel Rewards Card points are capped at 1 cent.
More benefits for cardholders
The Bank of America Travel Rewards Card doesn’t have the same perks as other travel-focused rewards credit cards. It offers free access to basic features like your credit score, overdraft protection, and account notifications, plus some perks beyond your preferred rewards program that might come in handy while you’re traveling.
Preferred Rewards
When you bank with Bank of America or invest with Merrill Edge, you may be eligible for the Preferred Rewards program, which gives you the opportunity to earn higher rewards rates on purchases. You can also get other benefits, such as higher interest rates on savings accounts and lower interest rates on home and auto loans.
Depending on the amount you hold in your Bank of America and Merrill Lynch joint investment account, you can earn up to 75% from credit card rewards. So if you have a total balance of at least $100,000 and make a 100 point-earning purchase, you can actually earn up to 175 points as a Platinum Honors Preferred Rewards member.
Bank of America Preferred Rewards Status Level
- Gold (minimum $20,000 total balance): 25% bonus reward
- Platinum (minimum total balance of $50,000): 50% bonus reward
- Platinum Honors (minimum total balance of $100,000): 75% bonus reward
Bank of America Transactions
Bank of America cardholders have exclusive access to BankAmeriDeals, a limited-time card-based offer from the issuer, such as Amex Offers or Chase Offers. You can log into your account and earn additional cash back (up to a limit) at participating restaurants and other retailers, usually between 5% and 15% after activating the relevant offer. BankAmeriDeals won’t make big bucks, but the “coins” you get with the program regularly can help you get better deals.
Benefits of Visa Signature
As a Visa credit card, your Bank of America Travel Rewards Card gets you a host of Visa Signature perks that can come in handy when you’re on the go. Check with your card issuer to find out what features your card offers, but expect the following standard benefits:
- Extended Warranty Protection
- Visa Signature® Concierge Service
- Curbside Dispatch®
- Lost Baggage Refund
- Travel and emergency assistance
About our museum
If you like planning day trips to popular museums, this perk is an underrated gem. Simply show your Bank of America debit or credit card and valid photo ID to get free entry to over 225 “cultural institutions” on the first weekend of every month.
Prices and Fees
One of the main advantages of the Bank of America Travel Rewards Card is that there are no fees. There are no annual fees and no outbound transaction fees, which is great news if you plan to travel abroad. There is also a 0% APR on purchases for 15 billing cycles (and then a variable ongoing APR of 16.24% – 26.24%), which helps fund larger purchases in the first year.
Another thing to consider is that this card isn’t the best choice for US bank balance transfers. Introductory APRs do not apply to balance transfers, and you will be charged $10 or 3% per transfer, whichever is greater.
Is the Bank of America Travel Rewards Credit Card Worth It?
The Bank of America Travel Rewards Card with no annual fee is a great option for frequent travelers who value flexibility and is a Preferred Rewards member who has banked with Bank of America. Post-receipt credit on travel award claims means you don’t have to deal with blackout dates or travel restrictions when redeeming, and you’re free to book better travel deals through third-party websites. You can also use your points to buy a variety of travel goods, from aquarium tickets to hotel stays, similar redemption options from other exhibitors are not covered.
However, there are no travel-specific perks or ways to carry forward rewards, so many cardholders looking for more comprehensive travel opportunities will find this card two-dimensional. Since your rewards are limited to redeeming travel or dining points, a 2% cash back card might even be a better option if you’re not a Preferred Rewards member.
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