Last updated on April 11th, 2023
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Bank of America® Travel Rewards Credit Card
Bank of America® Travel Rewards Credit Card
Bank of America® Travel Rewards Credit Card
- 17.99% to 27.99% variable based on creditworthiness and Prime Rate Regular Purchase APR
- 17.99% to 27.99% variable based on creditworthiness and Prime Rate Balance Transfer APR
- 20.99% to 29.99% variable based on creditworthiness and Prime Rate Cash Advance APR
- 0% for the first 18 billing cycles from account opening date Intro Purchase APR
At a Glance
Offered primarily to individuals who suffer from occasional wanderlust, the Bank of America® Travel Rewards Credit Card makes it easy to get out and see the world. It compensates you for everyday purchases with points you can easily redeem towards your next adventure, without the hassle of annual or foreign transaction fees.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn 25,000 bonus points after spending $1,000 in purchases within the first 90 days
- Introductory 0% purchase APR for 15 billing cycles
- 1.5 points for every $1 you spend on all purchases
- No annual fee
- No foreign transaction fees
- Points do't expire
- Unlimited earning
- Intro Purchase APR: 0% for the first 18 billing cycles from account opening date
- Regular Purchase APR: 17.99% to 27.99% variable based on creditworthiness and Prime Rate
- Intro Balance Transfer APR: 0% for the first 18 billing cycles from account opening date
- Balance Transfer APR: 17.99% to 27.99% variable based on creditworthiness and Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 3% of the amount of each transaction, whichever is greater
- Cash Advance APR: 20.99% to 29.99% variable based on creditworthiness and Prime Rate
- Cash Advance Transaction Fee: Either $10 or 3% of the amount of each transaction, whichever is greater
- Penalty APR: Up to 29.99% variable based on creditworthiness and Prime Rate
- Late Payment Penalty Fee: Up to $40
- You're a casual traveler that likes to take a couple of trips each year but don’t need a hardcore travel card
- You wish to earn rewards on any purchases that can go toward your next vacation
- You're looking for a travel credit card with no annual or foreign transaction fees
- You plan to make a large purchase that may require multiple payments that can benefit from the introductory APR
Bank of America® Travel Rewards Credit Card Review
Consider this the casual globetrotter’s credit card, earning an unlimited 1.5 points per dollar spent on all purchases, anywhere, anytime. Combined with the limited extraneous fees, generous introductory bonuses, and easy point redemption system, this card will have you booking your next holiday in no time.
How Does the Bank of America Travel Rewards Credit Card Work?
Where other travel credit cards earn more points for select categories (usually travel and dining) and less for all others, the Bank of America® Travel Rewards card accumulates the same happy medium for anything you wish to purchase with the card.
Even greater rewards await if you’re a member of the bank’s Preferred Rewards program. Preferred Rewards members can earn anywhere from 25% to 75% more points depending on their membership level.
This means those with top-tier status get up to 2.62 points for every dollar spent. To qualify for one of the three tiers, you’ll need a Bank of America and/or Merrill investment account with an average combined balance of at least $20,000 over 3 months.
Redeeming Your Bank of America Travel Credit Card Rewards
The simple rewards structure makes it easy to build up your travel fund with everyday purchases, from gas and groceries to dining and online shopping. Once you’ve accumulated enough points, you can redeem them for a wide variety of travel expenses, including:
- Hotels
- Flights
- Baggage fees
- Cruises
- Vehicle rentals
- Vacation packages
These points never expire, so you can take your time saving up for your dream trip. Even better, you don’t have to worry about blackout dates or restrictions when using them to pay for your travels.
Introductory Bonuses
Unlike some of the best travel cards, this doesn’t charge annual or foreign transaction fees. Many of the top rewards cards also offer significant introductory bonuses when you apply, and the Bank of America Travel Rewards Visa Credit Card is no exception.
When you sign up online and spend at least $1,000 in the first three months, you can earn 25,000 bonus points. That’s equal to $250 you can put toward your next getaway.
Another great feature of this card is its introductory APR offer. For the first 15 billing cycles as a cardholder, you can take advantage of a 0% APR on purchases. Big-ticket expenses – such as a flight or a vacation package – can benefit especially well from this incentive since they may require multiple payments to clear the balance. That rate is on par, though slightly less impressive, than cards with the longest intro APR periods – namely the Citi Simplicity® Card and Citi® Diamond Preferred® Card.
Should You Apply for the Bank of America® Travel Rewards Credit Card?
Many travel rewards cards these days come with lots of extra bells and whistles, which can be intimidating if you’ve never had one before. Not only that, you can actually lose money paying an annual fee if you don’t take advantage of all your card has to offer. If you’re looking for a solid, simple card to set you on the right path, the Bank of America® Travel Rewards is a good place to start.
You won’t have to worry about spending funds on travel upfront, since you can earn points on any purchase wherever you go. With no expiration date, you can choose to redeem as you go or save up for your big dream trip with no blackout dates or other limitations. Other options also include the Citi Premier® Card, which features similar rewards and a similar annual fee.
Overall, if you have good to excellent credit and are ready to start hitting the road, this card won’t steer you wrong. If you’re a student, compare this to the Bank of America® Travel Rewards Credit Card for Students as a good alternative for your first travel card.
The information related to Citi Simplicity Card and Citi Diamond Preferred Card has been collected by BestCards.com and has not been reviewed or provided by the issuer or provider of this product or service
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