Travel Benefits Bank of America Credit Card
Snapshot
3.8
Bottom line
The Depository financial institution of America Travel Rewards carte is a flexible, no annual fee alternative to travel cards that take a bit more elbow grease to maximize. Similarly to Uppercase One miles, its flat-rate points on all purchases can exist redeemed to cover travel and dining purchases fabricated upwardly to a much more impressive 12 months prior, covering tourist attractions and other tertiary-political party travel bookings that travel rewards typically can't go toward. Yet, since points can't be transferred to partner programs and in that location aren't whatsoever travel-specific benefits, the Travel Rewards carte du jour is essentially a apartment-rate greenbacks back card with more cherry-red record.
Best for qualifying travel purchases
Banking company of America® Travel Rewards credit card
Intro offer
25,000 points
Regular April
xiv.24% - 24.24% Variable APR on purchases and balance transfers
Recommended Credit Score
Good to Excellent (670 - 850)
Depository financial institution of America® Travel Rewards credit card Overview
The Banking company of America® Travel Rewards credit card is platonic for travelers who value versatility, or even occasional travelers that dine in more than wing out. You'll be able to earn generous flat-rate rewards on all your purchases—not merely travel expenses. And because this travel rewards credit carte du jour isn't tied to specific hotel or airline partners, you tin volume your travel with whatsoever provider and receive a statement credit.
Bank of America credit cards too take a looser definition of travel compared to cards from other issuers, allowing you lot to receive a statement credit for purchases at campgrounds, travel agencies, zoos, art galleries and more. If you've shelved your travel plans for the moment though, you tin can as well redeem points for a statement credit toward dining purchases.
However, at that place aren't whatever travel-specific features to speak of, and your rewards can't be used to directly book travel through an issuer portal or a transfer partner—which is likely to exist a dealbreaker for quite a few cardholders. Unless y'all're a Preferred Rewards member that needs an easy to manage travel carte, the standard Travel Rewards card essentially becomes a flat-rate cash dorsum carte du jour with more advantage redemption cerise tape.
What are the advantages and disadvantages?
Pros
- No annual fee or foreign transaction fees.
- 0% intro APR on purchases for 15 billing cycles (then 14.24% – 24.24% variable APR ).
- Can boost your rewards rate by up to 75 percent as a Preferred Rewards fellow member.
- Redeemed points can encompass up to a 12-month-old travel or dining purchase.
Cons
- Introductory Apr doesn't apply to rest transfers
- Minimum redemption requirement of ii,500 points for travel or cash back
- Ameliorate travel-related category coverage, but the rewards are only valuable if you're a Preferred Rewards member
A deeper await into the electric current card offer
Quick highlights
- Rewards rate: Unlimited one.5 points per dollar on all purchases
- Welcome offer: 25,000 bonus points ($250 value toward travel purchases) if you brand $1,000 in purchases within 90 days of opening the account
- Annual fee: None
- Purchase intro April: 0% intro APR for 15 billing cycles for purchases
- Residuum transfer intro Apr: Northward/A
- Regular APR: xiv.24% – 24.24% variable
Current welcome offer
Banking company of America is currently offer 25,000 bonus points when you spend at to the lowest degree $i,000 in qualifying purchases within 90 days of opening the account. If yous redeem these points for a argument credit, they'll be worth virtually $250 toward travel. Considering that this card has no almanac fee, this is a generous welcome offer.
Compared to other no annual fee cards' sign-up bonuses, its $250 value is slightly higher than the $200 value you lot encounter on average. Keep in mind though that you may be spending double to qualify for that actress $fifty. Several cards like the Chase Freedom Unlimited® offer a bonus worth up to $300 cash back- earn an actress i.5% on everything yous buy (on upwardly to $20,000 spent in the get-go yr). That's half dozen.5% on travel purchased through Chase Ultimate Rewards®, 4.5% on dining and drugstores, and three% on all other purchases.
Still, you'll probably spend at least $i,000 in your showtime 90 days with your Bank of America Travel Rewards carte du jour anyway, then the higher spending requirement isn't a big deal.
Rewards charge per unit
This carte offers a high rewards charge per unit on everyday purchases and travel booked through Depository financial institution of America, but these travel rewards work a bit differently than typical bonus miles. Instead of using rewards to book travel, your Bank of America travel rewards go toward argument credits on travel or dining purchases—significant this bill of fare works more similar a specialized greenbacks dorsum credit card.
If you lot're a Preferred Rewards member, y'all can earn 25 percent to 75 per centum more than points on every purchase. That means y'all could earn up to ii.62 points for every $one spent.
Here'southward a quick primer on how to earn and maximize your Bank of America travel rewards:
How you earn
The Depository financial institution of America Travel Rewards credit card allows you lot to earn unlimited 1.5 points for every dollar y'all spend on all purchases. Y'all can likewise earn three points per dollar on travel bookings and other purchases through the Depository financial institution of America Travel Centre (except insurance).
Nevertheless, the Bank of America Preferred Rewards plan gives the Travel Rewards card an edge over similar competing cards, if you already accept an eligible account with Banking concern of America. Depending on which status tier your hold, yous'll earn 25 to 75 pct bonus points on every purchase. That means Platinum Honors Preferred Rewards members tin can earn up to 2.62X points on all purchases.
How to redeem
Y'all can redeem your points for gift cards, cash or a statement credit to cover travel-related purchases. Even amend, yous tin can asking a credit for your travel-related purchases upwards to 12 months subsequently you make them. That opens the door to exceptional deals that you might not get with other travel advantage programs, such equally disbelieve bookings through external travel websites. Just keep in mind that in that location'south a 2,500-betoken redemption minimum for travel credits and greenbacks and a 3,125-point minimum for gift cards. Y'all tin can receive cash back as a check or direct deposit to an eligible checking or savings account with Bank of America or an eligible Merrill Greenbacks Management Account.
Mayhap ane of the best aspects of the Depository financial institution of America Travel Rewards card'southward travel credit redemption is that it covers a wide range of buy categories that may non normally qualify as travel or dining. For example, you can get statement credits for admission tickets to fine art galleries and aquariums, purchases at bars and nightclubs or even eligible purchases with existent manor agents. Some travel or dining-related expenses like in-flying goods and services and duty-costless airport purchases aren't eligible for statement credits, and so hither'south a handy list of example categories that you lot tin put travel credits toward:
Bank of America Travel Rewards card categories eligible for travel credits
| Eligible travel-related category examples | Eligible dining-related category examples |
|---|---|
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How much are the rewards worth?
If you redeem your points for a travel statement credit, they're worth 1 cent each, so 25,000 points equal $250. Cash and gift cards usually give you less bang for your buck. When yous redeem for cash, your points are merely worth 0.6 cents each (or $150 for every 25,000 points). The value of your points when you redeem gift cards varies by retailer.
Compared to Hunt and other issuers with traditional travel reward programs, yous may get more bonus category flexibility merely you can't transfer your points to travel partners at a college value. Bank of America Travel Rewards menu points are stuck at a 1 cent maximum value while Chase Ultimate Rewards points can exist worth up to two cents apiece with the right transfer partner.
Other cardholder perks
The Depository financial institution of America Travel Rewards menu isn't a powerhouse for perks like other travel-oriented rewards credit cards. It offers basic features like free access to your credit score, overdraft protection and business relationship alerts, plus there are a few actress benefits outside the Preferred Rewards program that might be helpful during your travels.
Preferred Rewards
If you bank with Bank of America or invest with Merrill Edge, you may be able to join the Preferred Rewards program, which gives you the hazard to earn a college rewards rate on your purchases. Plus, y'all could receive other benefits like boosted interest rates on savings accounts and reduced interest rates on your domicile disinterestedness and auto loans.
Depending on how much coin you keep in your combined Bank of America and Merrill investment accounts, you lot could earn upwardly to a 75 percent bonus on your credit card rewards. And so if you have a combined rest of at to the lowest degree $100,000 and make a purchase that earns 100 points, y'all could actually go upward to 175 points equally a Platinum Honors Preferred Rewards member.
Banking concern of America Preferred Rewards status tiers
- Gilt (at least a $20,000 combined balance): 25 percent bonus rewards
- Platinum (at least a $50,000 combined balance): 50 percent bonus rewards
- Platinum Honors (at least a $100,000 combined remainder): 75 percent bonus rewards
BankAmeriDeals
Bank of America cardholders have exclusive access to BankAmeriDeals, the issuer's version of card-linked limited-time offering programs like Amex Offers or Chase Offers. You can log into your account and commonly earn anywhere from 5 to 15 percent extra cash back (up to a sure limit) at participating restaurants and other merchants subsequently activating the respective offer. BankAmeriDeals won't rake in big bucks, merely the "coins" you go for regularly using the plan can help you obtain upgraded deals.
Visa Signature benefits
Every bit a Visa credit carte du jour, your Bank of America Travel Rewards carte has access to a portfolio of Visa Signature perks that can come up in handy on the road. Contact your issuer to see which features your card specifically carries, just you can expect to receive standard benefits like:
- Extended warranty protection
- Visa Signature® Concierge services
- Roadside Acceleration®
- Lost baggage reimbursement
- Travel and emergency help
Museums On The states
If you love planning mean solar day trips to popular museums, and then this benefit is an underrated gem. Merely presenting your Bank of America debit or credit card and a valid photo ID will get you free admission to 225-plus "cultural institutions" during the get-go weekend of each month.
Rates and fees
One of the main benefits of the Bank of America Travel Rewards card is the lack of fees. There is no annual fee and no foreign transaction fees, which is great news if you're planning to travel abroad. There'due south besides a 0% introductory APR on purchases for 15 billing cycles, which can exist helpful when financing a large purchase during the first year. Fortunately, the regular variable APR is below the current average credit card interest rate at (14.24% – 24.24% variable APR), just you may be charged a penalty April of upward to 29.99% variable if you miss a payment.
Another matter to consider is that this bill of fare isn't the best choice for rest transfers with Depository financial institution of America. The intro Apr doesn't apply to residual transfers, and you lot'll exist charged $ten or a 3 per centum fee, whichever is greater, for each transfer you make.
Bank of America too charges a late fee of up to (encounter terms for more details), a returned payment fee up to (meet terms) and a $10 or 3 percentage fee on cash advances, whichever is greater.
How the Bank of America Travel Rewards credit card compares to other travel cards
Bank of America Travel Rewards vs. Majuscule One Venture Rewards Credit Carte
The Bank of America Travel Rewards bill of fare is i of the best travel credit cards with no annual fee if you value flexibility, just information technology doesn't operate like a traditional travel card with bonus points or miles. Instead, it works like a flat-rate cash back menu except your statement credits are restricted to travel and dining-related categories. If you don't travel frequently and "flexibility" ways occasionally redeeming for cash rewards, you lot're probably better off with a truthful flat-rate cash dorsum card like the Wells Fargo Agile Cash® Card or a flat-rate travel card that can redeem for 1:ane greenbacks back at whatsoever amount like the Discover it® Miles. That style, you'll exist able to earn upwards to 2 percentage unlimited cash back on all purchases. Even so, a truthful travel card tin also offer similar versatility if you want more travel-based perks.
The Capital Ane Venture Rewards Credit Card offers more traditional travel card rewards only keeps the streamlined feel. Information technology offers a higher rewards charge per unit of an unlimited 2X miles on all qualifying purchases, up to a $100 credit for TSA Global Entry or TSA PreCheck application fees and the hazard to earn a bigger welcome bonus. Information technology also rewards actual hotel and rental automobile travel purchases at a higher 5X rate if you volume through the Majuscule One Travel portal.
On the flip side, the menu charges a $95 almanac fee, doesn't offer an introductory APR and has a much college regular April ( sixteen.24 pct to 24.24 percent variable) than the Bank of America Travel Rewards credit carte du jour. The Venture likewise has a bit less redemption flexibility in the sense that you lot can't redeem miles to embrace some outlier travel-oriented purchases like tourist attraction tickets and dining expenses, merely you can apply your Capital letter One miles in the same argument credit-like style to cover eligible travel purchases made in the last 90 days.
To the Venture bill of fare's advantage, its rewards can gain value with the right transfer partner, up to ane.85 cents per mile according to The Points Guy'south latest estimation, which is already simpler than with nearly issuers since the majority of Upper-case letter I's partners accept a 1:1 transfer rate. Then if you're willing to merchandise some elbow grease for more than travel value, choosing the Venture card is likely the wiser road.
Bank of America Travel Rewards vs. Banking concern of America® Premium Rewards® credit card
If you're on the fence about investing money into a card with an annual fee merely you'd benefit from the Banking concern of America Preferred Rewards plan, you might want to look into the Bank of America® Premium Rewards® credit carte du jour. Information technology has the same $95 annual fee as the Venture bill of fare, but with higher reward rates and much ameliorate travel benefits than the standard Banking concern of America Travel Rewards carte du jour.
You'll too go prized travel insurance typically found on summit-tier travel cards like travel & emergency aid services, lost baggage reimbursement and auto rental collision impairment waiver coverage.
Although the 2X points on travel and dining are only a minor upgrade (the reward rates are lower than their counterparts on the Bank of America® Customized Cash Rewards credit card) and the card remains relatively frill-less, yous're getting enough for the price. In fact, frequent flyers can completely outset the annual fee without rewards spending via upwards to $100 in almanac airline incidental statement credits and up to $100 Global Entry or TSA PreCheck application fee credits (applies every four years). Keep in mind that the incidental credits just cover costs like seat upgrades, luggage fees, airline lounge access and in-flight services rather than general airfare, but savvy travelers will find the Premium Rewards a much better deal than the base of operations Travel Rewards carte.
Bank of America® Customized Greenbacks Rewards credit card last updated on May, 4, 2022.
Bank of America® Travel Rewards credit card
Apply now
on Bank of America's secure site
Intro offer
25,000 points
Recommended credit
Good to Excellent(670 - 850)
Upper-case letter One Venture Rewards Credit Card
Recommended credit
Good to Splendid(670 - 850)
Bank of America® Premium Rewards® credit card
Intro offering
50,000 points
Recommended credit
Practiced to Excellent(670 - 850)
Best cards to pair with the Bank of America Travel Rewards carte
Since the Bank of America Travel Rewards carte du jour is a flat-rate carte du jour, the best cards to pair with it volition reward the categories you lot spend the most in with higher advantage rates. Your Travel Rewards carte du jour points' best use is to comprehend the travel and dining purchases y'all make with information technology, so you'll want a card that covers your specialized spending outside those two categories.
The Bluish Cash Preferred® Bill of fare from American Express could be one of the best cash back cards for the balance of your everyday spending. Information technology earns 6 percent cash back at U.S. supermarkets (on upwards to $half-dozen,000 per year, then 1 percent) and on select U.S. streaming services, 3 per centum back on transit and U.S. gas station purchases plus 1 percent on all other purchases. Granted, there is a $95 annual fee, but it's $0 introductory annual fee for the offset twelvemonth and the sheer amount of cash dorsum will more than embrace the entry cost.
The Bank of America Travel Rewards bill of fare doesn't provide many travel benefits or rewards on some expenses similar in-flight purchases, and then it may also be worthwhile to look into a brand-specific airline credit card that will fill up in those gaps.
Bankrate's Have: Is the Bank of America Travel Rewards credit carte worth it?
The no annual fee Bank of America Travel Rewards carte du jour is a skilful choice for frequent travelers who value flexibility and are Preferred Rewards members that already depository financial institution with Banking company of America. The travel rewards statement credit you'll get after the fact means yous won't have to deal with blackout dates or travel restrictions when redeeming, and you accept the liberty to book through third-party sites for ameliorate travel deals. Y'all'll also exist able to utilise your points to cover a wide range of travel purchases from aquarium tickets to hotel stays, which aren't covered by similar redemption options from other issuers,
However, in that location aren't any travel-specific perks or opportunities to transfer rewards, so many cardholders looking for richer travel opportunities will find this card ii-dimensional. Since your rewards are limited to travel or dining statement credit redemptions, a two per centum flat-rate greenbacks back card may even be a better selection if you aren't a Preferred Rewards member.
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