3 Unique Perks of the Bank of America Travel Rewards Card
KEY POINTS
- The Bank of America® Travel Rewards credit card is a solid option with a $0 annual fee.
- One unique perk is the rewards boost for Bank of America Preferred Rewards members, which can be as high as 75%.
- The card also makes it easier to redeem points for your preferred travel expenses than it is with many competitors.
The Bank of America® Travel Rewards credit card is designed to appeal to travelers, especially those who would like to redeem their points for expenses beyond the typical options of flights, hotels, and rental car reservations.
Some of the perks and benefits of the Bank of America® Travel Rewards credit card aren't particularly unique, such as its $0 annual fee. But there are some features that are unique. Here are three in particular you should know about before deciding whether the Bank of America® Travel Rewards credit card is a good fit for you.
Bank of America® Travel Rewards credit card
On Bank of America's Secure Website.
On Bank of America's Secure Website.
Good/Excellent (670-850)
Intro APR 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.74% - 28.74% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers.
Purchases: 0% Intro APR for 15 billing cycles for purchases
Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
Regular APR
18.74% - 28.74% (Variable)
Rewards Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire as long as your account remains open.
1.5 points per dollar
Annual Fee
$0
Welcome Offer 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases
25,000 points
This is a good starter travel card thanks to its simplicity and no annual fee. It offers a strong welcome bonus worth $250, unlimited 1.5X points on all purchases, and no foreign transaction fee. Simply redeem points as a statement credit for travel or dining purchases. The generous 0% Intro APR on purchases for 15 billing cycles might come in handy if you want to pay-off an expensive trip over time without interest. It’s a particularly good fit for Bank of America Preferred Rewards members, who can earn 25%-75% more points on every purchase (depending on your tier).
- Big sign-up bonus
- No annual fee
- Competitive rewards rate on purchases
- Great 0% intro APR offer on purchases and balance transfers
- Limited ways to use points
- Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.
- 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
- Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
- Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.74% - 28.74% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
- If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
1. Decent everyday earnings rate
The Bank of America® Travel Rewards credit card earns 1.5 points per per $1 spent on all purchases (essentially a 1.5% rewards rate, since points are typically worth $0.01). There are no categories or limits to worry about.
To be fair, this isn't the industry's highest rewards rate. At least, not at baseline. But when combined with the next unique perk, it can make this a solid travel rewards card.
2. Preferred Rewards bonus
The Bank of America Preferred Rewards loyalty program is one of the best in the banking business and can help make the bank's credit cards far more competitive for its members. Among other benefits, members get a 25% to 75% bonus on credit card rewards, depending on status level.
Tiers depend on how much you have in combined balances at Bank of America and Merrill Edge accounts. If you qualify for the 75% rewards bonus, which requires a $100,000 combined Bank of America and Merrill Edge balance, it can be an especially big deal. After all, the card's standard 1.5 points per per $1 spent on all purchases rewards rate is strong, but not industry leading.
But after a 75% boost, it becomes a 2.25% rewards rate on all purchases. This is an excellent rewards rate, especially for a credit card without a $0 annual fee.
3. Flexible redemption options
Many travel credit cards require you to redeem points through their own travel portal, and this can be a bit of a pain point. Not only do these portals often list only certain airlines and hotels, but this makes some categories ineligible for "travel" redemptions, including cruises, spending with preferred travel agencies, amusement park tickets, and other tourist attractions.
With the Bank of America® Travel Rewards credit card, you simply request a statement credit to offset the cost of whatever qualifying travel expenses you want to use your points for. You can also request a statement credit for dining purchases. Bank of America has one of the most extensive lists of what spending qualifies, so this can make redemption much more flexible.
In addition, you can choose to redeem points for cash rewards, either as a check or direct deposit to a Bank of America account, or for gift cards. However, these two options receive a point valuation of less than $0.01.
Is the Bank of America Travel Rewards right for you?
The Bank of America® Travel Rewards credit card is a solid $0 annual fee travel credit card. It generally has an excellent welcome offer, and it has a very broad definition of what expenses are considered to be travel-related.
Although it doesn't have quite as many perks as some other, more costly travel credit cards, it offers a solid earnings rate, easy point redemption, and is an especially good product for Bank of America Preferred Rewards members.
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