The Bank of America® Travel Rewards Credit Card is a popular choice for travelers looking for a straightforward rewards program with no annual fee.
This card offers unlimited 1.5 points per dollar spent on all purchases, with no restrictions or expiration dates.
Points can be redeemed for travel expenses such as flights, hotels, vacation packages, rental cars, and more.
Additionally, it does not charge foreign transaction fees, making it an excellent option for international travelers.
With this card, customers also enjoy flexibility in how they earn and redeem points.
Unlike some travel credit cards that require booking through a specific travel portal, this card allows users to book travel as they normally would and then apply their points as a statement credit.
This makes it more user-friendly and eliminates the need to work around a travel provider’s limitations.
Reasons to Choose the Bank of America® Travel Rewards Credit Card
- Unlimited 1.5 points per dollar on every purchase, meaning you earn rewards regardless of spending categories.
- No annual fee, making it a cost-effective travel card for any budget.
- No foreign transaction fees, ideal for international trips and purchases abroad.
- 25,000 online bonus points (equivalent to $250 in travel credits) when spending at least $1,000 in the first 90 days.
- Flexible redemption options for travel, dining, and other expenses, offering ultimate convenience.
- Enhanced rewards for Bank of America Preferred Rewards members, with up to a 75% rewards bonus, potentially increasing earnings up to 2.62 points per dollar spent.
- Wide acceptance, as it operates on the Visa network, meaning you can use it virtually anywhere credit cards are accepted.
- 0% introductory APR for the first 15 billing cycles for purchases and balance transfers, providing interest-free flexibility.
Additional Benefits
- Easy-to-use mobile banking app for account management and reward tracking.
- Free access to FICO® credit scores to help monitor and improve financial health.
- Strong fraud protection features, including Zero Liability protection and real-time fraud monitoring.
- Auto rental collision damage waiver, covering rental car accidents and theft when paying with the card.
- Travel and emergency assistance services, providing support in case of travel-related emergencies.
- Extended warranty protection on eligible purchases, giving extra security on valuable items.
- Contactless payment technology for fast and secure transactions in stores.
- Overdraft protection for eligible Bank of America customers, helping avoid declined transactions and overdraft fees.
- Special deals and discounts for cardholders through Bank of America’s reward programs.
Negative Factors of the Card
- No bonus categories – The flat rewards rate may not be as beneficial for those who spend heavily in specific categories like dining, groceries, or gas.
- Limited redemption options – Points are primarily useful for travel-related expenses, making it less flexible for those who want pure cash-back rewards.
- Not as rewarding as premium travel cards – Lacks premium perks such as airport lounge access, travel insurance, or concierge services.
- Requires good to excellent credit for approval, which may limit accessibility for some applicants.
- Balance transfer fee applies, which might not make it the best option for those seeking to consolidate debt.
- No luxury travel benefits, such as free checked bags or priority boarding.
What Are the Requirements to Apply for the Card?
- Be at least 18 years old (or 21 in some states where required).
- Have a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
- Maintain a U.S. mailing address.
- Have a credit score in the good to excellent range (typically 670 or higher).
- Provide proof of income to demonstrate the ability to repay the credit balance.
- Be a U.S. citizen or a permanent resident, as non-U.S. residents may not qualify.
- No history of recent bankruptcies or major credit issues.
Fees and Costs
- No annual fee, making it a budget-friendly travel rewards card.
- APR: Variable APR, depending on creditworthiness.
- No foreign transaction fees, saving travelers money on international purchases.
- Late payment fees: Up to $40.
- Balance transfer fee: 3% of the amount transferred.
- Cash advance fee: Either $10 or 3% of the amount of each transaction, whichever is greater.
- Returned payment fee: Up to $29.
Frequently Asked Questions
Can I redeem my points for cash?
While the primary redemption option is for travel, you can redeem points for cash, gift cards, or statement credits, though at a lower value.
What is the minimum credit score to get approved?
Most successful applicants have a credit score of 670 or higher, but other financial factors may be considered.
Are there blackout dates for travel redemptions?
No, you can redeem your points for travel expenses at any time, with no blackout dates.
How do Preferred Rewards members benefit?
Preferred Rewards members can earn up to 2.62 points per dollar, depending on their membership tier, significantly increasing the card’s value.
Does this card offer travel insurance?
Unlike some premium travel credit cards, this card does not offer comprehensive travel insurance.
However, it does include auto rental collision damage waiver and travel assistance services.
Can I use this card for everyday purchases?
Yes! The unlimited 1.5 points per dollar rewards rate applies to all purchases, whether you’re booking travel or buying groceries.
How does the sign-up bonus work?
To earn the 25,000 bonus points, you must spend at least $1,000 within the first 90 days of account opening.
Does the card offer an introductory APR?
Yes, the card offers a 0% introductory APR for the first 15 billing cycles on purchases and balance transfers.
Conclusion
The Bank of America® Travel Rewards Credit Card is a great option for travelers who want a no-annual-fee card with straightforward rewards.
It offers 1.5 points per dollar on all purchases and provides a generous welcome bonus.
Additionally, it has no foreign transaction fees, making it ideal for those who frequently travel abroad.
However, it may not be the best choice for those seeking premium travel perks such as lounge access or comprehensive travel insurance.
Final Thoughts Choosing the right travel credit card depends on your spending habits and travel needs.
The Bank of America® Travel Rewards Credit Card is ideal for those looking for a simple, cost-effective way to earn travel rewards.
With its easy redemption process, no foreign transaction fees, and additional benefits for Preferred Rewards members, this card stands out as a solid choice for frequent and occasional travelers alike.
If you’re searching for a reliable travel credit card with no hidden fees, this one might be the perfect fit for you.
