Bank of America Travel Rewards Credit Card Overview
The Bank of America Travel Rewards Credit Card is a straightforward option for travelers, offering a good welcome bonus without any annual fees, which is helpful for those just getting into rewards credit cards. Of course, for those seeking more substantial rewards, there might be better alternatives out there.
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Annual fee: $0
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Welcome offer: Earn 25,000 bonus points if you spend $1,000 or more within the first 90 days. That translates to about $250 in travel credits.
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Introductory APR: 0% for 15 billing cycles on both purchases and balance transfers made within the first 60 days.
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Purchase APR: Variable rate between 17.49% to 27.49%.
- Reward rate:
- 1.5 points per dollar on everyday purchases, unlimited.
- No blackout dates.
- Points do not expire as long as the account remains open.
- Advantages:
- Ability to convert points to statement credits for travel and dining.
- Points never expire if the account is active.
- No restrictions on blackout dates.
With this card, you get to enjoy two introductory APR offers, which is quite handy for paying off debts or making larger purchases without the immediate pressure of interest. Just be aware that there is a fee for balance transfers.
If you’re a member of the Bank of America Preferred Rewards program, your points earnings can increase. Depending on your tier, you could earn between 25% to 75% more points on eligible purchases, bumping your rate to as high as 2.62 points per dollar.
New cardholders also have the opportunity to earn a nice bonus of 25,000 points with qualifying spending in the first 90 days, which is a great incentive.
The card has a few flexible redemption options:
- Statement credits for travel and dining: Cash rewards can offset eligible expenses such as flights and meals, with a minimum of 2,500 points required (valued at $25).
- Cash back: You can get a check or electronic deposit into a Bank of America account, but note, this is valued lower.
- Gift cards: Points can also be exchanged for gift cards, starting at 3,125 points.
Generally, redeeming points for travel-related purchases offers better value than cash or gift card redemption. Plus, no blackout dates mean you can book travel smoothly without restrictions, just by using your card to pay.
If you’re looking for a no-annual-fee travel rewards card with simple benefits, this one could work well for you. It’s user-friendly and makes entering the travel rewards arena fairly painless. However, if you’re seeking advanced rewards in specific categories or high-end benefits like airport lounge access, you might want to explore better-suited options.
- Strong welcome bonus for newcomers.
- Clear reward rate structure.
- Introductory APR offers available.
- No annual fee.
- No foreign transaction fees.
- No transfer partners for redemption.
- No bonus categories for earning rates.
- No premium travel benefits, like airport lounge access or annual credits.
As a Visa card, this can be used at many locations globally, which is beneficial for travelers. The absence of foreign transaction fees is another perk when traveling abroad.
You can manage your payments through Bank of America’s online portal or mobile app, and they also have numerous ATMs and financial centers. If phone support is your preference, customer service is available around the clock.
Payment methods by mail are also straightforward, with designated addresses based on the type of card you hold.
Ultimately, if your spending habits align with earning rewards on everyday purchases, this card might suit you well. However, for those who frequently use a specific airline or hotel program, looking into dedicated airline or hotel credit cards could be more advantageous.
Additionally, redeeming points for travel is likely to give you the best value overall.
Lastly, yes, you can convert your points into cash back or gift cards, although this approach offers less value compared to redeeming for travel-related expenses.
