Our Verdict
The Bank of America® Travel Rewards credit card may appeal to occasional travelers who want a no annual fee credit card with a simple rewards system. Overall, the card is a just-average travel rewards card without many of the enticing perks offered by other popular travel credit cards. Yet it offers a compelling option for members of Bank of America’s Preferred Rewards program who have enough in the bank to reach the bonused earning tiers.
Pros
- Earn unlimited rewards
- Bank of America Preferred Rewards clients earn 25%-75% more points on every purchase
- No foreign transaction fees
Cons
- No bonus categories to boost reward earnings
- APR can be high, depending on creditworthiness
Current Bank of America Travel Rewards Credit Card Offer
- 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 18.24% – 28.24% 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.
Alternatives to the Bank of America Travel Rewards Credit Card
Table Of Contents
- Introducing the Bank of America Travel Rewards Credit Card
- Bank of America Travel Rewards Card Quick Facts
- What Is the Bank of America Travel Rewards Credit Card Best For?
- Bank of America Travel Rewards Credit Card Rewards
- Introductory Rates
- Bank of America Travel Rewards Credit Card Benefits
- Bank of America Travel Rewards Credit Card Fees
- Bank of America Travel Rewards Credit Card Credit Requirements
- Fine Print
- How the Bank of America Travel Rewards Credit Card Stacks Up
- Is the Bank of America Travel Rewards Credit Card for You?
- Methodology
- Frequently Asked Questions (FAQs)
Introducing the Bank of America Travel Rewards Credit Card
We love credit cards, but we don’t love how confusing some rewards structures can be. The Bank of America® Travel Rewards credit card simplifies the travel rewards space by earning 1.5 points per dollar on all purchases. While this isn’t the highest earning rate out there on a flat-rate rewards credit card, those who are members of Bank of America’s Preferred Rewards program can get a significant boost of 25% to 75% more points per dollar spent, depending on their Preferred Member tier.
This isn’t a card for luxury travelers. Bank of America’s take on travel rewards doesn’t include the posh perks that other travel cards offer. That doesn’t mean, however, that the card is completely devoid of travel benefits. As a Visa Signature card, it offers a few perks to get excited about, including concierge services and access to the Visa Signature Hotel Collection.
Bank of America Travel Rewards Card Quick Facts
- $0 annual fee
- Earn 1.5 points per dollar on all purchases.
- No foreign transaction fees.
- Points can be redeemed as a statement credit toward travel and dining purchases, cash back or gift cards.
- Preferred Rewards members can earn 25% to 75% more points.
What Is the Bank of America Travel Rewards Credit Card Best For?
The Bank of America® Travel Rewards credit card is best for earning unlimited travel rewards. With no bonus categories to track, the card is an excellent fit for someone who values simplicity over complicated earnings programs. Here are two of our best credit card lists that feature the Bank of America® Travel Rewards credit card:
Bank of America Travel Rewards Credit Card Rewards
Earning Rewards
The Bank of America® Travel Rewards credit card earns 1.5 points per dollar on all purchases.
Bank of America Preferred Rewards members earn a 25% to 75% bonus on all points earned, depending on program qualification level. The entry level of the program requires a balance of $20,000 or more in eligible Bank of America or Merrill accounts with the highest tiers requiring a balance of at least $100,000.
The Bank of America Travel Rewards card offers a welcome bonus that allows eligible new cardholders to earn 25,000 online bonus points after spending $1,000 in purchases in the first 90 days of account opening.
Redeeming Rewards
Points earned through the Bank of America® Travel Rewards credit card can be redeemed for statement credits to pay for flights, hotels, vacation packages, cruises, rental cars, baggage fees and restaurants including takeout. Each point is worth 1 cent when redeemed this way.
Other ways to redeem rewards include for gift cards and cash back, but these redemptions have lower rates. Each point redeemed for cash is worth 0.6 of a cent (2,500 points = $15). Gift card redemptions vary in value per point.
Rewards Potential
To determine the rewards potential of a credit card we look at the reward categories the card offers and calculate what an average household might spend in those areas. Forbes Advisor uses data from various government agencies to determine baseline income and spending averages across various categories. The 70th percentile of wage-earning households brings in $118,438 annually and has $39,337 in annual expenses that can reasonably be charged to credit cards. We base our calculations on these numbers.
| Bank of America® Travel Rewards credit card Rewards Potential | |||
|---|---|---|---|
|
Category
|
Earning Rate
|
Estimated Annual Spend
|
Estimated Annual Earnings
|
|
All Purchases
|
1.5X
|
$39,337
|
59,005.5 points
|
|
Total: $590.06 in statement credits
|
|||
Members of the Bank of America Preferred Rewards program can do even better.
- Gold (25% points boost): 73,756 points (Equivalent to $737.57 in travel redemption credits)
- Platinum (50% points boost): 88,508 points (Equivalent to $885.08 in travel redemption credits)
- Platinum Honors and Diamond (75% points boost): 103,259 points (Equivalent to $1,032.60 in travel redemption credits)
Introductory Rates
The Bank of America® Travel Rewards credit card comes with a 0% introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days, followed by a 18.24% - 28.24% variable APR on purchases and balance transfers. A 3% fee applies to all balance transfers made in the first 60 days, then 4%.
Bank of America Travel Rewards Credit Card Benefits
- $0 liability guarantee. Cardholders are not liable for fraudulent transactions.
- Digital wallet compatible. Compatible with Apple Pay, Google Pay and Samsung Pay.
- FICO Score. Free monthly FICO Score update within the mobile or online banking apps.
- Visa Signature perks. As a Visa Signature card additional perks include access to the Visa Signature Luxury Hotel Collection.
Bank of America Travel Rewards Credit Card Fees
- Annual fee: $0
- Balance transfer fee: 3% for 60 days from account opening, then 4%
- Foreign transaction fee: None
- Late payment fee: Up to $40
Bank of America Travel Rewards Credit Card Credit Requirements
A good credit score will go a long way to being approved for any credit card, including the Bank of America® Travel Rewards credit card. A FICO scoring model is often used by lenders and banks to make their credit decisions. Scores fall within a range of 300 to 850. A good score is between 670 and 739.
Fine Print
- Regular APR: 18.24% - 28.24% Variable APR on purchases and balance transfers
- Purchase intro APR: 0% Intro APR for 15 billing cycles for purchases
- Balance transfer intro APR: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
How the Bank of America Travel Rewards Credit Card Stacks Up
Bank of America® Travel Rewards credit card vs. Capital One VentureOne Rewards Credit Card
Another option for those looking for a no annual fee travel rewards card with a simple earnings structure is the Capital One VentureOne Rewards Credit Card (rates & fees). It earns 5 miles per dollar on hotels and rental cars booked through Capital One Travel and 1.25 miles per dollar on every other purchase—not quite as much as the standard earn rate on the Bank of America® Travel Rewards credit card. However, the VentureOne card offers the ability to transfer miles to multiple Capital One partners at a potential increase in value.
Bank of America® Travel Rewards credit card vs. Chase Freedom Flex℠*
The Chase Freedom Flex℠* is a Forbes Advisor top pick both for cash-back credit cards and no annual fee credit cards, and with good reason. It offers 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases. Many will come out ahead with this rewards scheme compared to that of the Bank of America® Travel Rewards credit card.
For those who have a premium Chase Ultimate Rewards®-earning card like the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, the rewards earned through the Chase Freedom Flex can be pooled or transferred to Chase’s airline and hotel transfer partners.
Bank of America® Travel Rewards credit card vs. Bank of America® Premium Rewards® credit card
The Bank of America® Premium Rewards® credit card is the bigger sibling with a $95 annual fee. It offers 2 points per dollar on travel and dining purchases and 1.5 points per dollar on all other purchases. Considering the bonus categories alone, cardholders would need to spend $4,750 on travel and dining to break even with the annual fee.
However, this card also offers a $100 airline incidental credit each year and up to a $100 Global Entry or TSA PreCheck® application fee credit every four years. Assuming these benefits are utilized, it’s easy to come out ahead of the annual fee. However, those unsure if they can maximize these benefits will likely be better served by the Travel Rewards card with no annual fee.
Find the Best Credit Cards for 2024
No single credit card is the best option for every family, every purchase or every budget. We've picked the best credit cards in a way designed to be the most helpful to the widest variety of readers.
Is the Bank of America Travel Rewards Credit Card for You?
The Bank of America® Travel Rewards credit card is likely best suited for occasional travelers who aren’t looking for luxury travel perks. The simple rewards system—1.5 points per dollar on all purchases—makes this a rewards card that eliminates headaches over figuring out the best ways to maximize spending. This card doesn’t offer many enticing additional benefits, so consumers who want to dedicate rewards strictly to travel might consider this card.
Methodology
Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including:
- Annual fees
- Welcome bonus offers
- Ongoing earning rates
- Value of individual points or miles
- Included travel or merchant credits
- Additional cardholder benefits
Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors come together to provide a star rating for each individual card.
Read more: How Forbes Advisor rates credit cards
Frequently Asked Questions (FAQs)
How do I use Bank of America Travel Rewards?
The Bank of America® Travel Rewards credit card earns 1.5 points per dollar on all purchases. Points can be redeemed as statement credits toward travel purchases such as flights, hotels, vacation packages, cruises, rental cars and baggage fees, dining purchases, cash back and gift cards.
Do Bank of America Travel Rewards points expire?
Points earned with the Bank of America® Travel Rewards credit card do not expire as long as your account remains open with active charging privileges. Points may be forfeited if the account is closed for any reason.
How much are Bank of America Travel Rewards points worth?
Point values vary depending on how you use them. Points redeemed for travel and dining purchases are worth 1 cent each. You can begin redeeming points when you have at least 2,500. Those 2,500 are worth $25 when redeemed for travel or dining. Cash-back redemption is worth $0.006, so 2,500 points would then be worth $15.
What credit score do you need to apply for the Bank of America Travel Rewards credit card?
Credit card issuers consider more than just your credit score, no score is a guarantee for approval. Aim for a good credit score between 670 and 739 to qualify for the Bank of America® Travel Rewards credit card.
Does the Bank of America Travel Rewards credit card have travel insurance?
The Travel Rewards card doesn’t come with travel insurance, but as a Visa Signature card, it does have access to concierge services and the Visa Signature Hotel Collection.
*The information for the following card(s) has been collected independently by Forbes Advisor: Chase Freedom Flex℠. The card details on this page have not been reviewed or provided by the card issuer.
