Rewards Plan
Sign up Bonus
Credit Rating
0% Intro
Annual Fee
APR
- Sign-Up Bonus
- No Annual Fee
- Minimum Redemption
- There Are Better Travel Rewards Cards
Rewards Plan
Sign up Bonus
0% Intro
PROS
- Sign-Up Bonus
- No Annual Fee
CONS
- Minimum Redemption
- There Are Better Travel Rewards Cards
APR
18.24% - 28.24% Variable APR will apply. A 3% fee (min $0) applies to all balance transfers
Annual Fee
$0
Balance Transfer Fee
3% or $10 (the greater)
Credit Requirements
Good – Excellent
Bank of America® Travel Rewards credit card is a straightforward rewards card that doesn’t shift spending categories for higher bonuses. It offers flexibility with its travel rewards and simplicity for those who don’t want to jump through hoops in order to earn or spend their rewards.
The card doesn't charge annual fee or foreign transaction fee, not common at all when talking about travel cards. You can earn unlimited 1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points, as well as 0% intro APR on 15 billing cycles for purchases. Then 18.24% - 28.24% Variable APR will apply. A 3% fee (min $0) applies to all balance transfers APR and 3% or $10 (the greater) balance transfer fee.
In addition, you can earn 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – which can be redeemed for a $250 statement credit toward travel purchases. The card is issued by Bank of America but it is a Visa card so it is widely accepted.
- Sign-Up Bonus
- Visa Card Benefits & Other Perks
- No Annual Fee
- 0% APR Introductory Rate on Purchases
- Preferred Rewards, No Expiration
- Travel Flexibility & Bonus points
- No Foreign Transaction Fee
- Minimum Redemption
- There are Better Rewards Cards
- Requirements
- Limited Travel Protections
How do I redeem points?
You are able to redeem these points as a statement credit to pay for the likes of travel and dining purchases or you can redeem them as cash or in the form of gift cards.
Does it offer pre-approval?
Yes, pre-approval is an option when you are applying to get a Bank of America Travel Rewards Card. This allows you to avoid a hard credit check.
How hard is it to get a Bank of America Travel Rewards Card?
The card isn't considered as one of the best premium travel cards, so it is not very hard for you to get the Bank of America Travel Rewards Card. You just need to look at the pre-qualification process and see where you might fall short.
What are the top reasons NOT to get it?
If you do not travel a lot then the Bank of America Travel Rewards Card is not really going to be a good fit for you, as there are more suitable options.
In this Review..
Benefits
Let’s take a look at the benefits of the BoFa Travel Rewards card and see if it’s the right one for your wallet or not.
- Sign-Up Bonus
You can get 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – which can be redeemed for a $250 statement credit toward travel purchases
This is one of the larger sign-up bonuses cards in the market with a low threshold.
- Visa Card Benefits & Other Perks
Lastly, Bank of America Travel Rewards Credit Card has car rental insurance in excess of the company’s insurance policy. You can also add a PIN to your card for international travel to protect your card in case of theft.
- No Annual Fee
Bank of America Travel Rewards Credit Card has no annual fee, so you won’t have to meet spending thresholds to pay off it off. You can start earning rewards as soon as you get the card.
- 0% APR Introductory Rate on Purchases
If you are looking to save money on interest, the Bank of America Travel Rewards Credit Card offers a 0% introductory rate for 15 billing cycles for purchases (then 18.24% – 28.24% Variable APR will apply. A 3% fee (min $0) applies to all balance transfers).
This is great if you have a big purchase in mind and want to pay over time. Note that there are other cards that offer longer 0% introductory rates.
- Preferred Rewards, No Expiration
Bank of America has a program for all of its credit cards in which cardholders can earn between 25%-75% more rewards with their cards. To qualify for this reward you need at least $20,000 combined with Bank of America or Merrill Lynch accounts.
This could really juice your rewards if you are able to qualify for this program. Also, the Bank of America Travel Rewards card points do not expire.
- Travel Flexibility & Bonus points
With the Bank of America Travel Rewards Credit Card you can book your trip how and where you want. You do not have to use specific companies, deal with blackout dates or other restrictions.
You can use the points for flights, hotels, vacations, packages, cruises, and rental cars. The card is a Visa credit card and customers are eligible for Visa Signature Benefits. This is a 24/7 concierge service that helps cardholders with booking travel and hotel upgrades.
If you use your card Bank of America Travel Rewards Credit Card and book travel through the Bank of America Travel Center, you will earn 3 points per dollar spent.
- No Foreign Transaction Fee
Bank of America Travel Rewards Credit Card has no transaction fees while traveling in another country. Many other rewards cards and regular credit cards have fees when you make purchases outside of the United States.
Drawbacks
Here are the most important cons you should consider before apply to the BoFa Travel Rewards card card:
- Minimum Redemption
Bank of America Travel Rewards Credit Card has a minimum for cardholders to redeem points.
You need points to use them for travel and 3,125 points to redeem for a gift card. With many other cards you can use rewards as soon as you earn them.
- There are Better Rewards Cards
There are other rewards cards in the market that offer higher rewards. If you are a big spender on travel and do not mind the annual fee, there are other cards that offer better rewards.
- Requirements
The APR for the Bank of America Travel Rewards Credit Card is a 18.24% – 28.24% Variable APR will apply. A 3% fee (min $0) applies to all balance transfers, which is high for a card that requires cardholders with good – excellent credit histories.
- Limited Travel Protections
Bank of America Travel Rewards Credit Card does not have some of the same protections as other travel rewards cards, such as delayed or canceled flight insurance or protections on lost luggage.
For example, the chase sapphire preferred rewards includes auto rental collision damage waiver, travel & emergency assistance services and 25% more through ultimate chase rewards.
Calculate Miles: How Much You Can Earn?
If you're a frequent traveler, there is no doubt you can leverage your card to get a bunch of miles rewards, in addition to another benefits it offers. But how much exactly can you earn?
In order to understand that, we need to calculate the miles based on the card terms and spend per each category. However, everyone has its own habits, so it's important to adjust the according to your specific category breakdown.
| |
|---|---|
Spend Per Category | Bank of America® Travel Rewards |
$15,000 – U.S Supermarkets | 22,500 points |
$3,000 – Restaurants
| 4,500 points |
$1,500 – Airline | 2,250 points |
$1,500 – Hotels | 2,250 points |
$4,000 – Gas | 6,000 points |
Annual Points | 37,500 points |
Estimated Points Redemption Value | 1 point ~ 0.6 – 1 cent |
Estimated Annual Value | $225 – $375 |
How to Redeem Your Miles Rewards?
With the Bofa travel rewards, cardholders earn 1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points.
Bank of America offers you to use your rewards to:
- Book your trip without any blackout dates, restrictions or specific websites.
- Redeem as a statement credit to pay for your travel or dining purchases. This includes restaurants including takeout, baggage fees, vacation rentals, hotels and flights.
Best Ways to Maximize Miles Rewards
Here are some pointers to help you make the most of your Travel Rewards Card:
Join Preferred Rewards: If you meet the membership requirements, joining Preferred Rewards will increase your rewards. You would earn an additional 25% as a Gold Preferred Rewards member. In the above scenario, this would increase your monthly rewards from $30.90 to $38.62, a $92 increase per year.
Link Accounts: Overdraft protection is available by linking your Bank of America checking account. If you want to avoid the embarrassment of declined purchases, you can link your checking account to your credit card, which will trigger an automatic transfer if you are nearing the limit on your card.
How To Apply For Bank of America Travel Rewards Card?
- 1.
Visit the Bank of America Travel Rewards Card homepage and click “Apply Now.”
- 2.
This takes you to the next page, where you can fill in your “Personal Information” such as your Names, date of birth, etc.
- 3.
The next step is your financial details – you’ll need to share some details about your income and more relevant info such as employment status and annual income.
- 4.
Then click on “Continue” to complete the process.
Is the BoFa Travel Rewards Card Right For You?
Bank of America Travel Rewards Credit Card is a great card for frequent travelers who want to earn rewards on their spending but do not want to pay an annual fee.
This card is also great for those who qualify for Bank of America’s Preferred Rewards Program. Bank of America Travel Rewards Credit cardholders can make the rewards go much further if they qualify for the Preferred Program. This card is straightforward and simple in its rewards and redemption structure.
Many customers can appreciate the flexibility of redeeming rewards without having to use special carriers. Also there are fewer restrictions and blackout dates. This card comes with a nice 0% introductory rate that cardholders can use to save some money on interest.
There are better rewards cards available, but many of them come with annual fees and different programs that require cardholders to jump through hoops in order to maximize their rewards.
Compare The Alternatives
There are other credit cards that do offer comparable cash back rewards – we’ve summarized the most popular cards which can use as an alternative to the BoFa Travel Rewards:
|
|
| |
|---|---|---|---|
Bank of America® Travel Rewards credit card | Capital One Venture Rewards Credit Card | Chase Sapphire Preferred® Card | |
Annual Fee | $0 | $95 | $95
|
Rewards |
1.5X
1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points
|
2X
2X miles per dollar on every purchase, plus 5X miles on hotels and rental cars booked through Capital One Travel
|
2X – 5X
5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and online grocery purchases and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases
|
Welcome bonus |
25,000 points
25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – which can be redeemed for a $250 statement credit toward travel purchases
|
75,000 miles
|
60,000 points
60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
|
Foreign Transaction Fee | 0% | None | 0%
|
Purchase APR | 18.24% – 28.24% Variable APR will apply. A 3% fee (min $0) applies to all balance transfers | 20.99% – 28.99% (Variable)
| 21.24%–28.24% variable APR
|
FAQ
To maximize the rewards from the Bank of America Travel Rewards Card, you should use the points for travel-related or dining purchases, maximize the signup offer, and use in conjunction with another card.
Perhaps you did not meet all of the requirements. You can ask the customer service team what you need to do to get accepted or you can look at other card options. You can also take a look on the best Bank of America credit cards to find an alternative.
If you travel frequently and will use the rewards on travel-related purchases then the Bank of America Travel Rewards Card could be the ideal fit for your situation.
Review Travel Credit Cards
American Express Platinum
American Express Gold
Chase Sapphire Preferred
Chase Sapphire Reserve
Capital One Venture X Rewards
TD First Class Visa Signature
Bank of America Travel Rewards
Capital One Venture Rewards
