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Bank of America® Travel Rewards credit card Review: A Solid Travel Card With a Big Bonus
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Offer status
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The Bank of America® Travel Rewards credit card isn't a perfect card for everyone, but it's quite competitive in a crowded field. In fact, Bank of America credit cards often find their way into many people’s wallets, thanks to the bank's size and coverage area. This specific card has a great deal to like, particularly for its target no-annual-fee audience. Find out more details in our Bank of America® Travel Rewards credit card review below.
Great for: Travel card with no annual fee Bank of America® Travel Rewards credit card
Rating image, 5.0 out of 5 stars.
5.0 stars
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.
Rewards
Unlimited 1.5x points, 25%-75% more points for Bank of America Preferred Rewards members
Annual Fee
$0
Intro APR
Purchases: 0%, 12 billing cycles
Balance Transfers: N/A
Ongoing APR
14.99% - 22.99%, variable
Bonus
25,000 points after spending $1,000 within 90 days
Highlights
- 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
- 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 flights, hotels, vacation packages, cruises, rental cars, or baggage fees
- If you're a Preferred Rewards member, you can earn 25% - 75% more points on every purchase
Top Perks
25,000 point sign-up bonus: A sign-up bonus provides a serious head start in the points total. This card sets the bar fairly low, too -- the bonus kicks in after you make at least $1,000 in qualifying purchases within 90 days of opening the account. It's worth noting that this is one of the biggest bonuses in a travel card with no annual fee.
Unlimited 1.5 points per $1: This card keeps it simple with a what-you-see-is-what-you-get 1.5 points per $1 on all transactions.
No annual fee: The card still offers many of the perks and features of rival cards that do charge an annual fee.
No foreign transaction fees: Foreign purchases aren't charged the de facto standard 3% fee that many other credit cards levy.
0% intro APR offer: The offer includes a 0% intro APR for 12 billing cycles for purchases.
Preferred Rewards bonuses: People loyal to Bank of America's products can earn 25% to 75% point bonuses through the Preferred Rewards program. The Preferred Rewards card bonus tiers are as follows:
- Gold Preferred Rewards: Earn a 25% points bonus.
- Platinum Preferred Rewards: Earn a 50% bonus.
- Platinum Honors Preferred Rewards: Earn a 75% bonus.
What could be improved
Bonus points for travel spending: It's unusual that a card billed as a travel rewards card doesn't offer bonus points for travel-related purchases, though this card has other perks for travelers. (The story is different with the Bank of America® Premium Rewards® credit card; see below). Yes, the Bank of America® Travel Rewards credit card earns cash back on all purchases at a flat rate, but there are no-annual-fee cards that feature a higher bonus rate for certain spending categories, such as groceries or travel.
Clumsy points redemption: It takes some hunting around Bank of America's site to find the redemption options, and even then it isn't 100% clear how to redeem points. Some cardholders may have to resort to calling the bank's customer service line for clarification on how to redeem points. An intuitive online redemption process would be preferable.
Suggested credit score
Bank of America says that good to excellent credit is required to obtain this card, so you should have a FICO® Score of at least 670 before applying. Of course, a higher score will increase your odds of approval. That said, approval is never guaranteed no matter your score, and some consumers with lower scores may still be able to qualify for this card.
Alternatives to consider
If you travel more than a couple of times per year: You might want to consider a travel credit card with an annual fee and more lucrative rewards. The Bank of America® Premium Rewards® credit card credit card comes with a modest annual fee and a higher rewards rate on travel and dining, as well as a sign-up bonus that's twice as big.
If you want to earn bonus points on travel and dining: Another great option is the Chase Sapphire Preferred® Card. It earns 2X points on travel and dining and 1X points on everything else. It also comes with a generous sign-up bonus, and points can be transferred to a long list of airline and hotel partners.
As of Sep. 01, 2020
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Bank of America® Premium Rewards® credit card |
Chase Sapphire Preferred® Card |
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Rating image, 4.5 out of 5 stars.
4.5 stars
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. |
Rating image, 5.0 out of 5 stars.
5.0 stars
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. |
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Apply Now
On Chase's Secure Website. |
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| Read Full Review | |
| Bonus: 50,000 points after spending $3,000 within 90 days | Bonus: 80,000 points after spending $4,000 within 3 months |
| Rewards Program: 2x points on travel & dining, unlimited 1.5x points on all else, 25%-75% more points for Bank of America Preferred Rewards members | Rewards Program: 2x points on travel and dining, 1x points on all other purchases. 25% more points for travel booked through Chase's portal. |
| Intro APR: Purchases: N/A Balance Transfers: N/A | Intro APR: Purchases: N/A Balance Transfers: N/A |
| Regular APR: 15.99% - 22.99%, variable | Regular APR: 15.99% - 22.99% Variable |
| Annual Fee: $95 | Annual Fee: $95 |
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Highlights:
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Highlights:
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Apply Now
On Chase's Secure Website. |
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This credit card is right for you if:
The Bank of America® Travel Rewards credit card is best for occasional travelers looking for a good travel credit card with no annual fee. The intro bonus is one of the biggest in the no-annual-fee category and it's also very well suited to existing Bank of America customers, especially if they are enrolled in one of the Preferred Rewards programs. You won't find a no-annual-fee travel card that offers such a lucrative earnings rate for the highest Preferred Rewards tiers.
About the Author
Elizabeth is a personal finance writer specializing in credit cards, debt repayment, and small business. Her work has appeared on The Motley Fool, MSN Money, Yahoo! Finance, and Business Insider. She’s an avid credit card points collector and perpetual traveler currently living in Costa Rica.
