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Ranking the Bank of America® Travel Rewards Credit Card 

 

Rewards Program (30 points)

  • Points, Miles, or Cash Back Rates (10 points): It earns unlimited 1.5 points per dollar on all purchases.
  • Redemption Flexibility (10 points): Points can be redeemed for travel, cash, and other options without restrictions.
  • Rewards Expiration and Transfer Options (5 points): Points never expire but can’t be transferred to partners.

Subtotal: 25 points

 

Welcome Offer (20 points)

  • Value (10 points): Offers 25,000 points ($250 value) for spending $1,000 in 90 days.
  • Ease of Earning (5 points): The spending requirement is relatively low.

Subtotal: 15 points

 

Fees (10 points)

  • Annual Fee (6 points): No annual fee.
  • Foreign Transaction Fees (4 points): No foreign transaction fees.

Subtotal: 10 points

 

APR and Financing Options (15 points)

  • Introductory APR (5 points): 0% APR for 18 months on purchases.
  • Standard APR (2 points): High APR of 20%+.
  • Balance Transfer Options (3 points): Standard 3% balance transfer fee.

Subtotal: 10 points

 

Cardholder Benefits (15 points)

  • Travel Benefits (4 points): No foreign transaction fees, but no premium travel perks.
  • Purchase Protection and Insurance (3 points): Limited coverage.
  • Other Perks (4 points): Some Bank of America offers but no unique perks.

Subtotal: 11 points

 

Subjective Prestige (10 points)

  • Perceived Status and Exclusivity (1 points): Widely available with no exclusivity.

Subtotal: 1 points

 

Total Score: 72 points

 

Recommendation

The card falls into the “Recommended with reservations” category, suitable for users seeking a no-annual-fee travel card with straightforward rewards but limited premium benefits.

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At Credit Mileage, we believe smart credit management is one of the key cornerstones for sound personal finance. Using credit from an educated point of view so that you don’t accumulate debt while swiping to maximize and best utilize the points and rewards programs that different credit cards offer is at the heart of what Credit Mileage aims to educate consumers about.

That’s why we offer a wide array of educational and editorial content and credit card reviews so that you can choose the best card to achieve your goals, depending on which type of points/rewards programs you like.

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