Card Score: ✅✅✅ 3.6/5
*The credit card score is based on the sole opinion of Credit Mileage without input or influence from the card issuer.
Bank of America Travel Rewards Card Overview
The Bank of America Travel Rewards credit card is an appealing option for those seeking a straightforward travel rewards card without the hassle of annual fees or complicated redemption structures. With its unlimited 1.5 points per dollar on all purchases and no foreign transaction fees, it stands out as a practical choice for everyday use and travel. In this review, we’ll explore the card’s benefits, drawbacks, and how it stacks up against other travel credit cards.
Rewards Program Overview
The Bank of America Travel Rewards credit card offers a straightforward rewards structure:
- 1.5 points per $1 spent: This earning rate applies to all purchases, with no categories or spending caps to worry about.
- No expiration on points: As long as the account remains open, your points will not expire.
- Flexible redemption options: Points can be redeemed for travel-related expenses, such as flights, hotels, vacation rentals, baggage fees, and even cruises.
One of the most significant advantages of the Travel Rewards card is its simplicity. For cardholders who prefer a no-fuss approach to earning travel rewards, this card’s flat-rate rewards structure is appealing.
Sign-Up Bonus
The Bank of America Travel Rewards card offers a sign-up bonus:
- 25,000 online bonus points: Earned after spending $1,000 on purchases in the first 90 days of account opening. This is equivalent to a $250 statement credit toward travel purchases.
- Ease of earning the bonus: The $1,000 spending requirement is relatively low compared to other travel rewards cards, making the sign-up bonus more accessible to a wider range of users.
Bank of America Travel Rewards Card Fees
The Bank of America Travel Rewards credit card is known for its cost-effectiveness:
- Annual fee: $0.
- Foreign transaction fees: None, making it a good choice for international travel.
- Balance transfer fees: 3% of the amount of each transfer or a minimum of $10.
- Cash advance fee: $10 or 3% of the amount of each transaction.
APR and Financing Options
The card comes with a competitive introductory offer and standard rates:
- 0% introductory APR on purchases for 18 billing cycles: This is particularly useful for cardholders who plan on making significant purchases early on.
- Standard APR: Variable APR ranging from 18.24% to 28.24% based on creditworthiness.
- Balance transfer APR: Same as the standard APR, with no special introductory rate.
Although the introductory APR for purchases is helpful, the absence of a 0% APR for balance transfers may limit its usefulness for those looking to consolidate debt.
Cardholder Benefits
The Bank of America Travel Rewards card comes with basic cardholder benefits, including:
- Travel Accident Insurance: Provides coverage for travel-related accidents.
- 24/7 customer service: Offers assistance with any travel-related or card issues.
- No foreign transaction fees: A significant benefit for frequent travelers.
- Preferred Rewards Program Bonuses: For Bank of America clients who qualify, the program offers additional bonuses, ranging from 25% to 75% more rewards points based on your balance with the bank.
While these benefits are useful, the card does not include more premium travel perks like complimentary lounge access or travel credits.
Pros and Cons of the Bank of America Travel Rewards Credit Card
Pros:
- No annual fee: Allows users to earn rewards without the pressure of offsetting an annual fee.
- Unlimited 1.5 points per dollar on all purchases: Makes it easy to earn rewards without having to track spending categories.
- No foreign transaction fees: Ideal for international travelers who want to avoid extra charges on foreign purchases.
- Flexible redemption options: Points can be used for travel expenses like flights, hotels, vacation packages, and more.
- Additional rewards for Bank of America customers: Preferred Rewards members can earn a bonus of 25%-75% more points on each purchase.
Cons:
- Lower rewards rate compared to premium travel cards: Some cards offer higher points per dollar on travel-related purchases.
- Limited travel perks: Lacks premium travel benefits like airport lounge access or travel insurance.
- No sign-up bonus introductory APR on balance transfers: While there is a 0% introductory APR on purchases for 18 billing cycles, it does not apply to balance transfers.
- Lower point valuation compared to flexible points programs: Points may not go as far as those from cards with premium transfer partners.
Bank of America Travel Rewards Credit Card Compared to Other Travel Rewards Credit Cards
Comparing the Bank of America Travel Rewards credit card to other travel cards helps highlight its strengths and weaknesses:
Chase Sapphire Preferred
Read our review of the Chase Sapphire Preferred card here.
- Rewards Structure: Offers 5x points on travel purchased through Chase Ultimate Rewards, 3x points on dining, and 2x on other travel. The base rate for all other purchases is 1x points.
- Annual Fee: $95, which is higher than the Bank of America Travel Rewards card’s $0 annual fee.
- Sign-Up Bonus: Provides a sign-up bonus of 60,000 points after spending $4,000 in the first three months, valued at $750 when redeemed for travel through Chase Ultimate Rewards.
- Benefits: Offers travel insurance, purchase protection, and access to Chase Ultimate Rewards, which allows transferring points to multiple airline and hotel partners.
If you travel often and value flexible redemption options and premium benefits, the Chase Sapphire Preferred may offer more value despite its annual fee. However, if you prefer to avoid an annual fee and still earn rewards on all purchases, the Bank of America Travel Rewards card could be a better fit.
Capital One Venture Rewards
Read our review of the Capital One Venture Rewards card here.
- Rewards Structure: Offers a higher rate of 2x miles per $1 on all purchases.
- Annual Fee: $95.
- Sign-Up Bonus: 75,000 miles after spending $4,000 within three months.
- Benefits: Includes travel insurance, TSA PreCheck/Global Entry fee credits, and no foreign transaction fees.
While the Capital One Venture Rewards card has a higher earning rate and additional travel perks, its annual fee may not be worthwhile if you prefer a no-fee card.
Final Thoughts: Is the Bank of America Travel Rewards Credit Card Worth It?
The Bank of America Travel Rewards credit card is an attractive choice for those seeking a travel rewards card without the cost of an annual fee. It offers unlimited 1.5 points per dollar spent, a valuable sign-up bonus, and no foreign transaction fees, making it ideal for casual travelers and those who prefer a straightforward rewards structure.
However, if you’re a frequent traveler or looking for premium travel perks like airport lounge access or travel credits, other cards like the Chase Sapphire Preferred or Capital One Venture Rewards may be better suited to your needs, albeit with an annual fee.
Overall, the Bank of America Travel Rewards card provides solid value with its no-fee structure and flexible rewards, making it a good fit for users who want to earn travel rewards without overcomplicating their finances.