Bank of America® Travel Rewards Credit Card is an annual fee-free credit card that offers unlimited 1.5 points per dollar with every purchase and gives cardholders the ability to use these rewards as a statement for travel and food expenses.
This gives you spending and booking flexibility that you don’t always see with travel credit cards, many of which require you to make purchases through certain loyalty programs or online portals before you can maximize your rewards.
In addition, new cardholders can earn a $250 Welcome Bonus (25,000 Bonus Points after you spend $1,000 in the first 90 days) by taking advantage of 18 billing cycles with zero APR on purchases and transfers balance (made within the first 60 days). After that, the regular annual rate will range from 16.99 to 26.99 percent.
The Bank of America Travel Rewards card doesn’t offer as many perks as some of its competitors. However, cardholders looking for a top-notch travel card that doesn’t incur a hefty annual fee may be very happy with what it has to offer.
So, should you have a Bank of America Travel bonus card in your wallet instead of another card? Let’s look at some scenarios when it’s worth it and when it’s not.
When should I use my Bank of America Travel Rewards card?
When you enjoy the unlimited potential of points
The Bank of America Travel Rewards card offers unlimited 1.5x point rewards on every purchase. This gives you the freedom to earn travel rewards every time you use your card, whether you’re shopping for groceries, shopping online, visiting your favorite restaurant, or booking your next flight.
Having a fixed rate reward card in your wallet makes it easy to maximize your credit card rewards. When every shopping trip brings the same 1.5 points per dollar, you don’t have to worry about changing reward categories or using one credit card for groceries and another credit card for gas. All you have to do is use your Bank of America Travel Rewards card for everyday spending and you’ll get the most out of every purchase you make.
New cardholders also have the opportunity to earn a $250 welcome bonus. If you spend $1,000 in the first 90 days of owning a card, you’ll earn 25,000 Reward Points to spend on your next trip.
While it’s great that the card offers higher rewards even on regular trips, you have some incentive to book your trips through the Bank of America Travel Center. You will earn 3 times more points if you use the online portal to book flights or a hotel room.
When you appreciate flexible redemption
Want to get rewarded by Bank of America? The possibilities are almost endless. Unlike other travel credit cards that reserve the highest interest rate for cardholders who book with a specific airline or shop through a dedicated travel portal, the Bank of America Travel Rewards card offers an easy and flexible way to redeem your points—regardless of where you are booking your trip.
Once you use your card to pay for travel or meals, including flights, hotel reservations, travel packages, car rentals, baggage fees, restaurants, and takeaways, you can use some or all of your points as a credit statement. accounts for these purchases (with a minimum of 2500 points required to start the redemption process). You won’t feel limited to multiple redemption options because your rewards are equally valuable across most travel and dining experiences.
When you use Bank of America or Merrill banking services
The card can be even more attractive if you use a Bank of America bank or have a Merrill investment account. Current Bank of America customers with an average daily balance of at least $20,000 within three months are eligible for the lowest tier (Gold) of Preferred Rewards. By becoming a Preferred Rewards member, you will enjoy a variety of benefits, including an increased reward earning ratio on your Bank of America card.
For example, if you qualify for the Gold tier, your reward rate can go up to 1.875 points per dollar. The top tiers in Preferred Rewards can boost your rewards by up to 75 percent, potentially increasing your reward ratio to 2,625 points per dollar. This is a higher rate than most fixed rate cards.
When is a Bank of America Travel Rewards card not worth it?
When you need extra travel privileges
While the Bank of America Travel Rewards card offers unlimited reward potential, some frequent travelers may need a travel credit card for a few more benefits and perks. Many of today’s best travel credit cards increase their value by offering additional rewards such as TSA pre-screening credits and Global Entry fees or free airport lounge access. Some credit cards provide annual airfare vouchers or give you the opportunity to earn free companion tickets or hotel stays. Unfortunately, the Bank of America Travel card does not offer these benefits, although it does have car rental damages and lost luggage reimbursement.
Cardholders who spend a lot of time at the airport and need access to the lounge or want to enjoy a free breakfast at the hotel every morning should look into other travel cards. Note that the cards that offer the most rewards and perks often have the highest annual fees, and some premium credit cards, such as the Chase Sapphire Reserve or Platinum Card® from American Express, charge cardholders over $500 per year. year for this privilege. account management.
Should you get a Bank of America Travel Rewards card?
If you want the flexibility to book flights and hotels without being limited to one travel provider or issuer’s booking portal, the Bank of America Travel Rewards card might be a good choice. If you’re looking for a travel card that offers fixed rewards on every purchase, this is a great option.
Don’t forget about other card benefits, including a $250 signup bonus and an introductory 0% annual interest rate for 18 billing cycles on purchases and balance transfers.
bottom line
The Bank of America Travel Rewards Card is a good choice for anyone looking for a flexible, simple, and straightforward travel card that allows you to earn unlimited rewards. However, if you’re looking for a travel credit card that offers TSA PreCheck app credit, airport lounge access, and other frequent flyer perks, there are a few other options you can consider.
Just be aware that the travel credit cards that offer the most perks also have the highest annual fees. The Bank of America Travel Rewards card has no annual fee, which is important if you want to earn rewards and book trips without covering the cost of owning the card.
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