Our Verdict
The Bank of America® Travel Rewards credit card may appeal to occasional travelers who want a no annual fee credit card with a simple rewards system. But the card lacks the meaningful perks you can find on competing travel credit cards without annual fees. The exception is for members of Bank of America’s Preferred Rewards program who qualify to earn rewards at a higher rate. But most will find greater benefits with another card.
Pros
- Earn unlimited rewards
- Bank of America Preferred Rewards clients earn 25% to 75% more points on every purchase
- No foreign transaction fees
Cons
- No bonus categories to boost reward earnings
- No travel perks
- Can only redeem rewards as a statement credit for travel and dining purchases
Current Bank of America Travel Rewards Credit Card Offer
- 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 as long as your account remains open.
- 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 travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.49% – 28.49% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
- If you’re a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
- Contactless Cards – The security of a chip card, with the convenience of a tap.
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Table Of Contents
- Bank of America Travel Rewards Credit Card Introduction
- Quick Facts
- What Is the Bank of America Travel Rewards Credit Card Best For?
- Bank of America Travel Rewards Rates, Fees and Regulations
- Bank of America Travel Rewards Credit Card Benefits
- How the Bank of America Travel Rewards Credit Card Stacks Up
- Alternatives to the Bank of America Travel Rewards Credit Card
- Is the Bank of America Travel Rewards Credit Card for You?
- Bank of America Travel Rewards Card Review Methodology
- Frequently Asked Questions (FAQs)
Bank of America Travel Rewards Credit Card Introduction
I love credit cards, but I don’t love how confusing some reward structures can be. The Bank of America® Travel Rewards credit card simplifies things by offering a straightforward 1.5 points per dollar on all purchases.
While this isn’t the highest earning rate on a flat-rate rewards credit card, it works well for me since I actually get a rewards boost on every dollar I spend on the card thanks to my membership with Bank of America’s Preferred Rewards program. Depending on how much you have on deposit with Bank of America or Merrill, you, too, can get a 25% to 75% bonus on every point you earn, which can add up over time.
As a self-proclaimed budget traveler, this card is perfect for my needs. It’s not geared toward luxury travelers, and Bank of America’s approach to travel rewards reflects that—it doesn’t come with the perks other travel cards offer. But that’s exactly why I like it. However, it still comes with some helpful travel benefits. As a Visa Signature card, I can access some extras, like concierge services and exclusive perks through the Visa Signature Hotel Collection. While I’m not splurging on five-star stays, these benefits help make my travel experience a little more enjoyable—without the luxury price tag.
Quick Facts
- $0 annual fee
- Earn 1.5 points per dollar on all purchases
- No foreign transaction fees
- Points can be redeemed as a statement credit toward travel and dining purchases
- Preferred Rewards members can earn 25% to 75% more points
What Is the Bank of America Travel Rewards Credit Card Best For?
The Bank of America® Travel Rewards credit card is best for earning unlimited travel rewards. With no bonus categories to track, the card is a fit for someone who values simplicity over complicated earnings programs.
| List | Best For | Reason |
|---|---|---|
| Best for Earning Travel Rewards | The Bank of America® Travel Rewards credit card is made with travelers in mind. Cardholders earn flat-rate rewards for every dollar they spend, regardless of category. |
Bank of America Travel Rewards Rates, Fees and Regulations
Rates
- Regular APR: 18.49% - 28.49% Variable APR on purchases and balance transfers
- Purchase intro APR: 0% Intro APR for 15 billing cycles for purchases
- Balance transfer intro APR: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
Fees
- Annual fee: $0
- Balance transfer fee: 3% for 60 days from account opening, then 4%
- Foreign transaction fee: None
Bank of America Travel Rewards Credit Card Credit Requirements
A good credit score will go a long way toward approval for any credit card, including the Bank of America Travel Rewards card. Lenders and banks often use the FICO scoring model to make credit decisions, with scores that range from a low of 300 to a perfect score of 850. A “good” score typically falls between 670 and 739. However, your credit score isn’t the only factor that lenders consider.
Banks will also look at your income and employment history to ensure you can pay your credit card bills. A steady income and low debt may help strengthen your application, even if your credit score is on the lower end of the “good” range.
Earning Rewards
The Bank of America® Travel Rewards credit card earns 1.5 points per dollar on all purchases.
Bank of America Preferred Rewards members earn a 25% to 75% bonus on all points earned, depending on program qualification level. The entry-level of the program requires a balance of $20,000 or more in eligible Bank of America or Merrill accounts, with the highest tiers requiring a balance of at least $100,000.
The Bank of America Travel Rewards Card offers a one-time welcome bonus of 25,000 online bonus points after spending $1,000 in purchases in the first 90 days of account opening.
Redeeming Rewards
Points earned through the Bank of America® Travel Rewards credit card can be redeemed for statement credits starting at 2,500 points to pay for flights, hotels, vacation packages, cruises, rental cars, baggage fees and restaurants, including takeout. Each point is worth 1 cent when redeemed this way.
Other ways to redeem rewards include for gift cards and cash back, but these redemptions have lower rates. Each point redeemed for cash is worth 0.006 of a cent (2,500 points = $15). Gift card redemptions vary in value per point.
Rewards Potential
To determine the reward potential of a credit card, we look at its reward categories and calculate what an average household might spend in those areas. Forbes Advisor uses data from various government agencies to determine baseline income and spending averages across various categories. The 70th percentile of wage-earning households brings in $118,438 annually and has $39,337 in annual expenses that can reasonably be charged to credit cards. We base our calculations on these numbers.
Bank of America® Travel Rewards credit card Rewards Potential
| Category | Earning Rate | Estimated Annual Spend | Estimated Annual Earnings |
|---|---|---|---|
| All Purchases | 1.5X | $39,337 | 59,005.5 points |
| Total: $590.06 in Statement Credits |
Members of the Bank of America Preferred Rewards program can do even better.
- Gold (25% points boost): 73,756 points (equivalent to $737.57 in travel redemption credits)
- Platinum (50% points boost): 88,508 points (equivalent to $885.08 in travel redemption credits)
- Platinum Honors and Diamond (75% points boost): 103,259 points (equivalent to $1,032.60 in travel redemption credits)
Bank of America Travel Rewards Credit Card Benefits
- $0 liability guarantee. Cardholders not liable for fraudulent transactions.
- Access to your FICO Score. Free monthly FICO Score update within the mobile or online banking apps.
- Visa Signature perks. Additional Visa Signature perks include access to the Visa Signature Luxury Hotel Collection.
How the Bank of America Travel Rewards Credit Card Stacks Up
Bank of America® Travel Rewards credit card vs. Capital One VentureOne Rewards Credit Card
Another option for those looking for a no annual fee travel rewards card with a simple earnings structure is the Capital One VentureOne Rewards Credit Card (rates & fees). It earns 5 miles per dollar on hotels and rental cars booked through Capital One Travel and 1.25 miles per dollar on every other purchase—not quite as much as the standard earn rate on the Bank of America® Travel Rewards credit card. However, the VentureOne card offers the ability to transfer miles to multiple Capital One partners, giving you a potential increase in value.
Bank of America® Travel Rewards credit card vs. Chase Freedom Flex®
The Chase Freedom Flex® is a Forbes Advisor top pick for cash-back credit cards and no annual fee credit cards, and with good reason. It offers 5% cash back on up to $1,500 in combined purchases in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases. Most people will come out ahead with this rewards structure compared to the Bank of America® Travel Rewards credit card.
For those who have a premium Chase Ultimate Rewards®-earning card like the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, the rewards earned through the Chase Freedom Flex can be pooled or transferred to Chase’s travel partners.
Bank of America® Travel Rewards credit card vs. Bank of America® Premium Rewards® credit card
The Bank of America® Premium Rewards® credit card is the bigger sibling card with a $95 annual fee. It offers 2 points per dollar on travel and dining purchases and 1.5 points per dollar on all other purchases. Cardholders would need to spend $4,750 on travel and dining to break even with the annual fee vs what they would earn with the no annual fee Bank of America Travel Rewards Card.
However, the Premium rewards card also offers a $100 airline incidental credit each year and a Global Entry or TSA PreCheck® application fee credit every four years. Assuming these benefits are utilized, it’s easy to come out ahead of the annual fee. However, those unsure if they can maximize these benefits will likely be better served by the Travel Rewards card with no annual fee.
Alternatives to the Bank of America Travel Rewards Credit Card
Is the Bank of America Travel Rewards Credit Card for You?
The Bank of America® Travel Rewards credit card is likely best suited for occasional travelers who aren’t looking for luxury travel perks. The simple rewards system—1.5 points per dollar on all purchases—makes this a rewards card that eliminates headaches over figuring out the best ways to maximize spending. This card doesn’t offer many enticing additional benefits, so someone who wants to dedicate rewards strictly to travel might consider this card.
Bank of America Travel Rewards Card Review Methodology
Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including:
- Annual fees
- Welcome bonus offers
- Ongoing earning rates
- Value of individual rewards
- Included travel or merchant credits
- Additional cardholder benefits
Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors come together to provide a star rating for each individual card.
To learn more about our rating and review methodology and editorial process, check out our guide on how Forbes Advisor rates credit cards.
Frequently Asked Questions (FAQs)
How do I use Bank of America Travel Rewards?
The Bank of America® Travel Rewards credit card earns 1.5 points per dollar on all purchases. Points can be redeemed as statement credits toward travel purchases such as flights, hotels, vacation packages, cruises, rental cars and baggage fees and dining purchases.
Do Bank of America Travel Rewards points expire?
Points earned with the Bank of America® Travel Rewards credit card don’t expire if your account remains open with active charging privileges. Points may be forfeited if the account is closed for any reason.
How much are Bank of America Travel Rewards points worth?
Point values vary depending on how you use them. Points redeemed for travel and dining purchases are worth 1 cent each. You can begin redeeming points when you have at least 2,500. Those 2,500 are worth $25 when redeemed for travel or dining. Cash-back redemption is worth 0.006 cents, so 2,500 points would be worth $15.
What credit score do you need to apply for the Bank of America Travel Rewards credit card?
Credit card issuers consider more than just your credit score, and no score guarantees approval. Aim for a good credit score, which FICO typically defines as between 670 and 739, to qualify for the Bank of America® Travel Rewards credit card.
Does the Bank of America Travel Rewards credit card have travel insurance?
No, the Bank of America Travel Rewards card doesn’t come with travel insurance, but as a Visa Signature card, it does come with zero liability protection as well as emergency card replacement if your card is lost or stolen.
