Key takeaways
- The Bank of America® Travel Rewards credit card offers simplicity and low fees as a travel rewards starter card.
- The rewards rate and perks aren’t likely to appeal to people with robust travel rewards experience.
- The card does, however, offer an introductory APR period, which is uncommon among travel rewards cards.
The Bank of America® Travel Rewards credit card brings simplicity, low fees, and an intro APR offer to the competitive world of travel credit cards. But is this card the right choice for you?
You may find that other travel rewards cards offer higher rewards and redemption values. However, under certain circumstances, the Bank of America Travel card could still be a valuable addition to your wallet.
When is the Bank of America Travel Rewards card worth it?
The Bank of America Travel card can be a valuable option as a travel rewards starter card, especially if you already bank with Bank of America. Here are some scenarios where the card shines:
If you want a straightforward rewards structure
The card offers unlimited 1.5X points on all purchases, matching the rates of many flat-rate cards. While not exceptionally high, this rate is easy to understand with no categories or spending limits to track. Additionally, your points do not expire as long as your account is active.
The welcome bonus is also attainable – simply spend $1,000 on purchases within 90 days of opening your account to receive 25,000 online bonus points, equivalent to $250 in statement credit for travel purchases. With no annual fee, you can earn rewards effortlessly on every purchase.
If you need an introductory APR offer
The card stands out with a 0% intro APR for 15 billing cycles on purchases and balance transfers made within the first 60 days of account opening. After the intro period, the variable APR of 19.24% to 29.24% applies. Note that a 3% balance transfer fee is applicable during the first 60 days, increasing to 4% afterwards.
While balance transfers do not earn rewards or count towards the welcome bonus, purchases during the intro APR period do earn points and contribute to meeting the bonus spending requirement.
If you want to redeem rewards for travel or dining
Bank of America points can be redeemed for various options, including statement credit, gift cards, checks, or direct deposits. Notably, you can retroactively redeem points as statement credits on eligible travel and dining purchases up to 12 months after the purchase date.
Redemption options for travel include flights, hotels, vacation rentals, car rentals, and more. Similarly, dining redemptions cover restaurants, takeout, and bars. Each point is worth 1 cent when redeemed for travel or dining, offering flexibility in how you use your rewards.
If you want valuable travel perks
The card does not charge foreign transaction fees, making it convenient for international travel. As a Visa Signature card, it also provides benefits like concierge services, emergency card replacement, and travel assistance.
If you have a Bank of America or Merrill bank account
Existing or potential Bank of America and Merrill customers may benefit from the Bank of America Travel Rewards card, especially with the Preferred Rewards program. Members can earn up to 75% more rewards on purchases, depending on their account balances.
If you qualify for Preferred Rewards, you can significantly boost your rewards earnings, making this card more appealing for Bank of America customers.
When is the Bank of America Travel Rewards card not worth it?
Before applying for the card, consider your financial priorities. There are drawbacks to the card that may make it unsuitable for certain cardholders. If the following situations apply to you, you may want to explore other card options:
If you prefer a comprehensive travel program
Despite its name, the Bank of America Travel Rewards card lacks extensive travel features. While it offers a travel portal for bookings, it does not have airline or hotel partners for point transfers.
For maximizing rewards potential, other programs like Chase Ultimate Rewards or American Express Membership Rewards may offer better value, especially during periods of high travel prices.
Should you get the Bank of America Travel Rewards card?
If you seek simple, reliable rewards while managing debts or making significant purchases, the Bank of America Travel Rewards card is a solid choice. The intro APR allows you to focus on paying off balances without accruing high interest. Plus, the 1.5X points on all purchases provide a decent rewards rate for a no-annual-fee card.
However, as your sole card or primary travel card, the Bank of America Travel Rewards card may have limitations. Without the ability to transfer points to travel partners or receive higher rewards value for travel bookings, you may find better options elsewhere.
The bottom line
The Bank of America Travel Rewards card is ideal for those who value simplicity and a straightforward rewards structure. While it may lack certain travel features, its low fees and intro APR offers make it a practical choice for many cardholders. Unless you qualify for Preferred Rewards, there may be better travel rewards cards available.
Information about the Bank of America® Travel Rewards credit card was last updated on July 16, 2024.