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The Bank of America® Travel Rewards credit card offers solid travel rewards with no annual fee.
Earning 1.5 points per dollar spent on all purchases is nothing to sneeze at, and when paired with no annual fee and the ability to earn even more bonus points with a Bank of America® checking or savings account, this card could be quite valuable.
The Bank of America® Travel Rewards credit card also has a simple and straightforward rewards program: points can be redeemed as a statement credit to cover travel expenses. This means you book your travel as you normally would, without needing to transfer points to airlines or hotels that might have blackout dates or restrictions.
Between these rewards and no foreign transaction fee, this card could save you money on travel.
One of the big draws of the card is the lack of an annual fee. However, if you’re willing to pay an annual fee, spend thousands of dollars on travel a year or want to redeem rewards for cash as well as travel, you’ll likely get better value from another card.
|What we like||Heads up|
From our partner
- The rundown: Everything we like about the Bank of America® Travel Rewards credit card
- Heads up: What you should consider before applying for the Bank of America® Travel Rewards credit card
- Do the math: How to get the most out of the Bank of America® Travel Rewards credit card
- The competition: How the Bank of America® Travel Rewards credit card stacks up against similar cards
- Bottom line: Is the Bank of America® Travel Rewards credit card right for you?
The Bank of America® Travel Rewards credit card is a great option if you’re looking for a travel rewards card but aren’t willing to pay an annual fee.
Earn rewards simply
At 1.5 points per dollar spent on all purchases, you’ll earn solid rewards on everything — not just travel-related purchases.
No annual fee
If you’re spending thousands of dollars on travel per year, the rewards you earn on other travel cards will usually offset their annual fee. But if you’re spending less on travel or not eager to do the math to make sure you’ll come out ahead, the Bank of America® Travel Rewards credit card could be a good fit for you.
Sign-up bonus points for early spending
You’ll get a sign-up bonus of 20,000 points if you make at least $1,000 in purchases within 90 days of opening your account.
Opportunities to earn even more rewards
If you have a Bank of America® checking or savings account, you’ll earn 10 percent more points on all of your purchases. If you reach certain balance thresholds in your Bank of America® checking or savings account, you can earn even more — up to a 75 percent bonus on points earned if you have at least $100,000 in your account.
No foreign transaction fee
Like many travel rewards cards, the Bank of America® Travel Rewards credit card has no foreign transaction fee. This can add up to major savings if you travel overseas.
No blackout dates, restrictions or expiration dates
Unlike travel rewards cards that are linked to specific airlines or hotel chains, you can use your rewards to fund travel expenses from all sorts of merchants, which is great for travelers who value flexibility over loyalty to one vendor or chain.
2. Heads up: What you should consider before applying for the Bank of America® Travel Rewards Credit Card
This card is a solid travel rewards card, but it may not be for everyone. Here are some of the trade-offs.
Other travel rewards cards offer better rewards
If you’re willing to pay an annual fee, you’ll be able to earn better rewards with another card.
For instance, with the Capital One® Venture® Rewards Credit Card you’ll earn two miles per dollar spent on all purchases. Also, you can qualify for a 50,000 mile bonus if you spend at least $3,000 on purchases in the first three months of your account opening. While the card does come with an annual fee ($0 intro, $95 after first year), if you spend at least $4,750 per year on the card, you’ll offset the fee with the rewards.
You earn a lower redemption value for cash than for travel
While the Bank of America® Travel Rewards credit card does allow you the flexibility to redeem points for cash instead of statement credit for travel, it’s at a significantly lower value. You can redeem points for statement credit for travel at a rate of 1 cent per point, but only just over half a cent per point for cash. Also, keep in mind that the minimum redemption for travel credit or cash reward starts at 2,500 points and the minimum gift card redemption threshold starts at 3,125 points.
If you’d like the flexibility of using your rewards to cover rent, clothes or anything else other than travel, you’ll likely get more value from another card.
The Bank of America® Travel Rewards credit card is fairly flexible, but there are some key ways to maximize your rewards.
Sign up for a Bank of America® checking or savings account
Bank of America® checking or savings account holders receive 10% bonus points on all points they earn with this card. For example, without the booster, if you spent $5,000 on your card, you’d receive 7,500 points, worth $75 in travel statement credit. Customers with a Bank of America® checking or savings account would receive a 10% point bonus, bringing them to 8,250 points or $82.50.
Increase your balance
While anyone with a Bank of America® checking or savings account gets the 10% customer bonus, you can earn even more rewards by keeping more money in your account. If you have at least $20,000 in your account, you’ll earn 25% bonus points on all points you earn with your card. If you have at least $100,000, you’ll earn a whopping 75% bonus points.
Buy travel through the Bank of America® Travel Center
While you earn 1.5 points on every dollar spent, you can earn an additional 1.5 bonus points (for a total of three points per dollar spent) on travel booked through the Bank of America® Travel Center. If you’re spending heavily on travel, these rewards can add up — and be put toward more travel.
4. The competition: How the Bank of America® Travel Rewards Credit Card stacks up against similar cards
|Chase Sapphire Preferred® Card||Best flexible travel rewards|
|Capital One® Venture® Rewards Credit Card||Best rewards on all purchases|
|Starwood Preferred Guest® Credit Card from American Express||Great for hotel rewards|
Chase Sapphire Preferred® Card
With generous rewards and a strong sign-up bonus, this card is a contender for a spot in your wallet. You’ll need to spend thousands of dollars on travel a year to offset the annual fee ($0 intro, $95 after first year), but if that’s no problem for you, it may be worth it.
Capital One® Venture® Rewards Credit Card
Earning two miles per dollar spent is nothing to scoff at, especially considering the large sign-up bonus.
Starwood Preferred Guest® Credit Card from American Express
If you’re loyal to Starwood hotels, it’s hard to go wrong with this card. Although, it has an annual fee of $0 intro, $95 after first year.
From cardholders in the last year
The Bank of America® Travel Rewards credit card is a solid travel rewards card with no annual fee and relatively flexible rewards. Between no foreign transaction fee and no annual fee, this card can save you money on travel without committing you to an upfront fee.
If you find yourself spending thousands of dollars on travel each year, or if you’re looking to redeem some of your points for cash rather than travel, you may get better value with another card.
But if you do choose this card, consider opening a Bank of America® checking or savings account to get the most value out of the card.
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