It could be better.
Approved for this card, application took about 60 seconds and I got instant approval. $1,500 CL (which I was pretty less than impressed by [FICO at 731]). The 20,000 point sign-up bonus is a little less than sub-par for gaining actual points with BoA. However, since this card comes with No Foreign Transaction Fees with NO AF and has the worldwide acceptance of being a Visa card, it's really a no-brainer to get for someone who travels out of the country or travels in general very rarely. Card looks a little more impressive in person than it does in the pictures, quite a nice shine to the card.
One other downside is the amount of time it took to receive the card in the mail. BoA does not offer credit card numbers after approval so you must wait for the physical card to come in the mail. The website advertises 7-10 business days, which I laughed at and knew wouldn't be true with my history of receiving other cards much quicker than that. However, 10 business days later, this card arrived in the mail. Yes, 10 full business days. Which, depending on the day you're approved in the week could put you at almost 2 full weeks without having your card (which will also count against you spending days that you can contribute to your sign-up bonus since the bonus is given 90 days AFTER ACCOUNT OPEN; that means when you get approved not when you get the card in the mail).
The sign-up bonus isn't really a whole lot of spending but I can see how that would be a problem for people to obtain having missed almost two weeks in just receiving the card.
TL;DR - Fast approval, baby credit limit, sub-par sign-up bonus, no AF, no FX fees, card takes forever to get in the mail.
Approved after 14-day 'pending'
So far so good.....II got the dreaded "your application requires additional review, we'll let you know in 14 days." I assumed the worst, but hoped for the best. Unfortunately, I appolied on a Saturday and the bank card services dept is closed on the weekends - so I had to wait & wonder all weekend if I threw away a hard pull for naught. Called Monday AM and talked to a credit analyst and they approved me on the phone immediately.
Approved for a relatively low $2,500 CL initially, but I can't blame them since I've been slowly pulling up my credit scores over the last year or so....
Started off with 580ish scores about 6+ monthsa go, up to 690ish now with some due diligence and focus. Like many folks, I made some dumb mistakes when younger that are still biting me in the a** today (they're almost aged off all 3 credit reports, can't wait for that day).
Scores were 670 (EX) which BofA used. 680 EQ. 701 TU. Income is around $250,000.
Great for points
I've had this card for 10 years and have earned over 500,000 points. I pay no fees and because of my Merrill Edge accounts and I earn 2.625 points per dollar which is great. Points can be used to redeem on any travel expenses just by selecting them on your past statements. Best deal I can find and I also do all my banking with B of A because of this. I'm a Platinum Honors client which also earns me 100 free trades per month and no monthly fees anywhere.
I love this card! Great benefits and no international fees.
Great if you have your assets with bank
This is a great card in terms of rewards if you have accounts with Bank of America. Being a gold/platinum/platinum preferred member gets you additional cash back of 25/50/75 % more rewards there by increasing the base rewards. Not just the checking/savings and some of the brokerage accounts with the bank are considered in determining the preferred status.
Pretty Great!
I love this card because of the no transaction fee, and no annual fee. I used this card in spain, and it was actually a lot cheaper for us. Everywhere I went they said each euro was 1.18-1.35, but I paid the minimum with no hidden fees.... each euro was 1.12. I recommend this card. I would also like to note that there is an 11 months period with 0 APR!!
However, the only downside is that Bank of America isn't the best because of the dumb fees they have (nothing bad with this card thus far).
Great card to have!
I applied for the card on 6/21 and got pending approval for review. I'm so happy BofA didn't outright approve the card without first checking credit information to verify my identity. I never received a phone call but did receive an "Congratulations... you've been approved" email on 7/5 (with 7-10 business days to receive card in mail)!! ! I have AMEX PRG card, AMEX Everyday card, CAP1 QuickSilver VISA (has MC but transferred credit limit and closed it), CAP1 Venture ONE, CAP1 Classic MC, PayPal Credit, Synchrony Google and Ashley's Furniture, and BofA Cash Rewards ($4,500). NOW, approved for BofA Travel Rewards for $13,000 with a TU of 723 and EQ of 684 and FICO in mid 700s! I'm only disappointed that I won't receive the card in mail before I leave for Sydney Australia on 7/8/17. As a side note, I haven't received the physical card yet but checked my BofA checking and Cash Rewards accounts today and saw that they have already added the new card to my online account profile. That's how I found out the credit limit granted to me!
Be careful, they will trick you
I had 22757 points. I called and asked to redeem it. The cumstomer service said I could only redeem points against travelling expenses which was $227.57. But if I wanted a check mail to me. It would only worth half of the redeem value which was $113.-. So I told him, in that case, wait for me to charge some travel expenses on this card then I would redeem the full value of the points. Few months went by, somehow, BOA mail me a $113 check. I mistakenly depoisit it. Thinking it was from my other credit card company. So after I charged $256 travel expense on this card, I called to redeem the points.They told me I don't have any points left because I deposit the check already. This is what I think, they mailed me a 50% off value check to trick me and I took the bait. Now I lost $113 and they saved $113. Any one else have the same experience, please speak out. Because when I talk to them. They said, the cumstomer rep. just made a mistake to request a check for me. But since I deposit it already, so it was my fault, too.They were not suprised at all. It must happened to many card holders already. It is their business practice. I wish a class action lawsuit lawyer will look into it and sue them.
Have to wait for the card in the mail
When I applied I had around 720 score. They did not approve immediately. They took a day and approved with a CL of 1200. When I asked the customer care why they made me wait, the lady said they were looking at my credit to decide how much CL to give me. It's a decent card for medium expenditure customers, who don't spend 3K to 4K in three months so cannot utilize the offiers provided by other cards like Chase Sapphire.
Difficult to enjoy.
While it's nice that you can use the points on any travel purchase, it's not easy. For example, 30,000 points equals $300 in benefits. Divide however many points you have by 100 and you see how much you have to use. With $1 = 1 point, I don't know many that spend $30,000. And many tickets are much more than $300.
Good, dependable every-day Card
This card gives you, essentially, 1.5% on all purchases. People are often deterred because they don't think they have a lot of travel purchases to be refunded, but you'd be surprised! Having dinner in a hotel counts, parking counts, loading up your T-pass counts, Uber charges count, hotels, bookings, etc. There is a lot you can to to get 1.5% of all purchases applied retroactively to your travel purchasse. My one advice: DO NOT CASH IN YOUR POINTS FOR CASH BACK OR GIFT CARDS. The travel refund definitely gives you the best deal (1.5%).
And all that on top of the no foreign transaction fee! :)