The Bank of America® Travel Rewards and the Bank of America® Unlimited Cash Rewards Credit Card have no annual fee, similar APRs and 0% introductory APR on purchases and balance transfers. The BofA Travel Rewards is excellent for flexible travel point redemptions, while the BofA Unlimited Cash stands out with its high cash back rate on all purchases.
Bank of America® Travel Rewards
vs. Bank of America® Unlimited Cash Rewards Credit Card
Choose the BofA Travel Rewards for unlimited travel points or the BofA Unlimited Cash for cash back rewards.
Updated: August 8, 2024
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- Regular APR18.74% - 28.74% variable18.74% - 28.74% variable0% APR Offer0% for 15 billing cycles on purchases0% for 15 billing cycles on purchasesIntro OfferEarn 25,000 pointsEarn 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.Earn $200 cash backEarn $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.Rewards SummaryEarn 1.5 pointsEarn 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.Earn 1.5% cash backEarn unlimited 1.5% cash back on all purchases.Balance Transfer Offer0% for 15 billing cycles on balance transfers0% for 15 billing cycles on balance transfersBalance Transfer Fee3% for 60 days from account opening, then 4%3% for the first 60 days, then 4%Annual Fee$0$0Recommended Credit670–850 (good to excellent)670–850 (Good to Excellent)Penalty APRUp to 29.99% variableUp to 29.99% variableNot sure?
The BofA Travel Rewards provides 1.5 points per $1 on all purchases and a 25,000 bonus points welcome offer. In contrast, the BofA Unlimited Cash offers 1.5% cash back on every purchase and a $200 welcome bonus. Both cards have no annual fee and a 0% intro APR for 15 billing cycles, but the BofA Travel Rewards edges out with flexible points redemption and no foreign transaction fees.
Choose the BofA Travel Rewards for travel perks or the BofA Unlimited Cash for straightforward cash back.
Which Card Is Better for You?
You might prefer the BofA Travel Rewards if you travel often and want flexible rewards. It offers unlimited 1.5 points per $1 spent on all purchases, redeemable for travel or dining. Plus, there are no foreign transaction fees.
You might prefer the BofA Unlimited Cash if you want a simple rewards structure. It offers 1.5% cash back on all purchases and a $200 welcome bonus, making it great for everyday spending without tracking categories.
Head-to-Head Comparison: Card Details and Features
Evaluating APRs, fees, credit requirements, rewards and introductory offers will help you determine which card best suits your needs. The BofA Travel Rewards might be more beneficial for frequent travelers, while consistent cash back on all purchases could make the BofA Unlimited Cash more appealing.
Regular APR: Tie
The BofA Travel Rewards and the BofA Unlimited Cash have a competitive APR range of 19.24%–29.24%.
Annual Fee: Tie
The BofA Travel Rewards and the BofA Unlimited Cash have no annual fee, helping cardholders avoid extra costs.
Introductory 0% APRs: Tie
The BofA Travel Rewards and BofA Unlimited Cash offer a 0% APR on purchases and balance transfers for 15 billing cycles. They charge a 3% balance transfer fee for the first 60 days, which increases to 4% afterward.
Rewards: Tie
The BofA Travel Rewards earns 1.5 points per $1 spent, while the BofA Unlimited Cash offers 1.5% cash back.
Welcome Offers: BofA Unlimited Cash
The BofA Unlimited Cash offers $200 cash back after spending $1,000 in the first 90 days, with a higher return on investment of 254% compared to the BofA Travel Rewards.
Recommended Credit Score: Tie
Both cards require a good to excellent credit score of 670–850.
Penalties and Fees: BofA Travel Rewards
The BofA Travel Rewards has no foreign transaction fees, while the BofA Unlimited Cash charges 3% on international transactions. Both cards have late fees of up to $40 and a penalty APR of up to 29.99%.
Issuer Satisfaction: Tie
Since Bank of America issues both cards, they have the same issuer satisfaction rating of 4.5.
Other Features and Perks: Tie
Both cards provide up to 75% more points or cash back with Preferred Rewards® membership and free FICO® Score access.
Rewards Comparison
The BofA Travel Rewards card provides 1.5 points per dollar on all purchases, while the BofA Unlimited Cash card offers a straightforward 1.5% cash back.
See the table below for a quick comparison of these cards' rewards.
Category | BofA Travel Rewards | BofA Unlimited Cash |
---|---|---|
All Purchases | 1.5 points per $1 | 1.5% cash back |
Redeeming Rewards
With the BofA Travel Rewards, you can use points for travel or dining, and they never expire as long as your account is active. The BofA Unlimited Cash allows straightforward cash back, including direct deposits and statement credits, with no expiration as long as the account remains in good standing.
Methodology
MoneyGeek uses a tailored scoring system to evaluate credit cards for different needs, such as balance transfers and cash back. Key factors include introductory APR offers, regular APRs and effective reward rates.
For more details on our scoring process, check out our ranking methodology.
FAQ: BofA Travel Rewards vs. BofA Unlimited Cash Card
The BofA Travel Rewards earns points for travel, while the BofA Unlimited Cash earns cash back.
Both are cards with no annual fee.
The BofA Travel Rewards has no foreign transaction fee.
The BofA Unlimited Cash offers $200 cash back after spending $1,000 in the first 90 days.
Both cards have a 0% introductory APR offer on purchases and balance transfers for 15 billing cycles.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
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