MoneyGeek’s Take

Bank of America® Travel Rewards credit card Review

The Bank of America® Travel Rewards credit card is a great choice for travelers looking for a card without annual or foreign transaction fees. This card is also best for those who want to earn points that don’t expire.

Advertising & Editorial DisclosureLast Updated: 11/18/2022
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Last Updated: 11/18/2022

The Bank of America® Travel Rewards credit card is best suited for individuals looking to earn unlimited points on all purchases. Although this card comes with a high APR (annual percentage rate) and limited perks, you can still benefit from it if you’re sure to make your payments on time. Additionally, you don’t have to pay an annual fee, and no foreign transaction fees make this card suitable for use outside the United States.

MoneyGeek’s Bank of America® Travel Rewards credit card review breaks down the pros and cons and evaluates the card’s different features to help determine whether it is right for your needs.

Card Details to Know Up Front
  • Bonus, Fee or Feature
    Has or Not
  • Has Annual Fee
  • Has Balance Transfer Offer
  • Has APR Offer
  • Cash Back Rewards
  • Travel Rewards
Click to see this card’s rates, fees and how they compare to other cards in our dataset.

Bank of America® Travel Rewards credit card at a Glance

Finding the best travel credit card depends on your needs. If you’re looking for a basic travel rewards card with unlimited potential to earn points and no annual fee, then the Bank of America® Travel Rewards credit card's benefits may be enough. With this card, you can earn 1.5 points on every purchase. This card is also a good option for international use because it doesn’t incur foreign transaction fees.


  • Bank of America® Travel Rewards credit card

    A no-annual-fee travel rewards card with a good spend-based welcome bonus offer


    • Good-ExcellentCredit Needed
    • $0Annual Fee
    • 1.5 PointsRewards Rate

Pros & Cons Explained

Although the Bank of America® Travel Rewards credit card has attractive benefits, it’s also important to know its limitations. MoneyGeek lists the pros and cons of this Bank of America travel rewards card to help you stay informed.

Pros

  • Benefits
    Description
  • No Annual Fee
    Cardholders do not pay annual fees for the life of the card.
  • No Foreign Transaction Fees
    You can make purchases outside the U.S. without worrying about foreign transaction fees.
  • Unlimited Potential to Earn Points
    You can earn 1.5 points for every purchase with this card. This applies to groceries, gas, dining, entertainment, TV services, phone services, internet services, online shopping, hotels, car rentals, air travel and more.

Cons

  • Drawbacks
    Description
  • Limited Perks
    Compared to other travel credit cards, the Bank of America® Travel Rewards credit card has fewer bonus rewards and features. There are also no premium benefits, such as lounge access or free checked bags.
  • High APR
    Although there is a 0% introductory APR for the first 18 billing cycles, the normal variable APR is 16.99% –26.99%.
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LOOKING FOR THE BEST CREDIT CARDS OF 2022?

Despite the unlimited potential to earn points, the Bank of America® Travel Rewards credit card review may not be the best option for everyone. Check out MoneyGeek’s selection of best rewards credit cards for 2022 for other ideas.

Bonuses & Rewards Explained

Using the Bank of America® Travel Rewards credit card lets you earn 1.5 points per purchase. These points do not expire for the life of the card. There are also bonus rewards available for new cardholders who spend $1,000 or more within the first 90 days of opening an account, as well as other bonuses that may be presented per special advertised promotions.

1

Earn Points

Cardholders earn 1.5 points on every purchase, including but not limited to groceries, gas, dining, entertainment, TV services, phone services, internet services, online shopping, hotels and air travel. The points do not expire.

2

Welcome Bonus

New cardholders get 25,000 online bonus points if they spend at least $1,000 within 90 days after opening the account. The bonus points can be redeemed for a $250 statement credit toward travel or dining purchases.

3

Introductory APR

New cardholders can enjoy a 0% introductory APR for the first 18 billing cycles. A variable APR applies thereafter.

4

Statement Credit

Points can be redeemed in the form of a statement credit which the cardholder can use to offset qualifying travel and dining purchases.

5

Preferred Rewards Program

Individuals who enroll in the Preferred Rewards program can earn 25%–75% more points. Membership is free. However, you need to have an active, eligible checking account and meet specific balance requirements.

Other Features Explained

Understanding the different features of a credit card can help you compare options and find the best one for your needs. Besides the Bank of America® Travel Rewards credit card benefits, there are other features and security protections you may be interested in.

  • Card Feature
    Description
  • $0 Liability Guarantee
    Cardholders automatically have this coverage, which protects against fraudulent transactions. The bank also blocks possible fraudulent activities if they detect abnormal use patterns.
  • Contactless Chip
    You can pay at locations with the contactless symbol by simply tapping your card.
  • Overdraft Protection
    You can link an eligible checking account to your credit card to prevent declined purchases. Fees may apply.
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MONEYGEEK QUICK TIP

Because the card comes with a high interest rate, ensuring that you make payments on time can help you enjoy the card’s earning potential without compromising your financial health.

Understanding the Fine Print

Before starting a Bank of America® Travel Rewards credit card application, it’s important to understand all the card’s features, interest rates and fees. MoneyGeek lists these details below.

  • Card Feature
    Amount or Rate
  • APR
    13.99% - 23.99%
  • Annual Fee
    $0
  • Cash Back Rewards
  • Rewards Rate
    1.5 Points
  • Airline Benefits
  • This is an icon

    Regular APR

    APRs are based on your creditworthiness when you open the account and often change based on the prime rate. There’s an introductory APR of 0% for purchases made in the first 15 months of being a Bank of America® Travel Rewards credit cardholder. After that, the bank charges a variable APR of 16.99% –26.99%. The same APR applies to balance transfers. For direct deposit and check cash advances, the APR is 19.99% - 29.99%. The rate for bank cash advances is 29.99%. These rates are relatively high.

  • This is an icon

    Transaction Fees

    There are no annual or foreign transaction fees. However, there are fees for other transactions. For balance transfers, direct deposit and check cash advances, you either pay $10 or 3% of the amount, whichever is greater. If you take a cash advance through an ATM, same-day online or over-the-counter, you will either pay $10 or 5%, whichever is greater. Late payments will result in a penalty fee of up to $40.

  • This is an icon

    Points Rewards Rate

    For every purchase you make using the Bank of America® Travel Rewards credit card, you can earn 1.5 points.

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WHERE TO FIND THIS INFORMATION?

When selecting a new credit card, it’s important to compare features, fees and rates. If you already have a card, you can find this information on your latest billing statement, online account or mobile app. For cards you’re considering, credit card issuers typically share the terms and conditions for their products on their websites. The credit card agreement database maintained by the Consumer Financial Protection Bureau can also help you learn more about each card.

Who Should & Shouldn’t Consider Bank of America® Travel Rewards credit card?

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Other Considerations for Bank of America® Travel Rewards credit card

When choosing a credit card, it’s imperative to consider how you plan on using it. Here’s what to keep in mind based on whether the Bank of America® Travel Rewards credit card will be your first and only card versus an additional card in your wallet.

Things to Consider if This Will Be Your First or Only Credit Card

If the Bank of America® Travel Rewards credit card will be your first and only credit card, keep in mind the high APR when using it. Although you earn points on every purchase, the high APR can lead to huge interest expenses if you fail to pay your balance in full every billing cycle. That said, this card might work well for you if you plan on paying your monthly dues in full.

Things to Consider if This Will Be an Additional Card in Your Wallet

The Bank of America® Travel Rewards credit card doesn’t have international transaction fees, which can make it a good additional card to use when traveling abroad. You can also maximize the earning potential of this card by using it for your purchases without worrying about high annual fees. Check the features and rewards of your other credit cards to see if it makes sense to shift certain spending categories to this card.

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WHY TRUST OUR REVIEWS:

For this Bank of America® Travel Rewards credit card review, MoneyGeek used a well-defined methodology where we collected information from the Consumer Finance Protection Bureau’s database. For easy comparison, we used standardized data points that include fees, rewards, bonuses and estimated average spending profiles.

How Bank of America® Travel Rewards credit card Compares to Other Cards

Comparing multiple credit cards can help you find the best card for your travels. For a straightforward card that earns points without additional fees, the Bank of America® Travel Rewards credit card can be a good option. However, other credit cards may offer more benefits and features.

Quick Comparison of Bank of America® Travel Rewards credit card

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Bank of America® Travel Rewards credit card

  • Annual fee: $0
  • APR for purchases: 16.99% –26.99%
  • Foreign transaction fee: $0
  • Redemption options: Redeem your points as a statement credit to offset travel and dining purchases
  • Best for: Travelers looking for a basic rewards card with no annual or foreign transaction fees
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Capital One VentureOne Rewards Credit Card

  • Annual fee: $0
  • APR for purchases: 17.99% – 27.99%
  • Foreign transaction fee: $0
  • Redemption options: Redeem miles as a statement credit for travel purchases, buying gift cards, shopping online at Amazon or transferring to partner airlines or hotels
  • Best for: Travelers looking for miles rewards card with no annual or foreign transaction fees

Other Helpful Decision-Making Q&As

MoneyGeek answers some of the most commonly asked questions to help you learn more about the Bank of America® Travel Rewards credit card.

Still not sure about this card? Consider these options.

If you’re still not sure whether the Bank of America® Travel Rewards credit card is right for you, consider checking out other travel rewards credit cards. If you’re not interested in a travel rewards card, consider a business credit card or a balance transfer card instead.

Learn more about credit cards in general

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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.