The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.
- Bank of America® Travel Rewards credit card
A no-annual-fee travel rewards card with a good spend-based welcome bonus offer
- 1.5 PointsRewards Rate
- 18.24% – 28.24% VariableAPR
- $0Annual Fee
- Good–ExcellentRecommended Credit
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.
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.
Bank of America® Travel Rewards credit card Overview
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.
Quick Take
- No annual andor foreign transaction fees
- Earn 25,000 bonus points (valued at a $250 statement credit) by spending $1,000 on purchases in the first 90 days
- Earn unlimited 1.5x points per dollar on all purchases
- Preferred Rewards members get to earn 25% to 75% more points
- Redeem points as statement credit to cover payments made for flight tickets, rental cars, cruises, hotels, vacation packages or baggage fees, as well as for dining (restaurants and takeout)
- Intro 0% APR offer on purchases for the first 18 billing cycles, then a variable APR of 17.99% – 27.99% after that
- $0 liability guarantee
- Free access to your FICO Sscore
Important Card Details
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.
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 17.99% – 27.99%. The same APR applies to balance transfers. For direct deposit and check cash advances, the APR is 20.99% - 29.99%. The rate for bank cash advances is 29.99%. These rates are relatively high.
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.
Points Rewards Rate
For every purchase you make using the Bank of America® Travel Rewards credit card, you can earn 1.5 points.
Additional Benefits
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.
- $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.
- Digital Wallet: Use your credit card to make online payments. You can also do online and mobile banking.
- Account Alerts: Sign up for emails or text alerts to monitor your balance and get reminders for your due dates.
How the 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.
How the Bank of America® Travel Rewards credit card Compares
Bank of America® Travel Rewards credit card
- Annual fee: $0
- APR for purchases: 17.99% – 27.99% variable
- 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
Capital One VentureOne Rewards Credit Card
- Annual fee: $0
- APR for purchases: 19.99% – 29.99% variable
- 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
Frequently Asked Questions
sources
- Bank of America. "Bank of America® Travel Rewards credit card." Accessed April 13, 2022.
- Consumer Finance Protection Bureau. "Credit Card Agreement Database." Accessed April 13, 2022.
- J.D. Power. "2021 U.S. Credit Card Satisfaction Study." Accessed April 13, 2022.
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.
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.