The Bank of America® Travel Rewards Credit Card is a top pick for avid travelers and students venturing overseas. Its lack of annual and foreign transaction fees, coupled with a tempting welcome offer, sets the stage for impressive travel savings. Flexibility is paramount with this card, allowing users to book trips on their terms without the constraints of using specific platforms or blackout dates. Targeting individuals with robust credit profiles, its reward scheme, especially for Preferred Members, truly enhances its allure. Moreover, its fusion of advanced security features with the convenience of contactless payments makes it an indispensable modern spending tool.
MoneyGeek’s Take
Bank of America® Travel Rewards Credit Card for Students Review
Updated: June 13, 2024
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Bank of America® Travel Rewards Credit Card for Students
Rewards Rate
Earn 1.5 points per dollar on every purchase.APR
18.24% – 28.24% VariableAnnual Fee
$0Recommended Credit
(No Credit History)Bank of America® Travel Rewards Credit Card for Students Overview
When choosing a credit card, it's essential to critically evaluate its features, as they play a pivotal role in determining the card's overall value and suitability for individual financial needs.
- Rewards rate - Earn 1.5 points for every $1 spent on purchase.
- Welcome offer - Earn 25,000 bonus points after spending $1,000 within the first 90 days
- Regular APR - 18.24% - 28.24% Variable
- Annual fee - $0
- Foreign transaction fee - None
Important Card Details
Navigating the complex world of credit cards can be daunting, especially for students on the cusp of financial independence. In our detailed analysis below, we dissect the Bank of America® Travel Rewards Credit Card for Students, highlighting its multifaceted features that range from rewarding incentives to crucial financial nuances every student should be aware of.
Rewards
The Bank of America® Travel Rewards Credit Card for Students offers a straightforward reward system. For every dollar you spend, you earn 1.5 points. What sets this apart is that these points never expire, allowing you to redeem them when you're ready. Even if your travels are sporadic due to academic schedules, your earned points will be waiting for you when it's time for that well-deserved break.
Welcome Offer
A welcome offer can be a game-changer when choosing a credit card, and this card doesn't disappoint. Imagine spending just $1,000 in your first three months and being rewarded with 25,000 bonus points. To give this context, that's a whopping $250 credit for travel. For many students, this can be a significant incentive, making that dream trip or visit home a little more affordable. Welcome offers like these can be a valuable kickstart to your credit card journey.
Fees
Hidden fees can quickly dampen the appeal of many credit cards. However, the Bank of America® Travel Rewards Credit Card for Students shines brightly here. With no annual or foreign transaction fees, this card stands out as a financially smart choice, especially for students who travel often. Whether you're studying abroad, on a spring break or just ordering a book from an international site, the absence of foreign transaction fees means your adventures won't come with unwelcome financial surprises.
0% Intro APR
Cash flow can be tight for students, and understanding the intricacies of APR is crucial. Starting with a 0% introductory APR for the initial 15 billing cycles offers students breathing room, especially if there are large upfront expenses like textbooks or settling into a new apartment. However, it's vital to have a repayment plan. After the grace period, the APR jumps to a variable range of 18.24% to 28.24%. Also, while balance transfers might seem attractive, remember there's a 3% fee, which can add up. Being informed and planning ahead can make this feature work in your favor.
How the Bank of America® Travel Rewards Credit Card for Students Compares
To find the right financial tool, let's compare two credit cards to discern which aligns best with your spending habits and needs.
How This Card Compares
Bank of America® Travel Rewards Credit Card for Students
- Rewards rate - Earn 1.5 points for every $1 spent on purchase.
- Welcome offer - Earn 25,000 bonus points after spending $1,000 within the first 90 days
- Regular APR - 18.24% - 28.24% variable
- Annual fee - $0
- Foreign transaction fee - None
- Best for: Students seeking travel rewards without the burden of annual or foreign transaction fees and those looking to leverage a generous welcome offer to kickstart their travel savings.
Discover it® Student Cash Back
- Rewards rate - Earn 5% cash back on each quarter’s activated rotating categories (on up to $1,500 in combined purchases, then 1%) and 1% on all other purchases
- Welcome offer - Discover will match all cash back earned at the end of your first year with the card.
- Regular APR - 18.24% - 27.24% Variable
- Annual fee - $0
- Foreign transaction fee - None
- Best for: Students wanting dynamic cash back from rotating categories and a unique first-year earnings match.
About Grace Pilling
Grace Pilling was the Senior Content Manager for Credit Cards at MoneyGeek. She previously led personal finance teams at Bankrate, CreditCards.com and MoneyUnder30.
Pilling has a bachelor's degree in English from Western Sydney University and a diploma in book editing, proofreading and publishing. She is focused on empowering readers to make informed financial choices that support their best lives, not a company’s bottom line.
*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. 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.
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.