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Bank of America® Travel Rewards® Credit Card Review – Unlimited 1.5x Points

Bank of America® Travel Rewards® Credit Card Review – Unlimited 1.5x Points

The Bank of America® Travel Rewards® Credit Card is a popular travel rewards credit card with a simple, straightforward rewards program and some attractive perks for current Bank of America® deposit accountholders. Unlike many travel rewards cards, which limit point redemptions to purchases made with specific airlines and hotel brands, Bank of America® Travel Rewards points can be redeemed for statement credits to offset virtually any travel purchase.

Bank of America® Travel Rewards competes with a number of other general-purpose and brand-specific credit cards, including the Capital One Venture Rewards Credit CardExpedia+ from Citi, and Chase Sapphire Preferred, among others.

When you spend at least $1,000 within 90 days of opening your account, you receive 25,000 online bonus points. That’s worth $250 in statement credits for travel.

The Bank of America® Travel Rewards Credit Card earns an unlimited 1.5 points per $1 spent on every eligible purchase.

Points are always worth $0.01 apiece at redemption. They can be redeemed for statement credits to offset any travel purchase, including car rentals, airfare, vacation packages, cruises, hotel rooms, and incidentals such as baggage fees.

If you have a Bank of America® deposit account in good standing, you automatically receive a 10% points bonus on all point earnings. If you have more than $20,000 on deposit with Bank of America® and therefore qualify as a Preferred Rewards client, you get a higher bonus according to your Preferred Rewards tier: Gold ($20,000 to $50,000) earns a 25% bonus; Platinum ($50,000 to $100,000) earns a 50% bonus; and Platinum Honors ($100,000-plus) earns a 75% bonus.

This card allows you to link an existing Bank of America® deposit account to your credit card account to prevent overdrafts. If you overdraft your deposit account, your Bank of America® Travel Rewards card is charged in $100 increments – in other words, you’d be charged $200 for a $150 overdraft. Each overdraft incurs a $12 fee and then accrues interest at the maximum cash advance rate.

Bank of America® Travel Rewards has a 12-billing-cycle 0% purchase APR. There is no introductory balance transfer APR promotion.

There is no annual fee or international transaction fee. Balance transfers cost the greater of $10 or 3% of the transferred amount, while cash advances cost the greater of $10 or 5%. Late payments cost $37, while returned payments cost $27.

This card requires good to excellent credit. A few minor credit dings likely won’t disqualify you from consideration.

When it comes to travel purchases, the Bank of America® Travel Rewards® Credit Card doesn’t discriminate. At redemption time, points are worth the same whether they’re redeemed for statement credits offsetting a domestic airfare ticket, a multi-day car rental, a baggage fee, or a special vacation package – no matter how any of those items were purchased. Even if Bank of America® Travel Rewards isn’t the most generous travel rewards card around, there’s much to be said for such straightforwardness and flexibility.

The Bank of America® Travel Rewards® Credit Card is an ideal card for budget-conscious regular travelers with moderate spending needs and no strong travel brand preferences. It’s also useful for people who don’t need to book through a specific site or platform, such as Kayak. This card isn’t ideal for very frequent travelers and heavier spenders who don’t mind paying annual fees, as many competing fee-based cards offer better rewards for bigger spenders and those willing to redeem with specific travel brands.

This card’s straightforward rewards system, the strong sign-up bonus, lack of an annual fee, and attractive Bank of America® customer benefits are all big perks. Its drawbacks include a moderate earning pace for most purchases, lack of a balance transfer promotion, and a penalty APR. Overall, it’s a great general-purpose travel rewards card for those averse to annual fees and choosing specific travel brands.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Categories: Bank of America, Credit and Debt, Credit Cards, Reviews, Travel

Brian Martucci writes about frugal living, entrepreneurship, and innovative ideas. When he’s not interviewing small business owners or investigating time- and money-saving strategies for Money Crashers readers, he’s probably out exploring a new trail or sampling a novel cuisine. Find him on Twitter @Brian_Martucci.

Comments Disclosure: The below responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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Bank of America® Travel Rewards® Credit Card Review – Unlimited 1.5x Points

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