If you’re looking for a no-annual-fee credit card with a 0 percent intro APR intro offer on purchases, unlimited rewards potential and easy redemption options, this Bank of America card could be a great choice.
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The Bank of America content was last updated on March 1, 2023.
The Bank of America® Travel Rewards credit card is a no-annual-fee credit card that offers an unlimited 1.5 points per dollar on every purchase and gives cardholders the opportunity to redeem those rewards as statement credits for travel and dining expenses.
This gives you the kind of spending and booking flexibility that you don’t always see with travel credit cards, many of which require you to make purchases through specific loyalty programs or online portals before you can maximize your rewards.
Plus, new cardholders can earn a welcome bonus worth $250 (25,000 bonus points after spending $1,000 in the first 90 days) while taking advantage of 18 billing cycles of 0 percent intro APR on purchases and balance transfers (made within the first 60 days). After that, the regular APR will vary between 17.49 percent and 27.49 percent variable.
The Bank of America Travel Rewards card doesn’t offer quite as many perks as some of its competitors. However, cardholders who want a top travel card that doesn’t charge a hefty annual fee may be very satisfied with what it has to offer.
So, is the Bank of America Travel rewards card worth having in your wallet instead of another card? Let’s explore some scenarios when it is worth it and when it’s not.
When is the Bank of America Travel Rewards card worth it?
When you enjoy unlimited points potential
The Bank of America Travel Rewards card offers an unlimited 1.5X points on every purchase. This gives you the freedom to earn travel rewards every time you use your card, whether you’re buying groceries, shopping online, visiting your favorite restaurant or booking your next flight.
Having a flat-rate rewards card in your wallet makes it easy to maximize your credit card rewards. When every shopping trip earns the same 1.5 points per dollar, you don’t have to worry about keeping track of rotating bonus categories or using one credit card for groceries and another credit card for gas. All you have to do is use your Bank of America Travel Rewards card for your everyday spending and you’ll get the most out of every purchase you make.
New cardholders also have the opportunity to earn a welcome bonus worth $250. If you spend $1,000 in your first 90 days of card ownership, you’ll receive 25,000 bonus points that you can put toward your next trip.
Though it’s great that the card earns boosted rewards even on general travel, there is some incentive for you to book travel via the Bank of America Travel Center. You’ll earn 3X points when you use the online portal to book a flight or reserve a hotel room.
When you value flexible redemption
Want to redeem your Bank of America rewards? The possibilities are nearly unlimited. Unlike other travel credit cards that reserve their highest rewards redemption rate for cardholders who book with a specific airline or make purchases through a designated travel portal, the Bank of America Travel Rewards card offers an easy, flexible way to redeem your points — no matter where you book your travel.
After you use your card to make travel or dining purchases — including flights, hotel bookings, vacation packages, rental cars, baggage fees, restaurants and takeout — you can redeem some or all of your available points as statement credits toward those purchases (with a minimum of 2,500 points required to begin the redemption process). You won’t feel limited to a handful of redemption options because your rewards are equally valuable across most travel and dining.
When you bank with Bank of America or Merrill
The card may be even more attractive if you bank with Bank of America or have a Merrill investment account. Current Bank of America customers with a daily average balance of at least $20,000 for three months can qualify for the lowest tier (Gold) of the Preferred Rewards program. Becoming a Preferred Rewards member allows you to enjoy a variety of benefits, including a boosted rewards earning rate on your Bank of America card.
For example, if you qualify for the Gold tier, your rewards rate could go up to 1.875 points per dollar. The top tiers in Preferred Rewards can boost your rewards up to 75 percent more, potentially increasing your rewards rate to 2.625 points per dollar. That’s a higher rate than most flat-rate cards.
When is the Bank of America Travel Rewards card not worth it?
When you need additional travel perks
Though the Bank of America Travel Rewards card offers unlimited rewards potential, some frequent travelers may want a travel credit card that comes with a few more benefits and perks. Many of today’s best travel credit cards increase their value by offering additional rewards such as TSA PreCheck and Global Entry fee credits or complimentary airport lounge access. Some credit cards provide annual airline vouchers or give you the opportunity to earn free companion fares or hotel stays. Unfortunately, the Bank of America Travel card lacks these advantages, though it does have auto rental collision damage waiver and lost luggage reimbursement.
Cardholders who spend a lot of time at the airport and need lounge access or want to enjoy a complimentary breakfast each morning at the hotel should look into other travel cards. Note that the cards offering the most rewards and perks often come with the highest annual fees — and some premium credit cards, such as the Chase Sapphire Reserve card or The Platinum Card® from American Express, charge cardholders more than $500 per year for the privilege of maintaining the account.
Should you get the Bank of America Travel Rewards card?
If you want the flexibility of booking your own flights and hotels without being limited to a single travel provider or an issuer booking portal, the Bank of America Travel Rewards card could be a good choice. If you’re looking for a travel card that offers flat-rate rewards on every purchase, it’s an excellent option.
Don’t forget about the card’s other benefits, including a sign-up bonus worth $250 and an introductory 0 percent APR for 18 billing cycles on purchases and balance transfers (17.49 percent and 27.49 percent variable after the intro period).
The Bank of America Travel Rewards card is a good choice for anyone looking for a flexible, no-fuss, no-frills travel card that earns unlimited rewards. If you need a travel credit card that offers TSA PreCheck application credit, airport lounge access and other frequent flyer perks, however, you might want to consider a few other options.
Just keep in mind that the travel credit cards offering the most perks also tend to come with the highest annual fees. The Bank of America Travel Rewards card has no annual fee — an important consideration if you want to earn rewards and book travel without having to cover the cost of owning the card.
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