Bank of America® Travel Rewards credit card review

Bank of America® Travel Rewards credit card review

Updated: February 7, 2024

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Updated: February 7, 2024

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Ratings Policy
Rewards Rating:
4.1 rating
4.1 rating
4.1 / 5
Rewards Value:1.4
Annual Percentage Rate:4.0
Rewards Flexibility:5.0
Features:3.0
Issuer Customer Experience:5.0

In a Nutshell:

 You can travel anytime you want with this flexible travel card: The Bank of America Travel Rewards credit card sets itself apart from other travel cards by doing away with restrictive travel policies and letting you book your rewards-funded travel yourself.

Learn more about this card

Rewards Rate
1.5 points per dollar on every purchase

Average

Sign-up Bonus
25,000 online bonus points after spending $1,000 in first 90 days

Average

Annual Bonus
None

Poor

Annual Fee
$0

Excellent

APR
18.24% - 28.24% Variable APR on purchases and balance transfers

Average

Rewards Redemption
Pros

  • Points don’t expire as long as your account remains open
  • No blackout dates
  • No limits on how many points you can earn
  • Redeem points for any travel or dining purchase
  • Redeem for a statement credit up to 12 months after making a travel or dining purchase

Cons

  • Cash redemption is only 0.6 cents per point
Excellent

Bank of America Customer Service Ratings

  • J. D. Power 2020 customer satisfaction rating: 812 (20% of issuers in this category ranked higher)
  • 24/7 customer service?: Yes
  • Online chat available?: Yes
  • Google Play Store mobile app rating: 4.8/5
  • Apple Store mobile app rating: 4.7/5
Fair

Other Notable Features: No foreign transaction fees, Visa Signature benefits, EMV chip card with the ability to add a PIN for international travel, auto rental collision damage waiver, roadside dispatch, lost luggage reimbursement, concierge services

The Bank of America® Travel Rewards credit card is a great choice for occasional travelers who like to search the web for the best deals without sacrificing their option to use rewards for the purchase. It’s an incredibly flexible card when it comes to redemption options and earning capacity, however, it lacks many of the appealing benefits offered by other popular travel credit cards. That said, there are some limitations compared to cards with a potentially higher rewards value.

The Bank of America Travel Rewards credit card offers a solid rewards program, especially if you already have Merrill or Bank of America® accounts. The Bank of America Preferred Rewards® program offers even more rewards on top of what you would earn with its flat-rate 1.5-point rewards structure. For those who don’t mind having a more complicated rewards structure in return for more travel benefits, rewards and cardholder perks, you may do better with other comparable travel rewards cards.

Pros

  • No annual fee: Most travel rewards cards require you to pay an annual fee in exchange for premium travel perks, so having a $0 annual fee is unique.
  • No foreign transaction fee: Foreign transaction fees can make the overall cost of your purchases go up tremendously. Fortunately, when going abroad, travelers do not have to worry about these pesky charges when using this card.
  • Decent sign-up bonus: After spending $1,000 in purchases within the first 90 days after account opening, new cardholders can get 25,000 online bonus points, which is an excellent offering on top of the card’s ongoing rewards rate.
  • Uncapped reward earnings: Since there is no limit to the number of points you can earn, you can easily maximize your reward earnings.
  • Special perks for Bank of America customers: The Preferred Rewards program allows certain Bank of America® credit card holders to earn extra bonus rewards. If you have enough money in combined balances in your Bank of American and Merrill accounts, you can earn 25%-75% more rewards.

Cons

  • Requires good or excellent credit: Potential applicants may be denied if they do not fulfill the credit score requirement, which could prevent many people from applying.
  • Potentially high APR: Depending on your creditworthiness, you could be subjected to an APR that you may not be comfortable with.
  • No bonus categories: The card only offers flat-rate rewards, which may not be enough for people looking for tiered categories to boost their reward earnings.

Why you might want the Bank of America Travel Rewards Card

If you’re the type of cardholder always looking around for a good sign-up bonus on a card with no annual fee, then Bank of America’s travel card is a great option for you. You’ll earn a flat rate of rewards on all your purchases, giving you the freedom to shop for what you want, when you want to and still earn a decent rate.

One unique benefit of this card is that if you happen to have a Merrill or a Bank of America account you can earn a boosted rewards rate with Preferred Rewards.

Higher sign-up bonus

Though not the most valuable sign-up offer currently available, the Bank of America Travel Rewards credit card does include a decent bonus of 25,000 online points for users who spend $1,000 in the first 90 days. If you redeem these points for travel purchases, they are worth up to $250.

Flat-rate rewards on all purchases

The Bank of America Travel Rewards credit card comes with one flat earning rate on all purchases – making it easy to rack up points without keeping track of bonus categories or focusing your spending in one area. Cardholders bring in 1.5 points per dollar on every purchase. The one exception to this is purchases made in the Bank of America Travel Center, which earn an additional 1.5 points per dollar for a total of 3 points per dollar spent.

Bank of America Preferred Rewards program

If you are already a Bank of America or Merrill checking or savings account holder, you might be able to boost your earning rate on the Bank of America Travel Rewards credit card. This is certainly the case if you have a significant balance. Bank of America has a tiered rewards rate program that increases at incremental stages depending on how large your account balance is in your Bank of America or Merrill account. You can potentially qualify for a 75% point boost with an increased earned rate of 2.6% (up from the standard 1.5% per dollar spent) by qualifying for Platinum Honors – Bank of America’s highest Preferred Rewards tier.

Bank of America Preferred Rewards tiers and earning rates

TierBalance requiredPoints boostEarning rate
Gold customers$20,000-$49,99925%1.9%
Platinum customers$50,000-$99,99950%2.3%
Platinum Honors customers$100,000+75%2.6%

As you can see, even if you don’t have a balance over $100,000 in your Bank of America or Merrill account you can still earn either a 25% or 50% boost to your rewards rate.

When combined with some of the other benefits of this card, even a 1.9% earning rate makes this card stand out despite the fact some flat-rate rewards cards have a slightly higher rate.

Flexible point redemption

Points earned with the Bank of America Travel Rewards credit card are worth the same amount whether you book travel with the bank or another site – unlike other travel cards that offer a boost on certain purchases. However, this gives the card some added flexibility and means you can think less critically about how you want to use those points.

You can redeem points for any travel purchase made on your card in the last 12 months. That means you can find a better deal on a third-party travel site and still use your rewards to cover the cost. You may also redeem points for a statement credit to pay for dining purchases, a cash redemption or gift card.

Bank of America Travel Rewards redemption options

Redemption optionMinimum points needed to redeemPoint value (cents)
Travel (booked through Bank of America Travel Center)2,5001
Dining or Travel (booked through qualifying outside merchants)2,5001
Cash rewards2,5000.6
Gift card3,125varies

Solid intro APR for new purchases and balance transfers

In addition to easy-to-earn rewards and flexible redemption, the Bank of America Travel Rewards credit card offers a 0% introductory APR for 15 billing cycles for new purchases (18.24% to 28.24% variable thereafter) and for balance transfers made within the first 60 days (after which, the 18.24% to 28.24% variable APR applies). There is a 3% intro balance transfer fee for 60 days from account opening, then 4%.

Very few travel cards offer an intro APR on both balance transfers and new purchases, so this card could be an ideal pick if you need to pay off debt or chip away at the cost of a new purchase in the short term, but want to focus on earning travel rewards long term.

This can be a great perk for users who have a big purchase to make and want to pay it down over time without racking up interest. You’ll have a little more than a full year to make slow payments without having to worry about additional charges. Just be sure not to charge more than you can pay off in the introductory period, as the ongoing APR can be high.

Why you might want a different travel rewards card

If you’re familiar with rewards programs, know which categories you spend your money the most and can plan accordingly to use different cards for every purchase, you might want to opt for a more elaborate card strategy that takes advantage of higher earning cards. A rate of 1.5 points per dollar spent is a decent rate, but it’s by no means the best offer out there.

That said, there are a few shortcomings the Bank of America Travel Rewards card has that makes it fall a little further down the list of best travel rewards cards.

No bonus for travel redemption

Redemption through an issuer’s travel portal is a competitive feature on a travel rewards card that comes with some other cards in this category. Unfortunately, points redeemed for travel through the Bank of America Travel center won’t see an increase in value like on some other issuer’s cards. This puts Bank of America’s card a little further down the list.

Although purchases made through the travel center will earn double points, redeeming those points for travel won’t increase their value. Meaning you’ll need to spend more to increase the worthiness of your rewards, while with another card it might mean spending less and redeeming for more.

For example, points earned with the Chase Sapphire Preferred Card earn an additional 25% value when redeemed through the Chase Ultimate Rewards Portal, making points (normally worth 1 cent each) worth 1.25 cents each.

The most value you can get out of a Bank of America Travel Rewards credit card point is 1 cent per point, other travel cards can often outpace its value. When comparing to another card, be sure to keep point value in mind because, like Chase, some issuers have increased point value.

Here is a quick look at some of our most popular travel cards and the rewards value you get out of each dollar you spend (factoring in average earning rate and point value).

Low rewards rate

While earning 1.5 points per dollar on every purchase is convenient and it can be boosted if you’re a Bank of America or Merrill account holder, for a general cardholder who’s looking for a solid travel rewards card, it’s a little low. Even the 3 points per dollar on travel booked through Bank of America’s Travel Center is comparatively low to other cards, especially considering the points’ low value for redemption.

If you want to step into travel rewards and fly higher, you might benefit from a card that earns at a higher rate on general purchases and pair it with a card from the same issuer that earns a high rate for travel. This may allow you to pool your points and redeem them through that issuer’s rewards portal.

For instance, you might be better served with a 2% cash back card like the Citi Double Cash® Card (1% when you buy, 1% when you pay) paired with the Citi Premier® Card. While the Premier Card has an annual fee of $95, depending on how much you spend you may be able to offset that fee by earning more rewards than you would with the Bank of America Travel Rewards card.

No standout perks

The Bank of America Travel Rewards credit card has a few benefits that make it valuable for frequent travelers, but it doesn’t have many extensive perks.

  • No foreign transaction fee – When traveling abroad, you won’t pay any surcharge on foreign transactions.
  • Car rental insurance – If your rental car is damaged or stolen, the Bank of America Travel Rewards credit card can reimburse you in excess of the company’s insurance policy.
  • Add PIN for international travel – The Bank of America Travel Rewards credit card is an EMV chip card, and you can add a PIN for easy use when traveling overseas.

While certainly not the most impressive travel perks available on a rewards card, all these benefits could potentially save frequent travelers some money on their next trip — but in comparison to other travel rewards cards, you could get a much better lineup of perks than with this card.

How does the Bank of America Travel Rewards card compare to other cards?

The flat earning rate on the Bank of America Travel Rewards credit card makes it easy to rack up points with this no-annual-fee option, but savvy spenders might be able to get more out of a travel card with a different structure. Here are a few popular alternatives:

Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card
Capital One VentureOne Rewards Credit Card
Capital One VentureOne Rewards Credit Card
Wells Fargo Autograph℠ Card
Wells Fargo Autograph℠ Card
Rewards rate

  • 5 points per dollar on travel purchased through the Chase portal
  • 3 points per dollar on dining
  • 2 points per dollar on other travel
  • 1 point per dollar on general purchases
Rewards rate

  • 1.25 miles per dollar on every purchase, every day
Rewards rate

  • 3 points per dollar on travel, transit, gas station purchases, restaurants, select streaming services and phone plans
  • 1 point per dollar on other purchases
Sign-up bonus

60,000 points if you spend $4,000 in first 3 months

Sign-up bonus

20,000 miles if you spend $500 in first 3 months

Welcome bonus

Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months – that’s a $200 cash redemption value.

Annual fee

$95

Annual fee

$0

Annual fee

$0

Other things to know

  • 25% higher point value when redeemed for travel through Chase Ultimate Rewards
  • Transfer points to travel partners at 1:1 rate
  • Primary car rental insurance
Other things to know

  • 0% intro APR on purchases and balance transfers for first 15 months; 19.99%-29.99% variable APR thereafter
  • No foreign transaction fee
  • Transfer miles to over 15+ travel partners
Other things to know

  • Redeem points for cash back, statement credit or travel via your Wells Fargo account at a 1:1 rate
  • Up to $600 cell phone coverage benefit against damage or theft (subject to a $25 deductible)

Bank of America Travel Rewards vs. Chase Sapphire Preferred

A fan-favorite travel card, the Chase Sapphire Preferred offers a good rewards rate and a valuable sign-up bonus. If you redeem all 60,000 points (after spending $4,000 in the first three months to earn the bonus) for travel in the Ultimate Rewards portal, they are worth up to $750. The biggest drawback to the Sapphire Preferred in comparison to the Bank of America Travel Rewards Card is its $95 annual fee, though heavy spenders can probably offset this cost with a great earning rate on travel and restaurant purchases.

See Related: Bank of America Travel Rewards vs. Chase Sapphire Preferred: Which is best for you?

Bank of America Travel Rewards vs. Capital One VentureOne

Like the Bank of America Travel Rewards credit card, the Capital One VentureOne doesn’t charge an annual fee and offers a flat rate of miles on most purchases – 1.25 miles per dollar. The Capital One VentureOne also charges no foreign transaction fee. However, the VentureOne also comes with a higher low-end and high-end APR rate (19.99% to 29.99% variable) than the Bank of America Travel Rewards Card does. Miles with the VentureOne are also worth that same as Bank of America points at 1 cent apiece. However, with a lower earning rate, the VentureOne won’t compete well with cards that have a high point value and a high earning rate.

Bank of America Travel Rewards vs. Wells Fargo Autograph

The Wells Fargo Autograph is another popular no-annual-fee travel card, thanks to its extensive list of categories that qualify for the 3 point-per-dollar rate. Cardholders can earn 3 points per dollar on restaurants, travel, transit, gas station purchases, select streaming services and phone plans as well as 1 point per dollar on other purchases. This makes it easy to rack up plenty of points. Plus, cardholders who also have a Wells Fargo Active Cash® Card may earn even more cash rewards on purchases.

How to use the Bank of America Travel Rewards credit card:

  • Spend at least $1,000 in the first 90 days to earn the sign-up bonus.
  • Put all your purchases on the card to take advantage of a generous flat rewards rate.
  • Consider purchasing travel through the Bank of America Travel center to earn double points.
  • If you are eligible, sign up for Preferred Rewards to boost your earnings.

Is the Bank of America Travel Rewards credit card right for you?

If you are the type of cardholder who prefers to put all their purchases on one card and not worry about keeping track of bonus categories, the Bank of America Travel Rewards credit card offers a good rate of points for a card with no annual fee. Plus, Bank of America account holders with a significant balance can boost their rewards rate and fast-track their way to their next vacation.

On the other hand, if the realm of rewards earning sparks your curiosity and you want to maximize how much you get back for what you spend, you might consider a more strategic approach. That said, the Bank of America Travel Rewards card is a terrific option for newcomers to rewards or for those who aren’t confident in their ability to offset the annual fees they may face with more beneficial cards.

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*All information about Wells Fargo Propel American Express card has been collected independently by CreditCards.com and has not been reviewed by the issuer. 

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All reviews are prepared by CreditCards.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.

Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. It is not our partner’s responsibility to ensure all posts or questions are answered.

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