The Bank of America® Travel Rewards credit card is a no annual fee card that earns 1.5x points on all purchases and an intro APR offer on purchases and balance transfers.
This credit card review will cover everything you need to know about this card to determine if you should add this card or a different card to your wallet. Let's dive right in.
- Earn a 25,000 online bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening.
- 1.5X Points on All Purchases
- 25% to 75% More Points for Preferred Rewards Members
- 0% Intro APR for your first 18 billing cycles for purchases. After that, 17.49% to 27.49%.
- No Annual Fee
Welcome Bonus
The Travel Rewards Card currently offers the following welcome bonus:
Earn a 25,000 online bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening.Earning Points
The Travel Rewards Card earns 1.5 points per dollar on all purchases everywhere, every time.
Extra Points with Preferred Rewards
You can boost your rewards if you are a member of the Preferred Rewards program, allowing you to earn 25% to 75% more rewards on every purchase based on the amount of money in Bank of America banking and/or Merrill Investment accounts.
Gold ($20,000 to $49,999) = 25% rewards boost.
Platinum ($50,000 to $99,999) = 50% rewards boost.
Platinum Honors ($100,000+) = 75% rewards boost.
No Annual Fee
One of the best aspects of the Travel Rewards Card is that it has no annual fee.
Travel Rewards Card Benefits
The Travel Rewards Card doesn’t offer a lot of benefits, but here are a few:
No Foreign Transaction Fees: You'll save money on every purchase while traveling internationally since this card doesn't add the typical 3% surcharge that many other cards impose.
Secondary Rental Car Insurance: This card provides backup protection for rental car damage or theft when you charge the full rental to your card. Roadside Dispatch: Get access to 24/7 emergency roadside assistance for situations like dead batteries, flat tires, fuel delivery, and mechanical breakdowns. While you'll need to pay for the actual service provided, having access to reliable help when stranded can be invaluable.Redeeming Rewards
Redeeming Bank of America rewards is a hassle-free process. Plus, your rewards won’t expire as long as your account remains open.
Here are the redemption options you’ll have:
- Travel redemptions such as flights, car rentals, or hotels. You can pay for all or part of your trip with points.
- A statement credit of any amount.
- Direct deposit into an eligible Bank of America or Merrill account.
- A check with a minimum redemption of $25.
- Contribution to a Merrill 529 account with a minimum redemption of $25.
- Gift cards from partner retailers and restaurants.
Pros and Cons
Here are the advantages and disadvantages of this card:Pros:
- 1.5x points on all purchases.
- No annual fee.
Cons:
- Limited travel and purchase protections.
- No ability to transfer points to airlines or hotels.
Alternatives to Travel Rewards Card
Now that you know about this credit card’s various benefits and pros and cons, it’s time to see its alternatives.Chase Freedom Unlimited®
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- Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
- 5% Cash Back on Travel Purchased Via Chase
- 3% Cash Back at Restaurants and Drug Stores
- 1.5% Cash Back on All Other Purchases
- 0% Intro APR for 15 Months (After that, a 18.24%–27.74% APR.)
- Purchase Protection and Extended Warranty
- No Annual Fee
The Chase Freedom Unlimited® (review) sets itself apart with 1.5% back on non-bonus purchases, plus higher rewards in select categories including dining and travel. This flexible rewards card becomes even more valuable when paired with a premium Chase card, allowing you to transfer your rewards to travel partners.
Welcome Bonus: Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
Earning Cash Back: 5% back on travel purchased through Chase Travel℠; 3% back on dining at restaurants, including takeout and eligible delivery services; 3% back on drugstore purchases; 1.5% back on all other purchases
CaBenefits: Purchase protection, extended warranty, trip cancellation and interruption insurance, secondary rental car insurance, and 0% intro APR for 15 months from account opening on purchases and balance transfers, after that 18.24%–27.74% APR applies;
Bilt Mastercard®
The Bilt Mastercard® (review) lets you earn valuable travel rewards on rent payments without fees while offering bonus points on dining and travel purchases. This no-annual-fee card stands out for its unique rent payment feature and strong travel benefits like rental car coverage and trip protection.
Earning Rewards: 5x points on Lyft; 3x points on dining; 2x points on travel purchases; 1x points on rent payments without any transaction fees up to 100,000 points per year, and 1x points on everything else. (Five transactions are required per billing cycle to earn points.)
Card Benefits: No transaction fees to pay rent and earn 1x points, primary rental car insurance, cell phone protection, trip delay and trip cancellation insurance, purchase protection, and no foreign transaction fees.
Is the Bank of America Travel Rewards Card Worth It?
The Travel Rewards Card is a decent choice for a no annual fee card, but there are many better options out there that offer more benefits and perks such as the Bilt Mastercard® or the Chase Freedom Unlimited®
