The Bank of America® Travel Rewards credit card offers a straightforward way to earn travel rewards with no annual fee. But is this no-frills travel card worth adding to your wallet? The answer depends on your travel habits, spending patterns, and banking relationships.
What the Bank of America Travel Rewards Card Offers
The Bank of America® Travel Rewards credit card is a simple travel rewards card with the following key features:
No Annual Fee: You won’t have to pay an annual fee to hold this card.
Earn 1.5x Points on Purchases: You’ll earn an unlimited 1.5 points per $1 spent on all purchases.
Bonus for Bank of America Preferred Rewards Members: If you’re a Bank of America Preferred Rewards member, you can earn 25% to 75% more points on every purchase, boosting your earning rate to 1.875x to 2.625x points per $1 spent.
Welcome Bonus: New cardholders can earn 25,000 online bonus points after spending $1,000 in purchases within the first 90 days of account opening. This bonus is worth $250 in travel redemptions.
Flexible Travel Redemptions: Points can be redeemed for a statement credit to cover a wide range of travel purchases, including flights, hotels, cruises, rental cars, baggage fees, and even certain experiences like amusement parks and zoos.
0% Intro APR: The card offers a 0% introductory APR on purchases and balance transfers for 15 billing cycles.
No Foreign Transaction Fees: You won’t be charged extra fees when making purchases abroad.
Visa Signature Benefits: With a Visa Signature card, you’ll enjoy perks like concierge services and access to the Visa Signature Hotel Collection.
READ ALSO: Hidden benefits of the Bank of America Travel Rewards card
When Is the Bank of America Travel Rewards Card Worth It?
The Bank of America® Travel Rewards card can be a good choice in several situations:
For Occasional Travelers
If you travel a few times a year but don’t want to pay an annual fee, the Bank of America Travel Rewards card offers a simple way to earn rewards on your travel purchases. Since the points can be redeemed for a statement credit against a wide range of travel expenses, you don’t have to worry about blackout dates or restrictions.
For Bank of America Preferred Rewards Members
If you already have a Bank of America Preferred Rewards membership, the Bank of America Travel Rewards card becomes significantly more valuable. Depending on your tier, you can earn 25% to 75% more points on every purchase, effectively boosting your earning rate to up to 2.625x points per $1 spent.
For example, if you spent $20,000 on the card in a year and were a Platinum Honors member (75% bonus), you’d earn 52,500 points, worth $525 in travel redemptions. That’s a solid return on your spending without paying an annual fee.
For Those Looking for an Intro APR
Travel rewards cards rarely offer an introductory 0% APR period, but the Bank of America Travel Rewards card does. If you need to finance a large purchase or transfer a balance from another card, the 0% intro APR on purchases and balance transfers for 15 billing cycles can provide some breathing room to pay off your balance interest-free.
For International Travelers
Since the Bank of America Travel Rewards card doesn’t charge foreign transaction fees, it’s a good option for international travel. You can use it abroad without incurring extra fees on your purchases.
When Is the Bank of America Travel Rewards Card Not Worth It?
While the Bank of America Travel Rewards card can be a good choice in certain situations, it may not be the best option in others:
For Frequent Travelers
If you travel frequently or take several international trips per year, you may be better off with a premium travel rewards card that offers more perks and benefits. Cards like the Chase Sapphire Reserve® or The Platinum Card® from American Express provide more valuable rewards, travel credits, lounge access, and other benefits that can offset their higher annual fees for frequent travelers.
For Maximizing Rewards on Specific Spending Categories
The Bank of America Travel Rewards card earns a flat 1.5x points per $1 spent on all purchases, with no bonus categories. If you spend heavily in specific categories like dining, gas, or groceries, you may be better off with a card that offers higher earning rates in those categories, like the American Express® Gold Card or the Citi Premier® Card.
For Those Who Value Transferable Points
The Bank of America Travel Rewards card doesn’t offer the ability to transfer points to airline or hotel partners. Suppose you prefer the flexibility of transferring points to maximize their value for specific travel redemptions. In that case, you may be better served by a card like the Chase Sapphire Preferred® Card or the American Express Membership Rewards program.
Alternatives to the Bank of America Travel Rewards Card
If the Bank of America Travel Rewards card doesn’t quite meet your needs, here are some alternative travel rewards cards to consider:
Capital One Venture Rewards Credit Card
The Capital One Venture Rewards Credit Card earns 2 miles per $1 spent on all purchases, with no foreign transaction fees and a $95 annual fee. Miles can be redeemed for statement credits against travel purchases at a rate of 1 cent per mile, or transferred to Capital One’s airline partners for potentially higher value.
Chase Sapphire Preferred® Card
The Chase Sapphire Preferred® Card earns 2x points on travel and dining purchases, and 1x point on everything else. Points can be redeemed for travel through Chase at a rate of 1.25 cents per point, or transferred to Chase’s airline and hotel partners for potentially higher value. The annual fee is $95.
Wells Fargo Autograph℠ Card
The Wells Fargo Autograph℠ Card earns 3x points on travel, transit, restaurants, and streaming services, and 1x points on other purchases. Points are worth 1 cent each when redeemed for travel, cash back, or gift cards. The annual fee is $0.
Conclusion: Is the Bank of America Travel Rewards Card Worth It?
The Bank of America® Travel Rewards credit card can be an excellent choice for occasional travelers who want to earn flexible travel rewards without paying an annual fee. Its simple earning structure and broad definition of “travel” for redemptions make it a convenient option for those who don’t want to deal with complicated rewards programs or limited travel partners.
However, if you travel frequently, spend heavily in specific categories, or value the ability to transfer points to airline and hotel partners, you may find more value in other travel rewards cards that offer higher earning rates, more perks, and more redemption options.
Ultimately, the decision to apply for the Bank of America Travel Rewards card will depend on your travel habits, spending patterns, and banking relationships. If you’re a Bank of America Preferred Rewards member or looking for a straightforward travel rewards card with no annual fee, it could be an excellent addition to your wallet.
By carefully considering your travel goals and preferences, you can determine whether the Bank of America Travel Rewards card is the right fit for you or if another travel rewards card might better suit your needs.
READ ALSO: Guide to Earning and Redeeming Bank of America Travel Rewards
FAQs About the Bank of America Travel Rewards Card
How Much Are Bank of America Travel Rewards Points Worth?
When redeemed for a statement credit against travel or dining purchases, Bank of America Travel Rewards points are worth 1 cent each. For example, 25,000 points can be redeemed for a $250 statement credit toward eligible travel or dining purchases.
What Qualifies as Travel with the Bank of America Travel Rewards Card?
Bank of America has a broad definition of “travel” for redemption purposes. In addition to flights, hotels, rental cars, and cruises, you can redeem points for statement credits toward campgrounds, art galleries, amusement parks, carnivals, circuses, aquariums, zoos, and more.
Do Bank of America Travel Rewards Points Expire?
Bank of America Travel Rewards points do not expire as long as your account remains open and in good standing. However, if you close your account, any remaining points will be forfeited.
Can I Transfer Bank of America Travel Rewards Points to Airlines or Hotels?
No, the Bank of America Travel Rewards program does not allow you to transfer points directly to airline or hotel loyalty programs. Points can only be redeemed for statement credits against eligible travel and dining purchases.
What Other Benefits Does the Bank of America Travel Rewards Card Offer?
In addition to the rewards program and introductory APR offer, the Bank of America Travel Rewards card provides a few other benefits:
- Visa Signature Benefits: With a Visa Signature card, you’ll have access to perks like the Visa Signature Hotel Collection, which offers room upgrades, free breakfast, and other amenities at participating hotels. You’ll also get access to concierge services and other travel protections.
- No Foreign Transaction Fees: You won’t be charged extra fees when using the card for purchases abroad, making it a convenient option for international travel.
- Contactless Payments: The card features contactless payment technology, allowing you to tap to pay at compatible terminals for a faster checkout experience.
- Fraud Protection: Bank of America offers a $0 liability guarantee, so you won’t be held responsible for unauthorized transactions on your card.
