If you’re a budget-conscious traveler looking for a rewards credit card that won’t break the bank, the Bank of America® Travel Rewards credit card should be at the top of your list. This no-annual-fee card offers flexible rewards, valuable sign-up bonuses, and travel-friendly perks – all without tacking on yearly charges that can negate the value of your rewards.
Reasons to Love the Bank of America Travel Rewards Card
No Annual Fee Ever: One of the biggest draws of the Bank of America Travel Rewards card is that it has a $0 annual fee. Not only do you avoid paying an annual fee upfront, but there’s also no annual fee to worry about year after year. Many travel rewards cards charge annual fees ranging from $95 to $550 or more, so this no-annual-fee feature is a major advantage.
With no annual fee cutting into your rewards, it’s easier to come out ahead with the Bank of America Travel Rewards card. As long as you don’t carry a balance from month to month (which would negate your rewards with interest charges), this card puts real money back in your pocket for your travel spending.
Flexible, Straightforward Rewards: Earning and redeeming rewards with the Bank of America Travel Rewards card is delightfully simple. You’ll earn an unlimited 1.5 points per $1 spent on all purchases with no bonus categories to track or caps on what you can earn.
When it comes time to redeem those rewards, your points are worth a flat 1 cent e ach toward travel statement credits. There’s no confusing points valuations or award charts – just straightforward redemptions for a broad range of travel purchases like flights, hotels, rental cars, baggage fees, amusement park tickets, and more.
READ ALSO: Guide to Earning and Redeeming Bank of America Travel Rewards
Better yet, you can start redeeming rewards with as little as 2,500 points (worth $25 in travel). Most travel credit cards require higher redemption thresholds.
Valuable Sign-Up Bonus: To give your rewards balance an early boost, the Bank of America Travel Rewards card offers this sign-up bonus: Earn 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – that can be a $250 statement credit toward travel purchases.
For a card with no annual fee, that’s a lucrative bonus offer. Meeting the minimum spending requirement of $1,000 in the first three months is quite achievable for most households, too. In fact, those 25,000 bonus points are worth $250 in travel redemptions right off the bat – more than making up for the annual fees charged by many competing travel cards in the first year.
No Foreign Transaction Fees: The Bank of America Travel Rewards credit card has no foreign transaction fees. When traveling internationally, you can use this card freely without paying the typical 3% foreign transaction fees charged by many other cards.
This perk helps the Bank of America Travel Rewards card stand out from other no-annual-fee cards that still charge those annoying foreign transaction fees on overseas purchases. Being able to use your credit card abroad without ancillary fees is a big advantage for frequent international travelers.
0% Introductory APR Offer: In addition to its longstanding no-annual-fee policy, the Bank of America Travel Rewards card currently offers this introductory 0% APR promotion: 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro period ends, a variable APR currently 18.24% – 28.24% applies.
This introductory 0% APR offer can come in handy if you want to finance a big trip or another large purchase over time and pay it off interest-free during the intro period. Just make sure you have a payment plan in place to pay off the balance before the intro APR expires and the regular APR kicks in.
Bank of America Preferred Rewards: If you’re a Bank of America customer with qualifying account balances, you can turbocharge your rewards earnings through the bank’s Preferred Rewards program. Enroll and you’ll earn a rewards bonus on the Bank of America Travel Rewards card – up to 75% more rewards.
For example, Platinum Honors tier members earn 2.62x points per $1 spent with this card instead of the baseline 1.5x points. Diamond and Diamond Honors tiers boost it even higher to 3.5 points per $1 spent.
READ ALSO: Maximize Travel and Cash Back with the Best Rewards Credit Cards
Visa Signature Benefits: As a Visa Signature card, the Bank of America Travel Rewards also provides a suite of travel protections and purchase benefits. These include travel accident insurance, lost luggage reimbursement, trip delay reimbursement, purchase security, extended warranty protection, and more.
While you’d want to rely primarily on travel insurance policies for big trips, these added benefits can provide extra coverage in certain situations at no additional cost.
Conclusion: A Top Rewards Card for Budget Travelers
For casual travelers who want to earn flexible rewards without paying an annual fee, it’s hard to beat the Bank of America Travel Rewards credit card. Getting 1.5x points per $1 spent on all purchases, plus the ability to redeem points for any travel purchase at a rate of 1 cent per point, is a solid deal.
Add in the lucrative sign-up bonus worth $250 in travel, no foreign transaction fees, money-saving promotional financing offers, and potential Preferred Rewards bonuses, and this no-annual-fee card from Bank of America looks even more appealing.
While it may not have the highest rewards rates or most luxurious benefits compared to premium travel cards with hefty annual fees, the Bank of America Travel Rewards card hits a sweet spot for budget-conscious consumers. If travel rewards and cost-effective credit card rewards are your priority, this card should be at the top of your list.
FAQs About the Bank of America Travel Rewards Card
What Does the Bank of America Travel Rewards Card’s Sign-Up Bonus Offer?
New Bank of America Travel Rewards cardholders can earn 25,000 online bonus points after making at least $1,000 in purchases in the first 90 days. Those 25,000 points are worth $250 toward travel purchases when redeemed for a statement credit.
How Do You Redeem Rewards with the Bank of America Travel Rewards Card?
Redeeming rewards with the Bank of America Travel Rewards is simple. Just go online or call the number on the back of your card, and you can redeem points for a statement credit to offset previous travel purchases like flights, hotels, rental cars, etc. The minimum redemption is just 2,500 points for $25 toward travel.
What Exactly Counts as a “Travel Purchase” for Rewards Redemption?
Bank of America has a fairly expansive definition of eligible travel redemptions including airlines, hotels, motels, timeshares, trailer parks, campgrounds, passenger trains, buses, taxis, limousines, ferries, vacation rentals, car rentals, parking lots, cruise lines, travel agencies, tour operators, and more.
What Additional Benefits Come with the Bank of America Travel Rewards Card?
As a Visa Signature card, the Bank of America Travel Rewards provides benefits like travel accident insurance, lost luggage reimbursement, trip delay coverage, purchase security, extended warranty, and more. Preferred Rewards members can also earn boosted rewards rates.
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