Overview of the Bank of America Travel Rewards Credit Card
The Bank of America® Travel Rewards credit card comes with no annual fee, making it a solid flat-rate option, especially for members of the Bank of America Preferred Rewards® program. Without this bonus, however, it may not stand out against other flat-rate cards. Card rating*: ⭐⭐⭐
*This rating reflects the opinions of Flying Frugal’s editors and is not influenced by the issuer.
For those new to credit card rewards, the entire points and miles landscape can feel overwhelming. Many beginners may find the process of earning and redeeming rewards daunting and may even abandon it altogether.
The Bank of America Travel Rewards card has the advantage of simplicity, boasting no annual fee and recommended credit scores of 670 or higher for approval.
While seasoned reward enthusiasts may find the card’s benefits lackluster, its uncomplicated earning structure serves as a good entry point for novices.
Let’s explore the card’s features to determine if it fits your needs.
Pros and Cons of the Bank of America Travel Rewards
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Welcome Offer for Bank of America Travel Rewards
New cardholders can earn 25,000 bonus points after spending $1,000 within the first 90 days. These points redeem at a flat rate of 1 cent each for travel or dining purchases, making the bonus worth $250 — a reasonable offer, but lower than competing travel cards.
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While the bonus isn’t particularly enticing, it is straightforward to earn. Given that there’s no annual fee, you’re essentially gaining rewards for everyday purchases. Note that the card does have a 24-month restriction: you can’t apply for the card if you’ve had it in the last two years.
Benefits of the Bank of America Travel Rewards
Simplicity is the card’s primary selling point. It lacks bonus categories and earning caps, making it a great starter card for beginners.
Enjoy no foreign transaction fees when making purchases abroad — a significant advantage over many no-annual-fee cards.
Earning Points with the Bank of America Travel Rewards
The earning structure is straightforward: 3 points per dollar on travel purchased through the Bank of America Travel Center, and unlimited 1.5 points on all other purchases. There’s no cap on rewards, and your points don’t expire as long as your account remains open.
However, if you qualify for the Bank of America Preferred Rewards program, the earning rates become more attractive. To join, you need an eligible Bank of America personal checking account and a minimum average daily balance of $20,000.
| Preferred Rewards Tier | Balance Requirement | Earning Bonus | Minimum Earning Rate |
|---|---|---|---|
| Standard | N/A | N/A | 1.5 points per dollar |
| Gold | $20,000 | 25% | 1.875 points per dollar |
| Platinum | $50,000 | 50% | 2.25 points per dollar |
| Platinum Honors | $100,000 | 75% | 2.625 points per dollar |
Cardholders at the top tiers can earn over 2.625 points per dollar, a strong value for everyday spending.
Redeeming Points with the Bank of America Travel Rewards
Points can be redeemed like cash-back rewards, worth 1 cent each, for travel or dining as a statement credit. Simply log into your account to select qualifying transactions from the past year.
This straightforward redemption process is ideal for beginners, removing the complexities of maximizing rewards. Alternatively, you may redeem points for cash or gift cards, though the value may vary.
Comparative Cards to Bank of America Travel Rewards
If you’re seeking more benefits or a different earning structure, consider these alternatives:
- Bank of America® Premium Rewards®: This card has a $95 annual fee, offers 2 points per dollar on travel and dining, and includes more travel perks.
- Capital One VentureOne Rewards: Provides 1.25 miles per dollar on everyday purchases and flexible transfer partners.
- Chase Freedom Unlimited®: Offers 5% cash back on travel booked through Chase and 3% at restaurants, with no annual fee.
Is the Bank of America Travel Rewards Worth It?
This card is ideal for those who value simplicity in earning and redeeming rewards, particularly if you participate in the Preferred Rewards program. Frequent travelers desiring higher earnings and versatile redemption options may find better choices elsewhere.
Final Thoughts
The Bank of America Travel Rewards card presents an uncomplicated earning and redemption structure appealing to beginners, but frequent travelers should explore other competitive options.
Apply here: Bank of America Travel Rewards card
