Our take: The Bank of America® Travel Rewards Credit Card stands out for its simplicity: It’s a $0-annual fee card that earns simple, flat-rate rewards that you can redeem as statement credits for travel or dining.
Bank of America® Travel Rewards Credit Card
Intro 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) and 0% intro APR for 15 billing cycles on purchases and balance transfers made within the first 60 days of account opening.| 0% balance transfer term | 15 months |
| Balance transfer fee | 3% |
| Annual fee | $0 |
| Regular APR | 18.24%–28.24% variable |
Reward Rates
- 1.5x 1.5 points on all purchases
Pros
- Easy to redeem rewards for dining and travel
- Offers welcome bonus
- Extra rewards for Preferred Rewards members
Cons
- No notable travel benefits
- No travel transfer partners
- Free FICO score, Balance Connect® for overdraft protection
- Foreign transaction fee: None
Bank of America® Travel Rewards Credit Card: Overview
Card type: Travel
With no annual fees or foreign transaction fees, the Bank of America Travel Rewards card is an appealing choice for budget travelers or anyone who wants simplicity in their travel credit card. Although the rewards earned on this card lack the versatility you might find in cards thatoffer the ability to transfer rewards to loyalty programs or book travel through the card issuer’s portal, this card does allow you to redeem their points for statement credits for travel and dining, as cash back, or to purchase gift cards.
Who is the Bank of America® Travel Rewards Credit Card good for?
The Bank of America® Travel Rewards Credit Card is well-suited for budget-conscious travelers who prioritize simplicity over extravagant perks. Plus, with the card’s 0% intro APR for 15 billing cycles on purchases and balance transfers made within the first 60 days of account opening, the card can be a valuable tool for those looking to finance big-ticket purchases or consolidate their debt.
Who shouldn’t get the Bank of America® Travel Rewards Credit Card?
Those who prioritize reward flexibility, lavish travel benefits, and a substantial welcome bonus may find the Travel Rewards Credit Card less appealing. The card’s modest welcome offer, and absence of transfer partners for airline or hotel loyalty programs could be drawbacks for those seeking more extensive rewards and perks.
Bank of America® Travel Rewards Credit Card: How to earn rewards
The rewards structure is easy to understand—there are no rotating categories to keep track of or activate or different rewards rates. Cardholders earn a flat 1.5 points on all purchases.
You’re also eligible to earn a modest welcome offer that’s worth 25,000 points, or $250, if you spend $1,000 in purchases in the first 90 days of account opening.
How to redeem Bank of America® Travel Rewards Credit Card points
There are only a few ways to redeem your points with the Travel Rewards Card You can use your rewards to book travel, cover travel and dining purchases, get cash-back as a statement credit, and buy gift cards.
However, when you redeem for cash or gift cards, you may not get the best value. One point is valued at 0.6 cents, so 2,500 points will only give you $15. There’s a 2,500 point minimum redemption requirement, too. The redemption value for gift cards will vary.. Travel and dining credits are typically the best value for your rewards, where a point is worth one cent.
Get a statement credit for travel or dining
To redeem points with the Bank of America Travel Rewards Credit Card, you can get a statement credit to offset eligible travel—like airlines, hotels, car rentals—and dining purchases made within the past 12 months. There’s a 2,500 point minimum redemption requirement.
When you redeem your points this way, one point is worth one cent.
Bank of America® Travel Rewards Credit Card rates and fees
- Annual fee: $0
- Foreign transaction fee: None
- Intro APR: 0% Intro APR for 15 billing cycles on purchases made in the first 60 days of account opening, then the standard variable APR will apply.
- Purchase APR: 18.24%–28.24% variable
- 0% APR balance transfer: 0% intro APR for 15 billing cycles for any balance transfers made in the first 60 days of account opening. After that, the APR is 18.24%–28.24% variable
- Balance transfer fee: 3% for 60 days from account opening, then 4% will apply
- Penalty fee: up to $40 for late payments
Additional benefits
- Free FICO Score. Through online and the mobile banking app, you can access your FICO Score from TransUnion, which is updated monthly, for free.
Credit cards similar to Bank of America® Travel Rewards Credit Card
If you’re looking for a no-annual-fee travel card with greater flexibility than the Bank of America Travel Rewards Card, there are other options to consider. Here’s a look at how some of the competition stacks up.
Capital One VentureOne Rewards Credit Card vs. Bank of America® Travel Rewards Credit Card
The Capital One VentureOne Rewards Credit Card boasts a versatile rewards program, although the rewards rate is slightly lower.. The Bank of America Travel Rewards card earns 1.5 points per dollar, the VentureOne offers a slightly lower 1.25 miles per dollar, but it does earn with 5 miles per dollar on prepaid hotels and rental cars through Capital One Travel.
The VentureOne also has a decent welcome offer for a no-annual-fee card of 20,000 miles after spending $500 on purchases within 3 months from account opening.
But the biggest benefit the VentureOne Card has over the Bank of America Travel Rewards card is the redemption flexibility. With this card, you can transfer your miles to over 15 of Capital One’s travel loyalty programs, so you can potentially wring even more value from your rewards. You can also book a trip through Capital One Travel, get reimbursed for travel purchases made within the previous 9- days, or opt for a statement credit, although like the Bank of America card, this last option is also worth less than a penny per point.
Discover it® Miles vs. Bank of America® Travel Rewards Credit Card
Just like the Bank of America Travel Rewards Card, the Discover it® Miles card dishes out 1.5 miles on general purchases, without any annual or foreign transaction fees. But a key distinction between these two cards lies in the redemption options. You cannot use your miles to make a purchase, but you can redeem them for a statement credit against a travel purchase made within the last 180 days. Or, you can simply apply your earnings as a cash-back statement credit without any travel involved. Either way, a mile is worth a penny a point. Allowing you to take cash back at the same value as a travel reimbursem*nt is a much better option than the less than a penny per point cash-back option on the Bank of America Travel Rewards card.
The Discover it Miles card also goes the extra mile when it comes to a welcome offer. Instead of an upfront offer after meeting a minimum spending requirement, the issuer doubles the rewards you earn in the first year. For example, if you earned a total of 50,000 miles in the first year, you would earn an additional 50,000 miles at the end of the year.
Is the Bank of America® Travel Rewards Credit Card right for you?
The Bank of America Travel Rewards Card is best for those looking for a no-frills travel card who can take advantage of the card’s 0% APR offer. It’s also best for someone who wants to use the earnings on a travel rewards card solely for travel, and doesn’t mind not taking cash-back.
However, potential users should be aware of its limitations, including the limitations on redemption. Most people will fare better with a card that offers 2% cash back, which is both more rewarding and allows you to use your money on anything you’d like, travel or otherwise.
Frequently asked questions
Is it hard to get a Bank of America® Travel Rewards Credit Card?
Since the Bank of America Travel Rewards Card is a rewards card, you’ll likely need a good or better FICO Score, which starts at 670 or higher.However, keep in mind there is no one set score which will guarantee you’ll be approved for a card as issuers take several factors into consideration when determining approval.
Is the Bank of America® Travel Rewards Credit Card worth it?
The Bank of America Travel Rewards credit card may be worth it for some—it’s a solid option for budget-conscious travelers seeking simple rewards who may only want to redeem their rewards for travel one way.
Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying.
