Bank of America Travel Rewards Review 2020

Rating:
4.3/5
4.3 stars out of 5

The Smart Investor has collected card information independently. Issuers did not provide the details, nor are they responsible for their accuracy. The review is not a recommendation, the actual rates/fees may be different.

Bank of America Travel Rewards Credit Card is a straightforward rewards card that doesn’t shift spending categories for higher bonuses. It offers flexibility with its travel rewards and simplicity for those who don’t want to jump through hoops in order to earn or spend their rewards. 

Bank of America Travel Rewards Credit Card is a straightforward rewards card that doesn’t shift spending categories for higher bonuses, offers flexibility with its travel rewards and simplicity for those who don’t want to jump through hoops in order to earn or spend their rewards.

The card has no annual fee, not common at all when talking about travel cards.

It offers unlimited 1.5 points for every $1 spent on all purchases and 0% intro APR on purchases for 12 months. Then 14.99% to 22.99% Standard Variable Purchase APR and 3% balance transfer fee.

In addition, you get 25,000 bonus points after spending $1,000 in the first 3 months of opening the card.

The card is issued by Bank of America but it is a Visa card so it is widely accepted.

Bank of America Travel Rewards

On BoFa’s Secure Website

Our Bottom Line

Credit Rating Requirements

PROS

CONS

Highlights

Pros

Cons

Bank of America Travel Rewards Card – Benefits

Let’s take a look at the benefits of the BoFa Travel Rewards card and see if it’s the right one for your wallet or not.

You can get 25,000 points after spending $1,000 in the first 3 months of opening the card. This equals about $250 in travel rewards iti. 

This is one of the larger sign-up bonuses in the market with a low threshold.

Bank of America Travel Rewards Credit Card earns a unlimited 1.5 points for every $1 spent on all purchases.

If you use your card Bank of America Travel Rewards Credit Card and book travel through the Bank of America Travel Center, you will earn 3 points per dollar spent.

Bank of America Travel Rewards Credit Card has no annual fee, so you won’t have to meet spending thresholds to pay off it off. You can start earning rewards as soon as you get the card.

Bank of America Travel Rewards Credit Card has no transaction fees while traveling in another country. Many other rewards cards and regular credit cards have fees when you make purchases outside of the United States.

If you are looking to save money on interest, the Bank of America Travel Rewards Credit Card offers a 0.00% introductory rate for 12 months on purchases. You can also charge up the card and pay no interest for 12 months on your purchases. 

This is great if you have a big purchase in mind and want to pay over time. Note that there are other cards that offer longer 0% introductory rates.

Bank of America has a program for all of its credit cards in which cardholders can earn between 25%-75% more rewards with their cards. To qualify for this reward you need at least $20,000 combined with Bank of America or Merrill Lynch accounts. 

This could really juice your rewards if you are able to qualify for this program. Also, the Bank of America Travel Rewards card points do not expire.

With the Bank of America Travel Rewards Credit Card you can book your trip how and where you want. You do not have to use specific companies, deal with blackout dates or other restrictions. 

You can use the points for flights, hotels, vacations, packages, cruises, and rental cars. The card is a Visa credit card and customers are eligible for Visa Signature Benefits. This is a 24/7 concierge service that helps cardholders with booking travel and hotel upgrades. 

Lastly, Bank of America Travel Rewards Credit Card has car rental insurance in excess of the company’s insurance policy. You can also add a PIN to your card for international travel to protect your card in case of theft.

Bank of America Travel Rewards Card – Drawbacks

Here are the most important cons you should consider before apply to the BoFa Travel Rewards card card:

Bank of America Travel Rewards Credit Card has a minimum for cardholders to redeem points. 

You need 2,500 points to use them for travel and 3,125 points to redeem for a gift card. With many other cards you can use rewards as soon as you earn them.

There are other rewards cards in the market that offer higher rewards. If you are a big spender on travel and do not mind the annual fee, there are other cards that offer better rewards.

The APR for the Bank of America Travel Rewards Credit Card is a 14.99%-22.99% variable rate, which is high for a card that requires borrowers with excellent credit histories. 

The cash advance variable rate is 27.24% You need an excellent credit history to be approved for this card.

Bank of America Travel Rewards Credit Card does not have some of the same protections as other travel rewards cards, such as delayed or canceled flight insurance or protections on lost luggage.

Alternatives to Bank of America Travel Rewards Card

There are other credit cards that do offer comparable cash back rewards – we’ve summarized the most popular cards which can use as an alternative to the BoFa Travel Rewards:

Marriott Bonvoy Boundless Card has great rewards for those customers who are loyal to Marriott Hotel chains. With the Marriott Bonvoy Boundless Card, every dollar spent at one of the thousands of Marriott Hotels earns the cardholder 6 points. This has no limit. You’ll also get 2 points for every $1 spent on other purchases.

There is an an initial sign-up bonus of 75,000 points after spending $3,000 in the first 3 months, as well as many other benefits such as free nights, airline points transferring, free qifi , baggage insurance and more.

However, this card has a $95 annual fee and a bit high APR of 15.99%-22.99%.

The Citi/ AAdvantage Platinum Select WorldElite Mastercard earns the card holder double miles on all American Airline purchases, gas, and at restaurants. 

The card offers 2 miles for every $1 spent at restaurants and gas stations and eligible American Airlines purchases . In addition, you’ll earn earn 1 mile for every $1 spent on other purchases. 

The Citi/ AAdvantage Platinum  sign-up bonus gives the card holder 50,000 AAdvantage miles after making $2,000 in purchases in the first 3 months of having opened the account

However, the card comes with $99 annual fee and the standard variable APR for purchases is 15.99% to 24.99% based on your creditworthiness

Bank of America Cash Rewards is a cashback rewards card that allows card holders to pick their own bonus category for the 3% cashback rewards. It also offer 2% back on groceries and 1% back on all other spending.

Bank of America Cash Rewards does not have an annual fee and you’ll get $200 cashback bonus after you spend $1,000 on your new card within the first 90 days on eligible purchases. If you are looking to save money on interest, the Bank of America Cash Rewards offers a 0% introductory rate for 15 months on balance transfers. However, there is a 3% balance transfer fee required if you want to take advantage of the introductory 0% APR rate. 

The APR for the Bank of America Cash Reward is a 13.99%-23.99% variable rate.

Is the BoFa Travel Rewards Card Right For You?

Bank of America Travel Rewards Credit Card is a great card for frequent travelers who want to earn rewards on their spending but do not want to pay an annual fee. 

This card is also great for those who qualify for Bank of America’s Preferred Rewards Program. Bank of America Travel Rewards Credit cardholders can make the rewards go much further if they qualify for the Preferred Program. This card is straightforward and simple in its rewards and redemption structure. 

Many customers can appreciate the flexibility of redeeming rewards without having to use special carriers. Also there are fewer restrictions and blackout dates. This card comes with a small 0% introductory rate that cardholders can use to save some money on interest. 

There are much better rewards cards available, but many of them come with annual fees and different programs that require cardholders to jump through hoops in order to maximize their rewards.