Bank of america travel rewards international transaction fee

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The Bank of America® Travel Rewards credit card may appeal to occasional travelers who want a no-annual-fee credit card with a simple rewards system. Overall, the card is a just-average travel rewards card without many of the enticing perks offered by other popular travel credit cards, yet it offers a compelling option for members of Bank of America’s Preferred Rewards program who would reap above-average earnings as part of the bank’s enhanced rewards program.

Bank of America® Travel Rewards credit card

Welcome Bonus

25,000 points

Credit Score

Good/Excellent

Pros

• Earn uncapped rewards
• Bank of America Preferred Rewards clients earn 25%-75% more cashback on every purchase
• No foreign transaction fees

Cons

• No bonus categories to boost reward earnings
• APR can be high, depending on creditworthiness

Highlights

• Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don’t expire.
• 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.
• Use your card to book your trip how and where you want – you’re not limited to specific websites with blackout dates or restrictions.
• Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
• If you’re a Preferred Rewards member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
• Contactless Cards – The security of a chip card, with the convenience of a tap.
• This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

Introduction

We love credit cards, but we don’t love how confusing they can be when it comes to earning or redeeming their rewards. The Bank of America® Travel Rewards credit card simplifies the travel rewards space by earning 1.5 points per dollar on all purchases. While this isn’t the highest earning rate out there on a flat-rate rewards credit card, it can be significantly boosted for those who are members of Bank of America’s Preferred Rewards program.

This isn’t a card for luxury travelers. Bank of America’s take on travel rewards doesn’t include the posh perks that some other credit cards offer. That doesn’t mean, however, that the card comes without any perks. As a Visa Signature card, it offers a few travel perks to get excited about, including concierge services and access to the Visa Signature Hotel Collection.

At a Glance

• $0 annual fee.
• Earn 1.5 points per dollar on all purchases.
• No foreign transaction fees make this a good pick for travelers looking to cross borders.
• Points can be redeemed as a statement credit toward travel purchases.
• Preferred Rewards members can earn 25% to 75% more points.

Rewards

Earning Rewards

The Bank of America Travel Rewards card earns 1.5 points per dollar on all purchases.

Bank of America Preferred Rewards members earn a 25% to 75% bonus on all points earned, depending on program qualification level. The entry level of the program requires a balance of $20,000 or more in eligible Bank of America or Merrill accounts with the highest tier requiring balances of $100,000 or more.

The Bank of America Travel Rewards card offers a welcome bonus that allows eligible new cardholders to earn 25,000 online bonus points after making at least $1,000 in purchases in the first 90 days of account opening.

Redeeming Rewards

Points earned through the Bank of America Travel Rewards Card can be redeemed for statement credits to pay for flights, hotels, vacation packages, cruises, rental cars and baggage fees. Each point is worth one cent when redeemed this way.

Other ways to redeem rewards include for gift cards and cash back, but these redemptions have lower rates. Each point redeemed for cash is worth 0.6 of a cent (2,500 points = $15).

Rewards Potential

To determine the rewards potential of a card we have to look at the reward categories the card offers and calculate what an example American household might spend in those areas. Forbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages across various categories. The 70th percentile of wage-earning households bring in $100,172 annually and we base spending on that number.

Forbes Advisor estimates that the household has $26,410 in expenses that can be reasonably charged to a credit card. Earning 1.5 points per dollar spent, spending on the Bank of America Travel Rewards card would result in 39,615 points per year. After redemption against qualifying purchases, this would result in a value of $396.15 in statement credits per year.

Cardholders who are members of the Bank of America Preferred Rewards program can do even better.

• Gold—49,518 points (Equivalent to $495.18 in statement credits)
• Platinum—59,422 points (Equivalent to $594.22 in statement credits)
• Platinum Honors—69,326 points (Equivalent to $693.26 in statement credits)

Related: Best Credit Cards

Other Card Benefits

• $0 Liability Guarantee: Cardholders are not liable for fraudulent transactions.
• Digital Wallet Compatible: Compatible with Apple Pay, Google Pay and Samsung Pay.
• FICO Score: Free monthly FICO Score update within the mobile or online banking apps.
• Visa Signature Perks: As a Visa Signature card additional perks include extended warranty protection, travel emergency assistance, lost luggage reimbursement, roadside dispatch, and auto rental collision damage waiver.
• Travel and Emergency Assistance Services: Get access to a multilingual call center 24 hours a day 365 days of the year. Services include pre-trip assistance, medical referral assistance, emergency transportation assistance, emergency message service, prescription assistance and valuable document delivery arrangements, legal referral assistance, emergency ticket replacement, lost luggage locator service and emergency translation service.

Fine Print

Interest Rates

• Regular APR: See Terms
• Purchase Intro APR: See terms for 18 billing cycles for purchases
• Balance Transfer Intro APR: See terms for 18 billing cycles for any balance transfers made in the first 60 days

Fees

• Annual Fee: $0
• Balance Transfer Fee: Either $10 or 3% of the amount of each transaction, whichever is greater.
• Cash Advance: See Terms
• Foreign Purchase Transaction Fee: None

How The Card Stacks Up

Bank of America® Travel Rewards credit card vs. Capital One VentureOne Rewards Credit Card

Another option for those looking for a no-annual-fee travel rewards card with a simple earnings structure is the Capital One VentureOne card. It offers 5 miles per dollar on hotels and rental cars booked through Capital One Travel and 1.25 miles per dollar on every other purchase—not quite as much as standard earn rate on the Bank of America Travel Rewards Card.

However, the VentureOne does offer a number of additional perks (depending on the version of the card an applicant is approved for) that may be beneficial to travelers. The card also offers the ability to transfer miles to multiple Capital One partners at a potential increase in value.

Bank of America® Travel Rewards credit card vs. Chase Freedom Flex℠

The Chase Freedom Flex is a Forbes Advisor top pick both for cash-back credit cards and no annual fee credit cards, and with good reason. It offers 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores and 1% on all other purchases. Many will come out ahead with this rewards scheme compared to that of the Bank of America Travel Rewards card.

For those who have a premium Chase Ultimate Rewards®-earning card like the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, the rewards earned through the Chase Freedom Flex can be converted to Ultimate Rewards and transferred to Chase’s airline and hotel transfer partners.

Bank of America® Travel Rewards credit card vs. Bank of America® Premium Rewards® credit card

The Bank of America Premium Rewards card is the $95-annual-fee bigger sibling to the Travel Rewards Card. It offers 2 points per dollar on travel and dining purchases and 1.5 points per dollar on all other purchases. Considering this fee alone, cardholders would have to spend significantly on travel and dining to make up for the annual fee.

However, this card also offers a $100 airline incidental credit each year and up to a $100 Global Entry or TSA PreCheck application fee credit every four years. Assuming these benefits are utilized, it’s easy to come out ahead of the annual fee. Those unsure if they can maximize these benefits will likely be better served by the no-annual-fee Travel Rewards card.

Read more: The Best Travel Rewards Credit Cards

Compare Bank of America Travel Rewards Card With Other Cards

Is The Card For You?

The Bank of America® Travel Rewards credit card is likely best suited for occasional travelers who aren’t looking for luxury travel perks. The simple rewards system—1.5 points per dollar on all purchases—makes this a rewards card that eliminates headaches over figuring out the best ways to maximize spending. This card doesn’t offer many enticing additional benefits, so consumers who want to dedicate rewards strictly to travel might consider this card.

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