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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 Regular APR 16.99% - 26.99% Variable APR on purchases and balance transfers Credit Score Good/Excellent Pros
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IntroductionWe 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
RewardsEarning RewardsThe 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 RewardsPoints 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 PotentialTo 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.
Related: Best Credit Cards Other Card Benefits
Fine PrintInterest Rates
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How The Card Stacks UpBank of America® Travel Rewards credit card vs. Capital One VentureOne Rewards Credit CardAnother 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 cardThe 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 CardsIs 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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Something went wrong. Please try again later. Which card is better Capital One or Bank of America?Capital One's travel card offers a higher rewards rate, while Bank of America's has an edge on annual fees.
Which credit card is best for travel bookings?NerdWallet's Best Travel Credit Cards of November 2022. Chase Sapphire Preferred® Card: Best for Flexibility + point transfers + big sign-up bonus.. Capital One Venture Rewards Credit Card: Best for Flat-rate travel rewards.. Chase Freedom Unlimited®: Best for Cash back for travel bookings.. Can you use Capital One Venture miles on American Airlines?Some of the Best Ways to Redeem Capital One Miles
You can also book partner flights on Delta Airlines, Alaska Airlines, and American Airlines. Like any credit card program, some airlines provide more value than others. Transferring to these airlines first can be a better use of your Capital One miles.
Is Bank of America rewards worth it?If you spend a lot on general purchases or have a lot of travel spending, Bank of America Preferred Rewards paired with a Bank of America credit card can absolutely be worth it. Earning 2.62% cash back on general purchases and 3.5% cash back on travel purchases are some of the highest cash-back earning rates available.
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