How does the Bank of America Cash Rewards travel insurance work?

Bank of America travel insurance benefits include lost and damaged luggage reimbursement, travel accident insurance, trip cancellation coverage, and rental car insurance. To be eligible for travel insurance coverage, you’ll need to pay for your travel using your Bank of America credit card.

Types of Bank of America Travel Insurance:

• Trip delay insurance: Reimburses you when a trip starts late because of things you can’t control (bad weather, mechanical breakdowns, etc.).
• Trip cancellation/interruption insurance: Pays out when your trip ends early or gets cancelled because of something out of your control. Reasons include sickness and death of a family member.
• Travel accident insurance: Reimburses you if someone in your party is killed or seriously injured by a travel provider.
• Baggage delay/loss insurance: Pays you when a travel provider loses your baggage, damages it or sends it late. Some items are excluded, like medical equipment, documents and animals.
• Rental car insurance: Reimburses you in the event of collision damage or theft. Certain car types and driving situations are excluded.

Check the guide to benefits that came with your Bank of America credit card to see which types of travel insurance are included. The guide will also show coverage amounts and other details on each of your travel insurance benefits.

If you are looking for a Bank of America credit card with travel insurance, a good option is Bank of America Premium Rewards credit card. There are plenty of other options though, so if travel insurance is important for you, check out our recommendations for the best credit cards for travel insurance.

Bank of America does not disclose any specific information regarding the Bank of America Customized Cash Rewards credit card purchase protection. The card may offer it as part of the Visa Signature benefits, but it is not guaranteed. So, make sure to check the guide to benefits that came with your card to see which perks are included. … read full answer

Generally, credit card price protection allows cardholders to receive a refund for the difference between an item’s original purchase price and a lower price advertised within the following 60 to 120 days. Coverage amounts and excluded items vary, depending on the credit card issuer.

Alternative Credit Card Options

If you’re set on finding a good credit card for purchase protection, consider checking out the U.S. Bank Altitude Reserve Visa Infinite® Card or the Chase Sapphire Reserve® Card. Both credit cards have great purchase protection coverage, according to the most recent WalletHub purchase protection study.

Yes, Bank of America does pay for Global Entry if you have the Bank of America® Premium Rewards® credit card. This Bank of America card gives $100 in statement credits to cover the cost of Global Entry every 4 years, as long as you pay the Global Entry program fees with the card.

The Global Entry application costs $100, and the Bank of America Premium Rewards credit card will reimburse that full amount. Alternatively, cardholders can get the $85 application fee for TSA PreCheck reimbursed. But Bank of America will only cover one or the other.… read full answer

If you plan to travel abroad, it generally makes more sense to get Global Entry, which has all the benefits of TSA PreCheck plus expedited travel through U.S. Customs and Border Protection. That said, TSA PreCheck makes more sense for people who don’t have a passport or don’t travel internationally.