The Bank of America Travel Rewards Card’s main travel insurance benefit is rental car insurance. This BofA credit card is a Visa Signature card, which means you get rental car insurance, roadside dispatch, extended warranty protection, and travel/emergency assistance services.
The Bank of America Travel Rewards Card does not have the most common forms of travel insurance, such as lost luggage insurance, travel accident insurance, or trip cancellation protection. You need a Visa Infinite card for those perks.
The list of credit cards with trip cancellation insurance include Chase Sapphire Preferred, Chase Sapphire Reserve, Amex Platinum, Wells Fargo Propel, Bank of America Premium Rewards, Marriott Bonvoy Brilliant, Bass Pro Shops CLUB World Mastercard, and many more. The best credit card for trip cancellation insurance is Chase Sapphire Preferred because its trip cancellation coverage is $5,000 per person and $10,000 per trip, which is on the higher end. The policy also covers expenses often skipped by other cards’ trip cancellation policies, such as rental cars and recreational vehicle rentals. Chase Sapphire Preferred has an annual fee of only $95, which is less than other credit cards with similar trip cancellation coverage.… read full answer
Trip cancellation insurance generally covers trips cancelled or cut short by sickness or severe weather. After such an event, the cardholder can file a claim and get reimbursed for prepaid, nonrefundable travel expenses, including airfare, tours and hotels. To receive the reimbursement, you must have used your covered credit card to pay for the travel expenses. Most credit cards also have a limit on the amount of money that you can be reimbursed for.
List of Credit Cards with Trip Cancellation Insurance:
Though it may seem like a lot of credit cards have trip cancellation insurance, the list is definitely shorter now than it was a few years ago. Many credit card issuers have been cutting benefits like trip cancellation insurance from their cards, citing low usage by cardholders. This list is correct as of today, but it could change quickly, so make sure to check your card’s current benefits guide before you book your trip. Travel insurance perks give great peace of mind when booking a trip, and anyone who travels often would do well to have one of the above credit cards in their wallet.
Travel credit cards are worth it if they save you more than they cost you and if they provide better value than your other credit card options. In other words, the card’s rewards and benefits should outweigh the fees. And its net value – rewards and benefits, minus fees – should be higher than what other comparable cards offer. A credit card is not truly worth it if getting that card means bypassing a better deal.… read full answer
Nearly all of the best travel credit cards charge an annual fee. But there are plenty of benefits that reduce the impact of such a fee. For example, an initial bonus is one factor that can easily make a travel credit card worth getting. The best travel rewards cards offer sizeable bonuses when you meet minimum spending requirements in the first year. Top initial bonus offers cover the cost of their card’s annual fee for several years.
Typically, you can redeem a travel card’s rewards for travel-focused purchases such as airfare or hotel stays, as well as other options like gift cards, merchandise or cash. The value of those rewards varies by card. But in many cases, you’ll get the most value when you redeem for travel.
If you’re not sure what travel card would be right for you, WalletHub has picked out a few popular options for you to compare.
People who frequent a specific hotel or airline may get the most value from co-branded travel cards that offer enhanced rewards for loyal customers. Common perks on such cards include free checked bags, seat or room upgrades and lounge access. However, you’ll lose the flexibility for earning and redeeming rewards that you would get with a general travel card. Co-branded travel cards tend to give the best rewards at their affiliated airline or hotel, and your rewards are usually tied to that company’s rewards program.
The travel credit cards that are most worth it for international travel are ones that come with no foreign transaction fee. Foreign transaction fees can be as costly as 3% of each purchase made with a foreign merchant. But luckily, most travel cards don’t have this fee.
The Bank of America Travel Rewards foreign transaction fee is $0. This applies to all three BofA “Travel Rewards” cards: the Travel Rewards Credit Card, the Travel Rewards Credit Card for Students and the Business Advantage Travel Rewards card. International purchases made with any of these cards are not subject to a foreign transaction fee.… read full answer
Plus, there are several other Bank of America credit cards with travel rewards and no foreign fee. They are the Premium Rewards card, the Alaska Airlines Credit Card and the Alaska Airlines Business card.
A foreign transaction fee is a surcharge, usually between 0%-3%, added to transactions processed outside of the United States. The transaction doesn’t need to be made on foreign soil in order for the fee to apply. Online purchases stateside through an internationally-based merchant also incur a fee.
Some Bank of America cards charge a 3% foreign transaction fee. Examples include the BofA Cash Rewards card, Cash Rewards for Students card, BankAmericard credit card and Platinum Visa Business card.
Bank of America Travel Rewards Cards’ Foreign Transaction Fees:
BofA Travel Rewards: $0
BofA Travel Rewards for Students: $0
BofA Business Advantage Travel Rewards: $0
BofA Premium Rewards: $0
Alaska Airlines Credit Card: $0
Alaska Airlines Business Credit Card: $0
The three cards with “Travel Rewards” in their name all offer 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center, plus 1.5 per $1 on all other purchases.
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