- 25,000 points initial bonus ($250 in travel)
- 1.5 points / $1 spent
- No annual fee or foreign transaction fees
- User-friendly travel rewards redemption
- Very high regular APR
- Requires excellent credit
Bank of America Travel Rewards Card Review Summary
The Bank of America® Travel Rewards credit card is a very good option for people with excellent credit who want to reduce the cost of travel without paying an annual fee. But it’s only a truly great choice for fairly low-spending Bank of America banking customers with a lot of cash saved.
The rewards start with a 25,000 points initial rewards bonus, worth $250 in travel, when you spend $1,000 or more within 90 days of opening your account. That’s about the average for a card offering a points-based bonus.
The Bank of America Travel Rewards card’s points keep on coming, at a rate of 1.5 per $1 spent on all purchases, all the time. That’s nearly 30% more than you’d get from the average credit card with points. And the gap is even bigger if you have a Bank of America checking or savings account. You can learn more below.
Transfer Fee: 3% (min $10)
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.
- 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.
- New longer intro period! 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.24% - 26.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
- 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.
- More Details & Reviews About Bank of America® Travel Rewards credit card
Bank of America Travel Rewards Highlights
25,000-Point Initial Bonus
You only need to spend $1,000 during the first 90 days your account is open to qualify for this bounty. That’s 25% back when you redeem for travel. The average rewards card offers nearly the same amount of points, according to WalletHub’s latest Credit Card Landscape Report.
1.5 Points per $1 Spent on Purchases
That equals 1.5% back in the form of free travel. In other words, you get $15 in travel for every $1,000 you spend. The average credit cards with points gives you just 1.22 points per $1.
$0 Annual Fee
This saves you $21 per year compared to the average credit card. Not having to worry about an annual fee is especially important for people who don’t plan to use their new credit card regularly or for all of their spending.
$0 Foreign Transaction Fee
A travel rewards credit card that charges you extra for traveling abroad would be pretty disappointing. Thankfully, the Bank of America Travel Rewards card doesn’t let you down in that regard.
Flexible Travel Rewards Redemption
You can use your Bank of America Travel Rewards points to pay for any travel-related purchases that you charge to the account and also purchases made at restaurants, including takeout. In other words, you don’t have to book your travel accommodations with points; you can use them to pay your credit card bill after the fact. In fact, you have 12 months from when you make a travel purchase to use your points to cover the cost.
Whether a given purchase qualifies as travel-related depends on the merchant’s category code. However, all major travel providers count. That includes airlines, hotels, cruise lines, and even taxis/ride-sharing services and vacation-home-rental services. More and more travel rewards cards are adopting this approach, and consumers definitely benefit from the flexibility.
Having a Bank of America checking or savings account gets you more points on purchases. You can join Bank of America Preferred Rewards if you have at least $20,000 in such an account, or a Merrill investment account. Among other benefits, that increases your bonus to 25% - 75%, depending on your exact balance.
0% Intro APR for New Purchases
Bank of America Travel Rewards credit card offers 0% for 18 billing cycles on new purchases. That is longer than average for a 0% APR credit card offer right now (12 months). After the intro APR period ends, a 16.24% - 26.24% Variable APR will apply.
0% Intro APR for Balance Transfers
The Bank of America Travel Rewards credit card also offers 0% intro rates on balance transfers for the first 18 billing cycles your account is open. You shouldn’t get too excited, though, as you need to transfer your balance within the first 60 days. Furthermore, there is a 3% (min $10) balance-transfer fee that spoils this part of the deal. And after the intro APR ends, a 16.24% - 26.24% Variable APR will apply.
Bank of America Travel Rewards Lowlights
Requires Excellent Credit
The Bank of America Travel Rewards credit card would be much more appealing if more people could get it. Instead, you need a credit score of 750 or higher to have a good chance of being approved. It might be more successful, too. People with excellent credit have their pick of the best rewards credit cards on the market, and the travel rewards space is very competitive, with lots of great offers available.
You can check your latest credit score for free on WalletHub to gauge your odds of qualifying for Bank of America Travel Rewards.
Very High Regular APR
You are guaranteed to pay interest at an above-average rate if you carry a balance from month to month with this card when its regular APR is in effect. After all, the Bank of America Travel Rewards card requires excellent credit for approval and the average credit card for people with excellent credit has a 13.85% APR.
Other Things to Consider About The Bank of America Travel Rewards Card
Non-Travel Redemption Options Give Less Value
In addition to redeeming for a travel statement credit, you can also cash in your points more literally. You can exchange them for gift cards or a cash reward (i.e. a bank account deposit or a non-travel statement credit). But instead of being worth a penny apiece, as is the case when you redeem for travel, Bank of America Travel Rewards points yield just over half as much ($0.006) when you redeem them for cash. And with gift cards, point values vary.
Minimum Redemption Requirements
You need at least 2,500 points to redeem for a travel statement credit or cash reward. And you need at least 3,125 point for a gift card.
Bank of America Travel Rewards Card vs. the Competition
Excellent credit puts you in a position of power when shopping for a credit card. Issuers clearly want your business, judging by the many great deals available to people with excellent scores, including big rewards bonuses and long 0% interest periods. Settling, in other words, can be costly.
To help you confirm you’ve found the best credit card for your needs, we’ve compared the Bank of America Travel Rewards credit card to some of its top competitors in key categories.
Bank of America® Travel Rewards credit card
Capital One VentureOne Rewards Credit Card
Chase Freedom Unlimited®
Capital One Venture Rewards Credit Card
|Bonus Offer||25,000 points||20,000 miles||N/A||75,000 miles|
|Rewards Rate||1.5 points / $1||1.25 - 5 miles / $1||1.5 - 5% Cash Back||2 - 5 miles / $1|
|Purchase Intro APR||0% for 18 billing cycles||0% for 15 months||0% for 15 months||N/A|
|Transfer Intro APR||0% for 18 billing cycles for any balance transfers made in the first 60 days|
Transfer Fee: 3% (min $10)
|0% for 15 months|
Transfer Fee: 3%
|0% for 15 months|
Transfer Fee: Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days (5%, min $5 after)
|Regular APR||16.24% - 26.24% Variable||16.49% - 26.49% (V)||17.24% - 25.99% (V)||17.49% - 25.49% (V)|
|Details, Rates & Fees||Learn More||Learn More||Learn More||Learn More|