Expert ReviewBy Ralph W. Miller | Aug. 3, 2016
Bank of America BankAmericard Travel Rewards® Editor's Rating: 4.25 / 5
Bank of America BankAmericard Travel Rewards® card wants to offer you 20,000 bonus points, 1.5 points on every $1 you spend, and no annual fee to ditch your other travel rewards credit card and use theirs. Should you do it? Read this review to help you determine if it's worth it for you, or not...
In this review, you'll find:
- BankAmericard Travel Rewards® Credit Card Overview
- Advantages of the BankAmericard Travel Rewards® Credit Card
- Disadvantages of the BankAmericard Travel Rewards® Credit Card
- Real life example
- Is the BankAmericard Travel Rewards® Credit Card right for me?
BankAmericard Travel Rewards® Credit Card Overview
"Any airline, any hotel, anytime. No blackout dates." That's what the advertisement for the card says. What BofA is banking on is that you're tired of restrictive travel rewards cards that only let you book on one specific airline, or one hotel, or restrict certain flights. Are they right? If you've ever tried to use your points with another rewards card, only to find you were limited on how you could use them, then maybe you should give this card a chance. Hey, there's no annual fee and 20,000 bonus points waiting for you if you do.
Flexible rewards redemption. Book your travel arrangements how and when you want them—no limitations, no restrictions.
Bonus points. 20,000 bonus points are yours when you make $1,000 in purchases in the first 90 days of your account opening. These points can be redeemed for a $200 statement credit toward travel purchases. Is $200 enough to get you to try out the card?
Preferred rewards. Earn an additional 10-75% bonus points for being a Bank of America customer. All you need is an active checking or savings account. Higher tier rewards are for Bank of America Preferred Rewards clients.
No interest on purchases. Looking to buy something, but don't have the money for it right now? This card is your chance to make the purchase and pay it off in 12 billing cycles without paying interest.
No foreign transaction fees. If you like to travel internationally, you won't lose your points to foreign transaction fees when you make purchases overseas using this card.
No annual fee. They're making it hard to say no, right?
Requires good or excellent credit. Some may find it difficult to get approved because you must have good or excellent credit to qualify for this card.
Higher rewards cards available. With excellent credit, there are many rewards cards available to you. Some may have higher rewards than this card; check them out.
High APR. Some cardholders may find the intro APR is replaced with a high APR after the intro period has expired.
Limits on how points are spent. You must use your points toward a statement credit on eligible travel expenses, or you won't get the maximum value from your points.
Specifically for BofA customers. If you're not a BofA customer already, and have no intention of becoming one, this card doesn't make much sense. The card is set up to maximize the rewards for loyalty to Bank of America.
What It Looks Like in Real Life
Spend $1000 a month to earn 1500 points a month. Loyal BofA customers earn 150 to 1125 additional points depending on preferred status. Add the 20,000 bonus points for signing up, and you'll have $400-$500 your first year as a loyal BofA customer to redeem as a credit to your statement for eligible travel expenses.
Should You Get the BankAmericard Travel Rewards® Card?
If you're a current Bank of America customer, or thinking about becoming one, this card makes so much sense. First, you're getting 1.5 points per dollar spent—that's better than average rewards cards. But then, you're going to get a higher rewards rate for having a checking or savings account with BofA. And you're going to get a $200 bonus for signing up. The no annual fee makes this a no-brainer—sign up already!
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