Bank of America^® Travel Rewards credit card Review

If you’re looking for a beginner travel rewards credit card that’s simple, yet valuable, the Bank of America^® Travel Rewards credit card is worth considering. You’ll pay no annual fee and you’ll earn flexible points at the same high rate on every purchase.

This card’s points are as simple to redeem as they are to earn. You can redeem them for statement credits toward travel and restaurant purchases, including things like museum admission and parking — items that might not be classified as travel with other travel cards. In addition, it doesn’t charge foreign transaction fees, which means you can use it on a trip outside the U.S. without racking up a ton of fees.

That said, the card lacks popular benefits like travel insurance, purchase protection, and lounge access that come with higher-tier cards.

Looking for better travel benefits? See our list of best travel credit cards

• Annual fee: $0
• Sign-up bonus: 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
• Rewards: 1.5 points per $1 spent on all purchases.
• APR on purchases: 0% Intro APR for 15 billing cycles for purchases, then 18.49% - 28.49% Variable APR
• APR on balance transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days, then 18.49% - 28.49% Variable APR on balance transfers
• Balance transfer fee: 3% for 60 days from account opening, then 4%
• Other benefits: Generous sign-up bonus, ability to earn a higher rewards rate, $0 liability guarantee, overdraft protection, travel and emergency assistance, lost luggage protection, trip cancellation/interruption protection, trip delay protection
• Credit needed: Good / Excellent

• Easy-to-earn sign-up bonus

  New cardholders can earn 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

  This is within the average range of credit card sign-up bonuses for rewards credit cards with no annual fee. You’ll find higher bonuses from co-branded airline and hotel credit cards, but those may lack the redemption flexibility you have with this card.

• Solid rewards rate

  Cardholders of the Bank of America^® Travel Rewards credit card can earn 1.5 points per $1 spent on all purchases. This works out to $0.015 per point — that’s a good earning rate, as the typical credit card travel point redemption value is around 1 cent per point. For a $0 annual fee beginner travel rewards credit card, you’ll receive a good amount of value with this card.

  Note, however, that while this is good, some credit card programs (such as Chase Ultimate Rewards® and American Express Membership Rewards) have a higher value, since you can transfer points to outside loyalty programs. The Bank of America^® Travel Rewards credit card card doesn’t have this option, which means you can’t get more than 1.5 cents per point in value (unless you’re a Bank of America Preferred rewards® member — which we’ll discuss below).

• Bonus for Bank of America customers

  If you’re a Bank of America Preferred Rewards® member with a large account balance, the Bank of America^® Travel Rewards credit card may be especially worthwhile. Depending on your membership tier, you’ll earn a 25% to 75% bonus per point. This means you could earn 1.875 to 2.625 points per dollar on every purchase.

  However, to earn the highest rate, you must have Preferred Rewards Platinum Honors status, which requires a three-month average combined balance of $100,000 or more in qualifying Bank of America banking accounts and/or Merrill Investment accounts.

  Bank of America Preferred Rewards level	Bonus rewards	Points per $1	Required average daily combined balance
  None	None	1.5	No account or combined balances below $20,000
  Gold	25%	1.875	Combined balances between $20,000 to $49,999
  Platinum	50%	2.25	Combined balances between $50,000 to $99,999
  Platinum Honors	75%	2.625	Combined balances between $100,000 to $999,999
  Diamond	75%	2.625	Combined balances of $1 million or more

• Flexible redemption options

  The points earned with the Bank of America^® Travel Rewards credit card aren’t tied to any hotel chain or airline, which is great if you’re an occasional traveler or not loyal to any single brand. You don’t have to worry about restrictions and blackout dates that come with some programs — simply book the travel for the dates you want and use your points to cover the cost. You can redeem points for qualifying purchases as far back as 12 months prior if they’re one of your most recent 2,500 travel and dining purchases.

  Bank of America has a very broad range of travel categories. You can use your points to cover purchases in categories ranging from airlines and hotels to restaurants, parking garages and aquariums.

  You can also opt to receive points as cash rewards or gift cards. However, it’s best to redeem Bank of America points for travel, since the cash redemption value is only 0.6 cents per point. That means if you choose to redeem your points into a qualifying bank account for cash, 25,000 points are only worth $150.

• Intro APR on purchases and balance transfers

  The Bank of America^® Travel Rewards credit card offers a long intro APR on new purchases and balance transfers, making it one of the best 0% travel cards. You’ll get a 0% Intro APR for 15 billing cycles for purchases. After that, a 18.49% - 28.49% Variable APR applies to any remaining balance.

  A similar offer is in place for balance transfers. You’ll pay a 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days, followed by a 18.49% - 28.49% Variable APR on balance transfers.

  Having well over a year to pay off a purchase or a balance transfer makes this card very useful for financing a vacation or paying off one that you’ve already taken. With an offer like this, you can save $844 in interest charges on a $5,000 purchase with an average APR of 24.80%.

• Light on travel benefits

  The Bank of America^® Travel Rewards credit card has some helpful travel benefits, like lost luggage protection and trip cancellation/interruption coverage. However, it lacks the popular travel card benefits like Global Entry and TSA PreCheck credits.

• No bonus categories or point transfer options

  The simple rewards structure of the Bank of America^® Travel Rewards credit card card means that it lacks the opportunity to maximize points. It doesn’t offer any category bonuses, and you can’t transfer points to outside loyalty programs.

  The only way to earn higher than $0.015 per $1 spent is by having at least $20,000 in your account and being enrolled in the Bank of America Preferred Rewards® program. Furthermore, the highest value per dollar you can earn is only $0.026, and that requires having a minimum of $100,000 in your accounts.

  Cards like the Chase Sapphire Preferred^® Card and Capital One Venture Rewards Credit Card make it easier to maximize your point value. They offer elevated earnings on categories like travel purchases, and they allow you to transfer points to a large variety of airline and hotel programs. As you can see from our estimated earnings below, these cards offer more than twice the rewards rate of the Bank of America^® Travel Rewards credit card.

  Average rewards earned per $1 spent*

  • Capital One Venture Rewards Credit Card: $0.037
  • Chase Sapphire Preferred^® Card: $0.035
  • Bilt World Elite Mastercard^®: $0.028
  • Amex EveryDay® Credit Card from American Express: $0.025
  • Capital One VentureOne Rewards Credit Card: $0.024
  • Chase Freedom Unlimited^®: $0.021
  • Bank of America^® Travel Rewards credit card: $0.015
  • Discover it^® Miles: $0.015

  *Based on LendingTree’s value methodology

  The information related to the Amex EveryDay® Credit Card from American Express has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.

• Highest earning rate limited to banking customers

  To earn a higher rate of rewards, on all purchases, you need another account with Bank of America or Merrill Lynch. Even if you’re willing to open another account, you also need an average daily balance of $20,000 or more for the lowest tier, which gives you 25% more points and $100,000 or more to reach the 75% tier, which gives you 2.62 points per dollar spent.

Bank of America^® Travel Rewards credit card vs. Chase Sapphire Preferred^® Card

If you’re willing to pay the $95 annual fee, the Chase Sapphire Preferred^® Card is one of the best travel credit cards on the market, and a great alternative to the Bank of America^® Travel Rewards credit card. Not only does it offer the ability to earn more points through bonus categories, but you can also maximize the value of your points by transferring them to hotel and airline partners with Chase Ultimate Rewards®. As a cardholder, you’ll also receive various travel protections and insurance coverage plus an annual $50 hotel credit.

You’ll enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.

However, there’s no intro APR on this card for purchases or balance transfers, so you’ll want to pay your statement balance in full to avoid interest charges.

Bank of America^® Travel Rewards credit card vs. Capital One Venture Rewards Credit Card

The Capital One Venture Rewards Credit Card is a top choice for an international travel credit card with rewards. For a $95 annual fee (see rates & fees), you’ll get rewards that are potentially much more valuable, since you can transfer them to one of Capital One’s loyalty program partners. It comes with a generous sign-up bonus and high rewards rate on every purchase: 2 Miles per dollar on every purchase, every day; 5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel.

Cardholders get a suite of benefits for hotel stays within the Lifestyle Collection. Its statement credit for TSA PreCheck® or Global Entry helps offset the annual fee and saves countless hours of waiting in lines while you travel.

Notably, like the Chase Sapphire Preferred^® Card, there is no intro APR offer with the Capital One Venture Rewards Credit Card.

Bank of America^® Travel Rewards credit card vs. Capital One VentureOne Rewards Credit Card

Like the Bank of America^® Travel Rewards credit card, the Capital One VentureOne Rewards Credit Card is a good beginner travel card with a $0 annual fee that earns rewards with every purchase (see rates & fees). You’ll earn a slightly lower rewards rate of 1.25 Miles per dollar on every purchase, every day; 5 Miles per dollar on hotels and rental cars booked through Capital One Travel. However, like the Capital One Venture Rewards Credit Card, you can transfer its miles to outside loyalty programs, allowing you to stretch your rewards farther.

The Capital One VentureOne Rewards Credit Card also offers a long intro APR offer on new purchases and balance transfers, which could save you money if you need to carry a balance.

The Bank of America^® Travel Rewards credit card is a solid option for those looking for a simple travel rewards card with a $0 annual fee. In addition to the rewards, the intro APR offers more value if you need to finance a purchase or transfer a credit card balance.

But if it’s premium travel perks that you’re looking for, and you’re willing to pay a modest annual fee, the Chase Sapphire Preferred^® Card or Capital One Venture Rewards Credit Card (see rates & fees) are good options. They both offer a sign-up bonus and elevated rewards opportunities.