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Bank of America® Travel Rewards credit card Review

Bank of America® Travel Rewards credit card Review

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
Flexible Redemption
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.
Rewards Rate
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
Edited by
Julie Sherrier
Reviewed by
Tracy Brackman
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the Bank of America® Travel Rewards credit card best for?

If you’re in the market for a travel rewards credit card, but don’t want to deal with complicated rewards structures or spending limits, you should look at the Bank of America® Travel Rewards credit card. Cardholders 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.

In addition to using your rewards to book trips, you can redeem points for statement credits to pay for flights, hotels, vacation packages, cruises, rental cars or baggage fees.

We break down the pros and cons of the Bank of America® Travel Rewards credit card, and show how it compares to another travel rewards credit card — the Chase Sapphire Preferred® Card.

Bank of America® Travel Rewards credit card overview

    • 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. 
    • 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.
  • Credit needed:
    680 850
    Excellent/Good
  • Foreign transaction fees: none
  • Overdraft protection
  • Digital wallet technology
  • Free access to your FICO Score
  • $0 liability guarantee

Intro Purchase APR

See Terms

Regular Purchase APR

See Terms

Intro BT APR

See Terms

Regular BT APR

See Terms

Annual Fee

$0

Cash Advance Fee

See Terms

Foreign Transaction Fee

None

Balance Transfer Fee

Either $10 or 3% of the amount of each transaction, whichever is greater.

Pros and cons of the Bank of America® Travel Rewards credit card

Pros

  • Sign-up bonus
  • Rewards rate
  • Intro APR on purchases
  • $0 annual fee

Cons

  • Mediocre benefits
  • No bonus earning categories

What we like about the Bank of America® Travel Rewards credit card

  • 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.

  • Rewards rate

    The Bank of America® Travel Rewards credit card lets cardholders 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.

    If you are a Bank of America® Preferred Rewards member, you can earn 25% to 75% more points on every purchase – meaning, you can earn up to 2.62 points per dollar on all purchases. But keep in mind, to earn the highest rewards rate, you need to 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.

  • Intro APR on purchases

    If you want to finance a large purchase, such as a vacation, and pay it off over time, you can do so interest-free with the Bank of America® Travel Rewards credit card. The card offers a See Terms. After that, a See Terms applies to any remaining balance.

  • Annual fee

    The Bank of America® Travel Rewards credit card comes with an annual fee of $0.

What to look out for with the Bank of America® Travel Rewards credit card

  • Mediocre benefits

    While the Bank of America® Travel Rewards credit card offers some helpful benefits, such as overdraft protection, car rental collision damage waiver, and lost luggage coverage, it lacks some popular travel benefits such as like baggage delay insurance.

  • No bonus earning categories

    The Bank of America® Travel Rewards credit card offers a decent flat rewards rate on general purchases; however, there are other travel rewards cards available that offer up to 5 points per dollar on flights and up to 12 points per dollar on hotel stays.

    Just know, these cards typically charge annual fees of $95 or more.

Alternate rewards card to the Bank of America® Travel Rewards credit card

Compare it to the Chase Sapphire Preferred® Card

| Disclosures
Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card
on Chase's secure site
N/A
18.24% - 25.24% Variable
$95
5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
  • Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
  • With Pay Yourself BackSM, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
  • Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
750 850

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

 

If you want a travel rewards card with valuable rewards and more robust benefits — and you don’t mind paying an annual fee — the Chase Sapphire Preferred® Card is a great alternative.

Cardholders earn 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases. Plus, earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.

Along with travel, points can be redeemed for cash and gift cards, or used to pay for products. Points can also be transferred to several airline and hotel transfer partners, including British Airways Executive Club, JetBlue TrueBlue, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, Marriott Bonvoy and more.

The Chase Sapphire Preferred® Card does charge an annual fee of $95; however, the value you can get from the card’s sign-up bonus more than covers that amount during the first year. Additionally, the Chase Sapphire Preferred® Card comes with a number of benefits, including $50 in statement credits each account anniversary year for hotel stays purchased through Chase Ultimate Rewards, baggage delay insurance, trip delay reimbursement, trip cancellation and interruption insurance and more.

That said, if you’re planning to pay off a trip or other large purchase over time, the Bank of America® Travel Rewards credit card may be a better choice, since it offers an interest-free period on purchases for more than a year. The Chase Sapphire Preferred® Card, on the other hand, has a regular purchase APR of 18.24% - 25.24% variable .

Compare the Bank of America® Travel Rewards credit card to similar cards

Comparison of four different credit cards
Bank of America<sup>®</sup> Travel Rewards credit card Chase Sapphire Preferred<sup>®</sup> Card Capital One Venture Rewards Credit Card Capital One VentureOne Rewards Credit Card
Bank of America® Travel Rewards credit card Chase Sapphire Preferred® Card Capital One Venture Rewards Credit Card Capital One VentureOne Rewards Credit Card
Read Review
Apply Now
on Chase's secure site
Apply Now
on Capital One's secure site
Apply Now
on Capital One's secure site
Welcome Offer
25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®. Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
Rewards Rate
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 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases 2 Miles per dollar on every purchase, every day; 5 Miles on hotels and rental cars booked through Capital One Travel; 5 Miles per dollar when you book on Turo, the world’s largest car sharing marketplace, through May 16, 2023 1.25 Miles per dollar on every purchase, every day; 5 Miles on hotels and rental cars booked through Capital One Travel
Annual Fee
$0 $95 $95 $0
Intro Purchase APR
See Terms N/A N/A 0% intro on purchases for 15 months
Regular APR
See Terms 18.24% - 25.24% Variable 18.99% - 26.99% (Variable) 17.99% - 27.99% (Variable)
Intro Balance Transfer APR
See Terms N/A N/A 0% intro on balance transfers for 15 months
Regular Balance Transfer APR
See Terms 18.24% - 25.24% Variable 18.99% - 26.99% (Variable) 17.99% - 27.99% (Variable)
Recommended Credit
Excellent/Good Excellent Excellent/Good Excellent/Good
Card Details
Bank of America® Travel Rewards credit card Chase Sapphire Preferred® Card Capital One Venture Rewards Credit Card Capital One VentureOne Rewards Credit Card

Is Bank of America® Travel Rewards credit card right for you?

If you’re in the market for a travel credit card with a simple rewards structure and $0 annual fee, the Bank of America® Travel Rewards credit card is a solid option. In addition to offering a flat rewards rate on every purchase, the $0 annual fee card has a See Terms, then See Terms — which is ideal if you plan to carry a balance on your card from month to month.

But if you want to opportunity to squeeze more value from a card’s sign-up bonus and the ability to earn an elevated rewards rate in a variety of popular spending categories, like travel, dining and groceries, the Chase Sapphire Preferred® Card is a much better fit. Just know, the card also comes with a $95 annual fee and does not offer an intro APR on purchases.

The information related to the Bank of America® Travel Rewards credit card has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.