5 Top Perks of the Bank of America Travel Rewards Credit Card
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The Bank of America® Travel Rewards credit card is pretty freeing, in that you don’t have to use special websites or even airlines to redeem your rewards and book travel. You also can avoid extra fees like annual or foreign transaction ones.
The 5 best perks
1. No annual fee: Annual fees can eat into your rewards savings: The Bank of America® Travel Rewards credit card’s annual fee is $0.
2. No foreign transaction fees: When you travel frequently beyond U.S. borders, avoiding extra fees for foreign transactions can save you quite a bit. Your charges are based on the amount you pay for your purchases and the exchange rate to U.S. currency.
3. Generous flat rewards rate on all purchases: Earning points is unlimited at a rate of 1.5 points per $1 spent on all purchases with the Bank of America® Travel Rewards credit card. You can earn even more if you have a Bank of America checking or savings account or Merrill account.
4. Points don't expire: When you’re saving for a big trip like going to New Zealand, it may take you a couple of years. Since the points don’t expire using this card, you won’t lose any of your qualifying points while saving up for a true dream vacation.
5. Unrestricted travel bookings to use any airline and hotel you want: After you charge a travel purchase, you can request the purchase amount based on the points you have be credited back as a statement credit. It doesn’t matter what airline, cruise, rental car or hotel you book, or the date. There are no blackout dates or required websites to use. You can even book on a discount travel site.
Annual Fee
$0
Rewards Rate
1.5x
Points
Intro offer
25,000
Points
Recommended Credit Score
- 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
- 0% Introductory APR for 12 billing cycles for purchases. After the intro APR ends, 14.99% - 22.99% Variable APR will apply
- If you're a Preferred Rewards member, you can earn 25% - 75% more points on every purchase
- Contactless Cards - The security of a chip card, with the convenience of a tap
Pros
- No annual fee and no foreign transaction fees
- Generous flat rewards rate on all purchases
- Flexibility to book travel how you want
- Rewards accelerator if you bank with Bank of America or invest with Merrill
Cons
- More restrictive than a straight cash back card
- If you're a big spender with excellent credit and willing to pay an annual fee, there are cards with higher rewards
How to Maximize Your Rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2020, including those best for:
Airline miles and a large bonus: Chase Sapphire Preferred® Card
No annual fee: Wells Fargo Propel American Express® card
Flat-rate rewards with no annual fee: Bank of America® Travel Rewards credit card
Premium travel rewards: Chase Sapphire Reserve®
Luxury perks: The Platinum Card® from American Express
Business travelers: Ink Business Preferred® Credit Card
Planning a trip? Check out these articles for more inspiration and advice: Bank of America Travel Rewards review: Easy rewards for easy travel Bank of America credit cards mobile app review Fall 2018 hotel points promotions: Which ones are worth your time?
