Bank of America Travel Rewards Card for Students: Good Credit Required
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4.6
It's an OK pick if you can meet the credit requirements. But if that's the case, you can likely already qualify for a better card. And if not, other student credit cards are easier to get.
Pros
No annual fee.
New cardholder bonus offer.
Intro APR period.
Cons
Requires good/excellent credit.
Best rewards limited to certain customers.
on Bank of America's website
Compare to Other Cards
Annual fee$0 | Annual fee$0 | Annual fee$0 |
Regular APR29.99% Variable APR | ||
Intro APR0% intro APR on Purchases for 6 months and 10.99% intro APR on Balance Transfers for 6 months | Intro APR0% intro APR on Purchases for 6 months and 10.99% intro APR on Balance Transfers for 6 months | Intro APRN/A |
Recommended Credit Score |
Recommended Credit Score |
Recommended Credit Score |
Detailed review: Bank of America® Travel Rewards credit card for Students
In theory, the Bank of America® Travel Rewards credit card for Students offers a lot of value for cards in its class. Students looking for their first credit card might be wowed by the $0 annual fee, the lucrative sign-up bonus, the long 0% introductory annual percentage rate period and the decent rewards for everyday spending.
The problem is, this card requires at least good credit to qualify (FICO scores of 690 or higher), meaning it'll be inaccessible for many students with limited credit history.
If you can already clear that FICO hurdle, you might qualify for any number of better (nonstudent) cards. Alternately, even if you have thin or less-than-ideal credit, plenty of other student credit card options are available, many of which will be easier to qualify for.
The Bank of America® Travel Rewards credit card for Students is nearly identical to the nonstudent version of the card, the Bank of America® Travel Rewards credit card. Both cards require good credit or above. Check out our guide to all four of Bank of America®'s student credit cards.
Bank of America® Travel Rewards credit card for Students: The basics
Card type: Student.
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 purchases.
3 points per $1 spent on eligible travel booked through the Bank of America® Travel Center.
(Cardholders can qualify for the Bank of America® Preferred Rewards program, which adds a multiplier to the everyday 1.5 points per $1 you’d earn. But to qualify, you need at least $20,000 in a qualifying Bank of America® account. For most students, that required account balance will make this benefit unattainable.)
Redemption: Points are worth 1 cent apiece when redeemed for a statement credit against travel or restaurant purchases, or 0.6 cents apiece for cash. There is a minimum redemption of 2,500 points for travel or cash. Points can also be redeemed for gift cards at varying values depending on the retailer.
Interest rate: 0% intro APR on Purchases for 18 billing cycles and 0% intro APR on Balance Transfers for 18 billing cycles for any balance transfers made in the first 60 days, and then the ongoing APR of 17.99%-27.99% Variable APR
Foreign transaction fee: None.
Benefits and perks
Simple ongoing rewards
Simplicity is a key feature of the Bank of America® Travel Rewards credit card for Students. You'll earn 1.5 points per $1 spent on nearly all purchases with no cap. That makes this card perfect for students with other things to worry about than bonus categories.
But if you’re an optimizer, you might do better with the Discover it® Student Cash Back, which earns 5% cash back on up to $1,500 in spending per quarter in categories that rotate every three months. (Activation is required; all other purchases earn 1% back.)
Sign-up bonus
The Bank of America® Travel Rewards credit card for Students comes with a big sign-up bonus, especially for a student card, and that can help defray any number of costs you might incur while on campus. But remember, many students won’t qualify because of the credit score requirements.
If you’re a student looking to earn a sign-up bonus on a card that will be easier to obtain and help build your credit report, consider the Capital One Quicksilver Student Cash Rewards Credit Card. It offers the same ongoing earnings rate, along with the following sign-up bonus: Earn $50 when you spend $100 in the first three months.
0% intro APR offer
The 18-month introductory APR offer on the Bank of America® Travel Rewards credit card for Students is one of the longest promotional periods available for a travel card, let alone a student card. This might provide some peace of mind to students looking to finance a purchase like textbooks or a new laptop. Just remember, you’ll still have to pay the minimum balance due every month. And if you pay your balance in full each month, you’ll never have to worry about interest charges anyway.
» LEARN: How to avoid credit card interest
No proof of student status required
Though the Bank of America® Travel Rewards credit card for Students is marketed toward students, it's one of the few student cards that don't require proof of enrollment at a college or university. Other student cards will require more documentation.
Drawbacks and considerations
Good credit score required
Despite being geared toward students, the Bank of America® Travel Rewards credit card for Students requires good to excellent credit to qualify. That won’t be possible for many students who are shopping for their first credit card. But don’t worry; other student credit cards have less-stringent credit score requirements. In fact, some such cards — like the Discover it® Student chrome or Chase Freedom® Student credit card — may not require an established credit history at all.
Other cards have better earning potential
For qualifying students who want a no-hassle entry into earning credit card rewards, the Bank of America® Travel Rewards credit card for Students will work fine. But for optimizers who are OK with managing their card, there may be better options. For example, the Capital One SavorOne Student Cash Rewards Credit Card offers an uncapped 3% cash back on dining, entertainment, streaming services and grocery purchases, along with the following sign-up bonus: Earn $50 when you spend $100 in the first three months. And this card will be easier to qualify for than the Bank of America® Travel Rewards credit card for Students.
This $0-annual-fee card requires at least fair credit (FICO scores starting at 630), so it may be easier to qualify for. It earns 3% cash back on dining, entertainment and eligible streaming services and at grocery stores. Other purchases earn 1% back.
How to decide if it's right for you
The Bank of America® Travel Rewards credit card for Students would be competitive with other student cards if the requirements for approval were similar. But because of the card's credit score criteria, students without an established credit history will want to look elsewhere. And if you do have the credit history to qualify for this card, you can likely find one with a better sign-up bonus and ongoing rewards.
on Bank of America's website
