The Bank of America® Travel Rewards and the Bank of America® Unlimited Cash Rewards Credit Card have no annual fee, similar APRs and 0% introductory APR on purchases and balance transfers. The BofA Travel Rewards is excellent for flexible travel point redemptions, while the BofA Unlimited Cash stands out with its high cash back rate on all purchases.
Bank of America® Travel Rewards
vs. Bank of America® Unlimited Cash Rewards credit card
Updated: November 22, 2024
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Bank of America® Travel Rewards
Bank of America® Unlimited Cash Rewards credit card
On Issuer's Site
On Issuer's Site
Which Card Is Better for You?
You might prefer the BofA Travel Rewards if you travel often and want flexible rewards. It offers unlimited 1.5 points per $1 spent on all purchases, redeemable for travel or dining. Plus, there are no foreign transaction fees.
You might prefer the BofA Unlimited Cash if you want a simple rewards structure. It offers 1.5% cash back on all purchases and a $200 welcome bonus, making it great for everyday spending without tracking categories.
Head-to-Head Comparison: Card Details and Features
Evaluating APRs, fees, credit requirements, rewards and introductory offers will help you determine which card best suits your needs. The BofA Travel Rewards might be more beneficial for frequent travelers, while consistent cash back on all purchases could make the BofA Unlimited Cash more appealing.
Regular APR: Tie
The BofA Travel Rewards and the BofA Unlimited Cash have a competitive APR range of 19.24%–29.24%.
Annual Fee: Tie
The BofA Travel Rewards and the BofA Unlimited Cash have no annual fee, helping cardholders avoid extra costs.
Introductory 0% APRs: Tie
The BofA Travel Rewards and BofA Unlimited Cash offer a 0% APR on purchases and balance transfers for 15 billing cycles. They charge a 3% balance transfer fee for the first 60 days, which increases to 4% afterward.
Rewards: Tie
The BofA Travel Rewards earns 1.5 points per $1 spent, while the BofA Unlimited Cash offers 1.5% cash back.
Welcome Offers: BofA Unlimited Cash
The BofA Unlimited Cash offers $200 cash back after spending $1,000 in the first 90 days, with a higher return on investment of 254% compared to the BofA Travel Rewards.
Recommended Credit Score: Tie
Both cards require a good to excellent credit score of 670–850.
Penalties and Fees: BofA Travel Rewards
The BofA Travel Rewards has no foreign transaction fees, while the BofA Unlimited Cash charges 3% on international transactions. Both cards have late fees of up to $40 and a penalty APR of up to 29.99%.
Issuer Satisfaction: Tie
Since Bank of America issues both cards, they have the same issuer satisfaction rating of 4.5.
Other Features and Perks: Tie
Both cards provide up to 75% more points or cash back with Preferred Rewards® membership and free FICO® Score access.
Rewards Comparison
The BofA Travel Rewards card provides 1.5 points per dollar on all purchases, while the BofA Unlimited Cash card offers a straightforward 1.5% cash back.
See the table below for a quick comparison of these cards' rewards.
Category | BofA Travel Rewards | BofA Unlimited Cash |
|---|---|---|
All Purchases | 1.5 points per $1 | 1.5% cash back |
Redeeming Rewards
With the BofA Travel Rewards, you can use points for travel or dining, and they never expire as long as your account is active. The BofA Unlimited Cash allows straightforward cash back, including direct deposits and statement credits, with no expiration as long as the account remains in good standing.
Methodology
MoneyGeek uses a tailored scoring system to analyze credit cards for different needs, such as balance transfers and cash back. Key factors include introductory APR offers, regular APRs and effective reward rates.
FAQ: BofA Travel Rewards vs. BofA Unlimited Cash Card
What are the main differences in rewards between the BofA Travel Rewards and BofA Unlimited Cash?
The BofA Travel Rewards earns points for travel, while the BofA Unlimited Cash earns cash back.
Do either of the Bank of America cards have an annual fee?
Both are cards with no annual fee.
Can I use the BofA Travel Rewards abroad without extra fees?
The BofA Travel Rewards has no foreign transaction fee.
What is the welcome offer for the BofA Unlimited Cash?
The BofA Unlimited Cash offers $200 cash back after spending $1,000 in the first 90 days.
Do these Bank of America credit cards have any introductory APR offers?
Both cards have a 0% introductory APR offer on purchases and balance transfers for 15 billing cycles.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.