Bank of America® Travel Rewards Review

MoneyGeek partners with leading industry experts and advertisers to help you get to your financial happy place. Our content is accurate when posted but offers may change over time. We may receive compensation for partner advertisements, but our editorial team independently reviews and ranks products. Learn more about our editorial policies.

MoneyGeek’s Take

With 1.5 points per dollar spent and a welcome bonus of 25,000 points (worth $250 if redeemed for travel or dining), the Bank of America® Travel Rewards card is a compelling option for travelers looking for a no-annual-fee travel card. If you’re eligible for Preferred Rewards (Bank of America’s loyalty program), you can increase the rewards you earn by up to 75%. Before applying, consider the card's lack of bonus categories and the lower value for cash redemption.

This card is best for:

Earning consistent travel rewards from everyday purchases

This card can also work for:

Taking advantage of the intro 0% APR offer to spread out travel expenses or transfer balances from other cards without accruing interest

This card is not ideal for:

Those who prefer to maximize their rewards through higher earning rates in specific spending categories

Bank of America® Travel Rewards

Rates & Fees

REVIEW & APPLY

On Issuer's Site

Rewards Summary

Earn 1.5 points

APR

18.74% - 28.74% variable

Annual Fee

Recommended Credit

670–850 (good to excellent)

PROS
- Earn 1.5 points per $1 on all purchases
- 25,000 bonus points offer
- Up to 75% bonus points for Preferred Rewards members
- Flexible rewards redemption
CONS
- Cash redemption offers lower point value
- No bonus categories
- Earn unlimited 1.5 points per $1 spent on all purchases.
- No annual fee.
- No foreign transaction fees.
- Points don't expire.
- 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. 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 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.74% - 28.74% variable APR will apply. A 3% fee applies to all balance transfers. If you're a Preferred Rewards member, you can earn 25% to 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.

Bank of America® Travel Rewards Card Overview

The Bank of America® Travel Rewards card offers a seamless way to earn points, providing 1.5 points per dollar spent on all purchases. Ideal for travelers, points yield the most value if redeemed as a statement credit for travel and dining expenses.

With a 0% introductory APR for 15 billing cycles on both purchases and balance transfers, it also provides a strategic option for managing larger expenses or consolidating debt. This card comes with no annual fee and a generous 25,000-point bonus offer, equal to $250 in travel credit. If you qualify for Bank of America’s Preferred Rewards program, you can enjoy up to a 75% increase in the points you earn.

Although the card excels in simplicity and reward flexibility, it may not suit those with significant travel expenses and who want to maximize their earnings. You can find similar, no-annual-fee travel cards that offer up to 5 points for every dollar spent on bonus categories. If you travel frequently, cards that have annual fees may even yield higher rewards.

>>MORE: MoneyGeek's Best Travel Credit Cards

Bank of America® Travel Rewards Card Details

Feature	Details
Card Type	Travel Balance Transfer
Annual Fee	$0
Introductory Offer	Earn 25,000 points after spending $1,000 in the first 90 days
Introductory APR	0% for 15 billing cycles on balance transfers and purchases, then 18.24% - 28.24% variable APR after that
Rewards	1.5 points per $1 on all purchases, with no expiration.
Rewards Redemption	Statement credits for travel and dining starting at 2,500 points (worth $0.01 per point) Cash rewards starting at 2,500 points (worth $0.006 per point) Gift cards starting at 3,125 points (actual worth varies)
Regular APR	Variable 18.24% - 28.24% after the intro period
Penalty APR	None
Balance Transfer Fees	3% per transfer
Late Fees	Up to $40
Foreign Transaction Fee	None
Other Perks	Contactless payment available Comes with $0 Liability Guarantee for fraudulent transactions Access to online and mobile banking

Benefits: Reasons to Consider This Card

The Bank of America® Travel Rewards card works best if you’re looking to get consistent travel rewards from your purchases.

Earn points on every purchase

Earn unlimited 1.5 points for every dollar spent, with no categories to activate or track. If you spend $1,000 monthly, you're looking at a $180 travel credit each year.

Redeem points your way

You can redeem points as statement credit, cash or gift check; redemption starts at 2,500 points for statement credits and cash and 3,125 for gift cards. Points yield the highest value when redeemed as a statement credit towards travel and dining expenses at a rate of $0.01 per point, while redeeming for cash will give you $0.006 per point. If redeemed as a gift card, the value of the points will vary based on the specific card selected.

Intro 0% APR offer

Enjoy 0% interest for 15 billing cycles on purchases and balance transfers, then 18.24% - 28.24% variable APR after that. This feature allows you to spread out large expenses or consolidate debt without interest piling up.

Additional Rewards for Bank of America Preferred Rewards Members

The Bank of America Preferred Rewards program increases the rewards you receive from the Bank of America® Travel Rewards card. To qualify, your three-month combined average daily balance on Bank of America and Merrill must be at least $20,000.

This program is divided into different tiers, and the rewards boost you receive depends on which tier you qualify for.

Preferred Rewards Tier	Balance Required	Rewards Bonus	Points per Dollar Spent
Gold	$20,000 - $49,999	25%	1.875
Platinum	$50,000 - $99,999	50%	2.25
Platinum Honors, Diamond and Diamond Honors	$100,000 or more	75%	2.625

Drawbacks: Reasons to Consider a Different Card

The Bank of America® Travel Rewards card is great at what it does, but it may not work for credit card power users.

No bonus categories

If you frequently spend on travel and dining, you may miss out on higher rewards that other cards offer in these areas. Among no-annual-fee cards, you can find cash back cards that offer 3% to 5% on bonus categories. For example, the Bank of America® Customized Cash Rewards offers 3% cash back on your preferred category.

Only good for dining and travel reward redemption

Redeeming points for cash diminishes their value by 40% compared to using them for travel and dining credits. You may find the card's rewards less valuable if you don’t frequently travel or eat out. You might consider a cash back card that doesn’t limit how you can redeem your rewards. The Wells Fargo Active Cash® provides unlimited 2% cash back on all purchases.

Best Ways to Use the Bank of America® Travel Rewards Card

Maximize the Bank of America® Travel Rewards card with these tips:

1
Combine with another card
If you have a card that has bonus categories, you can use that for eligible purchases to get better rewards than the Travel Rewards’ flat points rate. You can then use the Travel Rewards for your other purchases to continue earning 1.5 points per dollar spent. This strategy ensures you maximize the rewards you earn in all your purchases.
2
Focus on clearing your balance within 15 billing cycles
Pay off your debt before the 0% intro APR period on purchases and balance transfers expires. If possible, aim to settle the full amount in 12 months. This approach provides a three-month safety net in case you’re unable to follow your initial repayment strategy.

How Bank of America® Travel Rewards Compares

To help you decide if the Bank of America® Travel Rewards is right for you, we’ve compared it to similar cards.

Bank of America® Travel Rewards vs. Bank of America® Customized Cash Rewards credit card

The Customized Cash Rewards offers 3% cash back in your chosen category and 2% on groceries and wholesale clubs, with a combined spending cap of $2,500 per quarter. All other purchases earn 1% cash back. If you tend to spend heavily on specific areas and want to maximize the rewards you earn, the Customized Cash Rewards may provide more value.

Bank of America® Travel Rewards vs. Wells Fargo Active Cash®

The Wells Fargo Active Cash® lets you earn 2% cash back on all purchases, which is already higher than Travel Rewards’ rewards rate. When redeeming cash back, there are no category restrictions and you always get its full value. If you want to earn rewards on all your purchases but don’t want to limit yourself to travel rewards, the Active Cash is a solid alternative.

All Bank Of America Travel Rewards Card Comparisons

How We Evaluated The Bank of America® Travel Rewards Card

Our evaluation of the Bank of America® Travel Rewards card involved comparing it with 22 other travel and balance transfer credit cards. We analyzed the length of 0% APR offers, subsequent variable APRs, balance transfer and other fees and the value of the rewards program, if any.

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.

Read Full Bio »

sources

Bank of America. "Bank of America® Customized Cash Rewards Credit Card." Accessed September 24, 2024.
Bank of America. "Bank of America® Travel Rewards Credit Card." Accessed September 24, 2024.
Wells Fargo. "Wells Fargo Active Cash®." Accessed September 24, 2024.

*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.
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.

Bank of America® Travel Rewards Review: Easy Travel Rewards