MoneyGeek’s Take

Bank of America® Travel Rewards Credit Card for Students Review

Explore the Bank of America® Student Travel Card: rich rewards, flexible bookings and perks for the global student. Dive in to understand its advantages and nuances, ensuring a savvy financial journey.

By Grace Pilling

Reviewed by Alene Laney

Updated: December 10, 2024

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Bank of America® Travel Rewards Credit Card for Students

Rates & Fees

REVIEW & APPLY

On Issuer's Site

Rewards Summary

Earn 1.5 points

APR

18.74% - 28.74% Variable

Annual Fee

Recommended Credit

(No Credit History)

PROS
- No annual fee
- No foreign transaction fees
- Generous new cardholder bonus
- 0% introductory APR period
CONS
- Requires good to excellent credit
- Potentially high APR
- Earn 1.5 points for every $1 spent on purchases, and points never expire.
- No annual or foreign transaction fees.
- Earn 25,000 bonus points after spending $1,000 within the first 90 days — equivalent to a $250 credit for travel.
- Book trips your way without being tied to specific sites or facing blackout restrictions.
- Use points to offset travel or dining costs, including flights, hotels, car rentals, fees and even takeout meals.
- Enjoy a 0% introductory APR for 15 billing cycles on purchases and balance transfers made in the initial 60 days. Afterward, the APR ranges from 18.74% - 28.74%. Balance transfers have a 3% fee.
- Preferred Rewards members can boost point accumulation, potentially earning up to 2.62 points per $1 on purchases.
- Experience the blend of chip card security and the ease of contactless payments.

The Bank of America® Travel Rewards Credit Card is a top pick for avid travelers and students venturing overseas. Its lack of annual and foreign transaction fees, coupled with a tempting welcome offer, sets the stage for impressive travel savings. Flexibility is paramount with this card, allowing users to book trips on their terms without the constraints of using specific platforms or blackout dates. Targeting individuals with robust credit profiles, its reward scheme, especially for Preferred Members, truly enhances its allure. Moreover, its fusion of advanced security features with the convenience of contactless payments makes it an indispensable modern spending tool.

Bank of America® Travel Rewards Credit Card for Students Overview

When choosing a credit card, it's essential to critically evaluate its features, as they play a pivotal role in determining the card's overall value and suitability for individual financial needs.

Rewards rate - Earn 1.5 points for every $1 spent on purchase.
Welcome offer - Earn 25,000 bonus points after spending $1,000 within the first 90 days
Regular APR - 18.24% - 28.24% Variable
Annual fee - $0
Foreign transaction fee - None

Important Card Details

Navigating the complex world of credit cards can be daunting, especially for students on the cusp of financial independence. In our detailed analysis below, we dissect the Bank of America® Travel Rewards Credit Card for Students, highlighting its multifaceted features that range from rewarding incentives to crucial financial nuances every student should be aware of.

Rewards

The Bank of America® Travel Rewards Credit Card for Students offers a straightforward reward system. For every dollar you spend, you earn 1.5 points. What sets this apart is that these points never expire, allowing you to redeem them when you're ready. Even if your travels are sporadic due to academic schedules, your earned points will be waiting for you when it's time for that well-deserved break.

Welcome Offer

A welcome offer can be a game-changer when choosing a credit card, and this card doesn't disappoint. Imagine spending just $1,000 in your first three months and being rewarded with 25,000 bonus points. To give this context, that's a whopping $250 credit for travel. For many students, this can be a significant incentive, making that dream trip or visit home a little more affordable. Welcome offers like these can be a valuable kickstart to your credit card journey.

Fees

Hidden fees can quickly dampen the appeal of many credit cards. However, the Bank of America® Travel Rewards Credit Card for Students shines brightly here. With no annual or foreign transaction fees, this card stands out as a financially smart choice, especially for students who travel often. Whether you're studying abroad, on a spring break or just ordering a book from an international site, the absence of foreign transaction fees means your adventures won't come with unwelcome financial surprises.

0% Intro APR

Cash flow can be tight for students, and understanding the intricacies of APR is crucial. Starting with a 0% introductory APR for the initial 15 billing cycles offers students breathing room, especially if there are large upfront expenses like textbooks or settling into a new apartment. However, it's vital to have a repayment plan. After the grace period, the APR jumps to a variable range of 18.24% to 28.24%. Also, while balance transfers might seem attractive, remember there's a 3% fee, which can add up. Being informed and planning ahead can make this feature work in your favor.

How the Bank of America® Travel Rewards Credit Card for Students Compares

To find the right financial tool, let's compare two credit cards to discern which aligns best with your spending habits and needs.

How This Card Compares

Bank of America® Travel Rewards Credit Card for Students

Rewards rate - Earn 1.5 points for every $1 spent on purchase.
Welcome offer - Earn 25,000 bonus points after spending $1,000 within the first 90 days
Regular APR - 18.24% - 28.24% variable
Annual fee - $0
Foreign transaction fee - None
Best for: Students seeking travel rewards without the burden of annual or foreign transaction fees and those looking to leverage a generous welcome offer to kickstart their travel savings.

Discover it® Student Cash Back

Rewards rate - Earn 5% cash back on each quarter’s activated rotating categories (on up to $1,500 in combined purchases, then 1%) and 1% on all other purchases
Welcome offer - Discover will match all cash back earned at the end of your first year with the card.
Regular APR - 18.24% - 27.24% Variable
Annual fee - $0
Foreign transaction fee - None
Best for: Students wanting dynamic cash back from rotating categories and a unique first-year earnings match.

About Grace Pilling

Grace Pilling was the Senior Content Manager for Credit Cards at MoneyGeek. She previously led personal finance teams at Bankrate, CreditCards.com and MoneyUnder30.

Pilling has a bachelor's degree in English from Western Sydney University and a diploma in book editing, proofreading and publishing. She is focused on empowering readers to make informed financial choices that support their best lives, not a company’s bottom line.

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*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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