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For frugal travelers, the Bank of America® Travel Rewards credit card is a perfect choice.
It charges an annual fee of $0 and features flexible, easy-to-redeem rewards.
Here’s what to know about its benefits.
» MORE: Complete card details for the Bank of America® Travel Rewards credit card
No annual fee
Right away, the Bank of America® Travel Rewards credit card's annual fee of $0 sets it apart from other travel credit cards and makes it an excellent pick for budget-minded travelers. Even if you don’t spend much on this card, you’ll come out ahead in rewards as long as you don't carry a balance from month to month.
» MORE: NerdWallet's best no annual fee travel credit cards
Versatile rewards
Earning and redeeming points is simple on this card. You earn a flat 1.5 points per dollar spent on all purchases. Points can be redeemed as a statement credit toward a broad range of travel expenses, such as airline tickets, hotel stays, amusem*nt park entry fees, RV rentals and more. General travel cards from other issuers tend to have narrower definitions of "travel," often leaving cardholders with fewer options when redeeming rewards. You can also redeem points for restaurant purchases.
Redemptions start at just 2,500 points, so you don’t have to make a big purchase to cash in rewards. Points are worth 1 cent apiece when redeemed for travel.
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Sign-up bonus
Like any good travel credit card, the Bank of America® Travel Rewards credit card starts you off with a 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..
For a $0-annual-fee card, that’s an excellent offer. The reasonable spending requirement makes it relatively easy to nab, too.
» MORE: NerdWallet review of the Bank of America® Travel Rewards credit card
Preferred Rewards
This straightforward card gets far more exciting if you keep a lot of money in Bank of America® or Merrill accounts. That’s because if you qualify for the bank’s Preferred Rewards program — by maintaining combined balances of $20,000 or more among eligible accounts — you can earn a higher rewards rate on this card (and all eligible Bank of America® credit cards), along with other benefits.
With combined balances of over $100,000, for example, you could earn 2.62 points per dollar spent on this card, according to the bank. Remember, you have to be enrolled in the Preferred Rewards program to get that boost.
No foreign transaction fees
This card charges no foreign transaction fees, so you won't have to deal with any annoying 3% charges while making purchases outside the U.S. That benefit, combined with the card's other budget-friendly features, regularly earns it a spot on our list of Best No Foreign Transaction Fee Credit Cards.
0% intro APR offer
The Bank of America® Travel Rewards credit card is one of the few travel cards that features a generous 0% APR period: It boasts 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 19.24% - 29.24% will apply. That can come in handy if you book a trip using the card and want to pay it off over a few months, instead of all at once. And while you’re floating that balance interest-free, you can score that sign-up bonus.
More about the card
Complete card details for the Bank of America® Travel Rewards credit card
NerdWallet review of the Bank of America® Travel Rewards credit card
FAQs
Bank of America® Customized Cash Rewards credit card. Choose which category you want to earn 3% cash back in: gas and EV charging stations; online shopping, including cable, internet, phone plans and streaming; dining; travel; drug stores and pharmacies; or home improvement and furnishings.
What are the benefits of US Bank Rewards? ›
U.S. Bank Select Rewards Cardmembers will earn 1 Point for every $1 in Net Purchases. In addition, you will earn 4 Points (5 Points total) for every $1 on prepaid car and hotel reservations purchased in the online Rewards Center using your U.S. Bank Select Rewards Card.
What can I do with my Bank of America Travel Rewards points? ›
Bank of America travel rewards basics
Essentially, you can redeem the rewards you earn for statement credits to cover travel-related purchases. Some Bank of America travel cards also allow you to cover purchases like dining with your award statement credits.
Does Bank of America Travel Rewards pay for TSA PreCheck? ›
Bank of America® Premium Rewards® credit card
Unlimited 2 points for every $1 spent on travel and dining purchases and 1.5 points per $1 spent on all other purchases. Receive up to $100 in Airport Security statement credits for either Global Entry or TSA PreCheck® application fees, every four years.
Do Bank of America Travel Rewards expire? ›
There is no expiration date on your Points, as long as your account remains in good standing. travel purchases. You can visit the Site or call Us to redeem Points for a travel statement credit (issued in U.S. dollars) to offset qualifying travel purchases. Eligible travel purchases can be found on the Site.
Can I transfer my Bank of America travel points to an airline? ›
Bank of America Transfer Partners
Unlike many other banks, there are no airline or hotel transfer partners as part of the Bank of America Preferred Rewards program. This means that all of the rewards that you earn will only be redeemable for cash rewards.
How many points for a flight at Bank of America? ›
The average fare for a flight in the first half of 2021 was $221, according to the Bureau of Labor Statistics, which would require 22,100 Bank of America rewards points. You don%t have to pay for the entire ticket with points, though. You can redeem for any amount above the $25 threshold.
Are Bank rewards worth it? ›
Are rewards credit cards worth it? In most cases, yes — as long as you're not carrying a balance (on which you will have to pay interest) and any annual fees charged by the card are less than the value of the rewards you earn each year.
What percentage of points do you get with Bank of America Travel Rewards? ›
Bank of America Preferred Rewards® members earn 25%-75% more points on every purchase. That means you could earn 2.5 to 3.5 points on travel and dining purchases and 1.87 to 2.62 points on all other purchases, for every $1 you spend.
What happens when you redeem Bank of America Rewards? ›
Redeeming wisely: Preferred Rewards will boost your earnings
Statement credit, which is a credit applied toward your current balance. Direct deposit into a Bank of America® checking or savings account or an eligible account at Merrill. Personal check, which may take about 14 days to reach you by mail.
Bank of America points are generally worth 1 cent per point when redeemed as a statement credit or for travel purchases. As such, the number of Bank of America points that you'll need for a flight will depend on the cost of your flight. For example, a $250 flight will cost 25,000 points.
Does Bank of America Travel Rewards have a fee? ›
No annual fee † and no foreign transaction fees
Enjoy no annual fee and no foreign transaction fees while earning points to use for a statement credit to pay for flights, hotel stays, vacation rentals, baggage fees, and also at restaurants – including takeout.
Does the Bank of America Travel Rewards card have travel insurance? ›
Yes, Bank of America does offer travel insurance. The most common Bank of America travel insurance benefits are travel and emergency assistance services and trip cancellation insurance. Some Bank of America credit cards also offer emergency evacuation and transportation and trip delay reimbursem*nt coverage.
What is the disadvantage of travel money card? ›
Cons of Travelling with a Travel Card
Depending on where you travel to, not all destinations or vendors will accept a travel card as a form of payment. Because of this, it may be a good idea to take some cash with you on holiday to avoid tricky situations where your card may not be accepted.
Does Bank of America credit card give you travel insurance? ›
The Bank of America Premium Rewards credit card also comes with a number of travel insurance benefits and protections, including the following: Trip delay reimbursem*nt: Get up to $500 if a covered trip is delayed for more than 12 hours)
Can I use my Bank of America Travel Rewards card internationally? ›
There are also no foreign transaction fees, giving you freedom to take this card with you on your next overseas vacation. The card also offers new customers a 0% interest period on purchases for the first 18 billing cycles (after, 16.99% - 26.99% variable APR).
Does the Bank of America Travel Rewards card cover car rental insurance? ›
Bank of America® Travel Rewards credit card rental car benefits. The Bank of America Travel Rewards offers car rental insurance in the form of an auto rental collision damage waiver.
