Bank of America Travel Rewards Credit Card review: The no-fuss card for casual travelers

Advertiser disclosure: Content provided by www.redventures.com. Fox and its content partners earn compensation from the affiliate companies below. This content doesn’t include all available offers, and compensation may impact how and where links appear in the content.

The Bank of America Travel Rewards credit card is a no-annual-fee travel card. It offers simple, flat-rate rewards that works for budget-conscious travelers and everyday spenders. 

Cardholders earn unlimited 1.5X on all purchases, with no categories to track or activate. For Bank of America customers, the card offers even more value, as Preferred Rewards members can boost their earning potential up to 2.62 points per dollar.

While the card may not offer the premium travel perks found on other travel cards, its simplicity, competitive welcome bonus, and 0% intro APR may offer some value for less frequent travelers. 

How the Bank of America Travel Rewards Credit Card works

The Bank of America Travel Rewards card is a rewards card meant for those who prefer simplicity and value. Here are the key things to know about this card:

• Rewards: Earn 1.5X points on all purchases, with no categories to track or activate
• Welcome bonus: Earn 25,000 bonus points (a $250 value) after spending $1,000 on purchases within the first 90 days of account opening
• Annual fee: $0
• Introductory APR offer: 0% APR on purchases for the first 15 billing cycles and balance transfers made in the first 60 days, then a variable APR of 19.24% to 29.24%. 
• Redemption options: You can redeem points for statement credits toward travel and dining purchases at 1 cent per point. You can also redeem points for cash or gift cards but at a potentially lower value.
• Additional benefits: No foreign transaction fees, Visa Signature benefits, and optional Balance Connect to help prevent overdrafts when you link your Bank of America checking account.

Bank of America Travel Rewards Credit Card rewards

The Bank of America Travel Rewards card offers a basic rewards program that allows cardholders to earn points on every purchase. The card is particularly rewarding for those who use Bank of America as their primary financial institution, thanks to the Preferred Rewards program. Let's examine how you can earn and redeem points with this card.

Earning rewards

Cardholders can earn an unlimited 1.5X for every dollar spent on all purchases. This flat-rate earning system makes it easy to accumulate points without tracking bonus categories or adjusting your spending habits.

While some travel cards with annual fees offer higher earning rates in specific categories, the Bank of America Travel Rewards card’s flat-rate structure is competitive among no-annual-fee cards. Big spenders who frequently make travel purchases might find more value in a card with bonus categories and an annual fee.

Boost your earnings with Preferred Rewards

Bank of America customers can maximize their earning potential by enrolling in the Preferred Rewards program. This program offers bonus points based on your total qualifying Bank of America and Merrill accounts. There are three tiers, each with a different bonus level:

• Gold tier (minimum $20,000 combined balance): 25% bonus on points earned (1.875 points per $1)
• Platinum tier (minimum $50,000 combined balance): 50% bonus on points earned (2.25 points per $1)
• Platinum Honors tier (minimum $100,000 combined balance): 75% bonus on points earned (2.625 points per $1)

The Preferred Rewards comes with other benefits, including higher rates on savings accounts and lower interest rates on loans. Bank of America customers can increase their earning potential without paying an annual fee if they maintain a high account balance. This feature sets the Bank of America Travel Rewards Credit Card apart from many of its competitors.

Redeeming rewards

When it comes to redeeming your hard-earned points, the Bank of America Travel Rewards card offers flexibility. You can redeem points for statement credits to offset a wide range of travel and dining purchases, including:

• Flights
• Hotels 
• Vacation packages
• Cruises
• Rental cars
• Baggage fees
• Restaurants

Each point is worth 1 cent when redeemed for travel and dining, a standard redemption value for no-annual-fee cards. For example, 25,000 points are worth a $250 statement credit towards eligible purchases.

While points can also be redeemed for cash or gift cards, the redemption value may be lower. To get the most value out of your points, it's best to use them for travel or dining credits. 

Bank of America Travel Rewards Credit Card benefits

While this card may not provide the same perks as some premium cards, it still packs somewhat of a punch with its sign-up bonus and introductory APR offer.

Sign-up bonus

New cardholders can earn 25,000 bonus points after spending $1,000 on purchases within the first 90 days of account opening. When redeemed for travel and dining purchases, these bonus points are worth $250.

Compared to other no-annual-fee cards, the Travel Rewards card’s sign-up bonus is competitive. For example, the Wells Fargo Autograph℠ Card offers 20,000 bonus points (worth $200 in cash redemption) after spending $1,000 on purchases within the first three months.

0% introductory APR offer

The Travel Rewards card features a 0% introductory APR on purchases — and balance transfers made in the first 60 days — for the first 15 billing cycles. 

This offer can provide savings if you want to finance a large purchase or pay down existing debt without interest. After the introductory period, a variable APR of 19.24% to 29.24% applies.

Additional perks

While the Travel Rewards card does not offer premium perks like lounge access or travel insurance, it has some notable features.

• BankAmeriDeals: Users can activate limited-time offers to earn 5-50% extra cash back at select merchants. 
• Visa Signature benefits: This may include extended warranty protection, concierge services, roadside assistance, lost luggage reimbursement, and travel emergency assistance. Cardholders should contact Bank of America to confirm the specific features available on their card.
• Museums On Us: This program provides free admission to over 225 cultural institutions during the first weekend of each month. 

Some competing no-annual-fee cards, like the Capital One Venture Rewards Card, offer added benefits such as trip cancellation insurance, lost or damaged luggage protections, and up to $100 credit for Global Entry or TSA PreCheck. These perks are more commonly found on travel cards with annual fees.

Bank of America Travel Rewards Credit Card fees & charges

While the Bank of America Travel Rewards card doesn't charge an annual fee, cardholders should be aware of other potential costs. 

Interest rates

The Bank of America Travel Rewards card has a variable APR of 19.24% to 29.24% for purchases. This APR range is comparable to other credit cards, including travel rewards cards. If you carry a balance from month to month, you'll be subject to interest charges based on your APR.

Balance transfers are subject to the same APR as purchases. The card offers a 0% introductory APR for the first 15 billing cycles for balance transfers within the first 60 days. After the introductory period ends, the standard APR applies.

Cash advances have a higher variable APR and no grace period, meaning interest starts accruing immediately. 

If you miss a payment or your payment is returned, you may be subject to a penalty APR of up to 29.99%. This higher APR can significantly increase the cost of carrying a balance on your card.

Other fees

There are a few other fees associated with the Bank of America Travel Rewards card:

1. Balance transfer fees: There is a 3% balance transfer fee for the first 60 days after account opening, with a minimum fee of $10. After 60 days, the fee increases to 4% (minimum $10). 
2. Cash advance fees: Cash advances incur a fee of 4% of the amount advanced (minimum $10). 
3. Late payment fees: If you miss a payment due date, you may be charged a late payment fee of up to $40.

One benefit of the Travel Rewards card is that it doesn't charge foreign transaction fees. This can save you money when making purchases abroad, as many other cards charge a fee of 3% or more.

How the Bank of America Travel Rewards Credit Card compares

It's a good idea to evaluate how the Bank of America Travel Rewards Credit Card compares to other travel cards.

Bank of America Travel Rewards Credit Card vs. Capital One VentureOne Rewards Credit Card

The Capital One VentureOne Rewards Credit Card is a no-annual-fee travel rewards card that offers a slightly lower earning rate. With this card, you'll earn 1.25X miles on all purchases and 5X miles on travel booked through Capital One. 

If you prefer a slightly higher earning rate and don't mind a higher spending requirement for the sign-up bonus, the Bank of America Travel Rewards Credit Card may be the better choice. If you value the Capital One brand or prefer a lower spending requirement for the sign-up bonus, consider the VentureOne. 

Bank of America Travel Rewards Credit Card vs. Wells Fargo Autograph℠ Card

The Wells Fargo Autograph Card is another no-annual-fee travel rewards card with tiered rewards. Cardholders earn 3X points on dining, travel, gas stations, transit, popular streaming services, and phone plans and 1X on all other purchases.

The Autograph Card also offers a sign-up bonus of 20,000 bonus points when you spend $1,000 in purchases in the first three months, worth a $200 cash redemption value. It also offers a solid intro APR offer on purchases but no APR offer on balance transfers. 

For those who spend heavily in the Autograph Card's bonus categories, this card may offer more value than the Bank of America card. If your spending is more varied or you prefer a flat-rate earning structure, the Bank of America card may be a better fit.

Who should consider the Bank of America Travel Rewards Credit Card?

This card is a great option to earn travel rewards without paying an annual fee. The flat-rate earning structure means you'll earn consistent 1.5X points on all purchases, making it easy to accumulate rewards over time.

This card is ideal for those who prefer a no-fuss approach to earning and using travel rewards. Plus, if you already have a relationship with Bank of America, you can boost your earning rate through the Preferred Rewards program.

On the other hand, if you're a frequent traveler who spends heavily on travel and dining, you may get more value from a card with higher earning rates in those categories, even if it comes with an annual fee. 

How we rated this card

Every credit card review we publish has undergone a rigorous editorial process to ensure accuracy and objectivity.

We rate all credit cards on a 10-point system, with 10 being the highest possible score and 1 being the lowest possible score. We assess each card across several key factors, weighted based on what our research shows matters most to readers like you. Learn more about our methodology here.

The bottom line

The best travel rewards card for you will depend on your spending habits, travel preferences, and financial goals. By carefully comparing the features and benefits of different cards, you can find the one that aligns best with your needs.

Editorial disclosure: Opinions expressed are author's alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included in the post.