Our opinion: The Bank of America® Travel Rewards Credit Card is distinguished by its simplicity: It’s a $0 annual fee card that gives you simple, flat-rate rewards that you can redeem as statement credits for travel or dining.
Bank of America® Travel Rewards Credit Card
Introductory bonus
Earn 25,000 online bonus points after making at least $1,000 in purchases in the first 90 days from account opening (which can be a $250 statement credit for travel purchases) and 0% introductory APR for 15 billing cycles for purchases and balance transfers made within the account first 60 days after account opening.
| 0% balance transfer period | 15 months |
| Fee for transferring the remaining balance | 3% |
| annual fee | $0 |
| Regular APR | 18.24%-28.24% variable |
Bank of America® Travel Rewards Credit Card: Overview
Memory card type: Travel
With no annual fees or foreign transaction fees, the Bank of America Travel Rewards card is an attractive choice for budget-conscious travelers or anyone who wants a simple travel credit card. While the rewards earned with this card don’t have the versatility you might find with cards that offer the ability to transfer rewards to loyalty programs or book travel through the card issuer’s portal, this card does allow you to redeem their points for statement credits for Redeem travel and meals, as cashback or to purchase gift cards.
Who is the Bank of America® Travel Rewards Credit Card for?
The Bank of America® Travel Rewards Credit Card is a good fit for budget-conscious travelers who prefer simplicity over extravagant perks. Additionally, with its 0% introductory APR for 15 billing cycles on purchases and balance transfers made within the first 60 days of account opening, the card can be a valuable tool for those looking to finance large purchases or consolidate debt.
Who shouldn’t get the Bank of America® Travel Rewards Credit Card?
For those who prefer rewards flexibility, generous travel benefits, and a substantial welcome bonus, the Travel Rewards credit card may be less attractive. The card’s modest welcome offer and lack of transfer partners for airline or hotel loyalty programs could be drawbacks for those seeking more substantial rewards and perks.
Bank of America® Travel Rewards Credit Card: How to Earn Rewards
The reward structure is easy to understand – there are no rotating categories to keep track of or activate, or different reward rates. Cardholders receive a flat rate of 1.5 points on all purchases.
You’re also eligible for a small welcome offer worth 25,000 points or $250 when you make $1,000 in purchases in the first 90 days from account opening.
How to redeem Bank of America® Travel Rewards credit card points
There are only a few ways to redeem your points with the Travel Rewards Card. You can use your rewards to book travel, cover travel and dining purchases, receive cash back as a statement credit, and purchase gift cards.
However, if you redeem cash or gift cards, you may not get the best value. A point is worth 0.6 cents, so 2,500 points will only net you $15. There is also a minimum redemption requirement of 2,500 points. The redemption value for gift cards varies. Travel and dining credits typically offer the best value for your rewards, with one point being worth a penny.
Get a statement credit for travel or dining
To redeem points with the Bank of America Travel Rewards credit card, you can receive a statement credit to offset eligible travel – such as airlines, hotels, car rentals – and restaurant purchases made in the last 12 months. There is a minimum redemption requirement of 2,500 points.
When you redeem your points this way, one point is worth one cent.
Rates and fees for Bank of America® Travel Rewards credit cards
- Annual fee: $0
- Foreign transaction fee: None
- Introduction April: 0% introductory APR for 15 billing cycles for purchases made within the first 60 days of account opening, then standard variable APR applies.
- Purchase APR: 18.24%-28.24% variable
- 0% APR Balance Transfer: 0% introductory APR for 15 billing cycles on all balance transfers made within the first 60 days of account opening. After that, the effective annual interest rate varies between 18.24% and 28.24%
- Fee for transferring the remaining balance: 3% for 60 days from account opening, after which 4% applies
- Fine: up to $40 for late payments
Additional benefits
- Free FICO Score. You can access your monthly updated TransUnion FICO score for free through the online and mobile banking app.
Credit cards similar to the Bank of America® Travel Rewards Credit Card
If you’re looking for a travel card with no annual fee and greater flexibility than the Bank of America Travel Rewards Card, consider other options. Here’s a look at how some of the competitors perform.
Capital One VentureOne Rewards Credit Card vs. Bank of America® Travel Rewards Credit Card
The Capital One VentureOne Rewards Credit Card has a versatile rewards program, although the reward rate is slightly lower. The Bank of America Travel Rewards card gets you 1.5 points per dollar, the VentureOne gets you a little less 1.25 miles per dollar, but prepaid cards give you 5 miles per dollar on hotels and car rentals through Capital One Travel .
VentureOne also has a good welcome offer on a 20,000 mile card with no annual fee after spending $500 on purchases within 3 months of account opening.
However, the VentureOne card’s biggest advantage over the Bank of America Travel Rewards card is its flexibility in redemption. This card lets you transfer your miles to over 15 Capital One travel loyalty programs, meaning you can potentially get even more out of your rewards. You can also book a trip through Capital One Travel, get a refund for travel purchases made in the last 9 days, or opt for a statement credit, although like the Bank of America card, even that last option is worth less than a penny a point .
Discover it® Miles vs. Bank of America® Travel Rewards Credit Card
Just like the Bank of America Travel Rewards Card, the Discover it® Miles card donates 1.5 miles on general purchases, with no annual or foreign transaction fees. However, a key difference between these two cards lies in the redemption options. You can’t use your miles to make a purchase, but you can redeem them for a statement credit toward a travel purchase made within the last 180 days. Or you can simply use your earnings as cashback credit, no travel required. Either way, a mile is worth a penny per point. The ability to get cash back worth the same as a travel refund is a much better option than the cash back option for less than a penny per point on the Bank of America Travel Rewards card.
The Discover it Miles card also goes a step further when it comes to welcome offers. Instead of an upfront offer after meeting a minimum spending requirement, the issuer will double the rewards you earn in the first year. For example, if you earned a total of 50,000 miles in the first year, you would receive an additional 50,000 miles at the end of the year.
Is the Bank of America® Travel Rewards Credit Card Right for You?
The Bank of America Travel Rewards Card is best for those looking for a no-frills travel card that can take advantage of the card’s 0% APR offer. It’s also best for someone who wants to use a travel rewards card’s earnings exclusively for travel and doesn’t mind not receiving cash back.
However, potential users should be aware of the limitations, including limitations on redemption. Most people do better with a card that offers 2% cash back, which is both more rewarding and allows you to use your money for whatever you want, be it travel or other purposes.
frequently asked Questions
Is it difficult to get a Bank of America® Travel Rewards credit card?
Because the Bank of America Travel Rewards Card is a rewards card, you’ll likely need a good or better FICO score, starting at 670 or higher. However, keep in mind that there is no fixed score that guarantees you that a card will not be approved, as issuers consider several factors when deciding whether to approve it.
Is the Bank of America® Travel Rewards Credit Card worth it?
For some, the Bank of America Travel Rewards credit card may be worth it — it’s a solid option for budget-conscious travelers looking for easy rewards and who may only want to redeem their rewards for one-way travel.
Please note that map details are accurate as of the date of publication but are subject to change at any time at the publisher’s discretion. Please contact the card issuer to verify rates, fees and benefits before applying.