When it comes to travel rewards, the BankAmericard Travel Rewards® Credit Card from Bank of America is a great option for moderate spenders looking to get away from the hassle that usually comes with booking travel on points, the annual fee that accompanies many travel cards, and foreign transaction fees.
For those who don’t mind a fee and more logistics when it comes to booking, however, a different card may help to maximize the value (think: more rewards) of your card. Read on for a review of the BankAmericard Travel Rewards® Credit Card, including its benefits and how to know when it’s the right fit for you.
- No annual fee, no foreign transaction fees
- Unlimited points, earned at a rate of 1.5 points per $1 spent
- Points can be redeemed for any travel-related expense, not just for certain dates or vendors
- 20,000 bonus points, or $200 back, when you spend at least $1,000 on the card within 90 days of opening the account
- Enhanced rewards for account holders with Bank of America, Merrill Lynch, and/or Merrill Edge
At a glance
BankAmericard Travel Rewards® Credit Card
on Bank of America's website
- Earn unlimited 1.5 points per every $1 spent on all purchases with no annual fee and no foreign transaction fees. Your points don't expire.
- 20,000 online bonus points if you make at least $1,000 in purchases in the first 90 days - that can be a $200 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 flights, hotels, vacation packages, cruises, rental cars, or baggage fees.
- Comes with chip technology for enhanced security and protection at chip-enabled terminals.
- 0% introductory APR for 12 billing cycles for purchases, then 15.99% - 23.99% Variable APR.
- Get an additional 10% customer points bonus on every purchase when you have an active Bank of America® checking or savings account.
- If you’re a Preferred Rewards client, you can increase that bonus to 25% - 75%.
- The information related to BankAmericard Travel Rewards Credit Card credit card has been compiled by Credible and has not been reviewed or provided by the issuer of this card.
1.5 Points Per Dollar
BankAmericard Travel Rewards® Credit Card deep dive
From the ease of point redemption to lack of fees and unlimited points, the BankAmericard Travel Rewards® Credit Card can be a great option for cardholders looking to cut down on travel costs through point redemptions, without having to worry about balancing an annual fee with rewards earned.
Get it: If you’re a moderate spender looking for an easy way to redeem rewards for travel-related expenses— and particularly if you hold accounts with Bank of America, Merrill Lynch, and/or Merrill Edge
BankAmericard Travel Rewards® Credit Card cardholders earn 1.5 points on every dollar spent, and 3 points on travel booked through the Bank of America Travel Center. All points are eligible for use as statement credits for travel-related expenses, meaning that, unlike many travel rewards cards, there are no blackout dates or restrictions on which airlines, hotels, and other vendors you’re able to redeem points with.
In addition, this card has no annual fee, bringing the peace of mind that, no matter how many rewards you’re able to redeem, having the card isn’t costing you anything (as long as you pay your balance in full each month).
Some benefits of the BankAmericard Travel Rewards® Credit Card include:
- Fewer fees: Unlike many travel rewards cards, the BankAmericard Travel Rewards® Credit Card has no annual fee. In addition, this card does not charge a fee for foreign transactions
- Limitless, expiration-less points: For every $1 spent on the BankAmericard Travel Rewards® Credit Card, you’ll earn 1.5 points. Points are unlimited, and they don’t expire. Purchases made through the Bank of America Travel Center earn 3 points per $1 spent
- A sign-up bonus for (nearly) all: While some travel rewards cards require customers to spend many thousands of dollars in order to qualify for a welcome bonus, the BankAmericard Travel Rewards® Credit Card offers a 20,000 point bonus after spending just $1,000—and you have 90 days to do so. This is equivalent to a $200 account credit towards travel purchases
- Point redemption on your terms: Rewards on the BankAmericard Travel Rewards® Credit Card are redeemed by requesting a statement credit for travel-related expenses, which means there are no blackout dates, preferred airlines, or other restrictions that typically come along with travel rewards. Travel-related expenses include what you might expect—flights, hotels, etc.—in addition to some less conventional categories such as circuses, boat rentals, and art galleries
- Elevated rewards for Bank of America customers: Beyond the 1.5 points on every $1 spent, Bank of America customers are eligible to redeem an additional 10-75% in customer bonus points. The account holder may be either the primary applicant or a co-applicant, and customer bonus points do not apply to the welcome bonus. The amount of bonus points you’ll be eligible for depends on which type of accounts you hold and your total assets between Bank of America, Merrill Lynch, and/or Merrill Edge
- 0% interest intro period: This card offers 0% APR on purchases for the first 12 billing cycles. This excludes balance transfers and cash advances, which start accruing interest immediately. After the 0% APR period has expired, the interest rate will rise to between 15.99% and 23.99%, depending on your creditworthiness
Skip it: If you’re not a big traveler, or you spend a lot each month and are looking to maximize credit card rewards
Rewards on the BankAmericard Travel Rewards® Credit Card can only be redeemed for travel-related expenses, so it’s not for homebodies. In addition, the rewards rate, while not poor, isn’t as high as some other travel cards, so customers who travel frequently and who spend a significant amount on their credit cards might be better off looking for another option that offers more points per dollar spent.
Consider these drawbacks of the BankAmericard Travel Rewards® Credit Card:
- The best is reserved for (banking) customers: Bank of America customers benefit the most from the BankAmericard Travel Rewards® Credit Card, as they’re eligible for additional customer bonus points. If you bank elsewhere, you’ll be excluded from these bonuses
- Reward redemption is limited to travel expenses: As the name suggests, the benefits of the BankAmericard Travel Rewards® Credit Card are tied to travel. Anyone can accrue tons of points on the card, but turning those points into actual dollars means you’ll need to spend money on travel-related expenses. As such, those who stay close to home are likely better off with another type of rewards card, such as for groceries, gas, or dining
- Not the best rewards rate: For a zero-fee card, 1.5 points per $1 isn’t at all bad—but big spenders not scared of an annual fee can earn more rewards by opting for a card with a higher rewards rate
- A bad option for carrying a balance: While carrying a balance on any credit card can be costly, interest is particularly pricey with this card, which has a minimum APR of more than 15% for the most creditworthy customers
If you’re looking for a solid travel rewards card that makes point redemption easier than ever, the BankAmericard Travel Rewards® Credit Card might be your winner—and even more so if you bank with Bank of America. If you’d rather maximize your travel rewards and don’t mind paying an annual fee or being restricted in how you redeem points, however, it might be worth looking into some other travel rewards cards. In addition, those who travel infrequently would be better off with a different type of rewards card, such as cash back.