Pair The Bank Of America Travel Rewards Credit Card With Bank Of America Preferred Rewards
If youve got accounts or investments with Bank of America or Merrill, you could earn up to a 75% bonus when you use your Bank of America Travel Rewards credit card through their Preferred Rewards program.
The bonus you receive depends on the combined balances in your Bank of America/Merrill accounts:
- $20,000 to $49,999: 25% bonus
- $50,000 to $99,999: 50% bonus
- $100,000 or more: 75% bonus
That means if youve got $100,000 in your Bank of America/Merrill accounts, youll earn 2.625 points per dollar on every purchase when you use your Bank of America Travel Rewards credit card .
To enroll in the Preferred Rewards program, youll need an eligible Bank of America checking account and a three-month average combined balance of $20,000 or more in qualifying Bank of America banking accounts and/or Merrill investment accounts.
Bank Of America Travel Rewards Credit Card Benefits
- $0 Liability Guarantee: Cardholders are not liable for fraudulent transactions.
- Digital Wallet Compatible: Compatible with Apple Pay, Google Pay and Samsung Pay.
- FICO Score: Free monthly FICO Score update within the mobile or online banking apps.
- Visa Signature Perks: As a Visa Signature card additional perks include extended warranty protection, travel emergency assistance, lost luggage reimbursement, roadside dispatch, auto rental collision damage waiver and purchase security.
- Travel and Emergency Assistance Services: Get access to a multilingual call center 24 hours a day 365 days of the year. Services include pre-trip assistance, medical referral assistance, emergency transportation assistance, emergency message service, prescription assistance and valuable document delivery arrangements, legal referral assistance, emergency ticket replacement, lost luggage locator service and emergency translation service.
Pick A Card With An Annual Fee
Finally, make sure to think long and hard about your goals before you sign up for a travel credit card from this issuer. After all, you can pay the $95 annual fee on the Bank of America Premium Rewards card and earn a much larger sign-up bonus and significantly more rewards on travel and dining spending.
Since this card also comes with up to a $100 airline fee credit and up to $100 toward Global Entry or TSA PreCheck membership every four years, it could easily leave you ahead in a financial sense.
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Bank Of America Travel Rewards Credit Card Review: More Details
The Bank of America Travel Rewards credit card is a great choice for travelers who like to hunt the web for the best deals without sacrificing the ability to use rewards for the purchase. Its an incredibly flexible card but has some limitations when compared to cards with potentially higher rewards value.
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What Does Online Cash Rewards Mean
The Bank of America Cash Rewards online shopping benefit is an offer for 3% cash back on select online and mobile app purchases. Online transactions with a merchant category code for bookstores, discount stores, electronics and sporting goods, among others, qualify for bonus cash back in the online shopping category.
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What Qualifies As Travel With Bank Of America
According to Bank of America, travel purchases can include “airlines, hotels, motels, timeshares, trailer parks, motorhome and recreational vehicle rentals, campgrounds, car rental agencies, truck and trailer rental, cruise lines, travel agencies, tour operators and real estate agents, operators of passenger trains, buses, taxis, limousines, ferries, boat rentals, parking lots and garages, tolls and bridge fees, tourist attractions and exhibits like art galleries, amusement parks, carnivals, circuses, aquariums, zoos, eating places and restaurant, drinking places, bars, taverns, cocktail lounges, nightclubs, discotheques and fast food restaurants.”
The information related to Bank of America® Travel Rewards credit card and Bank of America® Premium Rewards® credit card has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.
These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.
Earn Bonus Points When Booking Through The Bank Of America Travel Center
With any of these cards, you can earn an additional 1.5 points per $1 spent when booking travel through the Bank of America Travel Center. There is no limit to the bonus points you can earn through the Travel Center, although you wont earn points on insurance purchases.
|Bank of America® Business Advantage Travel Rewards World Mastercard® credit card||3 points per every dollar spent on travel purchases booked through the Bank of America® Travel Center. Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend. Points don’t expire.||4.5 points per $1 spent on travel purchases through Bank of America Travel Center|
Since you can book flights, hotels and car rentals , youll want to be sure to utilize the Bank of America Travel Center to get anywhere from 3% to 4.5% in returns.
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Intro Apr For New Purchases
In addition to easy-to-earn rewards and flexible redemption, the Bank of America Travel Rewards credit card offers a 0% introductory APR for 15 billing cycles for new cardholders .
This can be a great perk for users who have a big purchase to make and want to pay it down over time without racking up interest. Youll have a little more than a full year to make slow payments without having to worry about additional charges. Just be sure not to charge more than you can pay off in the introductory period, as the ongoing APR can be high.
Bank Of America Travel Rewards Credit Card Benefits And Perks
- Generous welcome bonus: New cardmembers can earn 25,000 points after spending $1,000 in the first 90 days of account opening.
- Introductory APR offer: Take advantage of Bank of Americas introductory 0% APR for 15 statement closing dates ). Consider using this card for large purchases or funding travel that you want to pay back over time.
- Visa Signature perks: The Bank of America Travel Rewards Card is part of the Visa Signature card collection, and it comes with valuable benefits like concierge service, extended warranty protection, lounge access, cell phone protection, and more.
- Annual fee: Theres a $0 annual fee with the Bank of America Travel Rewards Credit Card.
- : You can opt-in to receive your FICO Score every month for free. Access your through your account online or through the Bank of America mobile banking app.
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Bank Of America Travel Rewards Credit Card Rewards
No matter whether you use your credit card at the supermarket, the pump or to book a flight, you’ll earn 1.5X points for every $1 you spend on eligible purchases.
Right now, new cardholders can also take advantage of a generous welcome offer: Earn 25,000 bonus points after making $1,000 in purchases in the first 90 days of account opening. This can be redeemed for a $250 statement credit toward travel purchases.
You can start redeeming your rewards once you’ve earned 2,500 or 3,125 for gift cards. The value of your points vary depending on how you use them. You get the best rate if you use your Bank of America Travel Rewards credit card to book your travel and then apply your rewards as a statement credit to essentially reimburse yourself for your travel costs.
This method of travel rewards reimbursement is similar to redeem points for future travel, available on cards like the Capital One VentureOne Rewards Credit Cardand the Capital One Venture Rewards Credit Card.
You can also redeem your points for a cash reward either in the form of a check or electronic deposit into a Bank of America checking or savings account or for credit to an eligible cash management account with Merrill. Each point redeemed for cash is worth $0.006 . The redemption value for gift cards varies, so you’ll want to do your research before you cash in your points that way.
Bank Of America Travel Rewards Credit Card: Great For Travel Rewards On A Budget
For travelers who want a no-nonsense travel card with a $0 annual fee, the Bank of America® Travel Rewards credit card can be a great fit. With a card that offers 1.5 points for every $1 spent with no earning limits or points expiration its easy to track your points based on your spending.
Bank of America® Travel Rewards credit card has a $0 annual fee and no foreign transaction fees, which can help budget travelers save on fees for purchases made abroad.
Bank of America currently offers a sign-up bonus of 25,000 bonus points after spending $1,000 on the card in the first 90 days.
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How To Redeem Bank Of America Credit Card Rewards Points
Redeeming Bank of America credit cards rewards points is fairly straightforward. But beyond maximizing your rewards-earning potential with the Preferred Rewards program bonuses, theres very little cardholders can do to boost their point redemptions.
While each of the three cards has some variation between their redemption options, the value of points is the same for each card 1 cent per point.
Redeem Your Points For Cash
The Bank of America® Customized Cash Rewards credit card and the Bank of America® Premium Rewards® credit card both let you redeem cash back as a statement credit against your balance on the card. You can also opt for a direct deposit into a Bank of America checking or savings account or credits to eligible Merrill investment accounts.
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American Express Green Card
You cant mention travel rewards credit cards without including an American Express card, the American Express Green Card. Right now, you can earn 45,000 Membership Rewards points after spending $2,000 in the first six months of card membership. Earn 3X points per dollar spent at restaurants worldwide and on travel, which includes flights, hotels, transit, subway swipes, taxis and ridesharing services. This card also offers 1x point per dollar on all other purchases.
The Amex Green Card does have a higher annual fee, at $150, but it also features extensive perks like:
- $100 CLEAR® membership statement credit annually
- $100 statement credit for airport lounge access annually
- Trip delay insurance
Who Is Eligible For The Bank Of America Travel Rewards Credit Card
Bank of America has what is known as the 2/3/4 rule. This means you can only be approved for:
- Two Bank of America credit cards every rolling two-month period
- Three Bank of America credit cards every rolling 12-month period
- Four Bank of America credit cards every rolling 24-month period
Because of this restriction, make sure to take stock of your past Bank of America credit card applications before applying for a new credit card. That way youll know in advance if you fall within their rules and you dont have to waste a hard pull of your credit.
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Is The Bank Of America Cash Rewards A Good Card
The Bank of America Cash Rewards credit card can be a good choice for someone seeking a credit card for everyday purchases. Its also one of the best first credit cards for first-timers . The card comes with no annual fee, and new cardholders currently receive a $200 online cash rewards bonus after making at least $1,000 in purchases within
Bank Of America Travel Center Rates Compared To Other Booking Sites
In general, the prices you can find on the Bank of America Travel Center are competitive with rates on other sides. For example, take this flight from Charlotte to Chicago.
Whether you book the trip through Bank of America, United or Priceline itll cost you the same amount.
Though prices are not typically better than other sites, there is one case where booking through Bank of America makes more sense. If you have a Bank of America Travel Rewards or Business Advantage Travel Rewards card, you get a higher rewards rate on purchases made through the portal. To quickly rack up points to use toward your next trip, book on the Bank of America Travel Center.
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How To Use Bank Of America Business Advantage Travel Rewards Card
Start making the most of your Business Advantage Travel Rewards card by spending $3,000 on purchases within 90 days of opening your account about $1,000 per month in business spending. With that, youll earn 30,000 bonus points, which are worth $300 in redemptions.
From there, use your card for all your regular business spending and bills to earn 1.5x points on each purchase. When you book business travel, remember youll get a boosted 3x points when you book through the Bank of America Travel Center. Still, it can pay to compare pricing with booking directly with brands or on other sites that may offer the same route at a discounted price. After all, it only makes sense to book travel through Bank of America if the price is the same or better than what you can find elsewhere.
If your business has enough cash flow, also consider becoming a Preferred Rewards for Business member to get even more rewards on your spending. When you qualify, you can boost your rewards by 25%, 50%, or 75%. That means for purchases that would otherwise qualify for 1.5x points, you could earn 1.875x points at Gold tier, 2.25x points at Platinum, and 2.625x points at Platinum Honors.
Use The Travel Center
The Bank of America® Travel Rewards credit card boosts your rewards to 3 points per $1 spent on travel booked through the Bank of America® Travel Center. That includes flights, hotel nights, rental cars everything except insurance. There’s no limit on the extra points you can earn this way.
The card also comes with a solid sign-up promotion, so make sure you spend enough to qualify for it: 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. Other travel cards offer bigger sign-up bonuses, but those cards typically come with an annual fee. You can’t beat the Bank of America® Travel Rewards credit card’s annual fee of $0. Like most travel credit cards, this card doesn’t charge a foreign transaction fee.
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Why You Might Want A Different Travel Rewards Card
If youre familiar with rewards programs, know which categories you spend your money and can plan accordingly to use different cards for every purchase, you might want to opt for a more elaborate card strategy that takes advantage of higher earning cards. A rate of 1.5 points per dollar spent is a decent rate, but its by no means the best offer out there.
That said, there are a few shortcomings the Bank of America Travel Rewards card has that makes it fall a little further down the list of best travel rewards cards.
Bank Of America Customized Cash Rewards Credit Card
Online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening.
|Rewards Earning Rate||Earn 3% cash back in the category of your choice, 2% at grocery stores and wholesale clubs and unlimited 1% on all other purchases.|
|INTRO PURCHASE APR||0% for 15 Statement Closing Dates|
|INTRO BALANCE TRANSFER APR||0% for 15 Statement Closing Dates|
|Balance Transfer Fee||Either $10 or 3% of the amount of each transfer, whichever is greater.|
|Foreign transaction fee|
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Bank Of America Travel Rewards Credit Card Vs Bank Of America Premium Rewards Credit Card
The Bank of America Premium Rewards card is the $95-annual-fee bigger sibling to the Travel Rewards Card. It offers 2 points per dollar on travel and dining purchases and 1.5 points per dollar on all other purchases. Considering this fee alone, cardholders would have to spend significantly on travel and dining to make up for the annual fee.
However, this card also offers a $100 airline incidental credit each year and up to a $100 Global Entry or TSA PreCheck application fee credit every four years. Assuming these benefits are utilized, its easy to come out ahead of the annual fee. Those unsure if they can maximize these benefits will likely be better served by the no-annual-fee Travel Rewards card.
Bank Of America Travel Rewards Credit Card Overview
The Bank of America® Travel Rewards credit card is ideal for travelers who value versatility, or even occasional travelers that dine in more than fly out. Youll be able to earn generous flat-rate rewards on all your purchasesnot just travel expenses. And because this travel rewards credit card isnt tied to specific hotel or airline partners, you can book your travel with any provider and receive a statement credit.
Bank of America credit cards also have a looser definition of travel compared to cards from other issuers, allowing you to receive a statement credit for purchases at campgrounds, travel agencies, zoos, art galleries and more. If youve shelved your travel plans for the moment though, you can also redeem points for a statement credit toward dining purchases.
However, there arent any travel-specific features to speak of, and your rewards cant be used to directly book travel through an issuer portal or a transfer partnerwhich is likely to be a dealbreaker for quite a few cardholders. Unless youre a Preferred Rewards member that needs an easy to manage travel card, the standard Travel Rewards card essentially becomes a flat-rate cash back card with more reward redemption red tape.
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