Charles H. Miller
Bank of America’s credit card catered towards travelers is called BankAmericard Travel Rewards®, and there are a few reasons you should consider getting one of these. With this card you will be earning points that can be used for free flights and hotel stays… Read on for all the details…
Highlights
- 20,000 online bonus points offer (worth $200)
- Ability to redeem points for most travel purchases, from taxi fare to zoo admission and airline tickets
- 0% intro APR for purchases in the first year, after which APR goes to 15.24% – 23.24%
- Additional bonus for Bank of America customers
- No foreign transaction fees
- No annual fee
How It Works
Points: Earn 1.5 points for each dollar spent; or earn three points per dollar spent on purchases through the Bank of America Travel Center (excluding insurance purchases). You can redeem at least 2,500 points for statement credit toward a wide variety of travel purchases such as flights, hotels, cruises, campgrounds, tourist attractions, and baggage fees for up to 12 months after the purchase. There is no limit to the number of points you can earn.
Sign up bonus: Get 20,000 online bonus points after making $1,000 in purchases within the first 90 days, which can be redeemed for $200 statement credit toward travel purchases.
Bonus for Bank of America customers: 10% points bonus on every purchase when you have an active Bank of America® checking or savings account. And if you’re a Preferred Rewards client, you can increase that points bonus to 25%-75%.
No annual fee: All those travel benefits are (almost) free.
No foreign transaction fees: Which seems obvious for a card that’s catered towards travelers.
APR: The card offers a 0% introductory APR for purchases for the first 12 billing cycles. After that, the APR goes to anywhere between 15.24% and 23.24% based on your creditworthiness.
ShopSafe: Customers can get a temporary credit card number, expiration date, and security code for shopping online without using their actual credit card information.
Costs
- $0 Annual Fee
- 0% Intro APR for purchases for the first 12 billing cycles (then 15.24%-23.24% variable APR)
- 3% Balance Transfer Fee (minimum $10)
- $0 Foreign Transaction Fee
At Bank of America’s secure website
Pros
- Sign-up bonus worth $200 in travel (20,000 points) – you have to spend at least $1,000 in purchases with the card within the first 90 days of opening the account to receive this bonus.
- Redeem for any travel purchase – which is unlike some other travel rewards cards that specialize in a certain airline or hotel brand.
- Customer bonus – get an additional 10% points bonus on every purchase when you have an active Bank of America® checking or savings account. That percentage goes up to 25%-75% if you’re a Preferred Rewards client.
- No foreign transaction fee is one of the key features of this card – you want to use it while traveling abroad.
- No annual fees – considering all the perks that’s everything but given.
Cons
- Rewards rate could be better – we are not that impressed with 1.5 points per dollar spent.
- After the introductory period, APR is rather high so you’re better off paying your debt in full and on time. This, unfortunately, is the case with most travel cards.
Is This The Card For You?
If you already have a Bank of America account – go for it. You will benefit from an additional bonus that is available only to existing clients. Otherwise, you may be better off getting the Chase Sapphire Preferred® Card. That being said, we don’t want to bash the BankAmericard Travel Rewards® — it is a solid product; it’s just that we find there are better options out there.
