Bank Of America Travel Rewards

You may have come across the “Bank Of America Travel Rewards” before now. Well, we shall discuss all about it in this article. Also, we shall discuss some subtopics like: Introduction To The Bank Of America Travel Rewards Credit Card, Bank Of America Travel Rewards Credit Card Basics, Bank Of America Travel Rewards Credit Card Rewards, Bank Of America Travel Rewards Credit Card Rewards Potential, etc

Introduction To The Bank Of America Travel Rewards Credit Card

Amongst the no-annual-fee travel credit cards, the Bank Of America Travel Rewards credit card stands as the bedrock. For every purchase you make with this card, it gives a complete 1.5 points per dollar on that purchase. Meanwhile, it is only the devoted and consistent customers of the Bank of America, that can get up to 2.62 points per dollar on each purchase. It becomes more interesting when you make use of your credit card to book are trip through the Bank of America Travel Center. By doing this, you are eligible to get a reward from the Bank of America.

There is no annual fee for this card and it has reflected on the low effect on travel benefits. However, as a new customer, you are entitled to a 25,000 bonus points upon spending $1,000 in the first 90 days. For those that may need an introductory 0% APR promotion, this card covers for it. It does this with a 0% intro APR for 18 billing cycles for both purchases and balance transfers. After, a 18.49% to 28.49% variable APR comes into the picture.

If you are one who doesn’t like an annual fee, then this card will be very beneficial to you. Also, for every purchase you make, you take full profit of it. Nevertheless, there are better cards that offer better travel rewards regardless of the annual fee charges.

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Bank Of America Travel Rewards Credit Card Basics

Annual fee: $0.
Welcome bonus: Starters are qualified to earn up to 25,000 bonus points upon spending $1,000 in the first 90 days.
Rewards: For every purchase you make, you earn 1.5 points per dollar. Also, you still have the opportunity to obtain 25% to 75% bonus points as a Bank of America Preferred Rewards customer. In addition, you will still earn 1.5 points per dollar on Bank of America Travel Center purchases.
Intro APR: There is a 0% intro APR for 18 billing cycles on purchases in addition to balance transfers that occurred within 60 days of you opening an account.
Regular APR: 18.49% to 28.49% variable.
Balance transfer fee: 3% of the transfer amount, with a $10 minimum.
Pre-approval tool: Yes.
Recommended credit score: Good to excellent.

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Bank Of America Travel Rewards Credit Card Rewards

For every purchase you make with this card, it gives a complete 1.5 points per dollar on that purchase. Meanwhile, there is a 3 points per dollar on your purchase if you use your card to book travel through the Bank of America Travel Center. That means, you earned an additional 1.5 points per dollar.

On the other hand, if you are on the Bank of America Preferred Rewards program, then you can earns 25%, 50% or 75% more points per purchase off the card. However, there are requirements for enjoying this privilege. You must have a three-month combined average daily balance of at least $20,000 in eligible Bank of America deposit accounts or Merrill investment accounts.

In addition, you can also obtain from 1.87 to 2.62 points per dollar on majority of your purchases. But, this is determined by the Preferred Rewards tier you qualify for. It is important to know that, the card’s welcome offer doesn’t include this offer. The card’s welcome offer gives 25,000 bonus points on your initial $1,000 purchase within 90 days. Apparently, those points are equivalent to $250 in travel and dining statement credits.

If you are wondering how you can claim your rewards, it is quite simple. All you need to do is to make use of your card to pay for eligible travel or dining purchases. After that, you proceed to collect your statement credit with your points within 12 months of the transaction date. On the other hand, there is a possibility of you redeeming your cash or gift cards. The only factor there is that, you will get a 0.6 cents per point with cash redemptions. Due to the inconsistency in gift card redemption values, it is advisable to only use travel and dining statement credits.

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Bank Of America Travel Rewards Credit Card Rewards Potential

A general guide gotten from government data and other public source shows that, a U.S family with the Bank of America Travel Rewards credit card will earn up to $84,352 yearly. Also, they will incur up to $25,087 in expenses. On the other hand, you can earn up to $376.31 worth of points annually on the condition that you earn the base rate of 1.5 points per dollar spent. Then, you can earn the privilege of being a Bank of America Preferred Rewards customer by earning up to $657.28 in value.

Bank Of America Travel Rewards Credit Card APR Details

If you just got your card, there is an 0% APR on purchases and balance transfers which will last for 18 billing cycles. Those that enjoy this benefit are those with travel credit cards. The length of time it will take before it elapses, makes it worthwhile. After this phase, then the card charges a variable APR ranging from 18.49% – 28.49%. However, the card’s credit state will determine the charge range.

If you wish to have balance transfers, you must ensure that you finish up your request without exceeding 60 days of you creating the account. Also, the bank will assign a 3% balance transfer fee which is equivalent to a minimum of $10 to your balance.

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Bank Of America Travel Rewards Credit Card Advantages

Visa Signature Benefits: If you have the Visa Signature credit card, there are some insurance benefits you will enjoy. They include the secondary auto rental collision damage waiver, trip cancellation and interruption insurance and trio delay insurance. Others include; lost luggage reimbursement, access to roadside dispatch, extended warranty and referrals to travel and emergency assistance when traveling.
FICO Score Access: When you enroll, you can easily determine your FICO Score and know the key factors that are affect your score for free.
Digital Wallet Compatible: With the Bank of America Travel Rewards credit card, you will easily make fast and safe point-of-sale transactions. All you need to do is to add your card to Apple Pay, Google Pay or Samsung Pay.

Bank Of America Travel Rewards Credit Card Disadvantages

No Notable Travel Benefits: This card doesn’t not cover for full-time travel protection, airport lounge access or reimbursement for the Global Entry application fee.
Absence Of Daily Bonus Categories: The only bonus you can get from this card is the extra points you get from booking a travel through Bank of America. It doesn’t offer any other bonus categories.
Difficulty In Maximizing Rewards: If you want to obtain the maximum reward, then you’ll need a three-month combined average daily balance of at least $100,000. This will be in an eligible Bank of America deposit accounts or Merrill investment accounts.

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Other Travel Credit Cards

There are other travel credit cards that are obtainable. We shall compare them to the Bank of America Travel Rewards credit card.

Bank Of America Travel Rewards Credit Card Vs. Discover it® Miles

The Discover it® Miles offer a big bonus to those who make massive purchases. This particular card works in a unique way. It offers 1.5 miles per dollar spent, and connect all the miles you earned during the first year. While doing this, it doesn’t give a limit to the amount of miles you can obtain.

Meanwhile, you can easily obtain miles as a statement credit for travel purchases. But you must make it atleast 180 days they post. If you do this, you will be able to get a cash back to a bank account. Alternatively, it will enable you to purchase items online via Amazon.com and through PayPal.

However, note that the Discover it® Miles card lacks the annual fee and foreign transaction fee. Consequently, not many countries permit the use of this card.

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Bank Of America Travel Rewards Credit Card Vs. Capital One Venture Rewards Credit Card

Here, the Capital One Venture Rewards Credit Card has an annual fee of $95 and also give out handsome rewards. If you just obtained the credit card, you are eligible to get up to 75,000 bonus miles as you make $4,000 on expenses for the initial three months. Meanwhile, for those who book hotels and rent cars with their card will obtain 5 miles per dollar and 2 miles per dollar on all other purchases.

Meanwhile, you can easily obtain miles as a statement credit for travel purchases and use them to settle Capital One Travel bookings. Lastly, you’ll get an application fee credit toward Global Entry or TSA PreCheck, two free annual visits to Capital One Lounges or Plaza Premium Lounges, Hertz Five Star status, bonus miles on Turo car rentals and more.

Bank Of America Travel Rewards Credit Card Vs. Chase Sapphire Preferred® Card

If you open the Chase Sapphire Preferred account and use the card to make a purchase worth $4,000 within three months, you will get a 60,000 bonus point. Also, if you pay for a travel using the card, you’ll earn 5 points per dollar. Then, if you make any purchase on dining, delivery services, online grocery streaming services, you will get 3 points per dollar. Furthermore, you will get 2 points per dollar on other travel purchases and 1 point per dollar on other purchases.

There is no standard value for a point, but each point have a value of 1 cent each. You can explore various redemption options such as cash back, statement credits, gift cards, Apple purchases and online shopping. Furthermore, they serve as a tool for paying for a trip via Chase and receive 25% more value per point. Alternatively, you na send your points at a 1:1 rate to airline and hotel loyalty programs.

If you have this card, you will have a $50 annual statement credit. You can enjoy this when staying in a hotel that is paid for via Chase or Lyft, Instacart, DoorDash and Gopuff. In addition, having this Sapphire Preferred Card gives you various traveling advantages. They include: trip cancellation and interruption insurance, trip delay reimbursement, baggage delay reimbursement and primary rental car insurance.

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Should I Obtain The Bank Of America Travel Rewards Credit Card?

Yes, you should. Being a member of a Bank of America Preferred Rewards enables you to enjoy a lot of benefits from their Travel Rewards credit card. You will gain a lot of bonus points by making daily purchases, mostly if you make it to the maximum 75% bonus. By so doing, you can gain at least 2.62 points per dollar spent.

However, there are other travel cards with better benefits that you can try out. The Chase Sapphire Preferred Card is highly recommended. Those who are not Preferred Rewards customer, can still enjoy travel rewards with the Bank of America travel card.

Summary Of The Bank of America Travel Rewards Credit Card

Annual Fee – $0
Rewards – Earn 3 points per dollar on Bank of America Travel Center purchases and 1.5 points per dollar on all other purchases. Also, earn up to 75% more points as a Bank of America Preferred Rewards customer.
APR – 0% intro APR for 18 billing cycles on purchases and on balance transfers completed within 60 days from account opening, 18.49% to 28.49% after that.
Balance Transfer Fee – 3% of the transfer amount with a $10 minimum.
Foreign Transaction Fee – None.

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FAQs

How Do I Redeem My Bank Of America Travel Rewards?

To do this, simply sign in to your Online Banking account at bankofamerica.com. Then click on your account, click on “Rewards,” and click “Redeem Points”. Alternatively, you can call 888.268. 7800.

What Is The Travel Rewards For Bank Of America?

For every purchase you make, you earn 1.5 points per dollar. Also, you still have the opportunity to obtain 25% to 75% bonus points as a Bank of America Preferred Rewards customer. In addition, you will still earn 1.5 points per dollar on Bank of America Travel Center purchases.

How Much Is 25000 Bank Of America Travel Points Worth?

A 25,000 Bank of America Travel points worth a $250 value.

Is It Possible For One To Use The Bank Of America Points To Book A Trip?

Yes, it is. There are other various benefits you can use the points for: redeeming your points for cash, statement credits, gift cards or travel-related purchases.

What Credit Score Is Required For The Bank Of America Travel Rewards Card?

Only customers with good credit score can obtain the card. However, based on the details of FICO, the required credit score of 670 and above.