Bank of America Travel Rewards Card

Snapshot

• Earn 1.5 in points for every dollar spent on any purchase
• Signup bonus
• $0 annual fee
• 0% APR for first 12 months on purchases
• Increase reward rate up to 75% with BofA Preferred Rewards

Editorial Review

The Bank of America® Travel Rewards Card allows card holders to earn an unlimited 1.5 in points for every dollar that you spend on all purchases. Card holders can enjoy earning more rewards with this card, as well as the cards no annual fee, and sign-up bonus.

Pros & Cons

Pros

• Earn unlimited 1.5 in points for every dollar spent on any purchase
• Signup bonus worth $250
• $0 annual fee
• 0% APR for first 12 months
• Preferred Rewards

Cons

• Points are worth $0.01 only if redeemed for statement credit for travel or dining purchases
• Points redeemed for cash are worth just $0.006.

Rewards

The rewards are solid, but not best of class. The 1.5% reward rate applies only if points are redeemed for credit on travel or dining purchases. Redeem points for cash and the rate drops by 40% to 0.9% due to the $0.006 value per point BofA offers on cash redemptions. Most 1.5% credit cards do not have this limitation. On the plus side, Preferred Honors members can earn a 25% to 75% bonus.

Introductory Interest Rates

The [acf filed='credit_card_name'] offers 0% on purchases for [acf field='cc_0_p_period'] months. There is no 0% offer on balance transfers. For cards offering 1.5% reward rates, this 0% offer is below the top cards, which extend the intro rate to 15 months or more.

Features and Benefits

• $0 Liability Guarantee: Receive notifications about any fraudulent transactions
• Mobile Banking: Pay your credit card bill online as well as transfer funds, and more
• Account Alerts: Receive mobile alerts via text or email when payments become paid or are due
• FICO® Score Program: Free access to your credit score that is updated monthly
• Overdraft Protection: Prevent overdrafts, returned checks, or any declined purchases with this optional feature

Who the card is best for

The Bank of America® Travel Rewards Card is best for those who travel frequently and qualify for Bank of America’s Preferred Honors, which requires $100,000 held at Bank of America and/or Merrill Edge and a Bank of America checking account. For those who do not qualify for Platinum Honors or are not frequent travelers, there are better 1.5x cards.

Alternatives

The primary challenger is the Chase Freedom Unlimited® card. It pays a minimum of 1.5% on all purchases, and this rate goes as high as 5% for certain purchases. In addition, rewards can be redeemed for cash or used as Chase Ultimate Rewards. There are also other 1.5% cash back cards that may be better for many than the Bank of America® Travel Rewards Card.

Approval Odds

Credit card companies consider a number of factors when evaluating an application. These factors may include income, debt, existing credit cards and, of course, the applicant's credit score.

While credit card issuers do not publish the criteria for approval, we collect publicly available data on credit scores for those who have been either approved or denied for a credit card. Keep in mind that we cannot verify this information and an issuer's credit score requirements can change over time.

Approvals EX 765 (02-17-2021 myFICO) EX 728 (11-25-2018 myFICO) EX 715 (02-28-2019 myFICO) TU 787 (01-05-2021 myFICO) Denied EX 716 (02-10-2021 myFICO) EX 709 (04-24-2017 myFICO)