Card Review 2024" width="408" height="230" />Kelly-Ann Franklin has spent more than two decades in journalism which has helped her build a wide knowledge base of business and personal finance topics. Her goal with editing is to ensure tough topics are distilled down to understandable and relata.
Kelly-Ann Franklin Updates EditorKelly-Ann Franklin has spent more than two decades in journalism which has helped her build a wide knowledge base of business and personal finance topics. Her goal with editing is to ensure tough topics are distilled down to understandable and relata.
Written By Kelly-Ann Franklin Updates EditorKelly-Ann Franklin has spent more than two decades in journalism which has helped her build a wide knowledge base of business and personal finance topics. Her goal with editing is to ensure tough topics are distilled down to understandable and relata.
Kelly-Ann Franklin Updates EditorKelly-Ann Franklin has spent more than two decades in journalism which has helped her build a wide knowledge base of business and personal finance topics. Her goal with editing is to ensure tough topics are distilled down to understandable and relata.
Updates Editor Dylan Pearl Credit Cards EditorOver a decade of editorial experience across a number of publications and more than 60 countries visited have given Dylan Pearl a wealth of travel knowledge, and the tools to effectively communicate that knowledge to others. Dylan has made it his mis.
Dylan Pearl Credit Cards EditorOver a decade of editorial experience across a number of publications and more than 60 countries visited have given Dylan Pearl a wealth of travel knowledge, and the tools to effectively communicate that knowledge to others. Dylan has made it his mis.
Dylan Pearl Credit Cards EditorOver a decade of editorial experience across a number of publications and more than 60 countries visited have given Dylan Pearl a wealth of travel knowledge, and the tools to effectively communicate that knowledge to others. Dylan has made it his mis.
Dylan Pearl Credit Cards EditorOver a decade of editorial experience across a number of publications and more than 60 countries visited have given Dylan Pearl a wealth of travel knowledge, and the tools to effectively communicate that knowledge to others. Dylan has made it his mis.
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Updated: Sep 3, 2024, 7:00am
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The Bank of America® Travel Rewards credit card may appeal to occasional travelers who want a no annual fee credit card with a simple rewards system. Overall, the card is a just-average travel rewards card without many of the enticing perks offered by other popular travel credit cards. Yet it offers a compelling option for members of Bank of America’s Preferred Rewards program who have enough in the bank to reach the bonused earning tiers.
Bank of America® Travel Rewards credit card On Bank of America's WebsiteOur ratings take into account the card’s rewards, fees, rates along with the card’s category. All ratings are determined solely by our editorial team.
Welcome Bonus 25,000 points Annual Fee Regular APR 19.24% - 29.24% Variable APR on purchases and balance transfers Credit Score Good/ExcellentCredit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
25,000 online bonus points after making at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
60,000 online bonus points – a $600 value – after you make at least $4,000 in purchases in the first 90 days of account opening
Bilt World Elite Mastercard® Welcome Bonus Annual Fee Credit Score Good/Excellent Regular APRCredit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Chase Freedom Unlimited® On Chase Bank USA, NA's Website Welcome Bonus Up to $300 cash back Annual Fee Credit Score Excellent, Good Regular APR 20.49% - 29.24% VariableCredit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases.
We love credit cards, but we don’t love how confusing some reward structures can be. The Bank of America® Travel Rewards credit card simplifies the travel rewards space by earning 1.5 points per dollar on all purchases. While this isn’t the highest earning on a flat-rate rewards credit card, members of Bank of America’s Preferred Rewards program can get a significant boost of 25% to 75% more points per dollar spent, depending on their Preferred Member tier.
This isn’t a card for luxury travelers. Bank of America’s take on travel rewards doesn’t include the posh perks other travel cards have. That doesn’t mean, however, that the card is completely devoid of travel benefits. As a Visa Signature card, it offers a few perks to get excited about, including concierge services and access to the Visa Signature Hotel Collection.
The Bank of America® Travel Rewards credit card is best for earning unlimited travel rewards. With no bonus categories to track, the card is an excellent fit for someone who values simplicity over complicated earnings programs. Here are two of our best credit card lists that feature the Bank of America® Travel Rewards credit card:
The Bank of America® Travel Rewards credit card earns 1.5 points per dollar on all purchases.
Bank of America Preferred Rewards members earn a 25% to 75% bonus on all points earned, depending on program qualification level. The entry level of the program requires a balance of $20,000 or more in eligible Bank of America or Merrill accounts, with the highest tiers requiring a balance of at least $100,000.
The Bank of America Travel Rewards card offers a welcome bonus that allows eligible new cardholders to earn 25,000 online bonus points after spending $1,000 in purchases in the first 90 days of account opening.
Points earned through the Bank of America® Travel Rewards credit card can be redeemed for statement credits to pay for flights, hotels, vacation packages, cruises, rental cars, baggage fees and restaurants including takeout. Each point is worth 1 cent when redeemed this way.
Other ways to redeem rewards include for gift cards and cash back, but these redemptions have lower rates. Each point redeemed for cash is worth 0.6 of a cent (2,500 points = $15). Gift card redemptions vary in value per point.
To determine the reward potential of a credit card, we look at its reward categories and calculate what an average household might spend in those areas. Forbes Advisor uses data from various government agencies to determine baseline income and spending averages across various categories. The 70th percentile of wage-earning households brings in $118,438 annually and has $39,337 in annual expenses that can reasonably be charged to credit cards. We base our calculations on these numbers.
Bank of America® Travel Rewards credit card Rewards Potential
All Purchases 59,005.5 points Total: $590.06 in statement credits See More See LessMembers of the Bank of America Preferred Rewards program can do even better.
The Bank of America® Travel Rewards credit card comes with a 0% introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days, followed by a 19.24% - 29.24% variable APR on purchases and balance transfers. A 3% fee applies to all balance transfers made in the first 60 days, then 4%.
A good credit score will go a long way to being approved for any credit card, including the Bank of America® Travel Rewards credit card. Lenders and banks often use the FICO scoring model to make credit decisions. Scores fall within a range of 300 to 850. A good score is between 670 and 739.
Another option for those looking for a no annual fee travel rewards card with a simple earnings structure is the Capital One VentureOne Rewards Credit Card (rates & fees). It earns 5 miles per dollar on hotels and rental cars booked through Capital One Travel and 1.25 miles per dollar on every other purchase—not quite as much as the standard earn rate on the Bank of America® Travel Rewards credit card. However, the VentureOne card offers the ability to transfer miles to multiple Capital One partners at a potential increase in value.
The Chase Freedom Flex® is a Forbes Advisor top pick for cash-back credit cards and no annual fee credit cards, and with good reason. It offers 5% cash back on up to $1,500 in combined purchases in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases. Many will come out ahead with this rewards scheme compared to the Bank of America® Travel Rewards credit card.
For those who have a premium Chase Ultimate Rewards®-earning card like the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, the rewards earned through the Chase Freedom Flex can be pooled or transferred to Chase’s airline and hotel transfer partners.
The Bank of America® Premium Rewards® credit card is the bigger sibling with a $95 annual fee. It offers 2 points per dollar on travel and dining purchases and 1.5 points per dollar on all other purchases. Considering the bonus categories alone, cardholders would need to spend $4,750 on travel and dining to break even with 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, it’s easy to come out ahead of the annual fee. However, those unsure if they can maximize these benefits will likely be better served by the Travel Rewards card with no annual fee.
No single credit card is the best option for every family, every purchase or every budget. We've picked the best credit cards in a way designed to be the most helpful to the widest variety of readers.
The Bank of America® Travel Rewards credit card is likely best suited for occasional travelers who aren’t looking for luxury travel perks. The simple rewards system—1.5 points per dollar on all purchases—makes this a rewards card that eliminates headaches over figuring out the best ways to maximize spending. This card doesn’t offer many enticing additional benefits, so consumers who want to dedicate rewards strictly to travel might consider this card.
When deciding which travel rewards credit card to apply for, consider where you spend most of your money. Several travel rewards cards earn rewards on dining, groceries and gas purchases, which can really add up when you’re collecting points for a trip.
Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including:
Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors come together to provide a star rating for each individual card.
To learn more about our rating and review methodology and editorial process, check out our guide on how Forbes Advisor rates credit cards .
The Bank of America® Travel Rewards credit card earns 1.5 points per dollar on all purchases. Points can be redeemed as statement credits toward travel purchases such as flights, hotels, vacation packages, cruises, rental cars and baggage fees, dining purchases, cash back and gift cards.
Points earned with the Bank of America® Travel Rewards credit card don’t expire if your account remains open with active charging privileges. Points may be forfeited if the account is closed for any reason.
Point values vary depending on how you use them. Points redeemed for travel and dining purchases are worth 1 cent each. You can begin redeeming points when you have at least 2,500. Those 2,500 are worth $25 when redeemed for travel or dining. Cash-back redemption is worth 0.006 cents, so 2,500 points would be worth $15.
Credit card issuers consider more than just your credit score, and no score guarantees approval. Aim for a good credit score between 670 and 739 to qualify for the Bank of America® Travel Rewards credit card.
The Travel Rewards card doesn’t come with travel insurance, but as a Visa Signature card, it does have access to concierge services and the Visa Signature Hotel Collection.
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Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
Updates EditorKelly-Ann Franklin has spent more than two decades in journalism which has helped her build a wide knowledge base of business and personal finance topics. Her goal with editing is to ensure tough topics are distilled down to understandable and relatable pieces of information for readers of every type. She began her career as a freelance sports writer before moving into features, lifestyle and entertainment and then on into general news.
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