Bank of America Travel Rewards Credit Card Review
Key Takeaways
The Bank of America Travel Rewards card offers a simple rewards structure where you can redeem points for statement credits on travel purchases. While this simplicity might appeal to beginners, we recommend that newcomers to the points and miles hobby instead choose cards with larger welcome offers and premium benefits like TSA PreCheck and lounge access. Though the quick 25,000 point welcome offer after spending $1,000 may seem attractive, many other cards offer significantly more value. You may regret choosing this card as you become more experienced, especially considering the limited number of new cards you can apply for under Chase's 5/24 rule.
Why This Card Could Be Right For You
The Bank of America Travel Rewards card is an excellent entry point for those new to the rewards credit card world, combining simplicity with flexibility:
- Simple earning structure: Earn a flat 1.5 points per dollar on all purchases with no spending categories to track and no earning caps
- Attainable welcome bonus: New cardholders receive 25,000 bonus points after spending just $1,000 in the first 90 days — a reasonable spending requirement compared to premium cards
- No annual fee: Keep this card long-term without worrying about justifying an annual cost through benefits usage
The redemption process offers remarkable flexibility that many competitors can't match. You can book travel however you prefer — directly with airlines, hotels, or through discount travel sites — then use your points to erase those purchases from your statement (minimum redemption: 2,500 points).
For Bank of America customers, this card becomes even more valuable. By joining the Bank of America Preferred Rewards program (requiring a personal checking account and $20,000+ in combined balances), you can boost your earnings significantly:
- Gold tier ($20,000-$50,000 in balances): 25% bonus increases earnings to 1.875 points per dollar
- Platinum tier ($50,000-$100,000): 50% bonus increases earnings to 2.25 points per dollar
- Platinum Honors/Diamond tiers ($100,000+): 75% bonus increases earnings to an impressive 2.625 points per dollar
This elevated earning rate for Bank of America's most loyal customers makes the card particularly compelling if you already bank with them or maintain significant assets through Merrill investment accounts.
When The Usual Advice Doesn't Apply
Situations where this card might not be ideal for you:
- We actually recommend beginners choose popular points and miles cards that provide greater value (such as one of the Chase Sapphire cards or a Capital One Venture card)
- You prefer cards allowing point transfers to airline and hotel partners to get more value than the 1 cent per point offered by this card
How The Bank of America Travel Rewards Credit Card Fits In The Cash in Cents Ecosystem
Bank of America offers a tiered approach to travel rewards cards, with the no-annual-fee Travel Rewards serving as the entry-level option. Here's how the Bank of America travel card lineup compares:
- Bank of America Travel Rewards (No annual fee)
- 25,000 point welcome offer after spending $1,000 in 90 days
- 1.5 points per dollar on all purchases
- Simple redemption for travel and dining purchases at 1 cent per point
- Bank of America Premium Rewards ($95 annual fee)
- 60,000 point welcome offer after spending $4,000 in 90 days
- 2 points per dollar on travel and dining; 1.5 points on everything else
- $100 Airline Incidental Statement Credits
- $100 TSA PreCheck/Global Entry credit
- Bank of America Premium Rewards Elite ($550 annual fee)
- 75,000 point welcome offer after spending $5,000 in 90 days
- 2 points per dollar on travel and dining; 1.5 points on everything else
- Total of $550 in statement credits ($300 incidental, $100 TSA PreCheck/Global Entry, $150 lifestyle)
- 20% discount when using points for airfare
- Up to four Priority Pass Select Memberships
All three cards integrate with Bank of America's Preferred Rewards program, which can boost earning rates by 25-75% depending on your tier level. Redemption options across all cards include statement credits, cash back, deposits to Merrill investment accounts (including 529 college savings plans), or travel bookings through the Bank of America Travel portal.
For most travelers, the Premium Rewards card offers the best balance of benefits and cost, with easily attainable credits that offset the annual fee. However, those with significant Bank of America balances might find even the basic Travel Rewards card compelling due to the potential earning boost from Preferred Rewards status.
Card Information
| Bonus Points | Minimum Spend | Point Value | Annual Value | Annual Fee |
1st Year Value
|
|---|---|---|---|---|---|
| 25,000 | $1,000 | 1.0 ¢ | $0 | $0 |
$260
|
| Best Value | Differentiating Perks | Rules |
|---|---|---|
| Statement credit toward travel purchases | No annual fee and no foreign transaction fees | No 5/24 |
Spend Categories
1.5X points
1.5¢ Per Dollar Spent
1.5X points
1.5¢ Per Dollar Spent
1.5X points
1.5¢ Per Dollar Spent
1.5X points
1.5¢ Per Dollar Spent
1.5X points
1.5¢ Per Dollar Spent
1.5X points
1.5¢ Per Dollar Spent
1.5X points
1.5¢ Per Dollar Spent
1.5X points
1.5¢ Per Dollar Spent
Card Benefits
You will pay no foreign transaction fees when you use your card for purchases made outside the United States.
Point Transfer Options
Transfer To Spouse/Partner Yes
Transfer To Friends Yes
Travel Partner Transfers
Outside Point System Cash in Cents
Transfers In From
1:1 71% value retained
1:1 100% value retained
1:1 91% value retained
1:1 63% value retained
1:1 91% value retained
1:1 71% value retained
Bank of America Travel Rewards Application Rules
Card approval not subject to 5-personal-cards-in-24-months rule
