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Bank of America® Travel Rewards credit card Review

Bank of America® Travel Rewards credit card
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Bank of America® Travel Rewards credit card
Bank of America® Travel Rewards credit card
Kale Havervold
Jan. 18, 2024
3 min read
Kale Havervold
Bank of America® Travel Rewards credit card Summary
Bank of America is currently one of the largest banks in the world and has total assets of over $3 trillion. The Bank of America® Travel Rewards Credit Card has no annual or foreign transaction fee and lets you earn 1.5 points for every $1 you spend. It’s a great choice for travelers and comes with generous introductory offers such as 0% intro APR and the potential for 25,000 bonus points.

Pros

  • No annual or foreign transaction fee
  • Generous intro APR and welcome bonus

Cons

  • No bonus categories to increase rewards
  • Best rewards require a Preferred Rewards membership

Bank of America® Travel Rewards credit card at a glance

9.6
Editorial score

Fees

No annual fee
10.0

APR

18.24%-28.24% variable
10.0

Security

FDIC insured, SSL encryption, supports both two-factor and biometric authentication.
10.0

Customer service

Customer service available seven days a week through phone, social media, live chat, and email.
9.0

Online experience

Good online experience, complete with FAQs and a help center
9.0

Bank of America® Travel Rewards credit card Bank of America® Travel Rewards credit card Visit Site

Overview

Founded in 1998 but with a history that dates back to 1784, Bank of America is among the most well-known banks in the world. It has tens of millions of customers, over 200,000 employees, and just shy of 4,000 branches. The company has won dozens of awards from a variety of organizations over the years.

The Bank of America® Travel Rewards Credit Card provides 1.5 points for every $1 you spend on anything, and the points never expire. It has no annual or foreign transaction fee and a 0% intro APR for your initial 15 billing cycles.

Suitable For?

This card is best for those who want to earn travel rewards points every time they make a purchase without paying an annual or foreign transaction fee. People who travel and frequently take flights, stay in hotels, rent cars, and dine out will appreciate the card's benefits.

Interest Rates and Fees 

The Bank of America® Travel Rewards Credit Card features no annual fee and doesn’t charge a foreign transaction fee. There’s an intro APR of 0% for your initial 15 billing cycles. When the intro APR is over, the interest rate for purchases is 18.24%-28.24% variable

, and for cash advances, it’s 21.24% - 29.24%.


Annual fee

Interest rate

Late payment penalty fee

Balance transfer fee

Cash advance interest rate

$0

18.24%-28.24% variable

Up to $40

3%

21.24% - 29.24%

Rewards and Cash Back

The Bank of America® Travel Rewards Credit Card gets you 1.5 points for every $1 you spend. There are no limits to the points you can earn, and they’re earned on every purchase. Each point is the equivalent of $0.01.

There’s also a 25,000 points bonus if you spend $1,000 in the initial 90 days of opening your account.

Bank of America Preferred Rewards members can earn even more points (an additional 25% - 75%) based on their tier. This means instead of getting 1.5 points, members earn 1.87 - 2.62 points for every dollar spent.

To become a member, you must have a certain average daily balance within your deposit and/or investment accounts with the company. Here is a breakdown of the different tiers, along with how many more points they earn:

  • Gold tier members need $20,000 to $50,000 and earn 25% more points

  • Platinum tier members need $50,000 to $100,000 and earn 50% more points

  • Platinum Honors tier members need $100,000 to $1,000,000 and earn 75% more points

  • Diamond tier members need $1,000,000 to $10,000,000 and earn 75% more points

The Application Process

Applying for a Bank of America credit card online is quick and easy. It only takes a few minutes to fill out the form, and it asks for your:

  • Name

  • Email

  • Address

  • Phone number

  • Social security number

  • Date of birth

  • Employment and income details


Using the information you provide and a credit check, Bank of America will approve or deny your application. If your application is approved, you’ll receive your card within 10 business days.

Bank of America® Travel Rewards credit card Bank of America® Travel Rewards credit card Visit Site

Help and Support

Customer support is offered over the phone, via email, live chat, or social media platforms like Facebook and Twitter/X. Getting assistance is easy, and plenty of helpful FAQs and an extensive help center are available online.

While assistance for lost and stolen credit cards is available around the clock, generally, the customer service hours for Bank of America are as follows:

  • Mon-Fri, 8 a.m.-9 p.m. ET

  • Saturday, 8 a.m.-8 p.m. ET

  • Sunday, 8 a.m.-5 p.m. ET

Security

Bank of America has several security measures in place to keep customers safe. The website uses SSL encryption, and the company allows for the use of both two-factor and biometric authentication to protect accounts.

It has a detailed privacy policy, lets you control how your data is shared, and sets custom alerts that let you keep tabs on your account at all times.

The company also offers a $0 Liability Guarantee that ensures you aren’t charged for unauthorized and fraudulent transactions.

FAQs

What to do if a card is lost or stolen?

If your card is lost or stolen, report it to Bank of America online or call 800-732-9194. You won’t be responsible for fraudulent charges, and the company will immediately cancel your card and send a new one.

How soon can rewards points be redeemed?

Once you’ve accumulated 2,500 points (which is equivalent to $25), you’ll have the option to redeem your points.

Conclusion

The Bank of America® Travel Rewards has no annual fee, lets you earn 1.5 points for each dollar you spend, and features a generous welcome bonus and intro APR. It’s a great choice for travelers who want to save on everything from flights to hotels to rental cars.

Methodology

This review used information from the Bank of America website.

Kale Havervold
Written by
Kale Havervold
Kale Haverold is a freelance writer with over 5 years of experience crafting articles about credit cards, loans, debt, and a raft of other personal finance topics. His work has been featured on Top10.com, BestMoney, Yahoo, Hardbacon, and Loans Canada. Kale’s easy-to-digest, research-driven articles stem from his passion to share knowledge that helps readers make informed financial decisions.
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