Bank of America® Travel Rewards credit card review: Flat-rate travel rewards with no annual fee
Great for Bank of America loyalists who travel occasionally.
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Snapshot
4.4
Bottom line
This no-annual-fee travel card is a flexible alternative to more complex travel rewards cards that may take more work to maximize. However, since you can’t transfer points to travel partners and there aren’t any travel-specific benefits, it can feel like a flat-rate cash back card with more red tape.
Intro offer
25,000 points
Rewards rate
1.5X
Annual fee
$0
Regular APR
18.24% - 28.24% Variable APR on purchases and balance transfers
4.1
Cardholder rating
Extra perks
Rewards value
Customer service
Information safe
4.4
Bankrate score
Rewards value
APR
Rewards flexibility
Features
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Bank of America® Travel Rewards credit card overview
The Bank of America Travel Rewards credit card is a decent flat-rate travel rewards card with no annual fee that may appeal to occasional travelers. You’ll earn a flat rewards rate not tied to any specific hotel or airline partners, so you won’t need to adjust your spending to fit into any particular category and can book your travel with any provider. Plus, Bank of America credit cards have a broader definition of travel than cards from other issuers.
However, this card lacks travel-specific features you might find on competing travel cards, and you can’t use rewards to book travel directly through an issuer portal or a transfer partner. This could be a dealbreaker since these redemption methods typically offer the best value.
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Rewards
- Unlimited 1.5X points on all purchases
Expert Appraisal: Typical
See our expert analysis -
Welcome offer
- 25,000 online bonus points ($250 statement credit value toward travel purchases) if you make $1,000 in purchases within 90 days of opening the account
Expert Appraisal: Typical
See our expert analysis -
Intro APR offer
- 0% Intro APR for 15 billing cycles for purchases for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, a 18.24% - 28.24% Variable APR on purchases and balance transfers will apply. There is an intro balance transfer fee of 3% for 60 days from account opening, then 4%
- 18.24% - 28.24% Variable APR on purchases and balance transfers
Expert Appraisal: Good
See our expert analysis -
Rates and fees
- No annual fee
- No foreign transaction fee
- 3 percent balance transfer fee (for the first 60 days your account is open; after the Intro balance transfer fee offer ends, the fee for future balance transfers is 4 percent)
Expert Appraisal: Typical
See our expert analysis -
Other cardholder perks
- Bank of America Preferred Rewards®
- BankAmeriDeals
- Museums On Us
- Visa Signature benefits
Expert Appraisal: Typical
See our expert analysis
Bank of America Travel Rewards credit card pros and cons
Pros
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The lengthy intro APR on purchases and balance transfers offers more room for managing debt than other rewards cards.
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As a Preferred Rewards member, you can boost your rewards rate by up to 75 percent, which could make it one of the most rewarding flat-rate travel cards with no annual fee.
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You can redeem points for a comprehensive list of travel and dining purchases — even if those purchases are nearly a year old.
Cons
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The minimum redemption of 2,500 points for travel or cash back (worth $25) is higher than other competing cards.
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The rewards rate is low if you aren’t a Preferred Rewards member.
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The limited travel benefits offer less travel convenience than other cards.
Why you might want the Bank of America Travel Rewards credit card
The Bank of America Travel Rewards Card offers a decent flat reward rate for every purchase. Not only that, you can pay down your purchases during an intro APR period that’s competitive with many dedicated low-interest cards.
Intro APR: Great length for purchases and balance transfers
Compared to competing reward cards with intro APRs, the Bank of America Travel Rewards card has a fairly lengthy offer that can provide you with more than enough time to pay down a transferred balance or big purchase during the first year. An APR offer on a rewards card can be a great way to worry less about upcoming purchases and potential interest charges while you whittle down your balance and strategize rewards earnings.
Rewards: Earn more with the Preferred Rewards program
The Bank of America Travel Rewards credit card allows you to earn unlimited 1.5X points on all purchases. However, the Bank of America Preferred Rewards® program gives the Travel Rewards card an edge over similar competing cards if you already have an eligible account with Bank of America or Merrill.
Depending on your status tier, you can earn 25 percent to 75 percent bonus points on every purchase. That means Platinum Honors Preferred Rewards members can earn up to 2.62X points on all purchases and up to 5.25X points on Travel Center purchases. Plus, you could receive other benefits like boosted interest rates on savings accounts and reduced interest rates on your home equity and auto loans.
Here are Bank of America’s Preferred Rewards status tiers:
- Gold (at least a $20,000 combined balance): 25 percent bonus rewards
- Platinum (at least a $50,000 combined balance): 50 percent bonus rewards
- Platinum Honors (at least a $100,000 combined balance): 75 percent bonus rewards
The Preferred Rewards program also offers a Diamond Tier status above the Platinum Honors Tier. This status carries the same 75 percent bonus rewards boost but is only available to account holders with a combined balance of $1 million to $10 million.
This boost results in a card with one of the best flat rewards rates available, especially for no annual fee. It could make the Travel Rewards card an exceptional deal since rival cards typically max out at 2X rewards on general spending and 5X rewards on comparable travel portal purchases through the issuer.
Redemption: Good options for a variety of travel and dining categories
You can redeem your points for gift cards, cash or a statement credit to cover travel-related purchases made within 12 months. This feature opens the door to exceptional deals you might not find with other travel reward programs, such as discounted bookings through external travel websites.
You can also redeem points for cash back as a check or direct deposit into an eligible Bank of America checking or savings account or Merrill Cash Management account, though there’s a 2,500-point redemption minimum for travel credits and cash and a 3,125-point minimum for gift cards.
One of the best features of the Bank of America Travel Rewards card’s travel credit redemption is that it covers categories that may not typically qualify as travel or dining. However, some travel or dining-related expenses, such as in-flight goods and services and duty-free airport purchases, aren’t eligible for statement credits.
Knowing which purchases qualify for credits can get confusing, so here’s a list of Bank of America Travel Rewards card categories eligible for travel credits:
- Airlines
- Hotels and motels
- Timeshares
- Trailer parks, motor homes and recreational vehicle rentals
- Campgrounds
- Car, truck, trailer and boat rentals
- Cruise lines
- Travel agencies, tour operators and real estate agents
- Transit including passenger trains, buses, taxis, limousines, ferries, parking lots and garages, tolls and bridge fees
- Tourist attractions and exhibits like art galleries, amusement parks, carnivals, circuses, aquariums, zoos
- Restaurants and eating places
- Fast food restaurants
- Bars
- Taverns
- Cocktail lounges
- Nightclubs
Why you might want a different travel card
Though the Bank of America Travel Rewards Card has plenty of perks, it has some drawbacks compared to competitors. Its rewards have a lower cash back redemption value and it lacks the ability to transfer points to hotel or airline partners.
Flexibility: Low redemption value with no transfer power
This card offers a solid rewards rate on your purchases, whether you’re traveling or at home — but these these travel rewards work differently than typical bonus miles. Instead of using rewards to book travel, you can redeem Bank of America travel rewards as statement credits on travel or dining purchases, making this card function more like a cash back credit card.
Bank of America Travel Rewards points offer a maximum value of 1.0 cents per point. According to Bankrate’s point valuations, several issuers’ points or miles can be worth around 2 cents each on average with the right transfer partner. When you redeem for travel, they're worth 1 cent each — so 25,000 points equals $250 in statement credit. But redeeming your rewards for anything else is a value loss.
If you redeem for gift cards, the value of your points will vary by retailer, leading to inconsistent value. And when you redeem for cash, your points are only worth 0.6 cents each (or $150 for every 25,000 points).
Welcome offer: Decent value compared to similar cards
The Bank of America Travel Rewards card’s 25,000-point welcome offer can be worth about $250 in statement credits toward travel, a generous offer for a card with no annual fee.
A $250 value is slightly higher than what you’ll find with other no-annual-fee cards, but some competing cards only require a $500 spend to earn a $200 bonus. You have to spend double with the Bank of America Travel Rewards card to earn an extra $50 in rewards.
The Bank of America Travel Rewards card doesn’t have an annual fee, so you won’t be eating into your reward earnings and its intro APR can give you a windfall if you chase the spending requirement with increased spending. But other cards with no annual fees also have intro APR offers and more accessible welcome offers.
Perks: Doesn’t quite stand out compared to other travel cards
The Bank of America Travel Rewards card isn’t as robust in perks as other travel credit cards. Along with basic features like free access to your credit score, overdraft protection and account alerts, it has just a few extra benefits outside the Preferred Rewards program that might be helpful during your travels, such as:
- BankAmeriDeals: Bank of America cardholders have exclusive access to BankAmeriDeals, the issuer’s version of card-linked limited-time offer programs like Amex Offers or Chase Offers. You can log into your account and usually earn anywhere from 5 percent to 50 percent extra cash back (up to a certain limit) or a sum of cash back (usually $4 to $35) for spending a certain amount at participating restaurants and other merchants after activating the respective offer. BankAmeriDeals won’t rake in big bucks, but the “coins” you earn for regularly using the program can help you access upgraded deals.
- Visa Signature benefits: As a Visa credit card, your Bank of America Travel Rewards card grants access to a portfolio of Visa Signature perks that can be useful while traveling. Contact your issuer to determine the specific features your card offers. You can expect standard benefits like extended warranty protection, Visa Signature® Concierge services, Roadside Dispatch®, lost luggage reimbursement and travel and emergency assistance. However, you’ll want to contact Bank of America to determine the specific features your card offers.
- Museums On Us: If you love planning day trips to popular museums, this benefit is an underrated gem. During the first weekend of each month, simply present your Bank of America debit or credit card and a valid photo ID to grant you free admission to over 225 cultural institutions during the first weekend of each month.
However, in the travel card landscape, these features aren't particularly competitive. Many of the more popular travel cards offer airport perks such as TSA PreCheck or Global Entry credits, in-flight or airline credit, airport lounge access, free checked bag(s), rental car assistance and more. You’ll normally have to pay an annual fee for these types of travel cards, but these card perks typically offer enough value to offset the cost of that annual fee.
Staff experience: Here's what our experts say
Bankrate writer Brendan Dyer likes to redeem his credit card points toward travel, but since he doesn't typically spend much on travel, he's found some of the best travel and airline rewards cards to be a poor fit. After all, many of these cards offer their highest rewards rates on purchases with airlines and hotels and only get you 1X points on general purchases.
A flat-rate rewards card like the Bank of America Travel Rewards credit card strikes him as a solid option, however, since it earns 1.5X points on all purchases — not just travel. That's 50 percent higher than you'll earn on general purchases with most travel cards.
Since I only take two or three trips each year, my travel spending doesn't come close to my everyday spending. I can't rely on travel purchases as my primary method of earning points, miles or cash back — I earn a lot more from groceries, restaurants, gas and the like.
If you're like me and only travel occasionally, a flat-rate rewards card like this can be a great option. These cards earn points at the same flat rate on all purchases, making it easy to earn rewards toward travel without actually spending a ton on travel.
— Brendan Dyer, Writer, Credit Cards
How the Bank of America Travel Rewards credit card compares to other travel cards
If you value flexibility, the Bank of America Travel Rewards card is one of the the best travel credit cards with no annual fee. It doesn’t operate like a traditional travel card with bonus points or miles, but works like a flat-rate cash back card — except your statement credits are restricted to travel and dining-related categories. But if you don’t travel frequently and you like to redeem for cash back, you’re probably better off with a true flat-rate cash back card.
Annual fee
Intro offer
25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
Rewards rate
Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
75,000 miles once you spend $4,000 on purchases within 3 months from account opening
Rewards rate
5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel. 2 Miles per dollar on every purchase, every day.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
Receive 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.
Rewards rate
Earn unlimited 2 points for every $1 spent on travel and dining purchases. Earn unlimited 1.5 points for every $1 spent on all other purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Best cards to pair with the Bank of America Travel Rewards Card
Since the Bank of America Travel Rewards card is a flat-rate card, the best cards to pair it with will reward your most frequent spending categories with higher rates. Your Travel Rewards card points are best used to cover travel and dining purchases, so you’ll want a card that covers spending outside those two categories.
Who is the Bank of America Travel Rewards Card right for?
The Bank of America Travel Rewards Card offers plenty of benefits, but it may not be the best option for everyone. It might be a good fit if you align with one of the following personas.
Bankrate’s Take — Is the Bank of America Travel Rewards credit card worth it?
The no-annual-fee Bank of America Travel Rewards card is a good choice if you’re a frequent traveler who values flexibility, particularly if you’re a Preferred Rewards member already banking with Bank of America or Merrill.
Since you can redeem points for a travel rewards statement credit, you won’t have to deal with blackout dates or travel restrictions when redeeming, and you have the freedom to book through third-party sites for better travel deals. You can also use your points to cover a wide range of travel purchases, from aquarium tickets to hotel stays, which aren’t covered by comparable rewards cards.
However, there aren’t any travel-specific perks or opportunities to transfer rewards, so a 2 percent flat-rate cash back card may be a better option if you aren’t a Preferred Rewards member.
How we rated this card
We rate credit cards using a proprietary card scoring system that ranks each card’s estimated average rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks and more against those of other cards in its primary category.
Each card feature is assigned a weighting based on how important it is to people looking for a card in a given category. These features are then scored based on how they rank relative to the features on other cards in the category. Based on these calculations, each card receives an overall rating of 1-5 stars (with 5 being the highest possible score and 1 being the lowest).
We analyzed over 150 of the most popular rewards and cash back cards to determine where each stacked up based on their value, cost, benefits and more. Here are some of the key factors that influenced this card’s overall score and how the score influenced our review:
Frequently asked questions
What cardholders think
Bank of America® Travel Rewards credit card
In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder’s product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate’s own reviews of these cards.
Community Reviews
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.
