Dollar Dollar Bills, Y'all

Marketing Disclosure

Bank of America® Travel Rewards Credit Card

Our Two Cents: Bank of America® Travel Rewards Credit Card Review 

The Bank of America Travel Rewards credit card is a reliable no annual fee credit card, that can make a solid staple in the right wallet. Customers will earn 1.5 points per dollar spent on all purchases, all the time, with no earning caps or categories to keep track of. This card’s earning potential is kicked up a notched for existing Bank of America customers. As an existing customer, you’ll find yourself earning anywhere between 10% - 75% more when you go to redeem your rewards for a statement credit, depending on your average account balances with Bank of America.

Earn more you say? Here’s how Preferred Rewards works. Existing BOA customers are grouped into rewards earning tiers based on their combined balances with Bank of America and Merrill Edge. The more money you have stashed away in your account for your next vacation, the more rewards you’ll earn for travel today. It’s a win win.

Bank of America Preferred Rewards Client Bonus
TierAccount BalanceEarning Potential
Base$0 - 19,99910%
Gold$20,000- 49,99925%
Platinum Honors100,000 +75%

As you can see in the chart below, this starts to add up. If you are an existing BOA customer and you redeem your travel points, your earn rate for daily spend can be as high as 2.62 points earned per dollar. This is one of the highest earn rates on everyday spend that is available on a card that carries no annual fee.

Bank of America Preferred Rewards Client Earn Rates
TierEveryday Spend
Platinum Honors2.62

Earn rates aside, the Bank of America Travel Rewards card has some additional perks that make it a valuable travel companion.

  • 20,000 online bonus points if you make at least $1,000 in purchases in the first 90 days. A bonus worth $200 on a card without an annual fee is nothing to shrug at.
  • Points that can be redeemed without blackout dates. Points tied to specific hotels/airlines aren’t for everyone. The restrictions can be a headache.
  • A no annual fee product is a great way to build a relationship with a new bank. If you don’t like the service you are receiving, you have the option to pack up and take your business elsewhere.
  • This card also offers 0% on purchases for the first 12 billing cycles, which is a nice perk. If you play your cards right, you shouldn’t have any interest or fee expenses tied to this card in the first year, AND you should be able to book a roundtrip flight to Vegas with that $200 statement credit. Jackpot.

Who Should Get It?

We’d only recommend this card to those who already have an existing relationship with Bank of America or those planning to open a checking or savings account with them soon. Bank of America really values long term relationships, so this is a winner for those looking for a more entry level product and will help you build a relationship for other product lines down the road. This card is also a good fit for more established customers that can take advantage of the increased earnings that come with being a Preferred Rewards client.

Who Shouldn’t Get it?

Those that have a tendency to carry a balance from month to month. Rewards and travel credit cards carry a higher than usual base APR. If you’re going to carry a balance, let’s stroll over to the low interest part of town. You’ll lose any point value by paying higher interest rates here.

Final Thoughts

The Bank of America Travel Rewards Card is an average travel product that can be a good choice for semi-frequent travelers that aren’t ready to commit to an annual fee product, or tie themselves to one hotel or airline chain. You’ll have a chance to review your travel habits, and see how much flexibility you’ll really need in the years to come. With no annual fee and no foreign transaction fees you don’t have much to lose by giving BOA a chance, and at the very least, you’ll gain some rewards.

Bank of America® Travel Rewards Credit Card Highlights

  • 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
  • 20,000 online bonus points if you make at least $1,000 in purchases in the first 90 days — that can be a $200 statement credit toward travel purchases
  • Use your card to book your trip how and where you want — you're not limited to specific websites with blackout dates or restrictions
  • Redeem points for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars, or baggage fees
  • Comes with chip technology for enhanced security and protection at chip-enabled terminals
  • 0% Introductory APR for 12 billing cycles for purchases, then 16.24% - 24.24% Variable APR
  • Get an additional 10% customer points bonus on every purchase when you have an active Bank of America® checking or savings account
  • If you're a Preferred Rewards client, you can increase that bonus to 25% - 75%

Similar Reviews

Premium Rewards® Card

  • $95 annual fee

  • Earn a 50,000 point welcome bonus

  • $100 Annual Airline Incidental Statement Credit

  • PreCheck/Global Entry Credit

  • Best for current Bank of America Customers

Bank of America® Cash Rewards Credit Card

  • $0 Annual Fee
  • 3% cash back on the eligible category of your choosing
  • Low intro APR for purchases and balance transfers

Chase Sapphire Preferred® Card

  • Transfer points to eligible airline and hotel partners
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. 
  • Points are worth 1.25 cents each when redeeming through Chase Ultimate Rewards.
  • The perfect complimentary card to the Chase Freedom Unlimited.
  • Annual Fee is $0 for the first year, then $95