Who is the Bank of America Travel Rewards credit card for?
The Bank of America Travel Rewards card provides the owner with points on every purchase at no annual fee. With this card you will receive 1.5 points for every $1 spent, allowing you to save up and eventually redeem your points for rewards. This card also has a very generous initial bonus, offering 25,000 points if you spend $1,000 within the first 90 days of opening your account.
In addition to the points rewards, this card also provides a multitude of other benefits, including 0% APR on purchases for 12 billing statements and a $0 liability guarantee.
We recommend this card for anyone searching for a simplistic rewards structure and is trying to avoid paying a high annual fee. This card is free to use and offers 1.5 points per dollar spent, making it a viable option for those who want rewards without having to spend money.
Bank of America gives you an initial reward for using this credit card. If you spend $1,000 within 90 days of account opening, you will receive 25,000 points. $1,000 in 3 months is very feasible, so we recommend making a large purchase immediately in order to fulfill this requirement. 25,000 points is the equivalent of approximately $250, so Bank of America is practically giving you $250 for free since there is no annual fee.
The Bank of America Travel Rewards card offers a flat-rate of 1.5 points per dollar spent on all purchases. This works well for people who do not want their lives to be complicated by trying to research where to spend money and on what purchases in order to maximize benefits.
One thing to note is that there are no blackout dates or restrictions on what you can earn points on. Thus, every dollar, no matter the day, no matter the location, will earn you 1.5 points.
Also, points do not expire, which can be very beneficial. You will not have to feel rushed to spend your points before a certain expiration date. Instead, you can take your time, plan out your points spending, and save up toward a larger points reward.
Points can be redeemed in a variety of travel-related ways. First, use your points as a statement credit to book your next flight. Do not worry about spending money on your flights, when you can use the points that you have earned to pay off travel fees.
You can also redeem your points as statement credits to pay for hotels, vacation packages, cruises, rental cars, or baggage fees. Spend your points how you want, and know that using this card will give you a variety of outlets for these points.
Savvy cardholders will take advantage of Bank of America’s Preferred Rewards Membership, which supercharges your rewards earning potential dramatically. That means you could earn up to 2.62 points for every $1 you spend. If you already bank with BofA, you will easily qualify for either 25%, 50%, or 75% more travel rewards -- which makes this card a great decision especially if you’re an existing Bank of America customer.
The Bank of America Travel Rewards card also offers a competitive 0% APR for your first 12 billing cycles for purchases. After that, a Variable APR between 16.49% to 24.49% will apply depending on your creditworthiness. Thus, you do not have to worry about pesky interest charges on purchases you make during the first year of card ownership. Spend freely without interest fees. We recommend you take advantage of this perk by making large purchases for the future during these first 12 months to avoid having to pay interest.
If you use this card, Bank of America will provide you with a variety of protection benefits. First, they will block potential fraudulent charges if they sense your card is being used in a location it is not normally being used in, or on something you do not normally purchase. For example, if you live in Texas and your card is used to purchase something in New York, Bank of America will reach out to you to ensure that this is your purchase.
Also, this card offers a $0 liability guarantee. In the scenario in which a fraudulent transaction is made, you will not be held liable for it. This means that you will not be charged any money for purchases that you did not make with your credit card.
Bank of America also offers chip technology with this card. These chips will bring enhanced security and technology to your credit card, leading to safer and easier purchases.
This card also gives you a paperless statement option. You can choose to receive your credit card statement electronically, enhancing your security, while also reducing paper consumption, thus having a positive effect on the environment.
The Bank of America Travel Rewards card also comes with Digital Wallet technology. If you add your Bank of America credit card to your cell phone, you will be able to shop in-store and online easily using Apple Pay, Google Pay, or Samsung Pay.
You will also receive access to Bank of America’s award-winning online and mobile banking. You will be able to pay your credit card bill, transfer funds, and check available credit, among other services at the click of a button from wherever you may be. You will also receive account alerts that will allow you to stay on top of your account and all of its transactions. These notifications will give you alerts such as when your payment is due.
Finally, through the mobile banking app or online, you will have access to your FICO credit score. You will be able to see how your score changes monthly for free.
No Annual Fee
The last added perk of this card is that there is no annual fee. Receiving benefits for free is always valuable, and you will never have to worry about paying an annual fee to receive these rewards. Instead, you can just sign up for this credit card and enjoy the travel rewards.
Overall, the Bank of America Travel Rewards is a solid option for people who want travel rewards without having to pay an annual fee. You will receive a generous welcome bonus, 0% APR on purchases for the first 12 months, and 1.5 points per dollar spent. This simplistic rewards structure may not have the greatest rewards benefits, but for no annual fee, this card is a feasible option for all credit card shoppers.