Edited by: Kellie Jez
Great Card If
- You’re looking for an easy way to start earning travel rewards
- You have status in the Bank of America Preferred Rewards program
Don’t Get If
- You want a card that earns transferable rewards
- You want a card that offers more benefits
Bank of America Travel Rewards Card — Is It Worth It?
If you are new to the world of travel rewards cards, and you’re looking for a card that offers a simple earning structure and uncomplicated redemptions, along with no annual fee or foreign transaction fees, then the Bank of America Travel Rewards card would likely be worth it for you.
Further, if you’re someone who has status in the Bank of America Preferred Rewards program, then the card would be very worthwhile to you thanks to the 25% to 75% rewards points boost you can earn.
Bank of America Preferred Rewards Boost
As a no-annual-fee card, the Bank of America Travel Rewards card doesn’t offer much in the way of benefits.
But one benefit it does offer that can be quite lucrative to cardholders is the ability to boost your rewards rate through the Bank of America Preferred Rewards program.
If you’re not already familiar, the Bank of America Preferred Rewards program is the bank’s loyalty program that offers added rewards and benefits for those who hold a certain level of assets in their Bank of America deposit accounts and/or Merrill Edge and Merrill Lynch investment balances.
There are quite a few benefits you receive at each elite status tier, but for this post, we will be exclusively focusing on the credit card rewards boost you receive:
|Status Level||Assets Required||Rewards Bonus||Increased Earnings|
|Gold||$20,000+ in assets||25% rewards bonus||1.875x points per $1 spent|
|Platinum||$50,000+ in assets||50% rewards bonus||2.25x points per $1 spent|
|Platinum Honors and above||$100,000+ in assets||75% rewards bonus||2.625x per $1 spent|
The ability to earn up to 2.625x points per $1 on every purchase that you make is quite exceptional, and quite a bit higher than what you would earn with many other non-bonused cards.
Best Ways To Earn and Redeem Your Bank of America Points
When it comes to earning more points, the best way to do so is by using your card for as many purchases as you can. Further, if you have the ability to achieve a status level in the Bank of America Preferred Rewards program, this is a great way to boost the number of points you will earn by 25% to 75%.
The Bank of America travel portal allows you to redeem your points for any travel-related purchase you can think of, at a set rate of 1 cent per point. This includes flights, hotels, rental cars, and cruises, but also excursions like amusement parks, zoos, and more.
Alternative Card to the Bank of America Travel Rewards Card
Chase Freedom Unlimited®
Learn More(at Chase's secure site)
This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
Additional 1.5% cash-back
Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back.
Good to Excellent (670-850)
Credit ranges are only a recommendation and a variation of FICO© Score. Issuers may use many types of credit scores when considering an application.
The Chase Freedom Unlimited® is easily one of the best cash-back credit cards on the market. There aren’t many no-annual-fee credit cards that offer multiple great bonus categories like 5% back on travel purchased through Chase, 3% back on dining and drugstore purchases, and 1.5% back on all other purchases.
When paired with other Chase cards in the Ultimate Rewards family, you can transfer that cash back into points if you wish – making it one of the most lucrative cards in your wallet.
Don’t forget too, there’s 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
- 5% back on travel purchased through Chase Ultimate Rewards
- 3% back on dining and drugstore purchases
- 1.5% back on all other purchases
- No annual fee
- Earn big on travel purchased through Chase Ultimate Rewards
- Everyday bonus on dining and drugstores
- Straightforward cash-back on all other purchases
- Ability to pool points
- 3% foreign transaction fee
- INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
- Enjoy 6.5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
- After your first year or $20,000 spent, enjoy 5% cash back on Chase travel purchased through Ultimate Rewards®, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
- No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
- Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
- Member FDIC
- Benefits of the Chase Freedom Unlimited
- Chase Freedom Unlimited Requirements and Credit Score
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An obvious alternative to the Bank of America Travel Rewards card is the Freedom Unlimited card, as it also earns 1.5% all purchases with no annual fee.
However, the Freedom Unlimited card also offers 5% on travel purchased through the Chase travel portal and 3% on dining and at drugstores.
The card also offers flexible redemption options at 1 cent per point towards the Chase travel portal, cash-back, and more. Plus, those with a premium Ultimate Rewards card like the Chase Sapphire Preferred® Card can pool their points together to redeem through one of the Chase transfer partners.
We’ve also compared the Bank of America Travel Rewards card to other popular credit cards:
The information regarding the Bank of America® Travel Rewards credit card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
Frequently Asked Questions
If you’re looking for an uncomplicated way to earn travel rewards, without an annual fee, then yes the Bank of America Travel Rewards card could be worth it to you… even more so if you are in the Bank of America Preferred Rewards program and can earn 25% to 75% more rewards.
No, the Bank of America Travel Rewards card does not charge an annual fee.
No, the Bank of America Travel Rewards card does not offer any sort of travel insurance.
The Bank of America Travel Rewards card doesn’t offer many card benefits. However, those who are part of the Bank of America Preferred Rewards program can earn 25% to 75% more points.
No, the Bank of America Travel Rewards card does not charge foreign transaction fees.
Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. No responsibility will be taken by the bank advertiser for these comments.