Hello Friends, I hope all is well with you! Today, I am going to be reviewing the Bank of America Travel Rewards Credit Card. I wanted to note that I do have this credit card. These opinions are my own, and I am in no way influenced by anyone.
Overall Verdict: This rewards card gives you the opportunity to earn a solid number of miles per dollar spent, especially if you are able to pair it with their preferred program. There are better cards in my opinion out there that I like simply because they have some of the extra benefits that this card doesn’t have, but this is still a decent no annual fee travel rewards credit card from Bank of America don’t get me wrong.
Some things about this card that I do like:
Now for some of the things that I don’t like:
This card gives you the opportunity to earn travel miles that accumulates in your account until you decide when you want to redeem the rewards. The best way to redeem the miles that you have accumulated is to apply the amount to a travel related expense. For this card, every 1,000 miles is equivalent to a $10 statement credit that can be applied towards a travel expense. It’s important to note that this is only if you apply your travel miles as a statement credit instead of demanding cash. If you demand cash instead of a statement credit, the amount will be worth much less, so it’s a good idea to have the mindset that you will only be redeeming your miles as a statement credit that is applied towards travel expenses.
This is a no annual fee travel rewards card from Bank of America.
This card offers a solid 1.5x miles for every dollar spent regardless of the category. That means everything you spend your money on will receive this reward amount, and there is no limit to the number of miles that can be earned. They also offer you the chance to earn extra miles but only if you bank with them and are part of their preferred rewards program. The preferred rewards program is divided into three tiers: Gold, Platinum, and Platinum Honors. The way you get assigned to one of these tiers depends on how much money you have deposited with them. The required balance is based off of a three-month average.
|Tier||Required Balance||Credit Card Rewards Bonus|
|Gold||$20,000 to < $50,000||25% reward bonus|
|Platinum||$50,000 to < $100,000||50% reward bonus|
|Platinum Honors||$100,000 +||75% reward bonus|
If you are a gold member, that means you would get an extra 25% on the 1.5x miles. The card would actually earn 1.87x miles for every dollar you spent.
The Bank of America Travel Rewards Credit Card does offer 25,000 bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening. It can be redeemed for a $250 statement credit that can be applied towards travel expenses. This would be a 25% return on the money that you would have spent regardless.
Another good thing about this card is that there are no foreign transaction fees. It is always a good idea to get a no foreign transaction fee rewards card just in case you do go abroad or purchase something in a foreign currency.
This is where I think the card struggles compared to other cards. They don’t have that many extra features that some people would want to see.
Bank of America offers new cardholders an introductory APR of 0% for 12 billing cycles. After the introductory offer ends, the APR would be between 14.99% and 22.99%; it just depends on your credit score.
They also have other fees such as:
For more information on their fees, check out their fee schedule.
There are a few ways to contact Bank of America for your questions or problems. The first way would be to call the number on the back of your card. The second way would be to mail in your question, comment, or concern to one of their PO box’s. The third option would be to find a location and schedule an appoint to meet with a representative. There will be times where you might have to wait a little longer than usual or maybe you get a bad agent. Your experience with their customer service will vary from time to time depending on the agent you get.
This card is a decent no annual fee credit card.
Who it’s perfect for:
Who it isn’t perfect for:
If you are still unsure if a rewards credit card makes sense, check out my post on Why You Should Use Rewards Credit Cards.
Additionally, if this card isn’t right for you, I invite you to check out my credit cards page for more information on other cards.