The BankAmericard Travel Rewards® Credit Card is a popular travel reward credit card with a straightforward rewards program and some attractive benefits for current Bank of America deposit account holders. Unlike many travel rewards cards, which limit the redemption of points for purchases made with specific airlines and hotel brands, BankAmericard Travel Rewards points can be redeemed for statement credits to offset virtually any travel purchase.
BankAmericard Travel Rewards competes with other general-purpose and brand-name credit cards, including the Capital One Venture Rewards credit card, Expedia + from Citi, and Chase Sapphire Preferred, among others.
Main features
Bonus when registering
When you spend at least $ 1,000 within 90 days of opening your account, you receive a bonus of 20,000 points. That is worth $ 200 in trip statement credits. Earn and redeem travel rewards
The BankAmericard Travel Rewards credit card earns an unlimited number of 1.5 points for every $ 1 spent on most purchases. The main exception is travel purchases made through the Bank of America Travel Center, which earns 3 unlimited points for every $ 1 spent (excluding airfare, which earns 3 points for $ 1 spent on the first $ 1,500 in quarterly expenses and an unlimited 1.5 points per $ 1 spent after that).
Points are always worth $ 0.01 in redemption. They can be redeemed for statement credits to offset any travel purchases (including car rentals, airfare, vacation packages, cruises, hotel rooms, and incidentals such as baggage charges) starting at the minimum redemption threshold of 2,500 points ($ 25).
Bank of America Customer Benefits and Preferred Rewards
If you have a Bank of America deposit account in good standing, you will automatically receive a 10% bonus on all one-time earnings. If you have more than $ 20,000 deposited with Bank of America and therefore qualify as a Preferred Rewards customer, you will get a higher bonus according to your Preferred Rewards level: Gold ($ 20,000 to $ 50,000) gets a 25% bonus; Platinum ($ 50,000 to $ 100,000) earn a 50% bonus, and Platinum Honors ($ 100,000-plus) earn a 75% bonus.
Overdraft Protection for Bank of America Deposit Account Holders
This card allows you to link an existing Bank of America deposit account to your credit card account to avoid overdrafts. If you overdraw your deposit account, your BankAmericard Travel Rewards card will be charged in increments of $ 100; in other words, you will be charged $ 200 for a $ 150 overdraft. Each overdraft incurs a fee of $ 12 and then accrues interest at the maximum cash advance rate.
Introductory APR
Bank Americard Travel Rewards has a 12-invoice cycle 0% purchase APR. There is no introductory APR balance transfer promotion.
Important fees
This card requires good to excellent credit. A few small credit bumps probably won’t disqualify you from consideration.
Advantages
- Straightforward reward system. BankAmericard Travel Rewards has a simple and easy-to-understand rewards system. You earn 1.5 points for every $ 1 spent on most purchases, except for most purchases made through the Bank of America Travel Center (where you earn 3 points for every $ 1 spent). On the redemption side, you simply choose the purchases you want to redeem accumulated points for and then receive them in the form of a statement credit. Generally, specific credit cards for hotels and airlines are much more difficult to understand, such as platform-specific cards such as Expedia + from Citi, which only allow you to redeem accumulated points for purchases made through Expedia.
- Accelerated admissions through the Bank of America Travel Center. Most trips booked through the Bank of America Travel Center earn an unlimited number of 3 points for every dollar spent, with the only exception being the airfare (3 points per $ 1 of premium spent is capped at $ 1). 6,000 in annual expenses). This is a great incentive to use the BoA Travel Center.
- Very good sign-up bonus. This card’s 20,000 points sign-up bonus is worth $ 200 and requires a spend of just $ 1,000 to reach it. The Expedia + card bonus is only $ 150, and Discover it Miles does not have any sign-up bonuses.
- No annual fee. The BankAmericard Travel Rewards credit card does not have an annual fee. It’s great news for frugal cardholders, and a huge differentiator from such general-purpose travel rewards cards as Capital One Venture Rewards ($ 95 annual fee, dispensed in the first year) and Barclaycard Arrival Premier® World Elite. Mastercard® ($ 150 annual fee).
- Nice purchase APR promotion. The BankAmericard Travel Rewards credit card has a 12-invoice cycle 0% purchase APR promotion. This is great news if you plan to use this card to fund a big trip or other great initial purchase right away. The Expedia + card and the Citi Hilton Honors Visa Signature card have no purchase APR promotions at all.
- Nice Point Bonuses for Bank of America Deposit Account Holders. If you are a current Bank of America deposit account holder, you are entitled to an automatic 10% bonus on all points earned with this card. And if you have more than $ 20,000 in deposit with BoA, the bonus increases significantly, up to 75%.
Disadvantages
- Bounty limits Gain power. Most BankAmericard Travel Rewards credit card purchases earn 1.5 points for every $ 1 spent. That’s not bad, but it’s not the best on the market either. If you spend more and are willing to accept an annual fee, many competing cards earn points faster. For example, Capital One Venture Rewards ($ 59 annual fee) and Barclaycard Arrival Plus® World Elite Mastercard® ($ 89 annual fee, waived for the first year) earn 2 points for $ 1 spent, and generally value points at $ 0.01 each.
- No balance transfer promotion. The purchase promotion for this card is not combined with a balance transfer promotion. This is inconvenient for new cardholders who wish to be able to transfer existing high-interest balances to this card. Competitors like Capital One VentureOne Rewards Credit Card have balance transfer promotions.
- It has a penalty APR. BankAmericard Travel Rewards have a 29.99% penalty APR. This is a detractor for cardholders who sometimes miss payments. If you don’t want to be penalized (possibly indefinitely) for missing a payment, choose a travel rewards card without a penalty APR, like Discover it, Miles.
Final word
When it comes to travel purchases, the BankAmericard Travel Rewards®’ credit card does not discriminate. At the time of redemption, points are worth the same if redeemed for statement credits that offset a domestic airline ticket, multi-day rental, baggage fee, or special vacation package, no matter how one was purchased of those items. Even if BankAmericard Travel Rewards isn’t the most generous travel rewards card, there’s a lot to be said for simplicity and flexibility.
