Overview
Founded in 1998 but with a history that dates back to 1784, Bank of America is among the most well-known banks in the world. It has tens of millions of customers, over 200,000 employees, and just shy of 4,000 branches. The company has won dozens of awards from a variety of organizations over the years.
The Bank of America® Travel Rewards Credit Card provides 1.5 points for every $1 you spend on anything, and the points never expire as long as your account remains open. It has no annual or foreign transaction fee and a 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that's currently 19.24%-29.24% Variable will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
Suitable For?
This card is best for those who want to earn travel rewards points every time they make a purchase without paying an annual or foreign transaction fee. People who travel and frequently take flights, stay in hotels, rent cars, and dine out will appreciate the card's benefits.
Interest Rates and Fees
The Bank of America® Travel Rewards Credit Card features no annual fee and doesn’t charge a foreign transaction fee. There’s an intro APR of 0% for your initial 15 billing cycles (0% intro APR for balance transfers for 60 days from account opening). When the intro APR is over, the variable interest rate for purchases and balance transfers is 19.24% - 29.24%, and for cash advances, it’s 22.24% - 29.24%.
| Annual fee | $0 |
| Interest rate | 19.24%-29.24% Variable |
| Late payment penalty fee | Up to $40 |
| Balance transfer fee | 3% for 60 days from account opening, then 4% |
| Cash advance interest rate | 22.24% - 29.24% |
Rewards and Cash Back
The Bank of America® Travel Rewards Credit Card gets you 1.5 points for every $1 you spend. There are no limits to the points you can earn, and they’re earned on every purchase. Each point is the equivalent of $0.01.
There’s also a 25,000 points bonus if you spend $1,000 in the initial 90 days of opening your account.
Bank of America Preferred Rewards members can earn even more points (an additional 25% - 75%) based on their tier. This means instead of getting 1.5 points, members earn 1.87 - 2.62 points for every dollar spent.
To become a member, you must have a certain average daily balance within your deposit and/or investment accounts with the company. Here is a breakdown of the different tiers, along with how many more points they earn:
- Gold tier members need $20,000 to $50,000 and earn 25% more points
- Platinum tier members need $50,000 to $100,000 and earn 50% more points
- Platinum Honors tier members need $100,000 to $1,000,000 and earn 75% more points
- Diamond tier members need $1,000,000 to $10,000,000 and earn 75% more points
The Application Process
Applying for a Bank of America credit card online is quick and easy. It only takes a few minutes to fill out the form, and it asks for your:
- Name
- Address
- Phone number
- Social security number
- Date of birth
- Employment and income details
Using the information you provide and a credit check, Bank of America will approve or deny your application. If your application is approved, you’ll receive your card within 10 business days.
Help and Support
Customer support is offered over the phone, via email, live chat, or social media platforms like Facebook and Twitter/X. Getting assistance is easy, and plenty of helpful FAQs and an extensive help center are available online.
While assistance for lost and stolen credit cards is available around the clock, generally, the customer service hours for Bank of America are as follows:
- Mon-Fri, 8 a.m.-9 p.m. ET
- Saturday, 8 a.m.-8 p.m. ET
- Sunday, 8 a.m.-5 p.m. ET
Security
Bank of America has several security measures in place to keep customers safe. The website uses SSL encryption, and the company allows for the use of both two-factor and biometric authentication to protect accounts.
It has a detailed privacy policy, lets you control how your data is shared, and sets custom alerts that let you keep tabs on your account at all times.
The company also offers a $0 Liability Guarantee that ensures you aren’t charged for unauthorized and fraudulent transactions.
FAQs
What to do if a card is lost or stolen?
If your card is lost or stolen, report it to Bank of America online or call 800-732-9194. You won’t be responsible for fraudulent charges, and the company will immediately cancel your card and send a new one.
How soon can rewards points be redeemed?
Once you’ve accumulated 2,500 points (which is equivalent to $25), you’ll have the option to redeem your points.
Conclusion
The Bank of America® Travel Rewards has no annual fee, lets you earn 1.5 points for each dollar you spend, and features a generous welcome bonus and intro APR. It’s a great choice for travelers who want to save on everything from flights to hotels to rental cars.
Methodology
This review used information from the Bank of America website.
