INTRODUCTION

The Bank of America® Travel Rewards Credit Card is an excellent choice, easy to use rewards card, with no annual fee and a longer than usual initial 0% APR offer. 

The rewards structure is simple: earn 1.5 points per dollar spent. The best redemption value comes from using points as a statement credit toward travel, flights, hotels, dining, and select other categories—effectively giving you 1.5% back. Points can also be redeemed for cash or gift cards, but typically at a lower value.

Where this card really shines is when paired with Bank of America Preferred Rewards. This program is open to Bank of America checking account holders, with balances over $20,000 (based on three-month average combined daily balance). 

The higher this balance, the higher the boost to credit cards reward. This ranges from 25% to 75% bonus as follows:

• Preferred Reward Gold with balances of $20,000 to $49,999 – 25% rewards bonus
• Preferred Reward Platinum with balances of $50,000 to $99,999 – 50% rewards bonus
• Preferred Reward Platinum Honors with balances of over $100,000 – 75% rewards bonus

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MAIN CARD BENEFITS:

No annual fee.

0% introductory APR on purchases and balance transfers for 15 billing cycles (balance transfers must be made within 60 days of account opening).

Simple earning structure of 1.5 points per dollar on all spending (worth 1.5% for travel, dining, and more). 

Earning 3 points per $1 spent on travel purchases through the Bank of America® Travel Center.

Points earning can be boosted to 2.62 points per dollar for those that have a current account and use the Bank of America Preferred Rewards program. 

No foreign transaction fees.

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WHO IS THE CARD FOR:

The card is an excellent choice for those who use, or could qualify for, Bank of America Preferred Rewards. Those with the highest account balances (an average balance of over $100,000) benefit from an impressive 75% boost to rewards. 

Others can still benefit from the simple and unlimited earning structure but might find better rewards with other cards.

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PROS:

0% APR offered for up to 15 billing cycles.

Total rewards of up to 2.62 points per dollar when combined with Bank of America Preferred Rewards.

Simple to use with unlimited cashback at the same rate for all purchases. 

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CONS:

There are no bonus categories for rewards earning. 

No specific travel perks or benefits (despite being named as a Travel Rewards card). 

Modest sign-up bonus compared to other no-fee cards.

To receive the best benefits, the card needs to be combined with Preferred Rewards and a high Bank of America checking account balance.

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