
Bank of America Travel Rewards Credit Card: 2021 Review
Check Your RateEditor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
Jason SteeleUpdated September 27, 2022
Pros and cons
Pros
New cardholders can earn 25,000 online bonus points after making at least $1,000 in purchases in the first 90 days of your account opening Earn an unlimited 1.5 points for every $1 spent on any purchase, redeemable for a statement credit to pay for travel and dining purchases 0% intro APR No annual fee and no foreign transaction fees
Cons
Few travel or additional benefits Rewards value of 1.5 cents per dollar spent is valuable for a card with no annual fee, but not exceptional To earn more points on purchases, you must be a Bank of America Preferred Rewards member Excellent credit needed to qualify
Earn 25,000 online bonus points, worth $250 in statement credits, after making at least $1,000 in purchases in the first 90 days of your account opening.
The card earns an unlimited 1.5 points for every $1 spent on any purchase. Points can be redeemed for a statement credit toward travel and dining purchases.
Benefits of Bank of America Travel Rewards Credit Card
New cardholders can earn 25,000 online bonus points after making at least $1,000 in purchases in the first 90 days of your account opening Earn an unlimited 1.5 points for every $1 spent on any purchase, redeemable for a statement credit to pay for travel and dining purchases 0% intro APR for the first 15 months on purchases No annual fee and no foreign transaction fees
Disadvantages of Bank of America Travel Rewards Credit Card
Few travel or additional benefits compared to top travel cards Rewards value of 1.5 cents per dollar spent is valuable for a card with no annual fee, but not exceptional To earn more points on purchases, you must be a Bank of America Preferred Rewards member Excellent credit is needed to qualify
Redeeming Cash Rewards
Points can be redeemed for a statement credit toward travel and dining purchases.
Rates and Fees
APR for Purchases: 13.99%-23.99% APR APR for Cash Advances: For direct deposits and check cash advances: 16.99%-26.99% based on your creditworthiness when you open your account For bank cash advances: 28.99%
APR for Balance Transfers: 13.99%-23.99% APR, based on your creditworthiness when you open your account Annual Fee: $0 Cash Advance Fee: For direct deposit and cash check advances: Either $10 or 3% of each transaction, whichever is greater For ATM, over-the-counter, same-day online and cash equivalent cash advances: Either $10 or 5% of each transaction, whichever is greater
Balance Transfer Fee: Either $10 or 3% of each transaction, whichever is greater Foreign Transaction Fee: None Late Payment Fee: Up to $40 Returned Payment Fee: N/A
Is the Bank of America Travel Rewards Credit Card Worth It for You?
Frequently Asked Questions
About the Author
Jason SteeleJason Steele has been writing about credit cards and award travel since 2008. One of the nation's leading experts in this field, he has contributed to dozens of personal finance and travel outlets and has been widely quoted in the mainstream media.
Third party advice: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Brand names: No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third party trademarks referenced herein are property of their respective owners.
Photo credit: iStock/shapecharge
SOLC1021266: