Bank Of America Travel Rewards Credit Card Review 2023
 |
| Bank Of America Travel Rewards Credit Card Review 2023 |
Our Verdict
The Financial institution of America® Journey Rewards bank card could attraction to occasional vacationers who desire a no-annual-fee bank card with a easy rewards system. Total, the cardboard is a just-average journey rewards card with out lots of the attractive perks supplied by different standard journey bank cards, but it gives a compelling choice for members of Financial institution of America’s Most well-liked Rewards program who would reap above-average earnings.
Execs
- Earn uncapped rewards
- Financial institution of America Most well-liked Rewards purchasers earn 25%-75% extra factors on each buy
- No overseas transaction charges
Cons
- No bonus classes to spice up reward earnings
- APR may be excessive, relying on creditworthiness
Highlights
- Earn limitless 1.5 factors per $1 spent on all purchases, with no annual charge and no overseas transaction charges and your factors don’t expire.
- 25,000 on-line bonus factors after you make no less than $1,000 in purchases within the first 90 days of account opening – that may be a $250 assertion credit score towards journey purchases.
- Use your card to e-book your journey how and the place you need – you’re not restricted to particular web sites with blackout dates or restrictions.
- Redeem factors for a press release credit score to pay for journey or eating purchases, corresponding to flights, lodge stays, automobile and trip leases, baggage charges, and in addition at eating places together with takeout.
- 0% Introductory APR for 15 billing cycles for purchases, and for any steadiness transfers made within the first 60 days. After the intro APR provide ends, 18.24% – 28.24% Variable APR will apply. A 3% charge applies to all steadiness transfers.
- For those who’re a Most well-liked Rewards member, you'll be able to earn 25%-75% extra factors on each buy. Which means as an alternative of incomes a vast 1.5 factors for each $1, you would earn 1.87-2.62 factors for each $1 you spend on purchases.
- Contactless Playing cards – The safety of a chip card, with the comfort of a faucet.
- This on-line solely provide might not be out there for those who depart this web page or for those who go to a Financial institution of America monetary heart. You'll be able to make the most of this provide if you apply now.
Present Financial institution of America Journey Rewards Credit score Card Provide
The Financial institution of America® Journey Rewards bank card has a bonus provide for brand spanking new cardholders: Earn 25,000 on-line bonus factors after making no less than $1,000 in purchases within the first 90 days of account opening. The 25,000 factors may be redeemed for a $250 assertion credit score towards eating and journey purchases.
Introduction
We love bank cards, however we don’t love how complicated they are often in terms of incomes or redeeming their rewards. The Financial institution of America® Journey Rewards bank card simplifies the journey rewards house by incomes 1.5 factors per greenback on all purchases. Whereas this isn’t the best incomes price on the market on a flat-rate rewards bank card, those that are members of Financial institution of America’s Most well-liked Rewards program can get a major increase of 25% to 75% extra factors per greenback spent, relying on their tier.
This isn’t a card for luxurious vacationers. Financial institution of America’s tackle journey rewards doesn’t embrace the luxurious perks that some different bank cards provide. That doesn’t imply, nonetheless, that the cardboard is totally devoid of journey advantages. As a Visa Signature card, it gives a couple of perks to get enthusiastic about, together with concierge providers and entry to the Visa Signature Lodge Assortment.
Financial institution of America Journey Rewards Card Fast Details
- $0 annual charge
- Earn 1.5 factors per greenback on all purchases
- No overseas transaction charges make this an excellent choose for vacationers seeking to cross borders
- Factors may be redeemed as a press release credit score towards journey and eating purchases, money again or present playing cards
- Most well-liked Rewards members can earn 25% to 75% extra factors
What Is the Financial institution of America Journey Rewards Credit score Card Greatest For?
The Financial institution of America® Journey Rewards bank card is greatest for incomes limitless journey rewards. With no bonus classes to trace, the cardboard is a wonderful match for somebody who values simplicity over difficult earnings applications. Listed here are two of our greatest bank card lists that characteristic the Financial institution of America® Journey Rewards bank card:
- Greatest No Annual Price Playing cards for Journey
- Greatest Financial institution of America Credit score Playing cards
Financial institution of America Journey Rewards Credit score Card Rewards
Incomes Rewards
The Financial institution of America® Journey Rewards bank card earns 1.5 factors per greenback on all purchases.
Financial institution of America Most well-liked Rewards members earn a 25% to 75% bonus on all factors earned, relying on program qualification stage. The entry stage of this system requires a steadiness of $20,000 or extra in eligible Financial institution of America or Merrill accounts with the best tiers requiring a steadiness of no less than $100,000.
The Financial institution of America Journey Rewards card gives a welcome bonus that enables eligible new cardholders to earn 25,000 on-line bonus factors after making no less than $1,000 in purchases within the first 90 days of account opening.
Redeeming Rewards
Factors earned by means of the Financial institution of America® Journey Rewards bank card may be redeemed for assertion credit to pay for flights, inns, trip packages, cruises, rental vehicles, baggage charges and eating places together with takeout. Every level is value 1 cent when redeemed this fashion.
Different methods to redeem rewards embrace for present playing cards and money again, however these redemptions have decrease charges. Every level redeemed for money is value 0.6 of a cent (2,500 factors = $15). Reward card redemptions range in worth per level.
Rewards Potential
To find out the rewards potential of a bank card we take a look at the reward classes the cardboard gives and calculate what an instance American family would possibly spend in these areas. Advisor makes use of knowledge from numerous authorities businesses to find out baseline revenue and spending averages throughout numerous classes. The seventieth percentile of wage-earning households usher in $116,000 yearly and we base spending on that quantity.
Advisor estimates that the family has $36,177 in bills that may be fairly charged to a bank card. Incomes 1.5 factors per greenback spent, spending on the Financial institution of America® Journey Rewards bank card would lead to 54,265 factors per 12 months. After redemption in opposition to qualifying purchases, this is able to lead to a worth of $542.66 in annual reimbursement assertion credit.
Members of the Financial institution of America Most well-liked Rewards program can do even higher.
- Gold (25% factors increase): 67,831 factors (Equal to $678.31 in journey redemption credit)
- Platinum (50% factors increase): 81,397 factors (Equal to $813.97 in journey redemption credit)
- Platinum Honors and Diamond (75% factors increase): 94,963 factors (Equal to $949.63 in journey redemption credit)
Associated: The Greatest Credit score Playing cards
Financial institution of America Journey Rewards Credit score Card Advantages
- $0 legal responsibility assure: Cardholders aren't chargeable for fraudulent transactions.
- Digital pockets suitable: Appropriate with Apple Pay, Google Pay and Samsung Pay.
- FICO Rating: Free month-to-month FICO Rating replace inside the cell or on-line banking apps.
- Visa Signature perks: As a Visa Signature card extra perks embrace entry to the Visa Signature Luxurious Lodge Assortment.
Financial institution of America Journey Rewards Credit score Card Charges
- Annual charge: $0
- Stability switch charge: 3% of the quantity of every transaction
- Overseas transaction charge: None
- Late fee charge: As much as $40
Financial institution of America Journey Rewards Credit score Card Credit score Necessities
A very good credit score rating will go an extended method to being authorized for any bank card, together with the Financial institution of America® Journey Rewards bank card. A FICO Rating is commonly utilized by lenders and banks to make their credit score selections and falls on a variety, from 300 to 850. A very good rating is between 670 and 739.
Superb Print
- Common APR: 18.24% - 28.24% Variable APR on purchases and steadiness transfers
- Buy intro APR: 0% Intro APR for 15 billing cycles for purchases
- Stability switch intro APR: 0% Intro APR for 15 billing cycles for any steadiness transfers made within the first 60 days
How the Financial institution of America Journey Rewards Credit score Card Stacks Up
Financial institution of America® Journey Rewards bank card vs. Capital One VentureOne Rewards Credit score Card
An alternative choice for these searching for a no-annual-fee journey rewards card with a easy earnings construction is the Capital One Venture One Rewards Credit score Card (charges & charges). It earns 5 miles per greenback on inns and rental vehicles booked by means of Capital One Journey and 1.25 miles per greenback on each different buy—not fairly as a lot as the usual earn price on the Financial institution of America® Journey Rewards bank card. Nevertheless, the VentureOne card gives the flexibility to switch miles to a number of Capital One companions at a possible enhance in worth.
Financial institution of America® Journey Rewards bank card vs. Chase Freedom Flex℠*
The Chase Freedom Flex℠* is a Advisor prime choose each for cash-back bank cards and no-annual-fee bank cards, and with good purpose. It gives 5% money again on as much as $1,500 in classes that rotate quarterly (requires activation), 5% money again on journey bought by means of Chase Final Rewards®, 3% money again on eating and drugstores and 1% money again on all different purchases. Many will come out forward with this rewards scheme in comparison with that of the Financial institution of America® Journey Rewards bank card.
For many who have a premium Chase Final Rewards®-earning card just like the Chase Sapphire Most well-liked® Card or Chase Sapphire Reserve®, the rewards earned by means of the Chase Freedom Flex may be pooled and transferred to Chase’s airline and lodge switch companions.
Financial institution of America® Journey Rewards bank card vs. Financial institution of America® Premium Rewards bank card
The Financial institution of America® Premium Rewards bank card is the $95-annual-fee larger sibling to the Journey Rewards Card. It gives 2 factors per greenback on journey and eating purchases and 1.5 factors per greenback on all different purchases. Contemplating the bonus classes alone, cardholders would want to spend $4,750 on journey and eating to interrupt even with the annual charge.
Nevertheless, this card additionally gives a $100 airline incidental credit score every year and as much as a $100 World Entry or TSA PreCheck software charge credit score each 4 years. Assuming these advantages are utilized, it’s straightforward to return out forward of the annual charge. Nevertheless, these not sure if they'll maximize these advantages will probably be higher served by the no-annual-fee Journey Rewards card.
Examine the Financial institution of America Journey Rewards Credit score Card With Different Playing cards
Is the Financial institution of America Journey Rewards Credit score Card for You?
The Financial institution of America® Journey Rewards bank card is probably going greatest suited to occasional vacationers who aren’t searching for luxurious journey perks. The easy rewards system—1.5 factors per greenback on all purchases—makes this a rewards card that eliminates complications over determining one of the best methods to maximise spending. This card doesn’t provide many attractive extra advantages, so customers who wish to dedicate rewards strictly to journey would possibly think about this card.
Methodology
Advisor considers quite a lot of standards when assigning bank cards a ranking. Playing cards are graded based mostly on quite a few elements together with:
- Annual charges
- Welcome bonus gives
- Ongoing incomes charges
- Worth of particular person factors of miles
- Included journey or service provider credit
- Extra cardholder advantages
Card options we anticipate cardholders to make use of essentially the most typically are weighted extra closely in our scores. Altogether, the elements got here collectively to supply a star ranking for every particular person card.
Redeeming Rewards
Factors earned by the Financial institution of America® Journey Rewards bank card might be redeemed for assertion credit to pay for flights, resorts, trip packages, cruises, rental vehicles, baggage charges and eating places together with takeout. Every level is value 1 cent when redeemed this fashion.
Different methods to redeem rewards embrace for reward playing cards and money again, however these redemptions have decrease charges. Every level redeemed for money is value 0.6 of a cent (2,500 factors = $15). Present card redemptions range in worth per level.
Rewards Potential
To find out the rewards potential of a bank card we take a look at the reward classes the cardboard provides and calculate what an instance American family would possibly spend in these areas. Advisor makes use of knowledge from numerous authorities companies to find out baseline revenue and spending averages throughout numerous classes. The seventieth percentile of wage-earning households usher in $116,000 yearly and we base spending on that quantity.
Ary Advisor estimates that the family has $36,177 in bills that may be fairly charged to a bank card. Incomes 1.5 factors per greenback spent, spending on the Financial institution of America® Journey Rewards bank card would end in 54,265 factors per 12 months. After redemption in opposition to qualifying purchases, this may end in a price of $542.66 in annual reimbursement assertion credit.
Members of the Financial institution of America Most well-liked Rewards program can do even higher.
- Gold (25% factors increase): 67,831 factors (Equal to $678.31 in journey redemption credit)
- Platinum (50% factors increase): 81,397 factors (Equal to $813.97 in journey redemption credit)
- Platinum Honors and Diamond (75% factors increase): 94,963 factors (Equal to $949.63 in journey redemption credit)
Associated: The Finest Credit score Playing cards