Bank Of America Cash Rewards Or Travel Rewards
If you're looking for a credit card that can help you earn rewards on your purchases, then you might want to consider Bank of America. This financial institution offers two credit cards that are designed to help you earn cash back or travel rewards: the Bank of America Cash Rewards credit card and the Bank of America Travel Rewards credit card. In this article, we'll take a closer look at both cards so you can decide which one is the best fit for your needs.
Bank of America Cash Rewards Credit Card
The Bank of America Cash Rewards credit card is a great option for people looking to earn cash back on their everyday purchases. With this card, you can earn 3% cash back on purchases made in one of six categories of your choice, including gas, online shopping, dining, travel, drug stores, or home improvement/furnishings. You'll also get 2% cash back at grocery stores and wholesale clubs, and 1% cash back on all other purchases.
The Bank of America Cash Rewards credit card has no annual fee, and you'll earn a $200 cash rewards bonus after making $1,000 in purchases in the first 90 days of account opening. There's also a 0% introductory APR on purchases and balance transfers for the first 15 billing cycles (after that, a variable APR will apply).
One thing to keep in mind with this card is that the 3% cash back on your chosen category is limited to the first $2,500 in combined purchases each quarter. Once you reach that limit, you'll earn 1% cash back on those purchases for the remainder of the quarter.
Bank of America Travel Rewards Credit Card
The Bank of America Travel Rewards credit card is a good choice for people who want to earn travel rewards on their purchases. With this card, you'll earn 1.5 points per dollar spent on all purchases. You can redeem your points for statement credits to cover travel purchases like flights, hotels, vacation packages, and more.
Like the Cash Rewards card, the Travel Rewards card has no annual fee. There's also a 25,000-point bonus offer if you make at least $1,000 in purchases in the first 90 days of account opening.
One of the unique features of the Bank of America Travel Rewards card is that there are no blackout dates or restrictions on where you can book your travel. You can book your travel through any website or travel agency you choose, and then use your points to cover the cost.
Which One Is Right For You?
So which card is the right one for you? It really depends on your needs and spending habits. If you're looking to earn cash back on your purchases, and you spend a lot in one of the six categories listed above, then the Bank of America Cash Rewards card might be the better option. If you're someone who travels frequently and wants rewards that can be used for travel, then the Bank of America Travel Rewards card is a great choice.
Both cards have no annual fee, and offer competitive rewards and bonus offers. Whichever card you choose, be sure to use it responsibly and pay your balance off in full each month in order to avoid accruing interest charges on your purchases.
Conclusion
Bank of America offers two great credit card options in the Cash Rewards and Travel Rewards cards. Both cards have no annual fee, and offer competitive rewards and bonus offers. Ultimately, the right card for you will depend on whether you're looking to earn cash back or travel rewards on your purchases.
