Bank Of America Cash Rewards Vs Travel Rewards
Bank of America is one of the most popular financial institutions in the United States. They offer a variety of credit cards to suit different needs. Two of their most popular cards are the Bank of America Cash Rewards and the Bank of America Travel Rewards. But which one is better? In this article, we'll do a comparison of the two cards to help you decide which one is right for you.
Bank of America Cash Rewards
The Bank of America Cash Rewards card is a great card for everyday purchases. It offers 3% cash back on purchases made at gas stations, 2% cash back at grocery stores and wholesale clubs, and 1% cash back on all other purchases. There is no annual fee for this card, and it also offers a sign-up bonus of $200 if you spend $1,000 in the first 90 days of opening the account.
This card also has a unique feature called "Choose Your Category". This allows you to choose a category where you can earn 3% cash back. You can choose from categories like travel, dining, online shopping, and more. You can change the category once per month and it can be a great way to earn rewards on purchases you're already making.
The Bank of America Cash Rewards card also offers a 0% introductory APR for the first 12 billing cycles on purchases and balance transfers made within the first 60 days of opening the account. After that, the APR will be 13.99% - 23.99%, depending on your creditworthiness.
Bank of America Travel Rewards
The Bank of America Travel Rewards card is designed for people who love to travel. It offers 1.5 points for every dollar spent on purchases, and these points can be redeemed for travel expenses like flights, hotels, and car rentals. There is no annual fee for this card, and it also offers a sign-up bonus of 25,000 points if you spend $1,000 in the first 90 days of opening the account.
This card also has some great travel benefits. You can use the points you earn for statement credits to cover travel expenses, or you can book travel directly through the Bank of America Travel Center. There are no blackout dates or restrictions for booking travel, and you can earn unlimited points with no expiration date.
The Bank of America Travel Rewards card also offers a 0% introductory APR for the first 12 billing cycles on purchases, and the APR will be 14.99% - 22.99%, depending on your creditworthiness.
Which Card is Better?
When it comes to choosing between the Bank of America Cash Rewards and the Bank of America Travel Rewards, it really depends on your spending habits and travel preferences.
If you're someone who spends a lot on gas, groceries, and wholesale clubs, then the Bank of America Cash Rewards card might be a better option for you. The 3% cash back on gas and 2% cash back on groceries and wholesale clubs can add up quickly, especially if you use the "Choose Your Category" feature to get 3% cash back on purchases you're already making.
However, if you're someone who loves to travel and want to earn points for travel expenses, then the Bank of America Travel Rewards card might be a better fit. You can earn 1.5 points for every dollar spent on purchases, and these points can be redeemed for travel expenses like flights, hotels, and car rentals. Plus, there are no blackout dates or restrictions for booking travel.
Conclusion
Overall, both the Bank of America Cash Rewards and the Bank of America Travel Rewards are great credit cards with their own unique benefits. When choosing between the two, it's important to consider your spending habits and travel preferences. No matter which card you choose, you'll be able to earn rewards on purchases you're already making, and that's always a win.
