Bank Of America Travel Rewards Card International Fees
Are you planning a trip abroad? If so, you might want to consider using the Bank of America Travel Rewards credit card. The card has no annual fee and allows you to earn points that can be redeemed for flights, hotels, and other travel-related expenses. However, one thing you need to know before using the card abroad is its international fees. Read on to learn more.
What Are The International Fees?
The Bank of America Travel Rewards card charges a 3% foreign transaction fee for every purchase made outside of the United States. This means that if you use your card to buy a souvenir in Paris that costs $50, you will be charged an additional $1.50 in foreign transaction fees. This fee is added to your total purchase price and will appear on your credit card statement.
Is There A Way To Avoid The Fees?
Unfortunately, there is no way to avoid the foreign transaction fees with the Bank of America Travel Rewards card. The only way to avoid them is to use a credit card that does not charge these fees. However, if you have already applied for the Bank of America Travel Rewards card and plan to use it abroad, there are some things you can do to minimize the fees:
- Use the card sparingly and in emergencies only
- Withdraw cash from ATMs rather than using the card for purchases
- Pay with cash or traveler's checks instead of using the card
Is The Card Worth Using Abroad Despite The Fees?
Despite the foreign transaction fees, the Bank of America Travel Rewards card can still be worth using abroad. The card allows you to earn 1.5 points per dollar spent on all purchases, including those made abroad. Additionally, the card does not charge an annual fee or a fee for balance transfers, making it a good choice for those who want to avoid these charges.
Conclusion
If you plan to use the Bank of America Travel Rewards card abroad, be aware of the 3% foreign transaction fee charged for every purchase made outside of the United States. While there is no way to avoid these fees, you can minimize them by using the card sparingly and for emergencies only, withdrawing cash from ATMs, or paying with cash or traveler's checks. Despite the fees, the card can still be a good choice for those who want to earn points on their travel-related expenses and avoid other fees such as annual fees and balance transfer fees.