Bank Of America Travel Rewards Vs Premium Rewards
Bank of America is one of the largest financial institutions in the United States, offering a wide range of services to its customers. Their credit card offerings are no exception, with two of their most popular options being the Bank of America Travel Rewards and Premium Rewards cards. In this article, we will break down the differences between the two and help you determine which one is best for your needs.
Bank of America Travel Rewards Card
The Bank of America Travel Rewards card is a great option for those who love to travel. This card offers 1.5 points for every dollar spent, with no limit on the number of points you can earn. These points can be redeemed for travel purchases, such as flights, hotels, and rental cars, at a rate of one cent per point. There are no blackout dates, and you can book your travel through any website or travel agency. Additionally, there is no annual fee for this card.
Another great benefit of the Bank of America Travel Rewards card is the sign-up bonus. If you spend $1,000 in the first 90 days of opening the card, you will receive 25,000 bonus points, which is equivalent to $250 in travel purchases.
One downside of this card is that it does charge a foreign transaction fee of 3%. If you plan on using your credit card while traveling internationally, this fee can add up quickly. Additionally, the redemption options are limited to travel purchases, so if you are looking for a card with more flexibility, this may not be the best option for you.
Bank of America Premium Rewards Card
The Bank of America Premium Rewards card is a great option for those who want more flexibility with their rewards. This card offers 2 points per dollar spent on travel and dining, and 1.5 points per dollar spent on all other purchases. These points can be redeemed for a variety of options, including cash back, travel purchases, gift cards, and more.
The sign-up bonus for the Bank of America Premium Rewards card is also quite generous. If you spend $3,000 in the first 90 days of opening the card, you will receive 50,000 bonus points, which is equivalent to $500 in travel purchases.
One downside of this card is the annual fee. The Bank of America Premium Rewards card has an annual fee of $95, which may not be worth it if you do not spend a lot on travel and dining. Additionally, the foreign transaction fee for this card is also 3%.
Which Card is Right for You?
When deciding between the Bank of America Travel Rewards and Premium Rewards cards, it ultimately comes down to your personal preferences and spending habits. If you are a frequent traveler and want to earn points specifically for travel purchases, the Bank of America Travel Rewards card is a great option. If you want more flexibility with your rewards and are willing to pay an annual fee, the Premium Rewards card may be a better fit.
Additionally, if you plan on using your credit card while traveling internationally, it is important to consider the foreign transaction fees for both cards. If you travel frequently, a card with no foreign transaction fees may be a better fit for your needs.
The Bottom Line
Both the Bank of America Travel Rewards and Premium Rewards cards offer great benefits for their customers. Ultimately, the decision of which one to choose rests on your personal preferences and spending habits. Consider the rewards programs, fees, and sign-up bonuses for both cards before making a decision.
Meta description: Bank of America offers two popular credit cards - the Travel Rewards and Premium Rewards cards. Learn about the differences between them in this in-depth guide.
Meta keywords: Bank of America, credit cards, Travel Rewards, Premium Rewards, travel, dining, rewards programs, foreign transaction fees, sign-up bonuses.
