Bank Of America Travel Rewards International Transaction Fee
Traveling abroad can be an exciting and enriching experience, but it can also come with a few financial challenges. One of them is the international transaction fee that many credit card issuers charge whenever you use your card in a foreign country. Fortunately, Bank of America Travel Rewards Credit Card offers a way to avoid this fee and earn rewards on your international spending.
What is Bank of America Travel Rewards Credit Card?
Bank of America Travel Rewards Credit Card is a travel credit card that rewards you for your travel-related expenses. The card offers unlimited 1.5 points per $1 spent on all purchases, with no expiration date or blackout dates. You can redeem your points for travel purchases, including flights, hotels, vacation packages, car rentals, and more, with no restrictions or fees.
In addition to the points, the card offers a sign-up bonus of 25,000 points after you spend $1,000 on purchases in the first 90 days of account opening. This bonus is worth $250 in travel statement credits.
What is an International Transaction Fee?
An international transaction fee, also known as a foreign transaction fee, is a fee that credit card issuers charge whenever you use your card outside of the United States. The fee is usually a percentage of the transaction amount, typically around 3%.
The fee is charged to cover the costs of currency conversion and processing of international transactions. It can add up quickly, especially if you travel frequently or make large purchases abroad.
How to Avoid International Transaction Fee with Bank of America Travel Rewards Credit Card?
Bank of America Travel Rewards Credit Card does not charge an international transaction fee. This means that you can use your card to make purchases abroad without having to worry about the additional fee.
To take advantage of this benefit, you must use your card for purchases in foreign currencies. If you use a foreign currency to make a purchase with your card, Bank of America will convert the currency at the current exchange rate, without any additional fees.
However, if you perform any cash advance or ATM transactions abroad, including withdrawing cash, you will be subject to a fee of either $10 or 5% of the transaction amount, whichever is greater.
How to Maximize Your Travel Rewards?
Bank of America Travel Rewards Credit Card offers several ways to maximize your travel rewards.
First, make sure you use your card for all travel-related expenses, such as flights, hotels, and car rentals, to earn 1.5 points per $1 spent. You can also earn additional points by shopping through Bank of America's online marketplace, which offers discounts and bonus points on select merchants.
Second, take advantage of the sign-up bonus by spending $1,000 on purchases in the first 90 days of account opening. This will earn you 25,000 points, which is worth $250 in travel statement credits.
Third, consider pairing your Bank of America Travel Rewards Credit Card with another travel credit card that offers bonus points on specific travel categories, such as dining, gas, or entertainment. This can help you earn more rewards on your everyday spending.
Conclusion
Bank of America Travel Rewards Credit Card is a great credit card for frequent travelers who want to earn rewards on their travel-related expenses without paying an international transaction fee. By using this card for all your travel purchases, you can earn unlimited 1.5 points per $1 spent and redeem your points for travel statement credits with no restrictions or fees.
To avoid any additional fees, make sure you use your card for purchases in foreign currencies and avoid cash advance or ATM transactions abroad. By maximizing your travel rewards with Bank of America Travel Rewards Credit Card, you can make your next international trip more rewarding and less expensive.