Review Of Bank Of America Travel Rewards Card
If you are a frequent traveler, having a travel rewards credit card can be a great way to earn rewards and save money. One such card is the Bank of America Travel Rewards Card, which offers a range of benefits to its cardholders. In this review, we will take a look at the features, perks, and drawbacks of the Bank of America Travel Rewards Card to help you decide if it is the right card for you.
Features of the Bank of America Travel Rewards Card
The Bank of America Travel Rewards Card is a Visa card that offers 1.5 points per dollar spent on all purchases, with no limits on how many points you can earn. This means that you can accumulate points quickly and easily, and there is no need to worry about hitting a spending cap.
One of the main features of the Bank of America Travel Rewards Card is the sign-up bonus. New cardholders can earn 25,000 bonus points when they make $1,000 in purchases within the first 90 days of account opening. This is equivalent to $250 in travel statement credits, which can be used to pay for flights, hotels, car rentals or other travel-related expenses.
The Bank of America Travel Rewards Card also offers an introductory 0% APR for the first 12 billing cycles on purchases (after that, a variable APR of 14.99% - 22.99% applies). This can be a great way to finance a big purchase or pay off a balance without accruing interest.
Perks of the Bank of America Travel Rewards Card
The Bank of America Travel Rewards Card offers a range of perks to its cardholders. One of the biggest perks is the flexibility of the rewards. The points you earn with the card can be redeemed for a statement credit to cover travel-related purchases, or they can be redeemed for cash back, gift cards, or merchandise. This gives you the freedom to choose how you want to use your points.
The Bank of America Travel Rewards Card also offers no foreign transaction fees, which can save you a lot of money when traveling overseas. Additionally, the card comes with a range of travel and shopping protections, including trip cancellation/interruption insurance, auto rental collision damage waiver, and purchase security.
Drawbacks of the Bank of America Travel Rewards Card
While the Bank of America Travel Rewards Card has many benefits, there are also some drawbacks to consider. One of these is that the rewards rate of 1.5 points per dollar spent is not as high as some other travel rewards cards on the market. However, the lack of an annual fee can make up for this for many people.
Another drawback of the Bank of America Travel Rewards Card is that it does not offer any bonus categories for earning extra points. This means that you will earn the same amount of points regardless of what you spend your money on.
Conclusion
The Bank of America Travel Rewards Card is a solid choice for travelers who want a simple and straightforward rewards program without an annual fee. The flexibility of the rewards, combined with the lack of foreign transaction fees and valuable sign-up bonus, make it a great option for those looking to earn travel rewards in a hassle-free way. However, if you are looking for a card with bonus categories or a higher rewards rate, you may want to consider other options.