The Bank of America Travel Rewards card is my favorite travel credit card. The current offer for new cardholders is 20,000 bonus points after you spend $1,000 in purchases within the first 3 months.
Points can be redeemed in the following 3 ways:
- Travel Statement Credit (Best Value)*: 2,500 points = $25
- Gift Card: 3,125 points = $25
- Cash: 4,166 points = $25
Therefore, the 20,000 bonus points translates to $200 with the Travel Statement Credit.
There is the opportunity to earn bonus points through the Bank of America Travel Center and earn 3 points per $1 spent on qualifying purchases.
Other benefits include:
- 1.5x points per $1 spent on every purchase
- No blackout dates – any airline, any hotel, anytime
- No expiration on points
- No annual fee
- No foreign transaction fees
- Earn extra points with the enrolled Preferred Rewards program
My favorite benefits are no foreign transaction fees (3% on most credit cards) and extra points with the Preferred Rewards program.
Preferred Rewards Program
- Gold: Minimum Bank of America/Merrill Edge balances of $20,000; 25% points bonus = 1.875x points on every purchase
- Platinum: Minimum Bank of America/Merrill Edge balances of $50,000; 50% points bonus = 2.25x points on every purchase
- Platinum Honors: Minimum Bank of America/Merrill Edge balances of $100,000; 75% points bonus = 2.625x points on every purchase
Therefore, if you are eligible for Platinum Honors, you can get 2.625x points on all of your purchases with this card. This is one of the highest cashback amounts you can get from any non-rotating category credit card.
The Bank of America Travel Rewards card is one of the best cards for travel. It has no annual fee, no foreign transaction fees, and up to 2.625x points on all purchases. You also can get $200 tax free from the sign up bonus. By using this card while you travel you can carry less cash, save money on fees, and earn rewards points that can be applied to statement credits.
*List of categories qualifying for a Travel Statement Credit within 12 months: