Bank of America Travel Rewards | Credit Card Benefits - Apply Now

Updated on 19 Dec, 2023 - Est. mins read

Bank of America Travel Rewards &Credit Card Benefits

Bank of America is one of the most reputed providers of credit cards. It offers a variety of travel rewards via its cards too. If you need to travel often, here is everything you would probably like to know more about Bank of America travel rewards and credit card benefits.

 

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What is the Bank of America Travel Rewards Program?

Bank of America has a Travel Rewards program, according to which you can earn points when you use your card for everyday purchases.

You don’t need to pay money to participate in the program, and you and your authorized users will be automatically enrolled in it.

 

How do Bank of America Travel Rewards Work?

When you spend $1 with an eligible Bank of America card, you will earn 1.5 base points.

You can also earn a Customer Points Bonus or 10% more Points or Preferred Rewards/Banking Rewards for Wealth Management Bonus if you are qualified and enroll. It lets you earn 25%–75% more points.

You can redeem the points you earn as travel credit, gift cards, or cashback. The redemptions start at 2,500 Points, and the Bank of America business travel rewards points don’t expire for as long as your account remains in good standing.

 

Which Bank of America Cards Earn Travel Rewards?

There are many Bank of America credit cards that earn travel rewards. Some of them are Bank of America Travel Rewards credit card, Bank of America Premium Rewards Elite Credit Card, and Bank of America Travel Rewards Credit Card for Students. They are explained later on this page.

 

What Are the Benefits & Fees Associated with the Bank of America Travel Rewards Credit Card?

  • Annual fee

    This is basically the cost of the card. You need to pay it by a set date every year to keep using the card.

  • Foreign transaction fee

    This fee is applicable only if you do a foreign transaction. The rate varies from card to card.

  • Balance transfer fee

    It is a fee that a lender imposes to transfer an existing debt of a client from another lender or institution.

  • Cash advance fee

    It is a fee that is charged when you withdraw cash by using a credit card.

  • Late payment fee

    It is a fee that is imposed when you fail to make the payment on a debt by the due date.

 

Top Bank of America Travel Rewards Credit Cards

  1. Bank of America Travel Rewards Credit Card- Best for No Annual Fee

    With zero annual fee and a welcome bonus or 25,000 online bonus points that convert to a $250 statement credit value toward travel purchases, this card is a good choice. To get the welcome bonus, you need to spend $1,000 within 90 days.

    The card also allows you to earn 1.5X points per dollar and 3X points on Bank of America Travel Center purchases. It also has great perks like flexible travel rewards and no foreign transaction fees.

  2. Bank of America Premium Rewards Credit Card- Best for Occasional Travelers

    Considered one of the best cards for occasional travelers, it allows you to get $60,000 if you manage to spend $4,000 on purchases within the first 90 days.

    It comes with an annual fee of $95 and offers 2X points per dollar on travel and dining and 1.5X points per dollar on all other purchases (no caps).

    Other perks include up to $100 in statement credits annually for incidental airline expenses to take care of eligible costs and up to a $100 statement credit toward Global Entry or TSA PreCheck application fees every four years.

    The card also has no foreign transaction fees.

  3. Bank of America Premium Rewards Elite Credit Card: Best for Frequent Travelers

    A credit card loved by most frequent travelers, it comes with a generous bonus of 75,000 online bonus points (worth about $750) if you spend at least $5,000 within the first 90 days.

    It offers unlimited 2X points on dining and travel purchases, and you get unlimited 1.5X points on all other purchases.

    The annual fee is steep at $550, but the perks might be worth it.

    You get up to $300 annually in airline incidental statement credits that you can use for qualifying purchases and up to $150 annually for eligible lifestyle conveniences like food delivery, fitness subscriptions, video streaming services, and rideshare services).

    It also offers up to a $100 statement credit toward Global Entry or TSA PreCheck application fees once every four years.

    You also get a complimentary Priority Pass membership and 20 percent off on domestic or international airfare for any class when you pay with points.

  4. Bank of America Travel Rewards Credit Card for Students: Best for Students

    A great option for students, this Bank of America card offers a welcome bonus of 25,000 points that you can get only after spending $1,000 within the first 90 days.

    It has a simple reward rate of 1.5X points on all purchases and no annual fee.

    Other key perks offered by the card include flexible travel rewards and no foreign transaction fee.

 

How to Earn Bank of America Travel Rewards?

The process of earning Bank of America travel rewards is simple. You need to use your card, and you will get the rewards automatically. The points never expire, so you can use them anytime you want.

 

How to Redeem Bank of America Travel Rewards?

How to Redeem Bank of America Travel Rewards

The answer to how to redeem Bank of America travel rewards is also straightforward. You just need to make a restaurant or travel-related purchase with the card you have and then redeem the points for statement credit, as it will help offset the purchase.

When redeemed for travel, the points are worth 1 cent apiece. As Bank of America’s card has a wider reach, stuff like art galleries, zoos, amusement parks, circuses, aquariums, etc., are also included in the definition of travel.

You also have the option of redeeming the points for gift cards or for making a cash deposit into a Bank of America®, Merrill Edge®, or Merrill Lynch account. ® This method is not recommended generally as you get a much lower redemption value per point.

 

How to Maximize Bank of America Travel Rewards Points?

How to Maximize Bank of America Travel Rewards Points

There are many ways to maximize Bank of America travel rewards points. Some of them are:

  1. Join the Bank of America Preferred Rewards Program

    You can earn more Bank of America travel rewards by signing up for the Bank of America Preferred Rewards program. After doing so, you can earn 25 percent to 75 percent more in rewards for every dollar spent by you.

    Please ensure that you meet the qualifications to enroll in this program:

    +   You must have an active, eligible Bank of America checking account.

    +   Your three-month average combined balance must be $20,000 or more in eligible Bank of America accounts and/or Merrill investment accounts.

    To get the Gold Tier, you need to have a 3-month combined average daily balance between $20,000 to $49,999 to get 25% more.

    For Platinum Tier, you need to have a 3-month combined average daily balance between $50,000 to $99,999 and get 50% more.

  2. Compare Pricing in the Travel Portal

    Another smart way to maximize Bank of America travel rewards is by making your bookings with Bank of America Travel Center, which has over 200,000 hotels and resorts and over 200 airlines, among other options.

    As some Bank of America travel rewards credit cards allow you to redeem your points for either travel-related statement credits or travel booked through the Bank of America Travel Center, it’s wise to compare the prices offered in the travel portal with other travel sites and ensure you get the best deal.

  3. Pick a Card with an Annual Fee

    Not many people realize that a credit card with an annual fee usually comes with more benefits and perks that you might miss out on if you choose a credit card with no annual fee.

    For instance, when you use a Bank of America Premium Rewards card and pay $95 as the annual fee, you get higher rewards rates on travel and dining spending.

    You also get up to a $100 annual credit for incidental airline expenses that help you to cover eligible costs.

    You also get up to a $100 application fee credit toward Global Entry or TSA PreCheck membership every four years. All these benefits are worth the annual fee!

 

Who Should Get the Bank of America Travel Rewards Card?

Anyone who has to travel or likes doing so must go for a Bank of America Travel Rewards card.

Whether you are a professional, a business owner, or a student, you can easily find a card that meets your expectations and suits your requirements.

And yes, you can have multiple cards to maximize your Bank of America travel rewards card benefits.

 

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Conclusion

Bank of America travel rewards are beneficial for most customers. You just need to pick from the options available.

Compare all the options and review which benefits you can maximize and how before making a final decision.

 

Bank of America Travel Rewards FAQs

Is the Bank of America® Travel Rewards credit card a good credit card?

Yes, with 25,00 bonus points, reward rates of 1.5X points per dollar, 3X points on Bank of America Travel Center purchases, and many other perks, it’s a great choice.

How much are Bank of America Travel Rewards points worth?

The worth of Bank of America travel rewards can vary.

Generally, the points are worth 1 cent apiece when redeemed for travel.

How do I use Bank of America Travel Rewards?

You can use the Bank of America travel rewards for booking flights, hotels, and stuff like art galleries, zoos, amusement parks, circuses, aquariums, etc.

How much is 25000 travel points Bank of America?

In some cases, 25,000 travel points can mean a $250 statement credit toward travel purchases.

What is included in Bank of America Travel Rewards?

In addition to flights and hotels, stuff like art galleries, zoos, amusement parks, circuses, aquariums, etc., is also included in Bank of America travel rewards.

Do Bank of America Travel Rewards expire?

No, Bank of America travel rewards don’t expire for as long as your account remains in good standing.

What credit score do you need to apply for the Bank of America Travel Rewards credit card?

In most cases, you need to have a credit score of 670 or more to apply for a Bank of America travel rewards credit card.

Does the Bank of America Travel Rewards Card have travel insurance?

Yes, Bank of America Travel Rewards Card has travel insurance.

How does the Bank of America® Travel Rewards credit card rewards rate compare with other rewards cards?

The Bank of America® Travel Rewards credit card rewards rate of 1.5 per dollar you spend is decent when compared with other rewards cards.

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