Earn $250 Back After Spending $1,000 With This Credit Card
KEY POINTS
- The welcome bonus for this Bank of America credit card is pretty easy to achieve and easy to use.
- The highest point redemption value for the card is using points for statement credits to cover travel and dining purchases.
- This card has no foreign transaction fees or annual fee.
Bank of America credit cards come with appealing features that are easy to use, achievable welcome bonuses, and more. I'm a fan of the Bank of America® Travel Rewards credit card; it was my first travel credit card. These days, I recommend it to others who want the perks of travel cards without the features that sometimes make these cards a head-scratcher. Let's take a closer look at its features and welcome bonus. Is this credit card a good fit for your wallet?
Bank of America® Travel Rewards credit card
Featured offer: save money while you pay off debt with one of these top-rated balance transfer credit cards
On Bank of America's Secure Website.
= Best
= Excellent
= Good
= Fair = Poor
= Best
= Excellent
= Good
= Fair = PoorOn Bank of America's Secure Website.
Good/Excellent (670-850)
Intro APR 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 19.24% - 29.24% Variable APR on purchases and balance transfers will apply. A 3% for 60 days from account opening, then 4% fee applies to all balance transfers.
Purchases: 0% Intro APR for 15 billing cycles for purchases
Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
Regular APR
19.24% - 29.24% (Variable)
Rewards
1.5 points per dollar
Annual Fee
$0
Welcome Offer 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases
25,000 points
-
This is a good starter travel card thanks to its simplicity and no annual fee. It offers a strong welcome bonus worth 25,000, unlimited 1.5 points per dollar on all purchases, and no foreign transaction fee. Simply redeem points as a statement credit for travel or dining purchases. The generous 0% Intro APR for 15 billing cycles for purchases offer might come in handy if you want to pay-off an expensive trip over time without interest. It’s a particularly good fit for Bank of America Preferred Rewards members, who can earn 25%-75% more points on every purchase (depending on your tier). Read Full Review
-
- Big sign-up bonus
- No annual fee
- Competitive rewards rate on purchases
- Great 0% intro APR offer on purchases and balance transfers
- Limited ways to use points
-
- Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.
- 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
- Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
- Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 19.24% - 29.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
- If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
A straightforward welcome bonus
One of my favorite things about Bank of America cards is how accessible the welcome bonuses tend to be. This card is no exception. If you spend $1,000 in the first 90 days with the card, 25,000 points can be yours. Redeem these as a statement credit for travel and dining expenses and they'll be worth $250. The lower spend amount should be quite achievable for most people -- you only need to spend about $333.33 per month for three months to get there.
Points earning and redemptions
One of the most frustrating things about many travel rewards credit cards is how complicated they can be to manage. Different purchases earn points or miles at different rates, and it can be difficult to do the math on how much you'll earn in the end.
The Bank of America® Travel Rewards credit card, however, is about as straightforward as they come, which is why I talk it up to credit card newbies. With this card, you earn a flat 1.5 points per $1 across all your spending. (You can get a higher rate if you're a Bank of America Preferred Rewards member -- depending on your tier, you could earn as much 2.62 points per $1.) There are no bonus categories to keep track of, and there's no spending cap, either -- spend $20,000 per year with this card, and your reward will be 30,000 points.
As far as redemptions go, the easiest option is to redeem your points for statement credits to cover travel and dining costs. Used this way, your points are worth $0.01 each and start at 2,500 points -- for example, you could redeem 5,000 points for a $50 statement credit. You can also book flights, hotels, rental cars, and activities through the Bank of America travel portal (and earn 3 points per $1 on money spent there). You can redeem your points for cash or gift cards, but these are lower value redemption options.
Other perks
This is a travel rewards card, and like any good one worth its salt, the Bank of America® Travel Rewards credit card has no foreign transaction fees, making it a good companion for your travels outside the U.S. And unlike a lot of travel cards, this one comes without an annual fee.
On Bank of America's Secure Website.
= Best
= Excellent
= Good
= Fair = Poor
= Best
= Excellent
= Good
= Fair = PoorOn Bank of America's Secure Website.
Good/Excellent (670-850)
Intro APR 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 19.24% - 29.24% Variable APR on purchases and balance transfers will apply. A 3% for 60 days from account opening, then 4% fee applies to all balance transfers.
Purchases: 0% Intro APR for 15 billing cycles for purchases
Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
Regular APR
19.24% - 29.24% (Variable)
Rewards
1.5 points per dollar
Annual Fee
$0
Welcome Offer 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases
25,000 points
-
This is a good starter travel card thanks to its simplicity and no annual fee. It offers a strong welcome bonus worth 25,000, unlimited 1.5 points per dollar on all purchases, and no foreign transaction fee. Simply redeem points as a statement credit for travel or dining purchases. The generous 0% Intro APR for 15 billing cycles for purchases offer might come in handy if you want to pay-off an expensive trip over time without interest. It’s a particularly good fit for Bank of America Preferred Rewards members, who can earn 25%-75% more points on every purchase (depending on your tier). Read Full Review
-
- Big sign-up bonus
- No annual fee
- Competitive rewards rate on purchases
- Great 0% intro APR offer on purchases and balance transfers
- Limited ways to use points
-
- Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.
- 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
- Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
- Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 19.24% - 29.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
- If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Should you get the Bank of America® Travel Rewards credit card?
The extra value conferred upon this card for Bank of America Preferred Rewards members makes it worth considering for those folks. Beyond that -- if you're looking for a simple travel credit card and don't want to muck about with bonus categories, this is a good option for sure. If you'd rather earn points or miles at a higher rate for travel spending, restaurant meals, and other popular bonus categories, keep looking.
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Our Research Expert
Ashley Maready changed careers from museum operations and management to writing and editing in 2021. She has a passion for teaching others about better living through improving your finances.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
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