Bank Of America Travel Rewards Card Benefits

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Bank Of America Travel Rewards Card Benefits

The Bank of America Travel Rewards Credit Card is one of the few travel cards that has no annual fee. In addition to earning 1.5 points per dollar spent, you pay no foreign transaction fees and can use points for purchases abroad up to 12 months in advance.

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Take a closer look at this free travel rewards card and how it fits your wallet.

If credit cards don’t offer annual fees or foreign travel and dining expenses, consider the Bank of America Travel Rewards Card.

All purchases earn 1.5 points per dollar. Even better, Bank of America Preferred Rewards members can save up to 75% off.

Since this card has no annual fee, it can be a good option for casual travelers who can’t justify getting a card with more benefits but also has an annual fee.

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Frequent travelers may also like this card, as you can redeem travel and dining credits on recent purchases. Unfortunately, many travel cards require points to be redeemed for future trips, which can frustrate some travelers.

The current sign-up bonus is 25,000 points spent on $1,000 in purchases in the first 3 months, plus a $250 travel and dining credit.

You can get this bonus even if you have another Bank of America credit card. Sometimes, if you have the same product from the same bank, you may not get the signup bonus.

For the first 15 months, you get 0% APR on purchases. The balance of the weighted interest is added to the constant annual interest rate after the end of this introductory period.

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All three insurance premiums are competitive with similar carriers. Bank of America members with eligible account balances can earn up to 75% more on purchases with the Preferred Rewards Program.

Book travel at the Bank of America Travel Center and earn 3 points per $1 instead of the standard 1.5 times.

No annual fee makes this a great option if you only travel a few times a year or don’t buy cards often.

Travel cards with an annual fee usually offer more benefits. But to justify the annual fee, you’ll need to make a profit or buy a bonus at that time.

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You also don’t pay for purchases abroad. A growing number of zero-year travel loans are being used to stop shopping abroad. However, some banks still pass this fee on to cardholders.

For this reason, this card is ideal for travel in the United States or abroad where Visa credit cards are accepted.

Many car rental companies in the US and abroad offer secondary collision and theft coverage. This benefit is standard on Visa Signature cards that are covered by the Rental Car Collision Waiver (CDW).

You can track your FICO score for free with Bank of America. Most platforms only offer VantageScore, which is not used by the financial industry to make credit decisions. Regular FICO score updates make it easy to get the best travel credit card.

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Bank of America customers can use their Travel Rewards card for added protection. If Bank of America deposits the excess, your money will earn interest at the cash annual interest rate.

The most valuable way to get back is with a credit card for travel and dining purchases in the last 12 months. In comparison, similar cards require points to be redeemed within 90 days of purchase.

Redemption of points for purchases at the restaurant is a plus. This redemption option is useful if the number of trips has decreased because you can use the points while staying at home.

Unfortunately, the redemption fee is $0.006. (0.6 cents) per point and you need to redeem 3,600 points ($21.60). Reimbursement for travel and meals is a better option.

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Retail and restaurant gift cards are another way to purchase, but the redemption fee is $0.006 per point. As for cash rewards, the minimum redemption is 3,600 points.

The Bank of America Rewards program starts at $95 per year, but often offers several benefits that are beneficial to cardholders.

Earn double the points on travel and dining purchases (including meals through 12/31/2021). All non-bonus purchases earn 1.5 points.

Two additional benefits to look out for are a $100 Global Entry or TSA PreCheck application fee credit and a $100 annual airline incident fee.

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Capital One VentureOne has no annual fees and no external transactions. Purchases earn up to 1.25 miles and Capital One travel purchases earn up to 5 miles.

Since you only need to spend $500 in your first 3 months, earning loyalty rewards is even easier. However, you will only earn 20,000 points ($200) instead of 25,000 points.

Pursuit Freedom itself markets Unlimited Money as a cash rewards card, but each point has the same cash back value of $0.01. USA for cash, travel and gift card rewards.

The card also earns at least 1.5 terminal rewards per dollar spent and does not expire.

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The signup bonus is $200 after spending for the first 3 months. Earn 5% on product purchases for the first 12 months.

The American Express Everyday Cashback Card is an annual fee card that offers 3% cash back on purchases.

Chase Ultimate Rewards earn 5x points on travel purchases and 2x points on other travel spend. Restaurant purchases earn 3x points and free purchases earn 1x.

You’ll also receive an annual bonus of 10% of your total purchases over the past 12 months for each card renewal

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1.25 cents per point on travel voucher purchases through Chase and 1 cent on cash rewards and gift cards.

You can transfer them 1:1 to dozens of airline and hotel travel partners.

An additional benefit of the note is an annual hotel credit of USD 50. This brings your effective annual price down to $45.

Another reason to consider this card is its solid bonus code. Spend $4,000 in the first 3 months and earn up to $60,000 in rewards worth $750 in travel.

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Card purchases earn 1.5x unlimited points. Travel purchases through the Bank of America Travel Center earn 3 points per dollar spent.

You’ll need a minimum balance of $20,000 in your Bank of America and Merrill accounts to start earning 25% points. An active US bank checking account is also required.

Eligible travel purchases include airfare, hotels, car rentals, schedules, vacation rentals, campsites, itineraries, attractions, parking, and taxes.

Each point is worth $0.01. US for travel and dining credits and $0.006 USA for cash or gift cards.

How To Apply For A Bank Of America Travel Rewards Credit Card

The minimum limit for travel and meal statements is 2,500 points. Cash and gift card rewards require a minimum of 3,600 points.

No, your reward points will not expire as long as your Bank of America Travel Rewards account is open.

0% APR on purchases for the first 15 months. The constant variable MAR is between 13.99% and 23.99%.

Bank of America Travel Rewards is one of the best travel credit cards of the year because you earn 1.5x points on purchases and no foreign transaction fees.

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While travel and dining credits make it easy to top up your points, the $25 minimum redemption is disappointing.

You can also invest in a travel credit card that pays $100 or less with few additional fees.

The opinions expressed here are solely those of the author and not those of any bank, credit card issuer, hotel, airline or other entity. This content has not been verified, approved or otherwise verified by the entities included in the publication.

Josh Patoka writes about maximizing your vacation travel rewards. It also participates in several personal finance websites that specialize in payments

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