The Amtrak Rewards MasterCard is a rewards credit card that is best suited for people who frequently travel with Amtrak. There is currently a signup bonus available to new members however there is no introductory APR offered at this time. The Amtrak Rewards MasterCard comes with World MasterCard benefits. It was recently introduced by Bank of America after Amtrak ended its credit card relationship with Chase. This card has an annual fee of $79 which is not waived.
New account holders can earn 20,000 bonus points after making at least $1,000 in qualifying net purchases within the first 90 days that your account is open. Net purchases are the total amount of transactions minus any credits, returns or other adjustments. Additionally, cash-like transactions such as the purchase of traveler’s checks, money orders or foreign currency as well as fees are not considered qualifying purchases. Note: Once you have met the spending threshold, it may take 8-12 weeks for the bonus points to post to your Amtrak Guest Rewards Account.
New members receive a complimentary Companion Coupon, One-Class Upgrade and a single-day Club Acela pass for access to Club Acela, Amtrak Metropolitan Lounge or First Class lounges upon account opening. The specific details are:
- The Companion Coupon is valid for one free companion rail fare with the purchase of one regular (full) adult rail fare.
- The free companion and the paying passenger must reserve at the same time and travel together at all times.
- Travel can be either one-way or round trip.
- If round-trip, both directions of travel must be reserved at the same time.
- Blackout dates apply.
- One-Class Upgrade coupon is available for space-available, one-way, one-class upgrade (Coach to Business Class or Acela Business Class to Acela First Class).
- The Upgrade coupon is not valid to upgrade to sleeping car accommodations.
- The Club Acela pass will be mailed within two weeks of account opening.
Cardholders earn points at the following rates:
- 3X points for every dollar spent on Amtrak travel and onboard purchases
- 2X points for every dollar spent on non-Amtrak travel merchants (including airlines, car rental agencies, hotels, motels, inns, resorts, cruise lines and travel agencies)
- 1X point for every dollar spent on all other purchases
Note: To earn triple points, transactions must indicate Amtrak as the merchant of record.
There is no limit to the amount of points you can earn. Points never expire as long as your account remains open, active and in good standing.
Points may be redeemed for the following:
- Free Amtrak travel – starting at 800 points
- Hotel stays – starting at 5,000 points
- Car rentals – starting at 6,000 points
- Gift cards – starting at 6,000 points
There is a 5% point rebate every time you redeem points for Amtrak Award travel.
The variable APR on purchases and balance transfers is 13.24% to 23.24% based on your creditworthiness at the time of approval. In addition, a balance transfer fee of $10 or 3% of the total amount of the transfer (whichever is greater) is applied to each balance transfer which posts to your account.
Account holders can earn 1,000 Tier Qualifying Points (TQPs) towards earning status every time your eligible spending reaches $5,000 in a calendar year (capped at 4,000 TQPs per year).
Card members receive these additional World MasterCard benefits:
- Worldwide Acceptance – More than 32 million locations around the globe
- Global Services – 24/7 assistance with travel-related emergencies such as lost or stolen card replacement and cash advances
- Global Concierge – Available 24/7 to help with hotel accommodations, dining reservations, gift purchases and more
This card comes with EMV chip technology for enhanced security when making purchases at a chip-enabled terminal.
Members are not charged foreign transaction fees when using the card while traveling outside of the U.S.
There is an annual fee of $79 for the Amtrak Rewards MasterCard. This fee is assessed before you begin using your card and will immediately reduce your available credit line. (For example, if your credit line is $500, then your initial available credit will be around $421.)
The Facts
Below we have broken down the specific details of the Amtrak Rewards MasterCard to help you decide if it’s a good choice for you.
The Good:
Signup bonus:
New account holders can earn 20,000 bonus points after making at least $1,000 in qualifying net purchases within the first 90 days that your account is open. Net purchases are the total amount of transactions minus any credits, returns or other adjustments. Once you satisfy the spending requirement, it may take 8-12 weeks for the bonus points to post to your Amtrak Guest Rewards Account.
Note: The 20,000 bonus points are enough to redeem for award travel to many of Amtrak’s 500+ destinations.
Additional new member offer:
New members receive a complimentary Companion Coupon, One-Class Upgrade and a single-day Club Acela pass for access to Club Acela, Amtrak Metropolitan Lounge or First Class lounges upon account opening.
Simple rewards program:
Cardholders earn points at the following rates:
- 3X points for every dollar spent on Amtrak travel and onboard purchases
- 2X points for every dollar spent on non-Amtrak travel merchants (including airlines, car rental agencies, hotels, motels, inns, resorts, cruise lines and travel agencies)
- 1X point for every dollar spent on all other purchases
Easy to redeem points:
Points may be redeemed for the following:
- Free Amtrak travel – starting at 800 points
- Hotel stays – starting at 5,000 points
- Car rentals – starting at 6,000 points
- Gift cards – starting at 6,000 points
Points are not capped:
There is no limit to the amount of points you can earn.
Points never expire:
Points do not expire as long as your account remains open, active and in good standing.
5% point rebate:
There is a 5% point rebate every time you redeem points for Amtrak Award travel.
No foreign transaction fees:
There are no foreign transaction fees for purchases made on the card while traveling internationally.
The Bad:
Wide range of APRs:
The variable APR on purchases and balance transfers is 13.24% to 23.24% based on your creditworthiness at the time of approval. Depending on your credit score, you could be looking at a very high APR.
Annual fee:
There is an annual fee of $79 for this card which is not waived. In fact, this fee is assessed before you even use the card and immediately reduces your available credit line.
No introductory APRs:
There are no introductory APRs available with the Amtrak Rewards MasterCard making it a poor choice for big-ticket purchases or balance transfers.
The Ugly:
Rewards favor Amtrak travelers:
There are different redemption options available to card members but the best rate of return is for train travel. People who don’t regularly choose Amtrak for their travel needs will find it hard to earn meaningful travel rewards. However, if you would use the Companion Coupon or if you frequently travel on Amtrak and would benefit from the 5% point rebate – then this card might be worth it.
The Amtrak Rewards MasterCard is also offered as a Platinum MasterCard. It comes with different terms and benefits and has no annual fee. A quick highlight shows:
- New member bonus – 12,000 bonus points after spending $1,000 in purchases within the first 90 days.
- Earn points – Double points on Amtrak purchases. One point on all other purchases.
- 5% point rebate – When you redeem for Amtrak travel.
- No point limit – There is no cap on the amount of points you can earn.