The BankAmericard Travel Rewards Visa takes the hassle out of earning and redeeming travel rewards. It offers members an easy way to accumulate points on everyday purchases which can then be used for all types of travel- hotels, vacation packages, flights, cruises or rental cars. There’s no worrying about where you have to make purchases or how much you have to spend.
Bank of America is currently offering an exclusive online promotion to new card members of 20,000 bonus points when you spend at least $1,000 on the card within the first 90 days of activation. These bonus points can be redeemed for a $200 statement credit towards any travel purchase. Cardholders earn 1.5 points on all purchases (including travel) made with the BankAmericard Travel Rewards Visa. There is no limit as to how many points you can earn and the points never expire. Plus, there are no bothersome blackout dates or rotating categories to keep track of.
New account holders can take advantage of a 0% introductory APR on purchases for the first 12 billing cycles following the opening of your account. After this promotional period ends, your specific APR will be between 14.99% and 22.99% (variable tied to the Prime Rate) based on your creditworthiness at the time of approval.
There is no introductory APR currently offered on balance transfers. The same variable rate that applies to purchases (after the promotional rate ends) immediately applies to balance transfers. Additionally, a balance transfer fee of $10 or 3% of the total amount of the transfer (whichever is greater) is charged for each completed balance transfer.
The BankAmericard Travel Rewards Visa comes with no annual fee and no foreign transaction fees making it a good choice for people who want a simple way to earn travel rewards without paying a lot of fees. This card delivers solid value if you frequently travel internationally and aren’t tied to an airline or hotel loyalty program.
For people who already have an active Bank of America checking or savings account, the BankAmericard Travel Rewards Visa offers an additional 10% in customer bonus points with every purchase made on the card. This feature allows cardholders to accumulate points even more quickly.
Below we’ve broken down the specifics of the BankAmericard Travel Rewards Visa to help when deciding if it’s the right card for you.
New card members can earn 20,000 bonus points when applying online and upon approval. To qualify, you must make at least $1,000 in eligible purchases during the first 90 days of card activation. These bonus points can be redeemed for a $200 statement credit towards travel purchases.
0% introductory APR:
New account holders can take advantage of a 0% introductory APR on purchases for the first 12 billing cycles following the opening of your account. After this promotional period ends, your specific APR will be between 14.99% and 22.99% (variable tied to the Prime Rate) based on your creditworthiness at the time of approval. If you have a big-ticket item to purchase, this offer allows you to pay off your purchase over a full year without incurring any interest charges.
Easy to earn big rewards:
The BankAmericard Travel Rewards Visa makes it easy to earn travel rewards. Cardholders earn 1.5 points for every dollar spent on the card. You don’t have to worry about where you have to use the card. All purchases earn points. Plus, there is no minimum amount you have to spend.
Easy to redeem points:
Cardholders simply book their travel using the card and then go online to redeem their points for a statement credit towards any travel purchases. With as little as 2,500 points, card members can redeem points for hotel bookings, cruises, airline flights, rental cars and even baggage fees. If the amount of points accumulated is not enough to pay for the entire airline ticket or hotel booking, card members can receive a partial travel credit using however many points are available at the time.
Added bonus for Bank of America customers:
Bank of America customers who have an open, active checking or savings account can earn an additional 10% bonus points on all purchases made on the card. This feature makes it even easier to accumulate points quickly and redeem travel rewards.
No foreign transaction fees:
The BankAmericard Travel Rewards Visa does not charge its cardholders any foreign transaction fees. This can result in big savings for people who frequently travel abroad.
No annual fee:
There is no annual fee associated with this card.
Not everyone will qualify:
A higher than average credit score (750) is generally needed to qualify for the BankAmericard Travel Rewards Visa. If you have a less than perfect credit history or are currently in the process of rebuilding your credit, you may not be approved for this card.
High APRs and fees:
The annual percentage rate on purchases is waived for the first twelve months but after that it varies between 14.99% and 22.99% depending on your creditworthiness. If you maintain a balance on your credit card, interest charges can quickly add up. Late payment fees can be up to $35 and returned payment fees can be up to $25.
Not great for people who are members of airline or hotel rewards loyalty programs:
The BankAmericard Travel Rewards Visa is better suited to people who like to book discount travel for both airlines and hotels and don’t want to be tied to one airline or one hotel chain for their travel needs. If you are a member of a hotel or airline rewards loyalty program, this card’s benefits will probably not out-pace the perks you already receive from those programs.
Some cards, such as the Capital One Quicksilver Cash Rewards Credit Card, offer the same base rewards rate as the BankAmericard Travel Rewards Visa but also provide unlimited 1.5% cash back on purchases. It also has no annual fee or foreign transaction fees. If you are looking for a card which delivers cash-back rewards, you may want to shop around.