Good sign-up bonus
You get 20,000 points (which can be redeemed for a $200 statement credit) after spending $1,000 in the first 90 days. You can redeem these points as a statement credit up to 12 months after making a travel purchase on your card.
Below average introductory offer
If you’re eyeing a large purchase, the BankAmericard Travel Rewards credit card comes with a zero percent APR for purchases for the first 12 months. Make sure you can pay off the balance in the first year, since this is a short introductory period compared to many cards, and the regular APR is high. If you’re more interested in financing a new purchase than reaping travel rewards, you may want to shop around a little, since there are many cards with lower APRs and introductory periods of 15 months or longer.
Good earning scheme
You get 1.5 points for every purchase, and you don’t need to keep track of special categories or quarterly bonuses. This is not the best earning scheme out there – there are many cards on the market that enable you to build up bonus points on special categories of spending, and even a few cards that offer a higher general rewards rate. However, the simplicity of this card is hard to beat.
Flexible redemption options
The BankAmericard Travel Rewards card shines in the flexibility of its redemption options. There are no point limits or blackout dates and points don’t expire. Best of all – you can book travel with any travel site or service and redeem the purchase for rewards points at a ratio of 100 points to $1, as long as the purchase is $25 or more. There are few other cards that allow you to spend rewards points for travel on outside sites, and even fewer that combine this flexibility with no annual fee and a large sign-up bonus.
Earn more with Bank of America Travel Center
The card also offers a bonus for redeeming rewards directly through the Bank of America Travel Center. You earn an additional 1.5 points for every dollar spent there (limited to 9,000 points per year for airfare).
Higher earning rate for banking customers
The card may be especially valuable to current Bank of America customers. If you have a Bank of America banking account – or you are a client of Merrill Edge, Merrill Lynch – you can earn between 10 percent and 75 percent additional points on purchases. Points are meted according to the following tiers:
- Any account: 10 percent or 1.65 points on a dollar.
- Gold ($20,000-$50,000 balance) – 25 percent or 1.87 points.
- Platinum ($50,000-$100,000 balance) – 50 percent or 2.25 points.
- Platinum Honors ($100,000-plus balance) – 75 percent or 2.62 points.
Good travel benefits
Since this is a Visa Signature card, you get some nice travel perks, including discounts and deals and a car rental collision waiver. There is no foreign-transaction fee, which means you can use the card anywhere in the world without having to pay an extra 3 to 4 percent. Also, while it’s not a specific BankAmericard Travel Rewards credit card benefit, Bank of America customers get free access to a plethora of fine museums around the country on the first weekend of every month.
Reasons to get it:
- You appreciate a generous sign-up bonus and good earning scheme.
- You want simplicity in earning rewards.
- You’re already a Bank of America customer or plan to become one.
- You frequently travel abroad and want a card with PIN functionality and no foreign-transaction fee.
How to use it:
- Make sure to spend $1,000 in the first three months to get the bonus.
- Redeem points for a credit statement rather than cash or credit cards to get the best points value.
- Consider purchasing travel at the Bank of America Travel Center – as long as the price is comparable to other sources – to earn double bonus points.
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