How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.If you’re in the market for a travel rewards credit card, but don’t want to deal with complicated rewards structures or spending limits, you should look at the Bank of America® Travel Rewards credit card. Cardholders earn 1.5 points per $1 spent on all purchases.
In addition to using your rewards to book trips, you can redeem points for statement credits to pay for flights, hotels, vacation packages, cruises, rental cars or baggage fees.
We break down the pros and cons of the Bank of America® Travel Rewards credit card, and show how it compares to another travel rewards credit card — the Chase Sapphire Preferred® Card.
Intro Purchase APR
0% Intro APR for 15 billing cycles for purchases
Regular Purchase APR
XX.XX% - XX.XX% Variable APR
Intro BT APR
0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
Regular BT APR
XX.XX% - XX.XX% Variable APR
Annual Fee
$0
Cash Advance Fee
See Terms
Foreign Transaction Fee
None
Balance Transfer Fee
3% for 60 days from account opening, then 4%
Sign-up bonus
New cardholders can earn 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.
Rewards rate
The Bank of America® Travel Rewards credit card lets cardholders earn 1.5 points per $1 spent on all purchases.
If you are a Bank of America® Preferred Rewards member, you can earn 25% to 75% more points on every purchase – meaning, you can earn up to 2.62 points per dollar on all purchases. But keep in mind, to earn the highest rewards rate, you need to have Preferred Rewards Platinum Honors status, which requires a three-month average combined balance of $100,000 or more in qualifying Bank of America banking accounts and/or Merrill Investment accounts.
Intro APR on purchases
If you want to finance a large purchase, such as a vacation, and pay it off over time, you can do so interest-free with the Bank of America® Travel Rewards credit card. The card offers a 0% Intro APR for 15 billing cycles for purchases . After that, a XX.XX% - XX.XX% Variable APR applies to any remaining balance.
Annual fee
The Bank of America® Travel Rewards credit card comes with an annual fee of $0.
Mediocre benefits
While the Bank of America® Travel Rewards credit card offers some helpful benefits, such as overdraft protection, car rental collision damage waiver, and lost luggage coverage, it lacks some popular travel benefits such as like baggage delay insurance.
No bonus earning categories
The Bank of America® Travel Rewards credit card offers a decent flat rewards rate on general purchases; however, there are other travel rewards cards available that offer up to 5 points per dollar on flights and up to 12 points per dollar on hotel stays.
Just know, these cards typically charge annual fees of $95 or more.
If you want a travel rewards card with valuable rewards and more robust benefits — and you don’t mind paying an annual fee — the Chase Sapphire Preferred® Card is a great alternative.
Cardholders enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more. Plus, get up to $1,050 in Chase Travel℠ value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That's worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year.
Along with travel, points can be redeemed for cash and gift cards, or used to pay for products. Points can also be transferred to several airline and hotel transfer partners, including British Airways Executive Club, JetBlue TrueBlue, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, Marriott Bonvoy and more.
The Chase Sapphire Preferred® Card does charge an annual fee of $95; however, the value you can get from the card’s sign-up bonus more than covers that amount during the first year. Additionally, the Chase Sapphire Preferred® Card comes with a number of benefits, including $50 in statement credits each account anniversary year for hotel stays purchased through Chase TravelSM, baggage delay insurance, trip delay reimbursement, trip cancellation and interruption insurance and more.
That said, if you’re planning to pay off a trip or other large purchase over time, the Bank of America® Travel Rewards credit card may be a better choice, since it offers an interest-free period on purchases for more than a year. The Chase Sapphire Preferred® Card, on the other hand, has a regular purchase APR of 20.99% - 27.99% variable.
| Credit Cards | Our Ratings | Welcome Offer | Rewards Rate | Annual Fee | |
|---|---|---|---|---|---|
Bank of America® Travel Rewards credit card
 Apply Now
on Bank Of America's secure site |
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 | 1.5 points per $1 spent on all purchases. | $0 |
Apply Now
on Bank Of America's secure site |
|
Chase Sapphire Preferred® Card
Apply Now
on Chase's secure site |
Get up to $1,050 in Chase Travel℠ value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That's worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year. | Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more. | $95 |
Apply Now
on Chase's secure site |
|
Capital One Venture Rewards Credit Card
Apply Now
on Capital One's secure site Rates & Fees |
75,000 Miles once you spend $4,000 on purchases within 3 months from account opening | 2 Miles per dollar on every purchase, every day; 5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel | $95 |
Apply Now
on Capital One's secure site Rates & Fees |
|
Discover it® Miles*
|
Unlimited Mile-for-Mile match for all new cardmembers—only from Discover. Discover gives you an unlimited match of all the Miles you’ve earned at the end of your first year. You could turn 35,000 Miles to 70,000 Miles. There’s no signing up, no minimum spending or maximum rewards. Just a Miles-for-Miles match. | 1.5 Miles per dollar on all purchases. | $0 |
If you’re in the market for a travel credit card with a simple rewards structure and $0 annual fee, the Bank of America® Travel Rewards credit card is a solid option. In addition to offering a flat rewards rate on every purchase, the $0 annual fee card has a 0% Intro APR for 15 billing cycles for purchases , then XX.XX% - XX.XX% Variable APR — which is ideal if you plan to carry a balance on your card from month to month.
But if you want to opportunity to squeeze more value from a card’s sign-up bonus and the ability to earn an elevated rewards rate in a variety of popular spending categories, like travel, dining and groceries, the Chase Sapphire Preferred® Card is a much better fit. Just know, the card also comes with a $95 annual fee and does not offer an intro APR on purchases.
Apply Now
For Capital One products listed on this page, some of the above benefits are provided by third parties such as Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as certain terms, conditions, and exclusions apply.
The information related to the Discover it® Miles has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
