How to Use Travel Rewards with Bank of America
If you’re a Bank of America customer, you may already know about the Bank of America Travel Rewards credit card. It’s a popular choice for travelers looking to earn points without dealing with complicated rewards systems or annual fees. But how do you actually maximize the benefits of this card? Let’s break it down, step by step, so you can get the most out of your travel rewards.
What Is the Bank of America Travel Rewards Credit Card?
The Bank of America Travel Rewards card is a straightforward credit card designed for travelers. It offers unlimited 1.5 points for every $1 you spend, and those points can be redeemed for a variety of travel-related expenses, like flights, hotels, car rentals, or even vacation packages.
Here’s what makes this card stand out:
- No Annual Fee: You don’t need to worry about offsetting a hefty yearly charge.
- No Foreign Transaction Fees: Perfect for international travel.
- Bonus Points: New cardholders can often earn a generous sign-up bonus after meeting a minimum spending requirement.
How to Earn Points
Earning points with the Bank of America Travel Rewards card is as easy as using it for everyday purchases. Since the card offers a flat 1.5 points per $1 spent, you don’t need to think about rotating categories or special spending thresholds.
Tips for Earning More Points:
- Use It for All Purchases: From groceries to gas, use the card for as many expenses as possible to rack up points.
- Maximize the Sign-Up Bonus: Many promotions require you to spend a certain amount in the first 90 days to earn a bonus. Plan major expenses during this time to hit the target.
- Enroll in Preferred Rewards: If you have a Bank of America checking or savings account with a high balance, you can qualify for the Preferred Rewards program, which boosts your points earning by 25%, 50%, or even 75%.
How to Redeem Points
Redeeming points with the Bank of America Travel Rewards card is flexible and straightforward. You can use points to cover travel expenses at a value of 1 cent per point. For example, 25,000 points equals $250 in travel credits.
How to Redeem:
- Log in to your Bank of America account online or through the mobile app.
- Go to the rewards section and view your points balance.
- Select the travel-related expense you want to redeem points for, such as a flight or hotel booking.
- Apply your points as a statement credit.
You can also redeem points for gift cards or cash back, but you’ll get the best value when redeeming for travel.
Best Ways to Use Bank of America Travel Rewards
The key to maximizing your rewards is to use them strategically. Here are some tips:
- Book Through Any Platform: Unlike some travel cards that require you to book through specific portals, Bank of America Travel Rewards allows you to book travel on any website or app and still redeem points.
- Combine with Other Bank of America Cards: If you have multiple Bank of America credit cards, you can pool your rewards for greater flexibility.
- Leverage Travel Partners: Although the card doesn’t have traditional transfer partners, you can still use points for a wide variety of travel purchases.
Pros and Cons of the Bank of America Travel Rewards Card
Pros:
- Easy-to-understand rewards system.
- No annual or foreign transaction fees.
- Sign-up bonuses that are attainable for most users.
- Flexible redemption options.
Cons:
- Points earning rate is lower than some premium travel cards.
- No luxury travel perks, like lounge access or travel insurance.
- Limited value outside of travel redemptions.
Who Should Get This Card?
The Bank of America Travel Rewards card is ideal for:
- Casual Travelers: If you travel occasionally and don’t want to pay annual fees, this card is a great fit.
- International Travelers: The lack of foreign transaction fees makes it a solid choice for overseas trips.
- Everyday Spenders: With its flat rewards rate, it’s perfect for those who want simple rewards without category restrictions.
