BankAmericard Travel Rewards® Credit Card Essentials
If you like the simplicity of flat rewards rates for every dollar you spend, with no restrictions attached, BankAmericard Travel Rewards® is a great card to consider. Think of it this way: Each time you swipe your card your money is going toward your next trip.
This BankAmericard offers cardholders 20,000 bonus points after spending $1,000 on purchase within the first 90 days of account opening.
Here’s a glimpse into notable components of the BankAmericard Travel Rewards® card:
· 1.5x points on every purchase
· No annual fee
· 0% Introductory rate for 12 billing cycles
Unlike some travel cards, miles aren’t the only reward this card offers. Points can be redeemed for statement credits to help cover most travel expenses such as, hotel accommodations, vacation packages, auto rentals, baggage fees, and more.
BankAmericard offers additional, innovative ways to earn rewards, too. If you’re a Bank of America or Merrill Lynch banking customer you can get an additional 10% customer bonus for redeeming points into an authorized checking or savings account. If you’re a Preferred Rewards client those rewards rates increase further -- between 25% and 75% depending on the type of account you have.
BankAmericard Travel Rewards® cardholders also have access to many of perks traditional Bank of America customers receive: Shop safe®, overdraft protection, access to Bank of America financial centers and ATMS to name a few.
What Our Editors Like Most
Overall, BankAmericard Travel Rewards® credit card has all the bells and whistles you’d except to find in a travel card. The rewards rates are competitive, and redeeming points for travel is a breeze. There are no blackout dates or restrictions when it comes to using your card for travel, which adds an extra layer of accessibility. Points can be redeemed for statement credits which can then be applied for travel purchases which means you’re free to make any travel purchase you want.
As you’d hope, the BankAmericard does not charge foreign transaction fees. If your travels take you abroad often finding a credit card that eliminates foreign transaction fee, which average around 3% is necessary – those inconspicuous charges can add up quickly.
The ability to earn additional rewards as a Bank of America or Merrill Lynch customer is an intelligent way for issuers to look at how cardholders can redeem points. Because cardholders can add their rewards points into an eligible savings account, technically rewards points can earn interest. The entire concept promotes strategic credit card use, which is always a win in our book.
This card is great for low to average credit card spending but, if you’re a big spender, you might consider shopping around. The rewards rate on the BankAmericard Travel Rewards® card is only average compared to other cards on the market.
The into rewards offer, which equals $200 in travel purchases, is easy to obtain, but is a lackluster incentive compared to other cards in this category. While the intro offer isn’t the best way to pick a card, sometimes it can mean choosing one card over another comparable card.
How BankAmericard Travel Rewards® Compares to Other Travel Cards
BankAmericard Travel Rewards® vs. Barclaycard Arrival Plus™ World Elite Mastercard®. The Barclaycard charges an $89 annual fee (which is waived the first year) so, credit card users who spend lightly or moderately may not be able to offset the annual cost of this card with rewards points. However, if you are a big spender, the Barclaycard Arrival Plus™ World Elite Mastercard® may be one to consider. The Barclaycard rewards rate is .5x higher than the BankAmericard, and the intro offer is $200 greater.
BankAmericard Travel Rewards® vs. Capital One Venture®.
Capital One Venture awards cardholders with 2x points for every purchase, and the intro offer is $200 greater than with the BankAmericard Travel Rewards card. But the Capital One Venture® is definitely geared toward cardholders who use their card often. There is a $59 annual fee attached to the Venture card (after the intro $0 annual fee perk). So if you’re a casual credit card user, the BankAmericard Travel Rewards® may be a more logical pick.
BankAmericard Travel Rewards® vs. Chase Sapphire Preferred®.
Chase cardholders can earn 2x points on dining at restaurants and 2x points on all travel purchases (in addition to 1 point per $1 on all other purchases) Chase’s rewards program is more complex, and in turn, more lucrative. The signup bonus for Sapphire Preferred® is 40,000, or $500 for travel. Unless you’re Preferred Rewards status with the BankAmericard, it would be difficult to earn the same rewards rate as a Sapphire Preferred® cardholder.
Who Should get This Card?
If you’re not a heavy credit card user, and incurring an annual fee doesn’t make sense, the BankAmericard Travel Rewards is a great “light-version” of a travel rewards card. The rewards are straightforward, and easy to redeem.
If you are a Bank of American or Merrill Lynch customer, this card is especially beneficial because your rewards points are accelerated.