What the Bank of America Travel Rewards card is and who it's built for

The Bank of America Travel Rewards card is a cash-back card that rewards you for spending on travel and everyday purchases. Unlike airline cards that lock rewards into a single airline's program, this card gives you points on all purchases and lets you redeem them as statement credits toward travel costs — flights, hotels, rental cars, or any travel booking.

The card works best if you travel a few times a year but don't have a strong preference for one airline. You're not locked into earning miles you can only use with United or Delta. Instead, you accumulate points that work across any travel provider, which means more flexibility and fewer points sitting unused because you flew a different airline than your card rewards.

If you already have a rewards checking account with Bank of America, the card offers a bonus: your points are worth more. A Bank of America Preferred Rewards member can turn each point into 1.5 cents of travel credit instead of 1 cent, which effectively increases your rewards rate without changing how much you spend.

Key Takeaways

  • The card earns 1.5 points per dollar on all travel purchases and 1.25 points per dollar on everything else, redeemable as statement credits toward any travel expense.
  • Bank of America Preferred Rewards members earn bonus point value — up to 1.5 cents per point instead of 1 cent — if they maintain a may have access to deposit or investment balance.
  • There is no annual fee, which means you can keep the card open even in months when you don't travel.
  • The card has no foreign transaction fees, making it useful for international travel without hidden charges on purchases abroad.
  • Redemption happens through your Bank of America online account as a statement credit, not through a separate travel portal or airline booking system.

How the rewards rate works and what counts as travel

The card earns 1.5 points per dollar on travel purchases and 1.25 points per dollar on everything else. The definition of "travel" is broader than you might expect: it includes not just flights and hotels, but also rental cars, taxis, rideshare services like Uber and Lyft, parking, tolls, trains, buses, and travel booking sites like Expedia or Kayak.

This matters because many of your travel expenses happen outside the airline itself. If you book a flight on Kayak, take an Uber to the airport, pay for parking, and book a hotel on Hotels.com, each of those earns the higher 1.5-point rate. Only purchases that don't fit the travel category — groceries, gas, restaurants, retail — earn 1.25 points per dollar.

Points don't expire as long as your account remains open and in good standing. You don't have to redeem them when ready or watch a clock. This is different from some airline programs where miles expire if you don't earn or redeem within a set period.

How Bank of America Preferred Rewards multiplies your points

If you have a Bank of America checking or savings account, you may already be enrolled in Preferred Rewards, which is Bank of America's tiered rewards program for customers who maintain deposit or investment balances. The program has three tiers: Silver (at $20,000 in may have access to balances), Gold (at $50,000), and Platinum (at $100,000).

Each tier increases the value of your credit card points. At Silver, your points are worth 1.25% of their face value instead of 1%. At Gold, they're worth 1.5%. At Platinum, they're worth 1.75%. This means a Gold member earning 1.5 points per dollar on travel is actually earning the equivalent of 2.25 cents per dollar in travel credit — a significant boost that compounds over time.

The may have access to balances include money in checking, savings, money market accounts, and investment accounts held at Bank of America. If you already bank there and maintain a balance for other reasons, you may already may have access to without taking any extra step. You can check your Preferred Rewards tier in your Bank of America online account under the rewards section.

Annual fee, foreign transaction fees, and other costs

The Bank of America Travel Rewards card has no annual fee. This is a significant advantage over many airline-specific cards, which charge $95 to $450 per year. Because there's no annual fee, you can keep the card open indefinitely without paying to maintain it, even if you travel infrequently or take a break from travel for a season.

The card also has no foreign transaction fees, which means you won't be charged an extra percentage when you use it abroad. If you travel internationally, this saves money on every purchase — hotels, restaurants, shops, and transportation all avoid the 2% to 3% markup that many cards add to foreign transactions.

The card does not offer a sign-up bonus, which is one trade-off compared to some airline cards. You begin earning points when ready on purchases, but there's no lump sum of bonus points for opening the account and meeting a spending threshold in the first few months.

How to redeem points and what your options are

Points are redeemed as statement credits directly through your Bank of America online account. You log in, navigate to the rewards section, and choose how many points to redeem toward travel purchases. The credit posts to your account within a few days and reduces your balance due.

You can redeem points toward any travel expense: a flight booked directly with an airline, a hotel reservation on any booking site, a rental car, an Uber ride, or even travel insurance. You're not limited to a curated travel portal or a specific set of partners. This flexibility is the main advantage over airline cards, where you're earning miles that only work with one carrier.

The minimum redemption is typically 2,500 points, which equals $25 in travel credit at the standard 1-cent-per-point rate. If you're a Preferred Rewards member, the same 2,500 points might be worth $37.50 (at Gold tier) or $43.75 (at Platinum tier), depending on your tier.

When this card makes sense and when an airline card might be better

The Bank of America Travel Rewards card works best if you travel with different airlines or don't have a home airline. You avoid the problem of earning miles with one carrier while flying another, and you don't waste points on a card you're not using. The lack of an annual fee means you can keep it as a backup card without cost.

An airline-specific card makes more sense if you fly the same airline most of the time and value perks like free checked bags, priority boarding, or airline lounge access. Those benefits compound if you're a frequent flyer with one carrier. The Bank of America card doesn't offer airline-specific perks — it's purely a cash-back card that happens to reward travel spending.

If you have a Bank of America Preferred Rewards balance, the card becomes more attractive because your points are worth more. A Gold or Platinum member gets significantly higher redemption value, which can offset the lack of a sign-up bonus.

How to open the card and what to expect

You can open the card online through Bank of America's website or in a branch. The process takes about 10 minutes and asks for standard information: your name, address, income, employment, and Social Security number. Bank of America will check your credit and give you a decision within minutes in most cases.

If you're approved, your card arrives by mail within 7 to 10 business days. You can set up it through the Bank of America app or website and begin using it when ready. If you already have a Bank of America account, the card integrates with your existing login and rewards dashboard.

Your credit score will be affected by the hard inquiry Bank of America runs and by the new account itself. The inquiry typically has a small, temporary impact, and the new account lowers your average account age. If you're planning to explore for a mortgage or other loan soon, you may want to wait a few months before opening a new card.

Frequently Asked Questions

Can I use this card if I don't have a Bank of America checking account?

Yes. You can open and use the card without a Bank of America deposit account. However, you won't receive the Preferred Rewards bonus that multiplies your point value. If you already bank elsewhere and don't plan to move your checking account, the card still earns solid rewards, but you'll get the standard 1 cent per point redemption value instead of the higher rates available to Preferred Rewards members.

What happens to my points if I close the card?

Your points remain in your Bank of America rewards account and don't expire. You can continue to redeem them as statement credits even after the card is closed. This is different from some airline programs where closing the card forfeits your miles.

Do I earn points on balance transfers or cash advances?

No. Points are earned only on purchases. Balance transfers and cash advances don't earn rewards and typically carry a fee and higher interest rate. Use the card for spending you were already planning to do, not as a way to move debt.

Can I transfer points to an airline or hotel program?

No. Points can only be redeemed as statement credits toward travel purchases. You cannot transfer them to airline miles or hotel loyalty programs. If you need that flexibility, an airline card or a premium travel card with transfer partners would be a better fit.

How often can I redeem points?

You can redeem points as often as you want, as long as you have at least 2,500 points available. There's no limit on the number of redemptions per year or per month. Many cardholders redeem a few times a year as they book trips.