Discover the Pros and Cons of the Bank of America Travel Rewards Credit Card: A Comprehensive Review

Eligibility for Bank of America Travel Rewards Credit Card –

As of 2023, to be eligible for the Bank of America Travel Rewards credit card, you must meet the following requirements:

• Be at least 18 years old: You must be at least 18 years of age to apply for a credit card.
• Legal resident of the United States: You must be a legal resident to apply for a credit card.
• Good to excellent credit score: You will need a good to excellent credit score to be approved for the credit card. A good credit score is typically considered above 670, while an excellent one is considered above 780.
• Bank of America customer: You must be a Bank of America customer to be eligible for the card.
• Income Requirement: You need a stable income to pay off your credit card bills.

It’s important to note that meeting the above requirements does not guarantee approval for the credit card. Bank of America will make the final decision based on its credit approval process.

Also, the credit card issuer may also change the eligibility criteria at their discretion. So, checking with the bank directly for the most up-to-date information is always a good idea.

• READ: Bank of America Unlimited Cash Rewards Credit Card Reviews 2023

How do you apply for a Bank of America Travel Rewards Credit Card in 2023?

As of 2023, you can apply for the Bank of America Travel Rewards credit card in the following ways:

1. Online application: You can visit the Bank of America website and fill out the online application form for the credit card. This will require you to provide personal information such as your name, address, income, and social security number.
2. Phone application: You can call the Bank of America credit card customer service number and apply over the phone with the representative.
3. In-branch application: You can also visit a Bank of America branch and apply for the credit card in person. A representative will assist you with the application process and answer any questions.

It’s essential to have the following information ready before applying:

• Your personal information like name, address, and contact details
• Your income and employment details
• Your Social Security Number

It’s also essential to review the terms and conditions of the credit card before applying to ensure that you understand the fees and interest rates associated with it.

It typically takes 7-10 business days for the bank to review your application and notify you of the decision.

It’s always a good idea to check with the bank directly for the most up-to-date information, as the process and requirements may change over time.

Bank of America Travel Rewards Credit Card pros –

The Bank of America Travel Rewards credit card has several benefits, including:

1. Flexible rewards program: With this card, you can earn points on every purchase you make and redeem them for travel-related expenses such as flights, hotels, and car rentals.
2. Sign-up bonus: You can earn 25,000 online bonus points if you make at least $1,000 in purchases in the first 90 days of account opening.
3. No annual fee: This card has no annual fee, which means you can earn rewards without paying an additional fee each year.
4. No foreign transaction fee: There is no foreign transaction fee when you use this card outside of the United States, which can save you money when traveling abroad.
5. Additional bonus: You receive a 10% customer points bonus every time you redeem your points into a Bank of America checking or savings account.
6. Preferred Rewards Bonus: if you are an eligible Bank of America customer, you can receive additional bonus points on every purchase made with the card.
7. Chip technology: The card has a chip technology that makes it more secure and easier to use when purchasing abroad.
8. Online account management: You can manage your account online, making it easy to view your transactions, track your rewards, and make payments.

It’s always a good idea to check with the bank directly for the most up-to-date information and verify that the benefits are valid, as they may change over time.

Bank of America Travel Rewards Credit Card cons –

The Bank of America Travel Rewards credit card also has some drawbacks to consider, including:

1. High-interest rate: The card has a relatively high purchase APR, which means that if you carry a balance, you will pay more interest charges.
2. Limited redemption options: The rewards earned can only be used on travel-related expenses, which limits the flexibility of redeeming rewards.
3. Limited rewards earning potential: The rewards earning potential may not be as high as other travel rewards credit cards with different earning structures.
4. Bonus points have expiration: The bonus points earned have an expiration date, so it is important to redeem them before they expire.
5. Bank of America customer requirement: To be eligible for the card, you need to be a customer of Bank of America.
6. Credit Score requirement: The card is designed for people with good to excellent credit scores, which means that people with a lower credit score may not qualify.
7. Balance transfer fee: There is a transfer fee for transferring a balance from another credit card.

It’s always a good idea to check with the bank directly for the most up-to-date information, as the terms and conditions of the card may change over time. Additionally, it is essential to read the terms and conditions of the credit card and weigh the pros and cons before applying.

Bank of America Travel Rewards Credit Card features –

The Bank of America Travel Rewards credit card has several features that cardholders can take advantage of, including:

1. Rewards program: Cardholders can earn 1.5 points per $1 spent on all purchases, which can be redeemed for travel-related expenses such as flights, hotels, and car rentals.
2. Sign-up bonus: Cardholders can earn 25,000 online bonus points if they make at least $1,000 in purchases in the first 90 days of account opening.
3. No annual fee: The card has no annual fee, meaning cardholders can earn rewards without paying an additional fee each year.
4. No foreign transaction fee: There is no foreign transaction fee when cardholders use this card outside of the United States, which can save them money when traveling abroad.
5. Additional bonus: Cardholders receive a 10% customer points bonus every time they redeem their points into a Bank of America checking or savings account.
6. Preferred Rewards Bonus: Eligible Bank of America customers can receive additional bonus points on every purchase made with the card.
7. Chip technology: The card has chip technology, making it more secure and easier to use when purchasing abroad.
8. Online account management: Cardholders can manage their account online, making it easy to view their transactions, track their rewards, and make payments.
9. Fraud monitoring: Cardholders are protected by fraud monitoring, designed to detect and prevent unauthorized card use.
10. Mobile banking: cardholders can use their mobile banking app to access their account, pay their bills, and check their rewards.

It’s always a good idea to check with the bank directly for the most up-to-date information, as the terms and conditions of the card may change over time.

Featured Image Credit: Govt Jobs Tyari