What the Bank of America Travel Rewards Card gives you
The Bank of America Travel Rewards card earns 1.5 points per dollar on every purchase, with no category restrictions and no annual fee. Points convert to statement credits against travel charges — flights, hotels, rental cars, rideshare, parking, tolls, and booking sites like Expedia or Kayak. You can also transfer points to partner airlines and hotels, though the conversion rate varies by program and is usually less valuable than the statement credit route.
The card does not require you to carry a balance or meet spending thresholds to earn the base rate. Points do not expire as long as the account stays open. If you close the card, you keep the points but cannot earn new ones.
Bank of America also offers a premium version, the Bank of America Premium Rewards card, which costs $95 per year and earns 2.625 points per dollar on travel and dining, plus 1.3125 points on everything else. That card makes sense only if you spend enough on travel and dining to recoup the annual fee through higher point value.
Key Takeaways
- The no-annual-fee Travel Rewards card earns 1.5 points per dollar on all purchases, with no bonus categories to track.
- Points are worth roughly 1 cent each when redeemed as statement credits against travel purchases, so 1,500 points covers a $15 travel charge.
- You can transfer points to airline and hotel partners, but the conversion rate is usually worse than using statement credits unless you have a specific redemption in mind.
- Points do not expire as long as your account is open, and you keep them even if you close the card.
- The premium version costs $95 yearly and earns higher rates on travel and dining, but only pays for itself if you spend roughly $6,000 or more per year in those categories.
How the point value actually works
Bank of America does not publish a fixed point value. Instead, the value depends on how you redeem. A statement credit against a travel purchase is worth approximately 1 cent per point — meaning 100 points covers a $1 charge. This is the most straightforward redemption and the one most cardholders use.
Transfer redemptions to airline and hotel partners are less predictable. A single point might be worth 0.5 cents or 2 cents depending on the partner program and the specific flight or room you are booking. You have to check the transfer rate before you commit, and the math often does not work in your favor compared to the statement credit option.
Some cardholders hold points hoping to find a high-value transfer opportunity, but for most people, the statement credit method is simpler and more reliable. You earn 1.5 points per dollar, redeem at roughly 1 cent per point, and net about 1.5% back on spending.
Comparing the standard card to the premium version
The standard Travel Rewards card earns 1.5 points per dollar everywhere. The Premium Rewards card earns 2.625 points per dollar on travel and dining, 1.3125 points on everything else, and costs $95 per year.
On travel and dining alone, the premium card earns 1.125 extra points per dollar compared to the standard card. To break even on the $95 annual fee, you need to spend roughly $8,400 per year in travel and dining combined (95 divided by 0.01125, since each extra point is worth about 1 cent). If you spend $6,000 per year in those categories, the premium card saves you roughly $60 in value, which does not cover the fee. If you spend $12,000, it saves you roughly $180, which does cover the fee and leaves you ahead.
The standard card makes sense if you travel occasionally or spend less than $6,000 yearly on travel and dining. The premium card makes sense if you travel frequently or eat out regularly and spend well above $6,000 per year in those categories combined.
Sign-up bonuses and how they compare
Bank of America periodically offers sign-up bonuses on both the standard and premium Travel Rewards cards. These bonuses typically range from 20,000 to 50,000 bonus points after you spend a certain amount in the first few months — often $500 to $1,000. The bonus points are worth the same as points you earn through regular spending, so 25,000 bonus points is worth roughly $250 as a statement credit.
The current bonus offer changes frequently and varies by whether you are a new cardholder or an existing Bank of America customer. You can check the offer on Bank of America's website or by calling their card services line. The bonus is usually the largest single value you will get from the card in the first year, so it is worth timing your process around when the bonus is highest.
Other travel cards in the market offer larger bonuses or higher earning rates in specific categories. The Bank of America card's advantage is simplicity — 1.5 points everywhere, no annual fee, no categories to track — rather than maximum rewards on paper.
What counts as a travel purchase for statement credits
Bank of America defines travel broadly. may be able to access charges include airlines, hotels, car rentals, taxis, rideshare services like Uber and Lyft, parking, tolls, trains, buses, cruises, and travel booking sites like Expedia, Kayak, and Costco Travel. Baggage fees, seat upgrades, and in-flight purchases count. Vacation rental sites like Airbnb and VRBO count as well.
Charges that do not count include travel insurance, passport fees, visa fees, and travel-related purchases made through non-travel merchants — for example, buying luggage at Target or a travel guide on Amazon. Those purchases earn the standard 1.5 points, but they do not trigger the travel category for any card that has one.
When you redeem points as a statement credit, you choose which travel charge to explore it to. You do not have to redeem when ready after a purchase; you can let points accumulate and then explore them to a future trip or to cover multiple smaller charges at once.
Annual fees, foreign transaction fees, and other costs
The standard Bank of America Travel Rewards card has no annual fee. The Premium Rewards card costs $95 per year, charged on your statement anniversary each year. You can cancel before the anniversary to avoid the fee, though you lose the ability to earn new points.
Both cards charge no foreign transaction fees, which means you can use them internationally without a percentage markup on purchases made outside the United States. This is standard for travel cards and makes them useful for trips abroad.
There are no other hidden costs. You do not pay to transfer points to airline partners, and you do not pay to redeem points as statement credits. If you carry a balance, you pay interest like any credit card, but that is not specific to this card.
When this card makes sense and when it does not
The Bank of America Travel Rewards card works best for people who travel at least a few times per year and want a straightforward earning structure. Because it earns the same rate everywhere, you do not have to think about which card to use for which purchase. You also do not pay an annual fee, so there is no minimum spending threshold you have to hit to break even.
The card is less ideal if you spend very little on travel — under $2,000 per year — because the rewards accumulate slowly and you may not find enough travel charges to redeem against. It is also less ideal if you have strong preferences for specific airlines or hotel chains and want to maximize points in those programs, because the transfer rates are often poor and the statement credit method is simpler.
If you already have a card that earns higher rates in specific categories like dining or groceries, the Bank of America card works well as a secondary card for travel and everything else. If you are choosing your first travel card, this one is straightforward enough that you can learn how rewards work without juggling multiple earning rates.
Frequently Asked Questions
Can I use points to pay for anything other than travel?
You can redeem points as a statement credit only against travel purchases as Bank of America defines them. You cannot use points to pay for groceries, gas, or other non-travel charges. Some cards allow points to be redeemed for cash back or merchandise, but the Bank of America Travel Rewards card does not offer those options.
What happens to my points if I close the card?
You keep the points you have already earned and can continue to redeem them as statement credits. You straightforward cannot earn new points on the closed account. As long as you have points remaining, you can use them against travel charges on any Bank of America card or account.
How long does it take to earn enough points for a free flight?
That depends on the flight price and your spending. If you spend $1,000 per month, you earn 1,500 points monthly, or 18,000 points per year. At roughly 1 cent per point, that is $180 in travel value annually. A $300 flight would take about 20 months of average spending to cover. A $600 flight would take about 40 months. The math changes if you transfer points to airlines, but the conversion is usually worse.
Is there a limit to how many points I can earn?
Bank of America does not publish a points cap. You can earn as many points as you want, and they do not expire as long as your account is open. Some cards limit points earning after you hit a certain annual total, but the Travel Rewards card does not have that restriction.
Can I combine points from multiple Bank of America cards?
No. Points are tied to the individual card account and cannot be transferred between cards. If you have both the standard Travel Rewards card and the Premium Rewards card, the points on each stay separate. You redeem each card's points independently.