Key takeaways
- The Financial institution of America Journey Rewards bank card is taken into account a starter journey rewards card, and for good motive. It does not have the sturdy advantages discovered with many different journey bank cards — however that does not imply it isn’t helpful for some.
- Financial institution of America Most well-liked Rewards program members can get extra out of this card with their boosted earnings charge.
- As a result of Financial institution of America’s definition of “journey” is much less strict than different issuers, cardholders can get journey credit for extra than simply airfare, motels and associated purchases.
If you happen to prefer to journey or have a number of large journeys developing, you is perhaps contemplating getting a journey bank card to complement your price range by incomes rewards. Most individuals don’t need to begin off with a premium journey bank card, which comes with steep annual charges and rewards methods that may really feel complicated to navigate. That’s the place the Financial institution of America® Journey Rewards bank card may are available in.
This Financial institution of America bank card has no annual price however nonetheless affords sufficient advantages to get you began in your award journey journey. It additionally earns a flat charge of 1.5X factors on all purchases. Though you’ll get probably the most out of this card as a Financial institution of America Most well-liked Rewards member — an invite-only program primarily based on the sum of your deposits with the financial institution — it’d nonetheless be a worthwhile card to think about.
To assist potential cardholders perceive what this card guarantees, we’ve made this advantages information.
The Financial institution of America Journey Rewards bank card’s rewards advantages
Whereas the Financial institution of America Journey Rewards bank card doesn’t provide a lot by way of particular class rewards, it does nonetheless have its advantages in relation to offers, redemption choices and boosted charges.
Welcome bonus and intro APR provide
The Financial institution of America Journey Rewards bank card affords a stable welcome bonus that’s simply attainable for many cardholders. You possibly can earn 25,000 factors once you make $1,000 in purchases inside 90 days of account opening. That’s about $250 price of journey credit.
Along with the welcome bonus, cardholders additionally get a 0 % introductory annual proportion charge (APR) for 15 months on each buy and steadiness transfers, however steadiness transfers do include a 3 % steadiness switch price and should be made inside 60 days of account opening. After the introductory interval ends, the continued variable APR of 18.24 % to twenty-eight.24 % takes over.
Assorted redemption choices
You possibly can redeem your rewards factors in quite a lot of methods, together with as:
- Assertion credit in an eligible Financial institution of America or Merrill account. This might add up when you resolve to make use of the cardboard as an on a regular basis spending card.
- Money deposits in an eligible Financial institution of America or Merrill account. The perfect half is that your money redemptions don’t lose worth, as with some rewards bank cards.
- Journey credit for purchases as much as 12 months after the date of buy. Nonetheless, there’s a redemption minimal of two,500 factors, which is the same as about $25.
- Assertion credit for eating and takeout purchases. Financial institution of America considers this to be a reasonably broad class, that means that along with eating places, you possibly can probably get assertion credit for purchases from bars, lounges and nightclubs.
- Present playing cards. This redemption choice solely offers your factors a worth of 0.6 cents apiece and has a redemption minimal of three,125 factors.
Boosted rewards charges with the Financial institution of America Most well-liked Rewards Program
If you happen to’re a part of the Financial institution of America Most well-liked Rewards program, you’ll earn as much as 75 % extra in rewards for every greenback you spend in your Journey Rewards card. The one requirement is to keep up a minimal steadiness in your eligible Financial institution of America or Merrill investing accounts. The minimal steadiness for every tier is as follows:
| Tier | Stability required | Bonus |
|---|---|---|
| Gold | $20,000 to $49,999 | 25% |
| Platinum | $50,000 to $99,999 | 50% |
| Platinum Honors | $100,000 to $999,999 | 75% |
| Diamond | $1,000,000 to $9,999,999 | 75% |
| Diamond Honors | $10 million or extra | 75% |
Although it’s good to preserve a major sum of money on deposit with the financial institution to qualify for these tiers, you’ll discover that it may possibly actually enhance your earnings with the Journey Rewards card. On the highest tier, you could possibly earn as much as 2.62 factors for each greenback spent on the cardboard.
BankAmeriDeals
The BankAmeriDeals program offers you entry to unique reductions by utilizing your card at eligible retailers for a particular time frame. It can save you anyplace from 5 % to fifteen % on sure purchases by activating your provide and utilizing your card in response to the provide particulars. Some widespread retailers embrace:
- Prime Golf
- PetSmart
- Kohl’s
- 1-800 Flowers
- Macy’s
- The Residence Depot
- Ulta Magnificence
The Financial institution of America Journey Rewards bank card’s journey advantages
As a extra entry-level journey card, the Financial institution of America Journey Rewards card lacks among the extra widespread journey advantages, like credit in the direction of TSA PreCheck or International Entry. There’s additionally no lounge entry, journey insurance coverage or annual credit. As a substitute, the cardboard affords the next journey advantages:
No international transaction charges
Overseas transaction charges are usually 1 % to three % of a purchase order, which might add up rapidly relying on the place you’re purchasing. If you happen to plan to journey overseas or store internationally whereas on-line, you a minimum of received’t bust your journey price range with these further charges.
No annual price
Most journey rewards bank cards cost an annual price to pay for all the perks they provide — particularly in the event that they’re branded as luxurious journey bank cards. These playing cards can have charges as excessive as $695. Nonetheless, whereas the Financial institution of America Journey Rewards bank card has no annual price, it additionally doesn’t have practically the identical degree of perks and advantages, so that you’ll need to resolve whether or not paying a price is price what you get with this card.
Visa Signature advantages
As a Visa Signature® card, the Financial institution of America Journey Rewards bank card additionally affords:
- Visa Signature® Concierge companies
- Prolonged guarantee protection
- Entry to roadside dispatch for emergency car help
- Journey and emergency help
Broad journey classes
One good thing about the Financial institution of America Journey Rewards bank card that you just don’t all the time see with different journey playing cards is how various its definition of “journey” actually is. You may get journey assertion credit for purchases with:
- Airways
- Resorts and motels
- Timeshares
- Trailer parks, motorhomes and leisure car leases
- Campgrounds
- Automobile, truck, trailer and boat leases
- Cruise strains
- Journey businesses, tour operators and actual property brokers
- Passenger trains
- Buses
- Taxis, ferries and limousines
- Parking heaps and garages
- Tolls and bridge charges
- Vacationer points of interest and amusement parks
- Artwork galleries and museums
- Carnivals and circuses
- Aquariums and zoos
Museums on Us
This distinctive profit permits Financial institution of America cardholders to get free entry to over 225 cultural establishments through the first weekend of every month. This system is ideal for individuals who love planning day journeys or those that have an inventory of museums they’ve been enthusiastic about seeing. To make the most of this perk, all it’s a must to do is current your Financial institution of America debit or bank card and a sound picture ID.
The right way to maximize the Financial institution of America Journey Rewards bank card
This card’s flat rewards charge of 1.5X factors for all purchases makes maximizing the Financial institution of America Journey Rewards bank card pretty straightforward — simply apply it to on a regular basis purchases to see the factors rack up.
Mix this card with one other
Nonetheless, you continue to won’t get a lot out of simply this card alone on the finish of the day. To really maximize your rewards, take into account pairing this card with one which has a better reward charge in particular spending classes. For instance, you may get a rotating class bank card just like the Uncover it® Money Again or a eating and leisure card just like the Capital One SavorOne Money Rewards bank card. Then, you should utilize your Financial institution of America card to fill within the gaps for spending classes that received’t get boosted rewards together with your different card.
Benefit from the intro APR provide
If you happen to’ve bought a giant buy on the horizon or need to do away with some bank card debt, the introductory APR may also help you keep away from curiosity. Simply be sure to repay your steadiness earlier than the intro interval ends and issue within the steadiness switch price as you repay your debt.
Use this card for journey in area of interest classes
As we talked about earlier than, Financial institution of America has a wider definition of what counts as “journey.” When you may get extra rewards with one other journey bank card in relation to airfare or lodge stays, you possible received’t discover many others that allow you to redeem journey credit for car parking zone charges, tolls, campground leases, museums or zoos. This card can turn out to be useful for these sorts of bills.
The underside line
The Financial institution of America Journey Rewards isn’t the easiest journey bank card on the market. For most individuals, they’d be higher off with a card that gives a better journey rewards charge and even with a flat-rate money again card just like the Citi® Double Money Card, which affords as much as 2X rewards (1% once you purchase 1% as you pay) on all spending.
However for individuals who meet Financial institution of America Most well-liked Rewards necessities, the cardboard might present considerably extra worth. Plus, it could possibly be interesting to somebody that wishes their journey rewards to be helpful for extra than simply airfare and motels, or somebody who’s simply getting began on their journey rewards journey. However even then, there are possible higher playing cards obtainable so that you can take your travels to the subsequent degree.
Issuer-required disclosure statements
Details about the Financial institution of America® Journey Rewards bank card was final up to date on February 5, 2024. Citi is an promoting associate.
