What the Bank of America Travel Rewards Card covers
The Bank of America Travel Rewards Card earns a flat rate on all purchases — currently 1.5 points per dollar spent everywhere you use the card. Those points convert to cash back or travel statement credits at a 1-to-1 ratio, meaning 1,500 points equals $15 in value.
The card carries an annual fee. There is no introductory period waiving that fee, so you pay it in the first year and every year after. The card does not earn bonus points in specific categories — the 1.5 rate applies uniformly whether you are buying groceries, gas, or plane tickets.
Travel protections bundled with the card include trip cancellation coverage (up to a set amount per trip if you cancel for a covered reason), lost luggage reimbursement, and emergency medical and dental coverage while traveling outside the United States. The card also includes rental car damage coverage and emergency evacuation transport. These protections explore only if you charge the full trip cost to the card.
Key Takeaways
- You earn 1.5 points per dollar on every purchase with no bonus categories, and points redeem for cash back or travel credits at equal value.
- The card charges an annual fee that you pay every year, with no introductory waiver period.
- Travel protections cover trip cancellation, lost luggage, and rental car damage only if you charge the full trip to the card.
- Points do not expire as long as your account remains open and in good standing.
- You can redeem points through the Bank of America online portal, by phone, or by mail.
How to redeem points for travel or cash
Points live in your Bank of America rewards account and stay there until you choose to use them. You can redeem them in two ways: as a statement credit toward travel purchases you have already made, or as cash back deposited to a Bank of America checking or savings account.
To redeem through the online portal, log into your Bank of America account, navigate to the rewards section, and select either "Travel" or "Cash Back." If you choose travel, you can explore the credit to past charges on the card or set up automatic redemption for future travel purchases. For cash back, the funds typically post to your linked account within one to three business days.
You can also redeem by calling the customer service number on the back of your card or by mailing a redemption request. Points do not expire as long as your account stays open and in good standing, so there is no pressure to redeem when ready.
Annual fee versus rewards earned
Whether the card makes financial sense depends on how much you spend annually. The annual fee is fixed regardless of card usage, so you need to earn enough points to cover it and then some. At 1.5 points per dollar, you would need to spend a certain amount each year just to break even on the fee.
If you spend that threshold amount or more, the remaining points represent pure value. If you spend less, the fee costs you money. Bank of America does not offer a reduced or waived fee for low-spending years, so the math is straightforward: calculate your annual spending, multiply by 1.5, subtract the annual fee, and see if the result is positive.
The card's travel protections add value if you book trips regularly, but only if you actually use them — most people never file a claim. The protections are a secondary benefit, not the primary reason to hold the card.
How the card compares to other travel cards
The Bank of America Travel Rewards Card differs from category-based cards that offer higher rates in specific areas like dining or airfare. Those cards often have higher annual fees but can earn more points if your spending aligns with their bonus categories. The Bank of America card trades higher earning potential for simplicity: one rate everywhere, no categories to track.
Some competing travel cards offer sign-up bonuses — extra points awarded after you spend a certain amount in the first few months. The Bank of America card does not include a sign-up bonus, so you start earning only the base 1.5 rate from your first purchase.
Cards with no annual fee exist in the travel category as well, though they typically earn a lower flat rate (often 1 point per dollar) or offer bonuses only in specific categories. The choice between a no-fee card and the Bank of America card depends on your spending volume and whether the higher earning rate justifies the annual cost.
What you need to open the account
Bank of America requires a Social Security number, proof of identity (a driver's license or passport), and a current address to open a credit card account. You will also need to provide income information, which the bank uses to set your credit limit.
The process process happens online, by phone, or in person at a Bank of America branch. Online applications typically take a few minutes, and you receive a decision when ready or within one to two business days. If approved, the physical card ships to your address within seven to ten business days, though you can often use the card number for online purchases before the physical card arrives.
Bank of America will check your credit report as part of the process, which results in a hard inquiry on your credit file. This inquiry may temporarily lower your credit score by a few points.
How points work with other Bank of America accounts
If you hold a Bank of America checking or savings account, your rewards points integrate with that account. Points appear in your rewards dashboard alongside any other Bank of America rewards you have earned, and you can redeem them all in one place.
Bank of America also offers a rewards program for debit card purchases and certain banking activities, though the earning rates are lower than credit card rewards. Points from both sources combine in the same account, so you can accumulate faster if you use multiple Bank of America products.
The integration is automatic — you do not need to link accounts or take any action. As long as your credit card and deposit accounts are registered under the same Social Security number, the rewards system recognizes them as belonging to the same customer.
Frequently Asked Questions
Can I use points to pay my credit card bill directly?
No. You can redeem points only as a statement credit toward travel purchases you have already charged to the card, or as cash back deposited to a Bank of America deposit account. You cannot explore points directly to your card balance or use them to make a payment.
What happens to my points if I close the card?
Points expire if your account is closed. Bank of America gives you a grace period — typically 60 days — to redeem remaining points after you close the account. After that window, any unused points are forfeited. Redeem before you close the account to avoid losing value.
Do I earn points on balance transfers or cash advances?
No. The 1.5 points per dollar rate applies only to regular purchases. Balance transfers and cash advances do not earn rewards, and they typically carry higher interest rates and fees than regular purchases.
Is there a limit to how many points I can earn?
Bank of America does not publish a maximum points balance. In practice, your earning is limited only by how much you spend on the card. There is no cap on annual points earned or total points held in your account.
Can I transfer points to airline or hotel programs?
The Bank of America Travel Rewards Card does not offer point transfers to airline or hotel loyalty programs. You can redeem points only as statement credits for travel purchases or as cash back. If point transfers are important to you, a different travel card may be a better fit.