Would you like to know How to redeem Bank of America Travel Rewards? You are on the right page; this page will be showing you how you can redeem Bank of America Travel rewards points.
Many credit card issuers have a line of rewards credit cards that allow you to earn cash back, points, or miles while traveling, and Bank of America is no exception. While not as popular as Chase or American Express travel credit cards, Bank of America travel cards can be quite lucrative and flexible, but the details depend on the credit card you’re signing up for.
If you’re ready to give Bank of America travel rewards a shot, you need to know which Bank of America credit cards earn travel rewards, what travel rewards are available, and how to use Bank of America travel rewards points to your advantage.
How to redeem Bank of America Travel Rewards? You can redeem Bank of America Travel Rewards credit card points for a statement credit to cover travel purchases made in the last 12 months. Points from the card can also be used towards gift cards or cashback, through a paper check or Bank of America deposit balance.
You can redeem your points by logging into your account online or on the BofA mobile app, or by calling (800) 434-8313. The Bank of America Travel Rewards credit card gives at least 1.5 points for every $1 spent on purchases, so it can add up quickly.
Which Bank of America credit cards earn rewards when traveling?
The Bank of America credit cards that allow you to collect travel rewards are:
- Bank of America® Travel Rewards Credit Card
- Bank of America® Premium Rewards® Credit Card
- Bank of America® Premium Rewards® Elite Credit Card
- Bank of America® Travel Rewards student credit card
However, the two main Bank of America travels rewards cards are the Bank of America Travel Rewards credit card and the Bank of America Premium Rewards credit card, which we will introduce below.
Bank of America Travel Rewards credit card
Welcome Bonus: 25,000 bonus points ($250 value) if you make $1,000 in purchases within 90 days of opening an account
Reward Percentage: Unlimited 1.5X points per dollar on all purchases
Annual fee: $0
Advantages: No foreign transaction costs; Introductory APR of 0 percent on purchases for 15 billing cycles (followed by a variable APR of 15.49 percent to 25.49 percent)
Why we like it: The Bank of America Travel Rewards credit card allows consumers to collect travel rewards with no annual fee. You can also save on interest for a limited time with the APR introductory offer.
Bank of America Premium Rewards Credit Card
Welcome Bonus: 50,000 bonus points ($500 value) if you make $3,000 in purchases within 90 days of opening an account
Rewards Rate: Unlimited 2x points per dollar on travel and dining; 1.5X points per dollar on all other purchases
Annual fee: $95
Benefits: Up to $100 in-flight credit per year; up to $100 for Global Entry or TSA PreCheck membership every four years; no foreign transaction costs
Why we like it: The Bank of America Premium Rewards credit card offers double points on travel and dining, plus 1.5x points per dollar spent on all other purchases. Plus, there are multiple travel credits and no fees for foreign transactions.
In comparison, the Chase Sapphire Preferred® Card, another top credit card for beginners, comes with a $95 annual fee and a more generous $750 welcome bonus (you earn 60,000 bonus points after spending 4,000 in the first 3 months of the account). $ spent on purchases. That’s $750 redeemed through Chase Ultimate Rewards®), travel credit, and a 25% bonus on trips booked through Chase Ultimate Rewards.
The Chase Sapphire Preferred Card gives you: 5x points on travel on Chase Ultimate Rewards and Lyft Rides (Lyft offer through March 2025); 3X points on restaurants, select streaming services, and online groceries (excluding Walmart, Target, and wholesale clubs); 2X points on other trips; and 1X points for other purchases.
Bank of America co-branded travel cards
Bank of America also offers a surprising number of co-branded travel credit cards aimed at specific-branded loyalists. Among them:
- Alaska Airlines Visa Signature® credit card
- Free Spirit® Travel More World Elite Mastercard®
- Allegiant World Mastercard®
- Norwegian Cruise Line® World Mastercard®
- Amtrak Guest Rewards® World Mastercard®
- Air France KLM World Elite Mastercard®
- Sonesta World Mastercard®
- Royal Caribbean Visa Signature® card
- Virgin Atlantic World Elite Mastercard®
- Celebrity Cruises Visa Signature® card
How To Redeem Bank Of America Travel Rewards?
When it comes to redeeming your Bank of America travel awards, your options may vary by card.
For example, you can use the Bank of America Premium Rewards Credit Card to redeem your rewards for travel bookings through the Bank of America Travel Center, deposits or statements into an eligible Bank of America or Merrill account, and gift cards.
With the Bank of America Travel Rewards Credit Card, you can redeem your points for cash, statements, gift cards, or travel-related purchases. Unlike other travel rewards programs, you can use your card to book travel wherever you want, e.g. on discounted travel sites. Travel-related purchases also include eligible purchases at restaurants, nightclubs, onboard, and museums. From there, you can redeem your points for travel credit through your Bank of America account.
How to maximize Bank of America travel rewards?
To get the most out of your Travel Rewards points with Bank of America, try to be as strategic as possible. As you begin redeeming points, consider how your spending can potentially earn you more points and maximize your rewards.
Join Bank of America’s Preferred Rewards program
A key way to increase your Bank of America travel rewards is to enroll in Bank of America’s Preferred Rewards program. When you do this, you get 25 to 75 percent more rewards for every dollar spent. However, note that you must meet certain qualifications to apply for this program, including:
- An active, eligible Bank of America checking account
- A combined three-month average daily balance of at least $20,000 in eligible Bank of America and/or Merrill investment accounts
Also, note that Bank of America’s Preferred Rewards program offers additional benefits like savings boosters and loan rebates for members with cash deposits. The table below shows how much more rewards you can earn as a member and how much you need to hold in eligible accounts to qualify for each tier.
|3-month combined average daily balance requirement||$20,000 to $50,000||$50,000 to $100,000||$100,000 or more|
|Credit card rewards bonus||25%||50%||75%|
Although minimum balance requirements are high, Bank of America’s Preferred Rewards program can help you earn significantly more points on your spending if you qualify. For example, at the Platinum Honors tier, Bank of America Premium Rewards credit card members can earn up to 3.5x points for every dollar spent on travel and dining and up to 2.62x points for other Purchases.
It’s also worth noting that there are two other tiers of the Bank of America Preferred Rewards program, Diamond and Diamond Honors. These levels are only available to private customers.
Compare prices in the travel portal
Remember that the Bank of America Travel Center lets you book travel at more than 200,000 hotels and resorts and more than 200 airlines, among other things. Because some Bank of America travel rewards credit cards allow you to redeem your points for travel-related credit or travel booked through the Bank of America Travel Center, you should compare the rates offered on the Travel Portal to those of other travel sites. By comparing prices you can be sure that you are getting the best deal.
Choose an annual fee card
Finally, think about your goals before signing up for a travel credit card from this issuer. Finally, an annual fee card has more uses and benefits. For example, if you pay the $95 annual fee for the Bank of America Premium Rewards card, you get a much larger sign-up bonus, significantly more rewards for travel and meals, up to $100 credit for airfare, and up to all four years a Global Entry or TSA PreCheck membership credit of $100. All of this could easily put you ahead financially.
What counts as travel for the Bank of America Travel Rewards credit card?
A major benefit of redeeming Bank of America Travel Rewards credit card points for your travel purchases is BofA’s broad interpretation of what constitutes a travel purchase. You can use points for purchases at the following locations:
- Art galleries
- Amusement parks
- Sightseeing features
- Boat rental
- Flight tickets
- Hotel reservations
- Airbnb rental
As you can see, the Bank of America Travel Rewards credit card redemption options offers great flexibility. Additionally, there are no blackout dates or restrictions.
Conclusion – How to redeem Bank of America Travel Rewards
Bank of America travels rewards may work differently depending on the card you sign up for. Therefore, be sure to compare all available award card options before deciding on a card. In the meantime, compare cards from this issuer to other travel rewards credit cards from Citi, Chase, American Express, and other major issuers. You might find that Bank of America has what you’re looking for in a travel rewards card, but you’ll never know for sure unless you check it out.