The Bank of America® Travel Rewards credit card is CNET's pick for the best travel credit card with no annual fee. It's particularly valuable if you're already a Bank of America customer, but still worth considering if you're not. Show
While travel credit cards with an annual fee may offer more travel perks and better rewards, this card has a solid flat rewards rate on all purchases with the opportunity to earn even higher rewards if you have a Bank of America deposit account or Merrill investment account. As is standard, the Bank of America Travel Rewards card has no foreign transaction fees. There is one significant restriction: If you want to redeem rewards as statement credits, you can only use them toward travel and restaurant charges, so be sure you specifically want a travel card before you apply. Below we review the rewards, Preferred Rewards program for Bank of America customers, additional perks and some other cards to consider. In this article
 Bank of America® Travel Rewards credit cardIntro Offer25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases. APR16.99% - 26.99% Variable APR on purchases and balance transfers Intro Purchase APR0% Intro APR for 18 billing cycles for purchases Recommended Credit Excellent/Good Reward Rates
Annual Fee$0 Intro Balance Transfer APR0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. A 3% fee (min. $10) applies. Balance Transfer APR16.99% - 26.99% Variable APR on purchases and balance transfers Balance Transfer Fee Either $10 or 3% of the amount of each transaction, whichever is greater. Late Payment Fee See terms Foreign Transaction Fees None Penalty APR up to 29.99% APR
Our TakeThis online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now. Rewards and redemptionYou'll earn 1.5 points for every dollar spent with the Bank of America Travel Rewards card, without restrictions or caps. This is a decent return rate across all purchases, but other credit cards with no annual fee offer better rewards rates on top of that. However, there are two niche opportunities to earn more points per dollar spent. Points are worth 1 cent each when redeemed for a statement credit, but you can only use statement credits for travel or restaurant charges. Though the categories are still fairly broad, this is one caveat to keep in mind when deciding if this card is right for your spending habits. Here's a breakdown of the categories you can redeem statement credits for: Travel and restaurant charges
Though not heavily advertised, there are two scenarios where you can earn more than the 1.5 points per dollar spent. One way is by booking travel through Bank of America's Travel Center, where you can earn 3 points per dollar. Many travel credit cards offer some form of branded booking platform, often with elevated rewards rates. The other way you can earn more than 1.5 points per dollar spent is if you are a Preferred Rewards member. Bank of America Preferred Rewards programIf you have a Bank of America deposit account and/or Merrill Investment accounts, you can leverage your combined balance to earn even more credit card rewards. The Preferred Rewards program offers three different tiers -- Gold, Platinum and Platinum Honors -- through which you can earn boosted rewards rate on all of your spending. Applying Preferred Rewards to Bank of America Travel Rewards card
*Combined accounts thresholds are based on a three-month combined daily average. If you already bank or invest with Bank of America or Merrill, this card can offer a competitive rewards rate across your purchases -- it's hard to find flat rates greater than 2%. The Preferred Rewards program applies beyond this Bank of America Travel Rewards card, so it could be worth looking at other Bank of America credit cards to see what best fits your spending. Welcome bonusThe Bank of America Travel Rewards credit card offers a top welcome bonus among competitors with no annual fee. You earn 25,000 bonus points if you spend at least $1,000 in the first 90 days from when you open your account. These points can be redeemed for $250 of statement credits toward travel or dining. Many credit cards with no annual fee have a welcome bonus valued around $200 or less, and between a $500 and $750 spending threshold to unlock it. But if you normally spend at least $334 per month on your credit card, this welcome bonus is better than most. Introductory APRThis card offers an introductory APR you can use to help finance a trip or other large purchase, or to transfer a balance to pay down debt more easily. The Bank of America Travel Rewards credit card comes with 18 billing cycles of 0% introductory APR on purchases and balance transfers (16.99% to 26.99% variable APR thereafter). That means you won't incur interest charges on purchases for the first 18 billing cycles after you open this card account -- as long as you make all your minimum payments on time. Similarly, you can transfer a balance you have on a high-interest credit card to get some relief from interest charges if you complete the transfer within the first 60 days of approval, with a 3% balance transfer fee ($10 minimum). We advise paying off the whole balance by the end of the promotion though, otherwise you'll be subject to a 16.99% to 26.99% variable APR thereafter. Those interest charges add up quickly. Other cards to considerCapital One VentureOne Rewards Credit CardThe Capital One VentureOne Rewards Credit Card is another travel credit card with no annual fee, with an all-around weaker offer. The rewards rate and welcome bonus are overall slightly lower, and the introductory APR promotion is a bit shorter. You'll earn 1.25 miles per every dollar spent -- which translates to a 1.25% return rate if you redeem your miles for statement credits. If you opt to book car rentals or hotels through Capital One Travel, you'll earn 5 miles per dollar. You can also unlock 20,000 miles -- a $200 value -- with the welcome bonus, after spending $500 in the first three months of account opening. You'll get 15 months of introductory APR on purchases and balance transfers -- three months less than with the Bank of America Travel Rewards card. After this period your APR will jump up to 17.99% to 27.99% variable. Chase Freedom Unlimited®The Chase Freedom Unlimited® doesn't have an annual fee and will ultimately net you greater rewards rates -- and more redemption flexibility. It's technically a cash-back credit card, rather than a travel credit card, but it can be applied to travel as well. You'll get the same 1.5% flat cash-back rate, but earn a higher rewards rate of 3% cash back on dining and drugstore purchases. If you want to book your travel accommodations through Chase Ultimate Rewards, Chase's booking platform, you can also earn 5% cash back on those purchases -- a higher rate than you'd earn when booking through the Bank of America Travel Center. Chase's Ultimate Rewards points are worth 1 cent each when redeemed for a statement credit, which can be applied to any charges. You also get 0% introductory APR on purchases and balance transfers made in the first 15 months of opening your account (17.99% to 26.74% variable APR thereafter). For more details about this card, see our Chase Freedom Unlimited review. FAQsWhat are foreign transaction fees?You won't find foreign transaction fees on most travel credit cards. Foreign transaction fees are charged by other types of credit cards when you use your card internationally. This charge is meant to cover transactional costs. In most cases, foreign transaction fees amount to 3% of the amount you charge to your credit card. What are premium travel cards?Premium travel cards are more expensive than most travel credit cards -- they typically have annual fees ranging in the hundreds of dollars. In exchange, they offer better benefits than typical travel cards, such as higher rewards rates, more annual credits or better travel upgrades. They're typically marketed to frequent travelers. What's the difference between airline credit cards and travel credit cards?Co-branded airline credit cards are designed for frequent flyers of a specific airline. Their benefits are usually more targeted to flights than general travel. For example, perks often include a discount on in-flight purchases, or companion fares that allow you to bring a guest on your trip. If you're not loyal to one airline, a general travel card usually offers better rewards for most travelers. Read more: Airline Cards vs. Travel Credit Cards Our methodologyCNET reviews credit cards by exhaustively comparing them across set criteria developed for each major category, including cash-back rates, welcome bonus, travel rewards and balance transfer. We take into consideration the typical spending behavior of a range of consumer profiles -- with the understanding that everyone's financial situation is different -- and the designated function of a card. The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners. Which Bank of America Card has no foreign transaction fee?If you're a frequent traveler, you should consider getting the Bank of America® Travel Rewards credit card or the Bank of America® Premium Rewards® credit card as they both have 0% foreign transaction fees.
How do I know if my credit card charges foreign transaction fees?If a card charges a foreign transaction fee, it will be listed in the card's terms and conditions. The 10 largest credit card companies all offer at least some cards without foreign transaction fees, and some issuers don't charge these fees on any of their credit cards.
How do I avoid international transaction fees Bank of America?Use your Bank of America ATM or debit card at one of our International partner ATMs and avoid the non-Bank of America ATM $5 usage fee for each withdrawal, transfer or balance inquiry 1 as well as the ATM operator access fee.
How much does BofA charge for foreign transaction fees?Foreign transaction fees by credit card issuer. |
Does bank of america credit card have foreign transaction fees
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