BankAmericard Travel Rewards Credit Card Improves Bonus

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BankAmericard Travel Rewards Credit Card Improves Bonus

Post by Admin on Tue Apr 19, 2016 7:01 pm

Bank of America has just improved the bonus offer on its BankAmericard Travel Rewards credit card. You’ll receive 20,000 bonus points after spending $1,000 in the first 90 days. Since 100 points equal $1 in travel credit, that’s equal to $200 in travel, a pretty nice bonus considering the average person is more than likely to spend $1,000 in a 3 month period.

In addition to the bonus, you’ll earn an unlimited 1.5 points for every $1 you spend, equivalent to 1.5% cash back to spend on travel. Plus, if you have a qualifying Bank of America checking or savings account you’ll get an additional 10% bonus on every single purchase, bringing the cash back to spend on travel up to 1.65%, the highest rate you’ll find for a no-fee card. The reward rates can get really interesting if you are a Gold, Platinum or Platinum Honors Bank of America customer. Those customers can earn an even greater bonus on every purchase – from 25% to 75%. At 75%, that makes the reward rate on this card 2.625%, the highest base reward rate of any credit card we’ve found, even better than those charging considerable annual fees. Of course, to get that high rate you would need to have over $100k in a BofA checking account. Read this blog post for more information.

It’s easy to redeem your miles for travel with no restrictions or blackout dates. Just apply your earned miles as a statement credit toward all or part of your travel purchases – for flights, hotels, vacation packages, cruises, rental cares, baggage fees, taxis, etc. The fact that you can use your miles to book travel however you like with whoever you like gives you a lot of flexibility. It’s also nice that you don’t need to pay for 100% your travel with miles, you can mix it up and pay for part with miles and part with credit.

Plus there are no foreign transaction fees and no annual fee. Both these things can really help keep costs down, as foreign transaction fees are typically 3% of the purchase amount – something that can really add up if you’re using your card outside the US.

If you’re not a Bank of America checking customer, and you know you’ll spend over $12,000 per year on your card, you should also consider the Capital One Venture card. It offers an even more generous 40,000 mile intro bonus (equivalent to $400 in travel) and a higher 2 miles per dollar spent ongoing reward rate. The catches are that you need to spend $3,000 in the first 3 months of card membership to qualify for the bonus, and it charges a $59 annual fee, although it is waived the first year. If you’re spending at least $12k on the card annually, the higher rewards rate will offset that fee.

Overall, BankAmericard Travel Rewards credit card is a great choice for anyone looking for a no-fee travel rewards card with a large intro bonus, high ongoing rewards and easy, flexible redemption. For those who have Bank of America checking accounts, especially ones with higher balances, it’s practically a no-brainer.

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