Key takeaways
- The Financial institution of America® Journey Rewards bank card is taken into account a starter journey rewards card, and for good cause. It doesn’t have the sturdy advantages discovered with many different journey bank cards — however that doesn’t imply it’s not helpful for some.
- Financial institution of America Most popular 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, accommodations and associated purchases.
In case you prefer to journey or have a number of large journeys arising, you may be contemplating getting a journey bank card to complement your funds by incomes rewards. Most individuals don’t need to begin off with a premium journey bank card, which frequently 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 is available in.
This Financial institution of America bank card has no annual price however nonetheless presents sufficient advantages to get you began in your award journey journey. It additionally earns a flat charge of 1.5X factors on all purchases. The Financial institution of America Most popular Rewards program can increase the worth of this card considerably, however this system is invite-only and based mostly on the sum of your deposits with the financial institution, which we talk about additional under. Though you’ll get essentially the most out of this card as a Financial institution of America Most popular Rewards member, it would nonetheless be a worthwhile card to think about should you’re not.
We’ve created this Financial institution of America Journey Rewards bank card advantages information to assist potential cardholders perceive all that this card guarantees.
The Financial institution of America Journey Rewards bank card’s rewards advantages
Whereas the Financial institution of America Journey Rewards bank card doesn’t supply a lot by way of particular class rewards, it does nonetheless have its advantages in the case of offers, redemption choices and boosted charges.
Welcome bonus and intro APR supply
The Financial institution of America Journey Rewards bank card presents a strong welcome bonus that’s simply attainable for many cardholders. You’ll be able to earn 25,000 on-line bonus factors while 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 p.c introductory annual share charge (APR) for 15 months on each purchases and steadiness transfers. Steadiness transfers made inside 60 days of the account opening include a 3 p.c steadiness switch price. After the introductory interval ends, the continued variable APR of 19.24 p.c to 29.24 p.c takes over and the steadiness switch price rises to 4 p.c.
Assorted redemption choices
You’ll be able to redeem your rewards factors in quite a lot of methods, together with:
- Assertion credit in an eligible Financial institution of America or Merrill account. This might add up should 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 fairly broad class, that means that along with eating places, you’ll be able to probably get assertion credit for purchases from bars, lounges and nightclubs.
- Present playing cards. This redemption possibility 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 popular Rewards program
In case you’re part of the Financial institution of America Most popular Rewards program, you’ll earn as much as 75 p.c 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 | Steadiness 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% |
Though it’s worthwhile to keep a big sum of money on deposit with the financial institution to qualify for these tiers, you’ll discover that it might actually increase your earnings with the Journey Rewards card. On the highest tier, you can 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 selected time period. It can save you anyplace from 5 p.c to fifteen p.c on sure purchases by activating your supply and utilizing your card based on the supply particulars. Be aware that collaborating companies change each few weeks.
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 a few of the extra widespread journey advantages, like credit in direction of TSA PreCheck or International Entry. There’s additionally no lounge entry, journey insurance coverage or annual credit. As a substitute, the cardboard presents the next journey advantages:
No overseas transaction charges
Overseas transaction charges are usually 1 p.c to three p.c of a purchase order, which might add up shortly relying on the place you’re purchasing. In case you plan to journey overseas or store internationally whereas on-line, you a minimum of received’t bust your journey funds 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 almost the identical degree of perks and advantages, so that you’ll should resolve whether or not paying a price is price what you get with this card.
Visa Signature advantages
As a Visa bank card, the Financial institution of America Journey Rewards bank card additionally presents:
- Visa Signature® Concierge companies
- Prolonged guarantee protection
- Entry to Roadside Dispatch® for emergency automobile help
- Misplaced baggage reimbursement
- Journey and emergency help
Broad journey classes
One advantage of the Financial institution of America Journey Rewards bank card that you just don’t at all times see with different journey playing cards is how different its definition of “journey” really is. You may get journey assertion credit for purchases with:
- Airways
- Inns and motels
- Timeshares
- Trailer parks, motor properties and leisure automobile leases
- Campgrounds
- Automotive, truck, trailer and boat leases
- Cruise strains
- Journey companies, 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 excited to go to. To make the most of this perk, all it’s important to do is current your Financial institution of America debit or bank card and a legitimate picture ID on the museum web site.
Maximizing 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. However there are a number of methods to make sure this card is price it.
The underside line
In some points, the Financial institution of America Journey Rewards isn’t the easiest journey bank card on the market. Most individuals could choose a card that gives a better journey rewards charge.
However for individuals who meet Financial institution of America Most popular Rewards necessities, the cardboard may present considerably extra worth. Plus, it may very well be interesting to somebody who needs their journey rewards to be helpful for extra than simply airfare and accommodations or somebody who’s simply getting began on their journey rewards journey. However even then, there are seemingly higher playing cards accessible so that you can take your travels to the following degree.
The Financial institution of America content material on this submit was final up to date on August 13, 2024.
