Bank of America® Travel Rewards® Credit Card
Simple 1.5x everywhere with no annual fee
Practical Recommendation
Want no-annual-fee travel points without homework? This is it. You get 1.5x on literally everything and 3x when you book travel through the bank's portal, then redeem points at a clean 1¢ each for travel or dining statement credits.
If you bank with Bank of America, Preferred Rewards quietly boosts earnings by 25%–75% and makes this punch above its weight. If you need lounges or chunky credits, look elsewhere. Bottom line: simple, flexible, and easy to keep long term.
Perks
- Earning, at a glance – 1.5x on all purchases with no caps; 3x on travel booked through the Bank of America Travel Center. Use the portal when prices match or beat booking direct.
- Preferred Rewards boost (25%–75%) – Enroll to get an automatic bonus on base earn; turns 1.5x into up to 2.625x and portal 3x into up to 5.25x if you qualify.
- Redemptions that are simple – Redeem for statement credits toward travel or restaurant purchases at 1¢ per point (travel/dining), or as cash into eligible Bank of America/Merrill accounts. Redemptions typically start at 2,500 points.
- No foreign transaction fees – Safe pick for international trips and foreign merchants; no 1%–3% surcharge.
- Introductory interest offer – Often includes a 0% intro period on purchases; good for planned expenses you can pay off before interest.
Protections
- Rental car insurance (secondary collision damage waiver) – Covers theft/damage to the rental car when you pay with the card and decline the agency's coverage; typically secondary in the U.S.
- Lost luggage reimbursement – Helps when a carrier misplaces your bags; caps and exclusions apply.
- Extended warranty – Adds extra warranty time on eligible purchases; useful on electronics and appliances.
- Purchase security – Short window of coverage for theft or accidental damage on eligible new items.
- Travel & emergency assistance; concierge – 24/7 help services (not insurance).
Preferred Rewards: How to Boost Your Travel Points
If you bank with Bank of America or Merrill, you can boost your travel points by 25% to 75%. Here's how it works:
How to Qualify
Step 1: Open a Bank of America checking account (required)
Step 2: Maintain qualifying balances across your accounts:
- What counts: Any mix of Bank of America deposits + Merrill accounts (IRAs and 529s included)
- How to qualify: Keep the tier's 3-month average, or get early enrollment by hitting the balance within 30 days of opening your checking account
$20,000 - $49,999
$50,000 - $99,999
$100,000 - $999,999
What It Does to This Card
Preferred Rewards boosts your earned travel points by:
- Gold: +25% boost
- Platinum: +50% boost
- Platinum Honors: +75% boost (maximum for credit cards)
The boost applies to your earned travel points after purchase, making your effective earning rates much higher.
Your Effective Rates
Important Notes
- Redemption value: Points are worth 1¢ each when redeemed for travel or dining statement credits
- No foreign transaction fees: Safe to use internationally without extra charges