BoA Travel Rewards Credit Card Review (2018.7 Update: 25k Offer!)

Bank of America Travel Rewards Credit Card Review

2018.7 Update: The new offer is 25k, and this is the best offer ever on this card!

Application Link

  • BoA Travel Rewards.
  • BoA Travel Rewards for Students. Note: student version has the same benefits as the regular version except the sign-up bonus. We suggest students apply for student version, non-students apply for non-student version, as suggested by their names.

Benefits

  1. 25k offer: earn 25,000 points after spending $1,000 in first 3 months. The value of these points is $250.
  2. Earn 1.5x points per $1 spent on all purchases.
  3. How to redeem the points: you can redeem the points for statement credit to cover travel expenses at a fixed ratio 1 cent/point. You can also redeem the points for cash or gift cards, but the ratio is very low.
  4. If you have checking/savings/brokerage account in BoA or Merrill Edge: earn an additional 10% bonus points if you have a regular account; an additional 25% bonus points if you have a Gold tier ($20k or more in balance); 50% if Platinum tier ($50k or more in balance); 75% if Platinum Honors tier ($100k or more in balance).
  5. No foreign transaction fee.
  6. No annual fee.

Recommended Application Time

  1. We recommend you apply for this card after you have a credit history of at least one year.
  2. You can have at most 1 BoA credit card if you are an undergrad student, 2 if grad student. Other people don’t have such a restriction, but BoA may cancel your credit cards to 4 if you have too many.
  3. You can have multiple same credit card from BoA. You must wait at least 90 days to apply for the same credit card, otherwise the application will be automatically cancelled.
  4. [New] 2/3/4 Rule: BoA will only approve you for at most: 2 cards per rolling 2 months; 3 cards per rolling 12 months; and 4 cards per rolling 24 months. Because their IT system hasn’t been fully updated yet, you may not get declined because of this rule. Instead, you may get approved at first, and then the account will be closed because of “approved in error”.

Summary

$250 bonus offer is quite good for a no annual fee card. If you have $100k+ balance in BoA or Merrill Edge, you can earn 1.5%*(1+75%)=2.625% in return! This return is the highest among all credit cards for non-bonus category, and suitable for those who really spend a lot. The money in BoA or Merrill Edge is not required to be in form of cash, you can buy some MMF (Money Market Funds) which has very little risk (such as VMMXX), so there really isn’t much opportunity cost if you have such money. Besides, it has no Foreign Transaction Fee (FTF) and no annual fee, so it is useful to those who need to make foreign purchases but do not want to pay annual fee.

Related Credit Cards

After Applying

  • Click here to check BoA application status.
  • BoA reconsideration backdoor number: 877-383-0120 or 866-811-4108. It seems that the number is changing. Please inform us at once if it fails. The representatives here can get in touch with decision-makers directly.

Historical Offers Chart

Application Link

  • BoA Travel Rewards.
  • BoA Travel Rewards for Students. Note: student version has the same benefits as the regular version except the sign-up bonus. We suggest students apply for student version, non-students apply for non-student version, as suggested by their names.

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