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Bank Of America Boosts Travel Rewards

You'll earn 1.5 bonus points per dollar spent.Capital One has blanketed the airwaves with the message that its Cash Card pays “50% more” than other cash-back rewards cards, most of which pay only a 1% rebate.

Now Bank of America has taken the “50% more” concept to travel points with its new BankAmericard Travel Rewards credit card (www.bankofamerica.com/creditcards).

The idea is to reward your loyalty: the longer and more frequently you use the card, the more points you get.

In the case of this card, the more accounts you have with Bank of America and its subsidiaries and the more you use their services, the more points you can earn.

The card, which has no annual fee and no foreign transaction fees, pays customers 1.5 points for every dollar spent on purchases.

The points are redeemable for travel credits, cash, merchandise and charitable contributions. Rewards can be redeemed once you earn 2,500 points, which are worth $25.

Points redeemed for travel are applied as a statement credit to your account to offset qualifying travel purchases.

There are no limits on how many points you can earn, and there are no blackout dates. The points never expire.

Here’s a look at the credit card details:

APR 0% on purchases for the first 12 months, then 14.99% to 22.99% variable on purchases, balance transfers and cash advances.
National Average APR 14.91% (source: CreditCards.com)
Annual Fee No annual fee.
Rewards 1.5 points per dollar on all purchases; 3 points per dollar on the first $6,000 of travel purchases booked through Bank of America; 10,000 bonus points for spending $500 in first 90 days; 10% annual points bonus if you have another Bank of America or Merrill Lynch account.
Verdict If you’re a loyal Bank of America customer, you can earn lots of extra points.

In addition to the basic rewards points, cardholders can earn additional bonus points.

There’s a start-up bonus of 10,000 points if you charge at least $500 on your new card within the first 90 days of the opening date.

You earn double points, or 3 points per dollar, if you book airline tickets through Bank of America’s Travel Center.

The double-points bonus only applies to the first $6,000 in airline purchases, or up to 9,000 bonus points. But all other purchases made at the Travel Center, except insurance purchases, receive 3 points per dollar, with no limit on bonus points.

In addition, if you have a checking, savings or retirement account with Bank of America or its Merrill Lynch unit, you get an annual points bonus of 10% of the amount you spend on the card each year, or 1 bonus point for every $10.

Compare this deal with the airline miles credit card offers in our database.

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