The Travel Rewards credit card is the perfect financial tool for frequent travelers, as its benefits are tailored to this type of consumer profile.
In this article, we’ll show you how to apply for a Bank of America Travel Rewards credit card, including its advantages and the applicable interest rates. Here are the topics we’ll cover:
- What do you know about Bank of America?
- Bank of America Travel Rewards Credit Card
- Fees associated with the Travel Rewards Credit Card
- Requirements to apply for the Travel Rewards Credit Card
- How to apply for a Travel Rewards credit card
- Why is the Travel Rewards Credit Card a good option?
- Contact information for Bank of America
What do you know about Bank of America?
Bank of America is one of the most prestigious financial institutions in the United States, not only because of the amount of its subscribed capital, but also due to its proven commitment to serving millions of customers.
As the second most solvent bank in the country, it serves a portfolio of 57 million clients, many of whom report receiving excellent service from the institution.
Since 2007, Bank of America has maintained an impeccable track record, and its growth in the banking sector is evident, as it now offers a broad range of financial products and services.
Product Catalog Available at Bank of America
Bank of America offers a wide range of financial products. In addition to accounts for managing your funds, you’ll find a dedicated section for financing solutions.
Here, you can explore options for home loans, auto loans, and personal loans. If you’re interested in investing your capital, there are also excellent opportunities available.
However, credit cards remain the most popular choice—not only do they let you make payments conveniently, but you also earn benefits with every purchase.
Bank of America Travel Rewards Credit Card
This credit card is designed specifically for frequent travelers, providing a line of credit while also rewarding you for purchases made abroad.
Additionally, Bank of America stands out by waiving any foreign transaction fees as well as the annual fee.
This feature has earned it a strong reputation in the banking market, as it lowers the Total Annual Cost, making it a very appealing option for any customer.
Key Features of the Travel Rewards Credit Card
The Travel Rewards credit card stands out thanks to a number of features that set it apart from other cards offered by this bank. Some of the most important include:
- No introductory APR is charged for the first 18 billing cycles, starting from when the card is issued.
- Earn over 25,000 bonus points when you spend at least $1,000 within the first three months after the card is issued.
- Gives you the opportunity to enroll in the Preferred Rewards Program, allowing you to redeem points for airline tickets, travel, or hotel stays.
- Offers preferred rates on purchases made abroad, while also earning redeemable rewards points.
- No application or annual fees.
- Variable interest rate.
- Features contactless chip technology for faster and more secure transactions.
- You can also add this card to your digital wallet to make payments through the Bank of America App.
However, its most important feature is that it is an internationally accepted credit card, offering you an overdraft option along with a platform that protects your purchases.
Fees Applied to the Travel Rewards Credit Card
Each credit card carries a different interest rate. For the Travel Rewards card, Bank of America sets the following percentages for purchases, balance transfers, and cash advances.
- For purchases and regular spending, the Annual APR ranges from 16.24% to 26.24%.
- For balance transfers made using the credit card limit, the same rate applies as above. However, you should also consider the bank’s transfer fee.
- For cash advances at bank branches or ATMs, the APR ranges from 19.24% to 29.24%, depending on your creditworthiness.
If you miss your scheduled payments, a penalty rate may be applied, which can exceed 29.99% of your outstanding balance.
Fees Charged for Using Travel Rewards Credit Cards
Like other financial institutions, you’ll need to pay certain fees associated with transactions made with this card, which we outline below.
- If you make wire transfers from a financial institution other than Bank of America, you’ll need to pay an additional fee equal to 5% of the total amount withdrawn.
- For balance transfers made using your card’s funds, in addition to interest charges, you’ll need to pay the greater of $10 or 3% of the total transaction amount.
- Cash withdrawals made at the counter or from ATMs are also subject to a fee, which is the greater of $10 or 3% of the total amount withdrawn.
As noted earlier, for this type of credit card, the bank waives the initial fee and any extra charges related to the application process.
Requirements to Apply for the Travel Rewards Credit Card
Like all banks, to qualify for this credit card, you must meet the following conditions and requirements established in the institution's legal framework.
- Be at least 18 years old.
- Have a government-issued identification from a U.S. authority, or if you are a foreign national, hold a valid passport with a current visa.
- Have legal residency status in the United States—in other words, be a U.S. citizen or resident.
- Submit your application online through the official Bank of America website.
- Be employed in a salaried position for at least three months, with proof of consistent income.
Of course, you must not be delinquent with this or any other financial institution, as your application will be immediately rejected until you resolve your status with the bank.
Documents Required for the Travel Rewards Credit Card Application
To verify the information provided during the online application process, Bank of America requires you to submit several documents, which we outline below.
- Social Security card or another document that identifies you as a resident citizen of the United States. You can also provide your driver’s license or a document issued by your employer.
- If you are a foreign resident, in addition to your valid immigrant visa passport, you’ll need to include the Border Crossing Card (DSP-150) as well.
- A document proving your legal address registration.
- A document from your employer that confirms your employment status, salary, and includes your personal details.
If any additional documents are needed, the bank will contact you through the usual channels to inform you of any missing requirements in order to approve your credit card application.
How to Apply for a Travel Rewards Credit Card
One unique aspect of this bank is that both account management and credit card applications are handled entirely online. So, if you're interested in applying for this card, just follow the steps we've outlined below.
- On the official Bank of America website, go to the main financial products menu and select the Credit Cards option.
- You’ll then see a list of cards the bank offers. Find the "Bank of America Travel Rewards" option and click the link to view its details.
- After confirming your selection, click on "Apply Now."
- The application form will appear for you to enter your personal and financial information to create your credit profile. Click "Save and Continue."
- Upload the required documents online to verify your personal information. Save your changes and accept the website’s terms and conditions.
Afterward, your application will be sent to the bank’s credit analysis department to review your information and determine if your profile meets their requirements.
Can I only apply for this card online?
No, although applying online is a very convenient option for many people, Bank of America also allows you to apply in person if you feel more comfortable with that process.
To do so, simply visit the branch closest to your home or workplace and speak with a customer service representative to formally apply for the card and submit the required documents.
You also have the option to complete this process through the Bank of America telephone customer service center by calling 800-932-2775 and asking the operator to start your card application process.
Why is the Travel Rewards Credit Card a great choice?
Not only does this card make the application process easy for customers and provide you with a spending fund, but we also want to share more reasons why the Travel Rewards card is an excellent option for travelers.
- You can join the Preferred Rewards program, which lets you earn points for purchases made both domestically and abroad.
- These reward points can be redeemed for products and services frequent travelers love, like airline tickets, accommodations, and hotel stays—or you can even convert them into cash back credits.
- You’ll receive bonus rewards for spending over $1,000 within the first 90 days.
- The bank waives the annual fee and there’s no introductory APR for the first 18 months.
Beyond these benefits, the Travel Rewards Credit Card offers a special low rate for your international spending, making it perfect for customers who travel abroad frequently.
Things to Consider Before Applying for a Travel Rewards Credit Card
It's important to note that these types of cards are specifically designed for customers who travel frequently. Otherwise, they may not be the best option for you.
These cards offer significant benefits, such as waiving certain fees for international purchases. So, if you mainly use the card for local spending, you won't be taking full advantage of its greatest benefit.
How to Contact Bank of America
If you’re interested in applying for this card in person or need assistance from a financial advisor, you can visit the main branch located in North Carolina.
If you’d rather receive digital information about this product, you can reach out through the ‘Online Banking’ section on the website. Just fill out the form, submit your request, and wait for a response.
Bank of America Contact Number and Official Website
The Bank of America phone support team can also assist you. Simply call 800-732-9194 to speak with a Customer Service representative.
If you’d like to check the details and benefits of this or any other card issued by the bank, I invite you to visit the Bank of America website and select the product you’re interested in from the home page.
Conclusion
The Travel Rewards card is a great option for those who frequently travel abroad. If that’s not your case, we recommend looking into the other options this bank offers so you can choose a card that best fits your spending habits.
Disclaimer: Getting approved for this credit card involves certain risks. To avoid them, we suggest you read the terms and conditions provided by Bank of America.
References
Bank of America website - Bank of America - Banking, Credit Cards, Loans and Merrill Investing
terms and conditions - Tarjetas de crédito: encuentre y solicite en línea una tarjeta de crédito en Bank of America
