Bank of America® Travel Rewards Credit Card for Students
Card Summary
The Bank of America Travel Rewards Credit Card for Students offers flexible travel rewards with students in mind. With this card, you can earn travel rewards while building good credit and access your FICO score each month for free. The card has a $0 annual fee and no foreign transaction fees. Plus, you can keep your account secure with fraud protection and account alerts.
Bank of America Travel Rewards Credit Card for Students review: This card might be a good fit for students who want to earn unlimited travel rewards at a flat rate while building their credit. Students with at least fair credit may get more rewards value from other student credit cards, depending on their spending habits and rewards goals.
Pros
- Flat 1.5-point earning rate: The Bank of America Travel Rewards Credit Card for Students earns an unlimited 1.5 points for every dollar spent with the card. Points never expire and can be applied toward any airline or hotel with no blackout dates.
- Sign-up bonus: You can earn 25,000 online bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening. These points can be redeemed for a statement credit toward travel expenses such as flights, hotels, rental cars and other travel costs, or dining expenses.
- No additional fees: There is a $0 annual fee and no foreign transaction fee.
- Introductory APR: The card offers a 0% introductory APR for 15 billing cycles on purchases. After that, the variable APR is 16.99% - 26.99% Variable APR.
- Free credit score: The Bank of America Travel Rewards Credit Card for Students offers monthly FICO credit score access for free to help students build good credit.
Cons
- No bonus categories: Although it’s easy to plan and keep track of rewards earnings with the flat 1.5 point-per-dollar rate offered by the Bank of America Travel Rewards Credit Card for Students, other cards with bonus spending categories might have the potential to earn more rewards.
- No premium travel benefits: The Bank of America Travel Rewards Credit Card for Students lacks comprehensive travel benefits. The card has no foreign transaction fee, but it also does not have travel accident insurance, an auto rental damage liability waiver or other travel benefits that many other travel credit cards offer.
Rates and Fees
- Issuer NameBank of America
- Credit NeededNew to credit
- Annual Fee$0
- APR16.99% - 26.99% Variable APR
- Penalty APRUp to 29.99%
- Balance Transfer Fee$10 or 3% of the amount of each transaction, whichever is greater
- Cash Advance FeeDirect Deposit and Check Cash Advances: Either $10 or 3% of the amount of each transaction, whichever is greater ATM, Over-the-Counter, Same-Day Online and Cash Equivalent Cash Advances: Either $10 or 5% of the amount of each transaction, whichever is greater Overdraft Protection Cash Advance: $12 for each transaction
- Foreign Transaction FeeNone
Highlights
- Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points
- 25,000 online bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening – which can be redeemed for a $250 statement credit toward travel purchases
- No annual fee and no foreign transaction fees
- Chip Cards now with chip technology for enhanced security and protection when making purchases at chip-enabled terminals in over 130 countries
- New Offer: 0% introductory APR for 18 billing cycles on purchases. and for any balance transfers made within the first 60 days of opening your account. After the intro APR offer ends, a Variable APR that's currently 16.99% to 26.99% will apply. A 3% fee (min $10) applies to all balance transfers.
U.S. News Ratings by Card Category
What Are the Fees Associated With the Bank of America Travel Rewards Credit Card for Students?
- Annual fee: The Bank of America Travel Rewards Credit Card for Students doesn’t charge an annual fee.
- Foreign transaction fee: This card doesn’t charge a foreign transaction fee.
- Purchase of a wire transfer from a nonfinancial institution: This fee is either $10 or 5% of the amount of each transaction, whichever is greater.
- Balance transfer fee: The Bank of America Travel Rewards Credit Card for Students has a balance transfer fee of $10 or 3% of the amount of each transaction, whichever is greater
- Cash advance fee: The fee for direct deposit and check cash advances is direct Deposit and Check Cash Advances: Either $10 or 3% of the amount of each transaction, whichever is greater ATM, Over-the-Counter, Same-Day Online and Cash Equivalent Cash Advances: Either $10 or 5% of the amount of each transaction, whichever is greater Overdraft Protection Cash Advance: $12 for each transaction The fee for ATM, over-the-counter, same-day online and cash equivalent cash advances is either $10 or 5% of the amount of each transaction, whichever is greater.
- Late payment fee: The Bank of America Travel Rewards Credit Card for Students’s late payment fee can be up to $40.
What Is the Bank of America Travel Rewards Credit Card for Students’s APR?
The Bank of America Travel Rewards Credit Card for Students has a $0 introductory APR on purchases for the first 15 billing cycles after the account is open. After that, it has a 16.99% - 26.99% Variable APR variable APR on purchases and balance transfers, based on creditworthiness.
How Does the Bank of America Travel Rewards Credit Card for Students Compare With Other Popular Cards?
Bank of America Travel Rewards Credit Card for Students vs. Chase Sapphire Preferred Card
Annual fee: The Chase Sapphire Preferred Card offers a greater potential to earn rewards, but the Bank of America Travel Rewards Credit Card for Students has a lower cost to use the card. There is a $0 annual fee with the Bank of America Travel Rewards Credit Card for Students, while the Chase Sapphire Preferred Card has an annual fee of $95.
Rewards: You’ll earn 1.5 points per dollar on all purchases with the Bank of America Travel Rewards Credit Card for Students. The Chase Sapphire Preferred Card offers five points per dollar on travel purchased through Chase Ultimate Rewards; three points per dollar on dining, including eligible delivery services, takeout and dining out; three points per dollar spent on online grocery purchases (excluding Target, Walmart and wholesale clubs); three points per dollar on select streaming services; two points per dollar on other travel; and one point per dollar on all other purchases. Your rewards might go further with the Chase Sapphire Preferred Card because the card offers 25% more value for your points when you redeem them for travel with Chase Ultimate Rewards.
Sign-up bonus: The Bank of America Travel Rewards Credit Card for Students offers 25,000 online bonus points if you make $1,000 in purchases in the first 90 days of your account opening. The sign-up bonus is larger with the Chase Sapphire Preferred Card, offering 60,000 bonus points if you make after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Benefits: Bank of America Travel Rewards Credit Card for Students card benefits include zero fraud liability and monthly FICO credit score access for free. The Chase Sapphire Preferred Card offers travel benefits including trip cancellation insurance and an auto rental collision damage waiver.
Bank of America Travel Rewards Credit Card for Students vs. Discover it Student chrome
Annual fee: Neither card has an annual fee.
Rewards: The Bank of America Travel Rewards Credit Card for Students earns 1.5 points per dollar spent on all purchases. Discover it Student chrome earns 2% cash back on up to $1,000 spent in combined purchases at gas stations and restaurants each quarter, then unlimited 1% cash back after that.
Sign-up bonus: Bank of America Travel Rewards Credit Card for Students cardholders can earn 25,000 online bonus points after spending $1,000 within 90 days of opening the account. This can be redeemed for a $250 statement credit toward travel and dining purchases. Discover it Student chrome matches the cash back the cardholder earns at the end of the first year the account is open.
Benefits: Both cards offer free FICO score access. Bank of America Travel Rewards Credit Card for Students also includes $0 fraud liability, and Discover it Student chrome includes fraud monitoring.
How to Earn Rewards With the Bank of America Travel Rewards Credit Card for Students
With 1.5 points per dollar on every purchase, the Bank of America Travel Rewards Credit Card for Students has straightforward rewards earnings. There are no special categories to maximize. The card has a 25,000-point sign-up bonus worth $250 in travel if you spend at least $1,000 in purchases in the first 90 days of your account opening.
How to Redeem Rewards With the Bank of America Travel Rewards Credit Card for Students
Points can be redeemed for statement credits to pay for travel purchases including flights, hotels, vacation packages, cruises, rental cars or baggage fees. Cardholders aren’t limited to using specific websites with restrictions or blackout dates.
Should You Get the Bank of America Travel Rewards Credit Card for Students?
Yes, if you:
- Want an unlimited flat rewards rate with no bonus categories.
- Plan to spend at least $1,000 within 90 days of opening the account so you can earn the card’s sign-up bonus.
- Aren’t necessarily looking for the extra benefits offered by some other travel cards.
