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The Bank of America Travel Rewards and Bank of America Cash Rewards cards are two high-reward cards with no annual fees – find out which one is best for you.
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How To Maximize Your Bank Of America Customized Cash Rewards Credit Card
Bank of America takes customer loyalty to the next level with two credit cards that reward you for your spending habits and sprinkle with unique benefits you don’t often see anywhere else. Both the Bank of America® Travel Rewards Credit Card and the Bank of America® Customized Cash Rewards Credit Card come with better rewards rates than you’d expect from cards with no annual fee.
While both cards can be valuable for different lifestyles, they are especially beneficial for those who also have Bank of America checking or savings accounts. Bank of America Preferred Rewards customers (who meet certain account balance requirements) can earn up to 75% in rewards with both cards.
The Travel Rewards Card earns 3 points and 1.5 points per travel purchase booked through a Bank of America Travel Center (such as flights, hotels and rental cars). Dollars for every purchase.
The Customized Cash Rewards Card earns 3% cash back in the category you choose (gas, online shopping, dining, travel, pharmacy, home improvement/furniture), 2% cash back on grocery store and wholesale club purchases And 1% cashback on other purchases. However, keep in mind that your rewards are limited to $2,500 in quarterly spending in the 3% and 2% categories, after which they drop to 1%.
Guide To Earning The 3 Percent Cash Back Bonus From The Bank Of America Cash Rewards Credit Card
Cash back or points: that’s the question. It really depends on whether you want to earn points that you can convert to bank statements or use for travel, or whether you’d rather earn straight cash.
Bank of America Travel Rewards offers a sign-up bonus of 25,000 points if you spend $1,000 within the first 90 days. Bank of America Travel Points cost 1 cent per point, so 25,000 points equals $250. Not a bad sign-up bonus as this card doesn’t charge an annual fee.
For an introductory cash back card, the Bank of America Customized Cash is very generous with a $200 welcome bonus if you spend $1,000 in the first 90 days. It’s not the best among other cash back credit cards, but it’s not the worst. Plus, for many cardholders, it’s easy enough to spend $1,000 in 90 days.
You can redeem your points through the Bank of America Travel Center, as cash rewards (at 0.6 cents per point) and gift cards (variable point value). You can redeem your points on travel, booked through a third party website or you have made within the last 12 months.
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The Bank of America Customized Cash Rewards Card also offers variable redemption options. Unlike some cash back cards that only allow you to redeem your rewards for an account statement, Bank of America allows you to deposit your money back into another account, redeem for credit, or mail. Select check through.
Both of these Bank of America cards can potentially earn you more rewards if you qualify for Bank of America’s Preferred Rewards program. In essence, if you have a significant deposit in a Bank of America checking or savings account or a Merrill Investment Account, you stand to increase your reward rate by 25%, 50% or 75% depending on the level you meet. You are eligible for
For the Bank of America Travel Rewards card, if you qualify for the lowest level, Gold, your points will increase per capita. From $1 to 1,875. For Bank of America Customized Cash, you’ll earn 1.875% if you qualify for gold.
Bank of America Travel Rewards charges no annual fee, earns a fixed points rate on all purchases and allows you to spend points on travel through your travel portal. What more could you ask for in a beginner travel credit card?
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The card defines “travel” broadly, which means you can earn your points on flights, hotels, vacation packages and more. Since you’re not limited to any number of travel partners, the value of your rewards is the same regardless of which airline you fly with or which hotel you stay at.
We recommend that you use this card to earn most (or most) points on your travel spend as quickly as possible, as 1.5X points are relatively low compared to other travel cards. Another incentive to use a Travel Rewards card as your primary travel card is the fact that you earn $3 per dollar spent when booking through the Bank of America Travel Center. And of course, be sure to earn 25,000 bonus points to increase the value of the card.
Sometimes it’s hard to predict which category you’ll spend more on, but the Bank of America Customized Cash Rewards Card offers up to 6 variable 3% cash back categories for your future spending. It is also a great advantage that you can change the category once a month.
Very attractive to cardholders who want to earn bonus cash back through online shopping or gas. 2% back at grocery stores and wholesale clubs is also next to nothing, making it ideal for families who spend a lot on gas and groceries. Keep in mind, however, that awards in the 3% and 2% categories are limited to $2,500 per person. Quarterly (then you earn 1%).
Bank Of America Cash Rewards Credit Card Review
When it comes down to it, the Bank of America Cash Back Card is the best card for all seasons. It has eight bonus categories that earn 3% or 2% on significant daily spending and you can change six of them monthly. You can use it as your motherboard for all your shopping, or just when buying gas or groceries, and it will still give you great value.
The Bank of America Travel Rewards Card is great as your first travel card in addition to your other primary cards. We recommend it to those who travel occasionally, but not serious globetrotters.
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Bank Of America Cash Rewards Review: Do You Have $50k?
Both cards offer great rewards through welcome bonuses and regular spend. But if you’re a serious traveler, the Venture X is probably the best option for you.
At first glance, it may be difficult to see the difference between the Venture and VentureOne cards. Read on to see why the Venture Card — even with its annual fee — might be a better choice for you.
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