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Best Airline Rewards Program Credit Card
Bank of America offers lesser-known cards, from the Alaska Airlines Visa to the Premium Rewards card. Here are our top 5 picks.
Top Ways To Earn Airline Miles
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While Chase and American Express tend to grab all the headlines, there are many other issuers offering rewards and travel credit cards. Bank of America is one of those under-the-radar issuers that has amazing cash back and travel rewards cards that fit any shopping style, some with no annual fee.
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If you’re looking for a new rewards card but have exhausted your options with other card issuers, consider giving the Bank of America rewards card a try. However, you should also compare each of these cards side-by-side so that you get the right income structure for your goals and the type of rewards you want to spend.
Before you apply for a Bank of America credit card, you should know that some cards offer 25% to 75% more rewards.
This may be due to Bank of America’s Preferred Rewards program, which incentivizes Bank of America customers to save money to collect more points. However, you must have a three-month average combined balance of at least $20,000 in your eligible Bank of America account to qualify.
There are three levels in the Preferred Rewards program – the level you qualify for and the bonus you will receive depends on the amount you have in your BofA or Merrill bank or investment account:
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Why you’ll love it: The Bank of America® Premium Rewards® Credit Card now offers one of the issuer’s largest sign-up bonuses. You also get travel perks like credits toward Global Entry or TSA PreCheck application fees and up to $100 in airline credits each year. Here’s our full Bank of America Premium Rewards credit card review.
Earning Structure: You’ll earn 2 points per dollar spent on travel and dining purchases and 1.5 points per dollar spent on all other purchases.
In many ways, the Bank of America Premium Rewards® Credit Card mimics the Chase Sapphire Preferred card. But there is a big difference in non-bonus category earnings – the Bank of America® Premium Rewards® Credit Card offers 1.5x points on all other purchases, while the Chase Sapphire Preferred Card earns only 1 point per dollar.
The card’s $95 annual fee is reasonable, especially when you factor in up to $100 in annual airline fee credits and Global Entry ($100) or TSA PreCheck ($85) application fee credits every four years. In addition, the card does not add foreign transaction fees.
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You can redeem rewards from your Bank of America® Premium Rewards® Credit Card for statement credits, transfers to an eligible Bank of America or Merrill account, gift cards or purchases made through the Bank of America Travel Center.
Why you’ll love it: The Bank of America® Special Cash Rewards Credit Card lets you choose the categories that will earn you the most rewards. Read our Bank of America Cash Rewards credit card review to learn more.
Earnings Structure: Earn 3% cash back on categories you choose from 2% back listings at grocery stores and wholesale clubs up to $2,500 in combined spending each quarter (then 1%). You’ll also get 1% back on all other purchases.
The Bank of America® Custom Cash Rewards Credit Card doesn’t charge an annual fee, but the rewards can pay off over time. This card allows you to choose one category to earn 3% back with options that include:
Which Credit Card Rewards Program Is The Best For Nris
You also get 2% back on grocery and wholesale club purchases, though bonus earnings are limited to a combined spend of $2,500 per quarter (then you get 1% back). The Bank of America® Customized Cash Rewards Credit Card also offers a flat 1% back on all non-bonus spending, and that’s on top of the welcome bonus.
Why you’ll love it: The Bank of America® Travel Rewards Credit Card offers generous flat-rate rewards on all spending, and you’ll pay no annual fee. Learn more about the Bank of America Travel Rewards Credit Card Review.
Earning Structure: This card gives you a flat 1.5 points for every dollar you spend with no limit or bonus category to track.
The Bank of America® Travel Rewards Credit Card offers an easy-to-understand rewards structure. You’ll earn 1.5 points for every dollar you spend on all purchases, and there’s no tracking limit. On the redemption side, you can cash in points for statement credits to cover travel purchases at a rate of 1 cent each.
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The card charges no annual fee or foreign transaction fee and comes with an introductory 0% APR on purchases for the first 12 billing cycles. After that the rate is 15.49% – 25.49% (variable).
What you’ll love: The Alaska Airlines Visa® Credit Card lets you earn valuable Alaska Mileage Plan miles along with companion fees that can help you save even more money. See our Alaska Airlines credit card review for all the details.
Sign-up bonus: 40,000 bonus miles plus a rolling companion rate code starting at $22 after you spend $3,000 in purchases within the first 90 days of account opening and Alaska companion rates starting at $121 ($99, plus taxes and fees. from $22)
Earning Structure: You’ll earn 3 miles per dollar spent on Alaska Airlines purchases and 1 mile per dollar spent on other purchases.
Best Travel Rewards Credit Cards Of July 2022
The Alaska Airlines Visa® Credit Card is popular with consumers because of the incredibly valuable Alaska miles, and travel enthusiasts also love the famous companion rate. Once you meet the minimum spend requirements for the welcome offer, you’ll receive companion fares starting at $121 ($99 fares plus taxes and fees starting at $22) when you book eligible fares with a credit card. You’ll also get a different friend rate each year you renew your card.
To top off the deal, the Alaska Airlines Visa® Credit Card lets you and up to six guests on your itinerary check bags on Alaska flights for free—the first checked bag is usually $30 each way. This card has a $75 annual fee, but it’s worth it if you can take advantage of checked bag benefits, companion fees, and other perks like 20% back on Alaska Airlines purchases.
What you’ll love: The Amtrak Guest Rewards® World Mastercard® offers superior perks for people who travel with Amtrak at any time.
Earning Structure: Earn 3x points on Amtrak travel, 2x points on other qualifying travel purchases, and 1x points on all other purchases.
The Best Bank Of America Credit Cards In 2022
The Amtrak Guest Rewards® World Mastercard® offers amazing benefits beyond the points you earn in this program. You’ll receive a free companion voucher every year, a free one-class upgrade every year, a free station lounge pass and an easier path to tier status.
This card has an annual fee of $79, but you won’t pay foreign transaction fees when you make purchases abroad. Also remember that you’ll get 20% off purchases on Amtrak when you pay with a credit card.
Please note: Although the above offers are accurate at the time of publication, they are subject to change at any time and may change, or no longer be available.
Editorial Note: Any opinions, analysis, reviews or recommendations expressed in this article are solely those of the author, and have not been reviewed, endorsed or approved by the card issuer. Read our editorial standards. Cash back cards and airline miles cards are two types of rewards credit cards. With both you get something-in one small money; in other, miles or points-when you use the card to buy. The more you spend, the bigger your bonus.
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