Difference Between Cash Rewards And Travel Rewards Bank Of America

Bank of america travel rewards credit card is best for you if you use one card for all your purchases.
Bank of america cash rewards credit card is for reward maxi-miser and for families to save more on gas, dining and grocery.
If you are going to use a card internationally, bank of america travel card is best for you.
Cash rewards card is better if you are interested in 0% intro balance transfer.

 

Bank Of America Travel Rewards

Bank Of America Cash Rewards

Reward Rate:

1.5 points per dollar on every purchase

Earn 3% cash back in your choice category (gas, online shopping, dining, travel, drug stores, home improvement/ furnishings) and 2% cash back at grocery stores and wholesale clubs (on up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases). Earn 1% on all other purchases.

Sign Up Bonus:

25,000 online points if you spend $1,000 in first 90 days

Earn a $200 online cash rewards bonus after you spend at least $1,000 on purchases within 3 months of account opening.

Regular Apr:

16.49% – 24.49% Variable

15.49% – 25.49% Variable

Annual Fee:

$0

$0

Intro Apr On Purchase:

0%, 12 billing cycles

0% intro apr for purchase for 15 billing cycle.

Intro Apr On Balance Transfer:

N/A

0% intro apr for balance transfer for 15 billing cycle in first 60 days.

Credit Needed:

670- 850, Good to Excellent

670- 850, Good to Excellent

Foreign Transaction Fee:

$0

3% of the amount of each transaction.

Card Type:

Visa

Mastercard

Balance Transfer Fee:

Either $10 or 3% of the amount of each transaction, whichever is greater.

Either $10 or 3% of the amount of each transaction, whichever is greater.

Pros:

Many travel options for points redemption.

Unlimited 1.5% cash back

Ability to choose your own bonus category.

More than average cash back.

Cons:

No bonus category.

1.5% flat reward rate is average.

Bonus category has quarterly spending cap.

1% cash back on non bonus categories.

Not for high spenders.

Other Benefits:

25% to 75% more points for Preferred Rewards members

25% to 75% more points for Preferred Rewards members

Get It:

If you are less frequent traveller and want no annual fee travel card.

If you are Bank of America Preferred Rewards customers.

If you want to save on groceries and gas.

If you want cash back card.

If you are Bank of America Preferred Rewards customers.

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