Choosing the right travel credit card can be challenging, especially when comparing two strong contenders like the Bank of America Travel Rewards and Premium Rewards cards. Both offer valuable benefits, but which one is the better fit for your lifestyle? In this guide, we’ll break down their features, rewards, and perks to help you decide.
Overview of Both Cards
Before diving into the details, let’s take a quick look at what each card offers:
- Bank of America Travel Rewards: A no-annual-fee card designed for travelers who want flexible rewards without worrying about category restrictions.
- Bank of America Premium Rewards: A premium travel card with a higher rewards rate, travel perks, and an annual fee.
Rewards Structure Comparison
Both cards offer rewards on every purchase, but they differ in how they accumulate and redeem points.
Bank of America Travel Rewards
- Unlimited 1.5 points per dollar on all purchases.
- Bonus Offer: 25,000 points (worth $250 in travel) after spending $1,000 in the first 90 days.
- Redemption: Points can be used for travel purchases, including flights, hotels, and rental cars.
Bank of America Premium Rewards
- 2 points per dollar on travel and dining.
- 1.5 points per dollar on all other purchases.
- Bonus Offer: 60,000 points (worth $600) after spending $4,000 in the first 90 days.
- Redemption: Points can be used for travel, cash back, or statement credits.
Annual Fees and Costs
One of the biggest differences between these two cards is the annual fee.
- Travel Rewards: $0 annual fee.
- Premium Rewards: $95 annual fee.
While the Premium Rewards card has a fee, it also offers additional benefits that may justify the cost.
Travel Benefits and Perks
If you travel frequently, the Premium Rewards card offers more perks that can enhance your experience.
Bank of America Travel Rewards
- No foreign transaction fees.
- Flexible redemption for travel purchases.
- Basic travel protections.
Bank of America Premium Rewards
- $100 annual airline incidental credit (covers baggage fees, seat upgrades, etc.).
- Global Entry/TSA PreCheck credit (up to $100 every four years).
- More comprehensive travel insurance and purchase protections.
Who Should Choose Each Card?
Both cards cater to different types of travelers. Here’s a quick guide to help you decide:
Choose the Bank of America Travel Rewards if:
- You want a no-annual-fee travel card.
- You prefer simple, flat-rate rewards without category restrictions.
- You don’t need premium travel perks like airline credits or TSA PreCheck.
Choose the Bank of America Premium Rewards if:
- You spend a lot on travel and dining and want higher rewards.
- You can take advantage of the $100 airline credit and Global Entry/TSA PreCheck reimbursement.
- You want better travel protections and purchase insurance.
Final Verdict: Which One Wins?
The best card depends on your spending habits and travel needs:
- If you want a simple, no-fee travel card, the Bank of America Travel Rewards is a great choice.
- If you’re a frequent traveler who can maximize the higher rewards and travel perks, the Bank of America Premium Rewards is worth the $95 annual fee.
Ultimately, both cards offer excellent value, but the Premium Rewards card provides more benefits for those who travel often. If you’re unsure, consider your annual spending and whether the extra perks justify the cost.
Final Thoughts
Choosing between the Bank of America Travel Rewards and Premium Rewards cards comes down to your travel habits and financial goals. If you want a straightforward, no-fee option, go with Travel Rewards. If you’re looking for premium perks and higher rewards, the Premium Rewards card is the better choice.
Which card do you think suits your needs best? Let us know in the comments!
