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Bank of America Travel Rewards Credit Card for Students review

Written by Credit Card Reviews Writer Bankrate expert Garrett Yarbrough strives to make navigating credit cards and credit building smooth sailing for his readers. After regularly featuring his credit card, Aug. 22, 2022 Aug. 22, 2022

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Bank of America® Travel Rewards Credit Card for Students

Rewards rate Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points Annual fee Intro offer 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 Regular APR Recommended Credit Score A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Bank of America Travel Rewards Credit Card for Students Overview

Before you embark on a study abroad program, the Bank of America Travel Rewards Credit Card for Students can provide one of the best sign-up bonuses and flat-rate rewards programs you'll find on a . However, it's important to weigh how much you'll take the travel credit redemption route versus the cash rewards option. If you don't mind the steep point value drop-off for rewards outside travel, the Bank of America Travel Rewards for Students card is one of the best travel credit cards for students.

What are the pros and cons

Pros

No annual fee or foreign transaction fees Unlimited 1.5X points on all purchases—a high rewards rate for a student card Can earn 25 percent to 75 percent more rewards on all purchases as a Preferred Rewards member if you have an eligible Bank of America banking account with a qualifying balance

Cons

Redeeming for cash back drops your points’ value to 0.6 cents No worthwhile travel or student-oriented benefits outside zero foreign transaction fees

A deeper look into the current card offer

Quick highlights

Rewards rate: 1.5X points on all purchases Welcome offer: 25,000 points after spending $1,000 in purchases within the first 90 days Annual fee: $0 Purchase intro APR: 0 percent for 15 billing cycles Balance transfer intro APR: N/A Regular APR: 16.24 to 26.24 percent variable

Current sign-up bonus

After spending $1,000 in purchases within your first 90 days, you'll earn 25,000 points. These points are worth the most as a travel statement credit at 1 cent apiece, meaning your bonus is worth an impressive $250 toward travel. This is an excellent deal for students since welcome offers are not usually a given on student cards. Even compared to other cards of this caliber, this is a great that you can easily nab with an upcoming plane ticket purchase.

Rewards rate

The Bank of America Travel Rewards for Students delivers solid rewards and a nice sampling of redemption choices when compared to other student credit cards. But in practice, the possibilities are a bit shallower.

Earning rewards

This is a fantastic starter card if you want to get your toes wet with straightforward flat-rate rewards. You'll earn unlimited 1.5 points per dollar on all purchases. Plus, you won't have to deal with point expiration for the life of your account, blackout dates or limited airline choices if you're new to overseas travel. The rewards are even richer if you already bank with Bank of America. The Travel Rewards for Students is an eligible card, so you can earn between 25 to 75 percent more rewards on each purchase, depending on qualifying balances in other Bank of America accounts.

Redeeming rewards

The best way to redeem points is for a statement credit on qualifying travel purchases, including a wide scope of expenses from flights and tourist attractions to bus rides and parking fees. Your points can cover eligible travel purchases within 12 months prior to the redemption date You can also choose to receive cash rewards (as a check or direct deposit into an eligible Merrill Cash Management Account) or a gift card. Travel credit and cash rewards redemptions require a minimum of 2,500 points and gift cards 3,125 points to redeem. The variety of redemption methods are nice on paper, but you'll get the most value when you redeem rewards for travel.

How much are points worth

Points are worth the most toward a travel statement credit at 1 cent each. You'll get significantly less value if you choose to redeem for cash rewards, which water down your points to a 0.6 cent value. Bank of America states that your point value may vary toward gift cards, so that means you may get more value out of redeeming for gift cards than cash back. If travel is your goal, this shouldn't hinder your ability to use rewards. But if you're searching for more flexibility, a straight might make more sense for you.

Other benefits

The Bank of America Travel Rewards for Students card's biggest stumbling block is the complete absence of any travel or outside no foreign transaction fees. In fact, even non-travel at the student/limited credit level carry , such as auto rental collision damage waiver insurance, travel accident insurance and 24-hour travel assistance services.

Rates and fees

Naturally, this travel card doesn't charge foreign transaction fees. There is also no annual fee-a nice perk for students just learning the world of rewards. If you're applying because you have a study abroad opportunity coming up, the 15-billing cycle 0 percent purchase intro APR (16.24 to 26.24 percent variable APR thereafter) is a wonderful offer to keep interest at bay from any large purchases it takes to make the leap, like airfare and enrollment costs.

How the Bank of America Travel Rewards for Students compares to other student cards

Overall, the Bank of America Travel Rewards for Students card yields one of the best rewards rates and sign-up bonuses among student cards, but the travel benefits and rewards value outside travel are weak by comparison. Travel statement credits are useful while abroad, but a cash back card can provide similar reward rates with more redemption flexibility and long-term value. Even another student card may offer a better value. earns 3 percent back in a choice category-including travel-2 percent back on wholesale clubs and grocery stores, along with 1 percent back on all other purchases. Although the 2 and 3 percent categories are capped at $2,500 per quarter in combined purchases (then 1 percent back) the card might have more long-term rewards potential. If you still want flat-rate rewards, however, the card provides up to 1.25 percent cash back if you make your card payment on time (1 percent cash back on purchase, boosted to 1.25 percent for on-time bill payments). Plus, this card offers more travel and student features, including unlimited 5 percent cash back on hotels and rental cars booked through Capital One Travel, Terms apply.Here's a look at some other rewards cards that might be a better alternative:

Bank of America® Travel Rewards Credit Card for Students

star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon Bankrate Score Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. Annual fee Intro offer 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 Rewards rate Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Journey Student Rewards from Capital One

on Capital One's secure site Annual fee Intro offer Intro offer is not available to this Capital One credit card Rewards rate Earn 1% cash back on all your purchases. Pay on time to boost your cash back to a total of 1.25% for that month Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Capital One QuicksilverOne Cash Rewards Credit Card

on Capital One's secure site Annual fee Intro offer Intro offer is not available to this Capital One credit card Rewards rate Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply Earn unlimited 1.5% cash back on every purchase, every day Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Best cards to pair the Bank of America Travel Rewards for Students card with

The best cards to partner with Bank of America's student travel card will add more reward opportunities and student or travel benefits to your arsenal. The Bank of America Cash Back student card, for instance, would rack up higher-value rewards on everyday living expenses, and it also qualifies for Preferred Rewards. On the other hand, a card like the can earn up to 5 percent cash back on purchases in its when you active (up to $1,500 in combined purchases, then 1 percent). On top of that, it matches all the cash back you earn at the end of your first year.

Bankrate s Take - Is the Bank of America Travel Rewards for Students card worth it

By all appearances, the Bank of America Travel Rewards Credit Card for Students is a solid, straightforward starter card-but "straightforward" becomes "stripped-down" in application. It carries a high-earning rewards rate on all purchases and a hefty sign-up bonus compared to other student cards, and its redemption options seem diverse as well. But the Bank of America student travel card's points lose power for anything outside travel statement credits. It's one of the few student cards specifically tailored toward travel, which makes it a natural choice if you're looking to study abroad. But since you lose rewards value on non-travel redemptions, you might want to consider a flat-rate student cash back card if you don't travel often. All information about the Bank of America® Travel Rewards Credit Card for Students and The Bank of America® Cash Rewards Credit Card for Students has been collected independently by Bankrate and has not been reviewed or approved by the issuer.

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Written by Garrett Yarbrough Credit Card Reviews Writer Bankrate expert Garrett Yarbrough strives to make navigating credit cards and credit building smooth sailing for his readers. After regularly featuring his credit card, credit monitoring and identity theft analysis on NextAdvisor.com, he joined the CreditCards.com and Bankrate.com teams as a staff writer to develop product reviews and comprehensive credit card guides focused on cash back, credit scores and card offers.

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