ReviewsBank of America Travel Rewards Credit Card for Students Review: Earn Unlimited 1.5 Points Per Dollar
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The Bank of America Travel Rewards Credit Card for Students is one of the best student credit cards on the market. It offers a strong sign up bonus and a great rewards rate that only gets better if you also bank with Bank of America.
Most student credit cards don’t offer rewards, so earning 1.5 points per dollar on every purchase will go a long way toward paying for a holiday visit with family or a spring break trip with friends. Use the CardCruncher tool to make sure you’re getting the most rewards for how you spend your money—and read on for full details on the Bank of America Travel Rewards Credit Card for Students.
Bank of America Travel Rewards Credit Card for Students Highlights
Here are the highlights of the Bank of America Travel Rewards Credit Card for Students:
Annual Fee: $0
APR: 0% for 12 months on purchases, then 17.24% to 25.24%
Sign-Up Bonus: 25,000 points
Bank of America Travel Rewards Credit Card for Students Benefits:
- Earn 1.5 points per dollar on all purchases
- Earn 10% more points if you have a Bank of America checking or savings account
- Free monthly FICO score
- No foreign transaction fees
- Redeem with any airline or hotel
- No blackout dates
Bank of America Travel Rewards Credit Card for Students Minimum Payment:
If your balance is less than $25, then the full statement balance. Otherwise, your minimum payment will be 1% of your balance, plus new interest charges and any late fees, rounded down to the nearest dollar, plus past due amounts.
Bank of America Travel Rewards Credit Card for Students Fees:
- Up to $39 for late payment
- Up to $28 for returned payments
Why Apply for the Bank of America Travel Rewards Credit Card for Students
Here are some of the reasons to apply for the Bank of America Travel Rewards Credit Card for Students.
Earn great travel rewards
Of the student cards that offer rewards, few offer much more than a flat 1% cash back. The Bank of America Travel Rewards Credit Card for Students earns 1.5 points for every dollar you spend. That’s about the same as earning 1.5% cash back. You’ll also earn 10% more points if you have a Bank of America checking or savings accounts, making the rate 1.65 points per dollar.
You can redeem the points you earn toward any travel purchase, too. To sweeten the deal, the card has no foreign transaction fees, so you can keep earning points while you travel without paying a premium. Not to mention, you can earn a sweet 25,000 points if you spend $1,000 on the card in the first 90 days. That can easily help pay for an upcoming vacation.
You already have accounts with Bank of America
If you already bank with Bank of America, then having a Bank of America student credit card makes managing your money a bit easier. That frees you from having to track multiple accounts and online logins, and leaves more time classwork, homework and a social life. As an added bonus, the Bank of America Travel Rewards Credit Card for Students earns 10% more points (0.15 points) per dollar if you already bank with Bank of America, so you win on multiple fronts.
Bank of America Travel Rewards Credit Card for Students: Drawbacks and Downsides
There are some downsides to consider before applying for the Bank of America Travel Rewards Credit Card for Students.
Travel rewards are less flexible
Travel rewards points are simply less flexible than cash back. You can only redeem your credit card points toward travel-related expenses with the Bank of America Travel Rewards Credit Card for Students. That means that if you don’t travel, you can’t use your points. Cash back can always be redeemed for cash, so you don’t have to worry about building up a huge cache of rewards that you won’t use.
High fees
The Bank of America Travel Rewards Credit Card for Students charges a $0 annual fee, which is great if you’re on a budget. The bad news is, the card charges other fees that can get quite expensive. Even one missed payment can be costly, with a late payment fee of $39. Cash advances will also run you a lot, with a 3% fee and a $10 minimum charge. On the bright side, there are no foreign transaction fees, which is unusual for a student credit card. That makes it a great choice if you plan on studying abroad and want to keep earning rewards.
Bank of America Travel Rewards Credit Card for Students Alternatives
If you’re not sure if the Bank of America Travel Rewards Credit Card for Students is right for you, consider these alternatives.
Bank of America® Cash Rewards Credit Card for Students
If you want a credit card with easy-to-use, cash-back rewards, consider the Bank of America® Cash Rewards Credit Card for Students. This card offers a sign-up bonus of $0 when you spend $500 in your first 90 days with the card. In addition, you’ll earn 3% cash back on a category of your choice, 2% cash back on groceries and wholesale purchases, and 1% cash back everywhere else. You can redeem as soon as your cash-back balance reaches $25.
Discover it Student Cash Back Credit Card
If you want to earn bonus rewards on categories that change each quarter, consider applying for the Discover it Student Cash Back Credit Card. You’ll earn 5% cash back on the first $1,500 you spend in each bonus category. These categories rotate every three months and have included Uber/Lyft, Amazon.com grocery stores, and hardware stores. There’s bound to be a category throughout the year where you can rack up a lot of rewards. For all other purchases, you’ll earn 1% cash back—so it’s still a great deal.
Bank of America® Travel Rewards Credit Card for Students FAQs
Here are some of the most common questions that people have about the Bank of America Travel Rewards Credit Card for Students.
Is a travel rewards card worth it?
If you like to travel, it’s hard to beat the value of a travel rewards card. Every time you swipe, you’ll get closer to your next trip. Plus, most travel rewards cards have no foreign transaction fees and offer travel perks like free checked bags.
How do I use Bank of America Travel Rewards?
Using your Bank of America Travel Rewards is easy. When you log in to your online account, you’ll see a rewards tab. Select the tab, and you’ll see your available points balance and a list of ways to redeem. You can redeem your points to pay for travel-related expenses, like hotel stays and flights.
Bottom Line: Should You Apply for the Bank of America Travel Rewards Credit Card for Students?
If you’re a student and want to earn travel rewards, it’s hard to go wrong with the Bank of America Travel Rewards Credit Card for Students. If you don’t see yourself traveling regularly, or want rewards with fewer restrictions, it’s worth looking into one of the cash-back options we mentioned. Be sure to give the CardCruncher tool a look to make sure you’re getting the best credit card based on your spending habits—and start earning for your spending.
