Credit Cards

Bank of America® Unlimited Cash Rewards vs Bank of America® Travel Rewards card

By comparing Bank of America® Unlimited Cash Rewards x Bank of America® Travel Rewards cards you will be in a better position to decide which is best for you.

Advertisement

Which is the one for you? A clash between cash and travel rewards

Are you more of a travel enthusiast or do you prefer a lot of cash back? Source: The Post New.

If you are looking for rewards credit cards, nothing beats a good old comparison. In this article, we compare two heavyweight reward champions: Bank of America® Unlimited vs Travel Rewards card. Check it out!

Both of these cards will earn you rewards at a 1.5 rate. For the Bank of America® Unlimited Cash Rewards, this means 1.5% cash back on all purchases.

For the Bank of America® Travel Rewards card, it means 1.5 travel points per dollar. Keep reading and check out the comparison.

Bank of America® Unlimited Cash Rewards: how does it work?

Bank of America® Unlimited Cash Rewards Credit Card
For a $0 annual fee, you can get a lot of cash back into your pocket. Source: The Post New.

The Bank of America® Unlimited Cash Rewards is a $0-annual-fee credit card which earns you a flat 1.5% cash back on all purchases. Have a look at its features below so you can compare the Bank of America® Unlimited vs Bank of America Travel Rewards card.

Highlights

  • Earn 1.5% cash back on all purchases with no spending cap.
  • Non-expiring cash back rewards.
  • Get 18 billing cycles of 0% intro APR on purchases and balance transfers made within the first 60 days since opening the account.
  • As a Preferred Rewards member, you can earn 25% to 75% more cash back on all of your purchases. This means an earning rate of up to 2.62% on every dollar.

Pros

For starters, the Bank of America® Unlimited Cash Rewards does not charge an annual fee. The card also comes with a long 0% intro APR period which lasts for 18 billing cycles. 

This card also offers a cash bonus of $200 after you make at least $1,000 in purchases within the first 90 days from account opening.

Add that to the card’s ongoing cash back rate of 1.5%, and you will be saving good money on your purchases.

Cons

In order to get access to the best rewards the Bank of America® Unlimited Cash Rewards has to offer, you must be a Preferred Rewards member.

To become a member of the Preferred Rewards program, you must keep more than $20,000 in combined deposits in Merrill investment accounts and at Bank of America deposit accounts.

This means besides having good to excellent credit, you must have a significant amount in savings deposited in one of these institutions.

We should also point out that when you make a balance transfer, there is a 3% fee on the amount of each transaction. Either 3% or $10, depending on which is greater.

Bank of America® Unlimited Cash Rewards Credit Card

Apply to Bank of America® Unlimited Cash Rewards

Applying for a Bank of America® Unlimited Cash Rewards Card is easy, and you get exclusive benefits if you do it online. Check out this post and learn hwo to apply.

Bank of America® Travel Rewards card: how does it work?

Bank of America® Travel Rewards Card
This credit card will take you places with the travel points you’ll get. Source: The Post New.

The Bank of America® Travel Rewards card is an excellent choice for individuals who travel frequently. It offers flexible rewards and does not charge an annual fee.

Highlights

  • Earn unlimited 1.5 points per dollar on all purchases.
  • Non-expiring rewards.
  • Book trips with your card with no blackout dates and get statement credit towards dining and travel purchases.
  • Get 18 billing cycles of 0% intro APR on purchases, and any balance transfer you make within the first 60 days since opening the account.
  • As a Preferred Rewards member, you can earn 25% to 75% more points on all of your purchases. This means an earning rate of up to 2.62 points on every dollar.

Pros

The Bank of America® Travel Rewards card does not charge an annual fee. Still, it offers a welcome bonus of 25,000 points after you spend the first $1,000 within 90 days from account opening.

You can redeem those points as a $250 statement credit that you can spend on travel purchases. You can use the card to book trips any way you want, not limited to specific websites.

The card comes with a 0% intro APR period of 18 billing cycles. During this period you will not pay any interest on purchases or any balance transfer you make within the first 60 days from account opening.

It does not charge a foreign transaction fee. For a travel card, this is extremely relevant, and saves you from 1% to 3% fees that other cards usually charge. Plus, it offers flexible rewards redemptions.

Also, by making travel purchases through the Bank of America Travel Center, you can maximize your earnings and make up to 3 points per dollar.

Cons

Just like the previous card, in order to get access to the best rewards the Bank of America® Travel Rewards card has to offer, you must be a Preferred Rewards member.

Also, this card does not offer any bonus categories to help you maximize your earnings. Combined with its excellent score requirement, it makes a card that is not for everyone.

The card charges a 3% or minimum $10 fee on the amount of each balance transfer (whichever is greater).

Bank of America® Travel Rewards Card

Bank of America® Travel Rewards Card application

Curious about the Bank of America® Travel Rewards Card application process? Wonder what you need to do to get started? This article has all the answers.

Which one should you choose?

Both of these cards fall pretty much within the same category when it comes to earnings rate and credit requirements. If you think about it, deciding among these two cards is a matter of what is important to you.

Are you looking for a card that will help you cover travel costs thanks to the benefits it offers? Then the Bank of America® Travel Rewards card is what you are looking for.

If, on the other hand, you are looking to get some back from every purchase, then the Bank of America® Unlimited Cash Rewards is your card.

Also, you should keep in mind your actual habits. If you do not travel much, the Bank of America® Travel Rewards card will not benefit you much. 

It is best suited for people who travel habitually. These are the people who will be making the travel purchases which contribute to the card’s reward system.

The Bank of America® Unlimited Cash Rewards will help you make the most off of everyday spending, since it offers a flat rate on all purchases.

Both cards charge no annual fee, and both have similar rewards limitations for non-Preferred-Rewards members. So, which is more important for you? Travel or cash?

If you can not decide yet, consider a third option. The Bank of America® Customized Cash Rewards allows you to pick your bonus categories to earn extra cash back. See how it all works on the following article.

Bank of America® customized cash rewards

Bank of America® Customized Cash Rewards review

If you value high-quality service and enjoy receiving benefits and rewards, this credit card is perfect for you. read this review to see all it has to offer you.

About the author  /  Danilo Pereira

Danilo is a copywriter with a passion for learning. Deeply interested in philosophy, politics and arts.

Trending Topics

content

The Credit Pros application

Learn the application process for The Credit Pros and how they can help you achieve a healthier financial future in no time!

Keep Reading
content

Ink Business Premier℠ Credit Card review

Get an inside look at the features of the Ink Business Premier℠ Credit Card. Read on for our full review to find out if it's right for you.

Keep Reading
content

PayPal Prepaid Mastercard® Review: Beyond Spending!

Discover financial freedom with the PayPal Prepaid Mastercard® in this review. Shop, dine, and manage your money smarter!

Keep Reading

You may also like

content

Sanlam Personal Loans application: quick Funding

In this Sanlam Personal Loans you will learn how to get your loan within just a few minutes. Read on and find out how!

Keep Reading
content

Pioneer Military Loans review: get a loan easily

Read this Pioneer Military Loans review and see how it gives you excellent conditions to borrow, and a wide range of loan amounts.

Keep Reading
content

WeFixMoney Loans review

Check out our WeFixMoney Loans review to learn how you can get one day funding for your personal loan with the best lenders in the market!

Keep Reading