Bank of America® Travel Rewards Credit Card for Students
You can earn 3% or 2% cashback on purchases upto $2,500 per quarter in combination choice categories, and grocery stores (1%) by using Bank of America card
Card Summary
Students will love the flexible rewards that Bank of America Travel Rewards Credit Card for Students provides. This card allows you to earn rewards for your travels, build credit, and get access to your FICO score every month.
There is no annual fee, and there are no foreign transaction fees. You can also keep your account safe with account alerts and fraud protection.
Bank of America Travel Rewards credit card for students:
The Bank of America Travel rewards credit card for students is a great choice for those who are looking to get unlimited travel rewards and build their credit. Based on how they spend and their rewards goals, students with less than perfect credit might be able to get higher rewards from student credit cards.
The pros:
Flat 1.5 point earning rate: Students can earn 1.5 points per dollar they spend on the Bank of America Travel Rewards credit card. You can use points to book any hotel or airline without blackout dates and they never expire.
Sign up bonus: Earn 25,000 bonus points online if your first 90 days are spent making at least $1,000 of purchases. You can redeem these points for a credit towards travel expenses, such as hotels, rentals cars, and any other costs related to travel.
Additional fees not required: The annual fee is $0 and there are no foreign transaction fees. For purchases, the card will offer 0% intro APR. This is valid for 15 billing cycles. The variable APR for purchases or balance transfers is between 13.99% and 23.99%.
Students get a free credit score with the Bank of America Travel Rewards credit card for students. Students can access their FICO credit scores monthly for no cost to build credit.
Card Summary - Cons
There are no bonus spending categories.
There are no premium benefits for travel: The Bank of America Student Travel Rewards Credit Card does not offer comprehensive travel benefits.
It does not charge a foreign transaction fee but the card doesn't offer travel insurance or waivers for auto damage.
Rates and fees
Highlights
You don't need to worry about restrictions on airline reward cards. Any airline can issue any airline or hotel rewards card. No blackout dates.
Earn points that can be used to purchase flights, hotel rooms, vacation packages or baggage fees. Unlimited 1.5 Points for each $1 spent on any purchase, anywhere and at all times. No expiration.
You will always be aware of when you have to pay your bill. To stay in control of your account, you can use Mobile Banking or text alerts.
You will receive 25,000 bonus online points when you spend at least $1,000 within the first 90 day of opening your account.
These points can be used to redeem for $250 credit towards travel.
If we detect suspicious patterns, fraud is blocked. We will also notify you if fraudulent activity is suspected. You also get a zero liability guarantee for fraud transactions.
Comparative Analysis with Other Cards
How much does the Bank of America Student Travel Rewards Credit Card cost?
Annual fee: Students don't have to pay an annual fee for the Bank of America Travel Rewards credit card. There is no foreign transaction fee. A wire transfer is purchased from a financial institution. The fee for this service is $10 per transaction or 5%.
Balance transfer fee: Students who have the Bank of America Travel Rewards credit card for students pay a $10 balance transfer fee or 3% of every transaction.
Fee for cash advance: Direct deposit or check cash advances fees are $10 per transaction. ATM cash advance fees: ATM cash advances, online cash equivalents, and same-day cash advances are either $10 or $5.
Late payment fees: Students may be charged a late payment fee of up to $40 by the Bank of America Travel Rewards credit card.
How much does the Bank of America travel rewards credit card for students cost?
For the 15 first billing cycles, the Bank of America Travel Rewards credit card for students has an $0 introductory interest rate on all purchases. It has an APR variable of 13.99% to 23.99% on balance transfers and purchases. This is based upon credit worthiness.
Bank of America Student Travel Rewards Credit Card vs. Chase Sapphire Preferred Card
Annual fee: While the Chase Sapphire Preferred card offers greater rewards potential, the Bank of America Rewards Credit Card For Students is more affordable. The Chase Sapphire Preferred card has a $95 annual fee, but the Bank of America travel rewards credit card for students charges $0.
Reward: Earn 1.5 points per $1 on every purchase made with the Bank of America Student Travel Rewards Credit card. Chase Sapphire Preferred Card gives you five points for every dollar that you spend on Chase Ultimate Rewards travel, three points per $1 on eating out, and three points per $2 on grocery online purchases. You can also earn three points per Dollar on certain streaming services.
There are two points per $ on any other travel, and one point per $0. All other purchases will be eligible. The Chase Sapphire Preferred card can give you more rewards. You get 25% extra value when you use your points to redeem for Chase Ultimate Rewards travel.
Sign up bonus: If you spend $1,000 within the first 90 day of opening your account, Bank of America Travel Rewards credit card for students will give you 25,000 bonus online points. Chase Sapphire Preferred Card offers 60,000 bonus points for purchases of $4,000 within the first three months after account opening.
Benefits: Bank of America Travel Reward Credit Card for Students: Zero fraud liability, monthly FICO credit score access and no annual fees Chase Sapphire Preferred Card provides travel benefits such as trip cancellation insurance, and waivers for auto rental collision damage.
Bank of America Travel Rewards credit card for students vs. Discover It's Student Chrome
Annual fees: There is no annual fee for either card.
Reward: Students can earn 1.5 points for every dollar they spend on purchases with the Bank of America Travel Rewards credit card. The Discover It Student Chrome earns 2% cashback on purchases of up to $1,000 at restaurants and gas stations each quarter. After that, unlimited 1% cashback.
Sign-up bonus: Bank of America Travel Rewards Card for Students cardholders will receive a sign-up bonus of 25,000 bonus points online after they spend $1,000 in the first 90 days. You can redeem this for $250 in statement credits towards travel or dining. The Discover It Student Chrome card earns cash back for the first year of account opening.
Benefits: The cards come with free FICO score access. Bank of America Travel Rewards Credit Card For Students includes $0 fraud liability and Discover It Student Chrome includes fraud monitoring.
Conclusion
Note: Credit Card summary is for informational purposes only and is not an endorsement of the product. Products and services described are offered by third parties and not Bright Money or its partner banks. Bright Money strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider, or specific product’s site and the information has not been reviewed or provided by the issuer of the product before publication.
