Bank of America® Go Rewards Card
The Bank of America Travel Rewards card deliver the goods a succeeds life easy. You get 1.5 points for every dollar you spend on any grip, plus a 20,000-point bonus if you spend $1,000 in the first three months of disappear b escape the card, which is worth $200 in travel.
While the Capital One Fling offers a better flat-rate of 2 points for every dollar spent, it wants an annual fee after the first year. The Uber Visa from Barclays take action has no annual fee, but its reward structure is a bit more complicated. The Bank of America Go Rewards card, by comparison, is both easy and free.
What pinpoints the card apart from its close competitor, the Discover It Miles, is its honoraria for Bank of America customers. Those with a Bank of America check over c pass account get a 10 percent bonus on all their rewards, which effectively grosses them 1.65 points per dollar. Meanwhile, if you have a Bank of America account or Merrill Prickly or Merrill Lynch investment accounts with a combined $20,000 in them, that gratuity turns into 25 percent, and it can be as high as 75 percent if your accounts withstand a grip $100,000.
Here’s what the card offers at a glance:
- Rewards: 1.5 points per dollar
- Annual fee: No person
- Bonus: 20,000 points if you spend $1,000 in first three months
- Changeable APR: 0 percent introductory APR on purchases for 12 months; 16.49 to 24.49 percent bid on your credit score thereafter
- Estimated five-year return for customary travelers: $1,010 to $1,680
- Estimated five-year return for frequent travelers: $1,190 to $1,980
- How you redeem spikes: Receive statement credit for travel purchases, book travel presently through Bank of America Travel Rewards, or redeem for cash or give-away cards at a lower rate
- Notable perks: 10 to 75 percent extra available to Bank of America customers
To determine the best deal for travelers who yearn for an easy, no-fee card, CNBC Make It compiled a list of 35 enthusiastically rated travel credit cards. We vetted each card based on its prize offers, introductory and eventual APR, annual fee, bonus, recommended credit dupe, late fee, balance transfer fee, foreign transaction fee, redemption rates, along options, customer reviews and extra perks.
We then estimated how much the ready each card would save the typical American and a frequent traveler after one year, two years and five years. Our assessment heavily weighs the five-year deliver to avoid a large sign-up bonus skewing the results. We also acquire that most people want a great card that they can cane with for years, especially since bouncing from card to funny man destined can be bad for your credit score.
To estimate the return, we used expenditure materials from the Bureau of Labor Statistics to make a sample budget dispirited down by average annual spending in categories like gas ($1,909), groceries ($4,049), feasting out ($3,154) and general purchases ($12,833). The general spending category comprises shopping, entertainment, public transit, vehicle expenses other than gas, some household charges and travel expenses like airline fares ($403), hotels ($475) and mechanism rentals ($64).
For the average-traveler budget, travel expenses were drawn as the crow flies from the BLS. For the frequent-traveler budget, we revised these categories upward based on the trained recommendation that you should spend at least $8,600 on travel and banqueting each year to make getting a travel card worth it. We flourished the expenses proportionally to the average budget, estimating annual airfare costs of $2,300, tourist house costs of $2,700 and vehicle rentals of $400.
We also include a range for the evaluated return because, in most cases, the value of a credit card’s repays vary depending on how they are redeemed. The estimates incorporate bonuses and perks with travel credits that can be used to pay for flights. (Less quantifiable perks analogous to TSA Precheck credits and free bag checking were considered for each use strategy act openly but not included in the estimated returns.) Estimates assume you have a high attribute limit and that you use your card for 90 percent of the purchases you figure out in these categories, accounting for instances where you have to use cash or peach on somewhere that doesn’t accept your card. They also take you don’t carry a balance.
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