Bank of America Introduces Three New Travel Credit Cards
The competition for the travel credit card market is heating up, as Bank of America today announced three new offerings. The new BankAmericard Travel Rewards, BankAmericard Privileges with Travel Rewards and WorldPoints Travel Rewards for Business all feature no foreign transaction fees, no expiration on points and flexible redemption on any airline, hotel or other travel provider.
Here’s a quick comparison of the three new cards:
| BankAmericard Travel Rewards | BankAmericard Privileges with Travel Rewards | WorldPoints Travel Rewards for Business | |
|---|---|---|---|
| Type | Personal | Personal | Business |
| Sign Up Bonus | 10,000 bonus points after making at least $500 in purchases within 90 days | 10,000 bonus points after making at least $500 in purchases within 90 days | 5,000 bonus points after first purchase made within 90 days |
| Annual Fee | None | $75 (Waived first year)* | None |
| Points Earning | Earn 1.5 points per $1 spent on every purchase | Earn 2 points per $1 spent on every purchase | Earn 1 WorldPoints reward point per $1 spent |
| Intro APR Offer | 0% on purchases for 12 months | None | 0% on purchases for 9 months |
*Annual fee will also be waived if: (1) you have a combined balance of $50,000 or more of average daily balances for the month, or month-end balances in deposit accounts and/or eligible investment balances (excluding 401(k) or other employer sponsored plans, and 529 plans) with Bank of America or its affiliates; or, (2) you are a U.S. Trust® client
In addition, BankAmericard Travel Reward and BankAmericard Privileges with Travel Rewards customers who have another eligible account with Bank of America will automatically receive a 10% point bonus each year on their total purchases. An eligible account includes a checking, savings or retirement account with Bank of America, a Cash Management Account, Merrill Edge or any other account with Merrill Lynch, Pierce, Fenner & Smith or U.S. Trust.
Points can be redeemed for the usual assortment of merchandise, gift cards and charitable contributions. Your points can also be used to reimburse yourself for previously purchased travel. 100 points is equivalent to $1 in travel credit, and points must be redeemed in 2,500 point increments. You can apply your credit towards any travel-related expense, including airfare, hotels, car rentals, baggage fees, cruises, amusement parks and more. You also have the option of covering all or just part of your trip. If you don’t have enough points to cover an entire purchase, you can choose to use points to pay for just part of it. After redeeming your points, you’ll receive a credit on your next statement.
For more info or to apply, see the following links:
the original platinum priveleges visa card, which replaced the Schwab card, no longer appears on the web site as an option even though they are still in circulation with a different rewards program. does this suggest that, like the Schwab card, the original deal is being tossed and replaced with the (only) options described in your post?
Hi j,
It does appear that BofA is phasing out the original Privileges card reward program and are offering in its place either the BankAmericard Privileges credit card with Cash Rewards (the “3-2-1 card”) or the Privileges with Travel Rewards card.
It’s only speculation on my part, but I would expect existing Privileges cardmembers to be grandfathered into their program. To me, however, it seems like the new Privileges with Travel Rewards card should be more attractive to the majority of customers, since it offers a base of 2x points per dollar spent, vs 1.5x points per dollar spent on the older card.
if their definition of ‘grandfather’ is similar to the way they handled Schwab cardholders, that would suggest the clock on the existing program is ticking and the days are numbered. it includes quarterly bonus categories like so many of the competitors – hard to believe they would keep these going for a dwindling base. that said, this program never quite got off the ground to begin with – it’s hard to find anyone at the bank who understands it as is(call up and you’ll see) – and with three mutations now being marketed, and the Schwab track record as precedent, one has to wonder…