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When it comes to credit card rewards, Bank of America has two popular options: the Travel Rewards card and the Unlimited Cash Rewards card. Both offer valuable benefits, but which one is right for you? In this article, we’ll compare the two cards and help you decide which one is the best fit for your needs.
Bank of America Travel Rewards
The Bank of America Travel Rewards card is designed for frequent travelers who want to earn rewards on their purchases. Here’s how it works:
| Annual Fee | $0 |
|---|---|
| Sign-up Bonus | 25,000 bonus points (worth $250) when you spend $1,000 within the first 90 days |
| Rewards | 1.5 points per dollar spent on all purchases |
| Redemption Options | Points can be redeemed for travel purchases, including flights, hotels, rental cars, and more. Points can also be redeemed for cash back or gift cards. |
The Travel Rewards card is a great option for those who frequently travel and want to earn rewards for their purchases. With no annual fee and a generous sign-up bonus, it’s a solid choice for those who want to earn rewards while on the go.
Unlimited Cash Rewards
The Bank of America Unlimited Cash Rewards card is designed for those who want to earn cash back on their purchases. Here’s how it works:
| Annual Fee | $0 |
|---|---|
| Sign-up Bonus | $200 cash back when you spend $1,000 within the first 90 days |
| Rewards | 1.5% cash back on all purchases |
| Redemption Options | Cash back can be redeemed as a statement credit, deposit into a Bank of America checking or savings account, or a check sent in the mail. |
The Unlimited Cash Rewards card is a great option for those who prefer cash back over travel rewards. With no annual fee and a generous sign-up bonus, it’s a solid choice for those who want to earn cash back on their everyday purchases.
Which One Should You Choose?
So, which card is the best fit for your needs? Ultimately, it depends on your spending habits and preferences. If you frequently travel and want to earn rewards on your purchases, the Travel Rewards card is the way to go. If you prefer cash back and want to earn rewards on your everyday purchases, the Unlimited Cash Rewards card is a better option.
Keep in mind that both cards have no annual fee and generous sign-up bonuses, so you can’t go wrong either way. Consider your spending habits and choose the card that will give you the most value for your purchases.
FAQ
Q: Can I use the Travel Rewards card for non-travel purchases?
A: Yes, you can use the Travel Rewards card for all purchases. However, you will earn the most rewards when you use it for travel purchases.
Q: Is there a limit to how much cash back I can earn with the Unlimited Cash Rewards card?
A: No, there is no limit to how much cash back you can earn with the Unlimited Cash Rewards card.
Q: Can I redeem my Travel Rewards points for cash back?
A: Yes, you can redeem your Travel Rewards points for cash back, as well as travel purchases and gift cards.
Q: How do I redeem my cash back with the Unlimited Cash Rewards card?
A: You can redeem your cash back as a statement credit, deposit into a Bank of America checking or savings account, or a check sent in the mail.