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Designed specifically for students, the Bank of America® Travel Rewards for Students card combines the best of both worlds: travel cards and student cards. It’s a great credit card option for international and study abroad students looking to build their credit and maximize their rewards earnings.
With no annual fee, no foreign transaction fees, and an 18-month introductory 0% APR offer, there’s a lot to like about the Bank of America® Travel Rewards for Students card. However, its high regular purchase APR means this card is only for those responsible enough to pay it off on time.
Quick Review
The Bank of America® Travel Rewards for Students card offers a decent list of point-earning opportunities and introductory offers. Whether in the US or abroad, students can save with literally every purchase they make. Here’s what you can get:
- 3 points for every $1 spent through the Travel Center
- 1.5 points for every $1 spent on everything else
- 25,000 bonus points when you spent $1,000 in your first 90 days
- 0% APR for first 18 billing cycles
The unlimited points reward system is pretty good, especially considering that many credit cards cap their users’ earnings. However, in order to understand how much you can earn from the program, it’s important to break down that the Bank of America® Travel Rewards for Students card’s points have different values depending on how you redeem them.
When redeemed through the Travel Center, one point is equivalent to one cent, or 1% of your purchase. However, when redeemed as cash, a point is only worth 0.6 cents. This incentivizes users to exclusively redeem points through the Travel center. Otherwise, you risk not getting your money’s worth.
The Bank of America® Travel Rewards for Students card also comes with a 25,000 point welcome bonus, which is valued at $250 when redeemed for travel-related purchases. With a spending requirement of just $1,000 in the first 3 months, most students should be able to take advantage of the bonus offer.
The drawbacks of the credit card include its potentially high APR (the interest rate you get will depend on your creditworthiness) and how its point reward system may be somewhat misleading. Still, it’s among our top choices of credit cards for students.
Bank of America® Travel Rewards for Students Important Details
Basic Card Details
- Annual fee: $0
- Purchase APR: 16.99%–26.99% (variable)
- Initial credit limit: $500
- Rewards rate: 1.5%–3%
- Welcome bonus: 25,000 points
- Grace period: 25 days
Additional Information
- Optional overdraft protection with Balance Connect®
- Zero fraud liability
- Free FICO credit checks
- Access to Better Money Habits®
Bank of America® Travel Rewards for Students Feature Breakdown
Learn more about the Bank of America® Travel Rewards for Students card’s key features to help you determine if this is the right card for you.
Fees
- Annual fee: $0
- Balance transfer fee: $10 or 3% (whichever is greater)
- Cash advance fee: $10 or 3% (whichever is greater)
- Foreign transaction fee: None
- Late payment fee: Up to $40
Interest Rates
- Purchase APR: 16.99%–26.99% (variable)
- Introductory purchase APR: 0% for first 18 billing cycles
- Introductory balance transfer APR: 0% for first 18 billing cycles
- Balance transfer APR: 16.99%–26.99% (variable)
- Cash advance APR: 19.99%-29.99% (variable)
A billing cycle for a credit card is anywhere from 28 to 31 days, meaning the introductory purchase APR offer is for about 18 months. The introductory APR also applies to balance transfers made within the first 60 days of owning the card.
However, once both offers end, your interest rate may skyrocket. Therefore, it’s essential that you pay off any outstanding debts before the introductory period ends. Otherwise, this could end up being a very expensive card to own.
Rewards
The Bank of America® Travel Rewards for Students card offers multiple uncapped earning opportunities. Here’s how it works:
- 3 points back for every $1 spent through the Travel Center
- 1.5 points for every $1 spent on everything else
Both earning opportunities are unlimited, meaning you can spend and save as much as you want to. But don’t worry, the card doesn’t have an annual fee, so there’s no pressure to spend up to a certain amount to break even.
The Bank of America Travel Center is the most important platform to familiarize yourself with when trying to maximize earnings with the Bank of America® Travel Rewards for Students card. It has over 200,000 hotel and resort options, over 200 airlines to book with, and 24/7 phone support.
Rewards Redemption
You can redeem points earned with the Bank of America® Travel Rewards for Students card two ways: as a cash statement or through the Travel Center. This card is designed to incentivize use of the Travel Center as much as possible.
While one point redeemed through the Travel Center is worth one cent (or 1%), one point redeemed as cash is only worth 0.6 of a cent (or 0.6%). With a 40% cut on all points redeemed as a cash statement credit, there’s little reason to not exclusively use the Travel Center for purchasing and redeeming all Bank of America® Travel Rewards for Students card points.
If you aren’t going to be buying airline tickets or booking hotel rooms frequently, you may have a difficult time getting the most out of the Bank of America® Travel Rewards for Students card.
Welcome Bonus
The Bank of America® Travel Rewards for Students card comes with a welcome bonus of 25,000 points. This has a $250 value when redeemed as a credit statement through the Travel Center, but is only worth $150 if redeemed as cash.
You must spend at least $1,000 in your first 3 months to unlock the welcome bonus, which should be realistic –– even for students with relatively modest budgets.
Cash Advance
A cash advance is when you use your credit card to withdraw money from an ATM or to take out a money order. While cash advances can be helpful in emergencies, they are also notoriously expensive.
The Bank of America® Travel Rewards for Students card comes with a cash advance fee minimum of $10 and a cash advance APR of 19.99%–29.99%, which are both incredibly high. If you’re in need of cash, we recommend using your debit card instead.
Balance Transfers
A balance transfer involves moving debt from one credit card to another. While balance transfers can be a great tool when trying to consolidate debt or avoid hefty late payment fees, they usually also come with high interest rates and fees.
The Bank of America® Travel Rewards for Students card offers users an introductory 0% APR on all balance transfers made within your first 60 days. However, the normal balance transfer APR is 16.99%–26.99% (variable), so you should avoid making balance transfers using this card after your first 2 months.
Travel Benefits
For being a travel credit card, the Bank of America® Travel Rewards for Students card has a surprisingly limited selection of travel benefits. While you can earn and redeem significantly more points on travel purchases, the card doesn’t come with travel insurance, emergency card replacements, or any other benefit that would make traveling less stressful.
If having additional travel benefits is important for you, you want to look into alternative travel credit cards that better suit your needs.
Other Benefits
The Bank of America® Travel Rewards for Students card boasts a modest selection of other benefits. Here’s what you get:
- Free FICO credit score checks, updated monthly
- Optional overdraft protection with Balance Connect®
- Zero fraud liability
- Access to Better Money Habits®
These benefits can be helpful for students and novice credit card owners looking to learn more about how to manage their account, build their credit score, and protect their information. However, when it comes to actually saving and earning, the Bank of America® Travel Rewards for Students card’s other benefits have little to offer.
Authorized Users
Authorized users are permitted with the Bank of America® Travel Rewards for Students card and can be quickly added through the Bank of America online banking platform. However, as the primary account holder, you are legally responsible for any charges on the card, so add authorized users with caution.
Credit Reporting
Bank of America regularly reports to all three major credit bureaus. Therefore, you can use this card confidently knowing that your credit report will be regularly updated.
You also receive monthly FICO® Score credit checks, so you can track your credit-building progress.
Customer Service
If you want to speak to Bank of America directly regarding this card, here are the relevant contact numbers:
Credit card customer service
(800) 732-9194
Credit card activation
(800) 276-9939
Credit card billing inquiries
(866) 266-0212
General customer service
(800) 432-1000
Should You Get the Bank of America® Travel Rewards for Students?
FinanceJar verdict
We would recommend this card for students who find themselves frequently traveling. The $250 welcome bonus and 18-month 0% APR intro offer make this card very attractive, especially if you have some upcoming expenses. However, while the Bank of America® Travel Rewards for Students card’s point reward system makes earning points through travel and everyday purchases easy, you may not get your money’s worth if you don’t redeem your points through their Travel Center.
Who is this card for?
- Study abroad students: Given the no foreign transaction fees and travel-centered rewards program, this card is ideal for study abroad students looking to maximize savings while traveling.
- Students looking to save on plane tickets and hotels: Because the Travel Center offers a generous selection of airline, hotel, and resorts to choose from, the Bank of America® Travel Rewards for Students card is perfect for students always on the lookout for a good deal on travel purchases. In fact, you will have to prioritize using this card for travel-related purchases in order to maximize your earnings.
Comparable Cards
Here’s how the Bank of America® Travel Rewards for Students card compares to similar cards on the market.
