The
Bank of America® Travel Rewards credit card for Students is a good credit card for students with
excellent credit who like to travel. The
Bank of America Travel Rewards for Students has a
$0 annual fee and offers
1.5 points per $1 on purchases, plus an initial bonus of
25,000 points for spending $1,000 in the first 90 days. This particular travel rewards card for students also happens to have an elite 0% introductory APR promotion:
0% for 15 billing cycles.
The combination of generous rewards and a 0% intro APR is unusual for a student credit card, as is the
Bank of America Travel Rewards for Students’s credit score requirement. For good approval odds, you’ll need a 750+ credit score. Most other student credit cards are available to applicants with limited credit history.
Bank of America Travel Rewards for Students Review Highlights
25,000 points-point initial bonus
The
Bank of America Travel Rewards for Students offers
25,000 points for spending $1,000 in the first 90 days. Those bonus points can be used to cover $250 in travel purchases.
Since this card is currently competing for the business of people with excellent credit, it’s worth mentioning that the average initial bonus among new credit card offers right now is
31,964 points/miles or
$228 cash back. The
best signup bonuses are a lot bigger, too.
1.5 points per $1 spent
The
Bank of America Travel Rewards for Students rewards cardholders with
1.5 points per $1 spent on every purchase, with no limit to the amount you can earn. That works out to 1.5% back when you redeem for any travel or dining expense charged to your account.
The average rewards card gives
1.22 points/miles per $1 spent or
1.15% cash back on purchases. People with excellent credit can get 2%+ back on every purchase from some cards.
$0 annual fee
This saves you
$22.29 per year compared to the average credit card offer.
Intro APR of 0% for 15 billing cycles
New cardholders can temporarily avoid interest charges with the
Bank of America Travel Rewards for Students’s offer of
0% for 15 billing cycles on new purchases and
0% for 15 billing cycles for any balance transfers made in the first 60 days. Such a generous offer is extraordinary for a student credit card, but requiring excellent credit makes it less appealing.
The
best 0% APR credit cards offer interest-free periods lasting at least as long, and they’re generally available to people with good credit or better.
Balance transfer fee & high regular APR
Avoid carrying a balance from month to month when the regular APR is in effect, as it could be anywhere from
18.24% to 28.24% Variable depending on your overall creditworthiness. Subjecting a balance to such a rate would quickly get very expensive.
You should also take into account the card’s transfer fee of
3% for 60 days from account opening, then 4% if you’re considering a balance transfer.
WalletHub’s balance transfer calculator makes this easy.
Excellent credit needed
The
Bank of America Travel Rewards for Students currently requires excellent credit, which means you need a credit score of 750 or higher to have good odds of being approved. You can
check your credit score for free on WalletHub.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.