For most, the Bank of America® Unlimited Cash Rewards credit card is likely better than the Bank of America® Travel Rewards credit card for its introductory APR offers and for earning cash back. Show
But the Travel Rewards card is better for earning travel rewards, avoiding foreign transaction fees, and using points for travel redemptions. Let’s dig into the details of this Bank of America Unlimited Cash Rewards vs. Travel Rewards review so you can see which credit card might be the best fit. Bank of America Unlimited Cash Rewards vs. Travel RewardsBoth the Bank of America Unlimited Cash Rewards and Bank of America Travel Rewards are issued by Bank of America and use the Visa payment network. But the Unlimited Cash Rewards focuses on earning cash back and providing an intro APR offer on qualified balance transfers. On the other hand, the Travel Rewards card focuses on earning points that can be redeemed for statement credits toward travel and dining purchases. Check out this table to quickly compare the main perks and benefits of both cards, including their sign-up bonuses, redemption methods, and intro APR offers.
What both cards excel atThe Bank of America Unlimited Cash Rewards and Bank of America Travel Rewards share these similarities:
4 important differences between Bank of America Unlimited Cash Rewards and Travel RewardsCompare these four important differences between the Bank of America Unlimited Cash Rewards and Travel Rewards to see which card might make the most sense for you: 1. Type of rewardsThe Bank of America Unlimited Cash Rewards is a cashback credit card while the Bank of America Travel Rewards earns points. There’s not much of a difference between what this means except the available redemption options (more details on this below). Overall, you typically want a card that earns cash back rewards if you prefer cash-related redemption options. But a card that earns points or miles would typically have travel-related redemption options. If you prefer earning cash back, check out our Bank of America Unlimited Cash Rewards review for more details. Winner: Tie. It depends on whether you prefer earning cash back or travel rewards. 2. Redemption optionsAt first glance, it seems like the redemption options on the Bank of America Unlimited Cash Rewards and Travel Rewards are cut and dry — the Unlimited Cash Rewards offers cash-related redemptions while the Travel Rewards offers travel-related redemptions. But digging deeper into the terms and conditions for each credit card, you see that the redemption options are fairly similar with a few, small differences.
Most notably, the Bank of America Travel Rewards has many of the same redemption options as the Unlimited Cash Rewards, even though one card is focused on travel rewards while the other is focused on cash back. There are also a few extra options on the Travel Rewards such as gift cards and mailed checks — though, these generally aren’t as useful as bank deposits or statement credits. Keep in mind a few distinctions with the Bank of America Unlimited Cash Rewards. “Statement credits” aren’t limited to travel and dining purchases like they are on the Travel Rewards. Also, “credits into eligible Merrill® accounts” includes eligible cash management and 529 Merrill accounts, while the Travel Rewards redemption only includes the cash management option. There’s no clear winner between the two credit cards based on their redemption options because it’s highly dependent on your preferences. At the end of the day, either cards’ rewards could be used for bank deposits, which is essentially straight cash that could be used for anything. Winner: Tie. It depends on your redemption preferences. 3. Foreign transaction feesThe best travel credit cards don’t typically have foreign transaction fees because frequent travelers don’t want to deal with this additional expense. Since the Bank of America Unlimited Cash Rewards isn’t marketed as a “travel card,” it comes with a 3% foreign transaction fee. On the other hand, the Bank of America Travel Rewards doesn’t carry foreign transaction fees — making it the clear winner in this category. Read our Bank of America Travel Rewards review to learn more. Winner: Bank of America Travel Rewards because it doesn’t have foreign transaction fees. 4. Visa Signature benefitsBoth the Bank of America Unlimited Cash Rewards and Travel Rewards are Visa Signature credit cards. This means they have additional benefits for cardholders. But which Visa Signature benefits a card receives depends on the credit card issuer. The Bank of America Unlimited Cash Rewards offers these Visa Signature benefits:
The Bank of America Travel Rewards offers these Visa Signature benefits:
The Bank of America Travel Rewards is this winner here because it offers the same benefits as the Unlimited Cash Rewards plus more travel-focused benefits. Winner: Bank of America Travel Rewards because it offers more Visa Signature benefits. Which card should you choose?Neither of these credit cards is outright better than the other as it depends on your preferences. But consider these scenarios to help you decide which card makes the most sense for you. You should choose the Bank of America Unlimited Cash Rewards if:
You should choose the Bank of America Travel Rewards if:
Either credit card could provide you with valuable rewards on your everyday spending. For more top credit card offers, check out our list of the best rewards credit cards. FAQsYes, the Bank of America Unlimited Cash Rewards card is worth it as a credit card that offers unlimited 1.5% cash back on all purchases and $0 annual fee. It also provides intro APR offers on purchases and balance transfers and you could earn a $200 online cash rewards bonus after spending $1,000 in the first 90 days of account opening. The Bank of America® Customized Cash Rewards credit card
is likely better than the Bank of America Unlimited Cash Rewards because it offers higher cashback rates in spending categories such as gas, dining, grocery stores, wholesale clubs, and online shopping. But the Unlimited Cash Rewards could make sense if you want a simple rewards rate and fewer cards to carry. What is the maximum you can redeem for with Unlimited Cash Rewards?There is no maximum you can redeem for with the Unlimited Cash Rewards. The Bank of America Unlimited Cash Rewards has no limit on cash back you can earn and no maximum redemption amount. These redemptions require a minimum redemption amount of $25:
Bottom lineThere’s not much difference between the Bank of America Unlimited Cash Rewards and Bank of America Travel Rewards. But the Unlimited Cash Rewards is the better option if you want to earn cash back. The Travel Rewards card is the better option if you prefer travel rewards and want to avoid foreign transaction fees. If these cards don’t make sense for you, use our dedicated page to compare credit cards and find the right card for your wallet. Author Details
Ben Walker, CEPF Ben Walker, CEPF, is a credit cards and travel writer at FinanceBuzz who loves helping others achieve their travel goals through financially sound decisions. For over a decade, he has been using credit card points and miles for the sole purpose of traveling the world. Ben is a Certified Educator of Personal Finance and has been featured in The Washington Post, MSN, Debt.com, and Finder.com. Does Bank of America Cash Rewards Visa have foreign transaction fees?The Bank of America Customized Cash Rewards credit card foreign transaction fee is 3%. The card's foreign transaction fee can apply whether you travel to another country or you go shopping internationally through your computer.
Does Bank of America have a foreign transaction fee?Bank of America will assess an international transaction fee of 3% of the converted US dollar amount. Foreign ATM operators may offer to do your currency conversion for you, but they may charge a higher fee for conversion.
How do I know if my credit card has foreign transaction fees?Every credit card will have varying terms that dictate how much a foreign transaction fee will cost the cardholder, so it's important to review your credit card's terms and conditions to know exactly how much you'll be paying. You can usually find this information in the “Pricing and Terms” or “Rates and Fees” section.
Does Bank of America visa debit card have foreign transaction fees?A Bank of America International Transaction Fee of 3% will apply when converting your currency. 9 • If you have any issues with your cards while traveling, please call the number on the back of your card.
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