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Bank of america ® unlimited cash rewards credit card vs. bank of america ® travel rewards credit card: what’s the difference.

Ben Walker, CEPF, CFEI®

This article was subjected to a comprehensive fact-checking process. Our professional fact-checkers verify article information against primary sources, reputable publishers, and experts in the field.

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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.

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 Rewards

What both cards excel at, 4 important differences between bank of america unlimited cash rewards and travel rewards, which card should you choose, bottom line.

Both 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.

The Bank of America Unlimited Cash Rewards and Bank of America Travel Rewards share these similarities:

  • Annual fees: The Bank of America Unlimited Cash Rewards has a $0 annual fee while the Bank of America Travel Rewards also has a $0 annual fee.
  • Welcome offers: Both the Bank of America Unlimited Cash Rewards and Travel Rewards provide valuable bonus offers. These could be helpful to new cardholders for earning a large amount of rewards soon after account opening.
  • Rewards rates: The Bank of America Unlimited Cash Rewards offers unlimited 1.5% cash back on all purchases while the Travel Rewards card offers 1.5 points per $1 spent on all purchases. It’s basically the same flat rate and no bonus categories, with the only difference being the type of rewards you earn.
  • Intro APR offers: Both credit cards provide intro APR offers on purchases and balance transfers. The Unlimited Cash Rewards offers 0% intro APR for 15 billing cycles on purchases and qualifying balance transfers, then 19.24% - 29.24% Variable APR. The Travel Rewards offers 0% intro APR for 15 billing cycles on purchases and qualifying balance transfers, then 19.24% - 29.24% Variable APR.
  • Bank of America Preferred Rewards®: Many Bank of America credit cards offer access to the Bank of America Preferred Rewards® program. You have to meet certain requirements to become a Bank of America Preferred Rewards® member — such as having an active and eligible Bank of America checking account and having $20,000 or more in eligible accounts over a three-month period — but you could earn up to a 75% rewards bonus on your credit card purchases if you reach the Platinum Honors tier.
  • Payment networks: Both cards use the Visa payment network, which is accepted in over 200 countries and territories worldwide.
  • Additional card benefits: You’ll find certain benefits on both cards, including extended warranty protection, roadside dispatch, travel and emergency assistance services, and access to 24/7 Visa Signature concierge services.

Compare 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 rewards

The 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 options

At 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 fees

The 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 benefits

Both 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:

  • Extended warranty protection
  • Roadside dispatch
  • Travel and emergency assistance services
  • Visa Signature concierge

The Bank of America Travel Rewards offers these Visa Signature benefits:

  • Secondary rental car insurance
  • Lost luggage reimbursement

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.

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 prefer earning cash back over travel rewards.
  • You want specific redemption options such as general statement credits or credits into eligible Merrill accounts (including qualifying 529 accounts with Merrill).

You should choose the Bank of America Travel Rewards if:

  • You prefer earning travel rewards over cash back.
  • You want specific redemption options such as statement credits toward flights, hotel stays, vacation rentals, baggage fees, and restaurant purchases.
  • You want to avoid foreign transaction fees.
  • You want more travel-related Visa Signature benefits.

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 .

Is the Bank of America Unlimited Cash Rewards card worth it?

Yes, 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 qualifying balance transfers and you could earn a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

Is the Unlimited or Customized Cash Rewards card better?

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:

  • Credits to a qualifying 529 account with Merrill

There’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.

Unlimited 1.5% Cash Back on All Purchases

Bank of america ® unlimited cash rewards credit card.

Bank of America® Unlimited Cash Rewards credit card

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

  • Earn a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
  • Unlimited 1.5% cash back on all purchases
  • Long intro APR on purchases and qualifying balance transfers
  • No annual fee
  • Has foreign transaction fee
  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
  • Earn unlimited 1.5% cash back on all purchases.
  • If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more cash back on every purchase. That means you could earn 1.87%-2.62% cash back on every purchase with Preferred Rewards.
  • No annual fee.
  • No limit to the amount of cash back you can earn and cash rewards don’t expire as long as your account remains open.
  • 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 19.24% - 29.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
  • Contactless Cards - The security of a chip card, with the convenience of a tap.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

Author Details

Ben Walker, CEPF, CFEI®

Advertiser Disclosure

Bank of America Travel Rewards credit card vs. Bank of America Customized Cash Rewards card

Which credit card is best for you?

Published: January 26, 2022

Griffin Miller

Author: Griffin Miller

Kaitlyn Tang

Editor: Kaitlyn Tang

Claire Dickey

Reviewer: Claire Dickey

How we Choose

The Bank of America Travel Rewards and Bank of America Cash Rewards cards are two extremely rewarding no-annual-fee cards – find out which is best for you.

The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Please review our list of best credit cards , or use our CardMatch™ tool to find cards matched to your needs.

The Bank of America content was last updated on Jan. 24, 2022.

Bank of America takes customer loyalty to the next level with two credit cards that reward you for your spending habits and sprinkle in unique benefits you don’t often see elsewhere. Both the Bank of America® Travel Rewards credit card and Bank of America® Customized Cash Rewards credit card come with better rewards rates than you might expect from no-annual-fee cards.

Although both cards can be valuable for a variety of lifestyles, they’re particularly beneficial to those who also have Bank of America checking or savings accounts. Bank of America Preferred Rewards clients (those who meet certain account balance requirements) can get a rewards boost of up to 75% with either card.

Let’s examine which rewards credit better suits your spending habits.

Bank of America Travel Rewards vs. Cash Rewards

Earning rewards.

The Travel Rewards card earns 3 points on travel purchases booked through the Bank of America Travel Center (like flights, hotels and rental cars) and a flat 1.5 points per dollar on every purchase.

The Customized Cash Rewards card earns 3% cash back in the category of your choice (gas, online shopping, dining, travel, drugstores, home improvement/furnishings), 2% cash back at grocery stores and wholesale club purchases and 1% cash back on other purchases. However, keep in mind that your rewards in the 3% and 2% categories are capped at $2,500 in combined spending each quarter, then they drop to 1%.

Cash back or points : that is the question. Really, it comes down to whether you’d prefer to earn points you can convert to statement credits or use toward travel, or if you’d rather earn straightforward cash.

Sign-up bonus

The Bank of America Travel Rewards offers a sign-up bonus of 25,000 points if you spend $1,000 in the first 90 days. Bank of America Travel points are valued at 1 cent per point, so 25,000 points would equal $250. Not a bad sign-up bonus, considering this card charges no annual fee .

For a starter cash back card, the Bank of America Customized Cash is fairly generous with a welcome bonus of $200 if you spend $1,000 in the first 90 days. It’s not the best among other cash back credit cards , but it’s not the worst. Plus, for many cardholders, it’s easy enough to spend $1,000 in 90 days.

Redeeming rewards

You can redeem your points through the Bank of America Travel Center, as cash rewards (at 0.6 cents per point) and as gift cards (variable point value). You can even retroactively redeem your points on travel, booked through a third-party site, or dining purchases you’ve made in the past 12 months.

The Bank of America Customized Cash Rewards card also offers variable redemption options. Unlike some cash back cards that only allow you to redeem your rewards for a statement credit , Bank of America allows you to deposit your cash back into another account, redeem for credit or opt for a check in the mail.

Bank of America Preferred Rewards Program

Both of these Bank of America cards can potentially earn much more rewards if you qualify for the Bank of America Preferred Rewards Program. Essentially, if you have a sizable deposit in a Bank of America checking or savings account or a Merrill investment account, you stand to increase your rewards rate by 25%, 50% or 75% depending on the tier you qualify for.

For the Bank of America Travel Rewards card, if you qualify for the lowest tier, Gold, your points per $1 increases to 1.875. For the Bank of America Customized Cash, you’ll earn 1.875% if you qualify for Gold.

Bank of America Travel Rewards: Best for travel credit card rookies

The Bank of America Travel Rewards charges no annual fee, earns a flat rate of points on all purchases and allows you to spend points on travel through its travel portal . What else could you ask for in a starter travel credit card?

The card defines “travel” broadly, meaning you can redeem your points on flights, hotels, vacation packages and more. Since you aren’t limited by any number of travel partners , your rewards hold the same value no matter what airline you fly on or hotel you stay at.

We recommend you use this card for most of your travel expenses (or even all) to quickly earn points since the 1.5X points is comparatively lower than other travel cards. Another incentive to using the Travel Rewards card as your primary travel card is the fact that you’ll earn 3 points per dollar when you book through the Bank of America Travel Center. And of course, be sure to earn the 25,000 bonus points to maximize the card’s worth.

Bank of America Customized Cash: Best for everyday spending

Sometimes it’s difficult to predict which category you spend more in, but the Bank of America Customized Cash Rewards card offers the flexibility to maximize your future spending with up to six swappable 3% cash back categories . It also has the major advantage of allowing you to switch categories once per month.

The card is most attractive to cardholders who want to earn bonus cash back in online shopping or gas. The 2% cash back at grocery stores and wholesale clubs is nothing to scoff at either, making it ideal for families who spend a lot on gas and food items. However, remember that the rewards in the 3% and 2% categories are capped at $2,500 per quarter (then you earn 1%).

Bottom line

When it comes down to it, the Bank of America Cash Back card is the better card for all seasons. It carries eight bonus categories that earn either 3% or 2% on key everyday expenses, and you can change six of them monthly. You can use it as your main card for all your purchases, or only on gas or grocery purchases, and it’ll still give you great value.

The Bank of America Travel Rewards card is better suited as your introductory travel card in addition to your other primary cards. We recommend it for those who occasionally travel, but not serious globe trotters.

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

Griffin Miller is a former CreditCards.com personal finance contributor.

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Bank of America Travel Rewards Review: Easy Rewards for Easy Travel

Melissa Lambarena Author Avatar

What’s on This Page

The bottom line, pros and cons, detailed review, compare to other cards, benefits and perks, drawbacks and considerations, how to decide if it's right for you.

This solid no-fee travel credit card is especially rewarding for Bank of America® banking customers.

Bank of America® Travel Rewards credit card Image

Rewards rate

Bonus offer

  • 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.

0% intro APR on Purchases for 15 billing cycles and 0% intro APR on Balance Transfers for 15 billing cycles for any balance transfers made in the first 60 days

Ongoing APR

APR: 19.24%-29.24% Variable APR

Cash Advance APR: See Terms

Penalty APR: 29.99%, Variable

Balance transfer fee

3% for 60 days from account opening, then 4%

Foreign transaction fee

  • Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.
  • Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
  • Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
  • 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 19.24% - 29.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
  • If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
  • Contactless Cards - The security of a chip card, with the convenience of a tap.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

No annual fee

New cardholder bonus offer

No foreign transaction fees

Flexible rewards redemption

Intro APR period

Requires good/excellent credit

No bonus categories

Best rewards limited to certain customers

The Bank of America® Travel Rewards credit card is an excellent option for frequent travelers who want flexible rewards but just can't bring themselves to pay an annual fee for a credit card.

Cardholders earn an unlimited 1.5 points per dollar spent on all purchases. Rewards never expire as long as the account is open, but some of the redemption options have a time limit attached (more on that later). Points can be redeemed for credit against any travel or restaurant purchase. With no foreign transaction fees and a $0 annual fee, this card definitely travels light.

Note that this card is different from the similarly named Bank of America® Travel Rewards credit card for Students . For more information about that version of the card, see our full review .

» MORE: NerdWallet’s best travel credit cards

Bank of America® Travel Rewards credit card : Basics

Card type: Travel .

Annual fee: $0 .

Sign-up bonus: 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.

Rewards: 1.5 points per dollar spent.

Points are worth 1 cent apiece when redeemed for travel or restaurant purchases and a little over half a cent apiece for cash. Points can also be redeemed for gift cards at varying point values. Minimum redemption: 2,500 points for travel or cash.

Interest rate: 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 19.24% - 29.24% will apply . (A 0% APR period is relatively rare on a travel card.)

Foreign transaction fees: None.

Bank of America® Travel Rewards credit card

Flexible rewards

The Bank of America® Travel Rewards credit card isn't tied to any particular airline or hotel chain. Book travel any way you want, with no restrictions and no blackout dates, and then use points to wipe out the cost on your statement. Bank of America® also has one of the broadest definitions of "travel" of any major issuers. You can use points to get credit for airfare, hotel stays, cruises and car rentals, of course — but also for things like campgrounds, art galleries, amusement parks, carnivals, circuses, aquariums and zoos. Add to that, points are good for credit on restaurant purchases, too.

Points don't expire, but the travel and dining purchases you can redeem them for have a time limit. You can redeem points for a statement credit toward travel or dining purchases made within 12 months prior to the date of redemption. And, these redemptions are limited to the most recent 2,500 qualifying travel and dining purchases.

Travel-friendly features

As part of the Visa network, the Bank of America® Travel Rewards credit card travels well internationally. Visa is widely accepted worldwide, meaning you're less likely to run into trouble using it abroad. You also don’t have to worry about paying foreign transaction fees, which typically cost 1% to 3% of every transaction.

» MORE: Benefits of the Bank of America® Travel Rewards card

Bank of America Preferred Rewards® boosts earnings

The Bank of America Preferred Rewards ® program allows certain Bank of America® credit card holders to earn bonus rewards. If you have enough money in combined balances in Merrill accounts, you can earn bonuses of 25% or more. There are three tiers to the program, determined by your combined balances in those bank and investment accounts:

Say you spent $10,000 on your card in a year. That would usually earn you 15,000 points, worth $150 at a penny a point. If you were a Gold member in Bank of America Preferred Rewards®, your bonus would push your earnings to 18,750 points ($187.50). If you were Platinum, 22,500 points ($225). For Platinum Honors, 26,250 ($262.50).

» MORE: Bank of America® credit cards mobile app review

N o elevated rewards on bonus categories

The Bank of America® Travel Rewards credit card is a great $0 -fee travel companion, but if your spending leans heavily towards travel and restaurants, a different card might better suit you.

The $0 -annual-fee Wells Fargo Autograph℠ Card earns an impressive 3 points per dollar spent on:

Restaurants.

Gas stations and electric vehicle charging stations.

Streaming services.

Select phone plans.

Other purchases earn 1 point per dollar.

Depending on where you spend your money, the Wells Fargo Autograph℠ Card has the potential to earn significantly more than the Bank of America® Travel Rewards credit card (assuming, of course, you don't qualify for a high tier with Bank of America Preferred Rewards®).

Like the Bank of America® Travel Rewards credit card , points earned on the Wells Fargo Autograph℠ Card can be redeemed for travel or a statement credit. But you can also transfer any rewards you earn to one of Wells Fargo's transfer partners, which can help you earn outsize value.

Air France-KLM (1:1 ratio).

Avianca (1:1 ratio).

British Airways (1:1 ratio).

Aer Lingus (1:1 ratio).

Iberia (1:1 ratio).

Choice Privileges Hotels (1:2 ratio).

You get a lower redemption value for cash

The Discover it® Miles has a lot in common with the Bank of America® Travel Rewards credit card : an unlimited 1.5 miles per dollar spent, a $0 annual fee and no foreign transaction fees. But a key difference is that the Discover it® Miles gives you the same value per point whether you redeem for travel or cash back. The Bank of America® Travel Rewards credit card has an edge over this card Visa's wider acceptance abroad, but the Discover it® Miles is worth considering if you want better cash-back value.

Premium perks can take your travel further

The PenFed Pathfinder Rewards American Express® Card offers premium perks without the premium cost. Cardholders get 3 points per $1 spent on travel purchases (4 points for those enrolled in the PenFed Honors Advantage program) and 1.5 points per $1 spent everywhere else. On top of rewards, the card offers a $100 annual air travel credit and up to $100 in the form of a statement credit for Global Entry and TSA PreCheck programs every five years.

This card comes with a $95 annual fee, but it's waived for PenFed Honors Advantage members. Even without qualifying for PenFed Honors Advantage, you can effectively cancel out the annual fee as long as you can take advantage of the full $100 air travel credit. You’ll need to be a credit union member to qualify for this card.

If you'd like to see how these cards compare with other potential travel card options, you can search NerdWallet's list of best rated credit cards .

The Bank of America® Travel Rewards credit card offers a solid travel rewards program for the fee-averse. If your deposits reside at Bank of America®, you can gain even more rewards.

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If you're willing to pay an annual fee ( $95 ), this card gives you 2 miles per dollar on most spending. It has a big sign-up bonus, and miles are redeemable for statement credit against any travel expense.

Looking For Something Else?

Methodology.

NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.

Frequently asked questions

The Bank of America® Travel Rewards credit card is a good choice for someone looking for simple rewards with a $0 annual fee. Cards with annual fees, however, typically offer more robust rewards and perks and may be a better fit for heavy travelers. With this card, you earn 1.5 points per $1 spent. (Bank of America Preferred Rewards ®customers earn 25%-75% more points.) Points can be redeemed for credit against any travel purchase.

Use your Bank of America® Travel Rewards credit card to book travel however you want, and then redeem points for credit on your statement against those travel purchases. You can use points to cover expenses like flights, hotels, vacation packages, cruises, rental cars, baggage fees and more.

Points are worth 1 cent each when redeemed for a travel statement credit.

Points don’t expire as long as your card account is open, but you will forfeit unused points if you close your account. While points don't expire, the travel and dining purchases you can redeem them for do have a time limit. You can redeem points for a statement credit toward travel or dining purchases made within 12 months prior to the date of redemption. And, redemptions are limited to the most recent 2,500 qualifying travel and dining purchases.

The more often you travel, especially if you travel internationally, the more value you can get out of a travel rewards credit card. However, if you don’t travel often, you may benefit from a cash-back card instead.

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Melissa Lambarena

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Bank of America Launches New Unlimited Cash Rewards Credit Card

July 19, 2021 at 9:00 AM Eastern

Unlimited 1.5% Cash Back on All Purchases Makes Earning Rewards Easy, Helps Optimize Spending, Preferred Rewards Members Could Earn up to 2.62% Cash Back

Bank of America today announced the launch of the Bank of America Unlimited Cash Rewards credit card, which allows clients to earn unlimited 1.5% cash back on all purchases. This new credit card is the latest among Bank of America’s suite of rewards cards, each designed to fit a variety of clients’ needs.

“We heard from our clients that they want earning rewards on their credit card to be uncomplicated,” said Jason Gaughan, credit card executive at Bank of America. “With our new Unlimited Cash Rewards card, we’ve made earning cash back on all purchases even easier, and are helping clients optimize their spending.”

Unlimited Cash Rewards Features – Clients will automatically earn 1.5% cash back on all purchases, with no limit on the amount of cash back earned. Cash rewards don’t expire, and redemption is simple: clients can redeem their cash back for any amount, at any time for statement credits or deposits directly into a Bank of America checking or savings account, or for credit to an eligible account with Merrill. The Unlimited Cash Rewards card has no annual fee.

Earn Even More with Preferred Rewards – Members of Bank of America’s Preferred Rewards program earn 25% to 75% more cash back on every purchase made with the Unlimited Cash Rewards card, depending on their rewards tier. That means the unlimited 1.5% cash back on all purchases could increase to up to 2.62% cash back.

Award-Winning Credit Card Options – The new card joins the suite of award-winning credit cards from Bank of America including the Bank of America Customized Cash Rewards credit card, which offers clients 3% cash back in a category of their choice. Cardholders choose from one of six categories including gas, online shopping, dining, travel, drug stores and home improvement. Customized Cash Rewards cardholders also earn 2% cash back at grocery stores and wholesale clubs, and unlimited 1% cash back on all other purchases. Clients earn 3% and 2% cash back on the first $2,500 in combined purchases each quarter in the choice category, and at grocery stores and wholesale clubs, then earn unlimited 1% thereafter.

Coming Soon: Business Advantage Unlimited Cash Reward s – Bank of America will launch a similar credit card for business owners in October. The Business Advantage Unlimited Cash Rewards credit card will enable clients to earn unlimited 1.5% cash back on all purchases. Business Advantage Unlimited Cash Rewards clients enrolled in Preferred Rewards for Business can increase their credit card rewards bonus by 25% to 75%, depending on the rewards tier for which they qualify. The Business Advantage Unlimited Cash Rewards card will have no annual fee and rewards do not expire.

Download the Bank of America app or visit bankofamerica.com .

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For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts .

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Credit cards > Reviews

Bank of America Unlimited Cash Rewards credit card review 2024: Straightforward rewards with no annual fee

Rebecca Safier

Robin Saks Frankel

Robin Saks Frankel

“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.

Maddie Panzer

Maddie Panzer

Updated 5:16 p.m. UTC June 6, 2024

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Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site. This commission does not influence our editors' opinions or evaluations. Please view our full advertiser disclosure policy .

The Bank of America® Unlimited Cash Rewards credit card * The information for the Bank of America® Unlimited Cash Rewards credit card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. offers easy-to-digest cash-back rewards of 1.5% cash back on purchases with no annual fee. While this isn’t the highest rewards rate on the market, you might appreciate the card’s welcome offer and elevated rewards potential for Preferred Rewards members. Read our Bank of America Unlimited Cash Rewards card review for more details.

Bank of America Unlimited Cash Rewards credit card basics

  • Annual fee: $0.
  • Welcome bonus: $200 cash rewards bonus after spending $1,000 on purchases in the first 90 days of account opening.
  • Rewards: Earn 1.5% cash back on purchases.
  • APR: 0% intro APR for 15 billing cycles on purchases and any balance transfers made in the first 60 days, then a 19.24% to 29.24% variable APR applies. A 3% intro balance transfer fee will apply for the first 60 days; then a 4% fee applies to future balance transfers.
  • Other perks: Optional overdraft protection, $0 liability guarantee for fraudulent transactions, free monthly FICO score. 
  • Recommended credit score to qualify: Good to excellent. 

Bank of America Unlimited Cash Rewards credit card review

The Bank of America Unlimited Cash Rewards credit card is a straightforward rewards card that earns a simple and unlimited 1.5% cash back on purchases. There’s no minimum redemption amount in most cases and rewards never expire. 

One potential drawback is you can only redeem rewards as cash back to an eligible Bank of America or Merrill investment account. If you bank or invest elsewhere, your options for redemption are limited to credit card statement credits. 

It’s also worth noting that the rewards rate is not the highest you can find on a credit card. There are multiple cards that earn 2% cash-back on all purchases with no-annual-fee that also allow you to redeem your earnings as cash back to any bank account. 

One unique perk of owning a Bank of America rewards credit card is you could qualify for a rewards rate of 25% to 75% more if you’re a Bank of America Preferred Rewards member. This means those at the highest tier will earn 2.62% cash back on every purchase. The qualification for the lowest tier of Preferred Rewards starts at having an average daily balance of at least $20,000 in a qualifying Bank of America or Merrill account over three months. To earn at the 2.62% cash-back rate, you’ll need a balance of at least $100,000 in a qualifying account.

Whether you qualify for Preferred Rewards or not, the card has some other appealing features, including a $200 cash rewards bonus after spending $1,000 on purchases in the first 90 days of account opening and an introductory APR on purchases and qualifying balance transfers. 

  • Introductory APR: New cardholders can enjoy a lengthy low interest period of 0% intro APR for 15 billing cycles on purchases and any balance transfers made in the first 60 days, then a 19.24% to 29.24% variable APR applies. A 3% intro balance transfer fee will apply for the first 60 days; then a 4% fee applies to future balance transfers. 
  • Welcome bonus: New cardholders can earn a $200 cash rewards bonus after spending $1,000 on purchases in the first 90 days of account opening.
  • No annual fee: Use this card a lot or a little, either way, there’s no ownership cost.
  • Other cards offer higher earnings : There are multiple other flat-rate cash-back cards that earn 2% back or more also for no annual fee. While this card has the potential for rewards bonuses, these are only available to consumers who qualify for Preferred Rewards. 
  • Foreign transaction fees: Bank of America charges a 3% fee on any transactions you make outside of the U.S. 
  • No opportunities to earn bonus rewards in certain categories: Some credit cards let you earn extra rewards for purchases at restaurants, drugstores or other common expenses, but the Unlimited Cash Rewards doesn’t offer any elevated earning categories.

Bank of America Unlimited Cash Rewards credit card rewards

The rewards from Bank of America’s Unlimited Cash Rewards credit card are simple — you’ll earn:

  • 1.5% cash back on purchases.

You can redeem your earnings in three ways: 

  • Statement credits. 
  • Deposits into a Bank of America checking or savings account.
  • Credits to a qualifying cash management or 529 account with Merrill. 

If you opt for cash deposits to a bank account, you can set up automatic redemptions. Otherwise, you’ll need to redeem your points on demand as you go. 

Bank of America Preferred Rewards members will earn a rewards bonus based on their membership tier, resulting in a higher rewards rate. Here’s what that looks like: 

While the Bank of America Unlimited Cash Rewards credit card might not offer the most lucrative rewards on the market, it becomes more valuable if you hold Gold status or higher. 

Bank of America Unlimited Cash Rewards credit card rewards potential

Based on government data and other publicly available information, we have estimated that our sample household in the U.S. with an average income and $25,087 in expenses can likely charge a credit card.

If you charged $29,525 on your Bank of America Unlimited Cash Rewards credit card over the course of a year, you’d earn about $442.88 in cash-back rewards. If you’re a Bank of America Preferred Rewards member, expect your card to earn the following based on this annual spend:

Bank of America Unlimited Cash Rewards credit card APR details

If you’re looking to finance a major purchase, the Unlimited Cash Rewards card offers a helpful introductory APR period of 0% intro APR for 15 billing cycles on purchases and any balance transfers made in the first 60 days, then a 19.24% to 29.24% variable APR applies. A 3% intro balance transfer fee will apply for the first 60 days; then a 4% fee applies to future balance transfers. 

How the Bank of America Unlimited Cash Rewards card compares to other cash-back credit cards

Bank of america unlimited cash rewards credit card vs. citi double cash® card * the information for the citi double cash® card has been collected independently by blueprint. the card details on this page have not been reviewed or provided by the card issuer..

The Bank of America Unlimited Cash Rewards card’s rewards rate might sound appealing until you compare it to the cash-back rate on the Citi Double Cash Card . With the Double Cash Card, you’ll earn 2% cash back on purchases — 1% when purchases are made and another 1% when they’re paid off, plus, for a limited time, 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24. 

Citi also lets you redeem your ThankYou® points for cash back into a bank account of your choice. Alternatively, you can opt for statement credits or gift cards from various brands. Since the Double Cash Card earns a higher flat cash-back rate and also doesn’t charge an annual fee, it’s a more valuable addition to your wallet for all except those at the highest Preferred Rewards tier.

The Double Cash also offers a 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 19.24% to 29.24%. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed in the first four months. After that, the fee will be 5% of each transfer (minimum $5). 

Bank of America Unlimited Cash Rewards credit card vs. Wells Fargo Active Cash® Card

The Wells Fargo Active Cash Card is another no-annual-fee card that earns 2% cash rewards on purchases. For new cardholders, it offers a $200 cash rewards bonus after spending $500 in purchases in the first three months of account opening. The Active Cash also comes with a 0% intro APR for the first 15 months on purchases and qualifying balance transfers, then a 20.24%, 25.24%, or 29.99% variable APR applies thereafter. Balance transfers made within 120 days qualify for the intro rate and fee of 3%. After that a fee of up to 5%, with a minimum of $5 applies. In addition, the Active Cash offers cellphone protection when you pay your bill with the card (subject to a $25 deductible and on up to two claims in a 12-month period), something the Bank of America Unlimited Cash Rewards card does not.

Bank of America Unlimited Cash Rewards credit card vs. Chase Sapphire Preferred® Card

If you’d prefer a card with more flexible rewards than just cash, consider the $95-annual-fee Chase Sapphire Preferred Card . This card earns 5 points per $1 on travel purchased through Chase Travel℠, 3 points per $1 on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per $1 on all other travel purchases and 1 point per $1 on all other purchases. 

Rewards can be taken as cash back, typically at a value of 1 cent per point. Or you can book travel through the Chase Travel portal at a 25% increase in value. Or, transfer points at a 1:1 rate to more than a dozen airline and hotel partners, including United Airlines, Southwest Airlines and World of Hyatt. 

New cardholders can also earn 60,000 points after spending $4,000 on purchases in the first three months of account opening. Plus, the Chase Sapphire Preferred Card comes with a variety of useful benefits, including primary rental car insurance, trip cancellation insurance and no foreign transaction fees. This makes it a more versatile choice than the Bank of America Unlimited Cash Rewards card. However, it does have an annual fee and it doesn’t come with a 0% intro APR offer. The best choice between these two will depend on what’s more important to you: A card with no annual fee or one with greater rewards flexibility. 

The Bank of America Unlimited Cash Rewards credit card is right for you if:

  • You’re a Preferred Rewards member with Bank of America and qualify for the higher rewards rate.
  • You prefer a credit card from Bank of America even though cards from other banks may offer better rewards or intro APR offers.
How do you choose the best rewards card for your unique needs? Our guide shows you how

Frequently asked questions (FAQs)

Bank of America doesn’t specify a minimum credit score for the Unlimited Cash Rewards card. However, having at least a good credit score — a FICO Score of 670 or higher — could be helpful when you’re applying for an unsecured credit card. Additionally, like many issuers, Bank of America may consider many factors when reviewing your application, including your credit history, relationship with the company, income and monthly bills.

The Cash Rewards you earn with the Bank of America Unlimited Cash Rewards card won’t expire as long as you keep your account open and in good standing. 

If you close your account or Bank of America closes it for inactivity, you will have 90 days to redeem any remaining rewards. You might immediately lose your unredeemed rewards if Bank of America closes your account for a different reason. 

You won’t be able to redeem rewards if your account doesn’t have charging privileges, which might happen if you miss your monthly payments. But you can earn and redeem rewards again once you bring your account back into good standing.

The “unlimited” in the Bank of America Unlimited Cash Rewards card’s name refers to the fact that you can earn at least 1.5% cash back on purchases. In contrast, some rewards credit cards place caps on bonus rewards. For example, you might earn 5% cash back on purchases within a certain category, but only on the first $1,500 you spend.

You might want to use the Unlimited Cash Rewards card if you’re looking for a cash back credit card that will be simple to manage. It doesn’t have an annual fee, you earn 1.5% cash back on purchases and it often has a welcome bonus and an intro APR offer. 

It could also be a good option if you’re a Preferred Rewards member with Bank of America. Depending on your status in the program, you could receive a 25%, 50% or 75% rewards bonus, resulting in a cash back rate of 1.87%, 2.25% or 2.62%. But if you don’t qualify for one of the top two bonus tiers, also consider other issuers’ flat-rate rewards cards. Some offer 2% cash back without an annual fee.

The Bank of America Unlimited Cash Rewards credit card does not have an annual fee. But there is a cash advance fee and a 3% foreign transaction fee.

You won’t earn cash back on balance transfers or cash advances, which includes cash equivalent purchases, such as a money order. You also won’t earn cash back on returned or fraudulent purchases.

*The information for the Bank of America® Unlimited Cash Rewards credit card and Citi Double Cash® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy . The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Rebecca Safier

Rebecca has been writing about personal finance and education since 2014. With a background in teaching and school counseling, she brings firsthand experience working with students and their families to her writing about student loans, financial aid and the college process. Formerly a senior student loans and personal loans writer for Student Loan Hero and LendingTree, Rebecca now covers a variety of personal finance topics, including budgeting, saving for retirement, home buying and home ownership, side hustles and more. Her work has been featured in MarketWatch, U.S. News & World Report, Forbes Advisor, and other publications, and she's contributed expert commentary to Fortune, Money.com, NBC and more. When Rebecca's not writing about money, she's teaching people how to create profitable blogs on her website, Remote Bliss.

Robin Saks Frankel is a credit cards lead editor at USA TODAY Blueprint. Previously, she was a credit cards and personal finance deputy editor for Forbes Advisor. She has also covered credit cards and related content for other national web publications including NerdWallet, Bankrate and HerMoney. She's been featured as a personal finance expert in outlets including CNBC, Business Insider, CBS Marketplace, NASDAQ's Trade Talks and has appeared on or contributed to The New York Times, Fox News, CBS Radio, ABC Radio, NPR, International Business Times and NBC, ABC and CBS TV affiliates nationwide. She holds an M.S. in Business and Economics Journalism from Boston University. Follow her on Twitter at @robinsaks.

Maddie Panzer is the Updates Editor on the USA TODAY Blueprint team. Prior to joining the team, she studied journalism at the University of Florida. During her studies, she worked as a reporter for the New York Post, WUFT News and News 4 Jacksonville. She was also editor-in-chief of her school’s magazine, Orange and Blue. Maddie holds a B.S. in Journalism.

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2021 has been a notable year for new and revamped premium rewards cards , from launches of products from established players, such as the Capital One Venture X Rewards Credit Card, to a full refresh of The Platinum Card® from American Express with the addition of several novel benefits.

Now, another issuer is joining that group with its latest product: The Bank of America® Premium Rewards® Elite credit card.

With an annual fee of $550, the card is targeted at Bank of America's high- and ultra-high-net-worth clients. But it's not exclusive to that customer base, and you do not need to have a relationship with the bank to apply.

At first glance, the new card seems like a souped-up version of the longstanding Bank of America® Premium Rewards® credit card. For some, however, the new card might be worthwhile to consider instead. From its lifestyle credits to its all-metal design, here's what you need to know about the Bank of America® Premium Rewards® Elite credit card.

The information for the Bank of America Premium Rewards Elite credit card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

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This is Bank of America's first entrant into the world of premium credit cards. The card doesn't come cheap, at $550 per year, but it does have some upscale perks to compensate.

Who this card is for

The "Elite" designation on the Premium Reward Elite card signifies a high-end product, one that is positioned around Bank of America's Preferred Rewards program (more on this below), since customers who participate in the program can boost their potential earnings. This card, therefore, is more about having a cohesive ecosystem of financial products as opposed to constructing a mass-market, standalone credit card.

While banking clients — especially those with a higher net worth — will likely benefit the most, the card is open to the general public. In a crowded field of premium cards , however, Bank of America's offering isn't going to be for everyone.

Before looking at benefits, there's one thing you should know. Unlike transferable points products from Chase, Amex, Capital One or Citi, you cannot convert your Bank of America points into any airline frequent-flyer miles or hotel loyalty program points. This isn't a new limitation, but one that is particularly evident in a product that charges a high annual fee.

Nevertheless, let's dig into the benefits and see who this card can make sense for, especially among those who prefer the simplicity of a fixed-value rewards program.

bofa travel rewards vs unlimited cash rewards

Most rewards cards with high annual fees offer perks that help offset some (or all) of that yearly cost. The Premium Rewards Elite card is no different, with the following notable benefits:

Statement credits

  • Up to $300 annually in airline incidental statement credits.
  • This includes purchases such as seat upgrades, baggage fees, and airline lounge fees but not airfare.
  • Up to $150 annually in statement credits for lifestyle conveniences.
  • This includes streaming services, food delivery, fitness subscriptions and ride-hailing services.
  • Up to $100 in statement credits for Global Entry or TSA PreCheck application fees (once every four years).

Earning rates

  • 2 points per dollar on travel and dining purchases
  • 1.5 points per dollar on all other purchases
  • Preferred Rewards members earn 25%-75% more points on every purchase. This means clients could earn up to 3.5 points on travel and dining purchases, and up to 2.625 points on all other purchases, for every dollar they spend.
  • Redeem points for travel, cash back, a statement credit, experiences or gift cards at 1 cent apiece.
  • 20% savings on airfare for any class when paying with points through the Bank of America Travel Center or concierge. This brings your per-point value for these redemptions to 1.2 cents.

Other perks

  • Complimentary Priority Pass Select Membership.
  • Private flying with NetJets: Purchase or redeem points for flight time and complimentary upgrades.
  • Complimentary 24/7 full-service concierge.
  • Visa Infinite card benefits, including the Visa Infinite Luxury Hotel Collection.
  • No foreign transaction fees.

Sign-up bonus

You'll receive 50,000 bonus points after you spend $3,000 on purchases in the first 90 days of account opening. These points have a fixed value of 1 cent each, meaning that this bonus is worth $500.

However, thanks to 20% savings on airfare when paying with points through the Bank of America Travel Center, your bonus points can be worth up to $600. This is far from the most lucrative bonus out there, but $600 can go a decent way towards airfare.

The differentiator: Bank of America Preferred Rewards

bofa travel rewards vs unlimited cash rewards

The real differentiator is with Bank of America's Preferred Rewards program . Essentially, if you have enough assets with Bank of America, you're rewarded for using one of the bank's credit cards. To qualify for the program, you must have both of the following:

  • An active, eligible Bank of America checking account.
  • A three-month combined average daily balance of $20,000 or more in qualifying Bank of America deposit accounts and/or Merrill investment accounts.

There are now five tiers of Preferred Rewards (up from three), which you qualify for based on your combined average daily balance. They are organized like this:

  • Gold: $20,000 or more in total assets.
  • Platinum: $50,000 or more in total assets.
  • Platinum Honors: $100,000 or more in total assets.
  • (NEW) Diamond: $1 million or more in total assets.
  • (NEW) Diamond Honors: $10 million or more in total assets.

Preferred Rewards members earn a 25%, 50% or 75% rewards bonus on select Bank of America cards , including this new Premium Rewards Elite card.

Compared to the Premium Rewards credit card

First, let's point out the obvious — and probably most disappointing — aspect of this card. It's essentially a slightly enhanced version of the Bank of America® Premium Rewards® credit card.

How it's similar

The rewards card without the "elite" designation has a $95-per-year annual fee and earns a similar 2 points per dollar on travel and dining, along with 1.5 points per dollar on everything else. It similarly qualifies for the Preferred Rewards bonuses for customers that do their banking business with Bank of America. It carries an up-to $100 airline incidental statement credit and comes with the same Global Entry/TSA PreCheck statement credit as the elite version.

How it's different

The primary difference between the two cards is the annual statement credits offered by the Bank of America Premium Rewards Elite credit card (but not the Bank of America Premium Rewards card) — up to $300 in airline incidental credit and up to $150 in lifestyle credit. In addition, the "elite" Bank of America card has a Priority Pass benefit and the 20% rebate when redeeming points for airfare through the issuer's travel portal. It also offers some more comprehensive Visa Infinite travel protections and a snazzier all-metal design.

However, the new elite card doesn't distinguish itself in other ways that make it a notable standalone product, especially when considering it within the context of Bank of America's overall card lineup. I can't help but notice the lack of originality — not just in the card's name but also in its overall benefits.

How to apply

For now, the Premium Rewards Elite card is only available at Bank of America branches, through its call center and via the bank's wealth management advisor channels. You won't be able to apply for the card online until the end of February 2022.

Bottom line

Bank of America isn't going for mass-market appeal with its first sally into the world of premium travel cards.

Instead, the Bank of America Premium Rewards Elite card seems to target existing or incoming Preferred Rewards program clients by offering them a higher-priced product within the Bank of America ecosystem. It's a card that will likely remain a niche player, especially considering applications remain limited to offline channels until early next year and the fact that Bank of America does not have airline or hotel transfer partners. With that said, it's still a solid card for those that bank with Bank of America who can take advantage of its annual statement credits.

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Best Travel Cards Main Takeaways

  • Money has evaluated hundreds of credit cards, comparing their fees, benefits, welcome offers, travel insurance policies and more.
  • The top credit cards for travel offer high rewards on travel purchases, which can be redeemed for airfare, hotel nights, cash back, statement credits or more.
  • Our picks feature the best travel cards for every budget and include no-annual-fee , low-annual-fee , premium and business cards .

Why Trust Us?

Our editorial team has spent well over a thousand hours analyzing, evaluating and comparing the top credit card offers in the market. We carefully vet each card’s fine print in order to understand their features, limitations and potential benefits for consumers. We review cards independently, ensuring our content is accurate and guided by editorial integrity. Read our full methodology to learn more.

  • 46 travel credit cards evaluated
  • 10+ data points used, including ongoing fees, reward programs and welcome offers
  • 100+ sources reviewed

Get up to $120 every year in dining credits ($10 per month) for select restaurants and food delivery services. (Enrollment required. Terms apply.)

(Click here for rates and fees.)

Offers a statement credit of up to $100 for Global Entry or TSA PreCheck, includes travel accident and car rental insurance and allows you to transfer your miles to more than 15 airline and hotel partners.

Offers a high flat cash back rate on most purchases plus several popular bonus categories, including travel and dining.

Each account anniversary year, you’ll earn a point bonus equal to 10% of your total purchases made the previous year.

Receive up to $300 back as statement credits for travel-related purchases

Includes access to over a thousand airport lounges worldwide and several annual credits, like up to $200 in statement credits to cover incidental travel fees. (Terms apply.)

Money.com has partnered with CardRatings.com for our coverage of credit card products. Money and CardRatings may receive a commission from card issuers. This site does not include all card companies or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone and have not been reviewed, endorsed, or approved by any of these entities. Our top picks are listed strictly in alphabetical order.

Our Top Picks for Best Travel Credit Cards

Best no-annual-fee travel credit cards.

  • Bank of America® Travel Rewards Credit Card - Best no-annual-fee travel card for flat rate rewards
  • Bilt Mastercard® - Best no-annual-fee travel card for paying rent
  • Capital One VentureOne Rewards Credit Card - Best no-annual-fee card for travel partners
  • Chase Freedom Unlimited® - Best no-annual-fee travel card for domestic travel
  • Discover it® Miles Credit Card - Best no-annual-fee travel card for simple rewards
  • Wells Fargo Autograph℠ Card - Best no-annual-fee travel card for everyday spending

Best low-fee-annual-fee travel credit cards

  • Capital One Venture Rewards Credit Card - Best travel card for flat-rate rewards
  • Chase Sapphire Preferred® Card - Best travel card for flexible rewards

Best premium travel credit cards

  • American Express® Gold Card - Best travel card for dining
  • Capital One Venture X Rewards Credit Card - Best low-cost premium travel card
  • Chase Sapphire Reserve® - Best premium travel credit card
  • The Platinum Card® from American Express - Best travel card for lounge access

Best business travel credit cards

  • The Business Platinum Card® from American Express - Best business travel card

Best airline travel credit cards

  • United℠ Explorer Card: Best airline credit card

Best Travel Credit Cards Reviews

Best no-annual-fee travel credit cards, bank of america® travel rewards credit card.

  • No annual fee
  • No foreign transaction fees
  • Earns 1.5x points on all purchases
  • No bonus category for travel
  • Few benefits compared to other cards
  • Limited redemption options

Why we chose it: The Bank of America® Travel Rewards Credit Card is an easy-to-use card best suited for travel reward beginners or those who are already Bank of America customers.

Some cardholders can earn up to 75% more points if they are Bank of America Preferred Rewards members — that's up to 2.62 points for every dollar spent.

However, the card doesn't offer hotel and airline point transfer partners, travel insurance or extended warranty and purchase protection. Additionally, you can only redeem your points as statement credit to cover travel and dining purchases.

All information about Bank of America® Travel Rewards Credit Card has been collected independently by Money.com

Bilt Mastercard®

  • No annual or foreign currency conversion fee (Click here for rates and fees)
  • Use it to pay your rent and earn rewards without incurring any processing fees
  • You can earn double points on all purchase categories (except rent payments) on the first of every month (up to 10,000 points)
  • Earn 2x points on travel (when booked directly through an airline, hotels, car rental agencies and cruise lines)
  • No welcome bonus or introductory APR period
  • Points redeemed for statement credits are worth 0.55 cents each
  • You must make at least five transactions in a statement period to earn points
  • Rent payments can only be made to one rental property per month

Why we chose it: The Bilt Mastercard® lets you earn travel rewards on rent payments without incurring any processing fees — unlike most credit cards that typically charge around 2.5% to 2.9% per rent payment.

You can use the card to pay rent without worrying about surcharges. Once you get approved for the card, all you have to do is set up an account through the Bilt app or website and use your assigned routing and account number to pay rent through your usual payment portal. You can also use your card even if your landlord only accepts checks, and Bilt will send a check on your behalf.

Additionally, Bilt doubles the card’s rewards rates on the first of every month, which means you can earn 6x points on dining, 4x points on travel and 2x points on other purchases (up to 10,000 points per month). However, this bonus doesn't apply to rent rewards.

On the downside, the Bilt Mastercard® doesn't offer a welcome bonus, and points redeemed for statement credits are only worth 0.55 cents each.

Capital One VentureOne Rewards Credit Card

  • Can transfer your miles to 16 travel partners
  • Earns 5x miles per dollar on hotels and rental cars booked through Capital One Travel
  • Doesn’t earn bonus points on airfare
  • No domestic travel partners

Why we chose it: The Capital One VentureOne Rewards Credit Card is a great option if you’re looking for a no-annual fee travel credit card with a simple rewards structure.

You can use your miles to book travel through the Capital One Travel portal or as a statement credit to cover travel purchases made from airlines, hotels, rail lines, car rental agencies and more.

You can also transfer your points to one of Capital One's 16 travel partners, which include international airlines such as Avianca and British Airways. This option is notable since travel credit cards with no annual fee don't typically offer the option to transfer your reward to airline and hotel partners.

However, the card's list of bonus categories is limited compared to some other no-annual-fee credit cards, and Capital One doesn't offer bonus points on airfare booked through Capital One Travel.

Chase Freedom Unlimited®

  • Includes trip cancellation/interruption and car rental insurance
  • Features a high flat cash back rate combined and popular bonus categories
  • 3% foreign transaction fee

Why we chose it: The Chase Freedom Unlimited® is the best credit card for traveling domestically. It offers a 1.5% flat cash back rate on most purchases plus it has several appealing bonus categories, including travel and dining.

This card charges a 3% foreign transaction fee, that is, on any transactions made in currency other than US dollars. However, if you mostly travel within the U.S., this card is an excellent option.

For one, you’ll earn an additional 1.5% on each of the card’s bonus categories during the first year of card membership (or up to the first $20,000 spent).

Also, although using this card abroad is not recommended, you can still use it to book international trips while you’re home, and you’ll earn 5% cash back if you book it through Chase Travel℠.

You can redeem your rewards for cash back, travel, gift cards and even transfer them to other cards that earn Chase Ultimate Rewards® points. It's also worth noting that this card is one of the few no-annual-fee credit cards with rental car coverage and trip cancellation and interruption insurance.

Discover it® Miles Credit Card

  • No annual or foreign transaction fees
  • Discover matches the total miles you earned at the end of the first year
  • Earns 1.5x miles on all purchases
  • See your FICO score on the Discover mobile app, online and on statements
  • Few benefits compared to other travel cards
  • Doesn’t include extended warranty or purchase protection

Why we chose it: The Discover it® Miles Credit Card is a no-frills card ideal for travelers who don’t want to keep track of bonus categories, earning caps or redemption values.

The card earns a flat 1.5x miles on all eligible purchases without any annual caps. You can redeem your miles for statement credits and account deposits at a rate of 1 cent per mile. You can also use your rewards through Amazon and PayPal checkout with the same value.

Also, the card’s welcome bonus is easily one of the best in the market: Discover matches every mile you've earned at the end of your first membership year — without any spending requirements.

However, while the Discover it® Miles Credit Card is a great starter travel card, its lack of bonus categories could hinder your reward-earning potential in the long run. Additionally, Discover cards aren’t as widely accepted internationally as Visa Signature and World Mastercard, for example.

All information about the Discover it® Miles Credit Card has been collected independently by Money.com.

Wells Fargo Autograph℠ Card

  • Earn 3x points on restaurants, travel, gas stations, select streaming services and cell phone plans
  • Includes cell phone protection plan
  • No airline or hotel transfer partners
  • Doesn’t include travel insurance
  • Netflix and HBO are not eligible for streaming bonus

Why we chose it: The Wells Fargo Autograph℠ Card is the best travel reward card for everyday spending, offering high rewards on several popular spending categories, including travel, dining, gas, streaming services and cell phone plans.

Its travel bonus category is particularly noteworthy because you can earn points regardless of where you make your reservations, whether it’s directly with an airline or through a third-party travel site like Booking.com. (Most travel credit cards limit travel rewards to bookings made exclusively through the card issuer's travel portal.)

The card also includes rental car insurance and a cell phone protection plan when you use it to pay your monthly bill.

All information about the Wells Fargo Autograph℠ Card has been collected independently by Money.com.

Best Low-Annual-Fee Travel Credit Cards

Capital one venture rewards credit card.

  • Earn 2x miles per dollar on most purchases
  • Up to $100 credit for Global Entry or TSA PreCheck®
  • Includes travel accident and car rental insurance
  • Fewer bonus categories than other cards with a similar annual fee ($95)
  • Doesn’t offer travel rewards for flights
  • Car rental insurance is secondary

Why we chose it: The Capital One Venture Rewards Credit Card is the best credit card for travel miles if you want to earn a high reward rate and not worry about bonus categories.

The Capital One Venture Rewards is ideal for those who want to get the most out of their spending without worrying about tracking bonus categories and spending caps.

You can redeem your miles on the Capital One travel portal and as statement credits to cover travel purchases at a value of one cent per mile. Additionally, you may transfer your miles to more than 15 airline and hotel partners.

However, keep in mind that Capital One doesn’t have domestic travel partners, which can be a drawback if you mainly travel within the U.S.

Chase Sapphire Preferred® Card

  • Points are worth 25% more when redeemed for travel purchases through Chase Travel℠
  • Receive a point bonus each account anniversary
  • Includes primary rental car insurance
  • Earn 3x per $1 on dining, including eligible delivery and takeout meals, select streaming services and grocery purchases
  • $95 annual fee
  • Doesn't offer a Global Entry/TSA PreCheck® application fee credit

Why we chose this card: The Chase Sapphire Preferred® Card is the best travel credit card for frequent travelers who want to earn valuable rewards while paying a low annual fee.

The card features six reward categories that offer outstanding rewards on flights, hotels, restaurants and more. You can redeem your points for statement credits, account deposits, gift cards and more. But you can get the most bang for your buck by redeeming them for travel purchases through the Chase Travel℠ portal, which increases your point’s usual one-cent value by 25%.

You can redeem your points for statement credits, account deposits, gift cards and more. But you can get the most bang for your buck by redeeming them for travel purchases through Chase Travel℠, which increases your point’s usual one-cent value by 25%.

You can also transfer your points to one of Chase's 14 travel partners at a 1:1 ratio (one Chase point equals one hotel point or airline mile). These include popular airlines and hotels like JetBlue, Southwest, United, Marriott and Hyatt.

Best Premium Travel Credit Cards

American express® gold card.

  • Earns 4x points on restaurants worldwide, takeout and food delivery within the U.S.
  • Up to $120 in annual dining credits, issued as a $10 statement credit per month for select restaurants (enrollment required)
  • Up to $120 as Uber Cash annually ($10 per month) for food delivery orders and rides in the U.S. after you add the American Express® Gold Card to your Uber account
  • Earn 4x points at U.S. supermarkets (on up to $25,000 per calendar year, then 1x)
  • High annual fee ($250)
  • Includes few travel perks and insurance policies compared to similarly priced cards

Terms apply. Please click here for applicable rates and fees.

Why we chose it: The American Express® Gold Card is ideal for foodies, offering a high reward rate at restaurants worldwide and U.S. supermarkets, takeout and food delivery. (Terms apply.)

The American Express® Gold Card also offers statement credits worth up to $240 combined — almost enough to offset the card's $250 annual fee. These include:

  • Up to $120 every year in dining credits ($10 per month) for select restaurants and food delivery services. The list includes Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and Shake Shack (Enrollment required)
  • Automatically get $10 monthly in Uber Cash to use on Uber Eats or Uber rides in the U.S. (after you add the American Express® Gold Card to your account)
  • $100 credit for dining, spa services and other activities when you book a two-night minimum stay at a hotel from The Hotel Collection through American Express Travel
  • Terms apply

However, note that the American Express® Gold Card offers fewer travel perks than some other premium cards — for instance, it doesn’t offer trip cancellation and interruption insurance or TSA PreCheck® or CLEAR® Plus fee credits.

Capital One Venture X Rewards Credit Card

  • 10,000 bonus miles every year
  • Statement credit of up to $300 for bookings made through Capital One Travel
  • Up to a $100 credit on Global Entry or TSA PreCheck®
  • Skip the line and get car upgrades when renting a car with Hertz
  • High annual fee ($395)
  • Fewer bonus categories than other premium cards
  • No domestic airline transfer partners

Why we chose it: The Capital One Venture X Rewards Credit Card is the best credit card for travel miles if you want to earn a high reward rate and not worry about bonus categories.

The Capital One Venture X also includes noteworthy perks such as:

  • 10,000 bonus miles every year (starting on your first anniversary)
  • $300 annual credit for bookings through Capital One Travel
  • Up to a $100 credit for Global Entry or TSA PreCheck®
  • Access for you and two guests to 1,300+ lounges worldwide with Priority Pass™ Select and Plaza Premium Group
  • Authorized users at no extra cost (many cards have an annual fee of $75 or more for each additional user)

All in all, the Venture X is a solid option that can easily compete with other premium travel cards, especially considering its more affordable annual fee.

Chase Sapphire Reserve®

  • Up to $300 in statement credits each anniversary year to cover travel purchases
  • Transfer your points to 14 travel partners (including United, Southwest, JetBlue and Marriott)
  • Points worth 50% more when redeemed for travel expenses through Chase Travel℠
  • Comprehensive travel insurance coverage, including emergency dental insurance
  • High annual fee ($550)
  • Doesn’t include a cell phone protection plan

Why we chose it: The Chase Sapphire Reserve® is the best credit card for travelers looking for a high reward rate on travel and additional benefits like comprehensive travel insurance and airport lounge access worldwide.

Your points are worth 50% more when you redeem them for travel through the Chase Travel℠ portal. This means each point is worth 1.5 cents per point instead of one cent, like most travel cards. Also, the Chase Sapphire Reserve® provides several high-end benefits such as:

  • $300 annual travel credit to cover travel-related purchases like airfare, hotels, car rentals, rideshares, buses, trains, tolls and/or parking
  • Access for you and two guests to 1,300+ airport lounges worldwide (after a one-time enrollment in Priority Pass™ Select)
  • Statement credit of up to $100 every four years for Global Entry, TSA PreCheck® or Nexus

The Sapphire Reserve does have a $550 annual fee. But if you take advantage of the $300 annual credit and other perks, the benefits can definitely outweigh its cost.

The Platinum Card® from American Express

  • Access to the widest network of airport lounges of any card
  • Complimentary elite status in the Marriott and Hilton hotel loyalty programs
  • Hundreds of dollars in annual statement credits for travel, dining and more
  • High annual fee ($695)
  • Doesn’t include baggage delay, travel accident and primary rental car insurance
  • Limited bonus categories

Terms apply. Click here for rates and fees.

Why we chose this card: The Platinum Card® from American Express offers a list of premium benefits that no other travel card offers, including the widest network of airport lounges and room upgrades at Hilton and Marriott hotels. (Terms apply.)

The Platinum Card® from American Express features an impressive list of high-end travel benefits, including:

  • Complimentary access to over 1,400 airport lounges, including Priority Pass, Delta SkyClub and Amex's own Centurion lounges (enrollment required)
  • Gold status in the Marriott and Hilton loyalty programs, which makes you eligible for room upgrades, free breakfast and late checkouts (enrollment required)
  • $200 back each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings made through American Express Travel and paid with your Platinum Card® (Hotel Collection bookings require a minimum two-night stay)
  • Up to $200 per year when incidental fees, such as checked bags, are charged by the airline to your Platinum Card® (with one selected qualifying airline)
  • Complimentary premium status in Avis Preferred®, Hertz Gold Plus Rewards®, and/or National Car Rental® Emerald Club (must enroll through your Amex online account using your card)

The Platinum Card® from American Express does have a hefty $695 annual fee. However, for people who travel often and will take advantage of its annual credits and travel perks, it might almost pay for itself.

Best Business Travel Credit Cards

The business platinum card® from american express.

  • 5X points on flights and prepaid hotels booked through AmexTravel.com
  • Around $1,000 in yearly statement credits for select business purchases
  • Access to a wide network of airport lounges (terms apply)
  • Around $600 in perks in Fine Hotels + Resorts® locations booked through American Express Travel (for stays of two nights)
  • Secondary rental car coverage**

Why we chose it: The Business Platinum Card® from American Express features an extensive list of benefits that make it an ideal travel and business credit card.

With this card, you can access over 1,400 airport lounges worldwide, comprehensive travel insurance and extra amenities at hundreds of hotels, like daily breakfast and free internet access. Additionally, you get a $200 credit to cover baggage fees, in-flight refreshments and more and up to $100 for Global Entry or $85 for TSA PreCheck® every four or 4.5 years respectively. (Terms apply.) (Enrollment required.)

The card also offers several yearly statement credits for business-related purchases that include up to $400 per year ($200 between January and June and $200 between July and December) for U.S. purchases with Dell.

The Business Platinum Card® from American Express does have one of the steepest annual fees ($695) among travel credit cards, but its extensive list of benefits makes it a no-brainer for business owners who travel frequently.

Best Airline Travel Credit Cards

United℠ explorer card.

  • Free first checked bag for you and a companion
  • Up to $100 as a statement credit for Global Entry, TSA PreCheck® or NEXUS every 4 year
  • 25% back as a statement credit on food, beverages and Wi-Fi on board United-operated flights
  • Complimentary priority boarding for you and companions traveling on the same reservation
  • $95 annual fee (after the first year)
  • No intro APR period
  • Rewards are only valuable when used with United

Why we chose it: The card_name has a low annual fee and gives you valuable benefits that make up for it, such as priority boarding for everyone on the reservation and a free checked bag for you and one companion.

Other perks the card includes are:

  • Two one-time passes for United Club℠ airport lounges each account anniversary year
  • 25% back as a statement credit on in-flight purchases like food, beverages and Wi-Fi
  • Up to $100 every four years to cover the cost of TSA PreCheck®, Global Entry or NEXUS
  • Comprehensive travel insurance (auto rental collision damage waiver, baggage delay insurance, lost luggage reimbursement, trip cancellation/interruption insurance and trip delay reimbursement)

The United℠ Explorer Card earns miles on United purchases, including tickets, inflight food, beverages, Wi-Fi and more. You also earn rewards at restaurants and select hotel stays.

You can use your miles to book flights on United Airlines or its partners, including Avianca, Lufthansa and Air Canada. You can also redeem them for seat upgrades, inflight Wi-Fi passes and more — although United miles are usually more valuable when used for airfare.

Travel Credit Cards Guide

The best credit cards for travel do more than offer high reward rates on flights and hotel stays. They also provide rewards for everyday spending and perks such as travel insurance , airport lounge access and annual statement credits.

Here's a rundown of how these cards work:

What is a travel credit card?

Travel credit cards offer benefits and rewards geared towards individuals who travel frequently or want to earn travel benefits.

They provide high rewards for travel-related expenses such as flights, hotels, rental cars and dining. You can then use these rewards (in the form of points or miles) to book travel reservations. Some cards also let you transfer your rewards to hotel and airline partners or redeem them for statement credits, cash back, gift cards and more.

On top of the rewards, these cards often feature several travel-related perks, such as no foreign transaction fees, hotel discounts, travel insurance, free checked bags and airport lounge access.

How do travel credit cards work?

Travel credit cards give you a certain number of points or miles per dollar on eligible purchases. They often offer around 5x points or more for airfare, hotel rooms, rental cars and more. Some cards may also count parking, bus fares, taxis, tolls and ferries as travel purchases.

Besides travel, you'll typically get bonus points in additional spending categories. For example, some cards may offer 3x points per dollar on dining, groceries, drugstores or streaming services. All other eligible purchases usually get at least one point (1x) per dollar.

You can then redeem your points for flights, hotels, car rentals, cruises and more. Card issuers also usually let you redeem your points for non-travel options like statement credits, cash back or gift cards.

How to use credit card points for travel

Travel credit cards have rewards programs through which you can earn points (or miles). Well-known point programs include Chase Travel℠, American Express Membership Rewards® and Citi ThankYou® Rewards.

To redeem your points, go to your card's rewards program portal. You'll usually be able to access it through your online account on the issuer’s website or app.

Once you log in, you’ll get several redemption options, including travel. To make a reservation, select whether you want to book a flight, hotel, car rental or other available options and enter your trip details, including travel dates and number of travelers.

How much are points and miles worth

Points are usually worth one cent each. However, some issuers increase their value if you redeem them for travel. For example, Chase Sapphire Preferred® Card points are worth 1.25 cents when used to book flights through the Chase Travel℠ portal.

Points may also be worth less than a cent, depending on how you redeem them. For example, some cards allow you to use your points at Amazon checkout. While this might sound convenient, this option may bring down the value of points to around 0.8 cents.

Some cards also allow you to transfer your rewards to select airline and hotel partners. Typically, you can transfer rewards to these loyalty programs on a 1:1 ratio, meaning that 1,000 credit card points are worth 1,000 loyalty program points.

Difference between points and miles

You'll earn points or miles depending on which travel credit card you have. For example, Chase travel credit cards earn points, while Capital One travel cards earn miles. Miles and points typically have similar value (around one cent each) and redemption options.

However, keep in mind that several cards that earn miles are tied to a specific airline — like the United℠ Explorer Card. In this case, you can only use your rewards for purchases with the issuing airline such as flights, seat upgrades, inflight dining and more.

Pros and cons of travel credit cards

  • Some cards offer up to 10x points per dollar on travel purchases.
  • Many have additional bonus categories for dining, grocery shopping and more.
  • They may include travel benefits like priority boarding, airport lounge access and late hotel checkouts.
  • Points or miles can also be redeemed for cash back, statement credits, gift cards and more.
  • Highest reward rates are usually limited to purchases made through the card issuer's travel portal.
  • They might not offer high rewards on spending outside of the travel category.
  • Some of the best ones can have steep annual fees and require good to excellent credit
  • Redeeming points or miles for anything other than travel can reduce their value to less than one cent per dollar.

Types of travel credit cards

Here’s a rundown of the differences between the three main types of travel credit cards:

Airline credit cards

Airline credit cards are ideal for people who regularly fly with the same airline. These cards earn miles you can redeem for flights, seat upgrades, inflight dining, airport lounge access and other travel-related purchases but typically only with the issuing airline.

Some of the best airline travel credit cards include benefits like free checked bags, priority boarding and discounts on in-flight purchases.

Hotel credit cards

With hotel credit cards, you can only redeem your points for stays, discounts and other benefits with one particular hotel chain.

For example, the Hilton Honors American Express Surpass® Card earns points for Hilton's loyalty program, which you can redeem for free nights in the company's properties, including Hilton Garden Inn and Waldorf Astoria hotels.

Hotel credit cards may also offer complimentary breakfast, room upgrades, late checkouts and bonus points for purchases made during your stay.

General travel credit card

General travel credit cards are more flexible than airline or hotel cards. They aren't affiliated with a single airline or hotel chain, so their points can be used to book flights, hotel stays, rental cars and more from different companies.

These cards may also offer useful perks for frequent travelers, like airport lounge access. They can also cover the cost of a Global Entry or TSA PreCheck® membership, which allows you to skip the long lines at airport security or customs.

How to choose a travel credit card

Picking the best travel rewards credit card boils down to how often you travel, which cardmember perks you'd benefit the most from and the categories you spend the most on.

Here are some factors to keep in mind when choosing the best card for you:

  • Do you travel often? A travel rewards credit card offers high reward rates on travel spending, and you’ll get the most bang for your buck when you use their points on flights, hotels and car rentals. If you don't take trips often but want to pile up rewards, a cash-back credit card might be a better fit.
  • Assess your everyday spending. Many travel cards have additional bonus categories other than travel, like dining, supermarkets, streaming services and drugstores. Consider your day-to-day spending habits and pick a card with bonus categories that fit your lifestyle.
  • Consider the card's annual fees. No-annual-fee travel cards usually have few travel benefits. The best travel credit cards charge annual fees of at least $90 and can go as high as $700. However, these are often best for those that travel enough to take advantage of their benefits.
  • General travel card vs co-branded cards. General travel cards have more flexible redemption options. On the other hand, co-branded cards are often tied to a specific airline or hotel, which can limit your options. Still, they do provide valuable perks like free checked bags, in-flight discounts and hotel upgrades.
  • Compare extra travel perks. Some cards offer extras like annual statement credits for flights and hotels or upgrades when renting cars. Take the time to compare each card's roster of add-ons and pick one that will best suit your travel plans.
  • Compare insurance policies. The best credit card travel benefits include insurance policies that cover travel accidents, rental cars, trip cancellations and more. These policies can vary widely based on the issuer and the card's annual-fee tier.
  • Beware foreign transaction fees. Most travel credit cards don’t charge foreign transaction fees. Some cash-back cards may offer outstanding rewards for travel purchases but charge around 3% fees on purchases outside the U.S.
  • Look beyond welcome offers. A 60,000-point welcome bonus can be enticing. However, it shouldn't be your deciding factor, especially if you'll end up paying a high annual fee without getting your money's worth.

How to get the most out of your travel credit card

Here are some other tips to maximize your card's rewards and benefits:

  • Use your card as often and strategically as possible. This way, you can earn points or miles with each purchase and redeem them for free or discounted flights, hotels and more. (Remember to pay your card off in full each month to avoid interest charges and credit card debt .)
  • Consider adding an authorized user to your account. They’ll earn points with every purchase they make, and those will get added to your overall total. However, make sure to pick someone who will use the card responsibly since you'll be legally liable if they ever fail to pay their monthly bills.
  • Redeem your rewards for travel through the card issuer's website. This redemption option usually offers the highest value compared to gift cards or merchandise, for example.
  • If your card offers travel protections (like travel accident or luggage insurance), use it to pay for your passenger fares. This way, you could be reimbursed in the event of an accident or lost luggage, for example.
  • Use your airline or hotel card to sign up for the company's frequent flyer or frequent guest loyalty program. You'll often earn extra points or miles when you're a member and use your co-branded card to pay for flights, hotel stays and more.
  • If you can transfer points from other credit cards to your travel card, take advantage of this feature. This way, you can accumulate extra points for travel booking and sometimes even increase their value.

Best Travel Credit Cards FAQs

What is the best travel credit card, what is the best credit card for international travel, how to travel for free with credit cards, what is the best credit card for travel miles, what is a welcome bonus on a credit card, how we chose the best travel credit cards.

We ranked the best credit cards for travel based on their annual fees, benefits, reward rates and redemption flexibility.

Fees: We compared interest rates and foreign, cash advance and balance transfer fees for more than 50 credit cards. We also considered their annual fee, looking for those that offered the most for the money.

Ongoing benefits: Intro APR and bonus offers are attractive, but they can only get you so far. We focused on cards with year-round benefits such as travel insurance or cell phone protection plans.

Reward rates: We preferred cards that allow you to earn extra points from travel expenses, as well as those that provide significant bonus rewards in popular spending categories, like dining, supermarkets or streaming services.

Redemption flexibility: Our picks don’t limit your redemption options to just travel. Some let you use your points for Amazon purchases, for example. We also preferred issuers that allowed cardholders to transfer their points to airline and hotel partners.

Summary of Money’s Best Travel Credit Cards of June 2024

Money.com has partnered with CardRatings for our coverage of credit card products. Money.com and CardRatings may receive a commission from card issuers.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

To see rates and fees for the American Express® Gold Card, visit this link . Terms apply.

To see rates and fees for The Platinum Card® from American Express, visit this link . Terms apply.

To see rates and fees for The Business Platinum Card® from American Express, visit this link . Terms apply.

* Insurance disclosures for American Express Cards on this page:

Trip Delay Insurance: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

Trip Cancellation and Interruption Insurance: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

Baggage Insurance Plan: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

Global Assist Hotline: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Card Members are responsible for the costs charged by third-party service providers.

Extended Warranty, Purchase Protection, Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

Car Rental Loss & Damage Insurance: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

** Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

*** Car Rental Loss and Damage Insurance can provide coverage up to $50,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

Bank of America Unlimited Cash vs. Bank of America Customized Cash Rewards

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Key takeaways

  • The Bank of America® Unlimited Cash Rewards credit card offers a number of unique perks to cardholders, including unlimited 1.5 percent cash back on all purchases.
  • The Bank of America® Customized Cash Rewards credit card is another cash back card option, this one offering bonus cash back of up to 3 percent each quarter in select categories.
  • While these cards have some similarities, it is important to compare rewards, bonuses, perks and more to understand which option is best suited to your spending habits and goals.

In 2021, Bank of America introduced the Bank of America® Unlimited Cash Rewards credit card, offering an unlimited 1.5 percent cash back on all purchases. But how does this card compare to another of the bank’s cash back cards: the Bank of America® Customized Cash Rewards credit card?

The better card for you depends on your spending habits and how involved you want to be when it comes to earning rewards. Read on to learn about how the Unlimited Cash compares to the Customized Cash in terms of rewards, bonuses, perks and more.

Main details

Bank of america unlimited cash vs. bank of america customized cash highlights.

Both the Bank of America Unlimited Cash Rewards and the Bank of America Customized Cash Rewards cards offer identical welcome bonuses, intro APR offers and no annual fee. Despite so many similarities, it’s mainly their rewards rates that set them apart from one another. Let’s take a closer look at how these two cash back cards stack up.

Welcome bonus winner: Tie

Both cards offer the same $200 welcome bonus after spending $1,000 within the first 90 days after account opening. This spending requirement translates to approximately $333 in monthly spending for the first 3 months to earn the bonus. This $200 bonus is on par with welcome offers from other cash back cards . However, Bank of America’s spending threshold for earning the welcome bonus is higher than what some other card issuers require.

For example, the Capital One SavorOne Cash Rewards Credit Card only requires you to spend $500 in the first three months to earn a $200 bonus. With the Citi Custom Cash® Card , you can earn 20,000 ThankYou points — worth $200 in cash back — after spending $1,500 in the first six months, which is a longer period than the Bank of America cards allow. So, while Bank of America’s Unlimited Cash and Customized Cash Rewards cards have the same welcome offer, it’s slightly more difficult to attain than offers from competing cash back cards.

Rewards rate winner: Bank of America Customized Cash Rewards

The Customized Cash provides 3 percent cash back on purchases in a category of your choice. Eligible categories include:

  • Gas/EV charging
  • Online shopping
  • Home improvement

You’ll also get 2 percent back on grocery store and wholesale club purchases, along with 1 percent cash back on all other purchases. However, the 2 percent and 3 percent categories are limited to $2,500 in combined quarterly spending. After that limit is met, those categories will earn 1 percent back.

As a Customized Cash cardholder, you can change your rewards category once per month. For example, you might have your 3 percent cash back category set to home improvement while you’re working on a renovation project. After that, you might want to switch the category to travel before booking a big vacation.

While the Unlimited Cash card offers a no-fuss, flat cash back rate of 1.5 percent, the Customized Cash offers more rewarding cash back rates than the Unlimited Cash. It means you’re likely to earn more with the Customized Cash — at least until you hit the quarterly spending caps.

Bank of America Preferred Rewards

Bank of America provides Preferred Rewards members with a sweet deal that can make both cards more rewarding. Depending on your membership tier, you can earn a 25 percent, 50 percent or 75 percent more rewards on every purchase.

For the Unlimited Cash card, this means your 1.5 percent cash back rate could be boosted to 1.87 percent, 2.25 percent or 2.62 percent. With the Customized Cash card, your 3 percent category could earn 3.75 percent, 4.5 percent or 5.25 percent depending on your tier. The 2 percent category could earn 2.5 percent, 3 percent or 3.5 percent, whereas the 1 percent category could earn 1.25 percent, 1.5 percent or 1.75 percent.

However, while these cash back rates are phenomenal, the boosted rewards rates may be out of reach for most spenders. For example, to unlock the 75 percent cash back boost, you need to reach the Platinum Honors tier of membership — which requires maintaining an average daily cash balance of at least $100,000 over 3 months in eligible Bank of America or Merrill accounts.

Intro APR winner: Tie

Both cards offer the same 0 percent introductory APR for 15 billing cycles on purchases and balance transfers. After this introductory period ends , a variable APR of 19.24 percent to 29.24 percent kicks in. Note that balance transfers must be made within the first 60 days to qualify for this intro offer, and 3 percent balance transfer fee applies to each transaction (then 4% for future balance transfers).

Annual fee winner: Tie

Both the Customized Cash and Unlimited Cash offer the same attractive $0 annual fee. If you’re a rewards maximizer , you won’t have to worry about making up for the annual fee in rewards earnings.

Foreign transaction fee winner: Tie

Both cards charge a 3 percent foreign transaction fee , so they tie in this category.

Which card earns the most?

The amount of cash back you earn from either the Customized Cash Rewards card or the Unlimited Cash Rewards card depends on how you use them. Here are a couple of examples showing which card could potentially earn you more in cash back rewards:

Bank of America Unlimited Cash vs. Bank of America Customized Cash spending example

Let’s say you eat out frequently, so you select dining as your 3 percent rewards category on your Customized Cash card. During one quarter, you spend $1,500 at restaurants and $1,000 at grocery stores, maxing out your 3 percent and 2 percent rewards categories. You’ll earn $45 in cash back for your restaurant spending and $20 back for your grocery store spending, for a total of $65 in cash back.

With the Customized Cash, say you also spend $1,500 during that quarter on miscellaneous purchases. This will earn you 1 percent cash back, or $15 in rewards. That brings your total cash back to $80 for $4,000 in spending.

In comparison, let’s assume you spend the exact same amounts using the Unlimited Cash. Since this card earns a flat rate of 1.5 percent, you’d earn $60 back after spending $4,000 — making the Customized Cash the clear winner in this scenario.

Now let’s assume that you charge an additional $6,000 in expenses over the same quarter. Our chart will now look like this:

In this instance, the Customized Cash would only earn 1 percent on the additional purchases, no matter which categories they fell into. That would net you an additional $60 in cash back for a grand total of $140 in cash back for the quarter.

On the other hand, the Unlimited Cash card would continue earning 1.5 percent on all purchases — resulting in an additional $90 in cash back and a total of $150 for the quarter. So, in the second scenario, the Unlimited Cash would earn you more. Which card is right for you could simply come down to how much you tend to spend per quarter.

Bankrate’s take: Even better, you could combine the benefits of both cards to earn an even higher cash back amount, especially if you’re a Preferred Rewards member. By using the Customized Cash for bonus category purchases and the Unlimited Cash on all other purchases, you could earn considerably more cash back each quarter than by using a single card alone.

Why should you get the Bank of America Unlimited Cash?

Unlike the Customized Cash card, the Unlimited Cash card doesn’t restrict how much cash back you can earn on certain spending, so you don’t have to worry about switching to a more rewarding card after hitting a certain spending threshold. Here are some other reasons to get this card:

Additional benefits

The Unlimited Cash is eligible for the Museums on Us program, which gives you free access on the first weekend of the month to more than 225 museums and cultural institutions across the country. It also offers access to BankAmeriDeals, which features promotional cash back offers from rotating merchants.

Other Unlimited Cash benefits include Visa Signature perks like extended warranty coverage, travel and emergency assistance services and pay-per-use roadside dispatch.

Redemption options

Bank of America provides several ways to redeem cash rewards, including a direct deposit to your Bank of America checking or savings account, credit to an eligible Merrill account or a statement credit to your card.

Recommended credit score

Applicants with credit scores of at least 670 may qualify for this card.

Why should you get the Bank of America Customized Cash?

The flexibility of this card’s cash back program is difficult to beat . Many competitors’ cards offer high cash back rates for one or two preselected bonus categories, which can be useless if you don’t typically make those types of purchases. The Customized Cash Rewards card not only lets you choose your 3 percent category, but also lets you change it once per month. Some more reasons to choose this card include:

The Customized Cash comes with the same card benefits as the Unlimited Cash. These benefits include Visa Signature perks and access to Museums on Us and BankAmeriDeals.

Like the Unlimited Cash, you can redeem cash back for a statement credit, a direct deposit to a Bank of America account or a credit to an eligible Merrill account.

Applicants who are considering the Customized Cash should have a credit score of at least 670.

The bottom line

The Bank of America Unlimited Cash is as simple as it gets for a rewards card, but its flat rate doesn’t allow you to earn extra rewards in bonus categories. The Bank of America Customized Cash is more rewarding, but it has its limits. The better option for you depends on your spending habits and needs. You may even want to use these cards together, especially since neither imposes an annual fee.

In that case, use the Customized Cash for the 3 percent category that you spend the most in, and be sure to use the card at grocery stores and wholesale clubs. Then, use the Unlimited Cash for all other types of purchases and for category purchases after you reach the $2,500 quarterly limit.

The Bank of America content in this post was last updated on May 30, 2024.

bofa travel rewards vs unlimited cash rewards

Is the Bank of America Customized Cash Rewards credit card worth it?

Bank of America Customized Cash Rewards credit card review

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Bank of America preferred rewards

Rewards built around you.

Maximize your rewards earn with exclusive benefits.

Members of the award-winning Bank of America Preferred Rewards® program enjoy many exclusive benefits and pricing discounts, all designed around the ways you save, spend and borrow with Bank of America and invest with Merrill. 1 When your balances work together, you can maximize the rewards you earn.  On average, members increased their overall benefits to $500 a year. 2

Don't have a Bank of America checking account yet?

Open an account

*Other fees may apply. Sales of ETFs are subject to a transaction fee of between $0.01 and $0.03 per $1,000 of principal. There are costs associated with owning ETFs and mutual funds. To learn more about Merrill pricing, visit merrilledge.com/pricing .

It's so easy to be rewarded for what you already do

There's no fee to enroll or participate in Preferred Rewards. To become a member, you'll need:

Bank of America checking account

Must be an active, eligible account

$20K 3-month average combined balance Includes balances in your Bank of America deposit and/or Merrill investment accounts

Don’t have a Bank of America account yet?

Open a checking account

Manage all your rewards in one place with Bank of America My Rewards

Track your rewards, deals and benefits throughout the year

Explore what’s available and start redeeming

Discover additional benefits so you never have to miss out

Enroll in Preferred Rewards if you're eligible

Merrill Bull

Maximize with Merrill

Your Merrill investment accounts and Bank of America deposit balances both count towards helping to maximize the Bank of America Preferred Rewards benefits you could receive.

Awards and accolades 

Best Customer Loyalty Programs List 12

Best Bank Customer Loyalty Program 14

The Ascent (a Motley Fool service) 

Frequently asked questions

What is the Preferred Rewards program?

The Bank of America Preferred Rewards program offers real benefits and rewards on your everyday banking and investing. And as your qualifying Bank of America® deposit accounts and/or Merrill® investment balances grow, so do your benefits.

Your benefits are based on your tier, and your tier is based on the qualifying combined balances in your Bank of America deposit and/or Merrill investment accounts. Once you’re a Preferred Rewards member, you'll keep your program benefits for at least a full year, so no need to worry if your balances dip temporarily. In addition, your balances are reviewed monthly to see if you qualify for a higher tier. If so, you'll automatically move to the next level of rewards.

How do I qualify?

All you need to qualify is an eligible Bank of America® personal checking account and a three-month combined average daily balance of $20,000 or more in qualifying Bank of America deposit accounts and/or Merrill® investment accounts . Then you can enroll in the program.

Log in to Online Banking to see if you qualify

Are there any fees associated with the Preferred Rewards program?

No. There is no fee to join, no fee for ongoing participation, no fee to opt-out. There are no fees associated with Preferred Rewards.

What value of benefits could I potentially earn?

The value to you will be determined by all the ways you can utilize the various benefits. On average members increased their overall benefits to $500 a year with Preferred Rewards. For example, you could potentially benefit from interest rate discounts, credit card rewards bonuses, no-fee ATM transactions and Merrill Guided Investing Program discounts. To find out more, check out our Preferred Rewards calculator .

Do I have to enroll to become a Preferred Rewards member?

Yes, through Online Banking, but enrollment is simple. There are no fees to join or participate in Preferred Rewards. And once you're enrolled, as your balances qualify you for the next level of rewards, you'll receive an automatic tier upgrade.

Log in to Online Banking to get started

What happens if my program balance drops after I enroll in Preferred Rewards and I go into a grace status?

No need to worry if your balances dip temporarily; you'll keep your Preferred Rewards program status for a full year. If after a year you no longer meet the balance requirement, you'll get a three-month grace period. If you haven't met the balance requirement after those three months, you'll be moved to a lower tier or lose your Preferred Rewards benefits, if you no longer qualify.

If you meet the balance requirements again within 24 months after losing your benefits, we’ll automatically reinstate your Preferred Rewards membership. If you meet the requirements after 24 months, you’ll need to re-enroll in the program.

Learn more about how we calculate your balance and tier level

What is included in the no-fee banking services?

Here are some of the no-fee services that Preferred Rewards members are eligible for, based upon their tier:

  • Monthly maintenance fees are waived on checking and savings accounts, for up to four accounts for the Gold, Platinum and Platinum Honors tiers; unlimited number of accounts for Diamond tier
  • ATM/Debit card rush fees are waived for all Preferred Rewards tiers
  • Non-Bank of America ATM fees are waived for withdrawals, transfers at the Platinum tier and above – one per statement cycle for Platinum; and unlimited for Platinum Honors and Diamond tiers
  • ATM international transaction fees are waived for Diamond tier
  • Incoming domestic wire transfer fees are waived for all Preferred Rewards tiers
  • Outgoing wire transfer fees are waived (two per statement cycle), for Diamond tier
  • Stop payment fee is waived for all Preferred Rewards tiers
  • Small safe deposit box is available for Platinum tier and above

What is My Rewards?

My Rewards is where you can see the value of all your rewards in one convenient place , whether you’re in Online Banking or on the Bank of America Mobile Banking app. 15 It tracks your Preferred Rewards benefits, credit card rewards and BankAmeriDeals® 16 in a single location, so you can review at a glance and explore other available benefits that you may not be using. Your three-month average daily balance is also displayed in My Rewards.

Do I need to open new accounts to take advantage of Preferred Rewards benefits?

It depends on which accounts you already have. To become a Preferred Rewards member, you must have an active, eligible Bank of America® checking account. Once you enroll in Preferred Rewards, you can receive benefits on your existing eligible Bank of America banking and Merrill ® investing accounts.

To take advantage of some Preferred Rewards benefits, your existing accounts may require an account conversion, or you may want to open a new account to receive other program benefits. For example, for savings and credit card benefits, you'll need:

  • A Bank of America Advantage Savings account , to receive the savings interest rate booster 
  • An eligible Bank of America credit card , such as the Unlimited Cash Rewards, Customized Cash Rewards, Travel Rewards, or Premium Rewards® card, to receive the credit card rewards bonus 

Once you’re enrolled in Preferred Rewards, you can speak with a specialist to convert your existing savings account to a Bank of America Advantage Savings account or apply for a new credit card account that's eligible for the rewards bonus.

How can I move to a higher Preferred Rewards tier?

After you enroll, you can move to a higher Preferred Rewards tier — and enjoy more benefits and rewards — by increasing your qualifying Bank of America® deposit and/or Merrill® investment balances. Every month, we'll review your three-month average daily balance and if it’s high enough, you'll receive an automatic tier upgrade. To view your qualifying three-month combined average daily balance, log in to Online Banking or use our mobile app and go to My Rewards.

Here's an example:

You’ve been a Preferred Rewards Gold tier member for six months, with an average combined daily balance in your Bank of America and Merrill accounts of $30,000. If your average balance reached $60,000 in month seven and $90,000 in month eight, you’d qualify for the Platinum tier because your three-month average daily balance would be $60,000.*

30-60-90 tier up example

*Your tier upgrade may take a bit longer if there are other changes to your account.

What extra benefits are available in the Preferred Rewards Diamond tier?

Diamond tier members have access to a curated suite of luxury benefits and extraordinary experiences across dining, travel, culture, and more. For more details, review the exclusive benefits available to Diamond tier members.

How can Preferred Rewards help me earn more rewards on my Bank of America credit cards?

Once you’re a Preferred Rewards member, you’ll earn 25% to 75% more rewards on every purchase made with eligible Bank of America® credit cards. For example, a purchase that typically earns $1.00 in cash rewards will earn $1.25 to $1.75, depending on your Preferred Rewards tier. Bank of America credit cards offer many different benefits to enhance what matters most to you — from cash back to dining and travel rewards. Learn more about how Preferred Rewards can boost your credit card rewards .

When will my Preferred Rewards benefits become active?

Typically, Preferred Rewards benefits become active within 30 days of your enrollment. Some benefits are automatically activated upon the effective date of your enrollment, requiring no action on your part. If you’ve opened a new account and enroll in Preferred Rewards, your benefits will become active within 30 days of account opening, unless we indicate otherwise. Note that some rewards may require you to open a new account or take other action to enjoy the complete benefits.

How can I increase my balance in order to qualify for Preferred Rewards?

To meet the minimum $20,000 combined balance requirement, you can move money over from accounts at other banks or investment firms, such as 401(k) or IRA accounts, or perhaps a vacation or rainy-day fund.

Do I need to have a Bank of America® checking account to be a Preferred Rewards member?

Yes, to enroll in Preferred Rewards you’ll need an eligible Bank of America® personal checking account and a three-month combined average daily balance of $20,000 or more in eligible Bank of America deposit accounts and/or Merrill® investment accounts.

Can I enroll in Preferred Rewards now, even though I need to open a Bank of America® checking account and maintain the qualifying balance?

Yes, we offer early enrollment if you don’t currently have an eligible Bank of America® personal checking account (or haven’t had one in 12 months or more). You’ll need to open an eligible checking account, then you’ll have the option to enroll in Preferred Rewards. 

You must have the minimum combined balance of $20,000 in your eligible Bank of America deposit accounts and/or your Merrill® investment accounts within 30 days of opening the checking account. Once you meet the $20,000 balance requirement, you’ll be automatically enrolled in Preferred Rewards.

This means that you can enroll in the program early, before you’ve met the three-month combined average daily balance minimum requirement of $20,000.

How could having a Merrill® investment account help me get to a higher Preferred Rewards tier?

Merrill® investment account balances count toward Preferred Rewards tier balance requirements to help you make the most of all the program benefits and get to a higher tier.

How is Merrill related to Bank of America?

Merrill and Bank of America are both wholly-owned subsidiaries of Bank of America Corporation. The Bank of America Preferred Rewards program is designed to offer benefits based on the breadth of a client’s relationship with us, including the combined balances in their eligible Bank of America® deposit accounts and/or Merrill® investment accounts.

What types of auto loans are eligible to receive the Preferred Rewards auto loan interest rate discount?

The Preferred Rewards auto loan interest rate discount only applies to loan applications that you submit directly to Bank of America through its website, Financial Centers, or Bank call centers. Discounts are not available for motor vehicle leases or for applications sourced from car dealerships, car manufacturers, or third-party branded/co-branded relationships.

How can I earn rewards on my Bank of America® small business accounts?

With the Preferred Rewards for Business program, you can earn valuable benefits and rewards on your everyday business banking. As your qualifying Bank of America® business deposit accounts and/or Merrill® business investment balances grow, so do your benefits.

There are three tiers in the Preferred Rewards for Business program: Gold, Platinum and Platinum Honors. Your business may be eligible to enroll if it qualifies for one of these tiers based on the combined balances in your Bank of America business deposit accounts and/or Merrill business investment accounts. Compare rewards and benefits for business

Keep in mind that your Bank of America personal accounts are not eligible to receive Preferred Rewards for Business benefits.

Does Bank of America offer deals and rewards in addition to Preferred Rewards?

Deals and rewards, including rewards credit cards like the Customized Cash Rewards card, are available in addition to Preferred Rewards. To learn more visit Rewards Central .

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Small Business Credit Cards

Business Advantage Customized Cash Rewards Mastercard ® credit card No annual fee †

Business Advantage Customized Cash Rewards credit card

Online offer: $300 statement credit bonus, interest rates & fees summary †, introductory apr, standard aprs for purchases and balance transfers, balance transfer fee.

of each transaction (minimum $0) †

  • Earn 3% cash back in the category of your choice*, 2% cash back on dining purchases (for first $50,000 in those combined choice category/dining purchases each calendar year and 1% thereafter), and  1% cash back on all other purchases. OR Join Preferred Rewards for Business for no fee and earn up to 5.25% cash back in the category of your choice*, up to 3.5% cash back on dining purchases (for the first $50,000 in those combined choice category/dining purchases each calendar year), and up to an unlimited 1.75% cash back on all other purchases if you have a Bank of America ®  business checking account and qualify for Preferred Rewards for Business Platinum Honors tier. Learn more about  Preferred Rewards for Business  tiers and rewards. Calculate rewards . *Select categories include gas stations and electric vehicle (EV) charging stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services.
  • Choose how to redeem your cash rewards – as a deposit into your Bank of America ® checking or savings account, as a card statement credit or as a check mailed to you. Cash rewards don’t expire as long as your account remains open.
  • 0% †  Introductory APR on purchases for the first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 18.49% - 28.49% will apply.
  • This online only offer may not be available if you leave this page, if you visit a Bank of America financial center or call the bank. You can take advantage of this offer when you apply now.

† Terms & Conditions for Business Advantage Customized Cash Rewards Mastercard ® credit card

Business Advantage Unlimited Cash Rewards Mastercard ® credit card No annual fee †

Business Advantage Unlimited Cash Rewards credit card

  • Earn  unlimited 1.5% cash back , or join Preferred Rewards for Business for no fee , and earn up to an unlimited 2.62% cash back  on all purchases if you have a Bank of America ® business checking account and qualify for Preferred Rewards for Business Platinum Honors tier. Learn more about  Preferred Rewards for Business  tiers and bonus rewards. Calculate rewards .
  • Choose how to redeem your cash rewards – as a deposit into your Bank of America ® checking or savings account, as a card statement credit or as a check mailed to you.
  • 0% † introductory APR on purchases for the first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 18.49% - 28.49% will apply.

† Terms & Conditions for Business Advantage Unlimited Cash Rewards Mastercard ® credit card

Business Advantage Travel Rewards World Mastercard ® credit card No annual fee and no international transaction fees †

Business Advantage Travel Rewards credit card

Online offer: 30,000 bonus points, standard apr.

  • Earn  unlimited 1.5 points , or join Preferred Rewards for Business for no fee , and earn up to an unlimited 2.62 points for every $1 spent  on all purchases if you have a Bank of America® business checking account and qualify for Preferred Rewards for Business Platinum Honors tier. Learn more about  Preferred Rewards for Business  tiers and bonus rewards. Calculate rewards .
  • Redeem points for a statement credit to offset travel and dining purchases, travel with no blackout dates at the Bank of America ®  Travel Center, cash back or gift cards.

† Terms & Conditions for Business Advantage Travel Rewards World Mastercard ® credit card

Alaska Airlines Visa ® Business Card No international transaction fees and a low annual fee of $70 for the company and $25 per card †

Alaska Airlines Business credit card

50,000 bonus mile +  alaska's famous companion fare™ offer.

  • Get 50,000 bonus miles and Alaska's Famous Companion Fare™  ($99 fare plus taxes and fees from $23) after you make $3,000 or more in purchases within the first 90 days of opening your account.
  • Free checked bag for any cardholder and up to 6 guests on the same reservation when you pay for your flight with your card – that's a savings of $70 per person roundtrip ! Plus, Priority Boarding for any cardholder when paying for the flight with an Alaska Airlines Business card.
  • Earn 3 miles for every $1 spent on eligible Alaska Airlines purchases, 2 miles for every $1 spent on eligible gas, EV charging station, shipping and local transit (including rideshare) purchases, and 1 mile for every $1 spent on all other purchases. Plus, earn a 10% rewards bonus on all miles earned from card purchases if your company has an eligible Bank of America ® small business account.
  • Flexibility with no blackout dates on Alaska Airlines flights when booking with miles or companion fare. 
  • This online only offer may not be available elsewhere if you leave this page . You can take advantage of this offer when you apply now.

† Terms & Conditions for Alaska Airlines Visa ® Business Card

Platinum Plus ® Mastercard ®  Business card No annual fee †

Platinum Plus ® Mastercard ®  Business card

  • Save on interest with a competitive APR
  • 0% †  Introductory APR on purchases for the first 7 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.49% - 27.49% will apply.
  • Separate your business and personal expenses
  • Get employee cards at no additional cost to you and with credit limits you set
  • Mastercard Easy Saving® Program – No coupons. No codes. Just automatic rebates when you pay with your card at tens of thousands of locations across the U.S. To learn more about the Mastercard Easy Savings® rewards program and participating merchants visit: http://www.priceless.com/easysavings

† Terms & Conditions for Platinum Plus ® Mastercard ®  Business card

Business Advantage Unlimited Cash Rewards Mastercard ® Secured credit card No annual fee †

Business Advantage Unlimited Cash Rewards Mastercard ® Secured credit card

Help strengthen your business credit while earning unlimited cash back.

  • Open your account with a security deposit (minimum $1,000). Upon approval your credit line will be equal to your deposit amount.
  • Build up your credit history – with consistent, on-time payments, you could improve your business credit over time.
  • Seamless transition – we'll periodically review your account and if your overall credit history improves, you could transition to an unsecured card. Not all customers will qualify.
  • Earn 1.5% cash back on every purchase, every time. No annual cap and rewards don't expire as long as your account remains open.

† Terms & Conditions for Business Advantage Unlimited Cash Rewards Mastercard ® Secured credit card

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bofa travel rewards vs unlimited cash rewards

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bofa travel rewards vs unlimited cash rewards

Want even more rewards?

When you become a Preferred Rewards for Business Footnote [1] member, you can get up to 75% more rewards on every purchase you make.

bofa travel rewards vs unlimited cash rewards

Preferred Rewards for Business makes your credit card even better.

When you become a Preferred Rewards for Business member, you can get up to 75% more rewards on every purchase you make.

Learn more about Preferred Rewards for Business

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Why use a small business credit card instead of a personal card?

Separate your business finances.

Separating your finances draws a distinct line between your business and your personal life and makes managing your cash flow easier. Getting a credit card for business use is one way to make that distinction.

Start building credit for your business

Small business credit cards are an easy way to start building credit for your business – so you have the credit when you’re ready to take your business to the next level.

Maintain control over spending

Easily download your company's transactions to QuickBooks. Give cards to your employees and set individual limits to maintain more control over your employees' spending.

Keep your business humming

If you are looking for ease and convenience, small business credit cards are perfect for day-to-day purchases with the added perk of cash back rewards or travel rewards for most cards.

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bofa travel rewards vs unlimited cash rewards

Cash back vs. travel points: How to choose credit card rewards

Key takeaways.

  • Cash back credit cards are generally the better choice if you want to earn simple rewards on your regular purchases.
  • A points or miles card may be a better option if you travel often or want to start earning travel rewards on your purchases.
  • If neither option is the perfect fit, it may be worth trying out different credit card combinations and rewards structures to find what works best for you.

Rewards credit cards come in many forms. Some offer cash back, while others offer points or miles, and there can be potential benefits and downsides to both options. If you’re wondering which type of credit card rewards to choose, it helps to understand how these different card types work.

Cash back cards offer cash rewards as a percentage back on your purchases. These cards are often easy to use and primarily feature cash redemptions , though you may be able to choose additional options. Cards that offer points and miles typically have more flexible redemption options, though they’re often most valuable when redeemed for travel.

Used wisely, points and miles can go a long way to helping you save toward a coveted vacation. But the type of rewards credit card and rewards structure that’s best for you ultimately depends on your spending habits and lifestyle. We compare cash back versus travel rewards here and outline some of the pros and cons of different types of credit card rewards. This way, you can choose which type of rewards structure is best for your spending habits and lifestyle.

What to know about cash back rewards cards

In general, cash back is the better choice for simplicity seekers hoping to earn uncomplicated rewards on everyday purchases.

Cash back credit cards offer a percentage of cash back on each dollar you spend, with some cards offering a higher rate in select categories, like groceries or gas. Some cash back cards offer a flat 1.5 percent to 2 percent cash back for every purchase you make, while others offer higher bonus rewards — ranging from 3 percent to 5 percent back — in fixed or rotating categories .

Redemption flexibility

A major benefit of cash back cards is their flexibility when it comes to redeeming rewards. Depending on the cash back card you sign up for, you may be able to redeem your rewards for a check in the mail, a direct deposit or a statement credit to your account. Some of the best cash back cards let you cash in your rewards for gift cards, merchandise or travel rewards through your card’s travel portal, though the value for these options is often less.

Redemption value

Cash back credit cards tend to be a good value for consumers who rarely travel or prefer to save money along the way, rather than build toward a future experience. Cash back rewards are generally worth 1 cent each. For instance, a 2 percent cash back card can yield you $2 for every $100 you spend.

Pros and cons

Consider these advantages and disadvantages when comparing cash back cards to points and miles credit cards:

  • Earning and redeeming cash rewards is simple and quick.
  • Cash rewards value tends to be straightforward and can be easier to maximize .
  • There are many no-annual-fee cash back cards to choose from.
  • Cash back credit cards may offer hefty welcome bonuses.
  • Most cash back credit cards don’t come with notable travel benefits (but you may be able to earn rewards on certain types of travel purchases).
  • Rewards value for cash back cards can be weaker when compared to the best travel credit cards .
  • You may have limited redemption options — or no redemption options other than statement credits — depending on the card you choose.

What to know about points and miles cards

A points or miles card may be the better choice for those who travel often or wish to start earning travel rewards. Many types of rewards credit cards fall under the umbrella of “points and miles” cards . These cards include airline credit cards that let you earn frequent flyer miles in a specific frequent flyer program, and also flexible rewards cards that let you redeem points for travel in more than one way.

Points and miles cards also tend to come with useful travel benefits like airport lounge access, travel credits, application fee credits for Global Entry or TSA PreCheck or built-in travel insurance benefits — although cards with the strongest benefits tend to charge high annual fees.

Some of the best travel credit cards on the market today offer strong flexibility when it comes to redeeming your rewards. If you have a travel credit card that earns Chase Ultimate Rewards points, for example, you may be able to redeem your points for cash back, gift cards, statement credits, merchandise, travel through the Chase Ultimate Rewards portal or even 1:1 points transfers to Chase airline and hotel partners .

Travel rewards tend to be worth more than cash back, and some of the best travel rewards currencies can be worth up to 2 cents each or more . However, your redemption value depends on how you redeem your travel rewards .

For example, if you cash in flexible points for a statement credit to your account, you may only get 1 cent per point in value. But if you transfer your points to a high-value travel partner, your points could be boosted to 2 cents each or more. You may also get more than 1 cent per point in value if you redeem your points for travel through your issuer portal.

Here are some general advantages and disadvantages of choosing a points or miles card over a cash back card:

  • Travel rewards provide more value than cash back if you travel often.
  • Perks like priority boarding , free checked baggage , airport lounge access or free nights at hotels help you travel in style.
  • Many travel cards come with travel insurance and no foreign transaction fees .
  • Travel cards generally have higher rewards rates and higher welcome bonuses
  • Travel credit cards tend to have higher annual fees than cash back cards.
  • Points and miles credit cards typically require more effort than cash back cards when it comes to tracking your rewards and making sure you’re getting the best value out of them.
  • Airline credit cards and hotel credit cards often offer limited redemption options.

Which rewards are best for you?

When it comes to cash back versus points, it comes down to your spending habits and lifestyle. If you don’t travel much or care about using your rewards strategically toward lofty travel goals, you’re best suited for cash rewards.

You may want to opt for a flat-rate cash back card so you don’t need to keep up with rotating bonus categories or activating your rewards. No matter which type of cash back card you choose , this move will benefit you due to the sheer simplicity of earning rewards. And you’ll still get something back from your credit card spending, even if you don’t get the most value for your rewards.

If you get a rush out of turning $500 worth of credit card rewards into $750 or $1,000 worth of travel, then you’re a perfect candidate for a card that offers rewards in the form of points or miles. You’d benefit from a travel card that gives you plenty of options for boosted points or miles values and travel upgrades. If you travel throughout the year and want access to benefits to make air travel more comfortable, then an elite travel card may be an even better fit.

The bottom line

To determine whether a cash back, points or miles card is better for you, you’ll need to know what kind of cardholder you are and what type of rewards structure most closely matches your spending habits and lifestyle.

But it doesn’t necessarily come down to choosing between cash back vs. rewards. It’s not uncommon for cardholders to pair a few different credit cards to maximize their rewards , so trying out different credit card combinations and rewards structures could also be an option.

Cash back vs. travel points: How to choose credit card rewards

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Bank of America® Premium Rewards® Credit Card Review: Great for Travelers, Foodies and BoA Customers

The BofA Premium Rewards lets you earn 2X points on travel and dining, which can increase to 3.5X points depending on your Bank of America and Merrill account.

Credit card image

Updated: June 14, 2024

Advertising & Editorial Disclosure

MoneyGeek’s Take

  • Card Overview
  • Rewards Program
  • Comparing Cards
  • Best Card Pairing
  • Is It Right for You?

MoneyGeek partners with leading industry experts and advertisers to help you get to your financial happy place. Our content is accurate when posted but offers may change over time. We may receive compensation for partner advertisements, but our editorial team independently reviews and ranks products. Learn more about our editorial policies .

The Bank of America® Premium Rewards® credit card is a solid pick if you’re a frequent traveler who likes to dine out and enjoy carnivals, museums and other fun experiences. The card offers high rewards on travel and dining. You may earn bigger rewards if your account Bank of America (BoA) and/or Merrill is over $20,000. Despite having an annual fee and a high credit score requirement, it is still a strong travel card due to its sign-up bonus, travel perks and consistent points value.

Credit Card logo for Bank of America® Premium Rewards® credit card

  • MoneyGeek's Take
  • Pros & Cons
  • Card Details

BofA Premium Rewards Overview

The BofA Premium Rewards caters to those who frequently spend on travel and dining, offering two points per dollar spent in these categories. All other purchases get 1.5X points. Unlike other travel cards, which reduce the value of your points when redeemed for non-travel purposes, redeeming points is more flexible with the BofA Premium Rewards — one point is always worth one cent.

The card becomes more appealing for Bank of America Preferred Rewards members, who can earn 25% to 75% more points on every purchase. To qualify, the deposit on your BoA and/or Merrill account must be at least $20,000.

The BofA Premium Rewards also comes with travel perks and a generous sign-up bonus worth $600, which requires a $4,000 spend in 90 days. However, it may not be a fit if you’re looking for a no-annual-fee card or your credit is below good to excellent.

>> MORE: MoneyGeek's Best Travel Credit Cards

Bofa premium rewards card details, rewards program overview.

The BofA Premium Rewards lets you earn unlimited two points per dollar on travel and dining purchases. For all other spending, you earn 1.5 points per dollar.

Under the travel category, Bank of America includes airlines, hotels, rental cars, taxi, bus, ferries, tolls, art galleries, amusement parks and more. Meanwhile, the dining category includes restaurants, fast food and drinking establishments.

Bank of America and Merrill customers have special rewards opportunities. They can receive a 25% to 75% bonus on points earned, depending on their account balances:

When it comes to redemption, BofA Premium Rewards is more flexible than other travel cards. Points can be redeemed as gift cards, travel, statement credit and account deposits, all at a consistent value of one cent per point. Points don’t expire as long as your account is active. You can redeem points by using Bank of America’s app or directly in its travel portal.

Why You Might Want This Card

The BofA Premium Rewards is a great pick if you often travel and eat out. It offers big rewards in these categories and comes with relevant perks.

High Travel and Dining Rewards

All your travel and dining purchases earn two points for every dollar spent. Notably, Bank of America has a broad definition of travel expenses. Beyond the usual airlines, hotels and rental cars, travel includes transportation expenses and entrance fees for art galleries, amusement parks and carnivals.

Generous Sign-Up Bonus

The BofA Premium Rewards lets you earn 60,000 bonus points (equal to $600) after spending $4,000 within 90 days from account opening. Unlike other travel cards, you have flexible options and consistency when redeeming points, so you can treat this bonus as a 15% discount.

Bonus for BoA and Merrill Customers

If you're a Preferred Rewards member, you may get a rewards boost of up to 75%, significantly increasing the points you earn. This feature can make your travel and dining rewards rate 3.5 points per dollar.

No Foreign Transaction Fees

This card eliminates foreign transaction fees, saving you money on international expenses.

Why You Might Want a Different Card

The BofA Premium Rewards is a solid travel and dining card. However, consider these factors before you get the card:

The card has a $95 annual fee. To cover the fee, you need to spend at least $4,750 per year on travel and dining expenses. The Chase Freedom Unlimited® offers high rewards on travel and dining without the annual fee.

Credit Requirements

Like other travel cards, this card requires applicants to have good to excellent credit. If you’re still working on your credit, consider getting a cash back card or a card for fair credit .

Rewards Boost Deposit

You’ll need a substantial balance in a BoA or Merrill account to qualify for Preferred Rewards and access the higher rates. Existing customers could easily satisfy this requirement, but it could be a considerable adjustment for those who do their banking elsewhere. If you’re looking for big travel rewards, the Capital One Venture Rewards Credit Card offers 5X points on travel booked through Capital One Travel.

How BofA Premium Rewards Compares

We compare the BofA Premium Rewards with similar cards to help you decide if it's the right card for you.

Bank of America® Premium Rewards® vs. Chase Freedom Unlimited®

The Chase Freedom Unlimited® lets you earn 5% cash back on travel purchases using Chase Travel, 3% on dining and drugstores and 1.5% on all other purchases. This card doesn’t have an annual fee, making it a great alternative for travel and dining rewards without an additional yearly cost.

Credit Card logo for Chase Freedom Unlimited®

Bank of America® Premium Rewards® vs. Capital One Venture Rewards Credit Card

The Venture card offers 5X points for hotels and rental cars booked through Capital One Travel and 2X points on all other purchases. It also comes with a 75,000 sign-up bonus (worth $750), which is higher than what you get with the BofA Premium Rewards. With the same $95 annual fee, the Venture card is a versatile travel card for non-BoA customers.

Credit Card logo for Capital One Venture Rewards Credit Card

Card to Pair With the BofA Premium Rewards

If you want to maximize your rewards, pair the BofA Premium Rewards with a card that offers high rewards on uncovered categories.

For example, the Blue Cash Everyday® Card from American Express is a no-annual-fee card with 3% cash back on U.S. supermarkets, gas stations and retail. Pairing these two cards could cover various spending categories, ensuring you earn high rewards on your purchases.

Is BofA Premium Rewards Right for You?

The BofA Premium Rewards is great for frequent travelers and diners looking for a no-fuss card to earn rewards on their purchases. If you're a Bank of America or Merrill customer with a substantial deposit, the additional rewards boost could make this card particularly lucrative.

However, if you have a limited budget for travel and dining or the $95 annual fee seems steep relative to your expected rewards, you might want to consider other options. This card is most rewarding for those who can effectively leverage its high earning potential and redeem points.

For other options beyond the BofA Premium Rewards, explore our ranking of the best travel credit cards to help you find one that matches your spending habits and lifestyle.

How We Evaluated the BofA Premium Rewards

In evaluating the BofA Premium Rewards, MoneyGeek considered various features important to cash back cardholders. Our evaluation process included 60 cards and considered the following factors, from highest to lowest percentage:

  • Effective Reward Rate (50%): High cash back value per dollar.
  • Annual Fee (10%): No cost for card ownership.
  • Offer Return on Investment (10%): Excellent introductory offer value.
  • Intro Purchase (5%): Long-term 0% APR on purchases.
  • Recommended Credit (5%): Broad credit score accessibility.
  • Issuer Satisfaction (5%): Exceptional customer service.
  • Penalties (5%): No penalty rates or fees.
  • Regular APR (5%): Low ongoing interest rate.
  • Foreign Transaction (5%): No fees on international transactions.

About Doug Milnes, CFA

Doug Milnes, CFA headshot

Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.

Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.

  • American Express . " Blue Cash Everyday® Card ." Accessed June 7, 2024 .
  • Bank of America . " Bank of America® Premium Rewards® Credit Card ." Accessed June 7, 2024 .
  • Capital One . " Venture Rewards Travel Card ." Accessed June 7, 2024 .
  • Chase . " Chase Freedom Unlimited Credit Card ." Accessed June 7, 2024 .
  • Ink Business Preferred® Credit Card
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Best Business Credit Cards of June 2024

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate credit cards to write unbiased product reviews .

The information for the following product(s) has been collected independently by Business Insider: Capital One Spark Miles Select for Business†, U.S. Bank Business Triple Cash Rewards World Elite Mastercard®, Capital One Spark 1% Classic†, Chase Freedom Flex℠, Capital One Spark Miles for Business†. The details for these products have not been reviewed or provided by the issuer.

Introduction to Business Credit Cards

Business credit cards can completely transform your perspective on company expenses. Every dollar spent on business necessities can earn rewards toward a well-deserved vacation or extra cash in the bank. Better yet, the best business credit cards offer benefits that can add a layer of protection for valuable company assets. 

Our expert recommendations evaluate the best business credit cards so you can find the option that best fits your spending style, rewards preferences, and financial goals. 

Compare the Top Business Credit Cards

Chase Ink Business Preferred® Credit Card

Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases.

21.24% - 26.24% Variable

Earn 100,000 bonus points

Good to Excellent

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. High sign-up bonus
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers 3x bonus points on several spending categories, including travel and advertising purchases
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Includes comprehensive travel coverage
  • con icon Two crossed lines that form an 'X'. Welcome bonus has a very high minimum spending requirement

The Ink Business Preferred® Credit Card offers a huge welcome bonus and solid earning and benefits for a moderate annual fee. If your small-business expenses line up with the card's bonus categories and you like redeeming Chase Ultimate Rewards® points for travel, this is one of the best small-business credit cards to consider.

  • Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Travel℠
  • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
  • Round-the-clock monitoring for unusual credit card purchases
  • With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
  • Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
  • Points are worth 25% more when you redeem for travel through Chase Travel℠
  • Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
  • Member FDIC

American Express The Business Platinum Card® from American Express

Earn 5X Membership Rewards® points on flights and prepaid hotels on AmexTravel.com. Earn 1.5X points on each eligible purchase at shipping providers, US construction material, hardware suppliers, electronic goods retailers, and software & cloud system providers, as well as on purchases of $5,000 or more everywhere else (on up to $2 million per calendar year). Earn 1X points for each dollar you spend on other eligible purchases.

19.49% - 28.49% Variable

Earn 150,000 Membership Rewards® points

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. More travel benefits than you'll find on any other business credit card
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Generous airport lounge access options, from American Express Centurion Lounges to Priority Pass (enrollment required)
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Complimentary hotel elite status (enrollment required)
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Access to Amex concierge services
  • con icon Two crossed lines that form an 'X'. Very high annual fee
  • con icon Two crossed lines that form an 'X'. Limited opportunities to earn bonus points
  • con icon Two crossed lines that form an 'X'. Annual statement credits won't be useful for everyone

The Business Platinum Card® from American Express is one of the best small-business cards with an elevated bonus and top-notch benefits (and a premium annual fee to match). It's an excellent offer if you like earning Membership Rewards points and you can maximize the bonus spending categories and perks — but be sure to assess whether the annual fee is worth it for you before you commit.

  • Welcome Offer: Earn 150,000 Membership Rewards® points after you spend $20,000 in eligible purchases on the Card within the first 3 months of Card Membership.
  • 5X Membership Rewards® points on flights and prepaid hotels on AmexTravel.com, and 1X points for each dollar you spend on eligible purchases.
  • Earn 1.5X points (that’s an extra half point per dollar) on each eligible purchase at US construction material, hardware suppliers, electronic goods retailers, and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
  • Unlock over $1,000 in statement credits on select purchases, including tech, recruiting and wireless in the first year of membership with the Business Platinum Card®. Enrollment required. See how you can unlock over $1,000 annually in credits on select purchases with the Business Platinum Card®, here.
  • $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to the Card.
  • $189 CLEAR® Plus Credit: Use your card and get up to $189 in statement credits per calendar year on your CLEAR® Plus Membership (subject to auto-renewal) when you use the Business Platinum Card®.
  • The American Express Global Lounge Collection® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market as of 03/2023.
  • $695 Annual Fee.
  • Terms Apply.

American Express The American Express Blue Business Cash™ Card

Earn 2% cash back on everyday eligible business purchases (on up to $50,000 per year in purchases, then 1%). Earn 1% cash back on all other purchases.

0% intro APR on purchases for 12 months from account opening

18.49% - 26.49% Variable

Earn a $250 statement credit

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Good choice for earning 2% cash back on all your eligible purchases up to $50,000 a year
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Intro APR offer
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No annual fee
  • con icon Two crossed lines that form an 'X'. If your business spends more than $50,000 a year, you'll want to use a different card to earn bonus cash back once you meet that threshold

If you're spending money on your business anyway, you should be rewarded for those purchases by using one of the best small-business credit cards. With The American Express Blue Business Cash™ Card, you can earn unlimited cash back on your spending with no annual fee.

  • Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
  • 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.49% - 26.49%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
  • Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
  • From workflow to inventory to floor plans, your business is constantly changing. That's why you've got the power to spend beyond your credit limit with Expanded Buying Power.
  • Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
  • No Annual Fee
  • Terms Apply

Chase Ink Business Unlimited® Credit Card

Earn unlimited 1.5% cash back on purchases.

0% intro APR on purchases for the first 12 months

18.49% - 24.49% Variable

Earn $750 bonus cash back

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Earns 1.5% cash back on every purchase, with no bonus categories to keep track of
  • con icon Two crossed lines that form an 'X'. You can earn more cash back on some purchases with a card that has bonus categories

The Ink Business Unlimited® Credit Card is a great option for small business owners who prefer a straightforward earning rate and no annual fee. You'll earn 1.5% cash back on every purchase, and there's no limit to what you can earn.

  • Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase made for your business
  • Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
  • Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
  • 0% introductory APR for 12 months on purchases

American Express The Blue Business® Plus Credit Card from American Express

Earn 2x Membership Rewards® Points on everyday eligible business purchases (on up to $50,000 per year in purchases, then 1X). Earn 1x Membership Rewards® Points on all other purchases.

0% intro APR on purchases for the first 12 months from account opening

Earn 15,000 Membership Rewards® points

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. The rare no-annual-fee card to earn Amex Membership Rewards points
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Solid earning rate on the first $50,000 in purchases each year
  • con icon Two crossed lines that form an 'X'. For spending above $50,000 each year, you will only earn 1 point per dollar

If you're a small-business owner looking for a credit card that offers flexible rewards points without paying an annual fee, The Blue Business® Plus Credit Card from American Express is an excellent option. You don't need to own a full-time business to be eligible to apply, either — even freelancers and those with side gigs can qualify for a small-business card.

  • Earn 15,000 Membership Rewards® points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership.
  • 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.49% - 26.49%, based on your creditworthiness and other factors at account opening. APR will not exceed 29.99%
  • Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
  • You've got the power to use your Card beyond its credit limit* with Expanded Buying Power.
  • *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors.

Capital One Capital One Spark Miles Select for Business†

Earn unlimited 5X miles on hotels and rental cars booked through Capital One Travel. Earn unlimited 1.5X miles on every purchase, with no restrictions or blackout dates.

17.99% - 23.99% variable APR

Earn 50,000 miles

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Generous welcome bonus offer
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Earn flexible rewards you can transfer to airline and hotel partners
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No annual fee or foreign transaction fees
  • con icon Two crossed lines that form an 'X'. Few travel benefits typical of other travel cards
  • con icon Two crossed lines that form an 'X'. No intro APR offer
  • con icon Two crossed lines that form an 'X'. Some small-business credit cards offer higher earning rates with no annual fee

Small-business owners who want to earn credit card rewards for free travel should consider the Capital One Spark Miles Select for Business. It's offering an excellent welcome bonus for a no-annual-fee business credit card, and you can transfer the miles it earns to over a dozen airline and hotel partners.

American Express American Express® Business Gold Card

Earn 4x Membership Rewards® Points on the first $150,000 spent each calendar year in combined purchases from the top 2 business categories where your business spent the most each billing cycle (then 1x points per dollar). Earn 3x Membership Rewards® points on flights and prepaid hotels booked on amextravel.com. Earn 1x Membership Rewards® Points on all other purchases.

Earn 70,000 Membership Rewards® points

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. You can bonus points on the categories where you make the most purchases (from a list of options)
  • con icon Two crossed lines that form an 'X'. High annual fee

The American Express® Business Gold Card is a good choice if your business spends a lot in certain categories and you want to earn Membership Rewards points for travel or other redemptions. It's got a high annual fee, but if you can use the card's benefits to your advantage, it can be well worth it.

  • Welcome Offer: Earn 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.*
  • Earn 4X Membership Rewards® points on the 2 categories where your business spends the most each billing cycle from 6 eligible categories. While your top 2 categories may change, you will earn 4X points on the first $150,000 in combined purchases from these categories each calendar year (then 1X thereafter). Only the top 2 categories each billing cycle will count towards the $150,000 cap.
  • Earn 3X Membership Rewards® points on flights and prepaid hotels booked on amextravel.com using your Business Gold Card.
  • Earn up to $20 in statement credits monthly after you use the Business Gold Card for eligible U.S. purchases at FedEx, Grubhub, and Office Supply Stores. This can be an annual savings of up to $240. Enrollment required.
  • Get up to a $12.95** statement credit back each month after you pay for a monthly Walmart+ membership (subject to auto-renewal) with your Business Gold Card. **Up to $12.95 plus applicable taxes on one membership fee.
  • Your Card – Your Choice. Choose from Gold or Rose Gold.
  • *Terms Apply

Chase Ink Business Cash® Credit Card

Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases.

Earn up to $750 bonus cash back

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Broad 5% and 2% cash-back categories (you can earn bonus cash back at office supply stores and at gas stations and restaurants)
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Intro APR offer for purchases
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. You can pair this card with a card that earns Ultimate Rewards to redeem your cash back for travel
  • con icon Two crossed lines that form an 'X'. Annual cap on bonus categories

Between offering a big welcome bonus, extra rewards in useful categories, and ongoing benefits like primary car rental insurance and purchase protection, the Ink Business Cash® Credit Card is an excellent no-annual-fee cash-back business credit card for small-business owners.

  • Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening
  • Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
  • Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
  • 10% Business Relationship Bonus If you have the Ink Business Cash card plus a Chase Business Checking account on your first card anniversary

U.S. Bank U.S. Bank Business Triple Cash Rewards World Elite Mastercard®

Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center. Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants. 1% cash back on all other eligible net purchases.

0% intro APR on purchases and balance transfers for 15 billing cycles

19.24% - 28.24% Variable

$500 cash back

Excellent/Good

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Strong welcome bonus and bonus categories for a no-annual-fee card
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Introductory 0% APR on both purchases and balance transfers for 15 billing cycles
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. World Elite Mastercard benefits including cell phone protection
  • con icon Two crossed lines that form an 'X'. Foreign transaction fees
  • con icon Two crossed lines that form an 'X'. Relatively high minimum spending requirement to unlock bonus
  • con icon Two crossed lines that form an 'X'. Authorized user purchases don’t count toward minimum spending requirement

The U.S. Bank Business Triple Cash Rewards World Elite Mastercard® is a no-annual-fee card for small business owners with a generous welcome bonus and great bonus categories. It's a good pick if you prefer earning straight cash back, especially if you can use the $100 annual software credit.

Capital One®️ Capital One Spark 1% Classic†

Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel. Earn unlimited 1% cash back on every purchase for your business with no limits or category restrictions.

30.49% Variable

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Travel and purchase protection
  • con icon Two crossed lines that form an 'X'. Some other business cards offer better rewards
  • con icon Two crossed lines that form an 'X'. No welcome bonus

Whether you have a new business or just don't have a ton of credit history, the Capital One Spark 1% Classic could be a good stepping stone. It's possible to get approved for the card with just fair credit, whereas most other business cards that earn rewards require a good or even excellent credit score.

These are the best business credit cards available this month, as chosen by Business Insider's personal finance experts. 

  • Ink Business Preferred® Credit Card: Best intro bonus offer
  • The Business Platinum Card® from American Express Best for premium travel perks
  • The American Express Blue Business Cash™ Card: Best flat-rate cash back with no annual fee
  • Ink Business Unlimited® Credit Card: Best for maximizing cash back
  • The Blue Business® Plus Credit Card from American Express: Best for travel rewards with no annual fee
  • Capital One Spark Miles Select for Business† : Best for flat rate miles with no annual fee 
  • American Express® Business Gold Card: Best for big spenders
  • Ink Business Cash® Credit Card: Best for office supplies and wireless
  • U.S. Bank Business Triple Cash Rewards World Elite Mastercard®  : Best rewards card with a generous intro 0% APR offer
  • Capital One Spark 1% Classic† : Best for fair credit

Best Business Credit Card Reviews

The best business credit cards for small business owners offer generous rewards on common business expenses, travel and purchase protections and benefits, and other perks that make your busy life a little bit easier. Some of them come with annual fees, but many other great candidates do not, giving you plenty of options. 

Each of the cards in this guide has been chosen for unique benefits that are valuable beyond standard requirements, such as generous reward rates or 0% introductory APR period. These are the best business credit cards of 2024, as chosen by Business Insider's team of credit card experts. 

Best Intro Bonus Offer: Ink Business Preferred® Credit Card

The Ink Business Preferred® Credit Card is an ideal option if you're looking to earn valuable, flexible rewards points on your business spending through the Chase Ultimate Rewards® program. If you already have one of the popular Chase cards that earn these rewards — like the Chase Sapphire Preferred® Card or Chase Sapphire Reserve® — you'll earn even more by adding this card to your wallet.

This card consistently offers a generous welcome bonus, although the high spending requirement on this offer may be hard for smaller businesses to meet. 

Like the Sapphire cards mentioned above, the Ink Business Preferred® Credit Card earns Chase Ultimate Rewards points. You can either keep the rewards you earn on your Ink card separate from the rest of your Ultimate Rewards stash, or you can transfer the points to your personal credit cards. These points can be traded for cash back or transferred to frequent flyer and hotel loyalty partners.

If you transfer your Ultimate Rewards points to a personal card to purchase travel through Chase, you can get a 25% bonus if you use your personal Chase Sapphire Preferred® Card, or a 50% bonus if you move your Ink points to your Ink Business Preferred® Credit Card. 

What our experts love: Generous welcome offer, cellphone protection, and great rewards on travel, shipping, and advertising spend.

What our experts don't love: This card has an annual fee, which may deter business owners who don't want to pay money to hold a credit card. 

Read our Chase Ink Business Preferred card review to learn more about this card. 

Best for Premium Travel Perks: The Business Platinum Card® from American Express

The Business Platinum Card® from American Express is the business version of American Express' famed The Platinum Card® from American Express, and it used to be our pick for the top business card.

But since then, this card's annual fee has since increased, and it's become a bit more of a niche product. The Business Platinum Card® from American Express is potentially useful for mid-sized businesses that spend a lot on flights and travel, but less valuable for sole proprietors and very small operations.

The Business Platinum card added new benefits, including new 1.5x earning categories on eligible purchases at U.S. construction material & hardware suppliers, electronic goods retailers, software and cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year as well as annual statement credits for wireless, Indeed, Adobe purchases, and Dell**. 

You'll get lots of perks with this card including generous statement credits, plus 5x Amex Membership Rewards points on airfare and prepaid hotels when you book through American Express Travel . However, the annual fee of The Business Platinum Card® from American Express is quite steep, and smaller companies may struggle to meet the spending requirement for the welcome bonus. 

Read our Amex Business Platinum card review to learn more about this card.

Best for Flat Rate Cash Back with No Annual Fee: The American Express Blue Business Cash™ Card

The American Express Blue Business Cash™ Card is a good choice if you prefer straightforward cash-back earning without having to worry about keeping track of bonus categories. Business Insider considers it to be the best 2% cash back credit card for small business owners.

With this card, you earn 2% cash back on all eligible purchases, on the first $50,000 spent per calendar year, then 1% back (cash back is received in the form of Reward Dollars). 

For small businesses with big expenses on the horizon, there's a 0% intro APR on purchases for 12 months from account opening (then a 18.49% - 26.49% Variable APR) that can help you save some money on interest, as well. New cardholders can also earn $250 statement credit after you make $3,000 in purchases on your card in your first three months of account opening.

Read our Amex Blue Business Cash card review to learn more about this card.

Best for Maximizing Cash Back: Ink Business Unlimited® Credit Card

The Ink Business Unlimited® Credit Card is a simple one at first glance, earning unlimited 1.5% cash back. However, just like the consumer Chase Freedom Flex℠ and Chase Freedom Unlimited® cards, the Ink Business Unlimited® Credit Card has a trick up its sleeve.

Although the card is marketed as "cash back," it earns Chase Ultimate Rewards points that you can redeem for cash (1 point = 1 cent). That means that you can combine the points earned from the Ink Business Unlimited® Credit Card with the ones you earn from cards like the Ink Business Preferred® Credit Card, or the personal Chase Sapphire Reserve® or Chase Sapphire Preferred® Card, and either earn a bonus when you redeem them for travel through Chase, or transfer them to travel partners. When those points are combined onto an Ink Business Preferred® Credit Card, you'll get a guaranteed 1.5–3 points per dollar spent.

The card also offers a 0% intro APR on purchases for the first 12 months on purchases, followed by a 18.49% - 24.49% Variable APR, so it's a good choice if you have expenses coming up that you want to spread out over time.

What the experts love: The welcome bonus offer is especially impressive for a no-annual-fee card.

What the experts don't love:  This card isn't as valuable on its own — you need to hold another Chase card to maximize your rewards.

Read our  Chase Ink Business Unlimited Credit Card review to learn more about this card.

Best for Travel Rewards with No Annual Fee: The Blue Business® Plus Credit Card from American Express

It's a rare points-earning business card that doesn't charge an annual fee. But with The Blue Business® Plus Credit Card from American Express, you'll earn 2 points per dollar on the first $50,000 you spend each calendar year, without any bonus categories you need to track. 

According to Business Insider's points and miles valuations, Amex points are worth 1.8 cents apiece on average, so you're getting a 3.6% return on all your business spending up to $50,000 each year.

The card is currently offering 15,000 Membership Rewards® points after you spend $3,000 in eligible purchases on the card within your first three months of card membership.

What the experts love:  2x points on up to $50,000 spent per year (then 1x), with no annual fee. 

What the experts don't love: The welcome bonus is meager compared to many other cards. 

Read our  Amex Blue Business Plus credit card review  to learn more about this card.

Best for Flat Rate Miles with No Annual Fee: Capital One Spark Miles Select for Business†

The Capital One Spark Miles Select for Business† recently increased its welcome bonus to 50,000 miles after spending $4,500 on purchases within the first three months from account opening. That's a rare deal from a no-annual-fee business card, and more than double the usual offer.

Cardholders earn 1.5 miles per dollar on purchases (except hotels and car rentals booked through Capital One Travel, which earn 5 miles per dollar). There are no pesky foreign transaction fees to worry about, and you'll get a few travel benefits, including roadside assistance and secondary car rental insurance.

The redemption options on this card are similar to that of its big sibling, the Capital One Spark Miles for Business† . Based on Business Insider's valuations, you can expect to get around $850 in travel from this card's bonus.

What the experts love:  A strong welcome bonus and earning for no annual fee make the card an affordable entry point if you're interested in earning credit card rewards for travel.

What the experts don't love: Light on benefits compared to other travel credit cards, no intro APR offer.

Read our Capital One Spark Miles Select for Business review to learn more about this card.

Best for Big Spenders: American Express® Business Gold Card

If you don't want to pay the higher annual fee of The Business Platinum Card® from American Express, the American Express® Business Gold Card is a good alternative. And depending on your spending habits, the Business Gold could be a more rewarding choice, thanks to the ability to earn 4x points on popular business spending categories on the first $150,000 in combined purchases each calendar year in the two select categories where your business spent the most each month; then 1x. 

Eligible 4x categories are:

  • U.S. gas stations
  • U.S. restaurants (including takeout and delivery)
  • U.S. wireless telephone service provider 
  • U.S. purchases made from electronic goods retailers and software & cloud system providers 
  • U.S. purchases for advertising in select media (online, TV, radio)
  • Transit purchases including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways 

This card currently comes with a big welcome offer of 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases within the first three months of card membership (worth $1,260 based on Business Insider's valuations). Cardholders also receive a decent selection of travel and shopping perks.

What the experts love:  High level of customization when it comes to where you earn the most rewards 

What the experts don't love: This card is the only premium Amex card that doesn't offer a statement credit to offset the annual fee.

Read our Amex Business Gold Card review  to learn more about this card.

Best for Office Supplies and Wireless Expenses: Ink Business Cash® Credit Card

The Ink Business Cash® Credit Card is another solid Chase entry. Just like with the Ink Business Unlimited® Credit Card, you can pool the "cash" you earn with points from a points-earning card, effectively converting your cash into (potentially) more valuable points.

The Ink Business Cash® Credit Card is an especially good option if you can maximize its bonus categories, including office supply stores, internet, cable, and restaurants, among others. The card earns 5% cash back (5x points) at office supply stores and on internet, cable, and phone services, and 2% cash back (2x points) at gas stations and restaurants. You'll earn 5% and 2% in these categories on the first $25,000 in combined purchases each account anniversary year (then 1%), and 1% cash back (1 point per dollar) on all other purchases with no caps.

New cardholders can also take advantage of a 0% intro APR on purchases for the first 12 months (then a 18.49% - 24.49% Variable APR), making this card a good choice for big purchases you want to pay off over several months.

What the experts love:  No annual fee, you can earn up to 5% cash back 

What the experts don't love:  Not the best option if you don't spend a lot within the 5% cash-back categories

Read our Chase Ink Business Cash credit card review  to learn more about this card.

Best Rewards Card with Generous 0% Intro APR: U.S. Bank Business Triple Cash Rewards World Elite Mastercard

If you're looking for a rewards-earning business card with a generous 0% APR on both purchases and balance transfers, the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® is an excellent choice, and the best U.S. Bank credit card for small-business owners. Cardholders receive a 0% intro APR on purchases and balance transfers for 15 billing cycles, followed by a 19.24% - 28.24% Variable APR, which is very uncommon on business cards.

The card's welcome offer and earnings aren't anything to sniff at, either. New cardholders can earn $500 cash back after spending $4,500 on purchases on the account holder's card in the first 150 days of opening your account (authorized user purchases won't count, however).

You'll also earn 5% cash back on prepaid hotels and car rentals booked through the U..S Bank Rewards Center, 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers, and restaurants, and 1% cash back on all other eligible purchases.

Another unique feature of the card is an annual $100 statement credit for recurring software subscription expenses like FreshBooks or QuickBooks. If you already subscribe to these services, the statement credit is a nice bonus — and it's particularly unusual for a no-annual-fee card.

What the experts love: Long intro APR on purchases and balance transfers, good bonus and earning rates, software subscription statement credit

What the experts don't love: Foreign transaction fees

Read our  U.S. Bank Triple Cash Rewards card review to learn more about this card.

Best for Fair Credit: Capital One Spark 1% Classic†

Whether you have a new business or just don't have a ton of credit history, the Capital One Spark 1% Classic† could be a good stepping stone. It's possible to get approved for the card with just fair credit , whereas most other business cards that earn rewards require a good or even excellent credit score.

The card offers 1% cash back on all purchases, which isn't spectacular, but as a starter business card, it's not bad. There are no annual fees or foreign transaction fees, and employee cards are free to add (you'll earn rewards for their purchases, too).

You'll also receive a handful of good benefits, including secondary car rental insurance, purchase protection against damage or theft, extended warranty on eligible items, and travel and emergency assistance services.

What the experts love: You only need fair credit to be considered for approval, decent benefits for a starter card, no foreign transaction fees or annual fee

What the experts don't love:  Card only earns 1% cash back across the board, no welcome bonus offer

Learn more about this card in our review of the Capital One Spark Classic for Business . 

Business Credit Card Frequently Asked Questions

While personal credit cards are intended for any type of purchase, business credit cards are targeted toward business owners. That doesn't mean you need a large established company to apply for a business credit card. In fact, you can may qualify for a business card as long as you meet the bank's application requirements, even if you just resell household items on eBay or operate a small home baking business. 

It's easier to qualify for a business credit card than you may think. If you do any freelancing or a side gig, such as driving for Uber or selling items on eBay, you can typically qualify for a business credit card as a sole proprietor. In this case, you are personally on the hook for your business' debts.

You can apply for a business card using your Social Security number if you're a sole proprietor. You should put down your legal name as the business name. If you have a business with employees, you'll need to answer questions about your business size, type, and revenue, in addition to providing your SSN and your EIN (if requested).

With a business credit card, the primary cardholder is responsible for the debts on the card and for any fees that are incurred. A corporate card is issued by a company to its employees, and the company is responsible for paying that card.

Why You Should Trust Us: How We Chose the Best Business Credit Cards

Business Insider evaluated dozens of business credit cards that are currently open to new applicants, including several no-annual-fee business cards . We narrowed the list down based on the following criteria:

  • Sign-up bonus — Does the card offer a valuable welcome bonus offer to new cardholders who meet a minimum spending requirement?
  • Ongoing rewards — Beyond the welcome bonus offer, does the card offer a competitive rate of points or cash back on purchases?
  • Other features — Does the card come with any additional benefits, such as travel protection, free employee cards, cell phone insurance, or primary car rental insurance?
  • Annual fee — If the card has an annual fee, does it offer enough benefits to justify it?

Read more about how we rate credit cards at Business Insider.

bofa travel rewards vs unlimited cash rewards

***Terms, conditions, and exclusions apply. Refer to your Guide to Benefits for more details. Travel Accident Insurance is not guaranteed, it depends on the level of benefits you get at application.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply

For rates and fees of The Business Platinum Card® from American Express, please click here.

For rates and fees of The Blue Business® Plus Credit Card from American Express, please click here.

For rates and fees of the American Express Blue Business Cash™ Card, please click here.

For rates and fees of the American Express® Business Gold Card, please click here.

bofa travel rewards vs unlimited cash rewards

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  1. Bank of America Travel Rewards credit card vs. Bank of America

    bofa travel rewards vs unlimited cash rewards

  2. BofA Unlimited Cash Rewards v Customized Cash Rewards v Travel Rewards v BankAmericard🔶CREDIT S3•E20

    bofa travel rewards vs unlimited cash rewards

  3. Bank of America® Unlimited Cash Rewards credit card Reviews 2022

    bofa travel rewards vs unlimited cash rewards

  4. Bank of America Travel Rewards Credit Card Review

    bofa travel rewards vs unlimited cash rewards

  5. New BofA Business Card Launched Today with $500 Bonus

    bofa travel rewards vs unlimited cash rewards

  6. Bank of America® Unlimited Cash Rewards Credit Card for Students Review

    bofa travel rewards vs unlimited cash rewards

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  2. The 3-Tier Credit Card Rewards System--How I've saved nearly $30,000 from credit cards

  3. Bank of America® Business Advantage Customized Cash Rewards credit card

  4. New Bank of America Unlimited Cash Rewards

  5. Capital One Quicksilver Cash Rewards VS SavorOne vs Platinum Mastercard

  6. The BEST Method to Product Change Bank of America Credit Cards

COMMENTS

  1. Bank of America Unlimited Cash Rewards vs. Travel Rewards

    Compare 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 rewards. The Bank of America Unlimited Cash Rewards is a cashback credit card while the Bank of America Travel Rewards earns points.

  2. Bank of America Travel Rewards credit card vs. Bank of America

    The Bank of America content was last updated on Jan. 24, 2022. Bank of America takes customer loyalty to the next level with two credit cards that reward you for your spending habits and sprinkle in unique benefits you don't often see elsewhere. Both the Bank of America® Travel Rewards credit card and Bank of America® Customized Cash Rewards credit card come with better rewards rates than ...

  3. Bank of America® Travel Rewards vs. Bank of America® Unlimited Cash

    Bank of America® Travel Rewards vs. Bank of America® Unlimited Cash Rewards Credit Card Although both offer no annual fee, the Bank of America® Unlimited Cash Rewards credit card outshines Bank of America® Travel Rewards because of its higher effective reward rate and cash back on all purchases.

  4. Thoughts on BoA Unlimited Cash Rewards vs Travel Rewards?

    The Travel Rewards likely has a minimum redemption amount similar to the Premium Rewards card (2,500 pts or $25), which also earns points, not cash back. The main advantage of the Travel Rewards card I see is the no foreign transaction fee, which is a pretty good offer on a no annual fee, especially one that offers very good earnings rewards.

  5. Bank of America Unlimited Cash Rewards Review: Decent Rate, Intro APR

    Rewards rate. 1.5%. Bonus offer. $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening. Intro APR. 0% intro APR on Purchases for 15 ...

  6. Bank of America Travel Rewards vs Cash Rewards Card

    With the Bank of America Travel Rewards card, you will get 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - which can be redeemed for a $250 statement credit toward travel purchases. For the cash rewards card, you will get $200 cash rewards bonus after making at least $1,000 in ...

  7. Benefits of the Bank of America Unlimited Cash Rewards

    1. 1.5% back on everything. Using the Bank of America® Unlimited Cash Rewards credit card, you'll earn an unlimited 1.5% cash back on everything. Some flat-rate credit cards earn 2% back or ...

  8. Bank Of America Unlimited Cash Rewards Credit Card Review 2024

    Introduction. The Bank of America® Unlimited Cash Rewards credit card is simple: The card earns 1.5% unlimited cash back on all purchases, redeemable as a credit card statement credit or a ...

  9. Bank of America Travel Rewards Review: Easy Rewards for ...

    The Bank of America® Travel Rewards credit card is a good choice for someone looking for simple rewards with a $0 annual fee. Cards with annual fees, however, typically offer more robust rewards ...

  10. Bank of America Unlimited Cash Rewards card Review: Pros, Cons, and

    The Bank of America® Unlimited Cash Rewards credit card has a competitive intro-APR offer that gives you 15 billing cycles of 0% interest on purchases. (Then the go-to 19.24% - 29.24% (Variable ...

  11. Travel Credit Cards with Travel Rewards from Bank of America

    Earn unlimited points, that don't expire as long as the account remains open - 2 points for every $1 spent on travel and dining purchases and 1.5 points per $1 on all other purchases. Calculate Rewards. Premium Rewards. Get up to $200 in combined Airline Incidental and TSA PreCheck®/Global Entry Statement Credits.

  12. Earn unlimited cash back: Bank of America Unlimited Cash Rewards credit

    The Bank of America® Unlimited Cash Rewards credit card offers simplified rewards where you'll earn 1.5% cash back on all purchases, with no annual fee. The card — and cash back — can become quite lucrative for anyone with a significant banking or investing relationship with Bank of America. Card Rating*: ⭐⭐⭐½.

  13. Bank of America® Unlimited Cash Rewards Credit Card

    Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of BofA Corp. Investment products: With Bank of America's® Unlimited Cash Rewards credit card, earn unlimited 1.5% cash back on all purchases, plus get a $200 online cash rewards bonus offer.

  14. Bank of America Launches New Unlimited Cash Rewards Credit Card

    The Unlimited Cash Rewards card has no annual fee. Earn Even More with Preferred Rewards - Members of Bank of America's Preferred Rewards program earn 25% to 75% more cash back on every purchase made with the Unlimited Cash Rewards card, depending on their rewards tier. That means the unlimited 1.5% cash back on all purchases could increase ...

  15. Bank of America Unlimited Cash Rewards benefits guide

    75%. 2.62%. As you can see, qualifying for the Platinum Honors tier allows you to earn the maximum cash back rate of 2.62 percent with the Bank of America Unlimited Cash Rewards card. At that rate ...

  16. Bank of America® Unlimited Cash Rewards credit card review

    This exclusive Bank of America perk can boost your Unlimited Cash Rewards card's flat rate by up to 2.62 percent. This increased rate would make the Unlimited Cash Rewards card not just one of ...

  17. Bank Of America Unlimited Cash Rewards credit card Review 2024

    For new cardholders, it offers a $200 cash rewards bonus after spending $500 in purchases in the first three months of account opening. The Active Cash also comes with a 0% intro APR for the first ...

  18. Bank of America Secured Travel Rewards Credit Card Review 2024

    Rewards earned from the Bank of America® Travel Rewards Secured Credit Card * can be redeemed for travel or dining in the form of statement credits or as cash back starting at 2,500 points ...

  19. Another new premium travel card just hit the market

    Platinum Honors: $100,000 or more in total assets. (NEW) Diamond: $1 million or more in total assets. (NEW) Diamond Honors: $10 million or more in total assets. Preferred Rewards members earn a 25%, 50% or 75% rewards bonus on select Bank of America cards, including this new Premium Rewards Elite card. Spend categories.

  20. 14 Best Travel Credit Cards of June 2024

    Why we chose it: The Bank of America® Travel Rewards Credit Card is an easy-to-use card best suited for travel reward beginners or those who are already Bank of America customers. Some cardholders can earn up to 75% more points if they are Bank of America Preferred Rewards members — that's up to 2.62 points for every dollar spent.

  21. Bank of America Unlimited Cash Rewards vs Chase Freedom Unlimited 2024

    Based on identical spending inputs, you'll earn $180.00 cash back per year with Bank of America Unlimited Cash Rewards and $208.80 with Chase Freedom Unlimited. For context, the average annual rewards payout from the cashback credit cards in the investor.com database is $181.73. The annual rewards payout assumes you charge $1,000 each month ...

  22. Bank of America Premium Rewards vs. Bank of America Travel ...

    Earn 25,000 online bonus points ($250 statement credit value toward travel purchases) after spending $1,000 within 90 days of account opening. Rewards rate. 2X points on travel and dining ...

  23. Bank of America Unlimited Cash vs. Bank of America Customized Cash Rewards

    That brings your total cash back to $80 for $4,000 in spending. In comparison, let's assume you spend the exact same amounts using the Unlimited Cash. Since this card earns a flat rate of 1.5 ...

  24. Bank of America Preferred Rewards

    Members of the award-winning Bank of America Preferred Rewards® program enjoy many exclusive benefits and pricing discounts, all designed around the ways you save, spend and borrow with Bank of America and invest with Merrill. 1 When your balances work together, you can maximize the rewards you earn. On average, members increased their overall ...

  25. Best Cash Back Credit Cards of June 2024

    The Capital One SavorOne Cash Rewards Credit Card also offers 5% cash back on hotels and car rentals booked through the Capital One Travel portal. Through November 14, 2024, the Capital One ...

  26. Small Business Credit Cards from Bank of America

    Online offer: $300 statement credit bonus. Earn 3% cash back in the category of your choice*, 2% cash back on dining purchases (for first $50,000 in those combined choice category/dining purchases each calendar year and 1% thereafter), and 1% cash back on all other purchases. OR. Join Preferred Rewards for Business for no fee and earn up to 5. ...

  27. Cash back vs. travel points: How to choose credit card rewards

    Travel rewards tend to be worth more than cash back, and some of the best travel rewards currencies can be worth up to 2 cents each or more. However, your redemption value depends on how you ...

  28. Bank of America® Premium Rewards® Credit Card Review ...

    The card becomes more appealing for Bank of America Preferred Rewards members, who can earn 25% to 75% more points on every purchase. To qualify, the deposit on your BoA and/or Merrill account must be at least $20,000. The BofA Premium Rewards also comes with travel perks and a generous sign-up bonus worth $600, which requires a $4,000 spend in ...

  29. Best Business Credit Cards of June 2024

    American Express® Business Gold Card: Best for big spenders. Ink Business Cash® Credit Card: Best for office supplies and wireless. U.S. Bank Business Triple Cash Rewards World Elite Mastercard ...

  30. Best Limited Time Credit Card Offers To Grab This June

    The welcome bonus on the Bank of America® Premium Rewards® credit card puts other cash-back credit cards to shame. New card members can earn 60,000 online bonus points after spending $4,000 in ...