Bank of America introduced a new VISA card Thursday offering travel rewards ranging from car rentals to hotel accommodations to airline tickets. Cardholders earn one point for each dollar charged, or for balance transfers, and may earn up to a 60,000 point annual cap. Redemptions start as low as 4,000 points for a free on-day car rental. Domestic airline tickets require 25,000 points. The card carries a $25 annual fee and an interest rate of prime +9.99%. BoA is marketing the card, on a limited basis, in Oregon, Nevada and San Diego.
Bank of America Thursday announced a new VISA credit card that offers a variety of free travel rewards, including airline tickets, hotel accommodations, vacation packages, cruises, weekend getaways and car rentals.
Called Travel Choices, the new card enables cardholders to earn one point for every dollar in purchases charged, including points for balances transferred from other cards.
“We designed the new Travel Choices VISA card to provide customers with a wide range of travel benefits and choices,” said Stephen B. Galasso, president and chief executive officer of the bank’s credit card subsidiary, Bank of America NA. “With travel rewards that start as low as 4,000 points, our customers will be able to take advantage of more affordable vacations.”
Bank of America is introducing the new Travel Choices card on a limited basis through applications in Oregon, Nevada and San Diego, with plans to expand the card to other markets beginning next year. The bank is also testing the card through direct-mail solicitations.
For as little as 4,000 points, cardholders earn a free one-day car rental from Hertz or Alamo Rent A Car.
Rewards for free hotel stays range from 5,000 points for one night at Marriott Fairfield Inns to 10,000 points for free weekend nights at Marriott Hotels and Resorts, Courtyard by Marriott or Residence Inns.
Airline rewards range from 25,000 points for a free ticket on flights within the continental United States to 50,000 points for a free ticket to Europe. All airline travel is booked on major U.S. airlines.
At 5,000 points, cardholders can earn a free cruise for any third or fourth person on Royal Caribbean Cruise Line or up to two children free with two paying adults on Carnival Cruise Lines. Accumulating 40,000 points earns a free three-night cruise for two on Carnival Cruise Lines, Norwegian Cruise Line or Royal Caribbean Cruise Line.
Cardholders can earn up to a maximum of 60,000 points annually and simply call a toll-free number to redeem rewards. In addition, cardholders receive $150,000 of free travel accident insurance.
The introductory rate on the new Travel Choices card is a fixed rate of 9.9 percent APR for the first six months from the date the account is opened, after which the rate is adjusted quarterly based on the Wall Street Journal prime rate plus 9.99 percentage points. The annual fee for the card is $25.
Consumers may call 800/349-BofA (800/349-2632) to receive or complete an application for the Travel Choices card.