BankAmericard Travel Rewards
Annual fee: None
APR: 0% for first 12 months, 15.24-23.24% after that (variable with market rate)
Best perk(s): Twenty thousand bonus points if you make at least $1,000 in purchases in the first 90 days -- that's a $200 statement credit toward travel purchases
Red flags: By sacrificing the annual fee, you're also sacrificing the higher earning potential of cards that do charge one
Who's this card good for: Definitely Bank of America customers, but also low spenders and new credit card holders looking to get some sort of return on their credit usage
There are a few ways in which the BankAmericard Travel Rewards card has a leg up on its competition. For starters, there's no annual fee. Plus you only need to spend $1,000 in the first 90 days rather than $3,000-$4,000 to get the introductory bonus points, which is great for low spenders; if you're somebody who's likely to hit that $3,000-$4,000 mark, however, you'll score much higher returns with other cards. Cardholders earn 1.5 points on every $1 spent and it is all redeemed through statement credits -- so there's no restrictions, no blackout dates, no organizing your trips around what you're able to redeem; you just redeem points for a statement credit on flights, hotels, vacation packages, cruises, rental cars, baggage fees, etc.