Bank of America Travel Rewards Rental Car Insurance – Good Idea or a Waste of Money?

 

Bank of America travel rewards are not just for their business travel program. The bank offers many other travel rewards including travel insurance, travel and resort deals, travel incentives and travel savings programs. Bank of America travel rewards are one way they help you save money when you travel to or from the United States. Here are some of the travel rewards that you may be eligible to receive.

If you travel frequently to U.S. cities such as New York, Chicago, St. Louis and Los Angeles you can earn up to a 10% discount on your auto rental or car insurance rates with your bank. You can visit the bank’s website to learn more about their travel rewards programs. Bank of America is not the only bank that offers this great deal. Visit any bank that offers travel rewards to see if they also offer car insurance. Many times you can enjoy an even greater discount on both your travel insurance rates and your rental car expenses when you use the same bank for both purposes.

Travel rewards can also be enjoyed through the use of your debit/cancellation card. When you travel and use your debit card, Bank of America will issue you a prepaid credit card upon your arrival at your destination. You can use this card for purchases at any of their retail outlets including partner hotels and resorts.

An additional way to receive rewards with Bank of America travel rewards cards is to enroll in their employee travel program. Like their other travel cards, this one allows you to register for travel points when you make eligible purchases. Once you reach a particular dollar amount, you may choose to redeem your travel points for a free trip, night in a luxury hotel or airline tickets, gift cards and more. This is referred to as earning airline miles. They have a particular program called Platinum Card which currently offers no annual fee, unlimited air travel for an entire family member and frequent traveller benefits.

As with the other travel rewards programs offered by Bank of America, you are able to choose from a variety of destinations. This includes everything from the sunny Caribbean to snowy mountains. The options are almost unlimited so whether you are interested in taking a cruise to South America or flying to Brazil, Bank of America has a destination that will meet your needs. The travel credit card comes with a 10% off the regular purchase APR for up to twelve months after your account is opened and active, as well as a complementary two weeks of travel insurance that can be used when you book your travel plans.

You can use your Bank of America travel rewards card for business travel or for personal travel either. For example, if you travel extensively in business class, you may wish to consider getting this type of insurance as well. It is completely separate from the card’s benefits. If you travel frequently on business class flights, getting this type of insurance is a great option since it can save you a lot of money on your next flight if anything were to happen to your card. The coverage offered varies and you will want to read through all the details and policies before making any decisions.

All Bank of America travel rewards programs come with terms and conditions regarding use and restrictions. For example, the frequent traveller program will limit the number of nights you can stay at any one hotel for each travel period. Many people like this benefit since they do not plan on taking a lot of vacations or staying in hotels a lot. However, some people prefer to get this added benefit so they do not have to worry about being limited in their travel plans.

One thing that you need to be aware of is that most banks will not let you get away with the annual fee waived. This means that you will end up paying an extra fee in order to get all those travel rewards. Also keep in mind that the bank of america travel rewards cards are not meant to replace travel insurance. If you do not have travel insurance you may find that the rewards program will not be very useful to you. Make sure that you take out travel insurance if you do travel extensively and often.