Hi everyone, I’m a college student with a poor credit score. I travel frequently and therefore was told to apply for the BofA Travel Rewards card instead of the Cash Rewards card. Should I apply? What are the pros and cons?
You typically will need a good credit score, or a cosigner with a good credit score to qualify for the BofA Travel Rewards student card. It might still be worth it to apply because the rewards are solid. You receive a flat-rate of 1.5x points on all purchases, which can save you the hassle of researching which categories to spend on. There also is a generous welcome bonus, no annual fee, and no foreign transaction fee.
On the other hand, the BofA Cash Rewards Student card is probably the card for you. You really do not need a credit score to qualify for this card, and you will receive 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs, 1% cash back on any other purchases. These are solid rewards at no annual fee, and there is a $200 welcome bonus, if you spend $1000 within 90 days of account opening.
Overall, I would probably recommend the Cash Rewards card because it is easier to acquire. You can read more about the two cards at the links below.