Bank of America is a well-known financial institution with millions of domestic and international customers. It is a credible bank and offers several facilities to the customers, such as net banking, issuance of debit and credit cards etc.
Bank of America offers many high-value credit cards to its customers. These credit cards come with multiple options and rewarding criteria. The creditworthiness of the customer decides their limits. They provide additional benefits through reward points, rewards, and rebates. Using a Bank of America Credit Card abroad is very easy. The best credit cards issued by the Bank of America are given in the following way:
Bank of America Travel Rewards Credit Card:
This card is best for planning vacations and holidays.
Bank of America Customized Cash Rewards Credit Card:
This card is the best for those customers who want to collect reward points and redeem them to purchase their favourite goods and services. The bank credits the reward points after every transaction. Customers can redeem these points and buy coupons and other gift hampers.
Bank of America Business Advantage Customized Cash Rewards Mastercard:
This card is the best for receiving cashback and offers after the transaction value crosses a given threshold.
Bank of America Premium Rewards Card:
This card is suitable for frequent travellers, allowing lounge access and free travel vouchers.
Customers can choose a suitable credit card category after evaluating their spending habits. If the customers frequently travel, then any credit card category with travel-oriented benefits will be suitable.
On the other hand, if the customers want to reduce the burden of their debt, then they can look forward to applying for a low-interest credit card.
After taking note of these credit cards, many customers ask, “Can I use Bank of America Credit Card internationally?” To answer this question, it is necessary to go through the terms and conditions of these credit cards as the customer agrees.
The Bank of America credit card can be used to settle international transactions. Customers can travel with their credit cards to any country to shop and travel. However, the bank charges transaction fees and exchange rate charges to settle all the transactions.
Does Bank of America charge foreign transaction fees?
The bank imposes transaction charges and fees whenever a customer uses his Bank of America credit card abroad. It is around 3% of the value of the transaction. However, this fee is different for different types of cards.
All the Customized Cash Rewards Cards, Customized Cash Rewards Secured Credit Cards, Unlimited Cash Rewards Cards, Susan G. Komen Cash Rewards Cards, Cash Rewards for Students Cards And Unlimited Cash Rewards For Students Cards And Cash Rewards For Students Cards impose a charge of 3% on the customers on every transaction settled internationally.
However, the bank offers certain credit cards with no foreign transaction fee. This gives the freedom to the customers to spend care-free and easily.
These cards include the Bank of America Travel Rewards Card, Bank of America Premium Rewards Card, Free Spirit Travel World Elite Credit Cards, Allegiant World Credit Cards, Alaska Airlines Visa Card and Bank of America Premium Rewards Elite Card.
What is the Bank of America’s International ATM fees?
Bank of America is known for its extensive network of ATMs in over 16,000 locations worldwide. This bank charges a fee of USD 5 at all the ATMs outside the United States of America. Some recipient banks for which the transaction fees can be more than 3%. However,
if the receiving bank is a partner of the Bank of America, then no transaction fees are charged. Hence, can I use a Bank of America Credit Card internationally? is easily answered.
Important points to using Bank of America Credit Cards
Bank of America credit cards are the easiest ways to pay abroad. It is a smart decision to carry your credit cards wherever you go. However, one can strike a profitable deal when the unnecessary transaction fee is avoided.
Here are some important points you must remember during your international trip to make it comforting and hassle-free. For using a Bank of America Credit Card abroad, remember to:
● Always inform your bank about the destination you are travelling to. This is the best way to prevent the flagging of your transactions.
● Always understand the criteria of the bank to levy the transaction fee. Also, read the instructions on the ATMs to ensure no additional charges are imposed.
● Also use Visa and Mastercard branded cards. They are easily acceptable worldwide.
● Ensure that your bank has your correct phone number to contact you.
● Always know the exchange rate that your card uses.
Therefore, customers must be very careful before applying for a card. They have to personally check and securitize the terms and conditions of the credit agreement in detail so they do not miss any clause. They can negotiate the terms with the bank as well.