Verdict
This card is best-suited for cruise enthusiasts whose perfect vacation is a getaway on Royal Caribbean Cruise Lines. The variable APR of 11.24 % for people with excellent credit is a great offer, but the introductory APR range ends at 23.24%, which isn’t very good at all.
The introductory APR of 1.99 % is only available on balance transfers and direct deposits and it lasts for only seven months — not a great value. Similar cards offer 0 % APR for the first year.
The benefits are also not destined to impress. One expects travel-related benefits such as travel insurance on a travel credit card, and I find no mention of these in the card’s promotional material. Certainly, better credit cards exist for people with good to excellent credit looking for travel rewards; I’m not impressed.
It’s worth mentioning that this card didn’t do well in other consumer reviews; people said points were hard to redeem and the customer service wasn’t what they expected.
Overview
This card is a travel rewards Visa card issued by Bank of America and available at different interest rates for people with good to excellent credit. As a card holder, you’ll gain access to Bank of America’s online banking center to pay your credit card bill, as well as 24/7 online customer support.
You’ll start out with 10,000 bonus rewards points after your first transaction, and earn 1 point for every dollar spent on every purchase after that. Purchases through Royal Caribbean International let you earn double points. There is no annual fee.
How this Card Works
This card is a Platinum Plus Visa card issued by Bank of America that can be used for purchases, balance transfers, and cash advances in the form of access checks. Additionally, if you have a Bank of America checking account, you can link your credit card to your checking account for overdraft protection. (Providing your credit card account is in good standing and you have the funds available on your credit card.)
You can use the convenience checks included when you receive your card to make direct deposits into your checking count at the introductory balance transfer APR of 1.99 %.
You’ll earn rewards points every time you use the card for purchases. You can then redeem your points for Royal Caribbean perks such as onboard credits, stateroom upgrades, discounts, free cruises and more.
Fees
This card has no annual fee. The fee for balance transfers or for direct deposits into your checking account or for “access checks” is 4 % of the transaction, with a minimum fee of $10.
Rewards
The rewards program for the Royal Caribbean Platinum Plus Visa uses “Royal Points,” redeemable for:
- onboard credits on Royal Caribbean cruises
- stateroom upgrades
- discounts
- free cruises
You earn 2 Royal Points for each dollar in qualifying Royal Caribbean International purchases and one Royal Point on all other net retail purchases. You’ll begin with 10,000 Bonus Royal Points after your first qualifying transaction, which includes a purchase, balance transfer or cash advance transaction made no later than the closing date of the second complete billing cycle.
You can begin redeeming points after you’ve earned 10,000, which includes the bonus points. You can start earning rewards fairly quickly thanks to the bonus points but, after that, it may take some users a while to reach enough points to redeem their second set. Royal Points expire 60 months (five years) from when they are earned.
There are limits on the points you can earn and redeem:
- Earn up to 250,000 points per year
- Redeem up to 1,250,000 points over 5 years
Benefits
Some benefits come standard with all Bank of America credit cards, including:
- Total Security Protection package, which protects you against fraudulent charge
- Free access to Bank of America’s Online Banking service
- Use your credit card for optional overdraft protection on your Bank of America checking account
Bottom Line
Pros:
- No annual fee
- 11.24 % variable APR for applicants with excellent credit
- Can use your credit card for overdraft protection on your Bank of America checking account
- Fraud protection
Cons:
- 1.99 % APR for the first seven months on balance transfers only
- Expiration date on rewards points
- Limited opportunities to earn double rewards
- After initial 10,000 bonus points, you do not receive rewards points on balance transfers – only purchases
- Limit to rewards points you can earn and redeem
- Need 10,000 points to redeem rewards
Alternatives:
If you are looking for a travel rewards credit card that will not restrict you to one cruise line, check out our Guide to Top Travel Rewards Cards.
