Free Spirit® Travel Mastercard® from Bank of America Review

When it comes to travel rewards credit cards, the Free Spirit® Travel Mastercard® from Bank of America stands out in several key areas. This card is designed for those who frequently fly with Spirit Airlines, offering a range of benefits and rewards structured around Spirit purchases and general spending. As a financial expert with years of experience in credit card analysis, I will provide a detailed review to help you understand whether this card fits your needs.

Free Spirit® Travel Mastercard® from Bank of America Key Takeaways

Before diving into the specifics, here are some quick takeaways:
– Annual Fee: $0
– APR: 20.24% – 28.24% Variable for purchases and balance transfers
– Sign-Up Bonus: 10,000 bonus points after spending $500 in the first 90 days
– Ongoing Rewards: 2x points on eligible Spirit purchases, 1x points on all other purchases
– Anniversary Bonus: 5,000 bonus points after making $10,000 in purchases within the prior anniversary year
– Additional Perks: 25% rebate on inflight food and beverage purchases, Zone 2 Shortcut Boarding on all flights

Free Spirit® Travel Mastercard® from Bank of America Pros and Cons

Pros:

1. No Annual Fee: One of the most attractive features is the $0 annual fee, making it cost-effective to maintain the card year-round.
2. No Foreign Transaction Fees: This is particularly beneficial for international travelers.
3. Generous Sign-Up Bonus: Earn 10,000 bonus points after spending $500 in the first 90 days.
4. Anniversary Bonus: Receive 5,000 bonus points each anniversary after spending $10,000 within the year.
5. Inflight Rebates: Get a 25% rebate on inflight food and beverage purchases.
6. Shortcut Boarding: Enjoy Zone 2 boarding on all Spirit Airlines flights.

Cons:

1. High APR: With a variable APR ranging from 20.24% to 28.24%, carrying a balance could be costly.
2. Limited Reward Categories: Higher rewards are only earned on Spirit purchases, making it less versatile for non-Spirit expenses.
3. No Intro APR: Unlike some other cards, there is no introductory APR period for purchases or balance transfers.
4. Good Credit Requirement: You need a credit score in the “Good” range (670-739) to be approved.

Free Spirit® Travel Mastercard® from Bank of America Benefits

Rewards Structure

The Free Spirit® Travel Mastercard® offers a straightforward rewards structure:
– 2x Points: Earn 2 points per dollar on eligible Spirit purchases.
– 1x Points: Earn 1 point per dollar on all other purchases.

Sign-Up Bonus

New cardholders can earn 10,000 bonus points after spending $500 within the first 90 days. This is a relatively low spending threshold, making it accessible for many consumers.

Anniversary Bonus

One of the unique features of this card is the anniversary bonus. Earn 5,000 bonus points each year after making at least $10,000 in purchases within the prior anniversary year. This encourages long-term usage and rewards loyalty.

Travel Perks

1. Zone 2 Shortcut Boarding: Cardholders enjoy expedited boarding on all Spirit Airlines flights, which can make the travel experience more convenient.
2. Inflight Rebates: Receive a 25% rebate on all inflight food and beverage purchases when using the card.

Fees and Rates

– Annual Fee: $0
– Foreign Transaction Fees: None
– APR: 20.24% – 28.24% Variable for purchases and balance transfers
– Balance Transfer Fee: Either $10 or 3% of the amount of each transaction, whichever is greater
– Cash Advance Fee: Either $10 or 3% of the amount of each transaction, whichever is greater
– Penalty Fees: Up to $40 for late payments; penalty APR up to 29.99%

Additional Benefits

– Payment Flexibility: No annual fee and no foreign transaction fees increase the card’s flexibility.
– Good Credit Requirement: Requires a good credit score for approval, ensuring that cardholders are generally financially responsible.

Conclusion

The Free Spirit® Travel Mastercard® from Bank of America offers a compelling package for those who frequently fly with Spirit Airlines. With no annual fee and a straightforward rewards structure, it provides an accessible entry point to earning travel rewards. The card’s key strengths lie in its generous sign-up and anniversary bonuses, along with valuable travel perks such as Zone 2 Shortcut Boarding and inflight purchase rebates.
However, the high variable APR and limited reward categories may not make it the best choice for everyone. If you frequently carry a balance or spend significantly outside of Spirit Airlines, you might want to consider other options. Overall, this card is a solid choice for loyal Spirit Airlines customers looking to maximize their travel benefits without incurring an annual fee.
In summary, the Free Spirit® Travel Mastercard® from Bank of America is an excellent card for its target audience. It offers valuable rewards and benefits tailored to frequent Spirit flyers, providing a cost-effective way to enhance your travel experience.