Bank of America Maintains Free Spirit Card Usage, Sees Tariffs Capped at 6-8%
Bank of America said Free Spirit Travel and World Elite card accounts remain active for purchases but no longer earn airline points while new applications are paused as holders transition to other products. The bank forecasts U.S. midterm elections could cap tariffs at 6-8% under Sections 232 and 301.
1. Free Spirit Card Account Status
Bank of America confirmed that all existing Free Spirit Travel Mastercard and Free Spirit Travel More World Elite Mastercard accounts remain open and active. Cardholders can continue making purchases normally, but these transactions will not generate points in the now-defunct airline loyalty program.
2. Transition Options for Cardholders
The bank has suspended acceptance of new Spirit card applications and will reach out to existing holders about eligibility to transition to other Bank of America credit products, potentially including cash-back or travel rewards cards. No immediate action is required from cardholders until targeted communications are issued.
3. Tariff Outlook and Potential Impact
On the macro side, Bank of America’s research team projects that upcoming U.S. midterm elections could lead to less aggressive tariff policy, with Section 122 levies expiring in July and Sections 232 and 301 tariffs expected to stabilize at 6-8%. This outlook could reduce trade-related revenue volatility for the bank’s underwriting and trading divisions.