Bank of America® Business Advantage Travel Rewards World Mastercard® credit card Review

Bank of America® Business Advantage Travel Rewards World Mastercard® credit card Review

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is an excellent travel card, offering a solid 3 points for every $1 spent for travel booked through the Bank of America® Travel Center and 1.5 rewards points for every $1 on all purchases However, what makes these point values even more impressive is the fact that this card has a $0 annual fee. Despite not having an annual fee, the point system rivals those of luxury travel cards and other general rewards cards.

Looking at the Numbers

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card serves the role of a travel card excellently. You will be able to earn 3 points for every $1 spent for travel booked through the Bank of America® Travel Center and 1.5 rewards points for every $1 on all purchases Therefore, not only will it serve as a great travel card, but it will also function as a solid all-around rewards card given its consistent points rate across all categories. The following fees are associated with the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card: an annual fee of $0 and no foreign transaction fee.

The card also provides you with the opportunity to earn a considerable bonus if you meet the qualifications. Fortunately, the conditions for the bonus are very easy to achieve. Earn 30,000 bonus points when you make at least $3,000 in net purchases within 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining-related purchases. We believe that most businesses, large and small, will be able to achieve this minimum with relative ease. These bonus points can then be redeemed for a $250 statement credit going toward travel purchases, therefore returning 25% of the money that was spent to achieve the bonus.

Business Advantage Relationship Rewards

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has a unique feature that members can enroll in called the Business Advantage Relationship Rewards program. This program consists of three different tiers: Gold, Platinum and Platinum Honors. Your placement into a tier is dependent on your three-month average combined balances in your qualifying Bank of America business deposit and/or your Merrill Edge or Merrill Lynch business investment accounts.

The greatest takeaway is higher tiers result in more rewards points. If your businesses qualifies for Platinum Honors, they will receive 75% more points on the base earn for eligible business credit cards. In other words, businesses have the potential to earn 2.62 points, from a base of 1.5 points, on all purchases outside of travel. If the previous rewards points were great, then these new values using the Business Advantage Relationship are excellent, rivaling even some of the higher-end luxury business travel cards.

These rewards points can then be redeemed for a variety of benefits. The points can be redeemed for statement credit to pay for flights, hotels, vacation packages, cruises, rental cars or baggage fees. In addition, the points can also be exchanged for gift cards or simply cash back. The flexibility of rewards, in conjunction with the high points-per-dollar rate when paying for travel expenses or in general when you are a Platinum Honors member, will provide great returns to cardmembers.

Our Verdict on the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

If you need a travel rewards card for a small or midsize business, the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is a very strong choice. The only downside to the card is its requirement of Excellent credit, but that is also a necessary requirement to apply for almost any business travel rewards card. The only other shortcoming is that some of the card’s competitors offer better rewards rates, but those same cards also demand large annual fees, mitigating many of the advantages to a higher rewards rate.

We strongly recommend that most small to midsize businesses should apply for this card if it fits their needs of a high rewards yet low cost business travel card.

Alternatives to the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card:

Although the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card occupies a unique niche within the market, there are still alternatives that may be an even better fit for the specific needs of your business. Compare the strengths of the following cards to your needs, and determine for yourself which will help your business the most:

A Better Card for Luxury

The Platinum Card® from American Express

$550

See Pay Over Time APR

Excellent/Good

  • Earn 75,000 Membership Rewards® Points after you spend $5,000 on purchases on your new Card in your first 6 months of Card Membership.
  • Earn 10x points on eligible purchases on your new Card at U.S. Gas Stations and U.S. Supermarkets, on up to $15,000 in combined purchases, during your first 6 months of Card Membership. That’s an additional 9 points on top of the 1 point you earn for these purchases.
  • Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member and Additional Centurion Cards only.
  • Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel. Starting January 1, 2021, earn 5X points on up to $500,000 on these purchases per calendar year.
  • 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
  • Enjoy complimentary access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits through American Express Travel with an average total value of $550 with Fine Hotels & Resorts® program at over 1,100 properties . Learn More.
  • Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. That’s up to $50 in statement credits semi-annually. Enrollment required.
  • $550 annual fee.
  • Terms Apply.

The Platinum Card® from American Express has an extraordinarily high annual fee of $550 (See Rates&Fees), which translates into an entirely different range of benefits and rewards. You will be able to potentially earn 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel and 5X Membership Rewards® points on prepaid hotels booked with American Express Travel. That's one of the highest rewards rates across any card.

In addition, there are many complimentary benefits from simply owning the card that are exclusive to The Platinum Card® from American Express. There is an up to $200 airline fee credit per calendar year. You can also earn up to $200 in annual savings by using the Uber app with this card.

However, what may be the most appealing benefit for most people who choose to apply for this card is access to the Global Lounge Collection. This means you will be able to enjoy some of the greatest luxury travel amenities accessible, including entrance to the Centurion lounges and Priority Pass Select lounges. If you desire a luxury traveling experience, The Platinum Card® from American Express is irreplaceable.

For rates and fees of The Platinum Card® from American Express, please click here.

One of the Best Cash Back Cards

The Bank of America® Business Advantage Cash Rewards Mastercard® credit card is one of the premier business cash back cards available as it lets users earn Earn 3% cash back in the category of your choice, 2% cash back on dining and unlimited 1% cash back on all other purchases. You'll get 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.

Even better, the card has a sign-up bonus in the form of a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening. Relative to other existing offers on the market, this sign-up bonus should be relatively easy to hit by most businesses.

Getting a High Number of Miles

The Capital One® Spark® Miles Select for Business is tailored for small businesses to capitalize on their travel expenses and maximize rewards. It is also worth noting that the Capital One® Spark® Miles Select for Business has an annual fee of $0. Using this card, your business will earn 1.5 Miles per $1 on every purchase.

Depending on your purchasing patterns, you might find that the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card offers a stronger rewards rate. You will be able to earn 3 points for every $1 spent for travel booked through the Bank of America® Travel Center and 1.5 rewards points for every $1 on all purchases (If you are a member of the Business Advantage Relationship Rewards, then this number will be even greater.) Ultimately, this means that the Capital One® Spark® Miles Select for Business is generally less rewarding than Bank of America's offering.

Final Thoughts

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is a strong choice for small to midsize businesses that want to capitalize on their travel expenses. The card offers a solid, one-time points bonus that we imagine would be easy to achieve. The rewards points rate is also great, and is further improved if you qualify for a higher tier membership in the Business Advantage Relationship Rewards program. The amount of value offered by this card at absolutely no annual fee is tremendous, and we would strongly recommend this card to you and your business if it fits your needs.

The information related to Bank of America® Business Advantage Travel Rewards World Mastercard® credit card, Capital One® Spark® Miles Select for Business and Bank of America® Business Advantage Cash Rewards Mastercard® credit card has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.

Yowana is a former product analyst at ValuePenguin, specializing in credit cards, rewards programs and travel. He previously covered mortgages, banking and insurance for the website. Yowana graduated from Columbia University with a B.A. in Political Science.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).

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