Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card Review
Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card Review
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is a fantastic option for travelers and small business owners alike.
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Quick facts
More details
Rates & fees
- Credit needed: 720 - 850
- Sign-up bonus: Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining purchases.
- Earning rate: Earn 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center. Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend. Points don't expire.
- Annual fee: $0
- Intro APR: 0% Introductory APR on purchases for your first 9 billing cycles on purchases from account opening, then 16.74% - 26.74% Variable
- Regular APR: 16.74% - 26.74% Variable
- Preferred Rewards bonus: Preferred Rewards members earn up to 75% more points on every purchase.
- Foreign transaction fees: None
Quick facts
- Credit needed: 720 - 850
- Sign-up bonus: Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining purchases.
- Earning rate: Earn 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center. Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend. Points don't expire.
- Annual fee: $0
- Intro APR: 0% Introductory APR on purchases for your first 9 billing cycles on purchases from account opening, then 16.74% - 26.74% Variable
- Regular APR: 16.74% - 26.74% Variable
- Preferred Rewards bonus: Preferred Rewards members earn up to 75% more points on every purchase.
- Foreign transaction fees: None
More details
- Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining purchases.
- Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time - no matter how much you spend.
- No limit to the amount of points you can earn and points don't expire.
- You can earn up to 75% more points on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to an unlimited 2.62 points per $1 spent on all purchases.
- No annual fee and no international transaction fees.
- Choose how to redeem points - for a statement credit to offset travel and dining purchases, travel with no blackout dates at the Bank of America® Travel Center, for cash back or gift cards.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.74% to 26.74% will apply.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Rates & fees
- Intro Purchase APR: 0% Introductory APR on purchases for your first 9 billing cycles
- Regular Purchase APR: 16.74% - 26.74% Variable
- Intro BT APR: N/A
- Regular BT APR: 16.74% - 26.74% Variable APR on balance transfers
- Annual Fee: $0
- Foreign Transaction Fee: None
- Balance Transfer Fee: Either $10 or 4% of the amount of each transaction, whichever is greater.
Pros
Cons
Is the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card worth it?
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is an excellent travel card that can certainly be worth it for frequent travelers and small business owners alike.
This $0-annual-fee card offers 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center. Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend. Points don't expire. Despite not having an annual fee, its point system rivals those of luxury travel cards and other general rewards cards.
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 as it offers high rewards at a low cost. Consumers with a business checking account with Bank of America can earn up to 75% more rewards through the bank’s Preferred Rewards for Business program. The only 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.
Who is the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card best for?
This card is best for frequent travelers who plan to book their trips through the Bank of America Travel Center, as the card offers a high earning rate for travel purchases. Small to midsize business owners can also benefit from this card as they'll earn up to 75% more rewards points when keeping a business checking account with Bank of America and qualifying for the Preferred Rewards for Business program. Because this card doesn't charge an annual fee or foreign transaction fees, it can be a wonderful choice for travelers and business owners looking to keep costs down while getting rewarded for their spending.
Sign-up bonus
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card offers a considerable sign-up bonus if you meet the qualifications:
Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining purchases.
Fortunately, reaching the minimum spending threshold to earn the sign-up bonus shouldn't be too challenging for consumers who use their card regularly.
What's it worth? $300 statement credit
Who's eligible to earn this bonus? New cardholders are eligible to receive this bonus. Only one 30,000 Bonus Reward Points offer is allowed per company account.
Earning rate
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card serves the role of a travel card excellently.
You earn 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center. Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend. Points don't expire.
Not only is this a great travel card, but it's also a solid all-around rewards card given its higher-than-average points rate across all categories. We value Bank of America points at 1 cent per point, so rewards earned with this card can be quite valuable.
It's worth noting, too, that consumers with a business checking account with Bank of America are eligible for up to a 75% points increase on all purchases through the Preferred Rewards for Business program, which we will discuss in detail below.
Redeeming rewards
Redeeming points with the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is incredibly simple. Cardholders have four different options when it comes to redeeming their rewards:
Redemption category | Value per point | Minimum redemption amount |
|---|---|---|
| Travel | 1 cent | 2,500 points |
| Cash back | 1 cent | 2,500 points |
| Gift cards | Varies | 3,125 points |
Travel rewards can be redeemed through the Bank of America Travel portal or for statement credits against your travel purchases at a value of 1 cent per point. You can redeem your points for statement credits for up to 12 months past the date purchase, giving you ultimate flexibility. You can also redeem points for straight cash back, if you don't want to deal with travel purchases.
The main drawback to the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is that points are worth 1 cent each at most, no matter how you redeem them. Cards like the Chase Ink Business Preferred® Credit Card offer a bonus on travel redemptions, and even let you transfer points to hotel and travel loyalty programs to increase their value. These flexible point travel cards are the best way to go if you want to earn the most travel for your spending.
Bonus for Bank of America customers
In order to qualify for Preferred Rewards for Business, you must have an active, eligible Bank of America business checking account and a three month combined average daily balance of $20,000 or more in qualifying Bank of America business deposit accounts and/or Merrill® business investment accounts.
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card offers up to 75% more bonus points to consumers who have a business checking account with Bank of America and who qualify for the Preferred Rewards for Business program.
The program consists of three different tiers: Gold, Platinum and Platinum Honors. Your placement into a tier is dependent on this three-month combined average. The higher your tier, the greater the bonus percentage you earn on your base points. If your business qualifies for Platinum Honors, you will receive 75% more points on the base earned for eligible business credit cards, meaning you could earn 5.25 points per dollar spent at the Bank of America Travel Center and 2.62 points per dollar spent on all other purchases.
Preferred Reward Status | Bank of America account minimum | Preferred Rewards bonus | Points/$1 | Points/$1 on Bank of America travel center purchases |
|---|---|---|---|---|
| None | No accounts or less than $20,000 | 0 | 1.5 | 3 |
| Gold | $20,000 to $49,999 | 25% | 1.87 | 3.75 |
| Platinum | $50,000 to $99,999 | 50% | 2.25 | 4.5 |
| Platinum Honors | $100,000 and up | 75% | 2.62 | 5.25 |
Other benefits
A top benefit of the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is that it does not charge foreign transaction fees. This can save frequent travelers and business travelers significant amounts of money when making purchases internationally.
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card offers card members an intro APR of 0% Introductory APR on purchases for your first 9 billing cycles on purchases from account opening, then 16.74% - 26.74% Variable. This can be exceedingly helpful for consumers who tend to carry a balance on their card or for small businesses with large start up costs.
A nice benefit of the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is that it comes with a number of travel and emergency services to help protect your business. Card members will receive $1 million of coverage in:
- Travel accident insurance
- Lost luggage reimbursement
- Trip cancellation coverage
- Trip delay reimbursement
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card comes with zero liability protection against unauthorized transactions, meaning you won't be held responsible for any fraudulent charges on your account. You'll also be protected against loss, damage, fire or theft for certain purchases. Card members can also receive extended warranty coverage.
Drawbacks
- Requires 720 - 850 credit: The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card requires 720 - 850 credit for approval. Make sure your credit score is high enough before applying to decrease the chance of having your application rejected and getting an unnecessary ding to your credit score.
- Only business account holders can earn bonus rewards: While the rewards on this card are still good without the 75% bonus, it's worth noting that you won't qualify to receive the bonus unless you meet the specific Preferred Rewards for Business requirements.
What credit score is needed for the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card?
Consumers will need 720 - 850 credit in order to qualify for the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card. You'll want to make sure your credit score is high enough before applying for the card to increase your chances of acceptance and avoid doing damage to your credit score.
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 travel cards and small business cards to determine for yourself which card will help your business the most:
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Bank of America® Business Advantage Travel Rewards World Mastercard® credit card vs. The Platinum Card® from American Express
Verdict: More expensive but worth it for those seeking luxury travel
The Platinum Card® from American Express has an extraordinarily high annual fee of $695, which translates into an entirely different range of luxury benefits and rewards. You can earn 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel on up to $500,000 on these purchases per calendar year and 5X Membership Rewards® points on prepaid hotels booked with American Express Travel. Terms apply. 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. You'll get up to a $200 airline fee credit per calendar year (enrollment required), a $100 Saks credit (enrollment required) and more.
It also comes with access to the Amex Global Lounge Collection. This means you will be able to enjoy some of the greatest luxury travel amenities accessible, including entrance to Centurion, Delta SkyClub and Priority Pass™ Select lounges (enrollment required). 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
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card vs. Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card
Verdict: A good option for customizing your cash back
The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card is a great option for business owners who prefer to pick their own 3% bonus category each month. Users Earn 3% cash back in the category of your choice (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter), 2% cash back on dining purchases (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter) and 1% cash back on all other purchases
Even better, the card has a sign-up bonus in the form of a Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening. Relative to other existing offers on the market, this sign-up bonus shouldn't be hard to hit for most businesses.
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card vs. Capital One Spark Miles Select for Business
Verdict: More modest rewards for cardholders who want to avoid an annual fee
The Capital One Spark Miles Select for Business is tailored for small businesses to capitalize on their travel expenses and maximize rewards. For a $0 annual fee, cardholders earn 1.5 Miles per $1 on every purchase. While this rate on general purchases is competitive with the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card, the Capital One Spark Miles Select for Business doesn't earn any bonus rewards outside this.
If you spend a lot on travel (or are a Bank of America Preferred Rewards customer), you might find that the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card offers a stronger rewards rate. Ultimately, this means that the Capital One Spark Miles Select for Business is generally less rewarding than Bank of America's offering.
Should you get the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card?
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, sign-up bonus that shouldn't be difficult for small businesses to achieve. The earning rate is also great, and is further improved if you qualify for a higher tier membership in the Bank of America Business Advantage Relationship Rewards program.
The amount of value offered by this card at $0 annual fee is tremendous, and we would strongly recommend this card for your business if it fits your needs. However, if this card doesn't have what you're looking for, consider another travel credit card or small business credit card instead.
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card FAQs
Does the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card have travel insurance?
Yes, the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card does come with travel insurance for up to $1 million for your business.
Are there Bank of America® Business Advantage Travel Rewards World Mastercard® credit card international fees?
No, the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card does not charge international fees.
What is the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card phone number?
The Bank of America customer service phone number is 800-732-9194.
For rates and fees of The Platinum Card® from American Express, please click here
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 Customized 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.
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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).