The Bank of America® Business Advantage Travel Rewards World Mastercard® is a popular business credit card tailored to suit business owners who frequently travel. With no annual fee and no foreign transaction fees, this card offers an affordable solution for businesses seeking to earn travel rewards and reduce travel costs. The card also provides a range of competitive features and benefits that set it apart from other business travel cards on the market.
Earning rewards points is easy with this credit card, as it offers unlimited 1.5 points for every dollar spent on all purchases. Additionally, cardholders have the opportunity to earn even more rewards if they maintain a high account balance in their combined Bank of America banking and Merrill investment accounts. Rewards points can be redeemed for various travel and dining statement credits, as well as for booking travel with no blackout dates through the Bank of America Travel Center. Overall, the Bank of America® Business Advantage Travel Rewards World Mastercard® is a solid option for businesses looking to optimize their spending while enjoying a great range of travel benefits.
Card Overview
The Bank of America® Business Advantage Travel Rewards World Mastercard® is a solid choice for business owners who want to earn travel rewards without paying an annual fee. The card offers a competitive rewards structure and valuable travel benefits that can help reduce overall travel costs for your business.
Cardholders earn 3 points per dollar spent on travel purchases booked through the Bank of America® Travel Center and 1.5 points per dollar spent on all other purchases. There is no limit to the number of points you can earn, and points don’t expire as long as your account remains open and in good standing. Plus, there are no foreign transaction fees, making it a suitable option for international business travelers.
This card comes with an introductory offer, allowing you to earn a generous number of bonus points after meeting the minimum spending requirement within the first few months of account opening. The points can be redeemed for travel, cashback, or gift cards through the Bank of America® Travel Center.
Regarding interest rates, the card has a variable APR ranging from 16.74% to 26.74% depending on your creditworthiness. Keep in mind, though, that carrying a balance will negate the value of the rewards you’re earning.
In addition to the rewards program, the Bank of America® Business Advantage Travel Rewards World Mastercard® provides cardholders with standard Mastercard benefits such as travel protections, purchase and extended warranty coverage, and customizable spending controls for employee cards.
Rewards Program
The Bank of America® Business Advantage Travel Rewards World Mastercard® offers a competitive rewards program for businesses looking to maximize their travel returns. Cardholders can earn 1.5 points per dollar spent on all purchases, with no category restrictions or spending caps. This flat-rate earning structure allows businesses to accumulate points steadily across various expenses.
In addition to the base rewards rate, businesses that book their travel through the Bank of America Travel Center can earn an impressive 3 points per dollar spent. This makes the card an attractive option for companies with frequent travel expenses as it allows them to earn more points on flights, hotels, and rental car bookings.
Furthermore, businesses with a Bank of America checking or savings account can benefit from the Preferred Rewards for Business program. This program offers a point earnings bonus of 25% to 75% for eligible members, increasing the value of their rewards further.
When it comes to redeeming points, cardholders have several options, including:
- Statement credits to offset travel and dining purchases
- Travel bookings with no blackout dates through the Bank of America Travel Center
- Cashback rewards
- Gift cards and other merchandise
Redemption rates and options may vary, but the flexibility in the rewards program makes it easy for businesses to find the best value for their earned points.
Interest Rates and Fees
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card comes with a competitive interest rate. The card has a regular APR range of 16.74% to 26.74%, which varies based on the applicant’s creditworthiness.
One of the most attractive features of this business travel rewards card is the $0 annual fee. This is an excellent choice for businesses looking to minimize their expenses while still benefiting from valuable travel rewards.
The card also offers a 0% introductory APR on purchases for the first 9 billing cycles, which can be beneficial for businesses that need to make significant initial investments. After the introductory period, the regular APR will apply.
Additional fees to be aware of include:
- Late payment fee: Up to $49
- Returned payment fee: Up to $39
- Balance transfer fee: Either $10 or 4% of the amount of each transaction, whichever is greater
- Cash advance fee: Either $10 or 4% of the amount of each transaction, whichever is greater
One notable advantage for international business travelers is that this card has no foreign transaction fees, making it a cost-effective choice for businesses that need to make purchases in foreign currencies.
Cardholder Benefits
The Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card offers a range of benefits for cardholders. One of the key features is the $0 annual fee and no foreign transaction fees, making it an attractive option for businesses with international dealings.
Cardholders can earn 1.5 points for every dollar spent on all purchases without any category restrictions, as mentioned on NerdWallet. Additionally, travel and dining purchases made through the Bank of America Travel Center enable users to earn 3 points per dollar spent.
Redeeming points with this card is flexible, and there are various options available. Points can be redeemed for a statement credit to offset travel and dining purchases or for booking travel with no blackout dates through the Bank of America Travel Center. This feature ensures that cardholders can maximize the value of their points and enjoy travel-related rewards at their convenience.
Other perks associated with this card include travel accident insurance, auto rental coverage, and lost luggage reimbursement, as reported by CreditCards.com. These added benefits provide a layer of security and assistance for cardholders in the event of travel disruptions or mishaps.
In summary, the Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card offers a suite of valuable benefits that cater to businesses with travel and dining expenses. The $0 annual fee, no foreign transaction fees, flexible point redemption, and various travel-related perks make this card a strong contender for businesses looking to optimize their credit card rewards.
Pros and Cons
The Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card has several pros and cons that make it worth considering for business owners looking for a travel rewards card.
Pros:
- No annual fee – This card comes with a $0 annual fee, making it an affordable choice for businesses of all sizes.
- No foreign transaction fees – This card is great for businesses that require international travel, as there are no fees on foreign transactions.
- Welcome offer – Earn 30,000 bonus points after meeting the minimum spending requirement. This can be a valuable boost to your rewards balance early on.
- Flexible rewards redemption – Points can be redeemed for travel, gift cards, cash back, and more, offering businesses flexibility with their rewards.
Cons:
- Limited bonus categories – The card offers 1.5 points per dollar on all purchases, but doesn’t have bonus earning categories, which could limit the overall rewards potential for some businesses.
- Not the highest rewards rate – Although the rewards rate is consistent across all purchases, there are other business travel rewards cards that offer higher rewards rates on specific categories.
- 3.9 rating – While the rating is not necessarily low, this card may not be the top choice for all business owners, as some reviewers cite the limited bonus categories and rewards rate as drawbacks.
Comparison with Competitors
The Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card offers competitive rewards and benefits. Comparing it with other business travel credit cards can help illustrate its value.
Chase Ink Business Preferred® Credit Card is a popular choice among business owners. It has a higher rewards rate, earning 3 points per dollar on travel and other selected expenses, compared to the Business Advantage Travel Rewards card with 3X points on travel booked through the Bank of America Travel Center. However, Chase charges an annual fee of $95, while the Bank of America card has a $0 annual fee.
The Capital One® Spark® Miles for Business is another competitor, offering 2 miles per dollar on all purchases. While this is a straightforward earning rate, it’s a lower return compared to the 1.5 points per dollar earned by the Bank of America Business Advantage Travel Rewards card on all purchases (plus the 3X points on travel booked through the Bank of America Travel Center). Capital One’s card has a $0 intro annual fee for the first year, then $95 thereafter.
In summary, this table outlines the differences between the Bank of America card and its competitors:
| Credit Card | Rewards Rate | Annual Fee |
|---|---|---|
| Bank of America Business Advantage Travel Rewards | 3X on travel booked through Bank of America Travel Center, 1.5X on all other purchases | $0 |
| Chase Ink Business Preferred | 3X on travel and select expenses, 1X on all other purchases | $95 |
| Capital One Spark Miles for Business | 2X on all purchases | $0 intro for the first year, then $95 |
Final Verdict
The Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card is a solid choice for business owners seeking a travel rewards card with minimal fees. With its $0 annual fee and no foreign transaction fees, this card offers a budget-friendly option for businesses that frequently require international travel.
Cardholders enjoy a respectable rewards rate, earning 1.5 points per dollar on everyday purchases and 3 points per dollar on travel booked through the Bank of America Travel Center. The sign-up bonus is also competitive, considering the lack of an annual fee: new users can earn 30,000 bonus points after spending $3,000 within the first 90 days.
For business owners who are already Bank of America customers, the rewards points can be even more valuable. You can earn 25% to 75% more points for your business purchases if you’re a Preferred Rewards for Business member.
While the card offers a solid rewards structure and low fees, it may not be the best choice for businesses with significant travel expenses that prefer to maximize their rewards potential. In this case, exploring other options with higher rewards rates and additional perks, albeit with annual fees, may better suit your business’s needs.