Bank of American Business Advantage Travel Rewards World Mastercard

Andrew Reyes  | 
  • Annual percentage rate (APR): 12.24% to 22.24%.
  • Purchase intro APR: 0% for nine months.
  • Intro rewards bonus: 30,000 points.
  • Rewards: 1.5 to 3 points per dollar.
  • Annual fee: $0.
  • Late fee: Up to $49.
  • Credit score: Very Good to Excellent (720-850).
  • Compare cards here.

Benefits

  • Introductory bonus offer: The Bank of America Business Advantage Travel Rewards World Mastercard has an attractive introductory bonus offer. To earn the bonus, new cardholders need to make $3,000 in purchases in three months, and they will get 30,000 bonus points. The bonus is worth approximately $300, which you get in the form of a statement credit on travel purchases. Cardholders also get 0% interest on all purchases for the first nine months of card ownership.
  • No annual fee: Business rewards cards, especially those that offer more than one point per dollar in rewards, usually have a yearly fee. The Business Advantage Travel Rewards card does not have an annual fee. The lack of such a cost makes it an attractive option for people who want to earn decent rewards without worrying about paying extra each year. The base 1.5 points-per-dollar ratio for all purchases is better than most fee-free rewards cards.
  • Generous travel-related rewards: The Bank of America Business Advantage Travel Rewards card is ideal for frequent travelers. They can earn three points per dollar on travel-related purchases, including airfares, hotels, and rental cars. You maximize your rewards by booking through the Bank of America Travel Center. If you have a Bank of America business account and meet minimum balance requirements, you can earn up to 75% more points. Potentially, cardholders could earn more than five points per dollar spent on travel if they have $100,000 or more in a BoA business account.  
  • Extra perks: The Bank of America Business Advantage Travel Rewards card has additional travel-related perks that are rare in a fee-free card. Cardholders get $1 million in travel accident insurance for trips booked with the card. They also get insurance covering trip cancellations, delays, and lost luggage.

Drawbacks

  • Excellent credit required: The Business Advantage Travel Rewards card requires a very good or excellent credit score. This card is not for people who need to improve their credit score or who lack credit history. If you think you would benefit from the Travel Rewards card, but you lack the required credit score, you can take steps to improve your credit and apply for the card once your score rises to 720 or higher.
  • You need a Bank of America business account to maximize rewards: 1.5 to three points per dollar is a competitive rewards ratio for fee-free cards. However, those who want to earn more need to maintain a Bank of America business account with $20,000 to $100,000. Depending on the size of your business and your cash-flow patterns, this requirement could be a challenge.
  • Other annual-fee cards offer more rewards per dollar: If you are willing to pay an annual fee, other cards offer higher points-per-dollar ratios without any bank account or balance requirements. Some of these cards offer additional perks, such as airport lounge access. With the Bank of America Travel Rewards card, you do not have to worry about earning more rewards to make up for the annual fee. However, business people who travel frequently may get more value with an annual-fee card.
  • Must book through Bank of America Travel Center: To earn three or more points per dollar, you need to book your trips through the Bank of America Travel Center. Though this booking process is straightforward and pricing is competitive, you cannot earn the same rewards when booking through a third-party site.  

What Can You Expect From the Bank of American Business Advantage Travel Rewards World Mastercard?

The Bank of American Business Travel Rewards World Mastercard offers account management tools specifically for business and travel. In addition to having no foreign transaction fees, this card provides various forms of travel insurance.

You can book directly through the Bank of America Travel Center. This setup provides all-in-one business travel management, which could be very convenient for small businesses without a travel specialist in their office.

This card is best for people who already have a Bank of America bank account. You can use BoA’s account management tools to pay bills, track purchases, and manage balances on the card. The options include both a browser-based account management platform and Bank of America’s mobile app.

Who Should Get the Bank of American Business Advantage Travel Rewards World Mastercard?

The Bank of America Business Advantage Travel Rewards World Mastercard is best for small businesses and business people who travel often but do not want to pay an annual fee for their rewards credit card.

Also, you can earn extra rewards if you have a Bank of America bank account. Not only can you earn more than five points per dollar with an account, but you will also be able to manage your card account and bank accounts together on the BoA online platform and mobile app.

The Business Advantage Travel Rewards card is an excellent option for a fee-free travel rewards card for any small business or business person who travels. Even without any bonus percentages from having another Bank of America account, the rewards and perks, such as travel insurance, are very competitive with any other fee-free card on the market.

Compare other reward travel cards and learn more here.


Image Source: https://depositphotos.com/