Asiana Visa® Business Card by Bank of America review | finder.com

Asiana Visa® Business Card by Bank of America review – August 2018

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A small business credit card for frequent flyers to East Asia and Oceania.

30-second take

  • Get this card if you fly often with Asiana Airlines and occasionally through Star Alliance.
  • Pick something else if you want a cashback card or an intro APR period on purchases and balance transfers.
  • Apply with a good business credit score or higher.
Product NameAsiana Visa® Business Card
Card TypeVisa
Annual Fee$80
APR (Annual Percentage Rate) for Purchases14.99% variable
Balance Transfer Fee4% or $10 of the transaction, whichever is greater
Cash Advance Rate25.99% variable
Cash Advance Fee$10 or 4% of the cash advance amount, whichever is greater
Foreign Transaction Fee3% of the transaction value
Interest Free PeriodUp to 25 days
Minimum Interest$1
Late Payment Fee$49
Returned Payment Fee$39
Minimum Age18 years of age
Welcome BonusEarn 10,000 miles after your first purchase
Reward Value per Dollar1 miles

The basics

The Asiana Visa® Business Card can be a good addition to any business that requires frequent travel to countries in East Asia and Oceania, including Korea, Australia and the Philippines. You’ll earn 2x miles on Asiana flights and 1x miles on all other purchases with your card.

It also offers a generous signup bonus that’s easy to earn: Make your first purchase, and get 10,000 miles. Use your miles to upgrade your Asiana Club status, which each tier offering stronger perks and benefits.

What is Asiana Club?

Asiana Club is the frequent flyer program for Asiana Airlines, one of the two largest South Korean airlines headquartered in Seoul. Pay for your tickets with the Asiana Visa® Business Card to earn miles and enjoy the benefits of being a frequent flyer.

Depending on the miles you accumulate and flights you board, you can work your way up five tiers of Asiana Club membership:

  • Silver. New members enter at the Silver tier that allows you to redeem miles for ticket purchases and seat upgrades. You also earn miles through airline, hotel and car rental partners.
  • Gold. Upgrade to Gold with 20,000 miles or by boarding 30 Asiana flights in 24 months. You get all the benefits of Silver — plus you earn miles with Star Alliance airlines.
  • Diamond. Upgrade to Diamond with 40,000 miles or by boarding 50 Asiana flights in 24 months. You get all Gold member benefits, plus access to Star Alliance lounges worldwide and 10% more miles on flight purchases, among other travel perks.
  • Diamond Plus. Upgrade to Diamond Plus with 100,000 miles or by boarding 100 Asiana flights within 24 months. Your membership lasts 24 months, or you can earn lifetime membership by accumulating 500,000 miles or 500 Asiana flights boarded after signing up to Asiana Club. Perks include 15% more miles earned and mileage redemption coupons.
  • Platinum. The ultimate Asiana flyer can upgrade to this highest tier with a cool 1 million miles or 1,000 boarded flights since Asiana Club signup. Membership is for life and includes perks like express boarding, access to the highest class of lounges in South Korea, 20% bonus miles on your purchases and more.

All tiers come with priority baggage processing, free baggage allowances and more with Star Alliance partners.

The perks

  • Signup bonus.

    Earn 10,000 bonus miles after your first purchase with the card. To get a one-person round trip from US to South Korea on economy class, you need at least 70,000 miles.

  • Statement rebates.

    Each year, get two $100 statement rebates on ticket purchases for US-departure Asiana flights just for holding the card.

  • Earn miles.

    Earn 2x miles for all Asiana Airlines purchases and 1x miles on all other spending. You can also earn miles when flying Star Alliance and Asiana partners that include Qatar and Etihad Airways. Redeem miles toward flights on Asiana Airline or Star Alliance airlines and seat upgrades.

What can you get with Asiana miles?

If you’re looking to redeem your miles toward flights, here’s what you might need for popular routes:

  • From US to South Korea flights. At least 70,000 miles for economy, 105,000 miles for business class and 160,000 miles for first-suite class.
  • From US to Japan or Northeast Asia flights, with a transfer in Korea. You need 75,000 miles for economy, 110,000 miles for business class and up to 170,000 miles for first-suite class.
  • From US to Southwest Asia flights, with a transfer in Korea. You need 95,000 miles for economy, 140,000 miles for business class and up to 210,000 miles for first-suite class.
  • From US to Oceania flights, with a transfer in Korea. You need 105,000 miles for economy, 160,000 miles for business class up to 230,000 miles for first-suite class.

To redeem your miles for seat upgrades, miles required vary by route:

  • US to Korea flights. Upgrade from economy to business class for 60,000 miles, from economy to Business Smartium for 80,000 miles and from Business Smartium to first-suite class for 80,000 miles.
  • US to Japan or Northeast Asia flight. Upgrade from economy to business class for 60,000 miles, from economy to Business Smartium for 85,000 miles and from Business Smartium to first-suite class for 80,000 miles.
  • US to Southeast Asia flight. Upgrade from economy to business class for 75,000 miles, from economy to Business Smartium for 105,000 miles and from Business Smartium to first-suite class for 95,000 miles.
  • US to Oceania flight. Upgrade from economy to business class for 100,000 miles, from economy to Business Smartium for 140,000 miles and from Business Smartium to first-suite class for 120,000 miles.

You can also redeem miles for excess baggage, with miles requirements that vary from 2,500 to 40,000 miles, depending on your flight.

You’ll also like

  • Travel protection.

    Get $1 million in travel insurance and car rental insurance when you pay using your Asiana Visa® Business Card. You’re also protected against ticket replacement and lost luggage.

  • Zero liability protection.

    You aren’t charged for unauthorized transactions, and you’re covered against card misuse by former employees or in case of loss, damage and theft of your card.

  • Fraud monitoring.

    Bank of America monitors your card activity, notifying you if they notice an abnormal or unusual spending patterns.

  • No penalty APR.

    This is one of the rare business credit cards that doesn’t hit you with a penalty APR if you miss a payment. You’ll still pay late payment fees, though. Other cards charge penalty APRs of up to 29.99% variable.

  • Low APR on purchases and balance transfer.

    This card comes with a variable APR of 14.99% for purchases and balance transfers. When compared with other airline cards, Asiana’s has one of the lowest APRs on purchases and balance transfers.

What to watch out for

  • Annual fee.

    This card comes with an annual fee of $80. But if you fly often on Asiana, you’ll easily offset this fee.

  • Foreign transaction fees.

    It’s a travel card, but you’re on the hook for a fee equal to 3% of your transaction when you use your card abroad.

  • High late payment fees.

    Try to avoid late payments or you’ll be stuck paying up to $49. Unlike other airline cards, you won’t pay a penalty APR.

Consider other cards if …

  • You’re loyal to other airlines.

    If you’re a fan of low-cost carriers, look into the Southwest Rapid Rewards® Premier Business Credit Card. Those who prefer bigger names will like the United MileagePlus® Explorer Business Card or the Gold Delta SkyMiles® Business Credit Card.

  • You want a cashback card.

    SimplyCash® Plus Business Credit Card from American Express offers a strong 5% cash back on office supplies and wireless telephone services at US retailers and 3% cash back in a category of your choice on up to $50,000 per year — after that, your rate reverts to 1% cash back, which is what you’ll also earn on all other purchases.

  • You want travel rewards.

    The Business Advantage Travel Rewards World Mastercard® credit card from Bank of America may be better suited for overall travel. It earns you 3x points on purchases through the Bank of America Travel Center and 1.5x points on all other purchases. Redeem your points for flights, hotels, car rentals, cruises and more.

  • You want an intro APR on purchases and balance transfers.

    The Blue Business℠ Plus Credit Card from American Express could be a choice for those seeking a strong promo period. Get 0% intro APR on purchases and transfers for the first 15 months your account is open, reverting to a variable APR of 12.99%, 16.99% or 20.99% after. You can also spend above your credit limit, and you’ll earn 2x Membership Rewards points for purchases on up to $50,000 a year, reverting to 1x points after.

Compare business credit cards

Updated August 21st, 2018
Name Product APR (Annual Percentage Rate) for Purchases Introductory Purchase APR Annual Fee
None (Charge Card)
$450
Earn 75,000 Membership Rewards® points after you spend $20,000 on purchases within your first 3 months of card membership.
$0 annual fee for the first year ($250 thereafter)
This Charge Card gives you the option to pay in full each month or to carry a balance for up to 60 days with no interest.
$0 annual fee for the first year ($175 thereafter)
13.99%, 18.99% or 20.99% variable
0% for the first 9 months (then 13.99%, 18.99% or 20.99% variable)
$0
Earn cash back with buying power to help pay for business needs.
14.99% to 20.99% variable
0% for the first 12 months (then 14.99% to 20.99% variable)
$0
$500 bonus cash back after you spend $3,000 in the first 3 months
17.74% to 22.74% variable
$95
80,000 bonus points after you spend $5,000 on purchases in the first 3 months after account opening. That's $1,000 toward travel rewards when you redeem through Chase Ultimate Rewards®.
17.74% to 24.74% variable
$99
75,000 Bonus points after you spend $3,000 on purchases in your first 3 months from your account opening with your Marriott Rewards Premier Business credit card.
24.74% variable
$0
Get the credit you want for your business, and unlimited 1% cash back on every purchase, every day
14.74%, 18.74% or 22.74% variable
0% for the first first 9 months (then 14.74%, 18.74% or 22.74% variable)
$0
Unlimited 1.5X miles per dollar on every purchase, every day
18.74% variable
$0 annual fee for the first year ($95 thereafter)
Unlimited 2X miles per dollar on every purchase, every day
14.74%, 18.74% or 22.74% variable
0% for the first 9 months (then 14.74%, 18.74% or 22.74% variable)
$0
Unlimited 1.5 cash back on every purchase, every day.
18.74% variable
$0 annual fee for the first year ($95 thereafter)
Unlimited 2% cash back from Spark Cash could mean thousands of dollars each year going back into your business. No minimum to redeem.
17.74% to 24.74% variable
$0 annual fee for the first year ($95 thereafter)
50,000 bonus miles after you spend $3,000 on purchases in the first 3 months your account is open.
17.74% to 24.74% variable
$99
Earn 2x points on Southwest® purchases and 1x point on all other purchases. Plus 6,000 anniversary bonus points.
17.74% to 25.74% variable
$0 annual fee for the first year ($95 thereafter)
Earn 70,000 American Airlines AAdvantage® bonus miles after you spend $3,000 in purchases within the first 3 months of account opening.

Compare up to 4 providers

What size business is the Asiana Visa® Business Card good for?

Small businesses that often make transpacific flights to South Korea, China, Japan or to any of the Oceania countries could make good use of this card’s rewards. You’ll earn miles on every purchase that you can redeem toward flights and seat upgrades. Plus, redemption isn’t limited to Asiana flights: You can also use points toward Star Alliance airlines as well.

United Airlines is just one of the 28 Star Alliance members. So even if you occasionally fly United, the Asiana Visa® Business Card holds more value for you.

What should I know before I apply?

To apply for the Asiana Visa® Business Card, you must own a company or be authorized to borrow money on behalf of one. You must also be a US resident or permanent resident with a US address.

You’ll provide information about yourself, your business and any additional cardholders that includes:

  • Your business name and address
  • Your federal tax ID
  • Your years in business and type of business
  • Annual sales
  • Personal information and income for the company owner

What credit score do I need?

You can apply with a good business credit score or higher, but businesses that have an excellent credit score will get the strongest APR.

What do customers say about the Asiana Visa® Business Card?

Focusing on Bank of America’s page with the Better Business Bureau reveals a B+ rating from the organization, which accredited the bank in 1949.

Customers have left 175 reviews as of this writing on the bank generally, resulting in a composite score of 3.05 out of 5 stars. Most complaints cite poor customer service and unresolved fraudulent charges.

How to apply for the Asiana Visa® Business Card?

  1. Visit the Bank of America website and select the Asiana Visa® Business Card from the list of business cards. Click Apply now.
  2. Complete the application form with required information about yourself and your business.
  3. Review your application and submit it.

How long will it take to get my Asiana Visa® Business Card?

Bank of America typically approves credit card applications within 24 hours. The process could take up to 12 business days if additional information is required.

After approval, you’ll receive your card by mail within 10 business days.

I got the card. Now what?

  • Enroll in online banking. After you enroll, log in to your account to set up autopay. You can also download your transaction data directly to QuickBooks.
  • Adjust your due date. Call the number on the back of your card and adjust your due date to one that best suits your cash flow.
  • Make timely payments. If you don’t, you’ll pay late fees of up to $49.
  • Avoid paying fees and higher interest. This is a rare business credit cards that won’t hit you with a penalty APR, but you’ll pay a fee for late payments, international transactions and balance transfers.
  • Contact customer service. Call Bank of America’s customer service at 800-732-9194.

Want to earn additional miles?

Earn more miles by staying at select hotel chains:

  • Starwood Hotels and Resorts. 2x miles.
  • Marriott Hotels and Resorts. 1x to 2x miles, depending on the hotel.
  • Hilton Hotels and Resorts. 1x miles.
  • Hyatt Hotels. 500 miles per stay.

You must be a member of the hotel’s loyalty program and show your Asiana Club membership card at check-in. You can then transfer your points to Asiana miles.

You can also earn additional 500 miles per rental with your Asiana Club number when reserving a car from:

  • Hertz Corporation
  • Alamo Rent a Car
  • National Car Rental

Bottom line

The Asiana Visa® Business Card could be a good addition to a business that requires frequent travel to East Asia or Oceania, with benefits that extend to Star Alliance airlines, including United.

Before applying for a credit card, consider the range of business cards out there to find the best you’re eligible for.

Frequently asked questions

Images: BankofAmerica.com

Kliment Dukovski

"Kliment Dukovski is a writer for finder.com. He specializes in global financial markets and personal finance, with a focus on credit cards. His main goal is to deliver honest and accurate information that will help you make the right financial decision. When he's not writing about finance-related subjects he writes sci-fi stories."

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