Small companies that spend big on business travel expenses could save with this travel rewards card.
30-second take
- Get this card if you travel often and want to earn points you can redeem for travel-related purchases.
- Pick something else if you want to earn cash back rewards on your business purchases or you want a low intro balance transfer APR card.
- Apply with an excellent credit score of 740 or higher.
| Product Name | Business Advantage Travel Rewards World Mastercard® credit card |
|---|---|
| Balance Transfer Rate (not intro) | 12.74% to 22.74% variable |
| APR for Purchases ( Purchase Rate ) | 12.74% to 22.74% variable |
| Annual fee | $0 |
| Cash Advance Rate | 25.74% variable |
| Card Type | Mastercard |
| Interest Free Period The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement. | Up to 25 days |
| Returned Payment Fee | $39 |
| Foreign Currency Conversion Fee (MC) Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution. | 0% of transaction value |
| Minimum Interest | $1 |
| Minimum Credit Score | Excellent (740+) |
|---|---|
| Minimum Age | 18 years of age |
| Annual fee | $0 |
|---|---|
| Returned Payment Fee | $39 |
| Late Payment Fee | $49 |
| Cash Advance Fee | $10 or 4% of the amount of each transaction, whichever is greater |
| Rewards Program | Bank of America |
|---|---|
| Bonus Points on Sign-up | 25,000 |
| Rewards Points per $ spent (VISA/MC) | 3 |
| Points Expiry | Never |
The basics
If your business requires frequent travel that often lands you in hotels and rented cars, you might want to consider Bank of America’s Business Advantage Travel Rewards World Mastercard® credit card. For every dollar you spend on airfare, hotels and car rental bookings through Bank of America’s Travel Center, you’ll earn 3 points. And you’ll earn 1.5x points on all other purchases.
On top of that, if you’re enrolled in Business Advantage Relationship Rewards, you’ll get an additional 25% to 75% reward bonus on every purchase you make. This means you could earn up to 2.62 points on all of your purchases, rather than the card’s typical 1.5x points.
There’s no limit on how many points you can earn, and points don’t expire. Redeem your points for statement credit to pay for flights, hotels, car rentals, vacation packages, cruises or baggage fees, or use them for cash back and gift cards.
If your business is international, you can rest easy: The Business Advantage Travel Rewards World Mastercard® credit card doesn’t come with international transaction fees either.
What is the Business Advantage Relationship Rewards program?
This business program designed to boost your business through a variety of rewards and benefits that grow as you increase your balances across Bank of America business deposit and Merrill Edge® or Merrill Lynch® investment accounts.
To join this program, you must own an eligible Bank of America business checking account holding there-month combined average of $20,000 or more.
Through the Business Advantage Relationship Rewards program, you get priority client service along with:
- No fees on select everyday banking services.
- A 25% to 75% reward bonus on your base earnings for eligible business cards.
- An interest rate discount of up to 0.75% on a business advantage credit line, term loan or secured lending.
- An interest rate discount of up to 0.50% on business advantage auto loans and commercial real estate loans.
The perks
Travel rewards.
The Business Advantage Travel Rewards World Mastercard® credit card from Bank of America rewards you with 1.5x points on everyday purchases and 3x points for bookings through the Bank of America Travel Center. You can redeem your points for a statement credit toward flights, cruises, vacation packages, hotels, car rentals or baggage fees, or redeem them for cash back and gift cards. This is especially useful for companies that spend heavily on travel. Comparable credit cards, including the Spark® Miles Select for Business, reward you 1.5 points per $1.
No international transaction fees.
The Business Advantage Travel Rewards World Mastercard® credit card comes in handy for travel abroad — and not just for its travel rewards. No foreign transaction fee stacks up well against other credit cards that typically charge 3% on every transaction outside the US.
No annual fees.
The Business Advantage Travel Rewards World Mastercard® credit card comes with a $0 annual fee, which is a great way to minimize your card fees right out of the gate.
Low intro APR.
For the first 9 billing cycles after your account is account opening, you get a 0% introductory APR, which reverts to 12.74% to 22.74% variable APR after that. This is a good feature for businesses looking to make a large purchase early on.
You’ll also like
Signup bonus.
Earn 25,000 points after spending $1,000 or more in net purchases in the first 60 days your account is open, redeemable a $250 statement credit you can apply to travel purchases. The comparable Spark® Cash Select for Business rewards you with a smaller bonus, despite its higher purchase requirement to qualify. You’ll earn 20,000 points — equal to $200 in travel purchases — after you spend $3,000 in the first 90 days your account is open.
0% penalty APR.
If you miss a payment, you won’t have to worry about a penalty APR. Other cards typically require a penalty APRs as high as 30%.
Travel services.
The Business Advantage Travel Rewards World Mastercard® credit card has you covered for a cool $1 million in travel accident insurance, lost luggage and trip delay reimbursements, as well as a trip cancellation coverage.
Zero liability protection.
You’ll get zero liability protection for unauthorized transactions. You’re also protected from misuse by terminated employees and protection against loss, theft, damage or fire. Knowing that the money you don’t want to spend is safe can keep you at ease.
What to watch out for
Late payment fees.
The Business Advantage Travel Rewards World Mastercard® credit card comes with penalty fees of up to $49 for late payments.
No introductory balance transfer APR.
There’s no intro balance transfer APR for this card, which means you start off with a 12.74% to 22.74% variable APR on balance transfers right away.
Consider other cards if …
You don’t spend thousands of dollars on travel.
If your business doesn’t travel much and you aren’t interested in travel rewards, look for other cards that best suit your needs. For a card with a low purchase APR, check out the Platinum Visa® Business Credit Card by Bank of America, which offers a 0% introductory APR on purchases for the first 7 billing cycles, and then 10.74% to 21.74% variable APR after.
You want cashback rewards.
If your company spends thousands on gas or office supplies, consider the Business Advantage Cash Rewards Mastercard® credit card from Bank of America, which offers 3% cash back on gas and office supplies on up to $250,000 per year and 1% thereafter, 2% on restaurant purchases and 1% on all other purchases.
A similar cashback card is SimplyCash® Plus Business Credit Card from American Express, which offers 5% cash back on office supplies and wireless services at eligible US retailers and 3% on a category of your choice. Categories include airline tickets, restaurants, gas, computer hardware and software, hotel stays, car rentals, media advertising and shipping. The 5% and 3% cashback rewards are capped at $50,000 in combined purchases. After that, your cashback rate reverts to 1%.
If you don’t spend much on any particular service or group of products, consider Capital One® Spark® Cash for Business, which offers unlimited 2% cash back on all purchases.
Compare business credit cards
What size business is the Business Advantage Travel Rewards World Mastercard® credit card good for?
For a small business that has heavy travel expenses, the Business Advantage Travel Rewards World Mastercard® credit card may be a good choice. You can earn $7,200 per year in statement credit toward travel purchases if you spend $20,000 monthly through the Bank of America Travel Center.
What should I know before I apply?
To apply for the Business Advantage Travel Rewards World Mastercard® credit card, you’ll need to submit information about yourself, your company and any employee you want to designate as a card holder.
Personal and financial details include:
- Your business name and address.
- Your federal tax ID number or employment identification number.
- The year and country in which your business was legally formed.
- The type of company your business is.
- The countries you conduct your business operations in.
- Your business’s industry and gross annual sales.
- Your personal information, including your household income, source of income and housing status.
Always consider your options and your financial situation before you apply for a credit card.
How to apply for the Business Advantage Travel Rewards World Mastercard® credit card?
- Go to the Bank of America website.
- Select the Business Advantage Travel Rewards World Mastercard® credit card and click Apply now.
- Complete the application form with requested information about you and your business.
- Review your application and submit it.
How long will it take to be approved?
Generally, it takes 10 to 12 business days for the bank to process your application. If Bank of America requires other documents or has questions regarding your application, a representative will call you.
If approved, you’ll receive your credit card within 7 to 10 business days after application approval.
I got the card. Now what?
- Manage your spending. Bank of America offers online tools that allow you to manage your account 24/7. Set up autopay and transfers, or track your employees’ spending in the MyReport Center.
- Avoid paying interest. Your get a grace period on interest for25 days from your statement closing date. Pay your balance by the due date to avoid unnecessary interest.
- Avoid penalty fees. Avoid fees as high as $49 by paying on time.
- Customer service. Call Bank of America at 800-732-9194, email through its secure online form or connect on Twitter or Facebook @BankofAmerica.
Bottom line
If your business spends a lot on travel, look into the Business Advantage Travel Rewards World Mastercard® credit card, which comes with no annual fee and the ability to earn 3x points through the Bank of America Travel Center and 1x points on everything else — with no cap or expiration.
You can redeem points for statement credit toward flights, car rentals, hotels, cruises, vacation packages or baggage fees. And no international transaction fees sweetens the deal if you travel abroad.
Take advantage of the 0%‘s 0% introductory APR on purchases for the first 9 billing cycles, reverting to 12.74% to 22.74% variable APR thereafter.
Before you take off with this card, compare your credit card options. You may find another travel-centric card that better fits your needs.
