Bank of America Business Advantage Travel Rewards World Mastercard® Review 2022
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
This article is part of a larger series on Best Small Business Credit Cards.
The Bank of America Business Advantage Travel Rewards World Mastercard® is designed for business owners who have frequent travel expenses. It offers fixed-rate unlimited points on all purchases regardless of spending categories. This small business credit card allows you to use points to pay for travel with no blackout dates through the Bank of America® Travel Center.
If you wish to compare one card over another, choose a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Earning top rewards on travel purchases booked through Bank of America
Intro APR
0% for 9 billing cycles
Regular APR
14.49% to 24.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Earn 30,000 bonus points when you make at least $3,000 in net purchases within 90 days of your account opening, which can be redeemed for a $300 statement credit toward travel purchases.
- 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.
- Earn 3 points per every dollar spent on travel purchases like car, hotel, and airline booked through the Bank of America® Travel Center.
- No annual fee and no international transaction fees.
- 0% Introductory APR on purchases for your first nine billing cycles.
- Redeem points for travel with no blackout dates, cash back or gift cards.
- Get 75% more points on the base earn of every purchase you make when you’re a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 2.62 points for every $1 you spend and 4.12 points per every $1 you spend at the Bank of America® Travel Center.
Pros
- No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
- No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
- 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
- Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.
Cons
- Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
- Short 0% APR introductory period: The Bank of America Business Advantage Travel Rewards World Mastercard® offers 0% APR for the first nine billing cycles from opening an account—this is a disadvantage if you need a longer 0% APR period.
- No 0% APR on balance transfers: The introductory 0% APR only applies to purchases—if you need to transfer a balance from another credit card, you’ll need to pay an APR ranging from 12.24% to 22.24%.
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
Intro APR
0% for 9 billing cycles
Regular APR
14.49% to 24.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Earn 30,000 bonus points when you make at least $3,000 in net purchases within 90 days of your account opening, which can be redeemed for a $300 statement credit toward travel purchases.
- 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.
- Earn 3 points per every dollar spent on travel purchases like car, hotel, and airline booked through the Bank of America® Travel Center.
- No annual fee and no international transaction fees.
- 0% Introductory APR on purchases for your first nine billing cycles.
- Redeem points for travel with no blackout dates, cash back or gift cards.
- Get 75% more points on the base earn of every purchase you make when you’re a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 2.62 points for every $1 you spend and 4.12 points per every $1 you spend at the Bank of America® Travel Center.
Pros
- No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
- No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
- 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
- Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.
Cons
- Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
- Short 0% APR introductory period: The Bank of America Business Advantage Travel Rewards World Mastercard® offers 0% APR for the first nine billing cycles from opening an account—this is a disadvantage if you need a longer 0% APR period.
- No 0% APR on balance transfers: The introductory 0% APR only applies to purchases—if you need to transfer a balance from another credit card, you’ll need to pay an APR ranging from 12.24% to 22.24%.
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
How We Evaluate Travel Rewards Business Credit Cards
When grading small business credit cards like the Bank of America Business Advantage Travel Rewards World Mastercard® credit card for travel rewards, we first consider the ongoing rewards, introductory rewards, and additional features. We also take into account the card’s annual fee and its introductory and ongoing annual percentage rates (APRs).
| Grading Criteria | ||
|---|---|---|
Ongoing Rewards | ||
Introductory Rewards | ||
Additional Features | ||
Annual Fee | ||
Introductory APR | ||
Ongoing APR | ||
| Total Score |
Also, if you prefer another credit card from Bank of America, check out our review of the best Bank of America business credit cards. Alternatively, you may also want to look at our list of the best small business credit cards to find other options.
Who Bank of America Business Advantage Travel Rewards World Mastercard® Is Best For
- Business owners who travel frequently: You can earn 3x points when you book your travel through the Bank of America® Travel Center and enjoy zero foreign transaction fees on purchases made outside of the United States.
- Business owners who are members of Preferred Rewards for Business: Preferred Rewards for Business members can get 75% more points for every purchase, which is equal to 2.62 points on all purchases and 5.25 points for every dollar spent at the Bank of America® Travel Center.
Bank of America Business Advantage Travel Rewards World Mastercard® Fees
APR
- Introductory APR: 0% APR for nine billing cycles on purchases after account opening
- Ongoing APR: 12.49% to 22.49% variable, which changes with the prime rate
- Cash advance APR: 24.49% variable, which changes with the prime rate
- Balance transfer APR: 12.49% to 22.49% variable, which changes with the prime rate
- Penalty APR: None
Fees
- Grace period: Due date is at least 25 days from your statement closing date
- Annual fee: None
- Balance transfer fee: Either 4% of the amount of the transfer or $10, whichever is greater
- Foreign transaction fee: None
- Cash advance fee: Either 4% of the cash advance amount or $10, whichever is greater
- International transaction: None
- Late payment: $19 if balance is less than or equal to $100 / $29 if $100.01 to $1,000 / $39 if $1,000.01 to $5,000 / $49 if greater than $5,000
Bank of America Business Advantage Travel Rewards World Mastercard® Rewards
- Welcome offer: 30,000 bonus points after spending at least $3,000 in purchases within the first 90 days after account opening, which can be redeemed via a $300 statement credit toward either travel or dining related purchases
- 3 points for every dollar spent when you book a rental car, hotel stay, or airfare through the Bank of America® Travel Center
- Unlimited 1.5 points for every $1 you spend on all purchases, anytime, anywhere
- Preferred Rewards for Business offers up to an unlimited 2.62 points on all purchases, and up to 5.25 points for every dollar spent at the Bank of America® Travel Center—exclusive for members of Preferred Rewards for Business Platinum Honors tier
You can redeem your points for travel or travel credits. Points for travel credit must be redeemed within 12 months of the travel purchase. You can also redeem for cash back in the form of a statement credit, a deposit into your Bank of America checking or savings account or check by mail.
How To Make Payments in the Bank of America Business Advantage Travel Rewards World Mastercard®
- Website: Login to the Bank of America’s Online Banking site and select “Bill Pay” tab and follow the prompts
- Mobile device: Log in to the Bank of America’s mobile app, select your business credit card and click “Make a payment”
- Financial center or ATM: Drop off your payment at any Bank of America financial center or make a payment at one of the ATMs available.
- Phone: Call (800) 236-6497 and follow the prompts. There’s no fee to make a payment by phone
- Mail: Pay your business credit card bill using the following address:
Business Card Payments
Bank of America Business Card
PO Box 15710
Wilmington, DE 19850-5710
Bank of America Business Advantage Travel Rewards World Mastercard® Additional Features
Travel & Emergency Services
Bank of America services your business needs, including $1 million in travel accident insurance, lost luggage reimbursement, trip cancellation coverage, and trip delay reimbursement.
Balance ConnectTM for Overdraft Protection
One of the optional services the Bank of America is offering would be overdraft protection through Balance ConnectTM. This helps you prevent declined purchases, returned checks or other overdrafts after linking your Bank of America Business Advantage Travel Rewards World Mastercard® to a Bank of America business checking account.
Paperless Statement Option
Business owners can opt to choose paperless credit card statements and increase account security while reducing paper consumption.
Zero Liability Protection
Bank of America provides liability protection for unauthorized transactions, added protection for certain purchases against loss, damage, theft, or fire, and extended warranty coverage.
Pros & Cons of the Bank of America Business Advantage Travel Rewards World Mastercard®
| PROS | CONS |
|---|---|
| No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses. | Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases. |
| No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates. | Short 0% APR introductory period: The Bank of America Business Advantage Travel Rewards World Mastercard® offers 0% APR for the first nine billing cycles from opening an account—this is a disadvantage if you need a longer 0% APR period. |
| 3x points on travel: You can earn 3x points for every dollar spent when you book your travel―car, hotel, or airline―through the Bank of America® Travel Center. | No 0% APR on balance transfers: The introductory 0% APR only applies to purchases—if you need to transfer a balance from another credit card, you’ll need to pay an APR ranging from 12.49% to 22.49%. |
| Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you’ll earn 30,000 bonus points and later these can be redeemed via a $300 statement credit towards either travel or dining related purchases | |
Bank of America Business Advantage Travel Rewards World Mastercard® Alternatives
Capital One® Spark® Miles for Business
The Capital One® Spark® Miles for Business offers a simple cash back mechanism: 2x miles on all business purchases. You can also earn 5x miles for every dollar spent on booking hotels and rental cars with Capital One. There’s also a welcome offer being offered to new cardholders where you can earn 50,000 miles, equivalent to $500 in travel after spending $4,500 on purchases within the first three months after account opening. These features were our basis for choosing this business credit card as our top pick for the best business credit card for travel and leading business credit card for miles.
If this Capital One business credit card isn’t for you, check out our article on the best Capital One business credit cards.
Capital One® Spark® Miles for Business
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Unlimited 2x miles with every swipe
Intro APR
N/A
Regular APR
22.49% (Variable)
Annual Fee
$0 intro for first year; $95 after that
Credit Needed
Excellent, Good
- Introductory reward worth $500 in travel after you spend $4,500 within the first three months
- 2x miles per $1 spent
- Issue employee cards for free
Pros
- No foreign transaction fees
- TSA PreCheck® or Global Entry application fee credit
Cons
- You’ll pay an annual fee after the first year
- Doesn’t offer interest-free financing
- Airport security screening reimbursement: Either a $100 statement credit for Global Entry or an $85 statement credit for TSA PreCheck® once every four years.
- Purchase assurance: Most purchases made entirely with your card are covered if damaged or stolen within 90 days from the date of purchase. Coverage is limited to $10,000 per claim and $50,000 per cardholder account per 12 month period.
- Extended warranty coverage: Doubles the original warranty time period and duplicates the coverage of the original manufacturer’s warranty up to a maximum of 12 months on most items you purchase.
- Travel medical emergency assistance: Provide referrals to medical services if you have a medical emergency while traveling. You’re covered if you’re 100 or more miles away from home and from the day you leave until midnight of the 60th day of your trip, or the day you return to your city of residence, whichever is sooner.
Intro APR
N/A
Regular APR
22.49% (Variable)
Annual Fee
$0 intro for first year; $95 after that
Credit Needed
Excellent, Good
- Introductory reward worth $500 in travel after you spend $4,500 within the first three months
- 2x miles per $1 spent
- Issue employee cards for free
Pros
- No foreign transaction fees
- TSA PreCheck® or Global Entry application fee credit
Cons
- You’ll pay an annual fee after the first year
- Doesn’t offer interest-free financing
- Airport security screening reimbursement: Either a $100 statement credit for Global Entry or an $85 statement credit for TSA PreCheck® once every four years.
- Purchase assurance: Most purchases made entirely with your card are covered if damaged or stolen within 90 days from the date of purchase. Coverage is limited to $10,000 per claim and $50,000 per cardholder account per 12 month period.
- Extended warranty coverage: Doubles the original warranty time period and duplicates the coverage of the original manufacturer’s warranty up to a maximum of 12 months on most items you purchase.
- Travel medical emergency assistance: Provide referrals to medical services if you have a medical emergency while traveling. You’re covered if you’re 100 or more miles away from home and from the day you leave until midnight of the 60th day of your trip, or the day you return to your city of residence, whichever is sooner.
American Express Business Platinum® Card
The American Express Business Platinum® Card is a great alternative if you can pay your balance in full every month and need premium travel perks and rewards. It offers 5x points on flights and prepaid hotel expenses booked through AmexTravel.com. You’ll also have complimentary access to more than 1,300 airport lounges globally. It isn’t surprising that this is our top-recommended business credit card with airport lounge access and one of our choices for the best business credit card for miles.
If this American Express business credit card isn’t for you, check out our guide on the leading American Express business credit cards.
The Business Platinum Card® from American Express
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Gaining access to unrivaled travel rewards and luxury travel perks like airport lounge access
Intro APR
N/A
Regular APR
17.24% - 25.24% Variable
Annual Fee
$695
Credit Needed
Good, Excellent
- Welcome Offer: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
- Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases.
- Earn 1.5X points (that’s an extra half point per dollar) on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
- Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
- $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for checked baggage fees, lounge day passes, and more at one selected airline.
- $189 CLEAR® Credit: Use your Card and get up to $189 back per year on your CLEAR® membership. CLEAR® is available at more than 50 U.S. airports and stadiums.
- The American Express Global Lounge Collection® can provide an escape at the airport. With more than 1,400 airport lounges across 140 countries and counting, you have more lounge location options than any other credit card on the market as of 9/2021.
- $695 Annual Fee.
- Terms Apply.
Pros
- Premium travel rewards
- Free access to more than 1,300 airport lounges worldwide
- No foreign transaction fees
Cons
- Balance is due in full monthly
- High annual fee
- American Express lounges: Free access to American Express’ network of Centurion lounges located in slightly less than a dozen United States airports.
- Other airport lounges: Priority Pass Select membership, which gets you free access to more than 1,300 lounges worldwide for you and two guests.
- Airport screening: Either a $100 statement credit for Global Entry every four years or $85 statement credit for TSA PreCheck® once every 4 1/2 years.
- Travel credit: Up to $200 annual statement credit toward air travel expenses like baggage fees and inflight food and drink.
- Rental status: Elite status at a number of car rental agencies.
- Free Wi-Fi: 10 annual free Gogo inflight Wi-Fi passes.
- Rebate for redeemed points: 35% points rebate if you book a business or first-class flight, up to 500,000 bonus points per calendar year.
- Dell statement credit: Up to $400 in statement credits annually for Dell purchases.
Intro APR
N/A
Regular APR
17.24% - 25.24% Variable
Annual Fee
$695
Credit Needed
Good, Excellent
- Welcome Offer: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
- Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases.
- Earn 1.5X points (that’s an extra half point per dollar) on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
- Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
- $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for checked baggage fees, lounge day passes, and more at one selected airline.
- $189 CLEAR® Credit: Use your Card and get up to $189 back per year on your CLEAR® membership. CLEAR® is available at more than 50 U.S. airports and stadiums.
- The American Express Global Lounge Collection® can provide an escape at the airport. With more than 1,400 airport lounges across 140 countries and counting, you have more lounge location options than any other credit card on the market as of 9/2021.
- $695 Annual Fee.
- Terms Apply.
Pros
- Premium travel rewards
- Free access to more than 1,300 airport lounges worldwide
- No foreign transaction fees
Cons
- Balance is due in full monthly
- High annual fee
- American Express lounges: Free access to American Express’ network of Centurion lounges located in slightly less than a dozen United States airports.
- Other airport lounges: Priority Pass Select membership, which gets you free access to more than 1,300 lounges worldwide for you and two guests.
- Airport screening: Either a $100 statement credit for Global Entry every four years or $85 statement credit for TSA PreCheck® once every 4 1/2 years.
- Travel credit: Up to $200 annual statement credit toward air travel expenses like baggage fees and inflight food and drink.
- Rental status: Elite status at a number of car rental agencies.
- Free Wi-Fi: 10 annual free Gogo inflight Wi-Fi passes.
- Rebate for redeemed points: 35% points rebate if you book a business or first-class flight, up to 500,000 bonus points per calendar year.
- Dell statement credit: Up to $400 in statement credits annually for Dell purchases.
Chase Ink Business Cash® Credit Card
The Chase Ink Business Cash® Credit Card is best for businesses with no more than $25,000 in expenses for office supplies, internet, cable, and phone services per year. You can earn 5% cash back after spending $25,000 worth of combined purchases at office supply stores and internet, cable, and phone services for every anniversary year, then 1% after. In addition, you can also earn 2% cash back on the first $25,000 worth of combined purchases at gas stations and restaurants for each anniversary year, then 1% thereafter. You can also enjoy a 0% introductory APR on purchases for the first 12 months after opening an account. These are what made us choose this business credit card as our top-recommended credit cards for nonprofits.
If this Chase business credit card isn’t for you, see our list of the best Chase business credit cards.
Ink Business Cash® Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Office-based businesses that want top cash back rewards
Intro APR
0% Intro APR on Purchases
Regular APR
15.49% - 21.49% Variable
Annual Fee
$0
Credit Needed
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- 0% introductory APR for 12 months on purchases
Pros
- Top rewards for office supply spending
- Introductory APR on purchases
- Cash sign-up bonus
Cons
- 0% APR doesn’t apply to balance transfers
- High balance transfer fee of 5%
- Designed mainly for office-oriented companies
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the United States and abroad.
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year.
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of 3 years or less.
Intro APR
0% Intro APR on Purchases
Regular APR
15.49% - 21.49% Variable
Annual Fee
$0
Credit Needed
Good, Excellent
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- 0% introductory APR for 12 months on purchases
Pros
- Top rewards for office supply spending
- Introductory APR on purchases
- Cash sign-up bonus
Cons
- 0% APR doesn’t apply to balance transfers
- High balance transfer fee of 5%
- Designed mainly for office-oriented companies
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the United States and abroad.
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year.
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of 3 years or less.
Bottom Line
The Bank of America Business Advantage Travel Rewards World Mastercard® is a no-annual-fee travel rewards card that’s best for business owners who have a significant existing banking relationship with Bank of America. If this card doesn’t meet your needs, check out our Credit Card Marketplace to find the right card.
