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Bank of America® Business Advantage Travel Rewards World Mastercard® Review

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By Benilyn Formoso - Suralta on September 10, 2020

Benilyn has over a decade of experience as a banking officer. Her expertise is featured throughout Fit Small Business in personal finance, credit card, and real estate investing content.

This article is part of a larger series on Best Small Business Credit Cards.

Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

Apply Now

on Bank of America® Business Advantage Travel Rewards World Mastercard® credit card's secure website.

Rating 4 4
?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% APR for nine billing cycles on purchases Regular APR Annual Fee Credit Needed
0%
9 billing cycles 		12.24% - 22.24% Variable APR on purchases $0.00 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 towards 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 (car, hotel, 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 9 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
  • 3x points on travel
  • 0% APR on purchases
  • No blackout dates on travel
Cons
  • Low ongoing rewards on non-travel
  • Low introductory bonus
  • No 0% APR on balance transfers

Bank of American does not 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.

The Bank of America® Business Advantage Travel Rewards World Mastercard® is an excellent credit card designed for business owners who have frequent travel expenses. This small business credit card offers several travel perks, and it allows you to use points to pay for travel with no blackout dates through the Bank of America® Travel Center.

Who Bank of America® Business Advantage Travel Rewards World Mastercard® Is Right For

  • Owners looking for a starter travel card: The Bank of America® Business Advantage Travel Rewards World Mastercard® offers 3x points on travel at unlimited 1.5 points for other purchases with no annual fee, which makes this a good starter travel credit card option.
  • Preferred Rewards for Business Platinum Honors Members: The Bank of America® Business Advantage Travel Rewards World Mastercard® is best for owners with thousands of dollars of deposit at Bank of America. Preferred Rewards members can get 75% more points for every purchase, which is equal to 2.62 points on all purchases and 4.12 points for every dollar spent at the Bank of America® Travel Center.

How We Evaluate Travel Rewards Business Credit Cards

When grading travel rewards small business credit cards like the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card, we weigh ongoing rewards, introductory rewards, and additional features heaviest. We also consider the card’s annual fee and its introductory and ongoing annual percentage rates (APRs).

Grading Criteria
Card Score
Highest Possible Score
Ongoing Rewards
22
25
Introductory Rewards
18
25
Additional Features
20
25
Annual Fee
15
15
Introductory APR
4
5
Ongoing APR
5
5
Total Score
84
100

Bank of America® Business Advantage Travel Rewards World Mastercard® Fees

  • Introductory APR: 0% APR for nine billing cycles on purchases
  • Ongoing APR: 12.24% to 22.24% variable, which changes with the prime rate
  • 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: 4% of the advance or $10, whichever is greater; APR is 24.24%

Bank of America® Business Advantage Travel Rewards World Mastercard® Rewards

  • 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
  • Business Advantage Relationship Rewards offers 2.62 points on all purchases and 4.12 points for every dollar spent at the Bank of America® Travel Center, exclusive for members of Preferred Rewards for Business Platinum Honors tier

Welcome offer: Earn 30,000 bonus points when you spend at least $3,000 in net purchases within 90 days of account opening; you can redeem this for a $300 credit towards travel purchases on your monthly bill

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, as a deposit into your Bank of America checking or savings account, or via check by mail.

Bank of America® Business Advantage Travel Rewards World Mastercard® Features

Auto Rental Insurance

When you rent a car using your Bank of America® Business Advantage Travel Rewards World Mastercard® credit card, you’re covered in case of accident or theft. The coverage is primary, which means you can avoid a claim on your personal insurance in case of an accident. Refer to your guide to benefits for a full list of coverage and exclusions.

Travel Accident Insurance

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card provides travel accident insurance coverage up to $100,000 if you die or are seriously injured while traveling. To be eligible, the trip should be paid for entirely using your Bank of America business credit card. Refer to your guide to benefits to learn about coverage and exclusions.

Lost Luggage Reimbursement

When you pay for a trip using your Bank of America® Business Advantage Travel Rewards World Mastercard®, your luggage and its contents are covered with insurance in case they are lost or stolen. You can find more information on coverage and exclusions from your guide to benefits.

Trip Cancellation & Delay Coverage

You can receive reimbursement per person per trip if your plans are canceled for a covered reason when you use your Bank of America® Business Advantage Travel Rewards World Mastercard® credit card to pay for the trip. Nonrefundable travel expenses typically covered include fares, hotels, and tours. You’ll also be compensated if your trip is delayed, forcing you to find a hotel room or incur other expenses. Refer to your guide to benefits to learn about coverage and exclusions.

Overdraft Protection

If you have a Bank of America business checking account, you have the option to link it to your credit card to help prevent overdrafts. If you request overdraft protection, Bank of America will automatically transfer funds from your account to cover any overdrafts in multiples of $100. You must have sufficient available credit to cover the transaction. You will be charged an overdraft protection cash advance fee of $10 or 3% of the transaction, whichever is greater, and accrue interest on the advance.

Bank of America® Business Advantage Travel Rewards World Mastercard®  Alternatives

American Express Business Platinum® Card

The Business Platinum Card® from American Express

Apply Now

on The Business Platinum Card® from American Express's secure website.

See Rates and Fees

Fit Small Business Review
Rating 5 5
?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 Regular APR Annual Fee Credit Needed
N/A N/A $595 Good, Excellent
  • Earn 75,000 Membership Rewards® points after you spend $15,000 on qualifying purchases within your first 3 months of Card Membership.
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.
  • Get 50% more Membership Rewards® points. That's an extra half point per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.
  • Enroll to get up to $200 in statement credits annually by getting up to $100 semi-annually for U.S. purchases with Dell. Terms apply.
  • 35% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 35% of the points back, up to 500,000 bonus points per calendar year when you book on amextravel.com.
  • Terms Apply
Pros
  • Free access to over 1,200 airport lounges worldwide
  • Global Entry or TSA Pre✓® membership fee reimbursements
Cons
  • Balance is due in full monthly
  • Steep $595 annual fee
  • American Express lounges: Free access to American Express’ network of Centurion lounges located in slightly less than one dozen U.S. airports.
  • Other airport lounges: Priority Pass Select membership, which gets you free access to more than 1,000 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 Pre✓® once every 4½ years.
  • Travel credit: A $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 $200 in statement credits annually for Dell purchases.

Chase Ink Business CashSM Credit Card

Ink Business Cash℠ Credit Card

Apply Now

On Chase's Secure Website

Fit Small Business Review
Rating 5 5
?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% APR for 12 months on purchases Regular APR Annual Fee Credit Needed
0% Intro APR on Purchases 13.24% - 19.24% Variable $0 Good - Excellent
  • Earn $500 bonus cash back after you spend $3,000 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 card purchases with no limit to the amount you can earn
  • 0% introductory APR for 12 months on purchases
  • Employee cards at no additional cost
  • No Annual Fee

Note: The information related to the ChaseInk Business Cash℠ Credit Card Card has been collected by fitsmallbusiness.com and has not been reviewed or provided by the issuer of this card.

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 U.S. 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 U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less.

CitiBusiness® / AAdvantage® Platinum Select® World Mastercard®

CitiBusiness® / AAdvantage® Platinum Select® World Mastercard®

Apply Now

on Citi's Secure Website

Fit Small Business Review
Rating 4 4
?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: Frequent American Airlines flyers who want premium airline perks

Intro APR Regular APR Annual Fee Credit Needed
N/A 16.99% - 25.99% Variable $0 for the first year, then $99 Good - Excellent
  • 2 AAdvantage® miles on telecommunications, car rental, gas station purchases
  • 2 AAdvantage® mile on eligible American Airlines purchases
  • 1 AAdvantage® mile on other purchases
  • First checked bag free
  • Terms Apply
Pros
  • Excellent introductory bonus offer
  • Free first checked bag
  • Priority boarding on American Airlines flights
Cons
  • No airport lounge access
  • Blackout dates for select booking
  • Some rewards redemption fees may apply
  • Free checked bag: Check one bag for free for you and up to four companions traveling with you to domestic itineraries if they are listed on the same reservation
  • Preferred boarding: You and up to four traveling companions will be able to board once priority boarding is complete but before the rest of economy boards
  • American Airlines companion certificate: Earn one $99 domestic economy fare—plus $21.60 to $43.40 in government taxes and fees—after you make at least $30,000 in eligible purchases each 12-month period before your card anniversary date
  • Savings on inflight purchases: Receive a 25% discount on inflight food, beverage, and Wi-Fi purchases you make with your CitiBusiness credit card

Bottom Line

The Bank of America® Business Advantage Travel Rewards World Mastercard® is a travel rewards card that charges no annual fee. It’s best for business owners who are looking for a starter travel card and those who have a significant existing deposit with Bank of America. If this card doesn’t meet your needs, check out other best business credit cards to find the right card for you.

About the Author

Benilyn Formoso - Suralta

Benilyn Formoso-Suralta is a staff writer at Fit Small Business focusing on finance, accounting, and Small Business Loans. She brings with her 12 years of experience as a banking officer with the Bank of the Philippine Islands with expertise in consumer banking, real estate sales, and foreign exchanges.

@benilynformoso

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