Cardholders can earn up to 30,000 bonus points after spending at least $3,000 in the first 90 days of opening an account. These points can be redeemed for a $300 statement credit toward travel or dining expenses.
MoneyGeek’s Take
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card Review
Updated: October 21, 2024
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Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card
On Issuer's Site
Rewards Summary
Earn 1.5X pointsEarn unlimited 1.5 points for every $1 spent on purchases.
APR
17.99% - 27.99% variableAnnual Fee
$0Recommended Credit
740-850 (Excellent)Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
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Bank of America® Business Advantage Travel Rewards World Mastercard® credit card Overview
With the Bank of America Business Travel Rewards credit card, you can earn points on regular purchases and travel booked through the Bank of America Travel Center. Additionally, the 30,000 bonus points intro offer to cardholders that spend at least $3,000 in the first 90 days of user registration, is a notable incentive. These points can be redeemed for a $300 statement credit for travel or dining-related expenses.
Quick Take
- APR for purchases: 18.49% - 28.49% variable
- APR for cash advances: 29.49% variable
- $0 annual fee
- $0 foreign transaction fee
- Earn 30,000 bonus points by spending $3,000 on purchases in the first 90 days
- Earn 3X points per dollar on travel (car, hotel, airline) booked through Bank of America’s travel center
- All other purchases come with 1.5X points
- Redeem points as statement credit, to book travel through the Bank of America Travel Center, as cash back or to purchase gift cards
- Complimentary lost luggage reimbursement, travel accident insurance, trip delay reimbursement and trip cancellation coverage
Important Card Details
It's important to read the terms and conditions of any credit card before applying. That way, you understand all rates and fees specific to that card.
- For balances less than or equal to $100, a $19 fee applies.
- For balances between $100.01 and $1,000, a $29 fee applies.
- For balance between $1,000.01 to $5,000, a $39 fee applies.
- For balances greater than $5,000, a $49 fee applies.
Into APR
The card features a 0% intro APR for the first 9 billing cycles after you open your account, after which, a variable APR of 18.49% - 28.49% applies.
Regular APR
The variable APR on the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card ranges from 18.49% - 28.49%. This APR is subject to change depending on the current prime rate.
Balance Transfer APR and Fees
The card's variable APR for balance transfers ranges from 18.49% - 28.49%, depending on your personal or business creditworthiness when you open your account. This provider also charges balance transfer fees of $10 or 4% of the transaction amount, whichever is higher.
>>MORE: YOUR GUIDE TO CARRYING OUT BALANCE TRANSFERS WITH BANK OF AMERICA
Cash Transfer APR and Fees
The variable APR for cash transfers on this card is 29.49% and it varies with the market depending on the Prime Rate. Cash transfer fees of $10 or 4% of the transaction amount, whichever is greater, are also charged by this provider.
Penalty Fees
Bank of America charges the following late payments based on the leftover balance in your account.
Additional Benefits
Aside from the generous bonus features, the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has additional features. They are as follows:
- Travel and emergency services: The Bank of America Business Advantage Travel Reward credit card provides travel services for cardholders' business needs, such as $1 million in travel accident insurance, lost luggage reimbursement, trip cancellation coverage and trip delay reimbursement.
- $0 fraud liability: This provider has a $0 liability policy, which means they will pay for any unauthorized charges to your account.
- Fraud monitoring: This provider proactively bans any unusual patterns on your account to prevent fraud and notifies you of steps you may take to secure your account.
- Customer satisfaction: According to the 2021 J.D. Power Customer Satisfaction rating, Bank of America is slightly below average for customer service.
How the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card Compares To Other Cards
To put it simply, this credit card stacks up against other similar business credit cards that offer travel rewards. Whether or not this card is right for you will ultimately depend on your current credit score and how much you intend to use the credit card.
How the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card Compares
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
- APR for purchases: 18.49% - 28.49% variable
- APR for cash advances: 29.49% variable
- Annual fee and foreign transaction fees: $0
- Recommended Credit: Excellent
- Best for: Frequent travelers looking to save money on annual fees and foreign transaction fees
Wells Fargo Business Secured Credit Card
- APR for purchases: 15.15%
- APR for cash advances: *Prime Rate + 20.74%
- Annual fee and foreign transaction fees: $0
- Creditworthiness: Bad credit or no credit
- Best for: Businesses with little or no credit history
*Prime Rate is specific to Wells Fargo and is subject to change at any time. Currently, the prime rate is 3.50%.
Frequently Asked Questions
What is the average credit score needed to get approved for Bank of America® Business Advantage Travel Rewards World Mastercard® credit card?
This card requires an excellent credit score.
Does Bank of America® Business Advantage Travel Rewards World Mastercard® credit card report to all three credit bureaus?
Bank of America reports to all three of the major credit bureaus: TransUnion, Equifax and Experian.
Is the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card application process lengthy? Can you prequalify?
This card application takes approximately 5-10 minutes to complete. Your application can be processed within 24 hours of submission, but in certain cases, it may take up to 10 to 12 business days.
What information is needed to apply for Bank of America® Business Advantage Travel Rewards World Mastercard® credit card?
This provider requires you to provide some information, including personal information, business legal and financial information.
Does Bank of America® Business Advantage Travel Rewards World Mastercard® credit card have good customer service or satisfaction?
According to J.D. Power's customer satisfaction ratings, this provider received slightly below average ratings for customer satisfaction.
Does Bank of America® Business Advantage Travel Rewards World Mastercard® credit card have a mobile app or the option to pay or manage your account online?
Yes, the Bank of America mobile app is available for download on Google PlayStore and Apple AppStore.
Does Bank of America® Business Advantage Travel Rewards World Mastercard® credit card raise credit limits automatically or charge for limit increases?
You may request an increase in your credit limit by calling the toll-free number on the back of your card. You can also complete this request online by logging in to your Online Banking account, selecting your credit card account, and selecting the information & services tab.
Does Bank of America® Business Advantage Travel Rewards World Mastercard® credit card offer the options to freeze your credit/account or have other security features?
When this provider detects odd activity in your account, it will instantly freeze it and alert you.
Does Bank of America offer other credit cards besides Bank of America® Business Advantage Travel Rewards World Mastercard® credit card?
Yes, it does. Some other popular Bank of America credit cards include the Bank of America® Customized Cash Rewards credit card, the Bank of America Unlimited Cash Rewards, the BankAmericard and the Bank of America® Premium Rewards® credit card®.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
sources
- Bank of America. "Business Advantage." Accessed April 13, 2022.
- Bank of America. "Credit Card Account Management FAQs." Accessed April 13, 2022.
- Consumer Finance Protection Bureau. "Credit card agreement database." Accessed October 22, 2023.
- J.D. Power. "2021 U.S. Credit Card Satisfaction Study." Accessed May 2, 2022.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.