Name: Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
Brand: Bank of America®
SKU: 68377

I remember being impressed when someone flashed a business credit card. “Yeah, I’ll get this,” they’d say with authority, slapping it down after a dinner out.

“It’s an expense, and I get the points.” Gosh. It seemed so grown-up; so important!

Now, I know that these products are for anyone who runs their own business, whether full-time, part-time, or on the side. And you can do anything, too, as long as you’re running a business.

The card you get, though, needs to be right for you and your venture. The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is an easy-to-ride workhorse.

With no annual fee, no international transaction fees, and rewards that can increase when you qualify for Preferred Rewards for Business, you can get a lot out of it.

Here’s what you need to know, including who it might be best for and how to apply if you’re so inclined.

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is different because it’s a general travel card that earns points as you charge.

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

CardRates Expert Rating ★★★★★ 4.8/5.0

at Bank Of America’ssecure website

Our Review »

50,000 Online Bonus Points Offer: Earn 50,000 online bonus points after you make at least $5,000 in purchases in the first 90 days of your account opening.
Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time – no matter how much you spend, or join Preferred Rewards for Business for no fee, and earn up to an unlimited 2.62 points for every $1 spent on all purchases if you have a Bank of America® business checking account and qualify for our highest Preferred Rewards for Business tier.
No limit to the amount of points you can earn and points don’t expire as long as your account remains open.
No annual fee and no international transaction fees.
Redeem points for a statement credit to offset travel and dining purchases, and for travel when booked through the Bank of America® Travel Center.
0% Introductory APR on purchases for your first 7 billing cycles. After the intro APR offer ends, a Variable APR that’s currently 16.99% to 26.99% will apply.
Contactless Cards – The security of a chip card, with the convenience of a tap.
This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.

Intro (Purchases) 0% Intro APR for 7 billing cycles for purchases

Intro (Transfers) N/A

Regular APR 16.99% – 26.99% Variable APR on purchases and balance transfers

Annual Fee $0.00

Credit Needed Excellent

You will earn unlimited 1.5 points for every $1 spent on everyday purchases and 3 points for every $1 spent on travel purchases booked through the Bank of America Travel Center. There is no annual fee and no international transaction fee.

The rewards can increase if you have an eligible Bank of America business checking account and qualify for Preferred Rewards for Business. Depending on the tier you reach, you can earn 25%, 50%, or 75% more rewards.

There is also a generous introductory offer for this card, and those points can be redeemed for a healthy statement credit toward travel or dining purchases as well as other redemption options.

Annual and Foreign Transaction Fees

Annual fees are perfectly fine when you get more out of the card than it costs you. Not everyone wants to go to the trouble of maximizing those benefits, though, which can make a card with no annual fee appealing.

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has no annual fee. That means you won’t have to worry about hitting a certain rewards threshold to break even every year.

It also has no foreign transaction fees, which makes it useful if you plan on traveling internationally or will be making purchases from foreign merchants.

Introductory Offers

As an enticement to apply, some card issuers offer a large amount of rewards after you spend a certain amount of money within a specific timeframe.

Bank of America has a substantial introductory offer for this card. You’ll score a bonus worth hundreds of dollars after meeting the spending conditions.

Another attractive new card feature? The card’s introductory 0% APR on purchases before the regular rate kicks in.

Employee Cards & Spend Limits

If you get a Bank of America® Business Advantage Travel Rewards World Mastercard® credit card, you can give people who work for you employee cards at no additional cost.

You will always have complete control of those cards, too. Not only can you set different limits for each user (which you can adjust at any time), but you’ll also be able to monitor their transactions and track their spending as they go along.

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is a flat-rate card, so there are no spending categories or quarters to remember. Instead, you earn 1.5 points for every dollar you spend on everyday purchases, from electronics to office supplies.

Therefore, if you charge $15,000 in operating expenses in a month, Bank of America will add 22,500 points to your rewards balance.

The exception is when you make eligible travel purchases through the Bank of America Travel Center. When you do, you earn 3 points for every dollar charged.

The biggest opportunity to increase your earning rate comes through Preferred Rewards for Business. There are three tiers to this program: Gold, Platinum, and Platinum Honors.

To qualify, you will need an active, eligible Bank of America business checking account and a three-month combined daily balance in qualifying Bank of America business deposit accounts and/or Merrill business investment accounts.

Gold members receive a 25% rewards bonus. Platinum members receive a 50% bonus, and Platinum Honors members receive a 75% bonus. That changes the card’s earning rates:

How can this play out? Imagine as a non-member you spend $20,000 in eligible Travel Center purchases. That would earn you 60,000 base points.

However, if you’re a Gold member, you would earn 75,000 points. As a Platinum member, you’d get 90,000 points, and if you were a Platinum Honors member, you would earn 105,000 points.

Preferred Rewards for Business Program

With Preferred Rewards for Business, Bank of America’s loyalty program, you can earn additional rewards and receive additional benefits.

For example, you may enjoy waived fees on deposit accounts, discounted loans, merchant processing, and payroll services, depending on the tier you’re in. The tiers are:

To qualify, you need an active, eligible Bank of America business checking account and the required three-month combined daily balance in qualifying Bank of America business deposit accounts and/or Merrill business investment accounts.

Bank of America Travel Center Boost

Now, for the recently revamped Bank of America Travel Center. As a Bank of America® Business Advantage Travel Rewards World Mastercard® credit card cardholder, you have access to this robust online travel platform. Log in, and you can plan and pay for many elements of your trips.

Through the Travel Center, you can book accommodations such as hotels and resorts, flights, car rentals, ground transportation, and activities. At checkout, you can pay with your card, redeem rewards, or combine rewards with a card payment.

A particularly attractive feature is the card’s earning rate. Instead of the standard 1.5 points per dollar on everyday purchases, you’ll earn 3 points per dollar on eligible travel purchases booked through the Bank of America Travel Center.

That’s a strong rate for a card with no annual fee, particularly because it applies to flights, which some travel cards exclude from the higher earnings rate.

If you’re enrolled in Preferred Rewards for Business, the earning rate at the Travel Center can be even higher. Gold members earn 3.75 points per dollar on eligible purchases, Platinum members earn 4.5 points, and Platinum Honors members earn 5.25 points. And, yes, that’s a big deal.

To keep everything organized and manage your business banking, you’ll have access to Business Advantage 360, Bank of America’s small-business online banking platform.

Business Advantage 360 is extremely easy to use. All of your relevant Bank of America accounts and digital tools live here. You’ll be able to manage accounts, view transactions, add employee card users (and customize their access), and make payments.

You also have access to the Cash Flow Monitor, which gives you cash-flow projections, transaction monitoring, and category balances.

Connected Apps allow you to add external accounting and payroll apps, such as QuickBooks, Xero, and ADP® Payroll, directly to the dashboard.

With Remote Deposit Online, you can deposit checks anywhere, any time. With Merchant Services, you can monitor processing activity, view reports, and manage transactions.

Want to make sure your business credit is in good shape? For educational purposes, you can view your Dun & Bradstreet business credit scores on the platform.

There may come a time when you need to speak with someone on the phone. You have access to specialists during standard extended business hours, but some technical and card teams are open 24/7:

You also have access to automated assistance 24/7 via automated phone prompts or the Erica virtual assistant inside the Bank of America Mobile App. If you need information about account balances, transaction history, and simple banking tasks, Erica (as usual) can probably help.

Starting to get interested in the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card? Before applying, make sure you are eligible.

You’ll be supplying plenty of business and personal information in the application, including information about your business and its ownership, and you will certify that you are authorized to borrow on behalf of the business.

Bank of America will also check your personal credit rating as a qualifying factor. Although it does not publish a specific score that is required, it should be in the excellent range.

Check your FICO scores, which range from 300 to 850. If your numbers aren’t close to the top, take action to bring them up. Your income will also be considered, since the bank will need to ensure that you can afford the monthly payments associated with the credit line.

You will also need to agree to a personal guarantee, which means that you will be personally responsible for this card. The account will show up on your consumer credit report and be factored into your credit scores.

As with any business credit card, this one requires a lot of information during the application process. Bank of America wants to get a clear picture of your personal credit history, as well as your business income.

So, settle in and get all of your documents ready. Here are the steps I went through to apply for the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card.

Step 1: Click ‘Apply Now’

I start at the Bank of America main page and locate the “Bank of America® Business Advantage Travel Rewards World Mastercard® credit card.”

Step 2: Read More About the Card

Now I see a page that gives me a bullet point overview of the card’s attributes. I read that I can earn bonus points, as well as a description about how the rewards points are structured, including the ability to earn up to 75% more by enrolling in the Preferred Rewards for Business program.

Instead of having to click through to another screen, I see that I will just scroll down to start filling out the application form.

Step 3: Legal Business Name and Address

On this portion of the page, I see that I am to submit a lot of information about my business. Above it, I read that this process should only take between five and ten minutes.

In the first rectangle box, I am asked to type the legal name of my business, and what name I want to have on the credit card.

I see “Yes” or “No” options, with a question above asking if my business has a “doing business as” (DBA) name that is different from the legal business name. If I select “Yes,” I will add that.

I am asked to choose “Yes” or “No,” indicating whether this is my main office or headquarters. There is also a box to check if my business mailing address is different from the physical address.

Step 4: Financial Information About My Business

Now I come to an area that asks me more about my business, including legal and financial information.

I am to list my Federal Tax ID number in the first field. When I click the question button, I read that it is also known as Employer Identification Number (EIN), but if I don’t have one because I’m a sole proprietor, I should list my Social Security number.

I then come to another drop-down menu, this one asking about my business structure. I click on it, and it shows nine different options:

Then I am asked if my business is publicly traded and can select either “Yes” or “No”.

Another drop-down menu asks me to specify the country of operations (essentially, where I primarily conduct business).

The next field asks how many employees I have. By clicking on the question mark, I see that my employees may be full-time, part-time, or seasonal employees, as well as contractors who work primarily for my business.

After that, I see a field asking about the type of industry I’m in, with a drop-down menu of options, starting with agriculture and ending with wholesale trade.

Then, I am to enter my gross annual sales, and the month and year my business was established.

A series of “Yes” or “No” questions follows. They start with asking if my business is a non-operating entity (such as a holding entity, trust, estate, personal investment company, or personal holding company).

After that, I answer if my business has any non-US business activity, if it operates as a charity or non-governmental organization, and if my business is a nonprofit. The last asks if my business engages in internet gambling activities.

Step 5: Personal Information

Here I see that I’ve reached the personal information section of the application.

I see that I have to click on a box assuring that I am authorized to borrow on behalf of the business. A blue icon underneath that explains that Bank of America will verify the information I list.

The next series of fields invites me to list my name, job title, and how my name should appear on the card.

I am to click either “Yes” or “No” to indicate whether or not the residential address is the same as the business address, and check another box if the mailing address is different from the residential address.

After that, I respond “Yes” or “No” when asked if I am a US citizen and if I have dual citizenship. A drop-down menu asks me for my country of residence.

A blue icon gives me information about my total gross household income, which I will be listing in the next field.

I read that my gross household income is what I “earn or can expect to earn in a year before taxes.” It provides examples, such as salary, wages, overtime, bonuses, interest, dividends, rental income, or retirement benefits.

I can list alimony, child support, or separate maintenance income, too. Also, if I include nontaxable income, I should increase that amount by 25%. And I read that if I’m 21 or older, I may include income from others that I can reasonably access to pay my monthly statements.

In the next series of fields, I list my occupation, my housing status, and my monthly housing payment. Another field asks what percentage of ownership I have in the business, and, after that, to list who the controlling manager is.

Step 6: Read the Terms & Conditions

There is not much to do here except read. But it is important because it is not just providing a very detailed explanation about this account; it shows up at the top that I am confirming that everything I have supplied on the application is correct.

In bold text, it states that I will be personally, in my individual capacity, liable for all charges, fees, and finance charges I incur on the card.

Step 7: Final Acknowledgments and Submission

This is the last part of the application. Here, I acknowledge that I have reviewed all of the details about this card and that I agree to submit my application subject to the terms and conditions, and that I agree to paperless statements and documents.

I click a box underneath that to confirm that I have read and agreed to the above terms.

If I click the blue “Continue” button, my application will be submitted. But I also see that there is an option in gray with blue letters that I can click if I want to save my application.

Be aware that application processing can take as little as 24 hours, but often takes 10 to 12 business days. If Bank of America has any questions or needs documentation, it will contact you.

It would be marvelous to know from the get-go how much of a credit line you would be offered. It doesn’t work that way, though. As with all credit cards (including those for business), Bank of America will set your initial credit lines based on your creditworthiness and business revenue.

To start, $10,000 is common, but your limit could be higher or lower depending on your specific situation.

It’s best to wait at least 6 to 12 months before you request an increase. When ready, you can either use the Business Advantage 360 mobile platform and look for the credit line increase option, or call the number on the back of your business card to make the request.

Bank of America will then consider your overall profile, including your business revenue and profitability, length of time in business, current personal credit history and score, debt and credit utilization, your relationship with Bank of America, and the amount of additional credit you’re requesting.

The decision may not be instant, since the bank may take steps to verify the information you provided.

Of course, after you build up points, you’ll want to use them. You can redeem these rewards by signing into online banking or using your mobile banking app. When you do, go to the rewards section and choose “Redeem Points.”

You can redeem your points at any time, and they never expire, as long as you keep the account open and in good standing. Once you redeem them, though, that’s it. You can’t go back.

The best way to use your points is for a travel credit. It will be issued as a statement credit to directly offset qualifying travel or dining purchases you make with the card. At the basic rate, each point redeems at a value of 1 cent, so if you have 30,000, it would equal a $300 statement credit. That will certainly take the edge off a bill!

You do have to redeem in increments, though, with a minimum start of 2,500 points. Therefore, the lowest amount you can trade them in for is $25. When you initiate the redemption, it should post to your account within three business days.

As far as what you can use them for, the range is pretty extensive. Think hotels, flights, car rentals, cruises, ride-shares, taxis, tours, campground rentals, boat rentals, tolls and parking, amusement parks, aquariums, and zoos. Dining categories include restaurants, bars, lounges, nightclubs, fast food, and even catering businesses.

Just about anything that you purchased via the Bank of America Travel Center should qualify. If you’re at all confused, Bank of America keeps a current list of eligible purchases and any updates to values.

Outside of that, you don’t have to keep track. The merchant will code the transaction, and Bank of America will do the rest.

You can also redeem your points through the Travel Center to book any of your arrangements, as well as redeem for cash rewards and gift cards.

Careful with the cash rewards, however. You can prompt it as an electronic ACH deposit into an eligible bank account or request a check be sent to you, but the value is well under 1 cent per point.

You can find available gift cards when you log into your Bank of America account, and the redemption values vary. If you want to maximize this category, you may want to look for a gift card that is available at a discount.

Alas, no card is perfect for each applicant. The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card tends to be most compelling for a particular type of business owner.

That would be someone who wants a no-annual-fee card, spends regularly on business purchases, and can take advantage of Bank of America’s Travel Center and/or Preferred Rewards for Business.

This is a solid card for flat-rate rewards and can definitely help you whittle down travel and dining costs when you redeem your points as a statement credit. It’s also easy to manage, and if your cash assets in qualified accounts push you into Preferred Rewards for Business tiers, you can earn a lot without much effort.

You didn’t start a successful business by not comparing offers before committing, and your business credit card should be no different.

There are lots of options out there, but I’ll take a look at a couple of similar cards and give you the lowdown on what the offer (and where they may fall short of your expectations).

Capital One Venture Business

CardRates Expert Rating ★★★★★ 4.7/5.0

at Capital One’ssecure website

Our Review »

Earn a one-time welcome bonus of 100,000 miles once you spend $10,000 on purchases within the first 3 months from account opening
Earn unlimited 2X miles per dollar on every purchase, everywhere, no limits or category restrictions, and miles won’t expire for the life of the account
Receive up to $220 in credits: Receive an annual $50 travel credit for bookings through Capital One Business Travel, up to an annual $50 statement credit for purchases at qualifying advertising or software merchants, plus up to a $120 credit for Global Entry or TSA PreCheck® every four years. Terms and conditions apply
Unlimited 5X miles on hotels, vacation rentals and rental cars booked through Capital One Business Travel
Transfer your miles to 15+ travel loyalty programs
Redeem your miles instantly for any travel-related purchases, from flights and hotels to ride-sharing services
$95 annual fee
Free employee cards which also earn unlimited 2X miles from their purchases
Top rated mobile app

Intro (Purchases) N/A

Intro (Transfers) N/A

Regular APR 24.74% (Variable)

Annual Fee $95

Credit Needed Excellent

See Rates & Fees »

The Capital One Venture Business offers a higher everyday earning rate of 2 miles per dollar, plus 5 miles per dollar on hotels, vacation rentals, and rental cars booked through Capital One Business Travel. But unlike the Bank of America card, it charges an annual fee.

That said, it comes with travel and business purchase credits, and miles can be transferred to travel partners. I’d favor Venture Business for its redemption flexibility and stronger base rewards, while Bank of America wins for avoiding an annual fee or maximizing an existing banking relationship.

Ink Business Preferred® Credit Card

CardRates Expert Rating ★★★★★ 4.7/5.0

at Chase’ssecure website

Our Review »

Earn 90k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That’s $900 cash back or $1,125 toward travel when redeemed through Chase Travel℠
Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
Round-the-clock monitoring for unusual credit card purchases
With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
Redeem points for cash back, gift cards, travel and more – your points don’t expire as long as your account is open
Points are worth more when you redeem for travel through Chase Travel℠
Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
Member FDIC

Intro (Purchases) N/A

Intro (Transfers) N/A

Regular APR 20.24% – 26.24% Variable

Annual Fee $95

Credit Needed Good/Excellent

This business card also has a $95 annual fee. With it, you will earn 3 points per dollar on the first $150,000 spent in categories such as shipping, internet, phone service, and travel. You will get 1 point for every dollar you spend on all other eligible purchases.

Its array of benefits includes excellent travel and cellphone protection, and no foreign transaction fee. It’s a good card, but the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card can come out ahead because it doesn’t cap your rewards.

And if you are a high-tier Preferred Rewards for Business member, points that are normally worth 3 per dollar when purchasing through the Travel Center can rise to 5.25.

Many small-business credit cards are equipped with all kinds of bells and whistles. I suggest considering the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card if you’re looking for a card with no annual fee and no international transaction fees, particularly if you already use Bank of America for your business banking.

The card becomes considerably more compelling if you qualify for Preferred Rewards for Business. Depending on the tier you hit, you can increase your reward potential. Not only can you avoid an expensive annual fee, but the higher rewards that don’t cap out are amazing. The mobile app, which can help to keep your business in order, is also great.

I love the Travel Center, not just for the ability to earn at least 3 points for every dollar on so many expenses (including flights), but also because it’s easy to use. You can redeem your points as statement credits for the travel and dining purchases you make, too, which can keep costs down.

So, who is the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card not right for? I would not suggest it for small-business owners who primarily want their rewards to come in cash back rather than points. And if you have damaged credit and don’t have a solid income quite yet, avoid applying until you get that sorted out.

In the end, if you meet the qualifications and want to be reimbursed for travel and dining, consider the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card. You may soon be impressing the next generation of small business owners as you pick up the check with a flourish.

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

What to Expect With the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

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

Annual and Foreign Transaction Fees

Introductory Offers

Employee Cards & Spend Limits

Business Rewards and Points Multipliers

Preferred Rewards for Business Program

Bank of America Travel Center Boost

Business Advantage 360 & Support Channels

What You Need to Qualify

How to Apply (Step-by-Step)

Step 1: Click ‘Apply Now’

Step 2: Read More About the Card

Step 3: Legal Business Name and Address

Step 4: Financial Information About My Business

Step 5: Personal Information

Step 6: Read the Terms & Conditions

Step 7: Final Acknowledgments and Submission

What Credit Limit to Expect

How to Redeem Travel Rewards Points

Pros and Cons

Pros

Cons

Similar Cards Worth Considering

Capital One Venture Business

Ink Business Preferred® Credit Card

Would I Recommend the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card?

About the Author

Erica Sandberg