Bank Of America® Business Advantage Travel Rewards World Mastercard® Credit Card Review [2024]: Simple Travel Rewards

CREDIT CARDS - BUSINESS CREDIT CARDS
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is an easy card for you to use on all your business expenses.
Updated March 19, 2024
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There’s nothing complicated about the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card, which is a benefit for small business owners who want a simple card for earning travel rewards.

This also means there’s not much in the way of additional perks or benefits. However, the value of this card can go way up if you can take advantage of the Bank of America Preferred Rewards for Business program.

Let’s explore our Bank of America Business Advantage Travel Rewards credit card review to see if this is the right card for your business.

Key takeaways

  • We like the Bank of America Business Advantage Travel Rewards as an everyday travel card for any small business owner. But we think there are better options available unless you can take advantage of the Preferred Rewards for Business program.
  • You can boost your earning by up to 75% through the Preferred Rewards for Business program.
  • You don’t have to pay foreign transaction fees.
  • You can’t transfer points to travel partners.
  • The annual fee is $0.

Get up to 3X points

4.4

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

Annual Fee

$0

Benefits and Drawbacks
Card Details

In this Bank of America Business Advantage Travel Rewards review

Who should get the Bank of America Business Advantage Travel Rewards World Mastercard?

The Bank of America Business Advantage Travel Rewards World Mastercard makes sense if you want a travel credit card with a simple rewards rate and no foreign transaction fees.

It doesn’t have many additional benefits, but you can earn a decent base earning rate on all your eligible purchases. And then you can redeem your rewards for travel, cash back, dining and travel purchases, and more.

This isn’t the card for you if you want premium travel benefits, including airport lounge access or elite status with a certain loyalty program. As a $0-annual-fee card, the benefits are few and far between.

But something special with many Bank of America credit cards is that you can take advantage of the Preferred Rewards program, or the Preferred Rewards for Business program for business owners.

This program could boost your earning potential by up to 75%, meaning a 1.5X earning rate could turn into a 2.62X earning rate. That’s a massive increase, but you need at least a three-month combined average daily balance of $20,000 or more in qualifying Bank of America business deposit accounts and/or Merrill business investment accounts to participate in the Preferred Rewards for Business program.

For the 75% earning boost (Platinum Honors tier), you need a three-month combined average daily balance of $100,000 or more.

Bank of America Business Advantage Travel Rewards World Mastercard basics

Card type Travel/Business
Credit card issuer Bank of America
Credit card network Mastercard
Annual fee $0
Intro bonus Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening
Intro APR 0% intro APR for 9 billing cycles on purchases (then 18.49% - 28.49% Variable)
Reward rate 3 points per $1 on travel booked through the Bank of America® Travel Center and 1.5 points per $1 on all other purchases
Recommended credit score Excellent
Foreign transaction fee None

Why we like Bank of America Business Advantage Travel Rewards World Mastercard: benefits and perks

  • Generous welcome bonus: Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening.
  • Earning potential: Earn 3 points per $1 on travel booked through the Bank of America® Travel Center and 1.5 points per $1 on all other purchases.
  • $0 annual fee: Forget an annual cost with a $0 annual fee.
  • Introductory APR offer: Receive 0% intro APR for 9 billing cycles on purchases (then 18.49% - 28.49% Variable).
  • No foreign transaction fees: Avoid paying any foreign transaction fees.
  • Travel insurance: This card offers $1 million in travel accident insurance, lost luggage reimbursement, trip delay reimbursement, and trip cancellation coverage.
  • Preferred Rewards for Business: Boost your earning by 25% to 75% through this unique Bank of America program. It’s free to join, but you need an active and eligible Bank of America business checking account and at least a three-month combined average daily balance of $20,000 or more in qualifying Bank of America and/or Merrill accounts.

What we don’t like about this card: drawbacks

  • No transfer partners: It’s a travel credit card, but you can’t transfer points to any travel partners. This reduces the flexibility of your rewards and potentially their value as well. Find better options for transfer partners with our list of the best business credit cards for travel.
  • Preferred Rewards requirements: It might be free to join the Preferred Rewards for Business program, but only if you qualify. And not everyone has an extra $20,000 to keep in the required accounts to qualify. Overall, this card provides average value if you aren’t part of Preferred Rewards. Some of the best business credit cards might make more sense without the need to join a program.
  • Short intro APR period: This intro APR offer on purchases is shorter than what you can find on the best 0% intro APR credit cards. This card also has no intro APR for qualifying balance transfers.

Earning and redeeming Bank of America Business Advantage Travel Rewards World Mastercard rewards

Best ways to earn

Category Rewards rate
Travel booked through the Bank of America® Travel Center 3X
All other purchases 1.5X

The earning rates on the Bank of America Business Advantage Travel Rewards are generally average compared to other available rewards credit cards. This doesn’t mean the earning potential is bad, but it doesn’t have many bonus categories, and you can find the same or better rates on different cards.

But this card has something a lot of cards don't, which is the opportunity to boost your earning by 25% to 75% through the Preferred Rewards for Business program. That could mean earning up to a 2.62X base earning rate on all your eligible purchases.

That’s some earning potential you're not likely to find anywhere else, and it’s the best way to earn rewards with the Bank of America Business Advantage Travel Rewards credit card.

Here’s an example of how much more value you can get from this card through the Preferred Rewards for Business program:

1.5X rate 1.5X rate with 25% bonus 1.5X rate with 50% bonus 1.5X rate with 75% bonus
Potential rewards after spending $10,000 15,000 points ($150) 18,750 points ($187.50) 22,500 points ($225) 26,250 points ($262.50)

For the same $10,000 in spending, you can earn $112.50 more in rewards with a 75% bonus from the Preferred Rewards for Business program.

Maximizing your redemptions

The Bank of America Business Advantage Travel Rewards credit card offers these redemption options:

  • Statement credits toward travel and dining purchases
  • Travel through the Bank of America Travel Center
  • Cash back
  • Gift cards

Bank of America Travel Rewards points are generally worth 1 cent per point, except cash back and gift cards. This means avoiding these two options is likely the best way to maximize using your points.

For example, redeeming 2,500 points would net you $25 toward a statement credit or travel redemption. But it would only net you $15 if used for cash back, which includes mailed checks or deposits into eligible Bank of America checking or savings accounts or a credit to an eligible Merrill investment account.

There’s no set redemption value for gift cards, as it varies depending on the gift card. But the value could also be lower than 1 cent per point.

FAQ

Does Bank of America Business Advantage have foreign transaction fees?

The Bank of America Business Advantage Travel Rewards World Mastercard credit card has no foreign transaction fees. This makes it a useful card to have on hand if you travel or make purchases from foreign merchants. Many credit cards charge a 3% foreign transaction fee. That might not seem like much, but it can add up depending on your spending.

What is the credit limit for Bank of America Travel Rewards credit card?

Bank of America doesn’t publish credit limits for its credit cards, but you can typically expect to have at least a $500 or $1,000 credit limit if approved. Keep in mind that credit card issuers often take into account your credit history, credit score, total income, and other factors when determining your credit limit.

What is the limit on a Bank of America Business Advantage credit card?

There’s no official credit limit for Bank of America Business Advantage credit cards, as it depends on a variety of factors. This typically includes your credit score, income, and how much total credit you might already have available. It would be reasonable to say that you might expect at least a $500 or $1,000 credit limit if approved.

Is there an annual fee for the Bank of America Business Advantage credit card?

These are the annual fees for the Bank of America Business Advantage credit cards:

Other cards to consider

If the Bank of America Business Advantage Travel Rewards doesn’t seem like the right fit for you, consider the Capital One Spark Miles for Business and Ink Business Unlimited® Credit Card as worthy alternatives.

The Capital One Spark Miles has a $95 (waived first year) annual fee, but its base earning rate beats the Business Advantage Travel Rewards. You can earn 5X miles on rental cars and hotels booked through Capital One Travel, and 2X miles on every purchase, every day. You can also transfer your miles to over a dozen Capital One transfer partners and receive up to $100 credit for TSA PreCheck or Global Entry.

Learn more in our Capital One Spark Miles for Business review.

The Ink Business Unlimited has a $0 annual fee and offers unlimited 1.5% cash back on every purchase. This isn’t a better earning rate, but you earn Chase Ultimate Rewards points, which is one of our favorite travel rewards currencies because of its flexibility and value. You can also combine Chase points between multiple Chase credit cards for more earning potential.

Check out our Chase Ink Business Unlimited review.

Get up to 3X points

4.4

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

Why We Like It

Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening

See how these cards compare:

Capital One Spark Miles for Business
Capital One Spark Miles for Business
  • Earn 50,000 miles after spending $4,500 in the first 3 months
  • Unlimited 2X miles on every purchase, every day
  • Free employee cards
  • No foreign transaction fees
Ink Business Unlimited® Credit Card
Ink Business Unlimited® Credit Card
  • Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
  • Unlimited 1.5% cash back on every purchase
  • Intro APR on purchases
  • No annual fee

Bank of America Business Advantage Travel Rewards World Mastercard review: bottom line

We think the Bank of America Business Advantage Travel Rewards is an excellent travel credit card if you’re a small business owner learning how credit card rewards work. There’s nothing flashy about this card, which means it’s simple for cardholders to use. But you also won’t find many additional perks or benefits.

The primary benefit of the Business Advantage Travel Rewards is the Preferred Rewards for Business program. Taking advantage of this program, which has some large requirements, can boost your earning potential by 75% and really draw some value out of a simple rewards card.

If you don’t qualify for the Preferred Rewards for Business program or want to see more of our top recommendations, use our dedicated page to compare credit cards and credit card offers.

Author Details

Ben Walker, CEPF, CFEI® Ben Walker, CEPF, CFEI®, is credit cards specialist. For over a decade, he's leveraged credit card points and miles to travel the world. His expertise extends to other areas of personal finance — including loans, insurance, investing, and real estate — and you can find his insights on The Washington Post, Debt.com, Yahoo! Finance, and Fox Business.

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