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This $0 annual fee card offers powerful rewards earnings for those with businesses who already bank with Bank of America®. But even if you’re not a Bank of America® Preferred Rewards for Business member, you can still earn 1.5 points per dollar spent on everyday purchases when you use the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card.
Here's a closer look at the well-known and underrated perks of the card.
The well-known reasons
Welcome bonus: Earn 30,000 online bonus points after you make at least $3,000 in net purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining purchases.
Simple, no frills earnings: Earn unlimited 1.5 points for every $1 you spend on all purchases plus 3 points per dollar spent when you book your travel (car, hotel, airline) through the Bank of America® Travel Center.
No foreign transaction fee: With no foreign transaction fees you can use your card more affordably while traveling internationally.
No annual fee: You don’t have to worry about paying an annual fee to keep your card open.
The underrated reasons
Boosted rewards earnings
If you have a business checking account with Bank of America® and qualify for Preferred Rewards, you can boost the card’s earning rates even more — up to 75% more points on every purchase.
To qualify for Preferred Rewards, you need to keep the minimum amount — $20,000 — in combined balances in eligible Bank of America® and Merrill business accounts. Depending on the membership tier, you can earn 25%, 50% or 75% more points on purchases.
Preferred Rewards program tier
Points earned per dollar spent
Points earned per dollar spent at Bank of America® Travel Center
Easy to redeem rewards
If you’re a business owner looking for simplified rewards redemptions, this card provides just that. One option is to charge travel-related purchases to your card and redeem points for a statement credit.
When points are redeemed for travel, each point is worth 1 cent, with a minimum redemption amount of 2,500 points or $25. Points can also be redeemed for cash back, but you will only receive 0.6 cents in value when doing so. Gift card redemption values vary.
As all travel charges qualify for rewards redemption, you have the freedom to fly on any airline or stay at any hotel. Bank of America®’s extensive definition of travel gives you more flexibility than some card issuers.
You’ll be able to redeem points for travel-related charges such as:
Tolls and bridge fees.
Amusement parks, zoos, aquariums and the like.
Although this card may lack many travel benefits that come with premium, more expensive travel credit cards, you’ll be covered when things go amiss on a trip.
Making purchases with your Bank of America® Business Advantage Travel Rewards World Mastercard® credit card gives you instant access to protections like travel accident insurance, lost luggage reimbursement, trip cancellation coverage and trip delay reimbursement. It can be difficult to put a price on the value of the peace of mind this coverage can provide during business travel.
Introductory 0% APR
Whether you need to pay down a large purchase or want to open up extra cash flow, using the card’s 0% intro APR on Purchases for 9 billing cycles, and then the ongoing APR of 15.99%-25.99% Variable APR could be advantageous. The 0% APR doesn't apply to balance transfers.
The bottom line
This $0 credit card is designed for business owners who travel frequently and value simple yet versatile rewards redemptions. Although the card earns solid rewards with 1.5 points per dollar spent, and 3 points per dollar on travel purchased through the Bank of America® Travel Center, you can boost these rewards rates if your business banks with the issuer and you qualify for Preferred Rewards.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2022, including those best for:
Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card
No annual fee: Bank of America® Travel Rewards credit card
Flat-rate travel rewards: Capital One Venture Rewards Credit Card
Bonus travel rewards and high-end perks: Chase Sapphire Reserve®
Luxury perks: The Platinum Card® from American Express
Business travelers: Ink Business Preferred® Credit Card