Bank of America Business Advantage Travel Rewards Review: Good No-Annual-Fee Option

For small-business owners who travel, the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is a good option, offering solid rewards for an annual fee of $0. And for those who keep a certain amount of money in eligible Bank of America® and Merrill business accounts, its rewards could be best in class.

The card gets you 1.5 points per dollar spent on all purchases and 3 points per dollar on travel purchases booked through the Bank of America® Travel Center. Points are worth 1 cent apiece when redeemed to cover travel purchases made on the card. And if you're enrolled in the issuer's Preferred Rewards for Business program — which you can qualify for if you keep enough money with the bank — you can earn up to 2.62 points per dollar spent, one of the highest base rewards rates you'll find on a $0-annual-fee card.

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

Card type: Small business.

Annual fee: $0.

Sign-up bonus: Earn 30,000 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-related purchases.

Rewards: 

• Earn 1.5 points per dollar spent on all purchases.

• Earn 3 points per dollar spent on travel purchases booked through the Bank of America® Travel Center.

You can redeem your points for credit against travel purchases, travel booked through Bank of America® or cash rewards. Points are worth 1 cent each when redeemed for travel statement credit and 0.6 cent each when redeemed for cash back.

APR: 0% intro APR on Purchases for 9 billing cycles, and then the ongoing APR of 12.24%-22.24% Variable APR.

Foreign transaction fees: None.

Other benefits: Preferred Rewards for Business members earn higher rewards rates.

Why you might want the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

More points with Preferred Rewards for Business

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is more valuable if you keep at least $20,000 in combined balances in eligible Bank of America® and Merrill business accounts. At that point, you can qualify for the Bank of America® Preferred Rewards for Business program. That gets you access to plenty of perks, including bonus rewards on this card.

The total rewards boost you'll get depends on which tier of the program you qualify for. At the Platinum Honors level — the highest tier — you can earn 75% more points on each purchase, for example. That adds up to 2.62 points for every dollar spent and 5.25 points for every dollar spent at the Bank of America® Travel Center. Gold tier members earn a 25% bonus and Platinum members earn a 50% bonus.

Versatile rewards

With this card, you can redeem points to pay for a wide variety of travel purchases made on the card, no matter which airline or hotel brand you book. Points are worth 1 cent apiece when redeemed this way. Because Bank of America® has a broader definition of travel than other major issuers, you can also redeem rewards for plenty of travel expenses aside from airfare, hotel stays and car rentals. For example, you can use points to pay for renting an RV, staying at campgrounds, going on a cruise, or even visiting a circus or zoo.

Introductory 0% APR offer

If you’re looking to pay down business purchases over time, then this card's introductory APR offer could be beneficial. You'll get 0% intro APR on Purchases for 9 billing cycles, and then the ongoing APR of 12.24%-22.24% Variable APR. Many small-business cards don't include such offers.

Why you might want a different card

Higher rewards rate

While the rewards rate on Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is solid, it's not top-of-the-line — unless you're a Preferred Rewards for Business member. Other cards offer higher rewards rates.

With The Blue Business® Plus Credit Card from American Express, for example, you earn 2 Membership Rewards points per dollar spent on the first $50,000 of purchases a year (and 1 point per dollar afterward), and the annual fee is $0. Terms apply (see rates and fees). The card also has an introductory APR offer: 0% intro APR on Purchases for 12 months, and then the ongoing APR of 13.24%-19.24% Variable APR. The card does have a foreign transaction fee, however, so international travelers will want to use a different card.

Bigger sign-up bonus

You can find a bigger sign-up bonus on other travel rewards cards, especially those with an annual fee. The Ink Business Preferred® Credit Card, for example, comes with a rich sign-up bonus: Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®. You earn 3 points per $1 on bonus categories such as travel and 1 point per $1 on all other purchases. For small-business owners whose spending matches up with the bonus categories, those points could build up quickly — and points are worth 1.25 cents apiece  when redeemed for travel through Chase Ultimate Rewards. The annual fee is $95.

Cash back rewards

If you want the flexibility of cash back, go with a different card. When you redeem for cash back on the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card, then points are worth just over half a cent each. Check out some top cash-back options on this list of NerdWallet's best small-business credit cards.

Should you get the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card?

Other small-business cards offer richer ongoing rewards and larger sign-up bonuses. But if you’re a small-business owner and traveler looking for a card that offers steady rewards with an annual fee of $0, then this card could be a good fit for you —  especially if you’re already a Preferred Rewards for Business member.