|Highlights||Credit Card Feature|
|Things We Like||Signing bonus of 30,000 bonus points|
|Our Verdict||Great card for unlimited 1.5 points|
If travel makes up a large part of your business, Bank of America® Business Advantage Travel Rewards World Mastercard® credit card might have caught your attention. This Mastercard credit card from Bank of America makes a lot of sense for businesses looking for one credit card that offers both good travel rewards on business spending, and useful travel benefits. But the fact that this card has no annual fee really sets it apart from most business credit card with similar travel benefits. However, the way in which travel rewards are earned and redeemed with this card won't suit the needs of every business.
If you are wondering whether this card offers what your business needs, we recommend you read this review in which we look at the pros and cons of Bank of America® Business Advantage Travel Rewards World Mastercard® credit card and compare it to other business travel credit cards.
Things We Like About Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
The bonus offer. You earn 30,000 bonus points when you make at least $3,000 in net purchases within 60 days of your account opening which can be redeemed for a $300 statement credit towards travel purchases. That's an easy bonus offer to get!
You earn 1.5 points for every $1 on all purchases. Every purchase you make with this card earns 1.5 points per $1 of purchases charged to this card. That's a pretty high rewards-earning rate.
You earn 3 points for every $1 of travel purchases booked through Bank of America's Travel Center®. If you prefer a one-stop solution to travel bookings over searching for deals from many travel services, then you can earn a lot of points by making your travel bookings through the Bank of America Travel Center®. You can book travel on more than 200 different airlines and stays at over 100,000 hotels and resorts. When you travel, this service gives you 24/7 phone support.
This card has no annual fee. Most good business credit cards come at a cost, which adds an extra expense for your business. This card, on the other hand, has no annual fee and still gives you good benefits.
It has no international transaction fee. If you travel outside of the U.S. in the course of your business, this perk can save you money. Most credit cards charge a 3% international transaction fee, usually with a minimum charge of $5 per transaction. But when you use this card to pay in a foreign currency, you won't pay an international transaction fee.
You get cash flow management tools for business. This card offers a number of online services that can save you time and stress. For example, you can download transactions directly into QuickBooks for easy accounting, and make automatic payments and transfers. MyReport Center gives you the power to run detailed spending reports at either the company or employee level, your businesses' automatically categorized spending history for the past 24 months, search transactions and run customizable reports (at the company and employee level), and easily download the reports you create in a number of Excel-based formats.
You get fraud monitoring. All transactions charged to this card are monitored for fraudulent activity. If an abnormal pattern is detected, Bank of America will block potential fraud and inform you of the suspected fraudulent activity.
You are protected with zero liability protection for unauthorized transactions. Unlike consumer credit cards, a business credit card does not legally have to offer you protection against fraudulent purchases. With many other business cards, if a disgruntled former employee, a clever hacker, or a pickpocket helps themselves to your line of credit, you will be forced to foot the bill. But this card has zero liability protection for unauthorized transactions, so you won't be held liable to pay for transactions which you did not approve. Bank of America goes a step further with this business credit card by adding an extra layer of protection against misuse of the card account by terminated employees.
You get complimentary travel accident insurance. Some cards are good for earning travel rewards, other cards are good for actually booking travel and taking with you on trips. This card is good at both. Aside from the travel rewards you earn and the fact that you don't pay an international transaction fee when you use this card outside of the U.S., you also get solid travel perks just by using this card to pay for your travel booking purchases in full. These perks include travel accident insurance (up to $250,000 coverage), auto rental insurance, emergency ticket replacement, and lost–luggage assistance. If you feel you need more travel protection than what you get as standard, this card gives you the option to get extended protection.
Mobile banking for easy account management. Wherever you go, you can use your phone to manage your account online with mobile banking. You can also access your account via secure online banking. This makes it possible for you to monitor employee transactions and other account activity, and check the account balance.
You can get overdraft protection. You get the option to link your credit card account to a Bank of America business checking account for overdraft protection. This can help you avoid paying overdraft penalties on your business checking account because Bank of America will automatically transfer money (in multiples of $100) to cover any overdrafts which your checking account may incur.
No penalty APR. If everything goes wrong and you miss a payment, you won't have to deal with a penalty APR. However, there is a late payment fee ($19 if balance is $100 or less, $29 for balances between $100.01 - $1,000, $39 for balances between $1,000.01 - $5,000, and $49 if the balance is greater than $5,000). Paying late could also negatively affect your credit score, so this should still be a no go, even when there is no penalty APR.
How Other Cards Compare With Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card gives you all the travel credit card basics, including travel rewards and some travel benefits, all at no annual fee.
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card strikes a good balance between cost and service. There are cards that potentially let you earn more travel rewards, but these generally have an annual fee. You can also find more exclusive business payment cards that give you more travel benefits. But Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has a very good rate of points per dollar for all purchases, and also gives you travel perks like no international transaction fee and travel insurance. Best of all, you pay no annual fee. If you want a rewarding travel card with business and travel perks, and you prefer not to pay for it, Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is a smart choice.
|Frequently Asked Questions About Bank of America® Business Advantage Travel Rewards World Mastercard® credit card|
|Is this a good rewards card?|
|Do I get any special benefits from this card?|
|What are some of the features that come with this card?|
|Does this card have an annual fee?|
|Is there a penalty if I pay late?|
|Can I get this card even if I have bad credit?|
|Do I get access to my credit score?|
|Who is this card for?|
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