Bank of America Business Advantage Travel Rewards World Mastercard is a credit card designed specifically for small business owners who want to earn rewards on their everyday business expenses and make the most out of their travel purchases. This card offers a host of benefits tailored to business owners looking to manage their cash flow, earn travel rewards, and enjoy a variety of perks that make running a business a bit easier.
In this article, we will take an in-depth look at the key features, rewards structure, benefits, and other relevant aspects of the Bank of America Business Advantage Travel Rewards World Mastercard.
Overview of the Bank of America Business Advantage Travel Rewards World Mastercard
The Bank of America Business Advantage Travel Rewards World Mastercard is a business credit card that offers an array of benefits aimed at helping business owners save money on travel, earn rewards, and streamline their expenses. This card is ideal for businesses that frequently engage in travel-related purchases, whether for flights, hotels, or other travel services.
One of the primary selling points of the card is its ability to earn unlimited 1.5 points for every dollar spent on all purchases. However, if you are a business owner who frequently travels, the card provides additional advantages, including no annual fee, no foreign transaction fees, and the ability to redeem points for travel expenses.
Key Features of the Bank of America Business Advantage Travel Rewards World Mastercard
Let’s take a closer look at the main features of the card that make it appealing for small business owners.
Earn Unlimited 1.5 Points per Dollar on Every Purchase
With the Bank of America Business Advantage Travel Rewards World Mastercard, business owners can earn unlimited 1.5 points for every dollar spent on all purchases. There are no spending limits, meaning your rewards can accumulate quickly, whether you’re paying for office supplies, utilities, travel expenses, or dining. This straightforward rewards structure ensures that you are always earning valuable rewards without any complicated categories to track.
No Annual Fee
Unlike many other business credit cards, the Bank of America® Business Advantage Travel Rewards World Mastercard® does not charge an annual fee. This is particularly attractive for small business owners who want to earn rewards without having to pay a recurring charge every year.
No Foreign Transaction Fees
For business owners who travel internationally, the lack of foreign transaction fees is a significant perk. Many credit cards impose a fee of around 3% for purchases made abroad, but with the Bank of America® Business Advantage Travel Rewards World Mastercard®, you can make purchases globally without paying extra fees. This can save you money when purchasing business supplies or booking travel while overseas.
Introductory Bonus Offer
New cardholders can earn 30,000 online bonus points after making at least 3,000 in purchases within the first 90 days of account opening. These bonus points are worth300 in travel statement credits, which can be used for a wide range of travel expenses. This introductory bonus makes it even easier to start earning valuable rewards right away.
Flexible Travel Redemption Options
You can redeem your accumulated points for travel expenses such as flights, hotel stays, vacation packages, car rentals, and more. There’s no blackout period, which gives you the flexibility to redeem points for travel at any time. The points are also redeemable for statement credits, which can be applied to eligible travel purchases made with your card.
Global Acceptance
The Bank of America Business Advantage Travel Rewards World Mastercard is accepted globally at millions of locations. It is a MasterCard, which means you can use it virtually anywhere that accepts credit cards, including for business expenses, travel, and general purchases.
Employee Card Program
If your business has multiple employees who need credit cards for travel or other purchases, you can add employee cards at no additional cost. Each employee card also earns the same rewards as the primary cardholder, helping you accumulate points quickly while managing spending across multiple team members.
Benefits of the Bank of America Business Advantage Travel Rewards World Mastercard
Beyond the basic features, this credit card offers several benefits tailored to the needs of small business owners.
Travel and Emergency Assistance Services
This card provides travel and emergency assistance services to give you peace of mind during your business travels. If you find yourself in a situation where you need emergency help, such as medical assistance or travel arrangements due to an unexpected event, you can access a wide range of travel services through the 24/7 customer service line.
Rental Car Insurance
When you rent a car using the Bank of America Business Advantage Travel Rewards World Mastercard, you are covered by the card’s rental car insurance, which can help protect you from damage or theft while on business trips. This can save you money on renting insurance from car rental companies, as you may already be covered.
Mastercard Benefits
As a MasterCard, this business credit card also comes with additional benefits. These include:
– Price Protection: If you purchase an eligible item and then find it advertised for a lower price within 60 days, you can receive a refund of the price difference.
– Extended Warranty: The card extends the manufacturer’s warranty on eligible purchases, helping to provide extra protection on items you buy for your business.
24/7 Customer Service
Having reliable customer support is vital for business owners, especially when issues arise during travel or while making purchases. The Bank of America Business Advantage Travel Rewards World Mastercard provides 24/7 customer service for any questions, concerns, or issues related to your account or transactions.
How to Maximize the Rewards on the Bank of America Business Advantage Travel Rewards World Mastercards
While earning 1.5 points per dollar on every purchase is already an excellent rewards rate, there are a few strategies that can help you maximize your rewards:
Consolidate All Business Purchases onto the Card
To earn the maximum number of rewards, consolidate all your business purchases onto this card. Whether it’s buying office supplies, paying for utilities, or covering employee travel expenses, using the card for all purchases ensures that you accumulate points quickly. This also simplifies your accounting and expense tracking, making it easier to manage your business finances.
Take Advantage of Employee Cards
If you have employees who frequently travel or make purchases for the business, consider adding employee cards to your account. Not only are these cards free, but the points they earn will also count toward your total rewards. This can help accelerate your rewards accumulation.
Pay Your Travel Expenses Using the Card
One of the best ways to earn valuable rewards is by paying for travel-related expenses such as flights, hotels, and car rentals. Since the Bank of America Business Advantage Travel Rewards World Mastercard has no foreign transaction fees, it’s a great option for both domestic and international travel. Be sure to use the card for all travel expenses to maximize your points.
Use the Introductory Bonus to Your Advantage
The 30,000-point bonus offer is a great opportunity to jumpstart your rewards earning. Be sure to make the required $3,000 in purchases within the first 90 days to take full advantage of this offer. The points you earn from the bonus can be redeemed for a statement credit toward future travel purchases.
Comparison: Bank of America Business Advantage Travel Rewards World Mastercards vs. Other Business Credit Cards
While the Bank of America Business Advantage Travel Rewards World Mastercard offers a solid rewards structure, it’s important to compare it with other business credit cards on the market to see how it stacks up. Let’s compare it to some similar options.
American Express Business Gold Card
The American Express Business Gold Card offers 4 points per dollar on two categories of purchases (such as airfare, advertising, and restaurants) and 1 point per dollar on all other purchases. However, the annual fee for this card is higher than the Bank of America card, and it comes with a more complex rewards structure. If you have a business that spends heavily in the top categories, the American Express card may offer more value.
Chase Ink Business Preferred Credit Card
The Chase Ink Business Preferred Credit Card offers 3 points per dollar on travel, internet, cable, and phone services, and 1 point per dollar on all other purchases. It comes with a higher annual fee and a higher points redemption rate on travel-related purchases, but like the American Express card, it has a more complicated rewards structure. If your business spends a lot in specific categories, the Chase card could offer more value.
Capital One Spark Miles for Business
The Capital One Spark Miles for Business offers 2 miles per dollar on every purchase, and there are no limits on how many miles you can earn. It comes with an annual fee, but it also offers travel redemption options and no foreign transaction fees, similar to the Bank of America card. If you prefer a simple, high-earning travel rewards card, the Capital One card may be a good alternative.
Final Thoughts: Is the Bank of America Business Advantage Travel Rewards World Mastercards Right for You?
The Bank of America Business Advantage Travel Rewards World Mastercard is an excellent choice for small business owners who are looking for a simple and effective way to earn travel rewards without paying an annual fee. The unlimited 1.5 points per dollar on all purchases, no foreign transaction fees, and the 30,000-point bonus offer make it a great value for businesses that travel frequently or regularly make travel-related purchases.