Better with the Preferred Rewards for Business program: Bank of America Business Advantage Travel Rewards card review
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The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card earns 1.5x on everyday business expenses and 3x on eligible purchases at the Bank of America Travel Center. If you qualify for the Preferred Rewards for Business program, this card offers a solid return across categories. But non bank customers will find more value in other card options. Card Rating*: ⭐⭐⭐
*Card Rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is one of two Bank of America business cards that earns rewards (not counting cobranded cards). It earns a flat 1.5x on all purchases, but you can earn even more on eligible travel purchases.
Existing Bank of America customers can potentially get a lot out of this card, but make sure that it’s the right business card option for you. There are other low-cost business cards that offer a higher return and more flexible redemption options.
Related reading: Best Bank of America credit cards
Who is this card for?
If you have Bank of America business accounts and want a no-annual-fee card for business travel expenses, the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is a solid option for you. It’s best suited for those who qualify for the Preferred Rewards program (more on that later) and typically book travel through a third-party portal. The rewards structure is decent even if you don’t have a banking relationship with Bank of America, but there are cards that offer a higher flat-rate rewards structure.
For a no-annual-fee card, you’re getting a decent sign-up bonus with the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card. You’ll earn 30,000 points after spending $3,000 in purchases the first 90 days of account opening. That comes out to $300 in value. It’s certainly not the highest sign-up bonus available right now, but $300 for only $3,000 in spending isn’t bad.
Related reading: Cards currently offering welcome bonuses over 100,000 points
Main benefits and perks
There aren’t a ton of perks and benefits with this card, but that’s not surprising, since it doesn’t charge an annual fee. You get business tools such as QuickBooks integration to help make expense tracking easier. You’ll also get travel protections, including travel accident insurance, lost luggage reimbursement, trip cancellation coverage and trip delay reimbursement.
How to earn points
With this card, you’ll earn a flat 1.5x on all purchases, plus 3x when you book travel through the Bank of America Travel Center.
The Bank of America Travel Center is powered by Expedia, so if you already book business travel through a similar third-party site, it’s probably worth switching to Bank of America’s portal for 3x. Keep in mind that you may not earn hotel elite credits or have hotel elite status recognized when you go through a third-party portal.
Earning 1.5x on everyday purchases makes this a decent business card for non-bonus spending, but the Preferred Rewards for Business program gives this card the potential to be quite rewarding across all purchases.
The Preferred Rewards for Business program is similar to the personal version of the program. Those who have at least a $20,000 three-month average balance in qualifying Bank of America business deposit accounts and/or Merrill business investment accounts are eligible for the program. There are three tiers, each with a number of banking and credit card benefits. For cardholders, you’ll get an earnings boost on all base points earned with the card. Here’s a look at the three tiers and your potential earnings with the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card:
|Preferred Rewards tier:||Gold||Platinum||Platinum Honors|
|Required balance:||$20,000 – $49,999||$50,000 – $99,999||$100,000+|
|Travel portal earning:||3.37x||3.75x||4.12x|
Remember that with this card, you’re only earning a boost on base points earned, which means you’re only getting the boost on the 1.5x for each purchase. On purchases at the Bank of America travel portal that earn 3x, you’ll earn a boost on 1.5x and then an additional 1.5x will be added on after the fact. You’re still getting a nice return, but it’s not quite as lucrative as what you might assume based on how the personal Preferred Rewards program works.
Related reading: Stop ignoring Bank of America Preferred Rewards
How to redeem points
You can redeem your points as a statement credit for eligible travel purchases, gift cards or cash back, but you’ll get the most out of your points when you redeem them as a statement credit for travel. While most of Bank of America’s cards earn fixed-value points, the Business Travel Rewards card is a little different.
Your points redeemed as a statement credit for travel are worth a flat 1 cent each, but when you redeem for cash back, your points are only worth 0.6 cents each (meaning 2,500 points equate to only $15). Gift card redemption rates vary. This limits your redemption options and puts this card at a disadvantage with business cards that offer more flexibility.
Is this card worth it if you’re not a Bank of America Preferred Rewards for Business member?
I think there are better options out there if you aren’t a Preferred Rewards for Business member. Even the lack of an annual fee doesn’t really make the card worth it in my eyes if you’re only earning a flat 1.5x on most purchases and 3x on eligible travel portal spending. If you want to earn rewards to use on travel with a flat-rate card for everyday business spending, you should consider the Capital One Spark Miles for Business.
The Capital One Spark Miles earns a flat 2x across all purchases and you’ll redeem miles for a travel credit or by transferring miles to partners.
The Spark Miles is also currently offering 50,000 bonus miles after spending $4,500 on purchases in the first three months of account opening. The card’s annual fee is waived the first year (then $95 thereafter), which makes it a much better choice for business owners looking for an everyday spending card to earn travel rewards.
If you’re adamant about having no annual fee, the Chase Ink Business Unlimited Credit Card is another option. You’ll earn 1.5% back on every purchase, and those rewards are worth a flat 1 cent each no matter how you redeem your rewards. For business owners who don’t want to use their rewards strictly for travel, this is a great alternative.
Plus, if you have a Chase Ultimate Rewards card such as the Chase Sapphire Preferred Card or the Ink Business Preferred Credit Card, you can transfer your rewards to take advantage of a redemption bonus and Chase’s transfer partners. (Though it’s important to note that you are currently required to sign into an existing Chase account before applying for any Chase-issued business credit cards.)
Related reading: How to choose the right credit card for your business
If you qualify for the business Preferred Rewards program, this card can be a nice way to earn travel rewards. The Preferred Rewards program offers banking and credit card benefits that make this card worth it for members. However, nonmembers should look elsewhere for rewards. You can find cards with higher returns on both travel rewards and non-bonus spending.
Featured image by Josh Gribben/The Points Guy.
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WELCOME OFFER: 80,000 Points
TPG'S BONUS VALUATION*: $1,600
CARD HIGHLIGHTS: 3X points on dining and 2x points on travel, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®.
- Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.