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Bank of America is the 2nd-largest bank in the United States, serving approximately 69 million personal and small business banking clients. With over 15,000 ATMs and more than 3,700 physical branches nationwide, the bank has earned dozens of awards in 2024 alone, from Forbes, Fortune, J.D. Power, and others.
Bank of America’s six business credit cards include the Business Advantage Travel Rewards World Mastercard®. There’s no annual fee, and you’ll earn 1.5 points per dollar spent on purchases, which you can redeem for travel-related expenses. Additional perks include travel insurance coverage and a generous introductory offer of 30,000 points.
The Bank of America Business Advantage Travel Rewards credit card is ideal for frequent business travelers because you can redeem all points earned for travel-related rewards. Cardholders also enjoy valuable travel perks, including travel accident coverage of $1 million, trip cancellation insurance, baggage loss compensation, and trip delay coverage.
This card is also well-suited for small businesses, as there’s a straightforward rewards structure and no annual fee. Additional benefits include free access to your business credit score and online cash management tools, such as transfers, automatic payments, and QuickBooks integration. These features are particularly beneficial for small business owners without dedicated accounting departments.
This card offers a 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.99% to 26.99% will apply.
The Business Advantage Travel Rewards World Mastercard® also comes with minimal fees:
Fee | Amount |
Annual fee | $0 |
Balance transfer transaction fee | 4% of the transaction amount |
International transaction fee | $0 |
Cash advance transaction fee | 4% of the advance amount |
Late payment penalty fee | $0 if your balance is no more than $100; $29 if it’s $100.01-$1,000; $39 if it’s $1,000.01-$5,000; $49 if your balance is higher than $5,000. |
The Business Advantage Travel Rewards World Mastercard® offers a generous welcome offer - Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening, which can be redeemed for a $300 statement credit towards travel or dining purchases. After that, you earn 1.5 points for every dollar spent, with no limits or restrictions. Your points won’t expire as long as your account remains open.
If you have a Bank of America business checking account and maintain a minimum $100,000 average balance over three months, you can earn up to 2.62 points per dollar spent. Bank of America also provides a calculator to help estimate your potential earnings.
You can redeem your points for dining or travel purchases made with your card. You can also use them to book flights, rental cars, and hotels through the Bank of America Travel Center, an online booking platform. Redemption starts at just 2,500 points.
Applying for a Business Advantage Travel Rewards World Mastercard® from Bank of America can take as little as 5 to 10 minutes. You’ll need to fill out an online form or go into a branch to apply. Either way, you’ll need to supply the following information:
Your income
Your citizenship and percentage of ownership in the company
Your gross household income and the amount you spend on housing
Your occupation and source of income
Your Business tax ID (or Social Security number if you’re a sole proprietor)
Your business name and legal structure
The date and location where your business was formed
The country where primary business operations take place
The Tax ID and address of any parent company
Your business’s net profit and gross annual sales
Your industry
How many employees you have
Detailed information for each beneficial owner, including their Social Security number, date of birth, name, country of citizenship and residence, percentage of ownership, and address
Processing of your application can take anywhere from 24 hours to 12 business days. You’ll get your credit card by mail within seven to 10 business days after approval.
Bank of America provides toll-free phone and live chat support, including messaging through its verified Facebook and X (formerly Twitter) accounts, Monday through Friday from 8am to 11pm (ET) and weekends from 8am to 8pm (ET). For credit card-related issues, the bank offers dedicated 24/7 hotlines for card activation and reporting lost or stolen cards.
The bank also offers an extensive website with an online Help Center featuring detailed FAQs. A standout resource is the Center for Business Empowerment, which provides articles and tools to help businesses start and grow. Many resources are also available in Spanish.
Customers can reach Bank of America through various channels, including its mobile app. However, this can sometimes lead to confusion, as different products and services have separate support numbers.
Online reviews of customer service are mixed. On Trustpilot, satisfied customers report that customer service agents communicate well and work hard to resolve problems. Unhappy customers report long wait times and unhelpful customer service agents.
When using the mobile app or online banking, SSL encryption protects your account. Biometric and two-factor authentication are also available. Furthermore, you can set up text alerts to notify you of any transactions made with your card.
The bank has a dedicated security team and a 24/7 hotline for reporting suspected fraud. Additionally, its online Security Center features articles on how to protect yourself from known security risks.
If unauthorized transactions occur on your account, you won’t be held liable if you report them to Bank of America promptly.
The Bank of America Business Advantage Travel Rewards World Mastercard® is perfect for small business owners who travel frequently and want to earn points for future trips. With no annual fee, unlimited employee cards, 0% Introductory APR, and business tools, this card lets you turn everyday purchases into opportunities for client dinners and business-expanding travel.
This review was completed based on information from the Bank of America and Trustpilot websites.
Disclosure: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
Editorial disclosure: The credit card offers and information presented on this page are current as of the published date. However, credit card terms, including APRs, fees, and promotional offers, are subject to change without notice. Some offers listed may no longer be available or may have expired. Please refer to the issuer's website for the most up-to-date terms and conditions.
Agata Antonow writes for BestMoney.com. She is a business and education writer with many years of experience working with and contributing to the likes of business.com, Gale Business Insights, the Encyclopaedias of Emerging Industries and American Industries, and Worldmark Global Business and Economy Issues.