Bank of America Business Advantage Travel Rewards Review

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The Bank of America Business Advantage Travel Rewards Card offers flat-rate rewards on all your purchases, along with bonus points on travel booked through Bank of America. If your goal is earning rewards for business spending without an annual fee, or if you want to qualify for 0% interest on purchases for a limited time, you may want to consider this card.

Business Advantage Travel Rewards credit card

overall rating
2.4
Business Advantage Travel Rewards credit card
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 12.74% - 22.74% variable
Annual Fee $0
Rewards Earning Rate Earn unlimited 1.5 points for every $1 you spend on all purchases. Earn 3 points per $1 spent on travel booked through the Bank of America Travel center - powered by Expedia
INTRO PURCHASE APR 0% for 9 Billing Cycles
Cash Advance APR (%) 25.74%
Cash Advance Fee Either $10 or 4% of the amount of each transaction, whichever is greater
Ratings Breakdown
for Interest
2.6
for Fees
4.4
for Rewards
3.4
for Credit
4.4

25,000 bonus points when you spend $1,000 in the first 60 days

Who is This Credit Card Best For?

  • Avatar for Entrepreneur Persona
    Is turning their passion into a money-making venture
    Entrepreneur
  • Avatar for Deal Seeker Persona
    Diligently searches for the best products and delights in a good bargain
    Deal Seeker
  • Avatar for Savvy Saver Persona
    Prioritizes sticking to their budget while buying what they want and need
    Savvy Saver
  • Avatar for Road Warrior Persona
    Hits the road often, whether for work or play
    Road Warrior

While this business credit card does let you earn rewards good for statement credits toward travel purchases, points redeemed for travel purchases are not worth as much as those that more premium cards offer—and they aren’t transferable to airline or hotel loyalty programs. That makes this card somewhat inferior as a travel rewards credit card for aggressive travel rewards practitioners, though it does have nice features for someone who doesn’t want to think a whole lot about their rewards card.

There’s no annual fee with this card and it includes a modest 0% introductory interest promotion on purchases. It’s just nine billing cycles long, but it might be helpful if you were planning to make key business purchases and wanted to give your cash flow several months of interest-free breathing room. Also note that members of Bank of America’s Preferred Rewards program can earn up to 75% more base points for every purchase made with the card. That makes the Bank of America Business Advantage Travel Rewards Card a compelling value for current customers of the bank.

Pros

  • Attractive introductory interest offer, followed by a low variable interest rate

  • Potential for more rewards as a Bank of America customer

  • Good rewards rate for regular purchases and travel spending

  • Easy, versatile travel redemptions

Cons

  • High threshold for bonus rewards as a Bank of America customer

  • Limited redemption options for rewards

Pros Explained

  • Attractive introductory interest offer, followed by a low variable interest rate: This card makes it easy to save on interest, both now and later on. First, you will pay 0% interest on purchases for nine billing cycles. Second, applicants with great credit may qualify for the low-end of the ongoing variable interest rate range—that rate is lower than most competing cards.
  • Potential for more rewards as a Bank of America customer: If you have money on deposit with Bank of America already, you have the potential to earn 25% to 75% more rewards for each dollar you spend. 
  • Good rewards earning rate for regular purchases and travel spending: Earning 1.5 points for each dollar you spend is pretty good for a business travel card with no annual fee. Even better? You earn 3 points per $1 on travel purchases made through the Bank of America Travel Center. There are other business credit cards that offer 3 points per $1 or more on travel purchases, but most charge annual fees. 
  • Easy, versatile travel redemptions: Rewards earned with this card are good for any travel purchase that you can book anywhere. You simply ask for a statement credit after you’ve paid for the expense with this card.

Cons Explained

  • High threshold for top bonus rewards as a Bank of America customer: Before you get too excited about earning more rewards as a Bank of America Preferred Rewards customer, you should know that you need to keep a lot of money on deposit to qualify. The top rewards tier requires deposits of $100,000 or more to earn 75% more rewards, whereas the lowest tier of Gold still requires you to have $20,000 to $50,000 on deposit. 
  • Limited redemption options for rewards: Rewards earned with this card are good for travel statement credits, but you can’t transfer rewards to airline or hotel loyalty programs. You also have the option for cash back or gift cards, but not merchandise or other options that come with competing cards. 

Bank of America Business Advantage Travel Rewards Sign-Up Bonus

Once you sign up, you can earn 25,000 bonus points after you make $1,000 in net purchases on your card within 60 days of account opening. These points are worth 1 cent each when redeemed for travel, so the bonus alone is worth $250. 

This bonus is better than nothing, but it’s a lot lower than sign-up bonuses on many other business credit cards, including some with no annual fee. That said, spending $1,000 in 60 days should be a low hurdle for most businesses to clear.

Earning Points & Rewards

The rewards scheme is straightforward with this card—that is, unless you have a well-stuffed deposit account with the bank. You’ll earn 1.5 points for every $1 spent. You’ll earn another 1.5 points on some travel purchases. The base earning rate is pretty good—better even than many competing cards. Earning 3 points per $1 spent on travel sounds good until you notice you only enjoy that rate when booking through Bank of America’s travel portal.

The picture brightens somewhat if you’re a member of Bank of America’s Preferred Rewards Program for Business. Depending on your account balances with the bank, you’ll earn additional points with every purchase:

  • Deposits of $20,000 to $50,000 earn 25% more base points
  • Deposits of $50,000 to $99,999 earn 50% more base points
  • Deposits of $100,000 earn 75% more base points 

You can earn an unlimited number of points with this card, and your points will never expire unless you or the bank close your account (in which case you’ll forfeit your points immediately). 

Redeeming Rewards

Points earned with this card can be redeemed for statement credits to cover travel at a respectable rate of 1 cent per point. This means you can cash in your rewards for airfare, hotels, rental cars, and any other travel purchases you charge to your credit card. You can also redeem rewards for gift cards or cash back, although redemptions for cash back are only worth 0.6 cents per point. 

When you cash in rewards for statement credits to cover travel purchases, you have to redeem at a minimum of 25,000 points. 

How to Get the Most Out of This Card

You’ll get the most out of this card if you use it for all your business spending, including business travel you can book through the Bank of America Travel Center.

Also consider joining the Bank of America Preferred Rewards Program for Business and moving your savings over if you really want to maximize your points haul. If you were able to reach Platinum Honors status, you would earn 2.62 points per $1 spent on regular purchases and 4.12 points for each dollar spent on purchases in the Bank of America Travel Center. 

Even if you were only able to reach Gold status, you would still earn 25% more base points for a grand total of 1.87 points on all purchases and 3.37 points per $1 on Bank of America Travel Center purchases. 

The Preferred Rewards Program offers other perks like interest rate boosts, discounts on services, and fee waivers for members. 

Bank of America Business Advantage Travel Rewards Card’s Excellent Perks

The Bank of America Business Advantage Travel Rewards Card offers a few perks considered “excellent” by the editors of The Balance. These benefits include:

  • Travel accident insurance: This coverage is good for up to $1 million if you face loss of life or accidental dismemberment on a common carrier. 
  • Insurance coverage for lost or delayed luggage: Get reimbursement for carryon or checked luggage if it’s lost by a common carrier. 
  • Trip cancellation coverage: Get reimbursed for prepaid travel expenses when your trip is cancelled for a covered reason.
  • Trip delay coverage: Qualify for reimbursement of qualified travel expenses when your trip is delayed for reasons beyond your control. 

Because Bank of America does not share specific terms of its business credit card benefits, we are not able to fully evaluate their worth. Review your guide to benefits to confirm your benefits and coverages.

Customer Experience

Bank of America earned the seventh spot (out of 11) in J.D. Power’s 2019 U.S. Credit Card Satisfaction Study, which considered the credit card experiences of more than 28,000 customers nationwide. The bank only scored 798 out of 1,000 possible points in the study, whereas the industry average was 806. 

Bank of America does offer a mobile app that makes it easier to pay bills and monitor your rewards with your mobile device. Also be aware that the Bank of America Business Advantage Travel Rewards Card comes with cash flow management tools for your business, including the option to sync your transactions with QuickBooks. 

Security Features

Bank of America offers standard security features on their credit cards including location verification, fraud monitoring and zero liability for fraudulent transactions. 

Bank of America Business Advantage Travel Rewards Card’s Fees

The Bank of America Business Advantage Travel Rewards Card charges standard fees for this industry, although you won’t pay foreign transaction fees on purchases made abroad. 

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CURRENT CARD
Business Advantage Travel Rewards credit card
overall rating
2.4
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 12.74% - 22.74% variable
Annual Fee $0
Rewards Earning Rate Earn unlimited 1.5 points for every $1 you spend on all purchases. Earn 3 points per $1 spent on travel booked through the Bank of America Travel center - powered by Expedia

Our Methodology

  • At The Balance, we are dedicated to giving you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.
  • Our Reviews Are Always Impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive. The scores and reviews come directly from the data we collect and our editorial expertise, and we focus on three areas:
  • How Much Does It Cost? With credit card debt at an all-time high, we believe you should know the cost of carrying a balance. Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees.
  • What Are the Rewards Worth? Cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely. To simplify the problem, we built a system that fairly compares rewards and gives them a dollar value. We do this by looking at the ways you can earn and use rewards, which includes evaluating Americans’ typical spending habits and analyzing common travel patterns.
  • Does It Make Your Life Easier? Our scoring system favors cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting customer service. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges.
  • For every review on The Balance, we hold the credit cards to these standards, and we set the bar high. While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. See our full methodology for more details.