BofA Travel Rewards Business Credit Card: 30,000 Bonus Points, No Annual Fee

BofA Travel Rewards Business Credit Card Review

[Note] If this is your first time applying for a business credit card, please read “Introduction to Business Credit Cards” carefully first.

Benefits

• Up to 75% extra rewards with a BofA business account: If you have a BofA business checking account and maintain a certain amount in deposits, the rewards earned on this card can be boosted by as much as 75%. See: BofA Preferred Rewards for Business overview
• 0% APR: You get 9 billing cycles of interest-free purchases after opening the card, as long as you make the minimum payment each month. See: How to pay during a 0 APR period and Practical ways to use credit card 0 APR offers
• No Foreign Transaction Fee (FTF): Most cards with no foreign transaction fee charge an annual fee, so it’s nice that this one has no annual fee. See: Introduction to FTF

BofA card perks

• Free museum admission: On the first weekend of every month, BofA cardholders get free admission to participating museums across the country. You can also add authorized users for family members so they can use this benefit too. For the list of free museums by state, please click here.
• BofA Deal: Offers 5%-15% cash back or fixed-amount rebates at various merchants. Some especially good past deals included AT&T with a net gain of $70, Sears 15% back (up to $25), Nordstrom Rack 15% back (up to $37.5), and an extra $5 for using any one BofA Deal. For details, see “Guide to Using BofA Deals”.
• Free credit score: BofA credit cards now provide a free TransUnion credit score. See: Comparison of free credit scores

My take:

For long-term use, 1.5x is only average, and you only get a 1:1 redemption value when redeeming for travel purchases. The welcome bonus is worth $300+ and there’s no annual fee, which is decent. If you already have a BofA business checking account and keep a certain amount on deposit, the extra 75% bonus can make this card much more attractive.

Application:

• If this is your first time applying for a business credit card, please read “Introduction to Business Credit Cards” carefully first.
• If you have a BofA business checking account, it may help your approval odds, and you may also receive targeted offers with a higher bonus.

• BOA application status check link, or call: (800) 732-9194
• 2/3/4 rule: at most 2 cards approved within 2 months, 3 within 12 months, and 4 within 24 months. However, BofA’s system is not very reliable, and sometimes a card may be approved at first but later shut down.
• The welcome bonus on the same card can only be received once every 24 months, and you need to make sure the card is closed before applying again>
• You need to be a Resident to apply for a BOA credit card online: when applying for a BofA credit card online, if you select Non resident alien, you will not be able to continue and must apply by phone. However, BofA’s definition of Resident alien is different from the IRS definition of Resident alien for tax purpose. No matter what immigration status you used to enter the US, if you have lived in the US for 183 days within the past two years, then select Resident Alien. If you just arrived in the US and cannot meet this requirement, follow the prompt on the online application page and call 1.800.932.2775 to apply.
• You can call the reconsideration line (888-593-6092) to speed up credit card approval or request a review of a denied application.
• More about applying for BofA credit cards

Application link: