BofA Travel Rewards Business Credit Card: 50,000-Point Welcome Bonus, No Annual Fee

Bank of America 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.

Highlights

• Extra 1.5x points through the BofA Travel Center: Through this card’s online banking portal, you can access BofA’s travel center (powered by Expedia, and prices should generally be the same). Purchases made through the travel center earn an extra 1.5x points on top of the card’s base 1.5x points.

• Easy point redemption: Just pay for travel purchases with this card, such as airfare, hotels, rental cars, etc., and you can redeem points to offset those charges.
• 0% APR: For the first 9 billing cycles after account opening, purchases incur no interest; you only need to pay the minimum payment due each month. See: How to handle 0% APR payments and Practical uses of 0% APR credit cards.

BofA Card Benefits

• Free museum admission: On the first weekend of each month, BofA cardholders get free admission to many museums across the country. You can add authorized users for family members so they can also get free admission with their own cards. For the list of participating museums by state, please click here.
• BofA Deals: Offers 5%-15% cash back or fixed-dollar statement credits at various merchants. Some strong past offers have included making $70 on an AT&T purchase, 15% back at Sears (up to $25), 15% back at Nordstrom Rack (up to $37.5), and an extra $5 for using any one BofA Deals offer. 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.

Drawbacks

• The welcome bonus is mediocre among business credit cards.

My Take:

This card is very similar to the personal version, the BofA Travel Rewards credit card; it is simply the business version. Its welcome bonus is 5,000 points higher than the personal card’s 20,000-point bonus, which means an extra $50 in value. One important thing to note is that the $1,000 spending requirement must be completed within 60 days after approval, rather than the more common 90 days. Both versions earn the same 1.5x rewards on all purchases. However, the personal card can receive a BofA Preferred Rewards boost, up to a maximum of 2.625% back on all purchases. The business card has a similar Preferred Rewards program as well.

How to Apply:

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

• 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:

• Bank of America Travel Rewards Business