Credit Cards
Bank of America Unveils New Credit Card for High-Flying Business Travelers
- Bank also expands offerings for cardholders through app
- New card includes insurance coverage for lost, delayed bags
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Bank of America Corp. is adding a commercial credit card for on-the-go businesspeople in a bet that work travel will eventually return.
The new Executive Explorer card will offer statement credits for travel perks such as expedited security clearance at airports and enhanced insurance for lost or delayed luggage, the lender plans to announce Wednesday. As much as $5,000 in baggage claims will be covered, compared with $2,000 for competitors’ cards, Bank of America said. The company also expanded its mobile offerings with an app that lets customers to check their balances, temporarily lock their cards and access other information from their smartphones.