Bank of America Business Credit Cards: How to Find the Right One for You

Bank of America Business Credit Cards: How to Find the Right One for You

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Bank of America is one of the largest retail banks in the U.S. For small business owners, it can be a great place for numerous banking services, including business credit cards. It offers seven different business credit cards designed to meet nearly all of your needs, including cash reward cards, low-interest cards and travel reward cards.

All of these cards are specifically designed to benefit business owners, not consumers. Business credit cards generally require applicants’ personal credit scores to qualify them for a card, and depending on how the card’s activity is reported to consumer and business credit bureaus they can be a good tool for establishing and building your business credit. You can check your full business credit profile for free on Nav.

Let’s take a look at these cards, and see which one makes the most sense for your company.

Cash-Back Credit Cards

Bank of America® Business Advantage Cash Rewards Mastercard® credit card

Bank of America® Business Advantage Cash Rewards Mastercard® credit card

Get a $200 statement credit when you make at least $500 in net purchases within 60 days of Learn More

Bank of America offers this as its only cash rewards business card. It features a $200 statement credit when you make at least $500 in net purchases within 60 days of your account opening. You also receive 3% cash back on purchases at gas stations and office supply stores (up to $250,000 each calendar year, 1% after that), 2% cash back on purchases at restaurants, and 1% cash back on all other purchases..

Cash back can be redeemed as a statement credit or a deposit in a Bank of America account, starting at $25. It also offers a 0% for 9 billing cycles, followed by a reasonable ongoing APR. There’s no annual fee for this card.

Travel Reward Cards

Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much Learn More

Small business owners can use this card to get travel rewards from their purchases: 1.5 rewards points for every $1 on all purchases and 25,000 bonus points when you spend $1,000 in net purchases within 60 days and 3 points for every $1 spent for travel booked through the Bank of America® Travel Center - powered by Orbitz®..

It also offers a 0% for 9 billing cycles, followed by a competitive ongoing APR. There’s no annual fee for this card, and no foreign transaction fees.

Alaska Airlines Visa Business Card

Terms are subject to change. Details listed are accurate as of 7/31/2017. Alaska airlines is popular with business travelers in the northwest, and is growing rapidly since its acquisition of Virgin America. Business travelers can earn Mileage Plan rewards with this card, along with other valuable benefits. New cardholders earn 30,000 bonus miles and a $99 companion fare certificate (plus taxes and fees) after making $1,000 of purchases within 90 days of account opening. It also offers a free checked bag on Alaska and Virgin America flights for the cardholder and up to six other passengers on the same reservation.

When used for purchases, this card features three miles per dollar spent on Alaska and Virgin America flights, and one mile per dollar spent elsewhere. With the Business Level Earning Plan, this card has an annual fee of $50 per company and $25 per card. Or, with the Individual Level Earning Plan, the annual fee is $0 per company, and $75 per card. Finally, this card has are no foreign transaction fees.

Spirit Airlines World Mastercard for Business

Terms are subject to change. Details listed are accurate as of 7/31/2017. Spirit is a leader among ultra-low-cost airlines, and Bank of America offers a business credit card that lets you earn additional rewards in the airline’s Free Spirit program. You earn 15,000 miles after your first purchase, and another 5,000 miles each year that you spend more than $10,000 in purchases. This card also offers you two miles per dollar spent on all purchases. There’s a $59 annual fee for this card that’s waived the first year, and a $20 annual fee for each additional cardholder that’s not waived.

Asiana Airlines Visa Business Card

Terms are subject to change. Details listed are accurate as of 7/31/2017. Asiana is one of the largest Korean airlines, and it offers service from several cities in the U.S. to many destinations in Asia. This card offers new applicants 10,000 bonus miles after their first purchase, and double miles on all Asiana purchases. You earn one mile per dollar spent elsewhere. Cardholders also have the opportunity to earn two annual $100 statement rebates on the ticket purchases for Asiana flights departing from the US. There’s an $80 annual fee for this card.

Low-APR Credit Cards

Bank of America® Platinum Visa® Business credit card

Bank of America® Platinum Visa® Business credit card

Get a $200 statement credit when you make at least $500 in net purchases within 60 days of Learn More

This card offers a $200 statement credit when you make at least $500 in net purchases within 60 days of your account opening.. It also offers an introductory APR of 0% for 7 billing cycles. There’s no annual fee for this card.

Platinum Plus for Business Mastercard

Terms are subject to change. Details listed are accurate as of 7/31/2017. This card is part of the MasterCard payment system, but otherwise its terms are identical to the Platinum Visa Business card. It also features a $200 statement credit after new cardholders spend at least $500 on new purchases within 60 days of account opening. And it has the same seven months of 0% APR financing on new purchases, followed by an identical variable APR of 10.24% to 21.24%. Likewise, there’s no annual fee for this card.

More Offers to Consider

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About the Author — Jason Steele is an expert in the credit card industry. He is frequently quoted in national media and his work is regularly featured by mainstream outlets such as Yahoo! Finance, MSN Money, and Business Insider.

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