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

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

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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. There are six different Bank of America business credit cards that can cover nearly all business 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.

Best Bank of America Business Credit Cards

BofA Business Card Good for… Downsides
Business Advantage Cash Rewards Mastercard® credit card Cash rewards, 0% intro APR Limited reward categories
Business Advantage Travel Rewards World Mastercard® credit card Travel rewards, 0% intro APR Rewards limited to travel
Alaska Airlines Visa Business Card Virgin America/Alaska frequent flyers Annual fee
Asiana Airlines Visa Business Card Asiana airlines flyers Annual fee
Platinum Visa® Business credit card 0% intro APR, low APR No rewards rate
Platinum Plus for Business Mastercard 0% intro APR, low APR No rewards rate

Will Bank of America Business Credit Cards Affect My Credit Score?

One great aspect of Bank of America cards is that they do not report any card activity to personal credit reporting agencies. This means that, even if you are late on your business credit card payments, it will not affect your personal credit score.

Bank of America does report payment information on business credit cards to the Small Business Financial Exchange (SBFE), which means that your payment information may show up on your business credit reports.

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.

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 Expedia®..

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 credit card

Alaska Airlines Visa® Business credit card

Limited Time Promotion: Alaska's Famous Companion Fare™ + 30,000 Bonus Miles. Buy one ticket, get one Learn More

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 when you make at least $1,000 in purchases within the first 90 days of opening your account. 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, and a new $99 companion pass each account anniversary.

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 for the 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.

Asiana Airlines Visa Business Card

Terms are subject to change. Details listed are accurate as of 7/20/2018. 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.

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 7/20/2018. 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 10.99% to 21.99%. Likewise, there’s no annual fee for this card.

How Do Bank of America Business Credit Cards Compare to Other Cards?

While the BofA suite of cards is impressive, there are other cards out there that rival the perks available via Bank of America business credit cards.

So what are the best business credit cards out there?

If what you need is a cash-back card, be sure to also check out the Ink Business Cash credit card. It offers a more generous welcome offer, plus 0% APR for 12 billing cycles. The Ink Business Cash card also allows you to choose from our choice of selec reward categories, so there’s more flexibility when it comes to how you earn cash back.

Ink Business Cash℠ Credit Card

Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account Learn More

Frequent travelers have quite a bit to choose from when it comes to Bank of America business credit cards, including niche airlines. Frequent travelers who choose to fly many different airlines, however, should take a look at the Ink Business Preferred Credit Card. This card has an incredible bonus offer, plus your reward points can be transferred to miles with seven different frequent flyer programs or four different hotel programs.

Ink Business Preferred℠ Credit Card

Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. Learn More

Loyal Delta flyers should take a look at the available American Express Business Credit Cards for Delta flyers, They currently offer three different Delta cards with slightly different perks.

When it comes to Bank of America’s low APR business credit cards, they do offer some of the best rates available. Business owners who think they may only need to carry a balance for the first year of using the card should check out this list of the best 0% Intro APR cards.

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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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