Best Bank of America Business Credit Cards

Best Bank of America Business Credit Cards

Bank of America has long been known as a resource for small business checking and savings accounts, but they also offer a few additional business credit cards that are worth considering.  This is particularly true if you’re already an existing Bank of America business checking account customer, as you may be able to secure even more perks and credit card rewards when you enroll in the Bank of America Business Advantage Relationship Rewards program.  

Which BoA business credit card is right for you? That depends on your spending needs. If you spend a significant amount of money on travel you may want to consider the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card. Spend a lot on office supplies, gas, and dining out? The Business Advantage Cash Rewards program can help you maximize those purchases with a competitive cash back program. Still, if your primary goal is to find a card with a low APR, then the Bank of America® Platinum Visa® Business credit card may be your answer.

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

If your primary business expenses are travel related, then this Bank of America small business card may be right for you. Cardholders can earn 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®.

Though BoA’s travel card isn’t considered the most aggressive card on the market, 3 points back are still largely competitive. Plus, existing Bank of America business checking account customers can earn 25% – 75% more points by enrolling in the Business Advantage Relationship Rewards program. 

Finally, with a $0.00 annual fee, and no international transaction fees, this card is great for business owners who want to leverage travel rewards but don’t want to worry about paying an annual fee, something that’s often standard for other travel rewards cards.

Best Cash Back Card: Bank of America® Business Advantage Cash Rewards Mastercard® credit card

The Bank of America® Business Advantage Cash Rewards Mastercard® credit card gives cardholders plenty of opportunities to earn. Earn 3% cash back on the category of your choice (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter), 2% cash back on dining, and 1% cash back on all other purchases. Plus, you can also earn an additional $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening.

Like the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card, this Bank of America business credit card also features a 0% promotional APR for the first nine months, and business checking customers can 25% – 75% more cash back when they enroll in the Business Advantage Relationship Rewards program. 

This card is a great option for business owners who want a straightforward rewards program that doesn’t require point or mile conversions – just simple cash back. Further, business owners who do spend a significant amount on office supplies or gas will get the most out of this card.  

It’s also worth noting that with rates as low as 13.49% (13.99% - 23.99% Variable APR on purchases), this BoA business credit card is highly competitive when compared to other cash back business cards on the market. This is particularly true when it’s paired with a $0.00 annual fee.

Best Low-Interest Card: Bank of America® Platinum Visa® Business credit card

The Bank of America® Platinum Visa® Business credit card is marketed as a low-interest business credit card, and with a competitive interest rate, this statement holds true. Not only does the Bank of America® Platinum Visa® Business credit card offer the lowest rates among all three products in the BoA business credit card portfolio, but it also is typically lower than many of the top business credit cards on the market. 

New customers can snag a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening. In addition, there is a $0.00 annual fee. Combined with the low-interest rate, these two factors can make this Bank of America business credit card a particularly attractive option for new small business owners want a business card on hand but don’t plan to use it for everyday expenses. 

This card does, however, carry a foreign transaction fee of 3% of the U.S. dollar amount of each transaction. So, if you anticipate using this card while traveling, you may want to consider one of the other BoA cards above.  The same is true if you know you’ll be using the card regularly, as this BoA business credit card does include any type of reward program.

Best BoA Co-Branded Card: Alaska Airlines Visa® Business credit card

The Alaska Airlines Visa® Business credit card offers a competitive rewards program and numerous perks.  If you travel with Alaska even a few times a year, you can likely get some value out of this card, even with the $50 for the company and $25 per card annual fee. 

The card typically has a strong welcome offer. At the time of publication, new card members could earn 40,000 Bonus miles when you make at least $2,000 in purchases within the first 90 days of opening your account. In addition, you can earn 3 miles for every $1 spent directly on Alaska Airlines purchases and 1 mile for every $1 spent on all other purchases.

There are no earning caps or blackouts, and you can redeem your points for flights as well as hotel stays at over 400,000 properties when you book through Alaska Airline Hotels. You can also use miles to book flights with one of 18 airline partners, including American Airlines, British Airways, Cathay Pacific, and Japan Airlines

Once you earn 20,000 miles, you can also take advantage of Elite status perks, such as two free checked backs, preferred seating when flying with Alaska, and priority check-in and boarding. Adding to the value is an annual companion pass for only $121 — $99 for the ticket and $22 for taxes and fees.  

With this card, you can also take advantage of basic Bank of America Business perks such as cash flow management tools with QuickBooks integration, online and mobile access, up to $1,000,000 in travel accident and auto rental insurance, overdraft protection, and fraud monitoring.

Choosing the Best Card

If you’re still not sure which card to go with, take time to review your purchasing habits or forecast upcoming ones and determine where your needs lie.  If you find that most of your spending falls into a specific category, like travel or office supplies, then choose the card that offers the most rewards for that category. However, if you plan on carrying a balance and rewards aren’t a priority, then the card with the lowest interest rate and annual fee can serve you well.

What is the Bank of America business credit limit?

Credit limits are based on a variety of factors and will vary from applicant to applicant.  When determining your individual credit limit, credit card companies typically consider things like your payment history, credit score, and revenue. 

Keep in mind that in many cases, credit limits can be adjusted over time. If you improve your credit score, increase your annual revenue or establish a pattern of responsible use over time, you may be able to secure a higher credit limit. Conversely, negative activity can do the opposite.  

What is the Bank of America business credit card credit score requirement?

Bank of America does not provide specific information regarding their credit score requirements as they pertain to the Alaska Airlines Visa® Business credit card or any of their other business credit products. However, approved applicants typically have good to excellent credit. 

If you’re considering opening a Bank of America credit card, or any business credit card for that matter, it’s important to determine your credit score before applying.  Doing so can help you determine the cards for which you are most likely to be approved.  

Keep in mind that your personal credit score is typically taken into consideration when applying for a business credit card.  In accordance with the Fair Credit Reporting Act (FCRA), you can obtain a free copy of your report annually. test.