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

Advertiser & Editorial Disclosure

With no annual fee and a 0% introductory APR, and up to 3% cash back, is a good option for business owners who spend a lot of money on gas and office supplies. Though anyone can apply for this card, Bank of America business checking customers have a distinct advantage.… Continue

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Great rewards you can choose and a high cap

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

Intro APR 0% for 9 billing cycles on purchases
Annual Fee $0.00

Rates and Fees

Intro APR 0% for 9 billing cycles on purchases
Purchase APR 14.49% - 24.49% Variable APR on purchases
Annual Fee $0.00
Welcome Offer $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening.
Rewards Rate 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.

Details

  • Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening – with no annual fee, no cap on the amount of cash rewards you can earn and they don't expire
  • Earn 3% cash back on your choice of one of the following six categories: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter) and 1% cash back on all other purchases
  • 0% Introductory APR on purchases for your first 9 billing cycles
  • Redeem your cash rewards as a statement credit, check, or have cash deposited into a Bank of America® checking or savings account
  • Get a 75% rewards bonus on every purchase when you’re a Business Advantage Relationship Rewards Platinum Honors tier client. That means you will earn 5.25% on your selected choice category, 3.5% on dining and unlimited 1.75% cash back on all other purchases

Nav's Verdict

Bottom Line With your ability to choose rewards and a high cap, this card can bring in great rewards.

With no annual fee and a 0% introductory APR, and up to 3% cash back, Bank of America® Business Advantage Cash Rewards Mastercard® credit card is a good option for business owners who spend a lot of money on gas and office supplies.

Though anyone can apply for this card, Bank of America business checking customers have a distinct advantage. Not only can they send their cash back rewards directly to their checking account, but they can also earn up to 75% more cash back with this card when they enroll in the Business Advantage Relationship Rewards Program.

There are, of course, other Bank of America Business cards available, some of which may well suit your needs. For example, the BoA Travel Rewards Mastercard for Businesses is a great option for frequent travelers, while the Bank of America® Platinum Visa® Business credit card card is great for those who prefer low-interest rates over rewards.

Features & Rewards

You’ll earn a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening..

Earn 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.

Card Review Details

If you’re spending a significant amount of money on office supplies and gas, then this card may be a good choice. Any purchases in those categories can gain you 3% cash back, and with a $250,000 cap, that’s a lot of room to spend.

With that in mind, this card is also a good fit if you are an existing Bank of America business customer, or if you plan on becoming one.  The primary reason is the Business Advantage Relationship Rewards program, which can help you earn an additional 25% – 75% cash back in all categories.  

However, it’s worth noting that your cash back rewards can be transferred directly from your card account into your checking account, should you choose to redeem that way.

The deal is sweetened when you factor in the introductory APR of 0% for 9 billing cycles on purchases and the $0.00 annual fee. Plus, qualifying customers may also find that this Bank of America credit card offers a lower APR when compared to others on the market.

Conversely, this card may not be right if the bulk of your business spending doesn’t fall into the top earning categories, in which case another cash back rewards card may be a better fit.  This is particularly true for business owners who spend a significant amount of money on travel expenses like hotels, flights, and car rentals will only earn you 1% cash back.

What is the $0.00Foreign Transaction Fee?

Cardholders who use the $0.00 to complete foreign transactions will be required to pay a 3% international transaction fee.

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