Bank of America® Platinum Visa® Business credit card

Advertiser & Editorial Disclosure

If you’ve had trouble qualifying for other business credit card, you may find that the Bank of American Business Platinum card is within your reach.   With this card, business owners who don’t have the “excellent” credit can still take advantage of several perks, including an 0% introductory APR offer,… Continue

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No-fee, low interest rate card with no rewards

Bank of America® Platinum Visa® Business credit card

Intro APR 0% for 7 billing cycles on purchases
Annual Fee $0.00

Rates and Fees

Intro APR 0% for 7 billing cycles on purchases
Purchase APR 11.24% - 22.24% 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 N/A

Details

  • Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening
  • Save on interest with a competitive purchase APR
  • No annual fee
  • 0% Introductory APR on purchases for your first 7 billing cycles
  • Employee cards at no additional cost to you and with credit limits you set

Nav's Verdict

Bottom Line This no-fee small business card is designed for those looking for a lower interest rate instead of rewards.

If you’ve had trouble qualifying for other business credit card, you may find that the Bank of American Business Platinum card is within your reach.  

With this card, business owners who don’t have the “excellent” credit can still take advantage of several perks, including an 0% introductory APR offer, a low APR, and no annual fee.

However, this card does not offer any type of rewards program, so if that’s what you’re searching for, you may want to consider another Bank of America Business credit card, such as the Bank of America® Business Advantage Cash Rewards Mastercard® credit card or the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card.

The Bank of America® Platinum Visa® Business credit card was designed as a no-frill card for business owners with good credit.

If you are approved for this card, you can likely take advantage of the ongoing cash back welcome offer as well as a low APR, particularly when compared to other cards on the market. Plus, there is no annual fee, which makes this a low-risk addition to your wallet.

In addition, there are some other perks, such as get free employee cards and travel insurance perks. That said, many of those perks are also standard among competitor cards as well.

If it’s benefits and rewards you’re after, and you have excellent credit, it’s probably best to consider the Bank of America® Business Advantage Cash Rewards Mastercard® credit card, which will help you 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.

Further, the Bank of America® Business Advantage Cash Rewards Mastercard® credit card, as well as the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card, become even more valuable for Bank of America customers, who can increase their rewards points by up to 75%.

Finally, if you are struggling with average credit but want to take advantage of business rewards, you may want to consider the Capital One® Spark® Classic for Business, which offers a basic 1% cash back on all purchases.

In the end, this is a lackluster card with minimal perks, but if you’re not looking for a card to use every day, or if you weren’t approved for cards with excellent credit score requirements, then it may be a reasonable option.

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About Author

Jennifer Lobb

Jennifer Lobb

Jennifer is a alum of the University of Denver. While in the graduate program there, she enjoyed spending time identifying ways in which non-profits and small businesses could develop into strong and profitable organizations that while promoting strong community growth. She also enjoys finding unique ways for freelancers and start-up businesses to reach and expand their goals.