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

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Our Detailed Review of This Card

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For a business credit card with an easy-to-earn bonus, solid cash back rewards and a 0% intro APR on purchases — all with no annual fee — look to the Bank of America® Business Advantage Cash Rewards Mastercard® credit card.

To start, apply online and you’ll have the opportunity to earn a $300 bonus after spending $3,000 on purchases within 90 days of account opening. Beyond that intro bonus, the Bank of America® Business Advantage Cash Rewards Mastercard® credit card lets you pick the category that earns your business the most cash back — and you can change the category each month. This is an incredibly valuable feature because you know where your business spends the most and you’re free to switch the category to adapt to your business’ changing needs. You’ll earn 3% cash back on your choice of one of six categories as well as 2% cash back on dining (up to $50,000 in combined choice category/dining purchases per calendar year, 1% thereafter) and 1% on all other purchases. The six choice categories include (1) gas stations, (2) office supply stores, (3) travel, (4) TV/telecom & wireless, (5) computer services or (6) business consulting services.

Your earned rewards can be redeemed for cash back in $25 increments, or they can be redeemed directly into a qualifying Bank of America® savings or checking account. Plus, if you’re a Business Advantage Relationship Rewards client, you can get up to a 75% rewards bonus on the base earn of every purchase you make, depending on your enrolled tier. Gold clients will earn 25%; Platinum, 50%; or Platinum Honors, 75%. That means a Gold tier clients will actually get 3.25% on the category of their choice, 2.25% on restaurants and 1.25% on all other purchases.

Another pair of helpful features for businesses are the 9-billing-cycle 0% intro APR on purchases (after that, it’s 14.49% - 24.49% Variable, depending on creditworthiness) and free employee cards. With that 0% intro purchase APR, you can make any up-front business purchases you need to help your business grow without having to pay any interest for 9 billing cycles. As for the free employee cards, adding on additional cardholders (at no extra fee) can help you really rack up the cash back rewards. Plus, you’ll have the power to set the credit limits for your employee cards, preventing unexpectedly high expenses.

As mentioned before, all of these advantages — a $300 bonus opportunity, cash back rewards and a 9-billing-cycle 0% intro purchase APR — all come with no annual fee, making the Bank of America® Business Advantage Cash Rewards Mastercard® credit card a straightforward cash back credit card pick for small business owners.

Rewards

  • Earn a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening.
  • Plus, earn 2% cash back on dining, 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) and 1% on all other purchases.

Redeem Rewards

  • Redeem cash rewards for cash back, or apply them to a Bank of America® savings or checking account.

Fees and APR

  • Annual Fee: $0.
  • Purchase APR: 0% for 9 billing cycles, then 14.49% - 24.49% Variable APR on purchases, depending on credit history.
  • Balance Transfer APR: 14.49% - 24.49% Variable APR on balance transfers, depending on credit history.
  • Balance Transfer Fee: Either $10 or 4% of the amount of each transaction, whichever is greater.
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