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Apply online for Bank of America® Business Advantage Cash Rewards Mastercard® credit card
About Our Ratings
Credit Needed
Excellent

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

Pros & Cons

  • Cardholders are rewarded in categories where business owners frequently do a lot of spending.
  • An intro 0 percent APR on purchases for nine billing cycles (then, 12.24% - 22.24% Variable APR on purchases) can help business owners cover some large expenses or start-up costs without racking up interest charges.
  • Cash rewards can be redeemed as statement credit or directly into a Bank of America small business checking or savings account.
  • There's no annual fee, but you will pay 3 percent per transaction if you use your card while abroad.

Top Features

Special Offer
$200 statement credit 
after $500 in purchases within 60 days of account opening
Purchase Intro
APR:
0%
Period:
9 billing cycles
Purchase APR
12.24% - 22.24% Variable APR on purchases
Annual Fee
$0.00

Full Review

Brooklyn Lowery Site Editor

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

If you're a business owner who spends a lot of time on the road and finds yourself stocking up on office supplies at a good clip, the Bank of America® Business Advantage Cash Rewards Mastercard® credit card may be just what the doctor ordered. Plus, new card members will be instantly rewarded for spending within the first 60 days of card ownership and there's no annual fee.

A combination of a small business credit card with the added benefit of cash rewards makes this card a great companion for business owners looking to save in the long run by earning cash back on everyday business expenses. And earning those rewards is pretty straightforward. Unlike some other cards out there, you don't have to worry about rotating categories for your cash back rewards, the Bank of America® Business Advantage Cash Rewards Mastercard® credit card rewards program is pretty cut and dry.

The Bank of America® Business Advantage Cash Rewards Mastercard® credit card gives you 3 percent cash back on purchases made at gas stations and office supply stores. Additionally, cardholders receive 2 percent back on purchases at restaurants and 1 percent on all other purchases. There is an annual cap of of $250,000 on combined gas station and office supply store purchases, but even then you still earn rewards - they just drop to a 1 percent earn rate after you reach that cap each year.

New card holders can currently take advantage of a special online-exclusive promotion earning a $200 statement credit within two billing cycles of opening an account. If you make $500 in purchases within the first 60 days of card ownership, that $200 is all yours.

Here's a quick snapshot of some other perks the Bank of America® Business Advantage Cash Rewards Mastercard® credit card offers:

  • No annual fee.
  • No limit to the base cash back you can earn.
  • Redeem your cash rewards for either statement credit or apply them to a Bank of America® small business savings or checking account.
  • 0 percent APR on purchases for the first nine billing cycles (then, 12.24% - 22.24% Variable APR on purchases).

What Our Editors Like Most about Bank of America® Business Advantage Cash Rewards Mastercard® credit card

The Bank of America® Business Advantage Cash Rewards Mastercard® credit card makes earning rewards straightforward with defined cash back percentages that don't change each month.

Card owners can redeem their cash rewards for cash back (in $25 increments) or apply them to a Bank of America® small business savings or checking account, allowing you to put that money right back into your business for future expenses.

Card ownership comes with a suite of cash flow management tools to help you manage your business with options for automatic payments, transfers and the ability to download transactions into QuickBooks. Plus, you can track it all in Bank of America's MyReport Center.

The Bank of America® Business Advantage Cash Rewards Mastercard® credit card also offers several options for credit security including protecting yourself from unauthorized transactions and preventing declined purchases should you go over your credit limit. These include:

  • Zero liability protection for unauthorized transactions.
  • An optional service of overdraft protection to help prevent declined purchases, returned checks or other overdrafts by linking your credit card to a Bank of America small business checking or savings account.
  • Fraud monitoring to block potential fraud if abnormal patterns are detected and notification of suspected fraudulent activity on your account.
  • The option for paperless statements to help with increasing your security.

You'll also be pleased to know as a cardholder, this marks the ninth year in a row that Bank of America has been recognized for their fraud prevention, detection and resolution with a Best Overall Identity, Safety in Banking Award from Javelin Strategy and Research.

Potential Downsides of the Bank of America® Business Advantage Cash Rewards Mastercard® credit card

If you travel overseas often, this card won't be so rewarding as there's a 3 percent foreign transaction fee on purchases.

Additionally, your rewards can only be redeemed in $25 increments and the redemptions don't occur automatically. That means you'll need to remember to cash in from time to time or could perhaps leave rewards sitting in the account each month as you accumulate toward that $25 threshold.

How Bank of America® Business Advantage Cash Rewards Mastercard® credit card Compares to Other Cash Reward Cards

Bank of America® Business Advantage Cash Rewards Mastercard® credit card vs. Capital One® Spark® Cash for Business

Capital One® Spark® Cash for Business cardholders don't have to remember which purchases earn them a higher or lower percentage because with this card they earn 2 percent back on every single purchase. Plus, there are no reward earning caps and cardholders can redeem their rewards in any amount at any time (unlike with the Bank of America® Business Advantage Cash Rewards Mastercard® credit card where you must redeem in $25 increments). While there's no annual fee the first year, be prepared to pay $59 annually after that, but if your business takes you overseas, you'll appreciate that there are no foreign transaction fees with Capital One® Spark® Cash for Business.

Bank of America® Business Advantage Cash Rewards Mastercard® credit card vs. the Ink Business CashSM Credit Card

More cash back rewards, a cash bonus based on spending within the first three months and no annual fee come with the Ink Business Cash℠ Credit Card. While the Bank of America® Business Advantage Cash Rewards Mastercard® credit card highest cash back reward is at 3 percent for the purchase of gas and office supplies, Ink Business CashSM Credit Card cardholders can earn 5 percent cash back on the first $25,000 in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year. Then earn 2 percent cash back on the first $25,000 in combined at gas stations and restaurants each account anniversary year. You cap out more quickly with the Ink Business Cash℠ Credit Card, which only offers these deals on the first $25,000 spent. With the Bank of America® Business Advantage Cash Rewards Mastercard® credit card, you have to spend $250,000 before your rate of reward drops down to 1 percent. Take a look at the categories to determine which card is the better option for you.

Bank of America® Business Advantage Cash Rewards Mastercard® credit card vs. Capital One® QuicksilverOne® Cash Rewards Credit Card

While the Bank of America® Business Advantage Cash Rewards Mastercard® credit card has no annual fee, the Capital One® QuicksilverOne® Cash Rewards Credit Card does have an annual fee of $39. Both cards offer straightforward rewards with no rotating categories, however the percentages earned in similar categories differ. While Bank of America card offers tiered reward categories, Capital One® QuicksilverOne® Cash Rewards Credit Card holders earn 1.5 percent cash back on every purchase. And unlike the Bank of America card, which caps out your reward earnings annually in the gas and office supplies category, there are no caps with the Capital One® QuicksilverOne® Cash Rewards Credit Card.

Who Should Get the Bank of America® Business Advantage Cash Rewards Mastercard®

This card is an easy to manage cash rewards card for small business owners. With no annual fee, ease of earning cash back rewards and no annual fee, plus added tools to help you manage your business and spending, the Bank of America® Business Advantage Cash Rewards Mastercard® credit card can help small business owners save some money while growing their business without the additional cost of annual fees.

This page was last updated on July 05, 2017

This card compared to other business cards

Special Offer
$200 statement credit 
after $500 in purchases within 60 days of account opening
$500 Cash Back once you spend $4,500 on purchases within 3 months from account opening
Earn up to $400 cash back. Earn a $200 statement credit after you spend $5,000 in qualifying purchases on your Card within the first 6 months of Card Membership. Plus, earn an additional $200 statement credit after you spend an additional $10,000 or more in qualifying purchases on your Card within the first year of Card Membership
Purchase Intro
APR:
0%
Period:
9 billing cycles
APR:
N/A
APR:
0% on Purchases
Period:
for 9 months
Purchase APR
12.24% - 22.24% Variable APR on purchases
17.99% (Variable) 
13.24% - 20.24% Variable 
Annual fees
$0.00
$0 intro for first year; $59 after that
$0
CardRatings.com Editorial Staff

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

Special Offer
$200 statement credit 
after $500 in purchases within 60 days of account opening
Purchase Intro
APR:
0%
Period:
9 billing cycles
Purchase APR
12.24% - 22.24% Variable APR on purchases
Annual Fee
$0.00

What Bank of America says about this card

  • Earn a $200 statement credit after $500 in purchases within 60 days of account opening - with no annual fee and no limit to the base cash back you can earn
  • 3% cash back on purchases at gas stations and office supply stores, 2% on purchases at restaurants, and 1% on all other purchases (Annual cap of $250,000 on combined gas station and office supply store purchases; then 1% earn rate after that)
  • Redeem your cash rewards for cash back, or apply them to a Bank of America® savings or checking account

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Special offers
Currently available on the Bank of America® Business Advantage Cash Rewards Mastercard® credit card
$200 statement credit
After $500 in purchases within 60 days of account opening

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Apply online for Capital One® Spark® Cash for Business

Capital One® Spark® Cash for Business

  • Earning unlimited 2% cash back could mean thousands of dollars each year going back into your business
  • Plus, a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
  • Use Spark Cash across all your business spend, with no categories to limit your purchasing
  • $0 intro annual fee for the first year; $59 after that
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount, anytime
  • Get employee cards at no additional cost, and earn rewards from their business spend
Credit Needed:
Excellent, Good
Apply online for SimplyCash® Plus Business Credit Card from American Express

SimplyCash® Plus Business Credit Card from American Express

  • Special Offer: Earn up to $400 cash back
  • Earn a $200 statement credit after you spend $5,000 in qualifying purchases on your Card within the first 6 months of Card Membership.
  • Plus, earn an additional $200 statement credit after you spend an additional $10,000 or more in qualifying purchases on your Card within the first year of Card Membership.
  • No Annual Fee. Plus, more buying power and more cash back.
  • 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores.
  • 3% on the category of your choice from a list of eight and 1% cash back on other purchases.
  • 5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% thereafter. Cash back received is automatically credited to your statement.
  • Terms and limitations apply
Terms and Limitations Apply
Credit Needed:
Excellent, Good