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

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

If you spend heavily in business categories, there's a lot of rewards-earning potential to be had with this card. Plus, enjoy a generous welcome bonus and no annual fee.

Written by
Jennifer Doss
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Small Business Card

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

  • Rewards
  • Earn 3% cash back in the category of your choice: gas stations & EV charging stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining purchases and 1% cash back on all other purchases. You'll earn 3% cash back on purchases in the category of your choice and 2% cash back on dining purchases on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
  • Welcome Bonus
  • Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
  • Annual Fee
  • $0.00
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5.0
Credit Score: Excellent
Apply Now
on Bank of America's secure website
Terms and Limitations Apply

Key Features

Editor Analysis:

Pros
  • Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days after opening an account.
  • Earn 3% cash back in the category of your choice: gas stations and EV charging stations, office supply stores, travel, TV/telecom & wireless, computer services or business consulting services; 2% cash back on dining purchases; and 1% cash back on all other purchases.
  • You'll earn 3% cash back on purchases in the category of your choice and 2% cash back on dining purchases on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
Cons
  • This is not a great card if you often travel abroad for business or need to make transactions in a foreign currency as the card charges a foreign transaction fee on these purchases.
ALTERNATE CARD TO CONSIDER

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CardName benefits

There is a lot to like about the CardName.

Some of the benefits of this card include:

  • A $300 welcome bonus – If you spend at least $3,000 in the first 90 days of opening an account, you’ll get a $300 online statement credit.
  • 3% cash rewards – You’ll get 3% cash back in the category of your choice. Categories include gas stations and EV charging stations, office supply stores, travel, TV/telecom and wireless services, computer services or business consulting services.
  • 2% cash rewards – Dining purchases made with the card will earn you 2% back. (You get 3% and 2% on the first $50,000 you spend each year, and then it reverts to 1% for the rest of the year.)
  • 1% cash rewards – Earn 1% on all other purchases.
  • You can earn even more rewards as a Bank of America customer – If you have a business checking account with Bank of America and qualify for Preferred Rewards for Business Platinum Honors tier, you could earn up to 5.25% cash back on your selected choice category.
  • No annual fee – Annual fees often pay for a lot of extra perks, and so an annual fee can be a sign that you’ve got a good card. That said, who wants to pay fees? If you’re looking for a good credit card that has no annual fee, this is a good option to consider.
  • 0% introductory APR offer – Enjoy introductory 0% APR on new purchases made with the card in the first intro_apr_duration. Then regular RegAPR applies.

Potential downsides of the CardName

Every credit card has some negatives, meaning the CardName has a few to note, though not many.

A couple of potential downsides include:

  • No intro APR on balance transfers – If you were hoping to transfer credit card debt to a card and to get a break on interest for a while, this isn’t the card for that. But, there is a nice intro APR offer on purchases.
  • Foreign transaction fee – Bank of America’s website calls it an international fee. Whatever your preference, this isn’t a great card for international business travel. If you use this credit card in another country or buy anything in a foreign currency, you’ll pay foreign_fee.

How does the CardName compare to other cards?

CardName vs. CardName

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The CardName is also worth considering. If these cards were siblings, they would be twins, but fraternal twins rather than identical.

Basically, if you like the CardName or think it has a lot of potential, but you’re not thrilled about the idea of keeping track of how much cash you get in various categories or don’t like the $50,000 cap that limits the rewards, you may prefer the CardName.

Some points that you may like include:

  • A strong cash-back welcome bonus – If you spend at least $3,000 in the first 90 days of opening the account, you’ll get a $300 online statement credit. That’s a 10% cash-back bonus.
  • Cash rewards galore – You’ll earn 1.5% cash back on everything you buy – and it’s unlimited.
  • Even more rewards if you have a Bank of America business checking account – if you join Preferred Rewards for Business for no fee and qualify for Preferred Rewards for Business Platinum Honors tier, you can earn up to an unlimited 2.62% cash back on all purchases.
  • No annual fee – As we’ve said, annual fees often pay for a lot of perks. But both of these Bank of America cards lack an annual fee, and nobody’s going to complain about that.
  • 0% introductory APR offer – Enjoy introductory 0% APR on new purchases made with the card for the first intro_apr_duration. Then regular RegAPR applies.

CardName vs. CardName

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CardName is another credit card that goes for simplicity when it comes to cash rewards. It gives its customers 1.5% unlimited cash back.

What are some of the standout features that Chase has, that may or may not make you prefer it to the CardName?

  • A generous welcome bonus – The sign-up bonus is more generous than Bank of America’s offering. You can earn $900 cash back, but you have to spend $6,000 on purchases in the first three months to earn it.
  • Your rewards may go further if you’re a Chase member – Just as the Bank of America’s credit card rewards can go further if you have a business checking account with them, the CardName rewards consumers who do a lot of business with Chase. For instance, you can transfer your rewards to other Chase accounts that earn Chase Ultimate Reward points, and that may stretch your dollars further.
  • An introductory 0% APR period – Enjoy introductory 0% APR on new purchases for intro_apr_duration. (Then regular RegAPR applies.)
  • No annual fee – That is also the case with the Bank of America card.

Is the CardName a good card?

Yes, it is, if you’re looking for a lot of cash back (in this case, 3%) in its top spending categories: gas stations/EV charging stations, office supply stores, travel, TV/telecom & wireless, computer services or business consulting services. If you spent $50,000 in one of those categories (and you get to only pick one), you could earn $1,500 back each year just on that spend alone.

Still, whether a credit card is a good card often depends on what you’re looking for in a card. But if you’re a business owner, and especially if you’re a Bank of America customer, this is a card that’s definitely worth considering.

Frequently asked questions

The CardName requires excellent credit for approval; however, approval can also depend on other factors like your business's financial history, annual revenue, and overall creditworthiness.
When applying for a business credit card you'll need your tax ID number (EIN), or, if you don't have an EIN, you can enter your personal social security number instead. In general, try to also have the following information handy when you apply: business name, business address, type of business, tax ID number, number of employees, annual revenue/sales, monthly expenses, number of years in business, ownership type (publicly traded, privately owned, etc.), and business structure (LLC, corporation, non-profit, etc.).
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Our Methodology

Survey methodology: CardRatings commissioned Op4G in September 2023 to conduct surveys among 1,869 cardholders nationwide. CardRatings website analytics from Jan. 1, 2023-Aug. 31, 2023 were used to determine a selection of the most popular cards and additional cards were included to add survey breadth. Responses to each of nine questions were given on a scale of 1-10 and respondents’ scores were then averaged under broad topics. To determine the overall score, responses from questions 1-8 were summed and the answer to “How likely are you to recommend this card to a friend, coworker or family member?" was double weighted. Current Scores reflect scores from the most recent survey (2023); “Past Scores” reflect scores from the 2022 survey.

Disclaimer:The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.

This content is not provided by any company mentioned in this article. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any such company. CardRatings.com does not review every company or every offer available on the market.

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