Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card Review
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card
CardRatings Editor's Analysis: Pros & Cons
- If you spend at least $3,000 in the first 90 days of opening an account, you'll get a $300 online statement credit.
- Earn unlimited 1.5% cash back on purchases, or join Preferred Rewards for Business for no fee, and earn up to an unlimited 2.62% cash back on all purchases if you have a Bank of America business checking account and qualify for Preferred Rewards for Business Platinum Honors tier.
- This card does not charge an annual fee.
- No annual cap and cash rewards don't expire as long as your account remains open.
- 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.
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If you've been looking for a credit card that offers rewards, and especially if you're a customer at Bank of America, you may be interested in the CardName.
There is a lot to like about the CardName.
- There's a $300 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.
- There are plentiful rewards - 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 - Annual fees aren't always a bad thing; they often pay for a lot of extra bells and whistles. That said, it's always nice to not have an annual fee on a credit card.
- 0% introductory APR offer - For the first nine billing cycles on new purchases. Then regular RegAPR APR applies
- Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
- $0 intro annual fee for the first year, then $95.
- Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 intro plan fees on plans created during the first 12 months from the date of account opening. Plans created after that will have a monthly plan fee up to 1.33% of each eligible purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
- Low Intro APR: 0% on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 19.24% - 29.99%. Variable APRs will not exceed 29.99%.
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations.
- 3% Cash Back on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
- Get up to $120 in statement credits annually when you pay for an auto-renewing subscription to Equinox+ at equinoxplus.com with your Blue Cash Preferred® Card. That's $10 in statement credits each month. Enrollment required.
- Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Preferred® Card. Enrollment required.
- Terms Apply.
Every credit card has its negatives, and the CardName is no exception.
Still, there aren't a lot of negatives to this card. A couple potential downsides include:
- No intro APR on balance transfers - If you were hoping to transfer credit card debt to this card and to get a break on interest for a while, this is not that card.
- Foreign transaction fee - Bank of America's website calls it an international fee. Whatever the case, this isn't a great card for international business travel. If you use this credit card to go to another country or buy anything from another nation, you'll pay foreign_fee.
CardName vs. CardName
The CardName is also worth considering. Basically, we'll make this simple, rather than turn this into a cage match between two Bank of America cards.
Do you spend a lot in certain categories, enough where you'd like more cash back than 1.5%? Maybe you have some delivery vans that eat up a lot of fuel, or you're always wining and dining clients at expensive restaurants? Then you probably want the CardName.
Some selling points with the CardName:
- It gives you 3% cash back in the category of your choice: gas stations/EV charging stations, office supply stores, travel, TV/telecom & wireless, computer services or business consulting services.
- You'll also get 2% cash back on dining purchases. (You get the 3% and 2% on the first $50,000 you spend each year, and then it reverts to 1% for the rest of the year.)
- And 1% on everything else.
- 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.
This is a great card for rewards, but if you don't have certain categories you spend heavily in, and you would just like a simple card where you get unlimited 1.5% cash back (with no thinking about the first $50,000 of spending each year), the CardName certainly has its charms.
CardName vs. CardName
CardName also gives its customers 1.5% unlimited cash back, and so if you are going to choose between the two, suddenly you have a real decision to make.
What are some of the standout features that Chase has, that may or may not give it the edge?
- A generous welcome bonus - The sign-up bonus is bigger than Bank of America's offering. You'll get $750 cash back once spending $6,000 on purchases in the first three months.
- The potential to make your rewards go further - Just as Bank of America's credit card goes further if you have a business checking account with them, if you have other Chase accounts, you may get more mileage out of the CardName. For instance, you can transfer your rewards to other Chase accounts that earn Chase Ultimate Reward points, and that may give you more bang for your buck.
- An introductory 0% APR period - Chase Ink Business Unlimited Card's introductory 0% APR period on new purchases is for 12 months. Then regular RegAPR APR applies.
- No annual fee - That is also the case with the CardName
CardName vs. CardName
CardName is actually more similar to Bank of America Business Advantage Customized Cash Rewards Mastercard Credit Card than CardName.
That's all a mouthful, isn't it? Let's put it this way. Chase Ink Business Cash Back is worth considering if you bank at Chase or have other Chase credit cards - and you like strategizing how to get the most money back from your purchases. Here are the selling points:
- A lot of ways to earn cash back - You'll get 5% cash back on up to $25,000 a year when you spend at office supply stores as well as for cable, internet and phone services. You'll get 2% cash back (up to $25,000 a year) when you spend money at gas stations and restaurants. You'll get 1% cash back on everything else.
- A generous welcome bonus - Spend $6,000 on purchases in the first three months, and you'll earn $750 cash back.
- 0% introductory APR offer - You'll get a 0% intro APR on new purchases for the first 12 months (then RegAPR APR).
Yes. That is, if you're looking for a business credit card that offers flat-rate, unlimited cash back, is simple to use, and has no annual fee, it's a very good card. And if you like the idea of spending freely for nine months without any interest charges, it's an even better card. Just remember to pay those balances off before the intro period expires as then regular RegAPR APR will apply.
Of course, there are a lot of good business credit cards out there, but this is certainly one of them.
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card Compared to Other Cash back Cards
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.
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