Bank of America® Business Advantage Cash Rewards Mastercard® credit card Review
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CitiBusiness® / AAdvantage® Platinum Select® Mastercard®
- Designed for businesses
- Earn 65,000 American Airlines AAdvantage® bonus miles after spending $4,000 in purchases within the first 4 months of account opening.
- First checked bag is free on domestic American Airlines itineraries to reduce travel costs and boost your bottom line
- 25% savings on American Airlines inflight Wi-Fi when you use your card
- Enjoy preferred boarding on American Airlines flights
- Earn 2 AAdvantage® miles per $1 spent on eligible American Airlines purchases
- Earn 2 AAdvantage® miles per $1 spent on purchases at telecommunications merchants, cable and satellite providers, car rental merchants and at gas stations
- Earn 1 AAdvantage® mile per $1 spent on other purchases
- No Foreign Transaction Fees
Brex for Startups
- 75,000 in Brex Rewards points upon signup and waived card fees for life (equal to $750+ value)*
- No personal guarantee needed - we do not ask for a personal credit check or security deposit during the application.
- Credit limits 10-20x higher than traditional small business corporate cards.
- $100,000 bank balance required to qualify for Brex.
- Exclusive signup offers from the best products and tools for your business (e.g. AWS, Google Ads, WeWork, Salesforce) worth over $50,000 in value.
- Earn points on every dollar spent with industry-leading multipliers: either 7x on rideshare, 4x on travel, 3x on restaurants, 2x on software subscriptions and 1x on all other transactions OR 7x Remote collaboration tools bundle, 3x Food delivery bundle, 2x Recurring software, 1x Everything else. New WFH Rewards: Up to $100,000 in Amazon Web Services credits (depending on company funding), 50% off the annual Dropbox Business Standard subscription, and 20% off Zoom.
- Miles transfer program to 7 airlines (including JetBlue, Singapore Airlines, Qantas, AirFrance, and more) and their loyalty programs, giving Brex customers access to book travelacross all of the major global airline alliances - Star Alliance, Oneword, and SkyTeam.
- 30-day charge card running on the Mastercard network. Enjoy global acceptance with no foreign transaction fees.
- Make employee expenses seamless - automated receipt-capture and expense matching and reconciliation via text and email. Instantly add new users and set spending limits.
- Simplify reconciliation with built-in integrations with Quickbooks, Xero and more.
Best Credit Cards
What Bank of America says about this card
- Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening - with no annual fee and cash rewards don't expire.
- Earn 3% cash back in the category of your choice, 2% cash back on dining and unlimited 1% cash back on all other purchases.
- You'll get 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
- 0% Introductory APR on purchases for your first 9 billing cycles.
- Redeem your cash rewards as a statement credit, check, or have cash deposited into a Bank of America® checking or savings account.
- Get 75% more cash back on every purchase when you're a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 5.25% on your selected choice category, 3.5% on dining and unlimited 1.75% cash back on all other purchases.
By Brooklyn Lowery CardRatings Senior Manager Updated Mar 31, 2020
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 90 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 with a healthy dose of cardholder flexibility thrown in.
The Bank of America® Business Advantage Cash Rewards Mastercard® credit card offers cardholders the opportunity to choose a category in which you earn 3% cash back. Earn 3% cash back in the category of your choice, 2% cash back on dining and unlimited 1% cash back on all other purchases. You'll get 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter. Furthermore, if you're a Preferred Rewards for Business Platinum Honors tier member, you will receive a bonus of up to 75% on the base rewards you earn for each purchase. Your bonus is based on your enrolled tier – 25% for Gold, 50% for Platinum and 75% for Platinum Honors.
New cardholders can currently take advantage of a special promotion earning a $300 statement credit after you make $3,000 in purchases within the first 90 days of card ownership.
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 statement credit, a check or apply them to a Bank of America® savings or checking account.
CardRatings Editor's Analysis: Pros & Cons
- Cardholders are rewarded in categories where business owners frequently do a lot of spending and you have the ability to choose where your highest earning rate will be from among a list of six common business spending categories.
- Cash rewards can be redeemed as statement credit, check or directly into a Bank of America checking or savings account.
- There's no annual fee, but you will pay 3 percent per transaction if you use your card while abroad.
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 as statement credit, a check or apply them to a Bank of America® 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.
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.
While choosing a category for your 3 percent cash back is nice, it does require you to pay attention if you're going to reap top rewards. If you are someone who would prefer a more simple approach, there are other small business cards out there for you to consider.
Top Features
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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 (This card is not currently available on CardRatings) 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.
The Capital One card also has a nice welcome offer for new cardholders: Earn a one-time $500 cash bonus once you spend $4,500 on purchases within three months from account opening.
While there's no annual fee the first year, be prepared to pay $95 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
(This card is not currently available on CardRatings)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% for purchases in your choice category, Ink Business Cash℠ Credit Card cardholders can earn 5% 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. Also 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 $50,000 in your choice category and on dining 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.
The information related to the Ink Business Cash℠ Credit Card has been collected by CardRatings and has not been reviewed or provided by the issuer of the card.
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 top reward earnings annually in your choice category and on dining, 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® credit card
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.
Bank of America® Business Advantage Cash Rewards Mastercard® credit card compared to other business cards