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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, no cap on the amount of cash rewards you can earn and they don't expire.
- Earn 3% cash back on your choice of one of the following six categories: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter) and 1% cash back on all other purchases.
- 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 a 75% rewards bonus on every purchase when you're a Business Advantage Relationship Rewards Platinum Honors tier client. 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.
Ink Business Cash℠ Credit Card
- Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
- Earn 1% cash back on all other card purchases with no limit to the amount you can earn
- 0% introductory APR for 12 months on purchases
- Employee cards at no additional cost
- No Annual Fee
Ink Business Preferred℠ Credit Card
- Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
- Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
- Earn 1 point per $1 on all other purchases - with no limit to the amount you can earn
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
- Redeem points for travel, cash back, gift cards and more - your points don't expire as long as your account is open
- No foreign transaction fees
- Employee cards at no additional cost
- $95 Annual Fee
By Brooklyn Lowery Site Editor Updated Apr 9, 2019
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 percent cash back. You can choose from gas stations (the default category), office supply stores, travel, TV/telecom and wireless, computer services or business consulting services. Additionally, cardholders receive 2 percent back on dining (for the first $50,000 spent in combined choice category and dining purchases each calendar year) and 1 percent on all other purchases. Even after reaching the spending cap in the 3 and 2 percent categories, you still earn rewards – they just drop to a 1 percent earn rate after you reach that cap each year. Furthermore, if you're a Business Advantage Relationship Rewards client, you will receive a bonus of up to 75 percent on the base rewards you earn for each purchase. Your bonus is based on your enrolled tier – 25 percent for Gold, 50 percent for Platinum and 75 percent 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.
- Intro 0 percent APR on purchases for the first nine billing cycles (then, 14.49% - 24.49% Variable APR on purchases).
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.
- An intro 0 percent APR on purchases for nine billing cycles (then, 14.49% - 24.49% 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, 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
when you make at least $3,000 in net purchases within 90 days of your account opening - with no annual fee, no cap on the amount of cash rewards you can earn and they don't expire.
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.
Earn a one-time $500 cash bonus when you spend $4,500 in the first three months.
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
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 purchases in your choice category, Ink Business Cash℠ 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. 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.
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
when you make at least $3,000 in net purchases within 90 days of your account opening - with no annual fee, no cap on the amount of cash rewards you can earn and they don't expire.