Overview
If you spend tens of thousands of dollars on gas, office supplies, dining, or gift cards every month, consider using the Bank of America® Business Advantage Cash Rewards Mastercard® for your purchases. It offers 3% cash back on purchases 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. You can also earn $300 cash bonus.
Card Benefits
Sign-up bonus
New card members will receive a sign-up bonus of $300 cash in statement credit after spending $3,000 on purchases within the first 90 days. The $300 bonus cash is equivalent to 10% cash back on your first $3,000 purchases.
Cash Back Rewards
You will 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.
If you are a client of Preferred Rewards for Business, you can get a 25% to 75% rewards bonus on the baseline rewards, which means you may earn up to 5.25% cash rewards on gas and office supplies, up to 3.5% cash rewards on eating out, and up to 1.75% cash rewards on other purchases. To qualify for the Preferred Rewards for Business, you need to have a Bank of America business checking account, and maintain a combined balance in qualifying business deposit accounts and/or qualifying Merrill business investment accounts of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, or $100,000 for the Platinum Honors tier. The following table shows the detailed information on the Gold, Platinum, and Platinum Honors tiers of Bank of America’s Preferred Rewards for Business program.
| Preferred Rewards for Business Tier | Rewards Bonus | Cash Rewards for the Tier |
|---|
| Gold – $20,000 in combined balance of qualifying accounts | 25% | - 3.75% cash back on your selected choice category (up to $50,000 in combined choice category/dining purchases each calendar year, 1.25% after that)
- 2.5% cash back on purchases at restaurants (up to $50,000 in combined choice category/dining purchases each calendar year, 1.25% after that)
- 1.25% cash back on other purchases
|
| Platinum – $50,000 in combined balance of qualifying accounts | 50% | - 4.5% cash back on your selected choice category (up to $50,000 in combined choice category/dining purchases each calendar year, 1.5% after that)
- 3% cash back on purchases at restaurants (up to $50,000 in combined choice category/dining purchases each calendar year, 1.5% after that)
- 1.5% cash back on other purchases
|
| Platinum Honors – $100,000 in combined balance of qualifying accounts | 75% | - 5.25% cash back on your selected choice category (up to $50,000 in combined choice category/dining purchases each calendar year, 1.75% after that)
- 3.5% cash back on purchases at restaurants (up to $50,000 in combined choice category/dining purchases each calendar year, 1.75% after that)
- 1.75% cash back on other purchases
|
You can actually use this credit card to buy shopping gift cards at an office supply shop such as Staples, Office Depot, and earn 3% cash back, or up to 5.25% cash back if you qualify for Preferred Rewards for Business. For example, you can go to giftcardmall.officedepot.com or staples.com to buy many popular gift cards, such as the ones from eBay, Target, Home Depot, Lowe’s, Bed Bath & Beyond, Cabela’s, Disney, Groupon, Nordstrom, etc, and then use the gift cards at the retailer of your choice. In this way, you will earn more cash back because of the higher cash back for the gift cards purchased at office supply stores.
The cash rewards on purchases in combined choice category/dining is capped at your purchases of $50,000 each calendar year, which averages over $4,000 in purchases each month. If you are a big spender, you will be able to earn a lot more cash rewards with this credit card than with most other credit cards.
Fees and Interest
This credit card has no annual fee. It also offers 0% introductory APR on purchases, which allows you to make purchases now and pay off the balance later without incurring interest cost, as long as you make the minimum payment each month.
Required Credit Rating
The Bank of America® Business Advantage Cash Rewards Mastercard® is a prime credit card for people with excellent credit rating. If you have a credit score of 740 or more, you may qualify for the credit card.
Apply for Business Card as an Individual
The Bank of America® Business Advantage Cash Rewards Mastercard® is a small business credit card. Even if you don’t own a corporation or LLC, you can still apply for business credit cards as a sole proprietor – just use your own name as the business name and use your Social Security Number (SSN) as the Tax ID in the application. See detailed explanation on how to apply for business cards as an individual.
Is this the right card for you?
If you spend a lot on purchases each year, you will find Bank of America® Business Advantage Cash Rewards Mastercard® a great credit card to earn cash rewards. This card helps small business owners to earn more cash back for their purchases. If you qualify for the Bank of America Preferred Rewards for Business, you can enjoy up to 5.25% cash back rewards on purchases in one of your preferred business spending categories, 3.5% cash back on dining, 1.75% cash back on all other purchases.
Similar Credit Cards
If you are interested in the Bank of America® Business Advantage Cash Rewards Mastercard®, you may also consider a few other small business or cash back credit cards with similar benefits.
| Credit Card | Bonus, Rewards, 0% Interest | Annual Fee |
|---|
 | The American Express Blue Business Cash™ Card | $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.0% on purchases for 12 months from date of account opening
(rates & fees) | $0
(fees) |
 | Ink Business Cash® Credit Card | $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening5% 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 year2% 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 purchases0% on purchases for 12 months | $0 |
 | The Blue Business® Plus Credit Card from American Express | 15,000 Membership Rewards points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership.2X Membership Rewards points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.0% on purchases for 12 months from date of account opening
(rates & fees) | $0
(fees) |
 | Ink Business Unlimited® Credit Card | $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account openingUnlimited 1.5% cash back on every purchase made for your business0% on purchases for 12 months | $0 |
 | Costco Anywhere Visa® Business Card by Citi | 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter3% cash back on restaurants and eligible travel purchases2% cash back on all other purchases from Costco and Costco.com1% cash back on all other purchases | $0 |
 | Ink Business Preferred® Credit Card | 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards3 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 | $95 |
 | American Express® Business Gold Card | Earn 70,000 Membership Rewards points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.*4X Membership Rewards points on the 2 categories where your business spends the most each billing cycle from 6 eligible categories. While your top 2 categories may change, you will earn 4X points on the first $150,000 in combined purchases from these categories each calendar year (then 1X thereafter). Only the top 2 categories each billing cycle will count towards the $150,000 cap. | $295 ($375 if application is received on or after 2/1/24)
(fees) |
 | The Business Platinum Card® from American Express | Earn 120,000 Membership Rewards points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.5X Membership Rewards points on flights and prepaid hotels on AmexTravel.com, and 1X points for each dollar you spend on eligible purchases.1.5X points (that's an extra half point per dollar) on each eligible purchase at US construction material, hardware suppliers, electronic goods retailers, and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year. | $695
(fees) |
| Credit Card | Bonus, Rewards, 0% Interest | Annual Fee |
|---|
 | Bank of America® Customized Cash Rewards credit card | $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.3% cash back in the category of your choice - now with expanded categories, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.3% cash back on Gas (to now include Electric Vehicle Charging (EVC) Stations) and Online Shopping (to now include Cable, Streaming, Internet and Phone Services).If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.0% on purchases and qualifying balance transfers for 15 billing cycles. After the intro period ends, the go-to rate of 18.24% - 28.24% variable applies. | $0 |
 | Wells Fargo Active Cash® Card | $200 cash rewards bonus after spending $500 in purchases in the first 3 months.Unlimited 2% cash rewards on purchases.0% on purchases and qualifying balance transfers for 15 months from account opening
(rates & fees) | $0 |
 | Citi Custom Cash® Card | $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou Points, which can be redeemed for $200 cash back.5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases.0% on purchases and balance transfers for 15 months | $0 |
 | Citi Double Cash® Card | $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou Points, which can be redeemed for $200 cash back.2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel portal through 12/31/24.0% on balance transfers for 18 months | $0 |
 | Chase Freedom Unlimited® | Unlimited 1.5% cash back is just the beginning of what you can earn. You'll enjoy 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery services, 5% cash back on travel purchased through Chase Ultimate Rewards, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; and 1.5% cash back on all other purchases.0% on purchases and balance transfers for 15 months | $0 |
 | Blue Cash Everyday® Card from American Express | $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.3% cash back at U.S. supermarkets, U.S. gas stations, and on U.S. online retail purchases of up to $6,000 per calendar year in purchases in each category, then 1%.0% on purchases and balance transfers for 15 months
(rates & fees) | $0
(fees) |
 | Costco Anywhere Visa® Card by Citi | 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter3% cash back on restaurants and eligible travel purchases2% cash back on all other purchases from Costco and Costco.com1% cash back on all other purchases | $0 |
 | Blue Cash Preferred® Card from American Express | $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.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.0% on purchases for 12 months
(rates & fees) | $0 intro annual fee for the first year, then $95.
(fees) |
| Credit Card | Credit Card Bonus | Annual Fee |
|---|
 | Citi Premier® Card | 60,000 bonus ThankYou Points after you spend $4,000 in purchases within the first 3 months of account opening. Plus, for a limited time, earn a total of 10 ThankYou Points per $1 spent on hotel, car rentals, and attractions (excluding air travel) booked on the Citi Travel portal through June 30, 2024. | $95 |
 | Bank of America® Premium Rewards® credit card | Receive 60,000 online bonus points - a $600 value - after you make at least $4,000 in purchases in the first 90 days of account opening. | $95 |
 | U.S. Bank Altitude® Connect Visa Signature® Card | Earn 50,000 bonus points when you spend $2,000 in eligible purchases within the first 120 days of account opening. That's a $500 value redeemable towards travel, gift cards, cash back, merchandise and more. | $0 intro for the first year, then $95 |
 | Chase Sapphire Preferred® Card | 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards. | $95 |
 | Bank of America® Travel Rewards credit card | 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases. | $0 |
 | Citi Rewards+® Card | 20,000 bonus points after you spend $1,500 in purchases with your card within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com | $0 |
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