Bank of America® Business Advantage Cash Rewards Mastercard® Review – $300 Bonus and 3% Back

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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.

  • Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
  • 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.
  • You can earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for Preferred Rewards for Business Platinum Honors tier. That means you could earn up to 5.25% cash back in your selected choice category and up to 3.5% cash back on dining purchases on the first $50,000 in those combined purchases each calendar year, and up to an unlimited 1.75% cash back on all other purchases.
  • No annual fee.
  • Choose how to redeem your cash rewards-as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you. Cash rewards don't expire as long as your account remains open.
  • To change your choice category for future purchases, you must go to the Mobile Banking app or Business Advantage 360, our small business online banking. You can change it once each calendar month, or make no change and it stays the same.
  • 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 18.49% to 28.49% will apply.
  • Contactless Cards - The security of a chip card, with the convenience of a tap.
  • This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Intro APR
0% on Purchases
Intro APR Period
9 billing cycles
Annual Fee
$0
Credit Needed
excellent

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 TierRewards BonusCash Rewards for the Tier
Gold – $20,000 in combined balance of qualifying accounts25%
  • 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 accounts50%
  • 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 accounts75%
  • 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.

Small Business Credit Cards

Credit CardBonus, Rewards, 0% InterestAnnual Fee
American Express Blue Business Cash Card

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
    (fees)
    Ink Business Cash Credit Card

    Ink Business Cash® Credit Card

  • 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
  • 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 purchases
  • 10% Business Relationship Bonus If you have the Ink Business Cash card plus a Chase Business Checking account on your first card anniversary
  • 0% on purchases for 12 months. After the intro period ends, the go-to rate of 18.49% - 24.49% variable applies.
  • $0
    The Blue Business Plus Credit Card from American Express

    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
    (fees)
    Ink Business Unlimited Credit Card

    Ink Business Unlimited® Credit Card

  • $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
  • Unlimited 1.5% cash back on every purchase made for your business
  • 0% on purchases for 12 months. After the intro period ends, the go-to rate of 18.49% - 24.49% variable applies.
  • $0
    Costco Anywhere Visa Business Card by Citi

    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% thereafter
  • 3% cash back on restaurants and eligible travel purchases
  • 2% cash back on all other purchases from Costco and Costco.com
  • 1% cash back on all other purchases
  • $0
    rates & fees
    Ink Business Preferred Credit Card

    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 Travel
  • 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
  • $95
    American Express Business Gold Card

    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.
  • $375
    (fees)
    The Business Platinum Card from American Express

    The Business Platinum Card® from American Express

  • Earn 150,000 Membership Rewards points after you spend $20,000 in eligible purchases on the 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)

    Cash Back Credit Cards

    Credit CardBonus, Rewards, 0% InterestAnnual Fee
    Bank of America Customized Cash Rewards Credit Card

    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, 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.
  • Choose 3% cash back on gas and EV charging station, online shopping/cable/internet/phone plan/streaming, dining, travel, drug store/pharmacy or home improvement/furnishings purchases.
  • 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 19.24% - 29.24% variable applies.
  • $0
    Wells Fargo Active Cash Card

    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

    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. Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel portal through 6/30/2025.
  • 0% on purchases and balance transfers for 15 months
    (rates & fees)
  • $0
    Citi Double Cash Card

    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
    (rates & fees)
  • $0
    Chase Freedom Unlimited

    Chase Freedom Unlimited®

  • Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
  • Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
  • Enjoy 6.5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
  • After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
  • 0% on purchases and balance transfers for 15 months. After the intro period ends, the go-to rate of 20.49% - 29.24% variable applies.
  • $0
    Blue Cash Everyday Card from American Express

    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 on up to $6,000 per year in purchases, then 1%.
  • 3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1%.
  • 3% Cash Back at U.S. gas stations, on up to $6,000 per year, then 1%.
  • 0% on purchases and balance transfers for 15 months
    (rates & fees)
  • $0
    (fees)
    Costco Anywhere Visa Card by Citi

    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% thereafter
  • 3% cash back on restaurants and eligible travel purchases
  • 2% cash back on all other purchases from Costco and Costco.com
  • 1% cash back on all other purchases
  • $0
    rates & fees
    Blue Cash Preferred Card from American Express

    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 Bonus

    Credit CardCredit Card BonusAnnual Fee
    Citi Strata Premier Card

    Citi Strata Premier Card

    70,000 bonus ThankYou Points after spending $4,000 in the first 3 months of account opening, redeemable for $700 in gift cards or travel rewards at thankyou.com$95
    rates & fees
    Bank of America Premium Rewards Credit Card

    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
    Chase Sapphire Preferred Card

    Chase Sapphire Preferred® Card

    75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel.$95
    Bank of America Travel Rewards Credit Card

    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

    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
    rates & fees

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