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 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.
Intro APR
0% on Purchases
Intro APR Period
9 billing cycles
Regular APR
14.49% - 24.49% Variable APR on purchases and balance transfers
Annual Fee
$0

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 Business Advantage Relationship Rewards client, 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 Business Advantage Relationship Rewards, 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 Lynch 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 Business Advantage Relationship Rewards program.

Business Advantage Relationship Rewards Tier Eligibility Requirement 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 Business Advantage Relationship Rewards. 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 Business Advantage Relationship Rewards, 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 CardsPurchase APRTransfer InfoAnnual Fee Credit Level
Capital One® Spark® Cash Select for Business

0% intro APR
for 9 months

15.24% - 23.24% (Variable) APR

15.24% - 23.24% (Variable) APR

No balance transfer fee

$0

Excellent, Good CreditLearn MoreView Card Details
  • Earning unlimited 1.5% cash back could mean thousands of dollars each year going back into your business
  • Plus, a one-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening
  • Save on interest with 0% intro APR on purchases for 9 months; 15.24% - 23.24% variable APR after that
  • No annual fee
  • Use Spark Cash Select across all your business spend, with no categories to limit your purchasing
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • Get employee cards at no additional cost, and earn rewards from their business spend
Bank of America® Business Advantage Travel Rewards World Mastercard®

0% intro APR
for 9 billing cycles

13.49% - 23.49% Variable APR after that

13.49% - 23.49% Variable APR

$0

Excellent CreditLearn MoreView Card Details
  • Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend. Points don't expire
  • Earn 25,000 bonus points when you make at least $1,000 in net purchases within 60 days of your account opening which can be redeemed for a $250 statement credit towards travel purchases.
  • Earn 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center - powered by Expedia®.
  • No annual fee and no international transaction fees.
  • 0% Introductory APR on purchases for your first 9 billing cycles.
  • Redeem points for travel with no blackout dates, cash back or gift cards.
  • Get a 75% rewards bonus on the base earn of every purchase you make when you're a Business Advantage Relationship Rewards Platinum Honors tier client. That means you will earn 2.62 points for every $1 you spend and 4.12 points per every $1 you spend at the Bank of America® Travel Center.
Capital One® Spark® Cash for Business

19.24% (Variable) APR

19.24% (Variable) APR

No balance transfer fee

$0 intro for first year; $95 after that

Excellent, Good CreditLearn MoreView Card Details
  • Earn unlimited 2% cash back for your business on every purchase, everywhere
  • Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
  • $0 annual fee for the first year; $95 after that
  • $0 Fraud Liability if your card is lost or stolen
  • Free employee cards, which also earn unlimited 2% cash back on all purchases
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
Bank of America® Cash Rewards credit card

0% intro APR
for 12 billing cycles

16.24% - 26.24% Variable APR after that

0% intro APR
for 12 billing cycles for any balance transfers made in the first 60 days

16.24% - 26.24% Variable APR after that

$0

Excellent / Good CreditLearn MoreView Card Details
  • No annual fee
  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
  • NEW OFFER: Maximize your cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings
  • Now earn 3% cash back in your choice category and 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
  • You can update your choice category for future purchases once each calendar month using the Mobile Banking app or Online Banking, or do nothing and it stays the same
  • No expiration on rewards
  • 0% Introductory APR for 12 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.24% - 26.24% Variable APR will apply. A 3% fee (min $10) applies to balance transfers
  • If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase
Wells Fargo Cash Wise Visa® Card

0% intro APR
for 12 months

16.24% - 28.24% (Variable) APR after that

0% intro APR
for 12 months on qualifying balance transfers

16.24% - 28.24% (Variable) APR after that

$0

Good / Excellent CreditLearn MoreView Card Details
  • Earn a $200 cash rewards bonus after spending $1,000 in the first 3 months
  • Earn unlimited 1.5% cash rewards on purchases
  • Enjoy 1.8% cash rewards on qualified mobile wallet purchases, like Apple Pay® or Google Pay™, during the first 12 months from account opening
  • No category restrictions or sign ups and cash rewards don't expire as long as your account remains open
  • Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Cash Wise Visa® Card
  • 0% Intro APR for 12 months on purchases and balance transfers (fees apply), then a 16.24%-28.24% variable APR; balance transfers made within 120 days qualify for the intro rate and fee
  • $0 Annual Fee
  • Select "Apply Now" to learn more about the product features, terms, and conditions
  • Earning unlimited 1.5% cash back could mean thousands of dollars each year going back into your business
  • Plus, a one-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening
  • Save on interest with 0% intro APR on purchases for 9 months; 15.24% - 23.24% variable APR after that
  • No annual fee
  • Use Spark Cash Select across all your business spend, with no categories to limit your purchasing
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • Get employee cards at no additional cost, and earn rewards from their business spend
  • Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend. Points don't expire
  • Earn 25,000 bonus points when you make at least $1,000 in net purchases within 60 days of your account opening which can be redeemed for a $250 statement credit towards travel purchases.
  • Earn 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center - powered by Expedia®.
  • No annual fee and no international transaction fees.
  • 0% Introductory APR on purchases for your first 9 billing cycles.
  • Redeem points for travel with no blackout dates, cash back or gift cards.
  • Get a 75% rewards bonus on the base earn of every purchase you make when you're a Business Advantage Relationship Rewards Platinum Honors tier client. That means you will earn 2.62 points for every $1 you spend and 4.12 points per every $1 you spend at the Bank of America® Travel Center.
  • Earn unlimited 2% cash back for your business on every purchase, everywhere
  • Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
  • $0 annual fee for the first year; $95 after that
  • $0 Fraud Liability if your card is lost or stolen
  • Free employee cards, which also earn unlimited 2% cash back on all purchases
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • No annual fee
  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
  • NEW OFFER: Maximize your cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings
  • Now earn 3% cash back in your choice category and 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
  • You can update your choice category for future purchases once each calendar month using the Mobile Banking app or Online Banking, or do nothing and it stays the same
  • No expiration on rewards
  • 0% Introductory APR for 12 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.24% - 26.24% Variable APR will apply. A 3% fee (min $10) applies to balance transfers
  • If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase
  • Earn a $200 cash rewards bonus after spending $1,000 in the first 3 months
  • Earn unlimited 1.5% cash rewards on purchases
  • Enjoy 1.8% cash rewards on qualified mobile wallet purchases, like Apple Pay® or Google Pay™, during the first 12 months from account opening
  • No category restrictions or sign ups and cash rewards don't expire as long as your account remains open
  • Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Cash Wise Visa® Card
  • 0% Intro APR for 12 months on purchases and balance transfers (fees apply), then a 16.24%-28.24% variable APR; balance transfers made within 120 days qualify for the intro rate and fee
  • $0 Annual Fee
  • Select "Apply Now" to learn more about the product features, terms, and conditions
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