Business Advantage Customized Cash Rewards Credit Card
- Annual fee
- None
- Recommended credit
- Excellent
- Card network
- Mastercard
- Intro purchase APR
- 0% for 9 months from account opening date
At a glance
The Business Advantage Cash Rewards Mastercard® is a great starter card for business owners who want customizable 3% cash back categories and a card without an annual fee. Ideal for small businesses or startups with modest expenditures.
Our review of the Business Advantage Customized Cash Rewards Credit Card
The Bank of America Business Advantage Customized Cash Rewards Credit Card is a versatile no annual fee business card that offers six reward categories to suit various industries. With 3% cash back on purchases in your chosen category, 2% on dining, and 1% on everything else, this card simplifies maximizing everyday business expenses.
Who Can Benefit from the Customized Cash Rewards Card?
Business owners with diverse priorities and expenses can benefit from the Bank of America Business Advantage Customized Cash Rewards Credit Card. This card streamlines financial management and provides valuable rewards, allowing you to earn cash back on every purchase to save and reinvest in your business. The customizable rewards program ensures you can select spending categories that align with your business needs, maximizing the benefits of your purchases.
How to Get the Card
To qualify for the Business Advantage Customized Cash Rewards Credit Card, you must have a registered business entity, such as a sole proprietorship, partnership, or corporation. A good to excellent credit score is typically required for approval, reflecting a solid credit history and responsible credit management. If your credit score needs improvement, it’s advisable to work on boosting it before applying for this card to increase your chances of approval.
Online Statement Credit Offer
New accounts can earn a $300 statement credit after spending $3,000 within the first 90 days with the Business Advantage Customized Cash Rewards Credit Card. Additionally, new accounts enjoy a 0% intro APR on purchases for the first nine billing cycles, followed by a competitive rate based on creditworthiness and the Prime Rate.
How to Earn Rewards
The Business Advantage Customized Cash Rewards Credit Card offers the flexibility to earn 3% cash back on your chosen category, such as gas stations, office supply stores, travel, and more. You can change these categories monthly to align with your business needs. Additionally, the card provides 2% cash back on dining purchases, making it a well-rounded option for business owners.
Earn More Rewards with Preferred Rewards
Businesses can earn up to 75% more cash back rewards through Bank of America Preferred Rewards for Business. By qualifying for the Preferred Rewards for Business Platinum Honors tier, you can earn up to 5.25% cash back in your selected category, up to 3.5% cash back on dining purchases, and up to 1.75% cash back on all other purchases.
How to Redeem Rewards
Redeeming cash back rewards with Bank of America is simple and convenient. You can apply them as statement credits on your card account, deposit them into a Bank of America checking or savings account, or receive them as a physical check. This flexibility allows you to access your rewards in a way that suits your needs.
Business Management Benefits
The Bank of America Business Advantage Customized Cash Rewards Credit Card offers several benefits to streamline business operations and enhance financial management. With a flexible credit limit, simplified money management features, spending limits for employees, and expense management tools, this card is a valuable asset for business owners.
What We Like About the Card
The Bank of America Business Advantage Customized Cash Rewards Credit Card offers generous cash back rewards, customizable spending categories, and additional rewards for Bank of America customers. These benefits can result in significant savings and rewards for business owners.
Things to Consider
One drawback of the card is the foreign transaction fee, which can impact expenses for businesses engaging in international transactions. It’s essential to weigh this fee against the card’s benefits and explore alternative options with more favorable foreign transaction fee policies if needed.
Should You Apply for the Business Advantage Customized Cash Rewards Credit Card?
The Bank of America Business Advantage Customized Cash Rewards Credit Card is a suitable choice for business owners looking for a tailored rewards program and expense management tools. While considering the annual fee and foreign transaction fee, exploring alternative credit card offers can help you make an informed decision. Be sure to browse other card options to compare benefits and rewards.
Card features
Benefits as listed on the original card page. They can change; confirm details with the issuer.
- $300 statement credit bonus after spending $3,000 with 90 days
- 3% cash back on the category of your choice
- 2% back at restaurants
- 1% cash back on all other purchases
- Cash earnings never expire
Who this card may suit
- You have business expenses that are less than $50,000 per year
- You will take advantage of the introductory bonus by spending $3,000 in the first 90 days
- You want a versatile card that can also give you points for everyday (non-business) dining expenses
- You don’t want to pay an annual fee
Rates, fees and terms
| Annual Fee | None |
|---|---|
| Intro Purchase APR | 0% for 9 months from account opening date |
| Regular Purchase APR | 18.49% to 28.49% variable based on creditworthiness and the Prime Rate |
| Balance Transfer APR | 18.49% to 28.49% variable based on creditworthiness and the Prime Rate |
| Balance Transfer Transaction Fee | $10 or 4% of the amount of each transaction, whichever is greater |
| Cash Advance APR | 29.49% variable based on the Prime Rate |
| Cash Advance Transaction Fee | $10 or 4% of the amount of each transaction, whichever is greater. |
| Foreign Transaction Fee | 3% of the U.S. dollar amount of each transaction |
| Late Payment Penalty Fee | Up to $49 |
| Return Payment Penalty Fee | $39 |
Confirm before you apply: rates, fees and offers change often. The figures above are the ones listed on the original card page, not a current quote from the issuer. APRs are typically variable, and the rate you receive depends on your creditworthiness. Recommended credit: Excellent Credit.
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Business Advantage Customized Cash Rewards Credit Card
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