Our Take
3.9
The bottom line:
Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card
on Bank of America's website
More details from Bank of America
- 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 17.99% to 27.99% 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.
Pros & Cons
Pros
- No annual fee
- High rewards rate
- New cardholder bonus offer
- Rotating bonus categories
Cons
- Requires excellent credit
- Complicated rewards
- Foreign transaction fee
- Spending caps on bonus rewards
- Best rewards limited to certain customers
Compare to Other Cards
at Bank of America | at Chase | at American Express |
Annual fee $0 | Annual fee $95 | Annual fee $0 |
Regular APR 17.99%-27.99% Variable APR | Regular APR 20.74%-25.74% Variable APR | Regular APR 17.99%-25.99% Variable APR |
Intro APR 0% intro APR on Purchases for 9 billing cycles | Intro APR N/A | Intro APR 0% intro APR on purchases for 12 months from the date of account opening |
Recommended credit score 720-850excellent | Recommended credit score 690-850good - excellent | Recommended credit score 690-850good - excellent |
Full Review
Key features of Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card
- 3% cash back in the category of your choice from a list.
- 2% cash back on dining (for the first $50,000 in combined choice category/dining purchases each calendar year; 1% after that limit is reached).
- 1% cash back on all other purchases.
- Gas stations and EV charging stations.
- Office supply stores.
- Travel.
- TV, telecom and wireless.
- Computer services.
- Business consulting services.
Why you might want the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card
A 3% category you can choose
- Computer services covers software, network and cloud services, and data processing services.
- Travel covers a broad range of expenses, including airfare, hotel purchases and bus fares.
- Business consulting services includes spending on services for public relations, legal, accounting and tax preparation.
More cash back with Preferred Rewards for Business
Level | Cash back on the category of your choice | Cash back on dining | Cash back on all other spending |
---|---|---|---|
None (no accounts, or combined balances below $20,000) | 3% | 2% | 1% |
Gold — 25% boost (combined balances of $20,000 to $49,999) | 3.75% | 2.5% | 1.25% |
Platinum — 50% boost (combined balances of $50,000 to $99,999) | 4.5% | 3% | 1.5% |
Platinum Honors — 75% boost (combined balances of $100,000 or more) | 5.25% | 3.5% | 1.75% |
Why you might want a different card
The bonus rewards cap
Categories might not match business spending
Modest sign-up bonus
It charges a foreign transaction fee
Should you get the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card?
on Bank of America's website