Business Advantage Customized Cash Rewards credit card

The Business Advantage Customized Cash Rewards credit card is a business credit card designed for small business owners, but you’ll get the best rewards if you already have a Bank of America Business Checking account. Cardholders can choose a category to earn 3% cash back from among Gas Stations and Electric Vehicle (EV) Charging Stations (default), Office Supply Stores, Travel, TV/Telecom and Wireless, Computer Services, or Business Consulting Services. Plus, earn 2% on dining up to the first $50,000 in those combined purchases (3% and 2% categories) each calendar year. If you have a Bank of America Business Checking Account with at least $20,000 in it, you’ll earn 75% more cash back. That’s as much as 5.25% cash back in your preferred category. We dive into the details and your approval odds in this Business Advantage card review.

Bank of America Business Advantage Cash Rewards

Our Rating

4.5/5.0

Welcome Offer

$300

Annual Fee

$0

0% on Purchases

9 months

Reward Rate

1% – 3% cash back

0% on Balance Transfers

N/a

Welcome Offer

Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.

Features & Benefits

SecurityEMV Chip Enabled, Fraud Monitoring, Zero Liability
Contactless PaymentsTap to Pay, Apple Pay, Google Pay, Samsung Pay
BenefitsExtended Warranty Coverage, Free credit score access, 24/7 customer service
Travel PerksAuto Rental Collision Damage Waiver, Luggage Protection, Travel Accident Insurance

Rewards

1% cash back
On all other eligible purchases
Earn unlimited 1% cash back on all other purchases.
2% cash back
Dining
Earn 2% cash back on dining purchases
3% cash back
Select Categories
Earn 3% cash back in the category of your choice: gas stations and EV charging stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services.

Interest Rates & Fees

Annual Fee$0
Foreign Transaction Fee3% of the U.S. dollar amount of each transaction made in a foreign currency. This fee does not apply to Cash Advance, Cash Equivalent, or Wire Transfer transactions.
Regular APR18.49% to 28.49% variable APR (V) APR
Purchases0% Intro APR for 9 months on purchases, then 18.49% to 28.49% variable APR (V) APR after that.

What Credit Score Is Required to Get the Business Advantage Customized Cash Rewards credit card

The following credit score data are based on publicly available information we have collected from various forums. We have no way to confirm the accuracy of this data. In addition, keep in mind that credit card issuers use a number of factors in their underwriting process, and these factors can change at any time.

App StatusDateCredit ScoreBureauCredit Limit
Approved03/11/2020
758
TransUnion
$16,000

Pros & Cons

Pros
  • Welcome offer
  • No annual fee
  • Up to 5.25% cash back for Bank of America business checking account holders
Cons
  • Foreign transaction fee
  • Requires good credit

What Are the Best Alternatives?

Capital One Spark Cash Plus
Capital One Spark Cash Plus

Rating

4.8

Rewards Range

2% to 5%

Annual Fee

$150

Ink Business Cash® Credit Card
Ink Business Cash® Credit Card

Rating

4.8

Rewards Range

1%-5%

Annual Fee

$0

The Blue Business® Plus Credit Card from American Express
The Blue Business® Plus Credit Card from American Express

Rating

4.5

Rewards Range

1x - 2x

Annual Fee

No annual fee

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