Bank of America Platinum Plus® Mastercard® is an excellent business credit card that comes with a low annual percentage rate (APR) and no annual fee. It also offers a 0% introductory APR for the first seven months and a $300 sign-up bonus when you meet the spending requirements. However, this card does not offer rewards.
If you wish to compare one card over another, choose a maximum of three cards on this page and click Add to Compare to view the details in a side-by-side comparison.
Bank of America® Platinum Plus® Mastercard® Business card
BEST FOR:
Low-interest credit card for business purchases
7 billing cycles
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Save on interest with a competitive purchase APR.
- No annual fee.
- 0% Introductory APR on purchases for the first 7 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.49% to 27.49% will apply.
- Get employee cards at no additional cost to you and with credit limits you set.
- 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
- Low ongoing APR
- 0% introductory APR
- $0 annual fee
- Sign-up bonus of $300
Cons
- No ongoing rewards
- 0% APR excludes balance transfers
- No-interest period is shorter than other cards
- Zero liability protection: Bank of America offers liability protection for unauthorized transactions, added protection for certain purchases against loss, damage, theft, or fire, and extended warranty coverage.
- Balance Connect for overdraft protection: This is an optional overdraft protection service that helps prevent declined purchases, returned checks, or other overdrafts. You need to link your Bank of America Business Advantage Travel Rewards World Mastercard® to a Bank of America business checking account.
- Free access to business credit score: You can view and monitor your Dun & Bradstreet business credit score for free within Business Advantage 360.
7 billing cycles
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Save on interest with a competitive purchase APR.
- No annual fee.
- 0% Introductory APR on purchases for the first 7 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.49% to 27.49% will apply.
- Get employee cards at no additional cost to you and with credit limits you set.
- 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
- Low ongoing APR
- 0% introductory APR
- $0 annual fee
- Sign-up bonus of $300
Cons
- No ongoing rewards
- 0% APR excludes balance transfers
- No-interest period is shorter than other cards
- Zero liability protection: Bank of America offers liability protection for unauthorized transactions, added protection for certain purchases against loss, damage, theft, or fire, and extended warranty coverage.
- Balance Connect for overdraft protection: This is an optional overdraft protection service that helps prevent declined purchases, returned checks, or other overdrafts. You need to link your Bank of America Business Advantage Travel Rewards World Mastercard® to a Bank of America business checking account.
- Free access to business credit score: You can view and monitor your Dun & Bradstreet business credit score for free within Business Advantage 360.
When grading low-interest business credit cards like the Bank of America Platinum Plus® Mastercard®, we first consider the introductory and ongoing APRs. We also take into consideration the card’s additional features, other fees, ongoing rewards, and introductory rewards.
Grading Criteria | Card Score | Highest Possible Score |
---|---|---|
Introductory APR | 20 | 30 |
Ongoing APR | 26 | 30 |
Additional Features | 8 | 10 |
Other Fees | 8 | 10 |
Ongoing Rewards | 0 | 10 |
Introductory Rewards | 8 | 10 |
Total Score | 70 | 100 |
Who the Bank of America Platinum Plus® Mastercard® Is Best For
- Those who need to carry a balance: It offers a low ongoing APR, making it an excellent option if you need to carry a balance.
- Those who don’t need to earn ongoing rewards: It lacks ongoing rewards on purchases.
If this isn’t the card for you, see our recommended alternatives below to find one that’s a good fit.
Bank of America Platinum Plus® Mastercard® Business Card Rewards
- $300 statement credit after spending at least $3,000 in net purchases within 90 days of opening an account
The Bank of America Platinum Plus® Mastercard® Business Card doesn’t offer ongoing rewards for business-related purchases.
Bank of America Platinum Plus® Mastercard® Features
Protection
- Zero liability protection: Bank of America offers liability protection for unauthorized transactions, added protection for certain purchases against loss, damage, theft, or fire, and extended warranty coverage.
- Fraud monitoring: Any potential fraud will be blocked in case the bank detects abnormal patterns in your transactions. The bank will also alert you of any suspected fraudulent activity.
Cash Management
- Balance ConnectTM for overdraft protection: Balance ConnectTM is an optional overdraft protection service that helps prevent declined purchases, returned checks, or other overdrafts. To use this service, you need to link this card to a Bank of America business checking account. Read our Bank of America business checking review for options.
- Cash flow management tools: You can manage your business with a suite of online cash management services including automatic payments, fund transfers, and downloading transactions into QuickBooks.
- Paperless statement option: Business owners can choose paperless credit card statements and increase account security while reducing paper consumption.
Other Services
- Travel and emergency services: These include $100,000 in travel accident insurance, auto rental insurance, emergency ticket replacement, lost luggage assistance, and legal and medical referrals when away from home.
- Free access to business credit score: You can view and monitor your Dun & Bradstreet business credit score for free within Bank of America’s small business online banking platform known as Business Advantage 360.
Bank of America Platinum Plus® Mastercard® Business Card Fees
APR
- Introductory: 0% Introductory APR on purchases for the first 7 billing cycles.
- Ongoing and balance transfers: 16.49% to 27.49% variable, which adjusts with the prime rate
- Cash advance: 29.49% variable, which adjusts with the prime rate
- Penalty: None
Fees
- Annual: None
- Balance transfer and cash advance: 4% of each transaction amount
- International transaction: 3% of the United States dollar amount of each transaction
- Late payment:
- $0 if the balance is less than or equal to $100
- $29 if the balance is from $100.01 to $1,000
- $39 if the balance is from $1,000.01 to $5,000
- $49 if the balance is more than $5,000
Your due date is at least 25 days after the close of each billing cycle.
- Mobile app: Log in to the app, select your business credit card, then click “Make a payment.”
- Phone: Call (800) 236-6497 and follow the prompts. There’s no fee to make a payment by phone.
- Financial center or ATM: Drop off your payment at any Bank of America financial center or an ATM near you.
- Online: Log in to Bank of America’s Online Banking site, select the “Bill Pay” tab, then follow the prompts.
- Mail: Pay using the following address:
Business Card Payments
Bank of America Business Card
PO Box 15710
Wilmington, DE 19850-5710
Bank of America Platinum Plus® Mastercard® Alternatives
U.S. Bank Business Platinum Card
BEST FOR:
Extended 0% APR period on purchases
U.S. Bank Business Platinum Card
Pros
Cons
Pros
Cons
When To Consider U.S. Bank Business Platinum Card
- You intend to finance a large purchase or transfer a balance: It offers a 0% introductory period on purchases for the first 18 billing cycles.
Other Benefits
- ExtendPay® plan: This allows you to pay your balances over time by dividing eligible purchases into affordable monthly payments with no interest. Note that this only comes with a fixed monthly fee.
- SinglePoint® Essentials: Lets you view your account balances and transaction details, transfer funds between existing U.S. Bank accounts, download statements, and make payments.
Despite not offering cardholders rewards, its long 0% introductory period makes it our best 0% APR business credit card and top business credit card with a balance transfer offer. For more options from the same issuer, check out our roundup of the leading U.S. Bank business credit cards.
American Express Blue Business® Plus
The Blue Business® Plus Credit Card from American Express
BEST FOR:
Pocketing 2x points per $1 and 0% introductory APR for 12 months
- Earn 15,000 Membership Rewards® points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.49% - 26.49%, based on your creditworthiness and other factors at account opening. APR will not exceed 29.99%
- Earn 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.
- You’ve got the power to use your Card beyond its credit limit* with Expanded Buying Power.
- *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors.
- No Annual Fee
- Terms Apply
Pros
- $0 annual fee
- 0% APR for 12 months on purchases and balance transfer
- Welcome offer
- Expanded buying power
- Fixed-rate rewards
Cons
- Cash advances aren’t allowed
- Charges foreign transaction fees
- 2x points rewards are capped at $50,000 in spending
- Expanded buying power: The card lets you spend beyond your credit limit through this feature. The amount you can spend above your credit limit adjusts with your card usage, payment history, credit record, financial resources, and other factors.
- Purchase protection: Items purchased using this card are covered in case they’re damaged or stolen within 90 days of the date of purchase. American Express will reimburse you for the amount charged to your eligible card, up to $1,000 per claim and $50,000 per cardmember, per year.
- Extended warranty protection: American Express provides cardholders with an extended warranty for one additional year, which applies to items with original manufacturer warranties of five years or less.
- Earn 15,000 Membership Rewards® points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.49% - 26.49%, based on your creditworthiness and other factors at account opening. APR will not exceed 29.99%
- Earn 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.
- You’ve got the power to use your Card beyond its credit limit* with Expanded Buying Power.
- *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors.
- No Annual Fee
- Terms Apply
Pros
- $0 annual fee
- 0% APR for 12 months on purchases and balance transfer
- Welcome offer
- Expanded buying power
- Fixed-rate rewards
Cons
- Cash advances aren’t allowed
- Charges foreign transaction fees
- 2x points rewards are capped at $50,000 in spending
- Expanded buying power: The card lets you spend beyond your credit limit through this feature. The amount you can spend above your credit limit adjusts with your card usage, payment history, credit record, financial resources, and other factors.
- Purchase protection: Items purchased using this card are covered in case they’re damaged or stolen within 90 days of the date of purchase. American Express will reimburse you for the amount charged to your eligible card, up to $1,000 per claim and $50,000 per cardmember, per year.
- Extended warranty protection: American Express provides cardholders with an extended warranty for one additional year, which applies to items with original manufacturer warranties of five years or less.
When To Consider American Express Blue Business® Plus
- You plan to spend beyond your credit limit: It features Expanded Buying Power, which lets you spend beyond your credit limit after meeting certain conditions.
- You want to earn points: It lets you earn 2x points on the first $50,000 each year, then 1x points when the cap is met.
Other Benefits
- Purchase protection: Items purchased using this card are covered in case they’re damaged or stolen within 90 days of the date of purchase. American Express will reimburse you for the amount charged to your eligible card, up to $1,000 per claim and $50,000 per card member per year.
- Global Assist® hotline: The hotline is available 24/7 for medical, legal, financial, and other select emergency assistance and coordination services. This is perfect for business owners who travel more than 100 miles from home.
The ability to spend beyond your credit limit and letting you earn points rewards are why it is our top business credit card for real estate agents and one of our leading sole proprietorship business credit cards. Check our list of the best American Express business credit cards for more options from the same provider.
Chase Ink Business Preferred®
Ink Business Preferred® Credit Card
BEST FOR:
Maximizing travel rewards at a lower annual fee
- Earn 100k 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 Ultimate Rewards®
- Earn 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
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
- Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Member FDIC
Pros
- Reward points are worth 25% more when you redeem for travel through the Chase Ultimate Rewards® card
- Comprehensive travel and purchase protection
- $0 foreign transaction fees
Cons
- No interest-free financing option on both purchases and balance transfers
- With annual fee
- Need to make extremely large purchases to qualify for the welcome offer
- Cellphone protection: Get up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees listed on your monthly cellphone bill
- Purchase protection: Can cover your new purchases for 120 days against damage or theft of up to $10,000 per claim and $50,000 per account
- Extended warranty protection: You can extend the period of the United States manufacturer’s warranty by an additional year, on eligible warranties of three years or less.
- Fraud monitoring: Chase will help keep your accounts safe with account alerts―and you can choose how you’d like to receive them
- Free employee cards: You can create employee cards at no additional cost, and lets you set individual spending limits―helping you earn rewards even faster
- Earn 100k 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 Ultimate Rewards®
- Earn 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
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
- Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Member FDIC
Pros
- Reward points are worth 25% more when you redeem for travel through the Chase Ultimate Rewards® card
- Comprehensive travel and purchase protection
- $0 foreign transaction fees
Cons
- No interest-free financing option on both purchases and balance transfers
- With annual fee
- Need to make extremely large purchases to qualify for the welcome offer
- Cellphone protection: Get up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees listed on your monthly cellphone bill
- Purchase protection: Can cover your new purchases for 120 days against damage or theft of up to $10,000 per claim and $50,000 per account
- Extended warranty protection: You can extend the period of the United States manufacturer’s warranty by an additional year, on eligible warranties of three years or less.
- Fraud monitoring: Chase will help keep your accounts safe with account alerts―and you can choose how you’d like to receive them
- Free employee cards: You can create employee cards at no additional cost, and lets you set individual spending limits―helping you earn rewards even faster
When To Consider Chase Ink Business Preferred®
- You travel frequently: This business credit card lets you earn 3x points per dollar spent on the first $150,000 on select categories, including travel.
Other Benefits
- Welcome offer: Earn 100,000 bonus points after spending at least $8,000 on purchases within the first three months of account opening.
- 1:1 transfer: Chase lets you transfer your earned points rewards through the Chase Ultimate Rewards program at full 1:1 value—meaning one Chase Ultimate Rewards point equals one partner mile/point.
- Chase Ink®: Chase gives you 24/7 access to view account details and quarterly reports of up to 24 months of statement details and more.
- Separate business and personal expenses: You can track expenses and maintain records for tax reports and other business needs easily by integrating this card with bookkeeping software to simplify accounting.
Its lucrative rewards and the ability to transfer earned points rewards to mileage points are why we recommended it as the leading business credit card for travel and included it on our list of the best credit cards for new businesses with no credit history. See our top Chase business credit cards for more options from the same bank.
Bottom Line
Bank of America Platinum Plus® Mastercard® is an excellent choice if you need a card that offers a low ongoing APR and no annual fee. It’s important to note that it doesn’t have ongoing rewards, so if you want to earn rewards, see our roundup of the best small business credit cards to find a card that’s right for your business.