Editor’s note: This is a recurring post with regularly updated card details.
Bank of America® Business Advantage Unlimited Cash Rewards is a no-annual-fee business credit card that offers a straightforward rewards program—you can earn 1.5% cash back on all purchases. It is also ideal for those who maintain a business checking account with Bank of America, as you can earn up to 75% more cash back on your purchases if you qualify for the Preferred Rewards for Business Platinum Honors tier.
If you wish to compare one card over another, select a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
| Intro APR | 0% 9 billing cycles |
|---|---|
| Regular APR | 18.49% - 28.49% Variable APR on purchases |
| Annual Fee | $0.00 |
| Credit Needed | Excellent |
- 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 unlimited 1.5% cash back on purchases, or join Preferred Rewards for Business for no fee, and earn up to an unlimited 2.62% cash back on all purchases if you have a Bank of America® business checking account and qualify for Preferred Rewards for Business Platinum Honors tier.
- No annual cap and cash rewards don’t expire as long as your account remains open.
- 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.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 18.49% to 28.49% 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.
- Access to a business credit score: Bank of America lets you view and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Balance Connect®: This helps prevent declined purchases, returned checks, or other overdrafts when you link your Bank of America® Business Advantage Unlimited Cash Rewards to a Bank of America business checking account for overdraft protection.
- Fraud monitoring: Bank of America will block potential fraud if it detects abnormal patterns in your transactions. It’ll also notify you if it suspects any fraudulent activity.
- Zero liability protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
How We Evaluate Cash Back Business Credit Cards
When grading cash back business credit cards like the Bank of America® Business Advantage Unlimited Cash Rewards card, we first evaluated the ongoing rewards. We also took into account the introductory rewards, annual fee, and introductory and ongoing annual percentage rates (APRs)
| Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
| Ongoing Rewards | 25 | 30 |
| Introductory Rewards | 15 | 20 |
| Additional Features | 10 | 15 |
| Annual Fee | 15 | 15 |
| Introductory APR | 6 | 10 |
| Ongoing APR | 8 | 10 |
| Total Score | 79 | 100 |
Who the Bank of America® Business Advantage Unlimited Cash Rewards Credit Card Is Best For
- Business owners looking for fixed-rate rewards: The card offers 1.5% unlimited, fixed-rate cash back on all purchases, regardless of spending categories.
- Business owners with an existing business checking account with Bank of America®: You can earn unlimited 1.5% cash back on purchases, or join Preferred Rewards for Business for no fee, and earn up to an unlimited 2.62% cash back on all purchases if you have a Bank of America® business checking account and qualify for Preferred Rewards for Business Platinum Honors tier. If you don’t have an account but are interested in one, read our Bank of America business checking review for information on your options.
If this doesn’t fit your needs, see our recommended alternatives below. You may also check out our lists of the best small business credit cards and leading Bank of America business credit cards for other options.
Bank of America® Business Advantage Unlimited Cash Rewards Credit Card Rewards
- $300 online statement credit bonus after you spend at least $3,000 in purchases in the first 90 days of opening an account
- Unlimited 1.5% cash back on purchases, or join Preferred Rewards for Business for no fee, and earn up to an unlimited 2.62% cash back on all purchases if you have a Bank of America® business checking account and qualify for Preferred Rewards for Business Platinum Honors tier.
Bank of America® Business Advantage Unlimited Cash Rewards Calculator
Want to know how much you can earn from the Bank of America® Business Advantage Unlimited Cash Rewards credit card? Use our calculator below—just input your expected monthly expenses and your Preferred Rewards for Business membership tier.
Bank of America® Business Advantage Unlimited Cash Rewards Calculator
Your potential annual reward earnings are:
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How to Redeem Bank of America® Business Advantage Unlimited Cash Rewards Cash Back
You can redeem your cash rewards as a deposit into your Bank of America checking or savings account, as a statement credit, or as a check that’s mailed to you.
Bank of America® Business Advantage Unlimited Cash Rewards Credit Card Features
Exclusive Services
- Cash Flow Management Tools: Manage your business easily using Bank of America’s online services including automatic payments, transfers, and QuickBooks integration.
- Access to a Business Credit Score: View and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Online and Mobile Access: Check your balance and monitor your transactions whenever you need to with Bank of America’s secure Online and Mobile Banking.
- Travel and Emergency Services: Take advantage of $100,000 in travel accident insurance, auto rental insurance, emergency ticket replacement, lost luggage assistance, and legal and medical referrals while away from home.
Security
- Zero Liability Protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
- Fraud Monitoring: Get notified of any fraudulent activities. Bank of America will block potential fraud if it detects abnormal patterns in your transactions.
- Balance Connect®: Prevent declined purchases, returned checks, or other overdrafts when you link your Bank of America® Business Advantage Unlimited Cash Rewards to a Bank of America business checking account for overdraft protection.
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Bank of America® Business Advantage Unlimited Cash Rewards Credit Card Fees
APR
- Introductory: 0% APR on purchases for the first nine billing cycles after opening an account
- Ongoing APR for purchases and balance transfers: 18.49% to 28.49% variable, which will adjust with the prime rate
- Cash advance: 29.49% variable, which will adjust with the prime rate
- Penalty: None
Fees
- Annual: $0
- Balance transfer and cash advance: 4% of the amount of each transaction
- Foreign transaction: 3% of the US dollar amount of each transaction
- Late payment:
- $0 if balance is less than or equal to $100
- $29 if $100.01 to $1,000
- $39 if $1,000.01 to $5,000
- $49 if greater than $5,000
Your due date is at least 25 days from your statement Closing Date.
How to Make Payments
- Bank of America® mobile app: Log in to the iOS or Android 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 find an ATM location near you.
- Online: Log in to Bank of America’s Online Banking site, select the “Bill Pay” tab, and then follow the prompts.
- Mail: Pay using the following address:
Business Card Payments
Bank of America Business Card
PO Box 15710
Bank of America® Business Advantage Unlimited Cash Rewards Credit Card Alternatives
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American Express Blue Business CashTM
| Intro APR | 0% on purchases |
|---|---|
| Regular APR | 16.74% - 28.49% Variable |
| Annual Fee | No annual fee |
| Credit Needed | Excellent, Good |
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 16.74% – 28.49%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
- Earn 2% cash back on all eligible purchases on the first $50,000 of purchases each calendar year, 1% thereafter. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power*.
- * The amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors. Just remember, the amount you can spend with Expanded Buying Power is not unlimited.
- No Annual Fee. Terms Apply. Learn More.
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter. (Car Rental Loss and Damage Insurance can provide coverage up to $50,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.)
When to Consider the American Express Blue Business CashTM
- Your annual expenses do not exceed $50,000: The American Express Blue Business CashTM lets you earn 2% cash back on the first $50,000 purchases per year, which is 0.5% higher than what the Bank of America® Business Advantage Unlimited Cash Rewards Credit Card offers. You will earn 1% cash back after the cap is met.
- You need a flexible credit limit: The card features Expanded Buying Power, which lets you spend over your credit limit when you need to. The amount you can spend will adjust based on your card usage, payment behavior, credit score, and financial resources.
Other Benefits
- Charges $0 annual fee
- Lets you earn $250 statement credit as a welcome offer after spending $3,000 in the first three months after opening an account
- Comes with 0% introductory APR for the first 12 months of card ownership
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
| Intro APR | 0% intro on purchases for 12 billing cycles |
|---|---|
| Regular APR | 17.24% - 26.24% Variable |
| Annual Fee | $0 |
| Credit Needed | Excellent, Good |
- Earn $750 in cash back. Just spend $6,000 on the Account Owner's card in the first 180 days of opening your account.
- Earn 3% cash back on eligible purchases at gas and EV charging stations (transactions of $200 or less)*, office supply stores, cell phone service providers and restaurants (*excludes discount stores/supercenters and wholesale clubs).
- 1% cash back on all other eligible purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Center when using your card.
- Take control of your card spend with U.S. Bank Spend Management—a game-changing platform for monitoring and managing business expenses.
- No limit on total cash back earned.
- Redeem Cash Rewards right away or save them for later. Cash Rewards do not expire as long as the account remains active.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or QuickBooks.
- Terms and conditions apply.
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
- U.S. Bank ExtendPay® Plan: Pay off your eligible balance over time with this feature without interest — just pay a small monthly fee
When to Consider U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
- You need a longer 0% APR period: While the Bank of America® Business Advantage Unlimited Cash Rewards card lets you pay off your purchases interest-free for the first nine months, this period is quite short compared to other cards. If you plan to make a significant purchase after you receive your card, then you’ll benefit from U.S. Bank Business Triple Cash Rewards World Elite Mastercard®’s 0% APR for the first 12 billing cycles.
Other Benefits
- Doesn’t charge an annual fee
- Offers $100 annual statement credit for recurring software subscriptions
- Lets you earn $750 cash bonus when you spend $6,000 in the first 180 days from opening an account
- Offers up to 5% cash back, depending on expense categories
- Features ExtendPay® Plan that allows you to divide your eligible balance into equal monthly installments without interest (only a small monthly fee)
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Bank of America® Business Advantage Customized Cash Rewards
| Intro APR | 0% 9 billing cycles |
|---|---|
| Regular APR | 17.49% - 27.49% Variable APR on purchases |
| Annual Fee | $0.00 |
| Credit Needed | Excellent |
- 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 18.49% to 28.49% 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.
- Access to a business credit score: Bank of America lets you view and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Zero liability protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
- Fraud monitoring: Bank of America will block potential fraud if it detects abnormal patterns in your transactions. It’ll also notify you if it suspects any fraudulent activity.
When to Consider Bank of America® Business Advantage Customized Cash Rewards
- You want to earn premium cash back on your chosen expense categories: If you have substantial expenses on certain spending categories, you can take advantage of the premium cash back from Bank of America® Business Advantage Customized Cash Rewards:
- 3% cash back on on your selected category (including gas, office supplies, travel, TV or telecommunication services, computer services, and business consulting services)
- 2% cash back on dining
- 1% cash back on all other purchases
Other Benefits
- Charges $0 annual fee
- Offers $300 online statement bonus when you spend at least $3,000 in purchases for the first 90 days of opening an account
- Lets you earn up to 75% more cash back if you have an existing Bank of America business check account and qualify for the Preferred Rewards for Business Platinum Honors tier
- Has a 0% introductory APR on purchases for the first nine billing cycles
Frequently Asked Questions (FAQs)
What information do I need to provide to apply for a Bank of America business credit card?
To apply for a Bank of America business credit card, you need to provide your business name and address, federal tax ID number, type of industry, year and month established, and gross annual sales. You also need to provide your personal information, including your name, home address, role in the company, source of income, total household income, and percentage of ownership.
How to qualify for the Bank of America’s Preferred Rewards for Business?
You can become a Preferred Rewards for Business member for free. Simply apply online if you have
- An active Bank of America business checking account.
- A three-month average combined daily balance of $20,000 or more in either Bank of America business deposit accounts or Merrill business investment accounts.
What are the Preferred Rewards for Business tiers?
There are three reward tiers, and each varies depending on your average combined daily balance.
| Minimum Qualifying Balance | Bonus Rewards | |
|---|---|---|
| Gold | $20,000 | 25% more |
| Platinum | $50,000 | 50% more |
| Platinum Honors | $100,000 | 75% more |
How can I level up to a Preferred Rewards for Business higher tier?
You can move to a higher tier after any month when your balances qualify for the next level of rewards. You can keep your benefits as long as you can maintain your qualification for the program. If you no longer meet the eligible business checking account and/or balance requirements, you’ll have a three-month grace period to restore your eligibility.
Bottom Line
Bank of America® Business Advantage Unlimited Cash Rewards card is best suited for those who prefer to earn fixed-rate rewards and those with existing business savings or checking accounts with Bank of America®. It offers unlimited 1.5% cash back with an interest-free financing option on purchases for the first nine billing cycles. Note, however, that the 0% APR period does not apply to balance transfers.
To see rates & fees for the American Express cards mentioned in this article, reference the following links below:
American Express Blue Business CashTM Card
