Editor’s note: This is a recurring post with regularly updated card details.
Bank of America has four business credit cards with $0 annual fees and 0% Annual Percentage Rate (APR) periods. You can choose from earning cash back or travel rewards, which are great if you have an existing Bank of America business checking account, as you can receive additional rewards if you are eligible for the Preferred Rewards for Business program. You may also opt for a non-rewards card (with automatic rebates at selected merchants) that offers a low ongoing APR; note that you need an excellent credit score to qualify.
Here are the four best Bank of America business credit cards for 2024:
- Business Advantage Customized Cash Rewards: Best for earning cash back in the category of your choice
- Business Advantage Travel Rewards World Mastercard®: Best for earning travel rewards
- Business Advantage Unlimited Cash Rewards: Best for earning unlimited, fixed-rate cash back
- Platinum Plus® Mastercard® Business Card: Best for low starting APR and automatic rebates with Mastercard Easy Savings®
Overview of the Bank of America Business Credit Cards
Best For | Welcome Offer | Ongoing Rewards | ||
|---|---|---|---|---|
 Business Advantage Customized Cash Rewards | Earning cash back in the category of your choice | Up to 3% cash back | ||
 Business Advantage Travel Rewards World Mastercard® | Earning travel rewards | Up to 3x points | ||
 Business Advantage Unlimited Cash Rewards | Earning unlimited, fixed-rate cash back | 1.5% cash back | ||
 Platinum Plus® Mastercard® Business Card | Low starting APR and automatic rebates with Mastercard Easy Savings® | None |
How To Choose the Right Bank of America Business Credit Card
One of the advantages of Bank of America business credit cards is that they come with fewer fees than other small business credit cards. Most Bank of America business credit cards carry a $0 annual fee and offer interest-free financing, and you can choose to earn rewards in the form of cash back or travel points. The best card for you will depend on your business’ rewards preference and spending habits.
Here are a few important factors to consider when deciding which is right for your business:
Bank of America has business credit cards offering cash back or travel rewards. If you want to earn cash back, your options are the Business Advantage Customized Cash Rewards and Business Advantage Unlimited Cash Rewards. If you want to earn travel rewards, consider the Business Advantage Travel Rewards World Mastercard®.
It’s also worth noting that the Platinum Plus® Mastercard® Business Card lacks ongoing rewards, but offers automatic rebates from selected merchants through Mastercard Easy Saving®. For other options, you can check our guide to the best cash back business credit cards.
If you have significant expenses in a particular category, the best card will depend on where your business spends the most. You can choose from either the Business Advantage Travel Rewards World Mastercard® and Business Advantage Customized Cash Rewards. The Business Advantage Unlimited Cash Rewards card offers fixed-rate rewards, which are great if you don’t want to monitor your expense categories.
If you need to carry a balance from time to time, it’s better to consider a credit card that has a low ongoing APR. Among the cards listed here, the Platinum Plus® Mastercard® Business Card has the lowest starting APR. However, it’s important to note that aside from rebates from selected merchants, it does not offer ongoing rewards.
If you have an existing Bank of America business checking account, then you can get up to 75% more rewards on all purchases when you qualify for the Preferred Rewards for Business with any of the following cards:
- Business Advantage Customized Cash Rewards
- Business Advantage Unlimited Cash Rewards
- Business Advantage Travel Rewards World Mastercard®
Business Advantage Customized Cash Rewards: Best for Earning Cash Back in the Category of Your Choice
Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card
BEST FOR:
Those who want to earn 3% cash back in a spending category of their choice
9 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.
- 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.
Pros
- Offers flexible redemption options
- $0 annual fee
- Welcome offer
Cons
- Premium cash back rewards are capped on a selected spending category
- Charges foreign transaction fees
- Short introductory APR period
- 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.
9 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.
- 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.
Pros
- Offers flexible redemption options
- $0 annual fee
- Welcome offer
Cons
- Premium cash back rewards are capped on a selected spending category
- Charges foreign transaction fees
- Short introductory APR period
- 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.
Why You Should Consider the Business Advantage Customized Cash Rewards
- Premium rewards on your choice category: Receive 3% cash back on your chosen category—which can be from gas stations and electric vehicle (EV) charging stations (default), office supplies, travel, TV/telecom and wireless, computer services, or business consulting services and 2% cash back on dining purchases on the first $50,000 total purchases per calendar year (get 1% cash back when the cap is reached)
- $300 online statement credit after spending at least $3,000 in purchases within the first 90 days of account opening
- 0% APR on purchases for the first nine months
- $0 annual fee
- Up to 75% more cash back if you have a business checking account with Bank of America and qualify for Preferred Rewards for Business program
- Travel benefits: Receive up to $100,000 in travel accident insurance and other additional services, including auto rental insurance, emergency ticket replacement, lost luggage assistance, and legal and medical referrals
Choose the Business Advantage Customized Cash Rewards if:
- Your significant expenses can change across different categories every month
- You need to make substantial purchases and take advantage of the 0% APR
Business Advantage Travel Rewards World Mastercard®: Best for Earning Travel Rewards
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
BEST FOR:
Earning top rewards on travel purchases booked through Bank of America Travel Center
9 billing cycles
- Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining purchases.
- Earn unlimited 1.5 points for every $1 spent, or join Preferred Rewards for Business for no fee, and earn up to an unlimited 2.62 points for every $1 spent on all purchases if you have a Bank of America® business checking account and qualify for Preferred Rewards for Business Platinum Honors tier.
- No limit to the amount of points you can earn and points don't expire as long as your account remains open.
- No annual fee and no international transaction fees.
- Choose how to redeem points for a statement credit to offset travel and dining purchases, travel with no blackout dates at the Bank of America® Travel Center, for cash back or gift cards.
- 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.
Pros
- Charges $0 annual and foreign transaction fees
- Offers fixed-rate cash back rewards
- Has no blackout dates
Cons
- Does not offer a 0% introductory period on balance transfers
- Requires excellent credit to qualify
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
9 billing cycles
- Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining purchases.
- Earn unlimited 1.5 points for every $1 spent, or join Preferred Rewards for Business for no fee, and earn up to an unlimited 2.62 points for every $1 spent on all purchases if you have a Bank of America® business checking account and qualify for Preferred Rewards for Business Platinum Honors tier.
- No limit to the amount of points you can earn and points don't expire as long as your account remains open.
- No annual fee and no international transaction fees.
- Choose how to redeem points for a statement credit to offset travel and dining purchases, travel with no blackout dates at the Bank of America® Travel Center, for cash back or gift cards.
- 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.
Pros
- Charges $0 annual and foreign transaction fees
- Offers fixed-rate cash back rewards
- Has no blackout dates
Cons
- Does not offer a 0% introductory period on balance transfers
- Requires excellent credit to qualify
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
Why You Should Consider the Business Advantage Travel Rewards World Mastercard®
- 3x points per dollar on purchases made at the Bank of America® Travel Center and 1.5x points per dollar on all other purchases
- 30,000 online bonus points after spending at least $3,000 in purchases within the first 90 days of account opening; this can be redeemed for a $300 statement credit towards travel or dining purchases
- Flexible redemptions: Redeem 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 annual and foreign transaction fees
- Up to 75% more cash back if you have a Bank of America business checking account and qualify for Preferred Rewards for Business program
Choose the Business Advantage Travel Rewards World Mastercard® if you:
- Travel for business frequently
Business Advantage Unlimited Cash Rewards: Best for Earning Unlimited, Fixed-rate Cash Back
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card
BEST FOR:
Those with an existing business checking account with Bank of America
9 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.
- 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.
Pros
- Charges $0 annual fees
- Flexible redemption options
- With welcome offer
- With 0% introductory APR on purchases
Cons
- 0% introductory APR isn’t applicable to balance transfers
- With foreign transaction fees
- 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.
9 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.
- 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.
Pros
- Charges $0 annual fees
- Flexible redemption options
- With welcome offer
- With 0% introductory APR on purchases
Cons
- 0% introductory APR isn’t applicable to balance transfers
- With foreign transaction fees
- 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.
Why You Should Consider the Business Advantage Unlimited Cash Rewards
- Unlimited 1.5% cash back on all purchases
- 0% APR introductory period on purchases for the first nine billing cycles
- $300 online statement credit after spending at least $3,000 in purchases within the first 90 days of account opening
- $0 annual fee
- Up to 75% more cash back if you have a Bank of America business checking account and qualify for Preferred Rewards for Business program
Choose the Business Advantage Unlimited Cash Rewards if you:
- Want to earn unlimited fixed-rate cash back without monitoring spend categories
Platinum Plus® Mastercard® Business Card: Best for Low Starting APR & Automatic Rebates With Mastercard Easy Savings®
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.
Why You Should Consider the Platinum Plus® Mastercard® Business Card
- Low ongoing APR compared to most business credit cards
- 0% APR on purchases for the first seven billing cycles
- $300 online statement credit after spending a minimum of $3,000 in the first 90 days of card ownership
- $0 annual fee
Choose the Platinum Plus® Mastercard® Business Card if you:
- Plan to carry a balance to the next billing cycle from time to time
- Don’t mind not earning rewards on your purchases in exchange for a low ongoing APR
Preferred Rewards for Business
The Preferred Rewards for Business is a rewards program that Bank of America offers to its small business clients. As a member, you can access a wide range of rewards, benefits, and savings.
To become a Preferred Rewards for Business member, you need to have an active Bank of America business checking account. Also, your three-month average daily balance should be at least $20,000. This balance can be in combined qualifying Bank of America business deposit accounts and Merrill business investment accounts.
Preferred Rewards for Business tiers
There are three tiers, which are based on your balance:
- Gold: $20,000 to $49,999
- Platinum: $50,000 to $99,999
- Platinum Honors: $100,000 and more
These will also be used as your minimum qualifying balance requirements to maintain your tier. Bank of America reviews your program qualification annually—hence you don’t need to worry if your balances dip temporarily. Note, however, that there will be a three-month grace period to restore your eligibility if you no longer meet the eligible business checking account and/or balance requirements.
Additional Rewards
Members of the Preferred Rewards For Business can earn additional rewards from the Business Advantage Customized Cash Rewards, Business Advantage Unlimited Cash Rewards, and Business Advantage Travel Rewards World Mastercard® credit cards, as follows:
- Gold: 25% more rewards
- Platinum: 50% more rewards
- Platinum Honors: 75% more rewards
All tiers also provide access to a financial analysis with a Merrill Financial Solutions Adviser.
Frequently Asked Questions (FAQs)
You need to prepare your personal and business identification documents and information, including your business name, tax identification number, type of industry, gross annual sales, and year established among others. Also, keep in mind that you need to have an excellent personal credit score (FICO Credit Score of 800 to 850) to qualify.
According to Bank of America’s website, online applications can take as little as 5 to 10 minutes. Make sure to prepare all your personal and business information—including your business tax ID and gross annual sales/net profit—to make the process more seamless.
Bank of America has branches in Washington, D.C. and the following states:
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- Tennessee
- Texas
- Utah
- Virginia
Bottom Line
If you have an excellent credit score, you’ll likely qualify for the best Bank of America business credit cards. All cards in this guide have a $0 annual fee and come with 0% APR on purchases. You can earn ongoing cash back, travel points, or automatic rebates from selected merchants. It’s best to maintain your business deposit account with Bank of America to enjoy more perks and benefits.
