Best Bank of America Business Credit Cards
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Benilyn has over a decade of experience as a banking officer. Her expertise is featured throughout Fit Small Business in personal finance, credit card, and real estate investing content.
This article is part of a larger series on Best Small Business Credit Cards.
Bank of America has a total of six business credit cards that offer either cash back or travel rewards. Some of these cards come with no-financing options, low annual percentage rates (APRs), and no annual fees. Three of the Bank of America business credit cards are best for business owners with existing Bank of America deposit accounts—they offer up to 75% more rewards if you qualify for the highest Preferred Rewards for Business tier.
To see how these cards stack up against others we reviewed on our site, click Add to Compare on a card below and select up to two additional cards for comparison.
Bank of America® Business Advantage Customized Cash Rewards Mastercard® Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Those wanting up to 3% cash back in a spending category of your choice
Intro APR
0%
Regular APR
16.49% - 26.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Get a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening – with no annual fee and cash rewards don't expire.
- Earn 3% cash back in the category of your choice, 2% cash back on dining purchases and unlimited 1% cash back on all other purchases.
- You'll earn 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.49% to 26.49% will apply.
- Redeem your cash back as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you.
- Earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to 5.25% in your selected choice category and up to 3.5% 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.
- 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
- Doesn’t charge annual fees
- With sign-up bonus
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.
Intro APR
0%
Regular APR
16.49% - 26.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Get a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening – with no annual fee and cash rewards don't expire.
- Earn 3% cash back in the category of your choice, 2% cash back on dining purchases and unlimited 1% cash back on all other purchases.
- You'll earn 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.49% to 26.49% will apply.
- Redeem your cash back as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you.
- Earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to 5.25% in your selected choice category and up to 3.5% 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.
- 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
- Doesn’t charge annual fees
- With sign-up bonus
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.
Bank of America Business Advantage Unlimited Cash Rewards Mastercard Credit Card
BEST FOR:
Those with an existing business checking account with Bank of America®
Intro APR
0%
Regular APR
16.49% - 26.49% Variable APR on purchases
Annual Fee
$0
Credit Needed
Excellent
- Get a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening.
- Earn unlimited 1.5% cash back on all purchases everywhere, every time.
- No annual cap and cash rewards don’t expire.
- No annual fee.
- 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 our highest Preferred Rewards for Business tier. That means you could earn up to an unlimited 2.62% cash back on all purchases.
- 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 the first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.49% to 26.49% 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
- No annual fee
- Flexible redemption options
- Sign-up bonus
Cons
- Low cash back rewards
- No zero foreign transaction fee
- Short 0% APR period
- Travel & emergency services: This includes $100,000 in travel accident insurance, auto rental insurance, emergency ticket replacement, lost-luggage assistance, and legal and medical referrals when you’re away from home.
- Online & mobile access: Manage your account anytime and anywhere through online and mobile banking.
- Balance Connect™ for overdraft protection: You have the option to link your credit card to a Bank of America® business checking account for overdraft protection to help prevent declined purchases, returned checks, or other overdrafts.
Intro APR
0%
Regular APR
16.49% - 26.49% Variable APR on purchases
Annual Fee
$0
Credit Needed
Excellent
- Get a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening.
- Earn unlimited 1.5% cash back on all purchases everywhere, every time.
- No annual cap and cash rewards don’t expire.
- No annual fee.
- 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 our highest Preferred Rewards for Business tier. That means you could earn up to an unlimited 2.62% cash back on all purchases.
- 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 the first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.49% to 26.49% 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
- No annual fee
- Flexible redemption options
- Sign-up bonus
Cons
- Low cash back rewards
- No zero foreign transaction fee
- Short 0% APR period
- Travel & emergency services: This includes $100,000 in travel accident insurance, auto rental insurance, emergency ticket replacement, lost-luggage assistance, and legal and medical referrals when you’re away from home.
- Online & mobile access: Manage your account anytime and anywhere through online and mobile banking.
- Balance Connect™ for overdraft protection: You have the option to link your credit card to a Bank of America® business checking account for overdraft protection to help prevent declined purchases, returned checks, or other overdrafts.
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Earning top rewards on travel purchases booked through Bank of America
Intro APR
0%
Regular APR
16.49% - 26.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Earn 30,000 online bonus points after you make at least $3,000 in net 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 on all purchases everywhere, every time-no matter how much you spend. Points don't expire.
- Earn 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center.
- No annual fee and no international transaction fees.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.49% to 26.49% will apply.
- Redeem points for a statement credit to offset travel and dining purchases, travel with no blackout dates at the Bank of America Travel Center, cash back or gift cards.
- Earn up to 75% more points on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to an unlimited 2.62 points per $1 spent on all purchases and up to 5.25 points per $1 spent at the Bank of America Travel Center.
- 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
- No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
- No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
- 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
- Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.
Cons
- Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
- Short 0% APR introductory period: The Bank of America Business Advantage Travel Rewards World Mastercard® offers 0% APR for the first nine billing cycles from opening an account—this is a disadvantage if you need a longer 0% APR period.
- No 0% APR on balance transfers: The introductory 0% APR only applies to purchases—if you need to transfer a balance from another credit card, you’ll need to pay an APR ranging from 12.24% to 22.24%.
- 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.
Intro APR
0%
Regular APR
16.49% - 26.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Earn 30,000 online bonus points after you make at least $3,000 in net 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 on all purchases everywhere, every time-no matter how much you spend. Points don't expire.
- Earn 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center.
- No annual fee and no international transaction fees.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.49% to 26.49% will apply.
- Redeem points for a statement credit to offset travel and dining purchases, travel with no blackout dates at the Bank of America Travel Center, cash back or gift cards.
- Earn up to 75% more points on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to an unlimited 2.62 points per $1 spent on all purchases and up to 5.25 points per $1 spent at the Bank of America Travel Center.
- 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
- No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
- No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
- 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
- Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.
Cons
- Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
- Short 0% APR introductory period: The Bank of America Business Advantage Travel Rewards World Mastercard® offers 0% APR for the first nine billing cycles from opening an account—this is a disadvantage if you need a longer 0% APR period.
- No 0% APR on balance transfers: The introductory 0% APR only applies to purchases—if you need to transfer a balance from another credit card, you’ll need to pay an APR ranging from 12.24% to 22.24%.
- 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.
Alaska Airlines Visa® Business credit card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Those who fly with Alaska Airlines frequently
Intro APR
N/A
Regular APR
20.24% to 28.24% Variable APR on purchases
Annual Fee
$75 for the company and $25 per card
Credit Needed
Excellent
- Get 40,000 bonus miles plus Alaska's Famous Companion Fare from $121 ($99 fare plus taxes and fees from $22) with this offer. To qualify, make purchases of $2,000 or more within the first 90 days of opening your account.
- Get Alaska's Famous Companion Fare™ from $121 ($99 plus taxes and fees from $22) every year! That's right, each year on your account anniversary get a companion fare from $121 ($99 plus taxes and fees from $22). Valid on all Alaska flights booked on alaskaair.com with no blackout dates.
- Save with a free checked bag on Alaska flights for you and up to six other guests on the same reservation.
- Earn 3 miles for every $1 spent directly on Alaska Airlines purchases and 1 mile for every $1 spent on all other purchases.
- 50% off Alaska Lounge day passes and 20% back on inflight food, beverage and Wi-Fi purchases when you pay with your card.
- Get exclusive access to discounted redemption levels when you redeem miles for hotel stays at more than 400,000 properties using Alaska Airline Hotels.
- Earn unlimited miles and travel with no blackout dates and no international transaction fees.
- Enjoy many money-saving benefits, 800-plus destinations, more than a dozen global airline partners, and a low annual fee of $50 for the company and $25 per card.
Pros
- With sign-up bonus
- Doesn’t charge foreign transaction fees
- Has no penalty APR
Cons
- Doesn’t have a 0% introductory APR period on purchases and balance transfers
- Charges annual fees
- Requires excellent credit
- 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.
- Free checked bag benefit: Those with an open account at the time of travel and up to six guests traveling on the same reservation may check one bag free of charge on qualifying reservations.
- Rebate on food, beverage, and Wi-Fi onboard purchases: You can receive a 20% rebate, in the form of a statement credit, on food, beverages, and Wi-Fi purchases made on any Alaska-operated flights.
Intro APR
N/A
Regular APR
20.24% to 28.24% Variable APR on purchases
Annual Fee
$75 for the company and $25 per card
Credit Needed
Excellent
- Get 40,000 bonus miles plus Alaska's Famous Companion Fare from $121 ($99 fare plus taxes and fees from $22) with this offer. To qualify, make purchases of $2,000 or more within the first 90 days of opening your account.
- Get Alaska's Famous Companion Fare™ from $121 ($99 plus taxes and fees from $22) every year! That's right, each year on your account anniversary get a companion fare from $121 ($99 plus taxes and fees from $22). Valid on all Alaska flights booked on alaskaair.com with no blackout dates.
- Save with a free checked bag on Alaska flights for you and up to six other guests on the same reservation.
- Earn 3 miles for every $1 spent directly on Alaska Airlines purchases and 1 mile for every $1 spent on all other purchases.
- 50% off Alaska Lounge day passes and 20% back on inflight food, beverage and Wi-Fi purchases when you pay with your card.
- Get exclusive access to discounted redemption levels when you redeem miles for hotel stays at more than 400,000 properties using Alaska Airline Hotels.
- Earn unlimited miles and travel with no blackout dates and no international transaction fees.
- Enjoy many money-saving benefits, 800-plus destinations, more than a dozen global airline partners, and a low annual fee of $50 for the company and $25 per card.
Pros
- With sign-up bonus
- Doesn’t charge foreign transaction fees
- Has no penalty APR
Cons
- Doesn’t have a 0% introductory APR period on purchases and balance transfers
- Charges annual fees
- Requires excellent credit
- 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.
- Free checked bag benefit: Those with an open account at the time of travel and up to six guests traveling on the same reservation may check one bag free of charge on qualifying reservations.
- Rebate on food, beverage, and Wi-Fi onboard purchases: You can receive a 20% rebate, in the form of a statement credit, on food, beverages, and Wi-Fi purchases made on any Alaska-operated flights.
Bank of America® Platinum Plus® Mastercard® Business card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Low-interest financing on business purchases
Intro APR
0%
Regular APR
14.49% - 25.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Get a $300 statement credit online bonus after you make at least $3,000 in net 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 14.49% to 25.49% will apply.
- 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
- No 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.
Intro APR
0%
Regular APR
14.49% - 25.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Get a $300 statement credit online bonus after you make at least $3,000 in net 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 14.49% to 25.49% will apply.
- 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
- No 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.
Business Advantage Unlimited Cash Rewards Secured Credit Card
BEST FOR:
Those who cannot qualify for unsecured business credit cards
Intro APR
None
Regular APR
26.49%
Annual Fee
None
Credit Needed
Poor
- Earn unlimited 1.5% cash back on all purchases
Pros
- No annual fee
- Unlimited rewards
- Builds business credit
Cons
- Security deposit is required
- No sign-up bonus
- No 0% Intro APR
- Cash flow management tools
- Travel and emergency services
- Online and mobile access
- Balance Connect™ for overdraft protection
- Zero liability protection
Intro APR
None
Regular APR
26.49%
Annual Fee
None
Credit Needed
Poor
- Earn unlimited 1.5% cash back on all purchases
Pros
- No annual fee
- Unlimited rewards
- Builds business credit
Cons
- Security deposit is required
- No sign-up bonus
- No 0% Intro APR
- Cash flow management tools
- Travel and emergency services
- Online and mobile access
- Balance Connect™ for overdraft protection
- Zero liability protection
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 compared to other small business credit cards. Bank of America offers cards with cash back rewards, travel rewards, no-interest financing, no annual fee, and low ongoing APRs. The best Bank of America credit card will depend on your business’s rewards preference and spending habits and whether you’ll need to carry a balance.
Here are a few important factors to consider when deciding which is right for your business:
1. Preferred Rewards
Bank of America has business credit cards that offer either cash back or travel rewards. For cash back rewards, your options include the Business Advantage Customized Cash Rewards, Business Advantage Unlimited Cash Rewards, and Business Advantage Unlimited Cash Rewards Secured. The right one will depend on whether you want to monitor your spending categories or prefer to earn unlimited fixed-rate cash back.
And if you want to earn travel rewards, you can choose between the Business Advantage Travel Rewards World Mastercard® or the Alaska Airlines Business Credit Card, depending on your airline preference. Keep in mind that the Alaska Airlines Business Credit Card charges an annual fee, while the Business Advantage Travel Rewards World Mastercard® has a zero annual fee.
It’s also worth noting that the Platinum Plus® Mastercard® Business Card doesn’t offer ongoing rewards. You can check our guide to the best cash back business credit cards for other options.
2. Spending Habits
Another factor that will determine the best Bank of America business credit card for you is your business’s spending habits. If you have significant expenses in a particular category, you may benefit more from either the Business Advantage Travel Rewards World Mastercard® or the Business Advantage Customized Cash Rewards, depending on where you spend the most. Other Bank of America business credit cards offer fixed-rate rewards, which are great if you don’t want to monitor your expense categories.
3. Interest-Free Financing
Aside from the Alaska Airlines Business Credit Card and Business Advantage Unlimited Cash Rewards Secured, the other four Bank of America credit cards offer a 0% introductory APR—and you’ll want to take advantage of the interest-free financing option if you plan to make a large purchase.
Also, the introductory 0% APR offered by the Platinum Plus® Mastercard® Business Card is only for seven months, while other cards on this list have 0% APR options for up to nine months.
4. Annual Fees
Most Bank of America business credit cards come with no annual fee, except for the Alaska Airlines Business Credit Card, which charges a $50 annual fee plus $25 for each additional employee card. Annual fees can add to your overall cost, so this is something that you should consider when choosing the best Bank of America business credit card. See our guide to the best business credit cards with no annual fee for more options.
5. Ongoing APRs
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. While most Bank of America business credit cards come with a low starting APR, the Platinum Plus® Mastercard® Business Card has the lowest APR (11.74% to 22.74%) among all cards on this list. However, it’s important to note that this card doesn’t offer ongoing rewards.
6. Bank of America Deposit Account
If you have an existing business checking account with Bank of America, the Business Advantage Customized Cash Rewards, Business Advantage Unlimited Cash Rewards, and Business Advantage Travel Rewards World Mastercard® are your best options. With these, you can get up to 75% more rewards on all purchases when you qualify for Platinum Honors, the highest Preferred Rewards for Business tier.
Business Advantage Customized Cash Rewards: Best for Earning Cash Back in the Category of Your Choice
Who Is the Business Advantage Customized Cash Rewards Best For?
The Business Advantage Customized Cash Rewards card is best for business owners who want to earn 3% cash back rewards in their chosen spending category, such as gas stations, office supply stores, travel, telecom services, computer services, and business consulting. Plus, you’ll earn 2% cash back on dining purchases and 1% on all other purchases. This is also an excellent option if you have a Bank of America® business checking account and become a Preferred Rewards for Business member as you can earn up to 75% more cash back on every purchase.
It’s also a good choice if you want flexible redemption options. You can redeem your cash back as a deposit to your Bank of America® checking or savings account, as a card statement credit, or as a check by mail. If you don’t want to keep track of spending categories, consider the Business Advantage Unlimited Cash Rewards credit card instead.
Why We Like the Business Advantage Customized Cash Rewards
- Sign-up bonus: Get a $300 statement credit after spending at least $3,000 in net purchases within 90 days after opening an account.
- Premium cash back in your choice category: Earn 3% cash back in the category of your choice. Choose from gas stations, office supply stores, travel, TV or telecommunication services, computer services, or business consulting services.
- Flexible redemption options: Redeem your cash back as a deposit into your Bank of America® checking or savings account, as a statement credit, or as a check mailed to you. Plus, your cash rewards don’t expire as long as your account remains open and in good standing.
- No annual fee: Minimize your overall credit cost by not having to pay annual fees.
- 0% introductory APR: Take advantage of interest-free financing for the first nine billing cycles after opening an account.
- Up to 75% more cash back: You get this if you have a business checking account with Bank of America and qualify for the highest Preferred Rewards for Business tier, Platinum Honors.
What’s Missing From the Business Advantage Customized Cash Rewards Card
Business Advantage Customized Cash Rewards doesn’t offer zero foreign transaction fees, which is something to consider if you want to use your card to make purchases outside of the country. While this card offers premium rewards on your chosen category, the 3% and 2% cash back only applies on the first $50,000 combined purchases each calendar year; when the cap is met, you’ll earn 1% thereafter. Moreover, the 0% introductory APR doesn’t apply to balance transfer transactions.
Business Advantage Unlimited Cash Rewards: Best for Unlimited, Fixed-rate Cash Back
Who Is the Business Advantage Unlimited Cash Rewards Best For?
Business Advantage Unlimited Cash Rewards is best for business owners who want to earn unlimited 1.5% fixed-rate cash back on all purchases regardless of spending categories. This is also a good option if you have an existing business checking account with Bank of America as you’ll earn up to 75% more cash back on every purchase if you’re a Preferred Rewards for Business member.
If your business expenses don’t lean toward any particular spending category, then this is a good choice. However, if you have substantial expenses on certain categories and prefer to earn premium rewards, you may benefit more from the Business Advantage Customized Cash Rewards credit card.
Why We Like the Business Advantage Unlimited Cash Rewards
- Sign-up bonus: Earn a $300 statement credit after spending at least $3,000 in net purchases within 90 days of card membership.
- Fixed-rate rewards: Earn unlimited 1.5% cash back on all purchases without the need to monitor spending categories.
- Up to 75% more cash back: You can get this if you have a business checking account with Bank of America® and become a Preferred Rewards for Business member.
- Flexible redemption options: You can redeem your cash back 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 and in good standing.
- No annual fee: Earn unlimited rewards on all purchases without paying annual fees, reducing your credit cost.
- 0% introductory APR: Make a large purchase and enjoy interest-free financing for the first nine billing cycles after opening an account.
What’s Missing From the Business Advantage Unlimited Cash Rewards
Similar to the Business Advantage Customized Cash Rewards, the Business Advantage Unlimited Cash Rewards doesn’t offer interest-free financing on balance transfers. It also lacks zero foreign transaction fees, which is a drawback if you want to use your card to make purchases outside the United States. While it offers unlimited rewards, the cash back rate is lower compared to other fixed-rate rewards business credit cards.
Business Advantage Travel Rewards World Mastercard®: Best for Earning Travel Rewards
Who Is the Business Advantage Travel Rewards World Mastercard® Best For?
The Business Advantage Travel Rewards World Mastercard® is best for business owners who travel frequently and want to earn rewards toward travel and dining. You can earn 3x points when you book your travel through the Bank of America® Travel Center and enjoy zero foreign transaction fees on purchases made outside of the US.
It’s one of our best business credit cards for travel because it charges no annual fee and comes with a low starting APR of 13.74%. It’s a great option if you prefer to redeem points for travel at the Bank of America Travel Center, as cash back, gift cards, or a statement credit to offset travel and dining-related purchases. It works best if you travel with any airline; however, if you’re a frequent flyer of Alaska Airlines, consider the Alaska Airlines Business Credit Card.
Why We Like the Business Advantage Travel Rewards World Mastercard®
- Sign-up bonus: Earn 30,000 bonus points after spending at least $3,000 in net purchases within 90 days after opening an account. Redeem this for a $300 credit toward travel purchases on your monthly bill.
- Premium travel rewards: Earn 3x points for every dollar spent when you book a rental car, hotel stay, or airfare through the Bank of America® Travel Center.
- Up to 75% more points: Get up to 75% more points if you have a business checking account with Bank of America® and qualify for Preferred Rewards for Business membership.
- 0% introductory APR: Enjoy a 0% introductory APR for the first nine billing cycles after opening an account.
- No annual fee: You can enjoy earning unlimited rewards while minimizing your cost.
- No blackout dates on travel: Redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
What’s Missing From the Business Advantage Travel Rewards World Mastercard®
The Business Advantage Travel Rewards World Mastercard® doesn’t offer premium rewards on non-travel-related purchases—you can only earn 1.5x points on all other purchases. Also, the 0% introductory APR period only applies to purchases and not to balance transfers.
Alaska Airlines Business Credit Card: Best for Frequent Alaska Airlines Flyers
Who Is the Alaska Airlines Business Credit Card Best For?
The Alaska Airlines Business Credit Card is best for business owners who primarily fly with Alaska Airlines. You can earn unlimited 3x miles per dollar on purchases made directly with Alaska Airlines and unlimited 1x miles per dollar on all other purchases. What’s more, you can redeem your miles for flights to over 1,000 destinations with any of its oneworld® Alliance member airlines and global partners.
It’s one of our top-recommended business credit cards for miles, especially if you often travel with companions because you and up to six other travel companions can each check a bag, free of charge. Note that this is the only Bank of America® business credit card that charges an annual fee. If you travel frequently but don’t typically fly with Alaska Airlines, you may benefit more from the Business Advantage Travel Rewards World Mastercard®.
Why We Like the Alaska Airlines Business Credit Card
- Sign-up bonus: Get 40,000 bonus miles and Alaska’s Famous Companion Fare™ offer from $121 when you spend at least $2,000 within 90 days of card ownership.
- Premium rewards: You can earn unlimited 3x miles for every dollar spent directly on Alaska Airlines purchases.
- Annual companion fare: Receive Alaska’s Famous Companion FareTM, which allows you to book a companion flight from just $121 every year on your account anniversary.
- Free checked bag: You and up to six travel companions on the same reservation will receive a free checked bag each per flight. This is equivalent to a savings of $60 per person for a roundtrip flight.
- Special discounts: Enjoy 50% off day passes at the Alaska Lounge and 20% back on all Alaska Airlines inflight purchases when you pay with this card.
- No foreign transaction fee: Use your credit card to make purchases outside the US without having to pay foreign transaction fees.
What’s Missing From the Alaska Airlines Business Credit Card
The Alaska Airlines Business Credit Card lacks the no-annual-fee feature of Bank of America® business credit cards. This is the only Bank of America® business credit card that charges an annual fee. Also, employee cards aren’t free—you need to pay $25 per additional card on top of the $50 annual fee. Furthermore, keep in mind that this card doesn’t offer a 0% introductory APR period and has a high starting APR of 17.49%.
Platinum Plus® Mastercard® Business Card: Best for Low Ongoing APR
Who Is the Platinum Plus® Mastercard® Business Card Best For?
The Platinum Plus® Mastercard® Business Card is ideal for business owners who need to carry a balance and want a low-interest credit card. It offers the lowest ongoing APR among all other Bank of America business credit cards, ranging from 11.74% to 22.74%.
It’s important to note that it doesn’t offer ongoing rewards. If you prefer to earn rewards on your purchases, consider the Business Advantage Customized Cash Rewards or the Business Advantage Travel Rewards World Mastercard®.
Why We Like the Platinum Plus® Mastercard® Business Card
- Sign-up bonus: Get a $300 statement credit after you spend $3,000 within the first 90 days after opening an account.
- Low ongoing APR: Take advantage of a low ongoing APR when you need to carry a balance.
- No annual fee: Use your card, carry a balance and pay a low ongoing APR without having to pay an annual fee.
- 0% Introductory APR: Enjoy interest-free financing for the first seven billing cycles after opening an account.
What’s Missing From the Platinum Plus® Mastercard® Business Card
The Platinum Plus® Mastercard® Business Card doesn’t have ongoing rewards—and this means you won’t earn any cash back or points rewards from your purchases. Moreover, the 0% introductory APR is only for seven months, which is shorter than what most other business credit cards offer.
Business Advantage Unlimited Cash Rewards Secured: Best for Business Owners With Poor Credit
Who Is the Business Advantage Unlimited Cash Rewards Secured Credit Card Best For
The Business Advantage Unlimited Cash Rewards Secured credit card is ideal for business owners with low credit scores and extra cash reserves for a security deposit because it requires a security deposit of at least $1,000. With consistent on-time payments, this card can also help build your credit and improve your credit score.
If you cannot qualify for regular unsecured business credit cards, then this is your best choice. You can earn unlimited 1.5% cash back on all purchases, regardless of spending categories. However, if your credit score is high enough to qualify for unsecured credit cards, you may consider the Business Advantage Unlimited Cash Rewards or Business Advantage Travel Rewards World Mastercard®.
Why We Like the Business Advantage Unlimited Cash Rewards Secured Credit Card
- Business owners with low credit scores can qualify: Just make at least a $1,000 security deposit and enjoy the perks of having a business credit card, including earning rewards and building your credit.
- Strengthen your credit: Use this card responsibly and make consistent on-time payments to improve your credit.
- Unlimited 1.5% cash back: Earn unlimited fixed-rate 1.5% cash back on all purchases without having to keep track of expense categories.
- No annual fee: Minimize your overall credit cost by not paying an annual fee.
- Flexible redemption options: 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.
- Transition to unsecured credit card: Bank of America® will review your account periodically to check if your credit improves. You could easily transition to an unsecured card when your overall credit qualifies.
What’s Missing From the Business Advantage Unlimited Cash Rewards Secured Credit Card
The Business Advantage Unlimited Cash Rewards Secured Credit Card doesn’t offer an interest-free financing option and zero foreign transaction fees. This is something that you need to consider if you plan to make a large purchase or use the card when traveling abroad. It also has the highest ongoing APR of 23.74% among all other business cards on this list. For other options, you can read our guides to the leading secured business credit cards and top business credit cards for bad credit.
What Is the Preferred Rewards for Business?
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.
There are two requirements to become a Preferred Rewards for Business member:
- You should have an active Bank of America business checking account.
- 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.
There are three tiers available: Gold, Platinum, and Platinum Honors. Your tier is based on your eligible combined balances in your Bank of America® business deposit and/or Merrill® business investment accounts.
The minimum qualifying balance requirements are:
- Gold: $20,000 to $49,999
- Platinum: $50,000 to $99,999
- Platinum Honors: $100,000 and more
Additional Rewards for Preferred Rewards for Business Members
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. Gold members can earn an additional 25% rewards, while Platinum members can earn 50% more rewards on all purchases. If you qualify for Platinum Honors, then you can enjoy earning 75% more rewards on all purchases.
Bottom Line
Bank of America offers a variety of business credit cards with sign-up bonuses. The best one for your business will depend on what type of rewards you want to earn, your spending habits, whether you need no-interest financing or a low ongoing APR, or if you have a low credit score. To find other card options, visit our Credit Card Marketplace and check out our guide to the best small business credit cards.
