Bank of America business credit cards

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In a Nutshell

There are three Bank of America business credit cards, and each one comes with different benefits. One card caters to business travelers, while another offers flexible cash back. The third card doesn’t come with many rewards, but it offers a low purchase APR — if you can qualify for it — that some business owners may appreciate.
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These offers are no longer available on our site: Bank of America® Business Advantage Cash Rewards Mastercard® credit card, Bank of America® Business Advantage Travel Rewards World Mastercard® credit card, Capital One® Spark® Cash for Business, Ink Business Preferred® Credit Card

Compare Bank of America business credit cards

  Bank of America® Business Advantage Cash Rewards Mastercard® credit card Bank of America® Business Advantage Travel Rewards World Mastercard® credit card Bank of America® Platinum Plus® Mastercard® Business card
Annual fee $0 $0 $0
Intro purchase APR offer 0% intro APR on purchases for the first nine billing cycles 0% intro APR on purchases for the first nine billing cycles 0% intro APR on purchases for the first seven billing cycles
Regular variable purchase APR 12.24% – 22.24% 12.24% – 22.24% 10.24% – 21.24%
Sign-up bonus $300 statement credit after making $3,000 in net purchases within 90 days of account opening 30,000 bonus points after making $3,000 in net purchases within 90 days of account opening $300 statement credit after making $3,000 in net purchases within 90 days of account opening
Ongoing rewards 3% cash back in the category of your choice, 2% cash back on dining, and an unlimited 1% cash back on all other purchases 1.5 points per $1 spent on all purchases and 3 points per $1 spent on eligible travel purchases booked through the Bank of America Travel Center None
Foreign transaction fee 3% $0 3%

There are three Bank of America credit cards designed with small-business owners in mind. At first glance, the cards may look similar — but each one comes with very different benefits. We’ll walk you through the benefits each card offers so you can choose the one that works best for you and your business.



What you need to know about each card

Because these cards offer different benefits, consider each one before making your choice.

Bank of America® Business Advantage Cash Rewards Mastercard® credit card

The Bank of America® Business Advantage Cash Rewards Mastercard® credit card offers the highest ongoing rewards of the three — if your spending lines up with its bonus categories.

With the card’s ongoing rewards program, you’ll earn 3% cash back on purchases in a category of your choice. You can select one of six categories and even change your selection monthly.

Here are the categories you can pick from.

  • Gas stations
  • Office supply stores
  • Travel
  • TV/telecom and wireless services
  • Computer services
  • Business consulting services

You’ll also earn 2% cash back on eligible dining purchases and 1% cash back on all other purchases.

These cash back rates are great for a card with no annual fee, but there’s a cap. Once you’ve spent $50,000 per calendar year on combined purchases within the 3% and 2% cash back categories, any additional spending in those categories will earn you 1% cash back.

Bank of America® Business Advantage Cash Rewards Mastercard® credit card holders are eligible for the Preferred Rewards for Business program, which offers even more cash back rewards. Gold tier members get a 25% reward bonus, Platinum members receive a 50% bonus and Platinum Honors members receive a 75% bonus. In order to qualify for the program with this card, you must have a business banking relationship with Bank of America or Merrill and maintain a certain balance in your business accounts.

Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is designed for the business owner on the road. It comes with a good rewards program for travel and the option to earn even more points when you book travel through the bank’s travel center.

  • Earn 1.5 points for every $1 spent on purchases.
  • Earn three points for every $1 spent on eligible travel purchases booked through the Bank of America Travel Center.
  • You can redeem points for a statement credit to offset dining and travel purchases, travel, cash or gift cards.
  • Points redeemed for travel credits are worth $0.01 each — so 25,000 points equals $250 in travel credits.
  • You can redeem points for cash at a lower rate of $0.006 — so 25,000 points equals $150 in cash.

And if you travel overseas for business, you can take this card internationally without worrying — the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card charges a $0 foreign transaction fee.

Just like with the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card, you could earn a 25% to 75% bonus on earned points through the Preferred Rewards for Business program, depending on whether you’re a Gold, Platinum or Platinum Honors tier member.

Bank of America® Platinum Plus® Mastercard® Business card

The Bank of America® Platinum Plus® Mastercard® Business card doesn’t have an ongoing rewards program. But it does offer new cardholders a $300 statement credit after making at least $3,000 in net purchases on the card within the first 90 days of account opening.

It also comes with the lowest regular purchase APR out of the three. So if a business owner qualifies for the lowest rate, it could be helpful if they need to carry a balance from month to month.

This card offers a 0% intro purchase APR for the first seven billing cycles, which could help your business with startup costs. After the intro period ends, the card has a variable purchase APR of 10.24% to 21.24% based on your credit profile. Note that the other two Bank of America business credit cards have slightly longer intro purchase APR offers.

Without any rewards program, the Bank of America® Platinum Plus® Mastercard® Business card lags behind the others in this category. If your business has recurring regular expenses, you could be missing out on earning valuable rewards each month.


How to pick the right card for you

If you’re on the road a lot and the majority of your spending comes from travel, the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is a good option. With a rewards rate of 1.5 points per $1 spent on all purchases and three points per $1 spent on eligible travel purchases booked through the Bank of America Travel Center, travel rewards can stack up quickly. But using the rewards on this card for purchases other than travel doesn’t offer the best benefits.

If you spend less on travel and more across a range of categories, the Bank of America® Business Advantage Cash Rewards Mastercard® credit card offers the most flexible rewards program of the three. With 3% cash back in the category of your choice, 2% cash back on dining (for the first $50,000 in combined choice category/dining purchases each calendar year, then 1%), and an unlimited 1% cash back on all other purchases, you may be able to earn cash back quickly.

Plus, the flexibility of redemption options makes it easy to redeem the rewards you rack up.

Both of these cards become even more valuable if you’re a member of the Preferred Rewards for Business program. Overall, both cards are solid picks for small-business owners.

But the Bank of America® Platinum Plus® Mastercard® Business card lags behind the other two cards. Without an ongoing rewards program, you could potentially be losing out on valuable cash back or travel rewards. You might be better off choosing a credit card that offers rewards for what you regularly spend your money on.

Not sure any of these cards are for you? Consider these alternatives.

If none of these credit cards are right for you, consider one of these business cards instead.


About the author: Erica Gellerman is a personal finance writer with an MBA in marketing and strategy from Duke University. She’s also the founder of The Worth Project: a weekly money newsletter you actually want to read. Her work has b… Read more.