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Bank of America® Business Advantage Cash Rewards Mastercard®

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Bank of America clients searching for a basic method to win money back on business buys can utilize the Bank of America® Business Advantage Cash Rewards Mastercard® to receive benefits on gas, office supplies, dining costs, and even specialty operational expense classifications like remote administrations and business counseling administrations.

Bank of America has as of late become well known as one of the main backers to offer “pick your own classification” rewards structures. Bank of America® Business Advantage Cash Rewards Mastercard® Mastercard holders will win 3% money back in your preferred class from the accompanying six classifications:

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

Best business card for cash back

    • Annual Fee:
      $0
    • Purchase Intro APR:
      0% for 9 billing cycles
    • Regular APR:
      14.49% – 24.49% Variable APR on purchases and balance transfers

Review

Bank of America has as of late become famous as one of the main backers to offer “pick your own classification” rewards structures. Bank of America® Business Advantage Cash Rewards Mastercard® charge card holders will acquire 3% money back in your preferred class from the accompanying six classifications:

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

You’ll additionally acquire 2% money back on eating, however all reward classification winning tops in the wake of burning through $50,000 in those classifications each schedule year (you win 1% on every single other buy). With no yearly charge and a 0% offer on buys for 9 charging cycles (after which variable APR of 14.49% – 24.49% applies), it is anything but an awful decision in case you’re searching for effortlessness.

Individuals from Bank of America’s Preferred Rewards for Business program can get an extra 25%-75% prizes reward on most buys, which can without much of a stretch signify a sizeable reward consistently. Favored Rewards for Business individuals additionally approach a couple of additional advantages from Bank of America.

You don’t must have a formal business to have the option to receive the benefits of this card (or any business card so far as that is concerned), either. Specialists, advisors or online venders can likewise meet all requirements for a business Visa, which causes you keep your business and individual costs discrete.

The Business Advantage Cash Rewards card has a strong sign-up reward, enabling you to acquire a $300 explanation credit in the wake of burning through $3,000 inside the initial 90 days of opening your card.

Maybe the greatest burden to this card is the absence of reclamation adaptability. You can recover your money back simply after you collect $25 in remunerations, and your solitary alternatives are an announcement credit or an immediate store into a Bank of America® private venture checking or investment account. The top on how much 3% and 2% money back you can acquire is likewise a drawback to the card.

This card certainly isn’t as worthwhile as a portion of the other money back business cards available, however it has a standout amongst other money back remunerations rates for gas buys and office supplies. On the off chance that those are the two classifications your independent venture spends the most in every year, this is certainly a card worth considering.

Who should get this card

Entrepreneurs who spend the most on gas and additionally office supplies will appreciate the high rewards rate in those classes. This card gives a straightforward method to gain money back to bring down your month to month costs.

This card is additionally a pleasant choice on the off chance that you as of now use Bank of America charge cards or independent company checking or investment accounts. With direct store alternatives accessible for money back remunerations and joining with Bank of America’s versatile banking application, existing BofA clients may appreciate the straightforwardness of having the majority of their business accounts at a similar bank.

Advantages

  • The “choose your bonus category” rewards structure is relatively rare, providing cardholders with an added layer of customization.
  • $300 statement credit after spending $3,000 within the first 90 days.
  • No annual fee

Disadvantages

  • Inflexible redemption options for rewards.
  • $50,000 cap for each calendar year on combined 3% and 2% cash back categories (earn 1% cash back after).

Fees and APR

  • Enjoy a 0% introductory APR for nine billing cycles on purchases, after that a variable 14.49% – 24.49% APR will apply.
  • Pay no annual fee.
  • There’s a balance transfer fee of $10 or 4% of the amount of each transaction, whichever is greater.
  • This card has a 3% foreign transaction fee on purchases made outside the U.S.
  • Late payment is $19 if balance less than or equal to $100; $29 if $100.01 – $1,000; $39 if $1,000.01 – $5,000; $49 if greater than $5,000

Extras, perks and using rewards

You can start redeeming your cash back after earning at least $25 in rewards. You can redeem your rewards as a statement credit or a deposit in your Bank of America checking or savings account.

Additional employee cards are free.

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