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Preferred Rewards for Business members can earn up to 75% more than the standard cashback rate of 1.5%. Those who don’t qualify will get an OK (but not the best) cashback rate.
About the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card
On the surface, the Bank of America Business Advantage Unlimited Cash Rewards Mastercard® credit card looks like a normal cash-back credit card. Most business owners will get 1.5% cash back and get a $300 credit statement online bonus after spending $3,000 in the first 90 days, plus an introductory APR on purchases over nine billing cycles.
But if your business has a lot of cash with Bank of America or invests with Merrill, you can earn up to 2.62% on every purchase you make, a level you’ll have a hard time beating with any other card. Even if you don’t qualify for the Preferred Rewards for Business program, the card’s lack of an annual fee and fixed reward rate on each purchase can appeal to cost-averse business owners who prefer simplicity.
Bank of America® Business Advantage Unlimited Cash Giveaways Mastercard credit card basics
- Annual fee: $0.
- Welcome bonuses: $300 credit after you spend $3000 in the first 90 days.
- Present: Get 1.5% cash back on every purchase; earn 25% to 75% more cash back if you are a Preferred Rewards for Business member.
- April Introduction: 0% APR on purchases during the first nine billing cycles.
- April regular: Variable 16.74% to 26.74%.
- Other privileges and benefits: Free cash flow management tools and business credit score access.
- Does the publisher offer pre-approval tools? NO.
- Recommended credit score: Very good.
Bank of America® Business Advantage Unlimited Cash Prizes, Mastercard credit, more details
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard credit card rewards
This card offers a fixed 1.5% cash back on every purchase you make. You can find other cashback business credit cards that offer more, but if you’re a Bank of America Preferred Rewards for Business member, you can get 25% to 75% more cashback, giving you back as much as 2.62% all together.
To qualify for this program, you must have an active and qualifying Bank of America business checking account and a three-month combined average daily balance of at least $20,000 in a qualifying Bank of America business deposit account and/or Merrill® business investment account. . To get the maximum 75% bonus, the threshold is $100,000.
As a new cardholder, you’ll receive $300 in credit when you spend $3,000 in the first 90 days after opening an account. It’s not the best welcome bonus among cash-back business credit cards, but it’s decent.
When you’re ready to redeem your prize, you can request a deposit into a Bank of America checking or savings account, a credit statement on your card or a paper check.
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard credit card reward potential
The amount you can get with the card will depend on the amount you spend. Fortunately, the calculation is relatively simple because the rate of return is fixed.
For example, if you spend $3,000 per month, you will receive $45 per month in cash back, for a total of $540 per year. But if you qualify for the 2.62% reward rate, your haul jumps to $78.60 per month and $943.20 per year.
Bank of America® Business Advantage Unlimited Cash Prizes Mastercard APR credit card
When you open an account, Bank of America will give you an introductory 0% APR on purchases for the first 9 billing cycles for purchases, followed by a variable APR of 16.74% – 26.74% for purchases and balance transfers. A balance transfer fee of $10 or 4% of the amount of each transaction applies, whichever is greater.
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard credit card pro
- Offers impressive rewards for select cardholders: If your business qualifies for the Preferred Rewards for Business program, it’s almost impossible for you to find another rewards credit card that consistently offers higher rewards on every purchase.
- Introductory APR for purchases: It is much less common for business credit cards to offer a 0% APR promotion than personal credit cards, so if your business needs them for large purchases or short-term cash flow management, this card may be of value to you.
- Access business credit score: Your business credit score helps determine your eligibility for financing options when you need them. With this card, you will get free access to your Dun & Bradstreet business credit score.
Bank of America® Business Advantage Unlimited Cash Prizes Mastercard credit card cons
- No bonus prize category: If your business is spending a lot of money in a certain category, like office supplies, gas, restaurants, or more, you may be able to earn even more cash back, points, or miles with a card that offers bonus rewards for those transactions.
- Need very good credit: You can be approved for many of the best business credit cards on the market with good credit, but this one requires very good credit. If your score isn’t in the mid to 700s, you may have a hard time getting approval.
How does the Bank of America® Business Advantage Unlimited Cash Rewards credit card compare to other cards
Bank of America® Business Advantage Unlimited Cash Rewards credit card Mastercard vs. American Express Blue Business Cash™ card
The American Express Blue Business Cash™ card offers a flat 2% cashback on the first $50,000 you spend each calendar year, after which you get 1% back. As a new cardholder, you’ll also get $250 in credit when spending $3,000 in the first three months, plus a 0% intro APR on purchases for 12 months from the date of account opening, then a variable 17.74% – 25.74% APR applies. The card does not charge an annual fee. The biggest drawback is that prizes are redeemed automatically as monthly statement credits, with no other redemption options.
Bank of America® Business Advantage Unlimited Cash Credit Card Mastercard vs. Ink Business Unlimited® Credit Card
If you want a bigger welcome bonus, Ink Business Unlimited offers a staggering $900 when you spend $6,000 in the first three months of account opening. The card also offers a flat 1.5% cash back on every purchase, as well as an introductory 0% APR on purchases for 12 months. After that the APR variable ranged from 17.74% to 23.74%. The card has a $0 annual fee and offers a variety of redemption options.
Bank of America® Business Advantage Unlimited Cash Rewards credit card Mastercard vs. Bank of America® Business Advantage Cash Rewards Mastercard® credit card only
With a Bank of America® Business Advantage Special Cash Credit card, you will get 3% cash back on your selected category from a list of options: gas stations, office supply stores, travel, TV/telecommunications & wireless, computer services or business consulting services . You’ll also get 2% back on meals and 1% back on everything else. You can earn up to 75% more cash back as a Preferred Rewards for Business member. Keep in mind that the 3% and 2% reward rates are capped at $50,000 in combined purchases each calendar year. As a new cardholder, you’ll get a $300 statement credit when you spend $3,000 in the first 90 days, plus an introductory 0% APR for nine billing cycles on purchases, a variable APR of 16.49% – 26.49% thereafter for purchases and balance transfers. A balance transfer fee of $10 or 4% of the amount of each transaction applies, whichever is greater.
Should you get a Mastercard Bank of America® Business Advantage Unlimited Cash Rewards credit card?
The Mastercard Bank of America® Business Advantage Unlimited Cash Rewards credit card can be a perfect fit for your business if you participate in the Preferred Rewards for Business program offered by the card issuer. If you are not a Bank of America® customer, or if you want a card with a higher reward rate, a larger welcome bonus, or a tiered rewards program, take your time to look around and compare the other options before making a decision.
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard credit card summary
Frequently Asked Questions (FAQ)
The card requires very good credit, but Bank of America does not specify a minimum credit score. In general, you probably have a good chance of approval if your FICO score is in the mid to high 700s.
Yes, you can add employee cards to your account and monitor account activity for each card via your online account.
No, the cards are made of plastic.
