Bank of America Platinum Plus® Mastercard® Business Credit Card

Bank of America Platinum Plus® Mastercard® Business Credit Card Review

This is a card issued by Bank of America. If you're wondering whether Bank of America Platinum business card is the right card for you, read on.

Key Takeaways

• 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 7 months , which is shorter than the average 0% APR period of 12 months.
• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 7 months.
• Signup bonus. Offers a signup bonus of up to $300 if you spend $3000.
• Competitive APRs. Bank of America Platinum Plus® Mastercard® Business Credit Card has a variable purchase APR that ranges from 13.24% up to 24.24%.
• No annual fee*. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don't have to pay an annual fee for the privilege.
• 4% Balance transfer fee. Bank of America Platinum Plus® Mastercard® Business Credit Card charges a fee of 4% on balance transfers. For example, a balance of $1,000 could cost $40 in transfer fees. The minimum fee is $10.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
• Multiple business credit card benefits. Includes generous credit card perks, such as Auto Rental Collision Damage Waiver, emergency support, extended warranty protection on purchases, travel accident insurance, travel assistance, trip cancellation and interruption protection, and fraud protection.
• Fair or better credit required. You will have good approval odds if your credit score is above 600.

Pros & Cons of Bank of America Platinum business card

What are the relevant APRs?

This business credit card has a variable purchase APR that ranges from 13.24% up to 24.24%. The card has a variable balance transfer APR that ranges from 13.24% up to 24.24%.

It also has a variable cash advance APR starting at 27.24% .

The good news is this business card does not charge a penalty APR if you are late on a payment.

What fees does it charge?

The following fees apply to this business credit card:

• There is no annual fee.
• A late payment penalty of up to $49.
• Bank of America Platinum business card does not charge a returned payment fee.

Does it offer a cash back or rewards program?

No, it does not offer a cash back rewards program.

What are the benefits?

This business credit card provides the following benefits:

• Free Credit Score
• Auto Rental Collision Damage Waiver
• Emergency Support
• Extended Warranty Protection
• Trip Cancellation Insurance
• Fraud Liability
• Travel Accident Insurance
• Travel Assistance
• Reports to major credit bureaus

What is the customer service phone number?

The customer service number for this business card is (800) 932-2775.

What is the support contact email?

The support contact email for this business credit card is customerservicealert@bankofamerica.com.

Does Bank of America Platinum Plus® Mastercard® Business Credit Card report your account activity to credit bureaus?

Yes, Bank of America Platinum Plus® Mastercard® Business Credit Card reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply?

• Visit the Bank of America .
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, annual income, and source of employment.
• Check the information is accurate and submit your application.
• If you're denied click here to find out why your application may have been rejected and what you can do about it.