Last Updated: 04/18/2025
Bank of America Platinum Plus® Mastercard® Business Credit Card
Unaffiliated
in Business Credit Cards from Bank of America
Last Updated: 04/18/2025
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Highlights
Purchase APR (Variable APR)
16.49% - 27.49%(Verified 06/21/2024)
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Balance Transfer APR (Variable APR)
16.49% - 27.49%(Verified 08/24/2024)
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Annual Fee
$0
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Credit Score Range
600 - 850
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 Plus® Mastercard® Business Credit Card is the right card for you, read on.
Key Takeaways
- 0% Intro APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for 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 7 months.
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- APRs: Bank of America Platinum Plus® Mastercard® Business Credit Card has a variable regular purchase APR that ranges from 16.49% up to 27.49%.
- 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.$0.00
- A 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 up to 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.
- Poor credit accepted. This card will consider people who have poor credit.
Pros & Cons of Bank of America Platinum business card
| The Good | The Bad |
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What are the relevant APRs?
This business credit card has a variable purchase APR that ranges from 16.49% up to 27.49% . The card has a variable balance transfer APR that ranges from 16.49% up to 27.49% .
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.
Does it have an introductory APR offer?
Yes, this business card offers an introductory APR rate on balance transfers of 0% for a period of 7 months from account opening.
This business card does offer an introductory APR rate on new purchases of 0% for a period of 7 months.
| Purchase APR | 16.49% - 27.49% |
| Balance Transfer APR | 16.49% - 27.49% |
| Cash Advance APR | Starting at 27.24% |
| Penalty APR | 0% |
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 charge a foreign transaction fee?
This business card charges a foreign transaction fee of 3%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $60. If you travel abroad you may want to leave this business card at home and apply for one that doesn't charge a foreign transaction fee.
| Fees | Amount |
| Annual Fee | $0 |
| Foreign Transaction Fee | 3% |
| Balance Transfer Fee | 4% |
| Minimum Balance Transfer Fee | $10 |
| Returned Payment Fee | $0 |
| Late Payment Fee | $19 to $49 |
Does it offer a cash back or rewards program?
No, it does not offer a cash back rewards program.
This business card offers rewards to small business owners that use the card to make purchases in the following bonus categories:
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Welcome Offer | Starting at $300 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Rewards Categories | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Rewards Type | No Rewards | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bonus Offer | Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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