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  Business Advantage Cash Rewards Credit Card

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Business Advantage Cash Rewards Credit Card Unaffiliated

Business Advantage Cash Rewards Credit Card

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Net Recommendation Score +33  

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +33, equating to 3.7 on a 5 point rating scale.

+33

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

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Purchase APR  (Variable APR) 12.24% - 22.24%
Balance Transfer APR  (Variable APR) 12.24% - 22.24%
Credit Score Range 650 - 850
Annual Fee $0

Business Advantage Cash Rewards Credit Card Review

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

Key Takeaways

  • Business credit card with generous reward rate. You can get a maximum cashback rewards rate of up to 3x.
  • 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases.
  • Signup bonus. Offers a signup bonus of up to $300 if you spend $3000.
  • Competitive APRs. Business Advantage Cash Rewards Credit Card has a variable purchase APR that ranges from 12.24% up to 22.24%.
  • No annual fee*. This is a great option for people looking for a low-maintenance cashback card. It gives you cashback on your eligible purchases, but you don't have to pay an annual fee for the privilege.
  • 4% Balance transfer fee. Business Advantage Cash Rewards 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 rental insurance, emergency support, travel accident insurance, travel assistance, and fraud protection.
  • Fair or better credit required. You will have good approval odds if your credit score is above 650.

Pros & Cons of Bank of America business Advantage Cash Rewards

The Good The Bad
  • Potentially lower than average purchase APRs.
  • 0% APR on new purchases . There is then a variable purchase APR that ranges from 12.24% up to 22.24%.
  • No annual fee.
  • Multiple business credit card perks.
  • Offers auto rental collision damage waiver.
  • Travel accident and travel assistance insurance.
  • Cardholders can earn rewards on purchases everywhere Business Advantage Cash Rewards Credit Card is accepted.
  • Business Advantage Cash Rewards Credit Card reports to multiple credit bureaus.
  • Charges a foreign transaction fee of 3%.
  • Charges a 4% balance transfer fee.

What are the relevant APRs?

This business credit card has a variable purchase APR that ranges from 12.24% up to 22.24%. The card has a variable balance transfer APR that ranges from 12.24% up to 22.24%.

It also has a variable cash advance APR of 24.24%.

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?

No, this business card does not come with an introductory APR offer for balance transfers.

This business card does offer an introductory APR rate on new purchases of 0%

Bank of America business Advantage Cash Rewards Rates & Terms
Purchase APR 12.24% - 22.24%
Balance Transfer APR 12.24% - 22.24%
Cash Advance APR 24.24%
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.
  • A returned payment fee of up to $39.
  • An overlimit fee of $1.

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.

Bank of America business Advantage Cash Rewards Fees
Fees Amount
Annual Fee $0
Foreign Transaction Fee 3%
Balance Transfer Fee 4%
Minimum Balance Transfer Fee $10
Returned Payment Fee $39
Late Payment Fee $19 to $49

Does it offer a cash back or rewards program?

Yes, Bank of America business Advantage Cash Rewards offers a rewards program to its customers. The rewards program allows you to earn 1% cash with every purchase you make. This business card offers rewards to small business owners that use the card to make purchases in the following bonus categories:

  • Advertising Services
  • Internet, Cable and Phone Services
  • Every Purchase
  • Gas stations
  • Office Supply Stores
  • Restaurants

Does it have a sign up bonus?

Yes, it offers card users a signup bonus worth up to $300 after you spend $3000.

Does it offer an annual loyalty bonus?

This business card doesn't offer a cash loyalty bonus.

What are the benefits?

This business credit card provides the following benefits:

  • Auto Rental Collision Damage Waiver
  • Emergency Support
  • Fraud Liability
  • Travel Accident Insurance
  • No blackout dates when redeeming miles
  • Travel Assistance
  • Reports to major credit bureaus

What is the customer service phone number?

The customer service number for this business card is (704) 386-1709.

What is the support contact email?

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

Does Business Advantage Cash Rewards Credit Card report your account activity to credit bureaus?

Yes, Business Advantage Cash Rewards 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.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Bank of America business Advantage Cash Rewards

et a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening. You're in charge of how you earn cash back. Earn 3% cash back on your choice of one of the following six categories: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services. Earn 2% cash back on dining. Earn unlimited 1% cash back on all other purchases.  You'll get 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter. To change your choice category for future purchases, you must go to Mobile Banking App or Business Advantage 360, our small business online banking. You can change it once each calendar month, or make no change and it stays the same. Earn even more cash back, You can earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to 5.25% on your selected choice category, 3.5% on dining, and unlimited 1.75% cash back on all other purchases. Not enrolled? Flexible Redemption Options, Redeem your cash back as a deposit into your Bank of America checking or savings account, as a card statement credit or as a check mailed to you. Cash rewards don't expire. No annual fee. 0% Introductory APR. 0% on purchases for 9 billing cycles from account opening. Manage your business with a suite of online services including automatic payments, transfers and downloading transactions into QuickBooks. Manage your account online 24/7 with secure Online and Mobile Banking. Check your balance and keep tabs on account activity for you and your employees easily anytime, anywhere. Travel services your business needs including $100,000 in travel accident insurance and auto rental insurance, emergency ticket replacement, lost–luggage assistance and the option to get extended protection. Simply tap to pay where you see the Contactless Symbol. You can make purchases quickly, easily and securely at millions of locations.

Contact

Other Services by Bank of America

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Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Washington, DC
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Introductory Rate 0%
Annual Fee $0
Cash Advance Fee (%) Up to 4%
Cash Advance Fee Minimum $10
Foreign Currency Transaction Fee 3%
Late Fee Amount $19 - $49
Minimum Cash Advance Fee ($) Starting at $10
Minimum Interest Charge $1
No Annual Fee
No Interest Grace Period for Late Payment 25 days
Over-Limit Fee $1
Returned Payment Fee $39
Customer Type Business
Minimum Age 18
Credit Score Range 650 - 850
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Credit Card Benefits
  • Auto Rental Collision Damage Waiver
  • Emergency Support
  • Fraud Liability
  • Travel Accident Insurance
  • Travel Assistance
Bonus Rewards Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening.
No Blackout Dates
No Reward Expiration Period
Rewards Rates
  • Travel
  • Advertising Services
  • Internet / Cable / Phone Services
  • Gas
  • Office Supplies
  • Restaurants
  • Every Purchase
Signup Bonus Starting at $300
APR Type Variable APR
Cash Advance APR (Variable APR) 24.24%
Penalty APR (Variable APR) 0%
Purchase APR (Variable APR) 12.24% - 22.24%
Balance Transfer Fee % 4%
Balance Transfer Fee % After Intro Period Starting at 4%
Balance Transfer Fee Minimum $10
Balance Transfer APR (Variable APR) 12.24% - 22.24%
Card Network Mastercard
Card Type
  • Rewards
  • Cashback
  • Zero Percent

Business Advantage Cash Rewards Credit Card Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +33, equating to 3.7 on a 5 point rating scale.

+33

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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