Bank of america business advantage customized cash rewards mastercard credit card

Q: What are the benefits of the Bank of America cash Rewards card?

Bank of America® Customized Cash Rewards Secured credit card. 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs (on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter) and 1% cash back on all other purchases.

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Alternatives to consider
What could be improved
The Bank of America Business Advantage Customized Cash Rewards is right for you if:
What credit score do I need to get a Bank of America business credit card?
What is the credit limit on Bank of America customized cash rewards?
Is Bank of America cash Rewards credit card hard to get?
What are the benefits of the Bank of America cash Rewards card?

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Credit Score:
Excellent (740-850) Info IconCircle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Intro APR

Purchases: 0%, 9 billing cycles

Balance Transfers: N/A

Regular APR

15.24% - 25.24% (Variable)

Rewards Info IconCircle with letter I in it. 3% cash back in the category of your choice and 2% on dining purchases (on the first $50,000 in these combined purchases each calendar year), and unlimited 1% on all other purchases.

1% - 3% cash back

Welcome Offer Info IconCircle with letter I in it. Get a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening.

$300 online statement credit

A no annual fee business card with solid bonus opportunities and a 0% intro APR. Due to the bonus reward limits, it's most useful for businesses with low to moderate monthly spending.
- No annual fee
- High rewards rate
- Intro APR period
- Rotating bonus categories
- Credit worthiness requirements
- Foreign transaction fee
- Get a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening – with no annual fee and cash rewards don't expire.
- Earn 3% cash back in the category of your choice, 2% cash back on dining purchases and unlimited 1% cash back on all other purchases.
- You'll earn 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 15.24% to 25.24% will apply.
- 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.
- 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% in your selected choice category and up to 3.5% on dining purchases on the first $50,000 in those combined purchases each calendar year, and up to an unlimited 1.75% cash back on all other purchases.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.

Top perks

This cash back card has all the most important benefits you'd expect, including a sign-up bonus and bonus cash back opportunities.

$300 online statement credit bonus offer

You can earn a $300 statement credit after you make $3,000 in purchases with this card within the first 90 days. This is one of the easier business card bonuses to get, as it only requires about $1,000 in spending per month. The statement credit is applied directly to your account.

0% intro APR

This card has a 0% intro APR on purchases for the first nine billing cycles, so it's a good choice for business expenses that you'll need some time to pay off. The standard variable APR applies after those nine billing cycles. To avoid interest charges, make sure to pay off your full balance during the intro period.

Up to 3% cash back

This Bank of America business credit card earns:

3% cash back in the category of your choice: gas stations (default), office supply stores, travel, TV/telecom and wireless, computer services, or business consulting services
2% cash back on dining
1% cash back on other purchases

The 2% and 3% rates apply on up to $50,000 in combined choice category and dining purchases per calendar year. After that, you earn 1% back in those categories. The bonus rates are competitive with other top business credit cards that don't charge an annual fee.

Read more: Best Cash Back Business Credit Cards

Bonus rewards for Preferred Rewards clients

One of the more valuable benefits Bank of America offers is its Preferred Rewards program. If you use it for banking or investing and you meet minimum balance requirements, you can get a credit card rewards bonus of 25% to 75%. In the highest tier (which requires $100,000 in qualifying balances), you'd be earning 5.25% cash back in a category of your choice instead of 3%.

Learn more: A Complete Guide to Bank of America Preferred Rewards

Travel protections

This Bank of America credit card includes the following travel protections on eligible purchases:

Travel accident insurance
Auto rental insurance
Emergency ticket replacement
Lost luggage assistance

See more: Best Travel Rewards Credit Cards

Alternatives to consider

If you want a bigger sign-up bonus: The Ink Business Cash® Credit Card starts you off with an impressive $750 in bonus cash back for spending $7,500 in the first three months. It also offers high cash back rates, with bonuses in several different spending categories.

If you want bonus rewards with higher spending caps: The American Express Business Gold Card earns 4 points per $1 in two spending categories where your business spends the most money each billing cycle. Although this card has an expensive annual fee, the bonus rate applies on up to $150,000 in purchases per calendar year.

Read more: Best Rewards Credit Cards

As of Oct. 10, 2022

Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card

Ink Business Cash® Credit Card

American Express Business Gold Card

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4.50 stars

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4.00 stars

Apply Now for Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card

On Bank of America's Secure Website.

Apply Now for Ink Business Cash® Credit Card

On Chase's Secure Website.

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Rates & Fees

Credit Rating Requirement:

Excellent (740-850) Info IconCircle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Credit Rating Requirement:

Good/Excellent (670-850) Info IconCircle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Credit Rating Requirement:

Welcome Offer: Welcome Offer info Get a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening.

$300 online statement credit

Welcome Offer: Welcome Offer info Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening.

Earn $750 bonus cash back

Welcome Offer: Welcome Offer info 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership

70,000 Membership Rewards® points

Rewards Program: Info IconCircle with letter I in it. 3% cash back in the category of your choice and 2% on dining purchases (on the first $50,000 in these combined purchases each calendar year), and unlimited 1% on all other purchases.

1% - 3% cash back

Rewards Program: Info IconCircle with letter I in it. Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.

Earn 5% cash back in select business categories

Rewards Program: Info IconCircle with letter I in it. 4 points per $1 in two categories where you spend most ($150,000 annual spending cap), 1 point per $1 on other purchases

1x - 4x points

Intro APR:

Purchases: 0%, 9 billing cycles

Balance Transfers: N/A

Intro APR:

Purchases: 0% Intro APR on Purchases, 12 months

Balance Transfers: N/A

Intro APR:

Purchases: N/A

Balance Transfers: N/A

Regular APR:

15.24% - 25.24% (Variable)

Regular APR:

15.49% - 21.49% Variable

Regular APR:

16.49% - 24.49%, variable

Annual Fee:

Annual Fee: Annual Fee Tooltip N/A

Annual Fee:

$295

Highlights:

Get a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening – with no annual fee and cash rewards don't expire.
Earn 3% cash back in the category of your choice, 2% cash back on dining purchases and unlimited 1% cash back on all other purchases.
You'll earn 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 15.24% to 25.24% will apply.
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.
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% in your selected choice category and up to 3.5% on dining purchases on the first $50,000 in those combined purchases each calendar year, and up to an unlimited 1.75% cash back on all other purchases.
Contactless Cards - The security of a chip card, with the convenience of a tap.
This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.

Highlights:

Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
No Annual Fee
Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
0% introductory APR for 12 months on purchases

Highlights:

Welcome Offer: Earn 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.
MORE REWARDS: Get 4X Membership Rewards® points on the 2 select categories where your business spent the most each month. 1X is earned for other purchases.
4X points apply to the first $150,000 in combined purchases from these 2 categories each calendar year.
AIRLINE BONUS: Get 25% points back after you use points for all or part of an eligible flight booked with Amex Travel, up to 250,000 points back per calendar year.*
Terms Apply

Apply Now for Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card

On Bank of America's Secure Website.

Apply Now for Ink Business Cash® Credit Card

On Chase's Secure Website.

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What could be improved

There are a few drawbacks you should know about before applying for this business credit card.

Spending cap on bonus rewards

Bonus cash back rates apply on up to $50,000 in purchases per calendar year. For businesses that spend more, that could be an issue. You may be better off reading more credit card reviews and choosing a different business card, possibly even one with an annual fee, if it means that you'll earn more bonus rewards.

Sign-up bonus amount

The statement credit of $300 that this card offers is reasonable and has a fairly low spending requirement. However, there are other business credit cards with much bigger sign-up bonuses. These could provide more total value for businesses that spend more.

Related: Best Sign-Up Bonus Credit Cards

Foreign transaction fee

International transactions carry an additional fee of 3% of the transaction amount in U.S. dollars. If you do any traveling outside of the country, a card with no foreign transaction fee is a must, because those extra charges can add up quickly.

No balance transfer offer

While this Bank of America business card has an intro APR offer, it doesn't have one on balance transfers. A 0% balance transfer APR is useful for paying off credit card debt.

The Bank of America Business Advantage Customized Cash Rewards is right for you if:

What credit score do I need to get a Bank of America business credit card?

Unlike some other small-business credit cards, which accept good credit scores (690 to 719 FICO), Bank of America® business credit cards generally require excellent credit scores (720+) to qualify.

What is the credit limit on Bank of America customized cash rewards?

The credit limit for the Bank of America® Customized Cash Rewards credit card is usually at least $1,000 and can be much higher, with some cardholders reporting limits of over $50,000. Bank of America uses your income, credit profile, and other information to set your card's credit limit.

Is Bank of America cash Rewards credit card hard to get?

The Bank of America Customized Cash Rewards card is as easy to get as most other no annual fee cash back credit cards. You'll just need to provide the typical personal information, Social Security number and total annual income through Bank of America's online application or over the phone by calling (800) 932-2775.

What are the benefits of the Bank of America cash Rewards card?

Bank of America^® Customized Cash Rewards Secured credit card. 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs (on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter) and 1% cash back on all other purchases.