If you have a small business, you could earn cash back or travel rewards from your business purchases with a Bank of America business credit card. Most of Bank of America’s business cards come with a straightforward rewards structure, 0% introductory APR offer and no annual fee, making them a great choice for small business owners looking for a simple rewards structure. Just like Bank of America’s consumer credit cards, most of its business cards also offer boosted rewards and other benefits if you have a business checking account with the bank. However, a banking relationship is not a requirement to apply for a Bank of America credit card.
Read more to learn how you can use a Bank of America business credit card to elevate your small business.
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card
The Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card* -- while a mouthful -- is Bank of America’s staple cash-back business card. While no one element on its own is necessarily the best in class, the combination of benefits together is a good offer for a business card with no annual fee.
You earn 1.5% cash back on everything for no annual fee. Like with some other cards on this list, you can earn a $300 statement credit online bonus after spending $3,000 in the first 90 days. The 0% introductory APR for nine billing cycles on purchases offers you some flexibility to finance some of your business costs without interest, but you’ll have to watch out for the variable APR of 18.49% to 28.49% after the promotion ends.
- Intro Balance Transfer APR
- N/A
- Intro Purchase APR
- 0% for 9 billing cycles for purchases
- Regular APR
- 18.49% – 28.49% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 4% of the amount of each transaction
The Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card* -- while a mouthful -- is Bank of America’s staple cash-back business card. While no one element on its own is necessarily the best in class, the combination of benefits together is a good offer for a business card with no annual fee.
You earn 1.5% cash back on everything for no annual fee. Like with some other cards on this list, you can earn a $300 statement credit online bonus after spending $3,000 in the first 90 days. The 0% introductory APR for nine billing cycles on purchases offers you some flexibility to finance some of your business costs without interest, but you’ll have to watch out for the variable APR of 18.49% to 28.49% after the promotion ends.
- Intro Balance Transfer APR
- N/A
- Intro Purchase APR
- 0% for 9 billing cycles for purchases
- Regular APR
- 18.49% – 28.49% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 4% of the amount of each transaction
Bank of America® Platinum Plus® Mastercard® Business card
The Bank of America® Platinum Plus® Mastercard® Business card* is optimal for businesses who may need a credit card to help them carry over some balances. While that’s not an ideal situation, it can help businesses stay afloat with the proper approach. If you’re carrying a credit card balance, rewards programs don’t make up for the interest charges you incur. The Platinum Plus Business Card doesn’t offer a rewards program, but it does offer a lower APR range of many business credit cards. The APR is variable from 16.49% to 27.49%. While your APR will depend on your business’s creditworthiness, you have the potential to lower your interest charges with this card.
The 0% introductory APR on purchases for seven billing cycles (16.49% to 27.49% variable APR thereafter) may be able to help bridge any financial gaps you have in the short-term without any interest at all, if you use the card properly. Earning the welcome bonus can also give you a leg up.
- Intro Balance Transfer APR
- N/A
- Intro Purchase APR
- 0% for 7 billing cycles for purchases
- Regular APR
- 16.49% – 27.49% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 4% of the amount of each transaction
The Bank of America® Platinum Plus® Mastercard® Business card* is optimal for businesses who may need a credit card to help them carry over some balances. While that’s not an ideal situation, it can help businesses stay afloat with the proper approach. If you’re carrying a credit card balance, rewards programs don’t make up for the interest charges you incur. The Platinum Plus Business Card doesn’t offer a rewards program, but it does offer a lower APR range of many business credit cards. The APR is variable from 16.49% to 27.49%. While your APR will depend on your business’s creditworthiness, you have the potential to lower your interest charges with this card.
The 0% introductory APR on purchases for seven billing cycles (16.49% to 27.49% variable APR thereafter) may be able to help bridge any financial gaps you have in the short-term without any interest at all, if you use the card properly. Earning the welcome bonus can also give you a leg up.
- Intro Balance Transfer APR
- N/A
- Intro Purchase APR
- 0% for 7 billing cycles for purchases
- Regular APR
- 16.49% – 27.49% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 4% of the amount of each transaction
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
Bank of America offers a pretty decent business travel card, though it doesn’t offer any general business perks. With the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card*, you’ll get a flat rewards rate of 1.5 points on your purchases, and double that for booking flights, hotels or car rentals through Bank of America® Travel Center. Besides there being no annual fee, there are also no foreign transaction fees, so you can use this card just as effectively for international business travel as domestic.
Points -- whether earned via the welcome bonus or the rewards program -- are worth 1 cent each when redeemed for statement credits for travel or dining purchases. You’ll also be able to take advantage of the introductory APR on purchases if you need to finance any large purchases.
- Intro Balance Transfer APR
- N/A
- Intro Purchase APR
- 0% for 9 billing cycles for purchases
- Regular APR
- 18.49% – 28.49% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 4% of the amount of each transaction
Bank of America offers a pretty decent business travel card, though it doesn’t offer any general business perks. With the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card*, you’ll get a flat rewards rate of 1.5 points on your purchases, and double that for booking flights, hotels or car rentals through Bank of America® Travel Center. Besides there being no annual fee, there are also no foreign transaction fees, so you can use this card just as effectively for international business travel as domestic.
Points -- whether earned via the welcome bonus or the rewards program -- are worth 1 cent each when redeemed for statement credits for travel or dining purchases. You’ll also be able to take advantage of the introductory APR on purchases if you need to finance any large purchases.
- Intro Balance Transfer APR
- N/A
- Intro Purchase APR
- 0% for 9 billing cycles for purchases
- Regular APR
- 18.49% – 28.49% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 4% of the amount of each transaction
Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card
The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card* offers a solid cash-back rewards program for most businesses because you can adjust the flagship rewards rate to the spending category of your choice. While gas stations and EV charging stations is the default category, you can also choose to earn 3% cash back at office supply stores, on travel, on TV or telecom and wireless services, computer services or business consulting services. You can earn these rewards for up to a combined $50,000 in spending each calendar year between the 3% category and the 2% cash back on dining. After that, and for any purchases that don’t fit in the specific rewards category, you’ll earn 1%.
- Intro Balance Transfer APR
- N/A
- Intro Purchase APR
- 0% for 9 billing cycles for purchases
- Regular APR
- 18.49% – 28.49% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 4% of the amount of each transaction
The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card* offers a solid cash-back rewards program for most businesses because you can adjust the flagship rewards rate to the spending category of your choice. While gas stations and EV charging stations is the default category, you can also choose to earn 3% cash back at office supply stores, on travel, on TV or telecom and wireless services, computer services or business consulting services. You can earn these rewards for up to a combined $50,000 in spending each calendar year between the 3% category and the 2% cash back on dining. After that, and for any purchases that don’t fit in the specific rewards category, you’ll earn 1%.
- Intro Balance Transfer APR
- N/A
- Intro Purchase APR
- 0% for 9 billing cycles for purchases
- Regular APR
- 18.49% – 28.49% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 4% of the amount of each transaction
Alaska Airlines Visa® Business card
Besides the rewards on Alaska Airlines flights, the Alaska Airlines Visa® Business Card* offers a valuable welcome bonus. You can get 50,000 bonus miles plus Alaska’s Famous Companion Fare™ from $122 ($99 fare plus taxes and fees from $23) when you spend $3,000 in purchases in the first 90 days. The Companion Fare allows you to book another passenger on your flight for the reduced fee on any Alaska Airlines flight booked through alaskaair.com, and you’ll also get one of the same value in the form of an Annual Companion Fare for your account anniversary each year.
Otherwise, you can take advantage of the rewards program -- which is probably only worthwhile for booking your Alaska Airlines flights -- and the free checked bag for you and up to six passengers on your reservation. This is the only Bank of America business credit card with an annual fee, though it’s quite low for airline credit cards: $70 per business per year plus $25 for each employee card.
- Intro Balance Transfer APR
- N/A
- Intro Purchase APR
- N/A
- Regular APR
- 21.24% – 29.24% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 4% of the amount of each transaction
Besides the rewards on Alaska Airlines flights, the Alaska Airlines Visa® Business Card* offers a valuable welcome bonus. You can get 50,000 bonus miles plus Alaska’s Famous Companion Fare™ from $122 ($99 fare plus taxes and fees from $23) when you spend $3,000 in purchases in the first 90 days. The Companion Fare allows you to book another passenger on your flight for the reduced fee on any Alaska Airlines flight booked through alaskaair.com, and you’ll also get one of the same value in the form of an Annual Companion Fare for your account anniversary each year.
Otherwise, you can take advantage of the rewards program -- which is probably only worthwhile for booking your Alaska Airlines flights -- and the free checked bag for you and up to six passengers on your reservation. This is the only Bank of America business credit card with an annual fee, though it’s quite low for airline credit cards: $70 per business per year plus $25 for each employee card.
- Intro Balance Transfer APR
- N/A
- Intro Purchase APR
- N/A
- Regular APR
- 21.24% – 29.24% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 4% of the amount of each transaction
Advantages of a Bank of America business card
Bank of America’s business credit cards offer a way to earn even higher rewards for your expenses through its Preferred Rewards for Business program. Many of its business cards don’t ask for an annual fee, which makes them better suited for small businesses.
The Preferred Rewards program provides different perks such as higher annual percentage yields on Bank of America savings accounts and higher rewards on credit cards. You advance through the program tiers depending on the balance of your Bank of America bank account, Merrill Investment account or both.
Who can get a business card?
Any business owner -- including gig workers and self-employed people -- can qualify for a business card. You don’t even need employees to qualify. From Uber drivers to CEOs, credit card issuers will check your personal credit score and history when you apply.
How to choose the right Bank of America business card
Know your business needs. If you travel often, consider a travel card such as the Business Advantage Travel Rewards card. If you’re looking to earn a return on general expenses, there’s the Business Advantage Unlimited Cash Rewards card.
If you fear you might get behind on payments, look for a lower regular APR or a 0% introductory APR offer in case you need to revolve a balance from month to month. Once you match a Bank of America card to your needs, make sure you have the right credit profile to qualify.
Bank of America vs. other business card issuers
American Express, Chase and Capital One also issue business cards. Bank of America offers fewer options than most of these issuers.
American Express business cards span travel and rewards. They often require good credit but also offer strong benefits. Annual fees range from $0 to $695.
Chase business cards also cater to both business travelers and those looking to earn general rewards. The Ink Business Preferred® Credit Card offers advantageous redemption rates including bonuses for redeeming for travel through Chase Travel℠ and 1:1 point transfer rates to its travel partners.
Capital One business cards also offer cash back or miles for business expenses at various annual fee levels -- but none of the cards charge foreign transaction fees, making them ideal for international travel. Most Capital One business cards require good to excellent credit.
Each credit card issuer has its advantages and disadvantages. In the end it’ll come down to what your business needs and spending patterns are.
How to apply for a Bank of America business card
You’ll need to have a legally registered business to apply for a business credit card, whether it be a corporation (including LLCs), a partnership or a sole proprietorship. Applications will typically ask for business information such as address, years in business, its structure, revenue as well as your personal information.
FAQs
Business credit cards offer perks, rewards and tools focused on business needs. They include benefits like spend management tools, free employee cards and rewards for business spending. They also have different application requirements.
Personal cards offer rewards for everyday spending for the average person. Perks and rewards tend to lean toward groceries, gas and other everyday essentials.
An excellent credit score -- at least 800 -- and reasonably healthy business financials are typically required for approval.
You’ll have to check the details of your specific business card’s offer to see what the cap is on employee cards. Many business credit cards offer up to 100 employees on the same account. Some credit cards might charge a fee for additional employees, some may not.
*All information about the Bank of America Business Advantage Unlimited Cash Rewards Mastercard credit card, Bank of America Platinum Plus Mastercard Business card, Bank of America Business Advantage Travel Rewards World Mastercard credit card, Bank of America Business Advantage Customized Cash Rewards Mastercard credit card, and the Alaska Airlines Visa Business Card has been collected independently by CNET and has not been reviewed by the issuer.
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