Editor’s note: This is a recurring post with regularly updated card details.
Bank of America has four business credit cards, all of which come with no annual fees and a 0% annual percentage rate (APR) period. You can choose from earning cash back or travel rewards or taking advantage of a low ongoing APR. The Bank of America business credit cards that offer rewards are best for business owners with existing deposit accounts with Bank of America—you can earn up to 75% more rewards when you qualify for Preferred Rewards for Business. Note that you need an excellent credit score to qualify.
Here are the four best Bank of America business credit cards for 2023:
Bank of America Business Credit Cards of 2023 at a Glance
One of the advantages of Bank of America business credit cards is that they come with fewer fees than other small business credit cards. Bank of America offers cards with no annual fee and interest-free financing, and you can choose to earn rewards in the form of cash back or travel points. The best Bank of America credit card will depend on your business’ rewards preference and spending habits.
Here are a few important factors to consider when deciding which is right for your business.
1. Preferred Rewards
Bank of America has business credit cards that offer either cash back or travel rewards. If you want to earn cash back, your options are the Business Advantage Customized Cash Rewards and Business Advantage Unlimited Cash Rewards. If you want to earn travel rewards, consider the Business Advantage Travel Rewards World Mastercard®.
It’s also worth noting that the Platinum Plus® Mastercard® Business Card lacks ongoing rewards, but it offers automatic rebates from selected merchants through Mastercard Easy Saving®. You can check our guide to the best cash back business credit cards for other options.
2. Spending Habits
Another factor that will determine the best Bank of America business credit card for you is your business’ spending habits. If you have significant expenses in a particular category, the best card for your business will depend on where the business spends the most. You can choose from either the Business Advantage Travel Rewards World Mastercard® and Business Advantage Customized Cash Rewards. The Business Advantage Unlimited Cash Rewards card offers fixed-rate rewards, which are great if you don’t want to monitor your expense categories.
3. Ongoing APRs
If you need to carry a balance from time to time, it’s better to consider a credit card that has a low ongoing APR. Among the cards listed here, the Platinum Plus® Mastercard® Business Card has the lowest starting APR. However, it’s important to note that aside from rebates from selected merchants, it does not offer ongoing rewards.
4. Bank of America Deposit Account
If you have an existing business checking account with Bank of America, you can get up to 75% more rewards on all purchases when you qualify for the Preferred Rewards for Business with the Business Advantage Customized Cash Rewards, Business Advantage Unlimited Cash Rewards, and Business Advantage Travel Rewards World Mastercard®.
To see how these cards stack up against others we reviewed on our site, click Add to Compare on a card below and select up to two additional cards for comparison.
Business Advantage Customized Cash Rewards: Best for Earning Cash Back in the Category of Your Choice
Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card
Those who want to earn 3% cash back in a spending category of your choice
0%
9 billing cycles
18.49% – 28.49% Variable APR on purchases
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Earn 3% cash back in the category of your choice: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining purchases and 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.
- 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% cash back in your selected choice category and up to 3.5% cash back 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.
- No annual fee
- Choose how to redeem your cash rewards-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.
- To change your choice category for future purchases, you must go to the 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.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that’s currently 18.49% to 28.49% will apply.
- 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.
Pros
- Offers flexible redemption options
- Doesn’t charge annual fees
- With sign-up bonus
Cons
- Premium cash back rewards are capped on a selected spending category
- Charges foreign transaction fees
- Short introductory APR period
- Access to a business credit score: Bank of America lets you view and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Zero liability protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
- Fraud monitoring: Bank of America will block potential fraud if it detects abnormal patterns in your transactions. It’ll also notify you if it suspects any fraudulent activity.
0%
9 billing cycles
18.49% – 28.49% Variable APR on purchases
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Earn 3% cash back in the category of your choice: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining purchases and 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.
- 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% cash back in your selected choice category and up to 3.5% cash back 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.
- No annual fee
- Choose how to redeem your cash rewards-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.
- To change your choice category for future purchases, you must go to the 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.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that’s currently 18.49% to 28.49% will apply.
- 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.
Pros
- Offers flexible redemption options
- Doesn’t charge annual fees
- With sign-up bonus
Cons
- Premium cash back rewards are capped on a selected spending category
- Charges foreign transaction fees
- Short introductory APR period
- Access to a business credit score: Bank of America lets you view and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Zero liability protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
- Fraud monitoring: Bank of America will block potential fraud if it detects abnormal patterns in your transactions. It’ll also notify you if it suspects any fraudulent activity.
This card, one of our best small business credit cards, is ideal for business owners with expenses in different categories. You can earn
- 3% cash back rewards on your chosen spending category—such as gas stations, office supply stores, travel, telecom services, computer services, and business consulting
- 2% cash back on dining purchases
- 1% cash back on all other purchases
It is also an excellent option if you have a Bank of America business checking account and become a Preferred Rewards for Business member—this is because you can earn up to 75% more cash back on every purchase. Redeem your cash back as a deposit to your Bank of America® checking or savings account, as a card statement credit, or as a check by mail.
Interested in opening a checking account? Read our review of Bank of America’s business checking to learn about the two accounts and their benefits.
- Sign-up bonus: Get a $300 statement credit after spending at least $3,000 in net purchases within 90 days after opening an account.
- No annual fee: Minimize your overall credit cost by not having to pay annual fees.
- 0% introductory APR: Take advantage of interest-free financing for the first nine billing cycles after opening an account.
Important Considerations:
- The 3% and 2% cash back only apply on the first $50,000 in combined purchases each calendar year. When the cap is met, you’ll earn 1%.
- It charges foreign transaction fees.
- The 0% APR period does not apply to balance transfers.
If you want to earn fixed-rate rewards, consider the Business Advantage Unlimited Cash Rewards.
Business Advantage Unlimited Cash Rewards: Best For Unlimited, Fixed-rate Cash Back
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card
Those with an existing business checking account with Bank of America
0%
9 billing cycles
18.49% – 28.49% Variable APR on purchases
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Earn unlimited 1.5% cash back on all purchases.
- No annual cap and cash rewards don’t expire.
- No annual fee.
- 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 an unlimited 2.62% cash back on all purchases.
- Choose how to redeem your cash rewards – as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that’s currently 18.49% to 28.49% will apply.
- 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.
Pros
- Doesn’t charge annual fees
- Flexible redemption options
- With sign-up bonus
- With 0% introductory APR on purchases
Cons
- 0% introductory APR isn’t applicable to balance transfers
- With foreign transaction fees
- Access to a business credit score: Bank of America lets you view and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Balance Connect®: This helps prevent declined purchases, returned checks, or other overdrafts when you link your Bank of America® Business Advantage Unlimited Cash Rewards to a Bank of America business checking account for overdraft protection.
- Fraud monitoring: Bank of America will block potential fraud if it detects abnormal patterns in your transactions. It’ll also notify you if it suspects any fraudulent activity.
- Zero liability protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
0%
9 billing cycles
18.49% – 28.49% Variable APR on purchases
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Earn unlimited 1.5% cash back on all purchases.
- No annual cap and cash rewards don’t expire.
- No annual fee.
- 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 an unlimited 2.62% cash back on all purchases.
- Choose how to redeem your cash rewards – as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that’s currently 18.49% to 28.49% will apply.
- 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.
Pros
- Doesn’t charge annual fees
- Flexible redemption options
- With sign-up bonus
- With 0% introductory APR on purchases
Cons
- 0% introductory APR isn’t applicable to balance transfers
- With foreign transaction fees
- Access to a business credit score: Bank of America lets you view and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Balance Connect®: This helps prevent declined purchases, returned checks, or other overdrafts when you link your Bank of America® Business Advantage Unlimited Cash Rewards to a Bank of America business checking account for overdraft protection.
- Fraud monitoring: Bank of America will block potential fraud if it detects abnormal patterns in your transactions. It’ll also notify you if it suspects any fraudulent activity.
- Zero liability protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
This is one of our top-recommended business credit cards for nonprofits and is best for business owners who want to earn unlimited 1.5% fixed-rate cash back on all purchases regardless of spending categories. If your business expenses don’t lean toward any particular spending category, then this card is a good choice.
Similar to the Business Advantage Customized Cash Rewards credit card, it is a good option if you have an existing business checking account with Bank of America. You can earn up to 75% more cash back on every purchase if you are a Preferred Rewards for Business member.
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 as long as your account remains open and in good standing. Read our Bank of America business checking review for more information.
- Sign-up bonus: Earn a $300 statement credit after spending at least $3,000 in net purchases within 90 days of card membership.
- No annual fee: Earn unlimited rewards on all purchases without paying annual fees, reducing your credit cost.
- 0% introductory APR: Make a large purchase and enjoy interest-free financing for the first nine billing cycles after opening an account.
Important Considerations:
- It doesn’t offer 0% APR on balance transfers.
- It lacks zero foreign transaction fees, which is why it’s not ideal for those who travel abroad frequently.
If you want to earn travel rewards instead of cash back and prefer to use the card when traveling abroad, you may benefit more from Business Advantage Travel Rewards World Mastercard®.
Business Advantage Travel Rewards World Mastercard®: Best for Earning Travel Rewards
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
Earning top rewards on travel purchases booked through Bank of America Travel Center
0%
9 billing cycles
18.49% – 28.49% Variable APR on purchases
- Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining purchases.
- Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend.
- No limit to the amount of points you can earn and points don’t expire.
- You can earn up to 75% more points 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 an unlimited 2.62 points per $1 spent on all purchases.
- No annual fee and no international transaction fees.
- Choose how to redeem points for a statement credit to offset travel and dining purchases, travel with no blackout dates at the Bank of America® Travel Center, for cash back or gift cards.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that’s currently 18.49% to 28.49% will apply.
- 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.
Pros
- No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
- No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
- 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
- Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.
Cons
- Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
- Short 0% APR introductory period: This is a disadvantage if you need a longer 0% APR period.
- No 0% APR on balance transfers: The introductory APR only applies to purchases
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
0%
9 billing cycles
18.49% – 28.49% Variable APR on purchases
- Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining purchases.
- Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend.
- No limit to the amount of points you can earn and points don’t expire.
- You can earn up to 75% more points 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 an unlimited 2.62 points per $1 spent on all purchases.
- No annual fee and no international transaction fees.
- Choose how to redeem points for a statement credit to offset travel and dining purchases, travel with no blackout dates at the Bank of America® Travel Center, for cash back or gift cards.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that’s currently 18.49% to 28.49% will apply.
- 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.
Pros
- No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
- No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
- 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
- Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.
Cons
- Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
- Short 0% APR introductory period: This is a disadvantage if you need a longer 0% APR period.
- No 0% APR on balance transfers: The introductory APR only applies to purchases
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
It is best for business owners who travel frequently and want to earn rewards toward travel and dining. It is one of our leading business credit cards for travel and top cards that don’t report to personal credit bureaus, so using this card will not affect your personal credit. You can earn:
- 3x points when you book your travel through the Bank of America® Travel Center
- 1.5x points per dollar on all purchases
You can earn up to 75% more points on all purchases if you have a Bank of America business checking account and qualify for Preferred Rewards for Business. You can redeem rewards for a statement credit, cash back, gift cards, or travel.
- Sign-up bonus: Earn 30,000 bonus points after spending at least $3,000 in net purchases within 90 days after opening an account. Redeem this for a $300 credit towards travel purchases on your monthly bill.
- 0% introductory APR: Enjoy a 0% introductory APR for the first nine billing cycles after opening an account.
- No annual fee: Take advantage of unlimited rewards while minimizing your cost.
- No foreign transaction fees: Use the card to make international purchases without paying extra fees.
- No blackout dates on travel: Redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
Important Considerations:
- It doesn’t offer premium rewards on non-travel-related purchases.
- It has no 0% APR period on balance transfer transactions.
If travel is just one of your usual expenses, you may find the Business Advantage Customized Cash Rewards more valuable as you can choose the expense categories where you can earn premium rewards on.
Platinum Plus® Mastercard® Business Card: Best for Low Starting APR & Automatic Rebates With Mastercard Easy Saving®
Bank of America® Platinum Plus® Mastercard® Business card
Low-interest credit card for business purchases
0%
7 billing cycles
16.49% – 27.49% Variable APR on purchases
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Save on interest with a competitive purchase APR.
- No annual fee.
- 0% Introductory APR on purchases for the first 7 billing cycles. After the intro APR offer ends, a Variable APR that’s currently 16.49% to 27.49% will apply.
- Get employee cards at no additional cost to you and with credit limits you set.
- 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.
Pros
- Low ongoing APR
- 0% introductory APR
- No annual fee
- Sign-up bonus of $300
Cons
- No ongoing rewards
- 0% APR excludes balance transfers
- No-interest period is shorter than other cards
- Zero liability protection: Bank of America offers liability protection for unauthorized transactions, added protection for certain purchases against loss, damage, theft, or fire, and extended warranty coverage.
- Balance Connect for overdraft protection: This is an optional overdraft protection service that helps prevent declined purchases, returned checks, or other overdrafts. You need to link your Bank of America Business Advantage Travel Rewards World Mastercard® to a Bank of America business checking account.
- Free access to business credit score: You can view and monitor your Dun & Bradstreet business credit score for free within Business Advantage 360.
0%
7 billing cycles
16.49% – 27.49% Variable APR on purchases
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Save on interest with a competitive purchase APR.
- No annual fee.
- 0% Introductory APR on purchases for the first 7 billing cycles. After the intro APR offer ends, a Variable APR that’s currently 16.49% to 27.49% will apply.
- Get employee cards at no additional cost to you and with credit limits you set.
- 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.
Pros
- Low ongoing APR
- 0% introductory APR
- No annual fee
- Sign-up bonus of $300
Cons
- No ongoing rewards
- 0% APR excludes balance transfers
- No-interest period is shorter than other cards
- Zero liability protection: Bank of America offers liability protection for unauthorized transactions, added protection for certain purchases against loss, damage, theft, or fire, and extended warranty coverage.
- Balance Connect for overdraft protection: This is an optional overdraft protection service that helps prevent declined purchases, returned checks, or other overdrafts. You need to link your Bank of America Business Advantage Travel Rewards World Mastercard® to a Bank of America business checking account.
- Free access to business credit score: You can view and monitor your Dun & Bradstreet business credit score for free within Business Advantage 360.
This card is ideal for business owners who need to carry a balance and want a low-interest credit card. It has the lowest starting APR of all the cards in this guide. It is also a good fit for those who don’t need to earn rewards on purchases, as it is the only card listed here that doesn’t offer ongoing rewards.
However, while it doesn’t offer ongoing rewards on purchases, you can take advantage of automatic rebates on selected merchants across the US with the Mastercard Easy Saving® program. No coupons or codes are needed to qualify.
- Sign-up bonus: Get a $300 statement credit after you spend $3,000 within the first 90 days after opening an account.
- No annual fee: Use your card, carry a balance, and pay a low ongoing APR without having to pay an annual fee.
- 0% introductory APR: Enjoy interest-free financing for the first seven billing cycles after opening an account.
Important Considerations:
- It doesn’t offer cash back or rewards points on your regular purchases unless it’s part of the Mastercard Easy Saving® program.
- Its 0% APR offer is not applicable to balance transfers.
If you prefer to earn rewards on your purchases, consider other cards like the Business Advantage Customized Cash Rewards, Business Advantage Unlimited Cash Rewards, or the Business Advantage Travel Rewards World Mastercard®.
Frequently Asked Questions (FAQs)
According to Bank of America’s website, online applications can take as little as 5 to 10 minutes. Make sure to prepare all your personal and business information—including your business tax ID and gross annual sales/net profit—to make the process more seamless.
Preferred Rewards for Business is a rewards program that Bank of America offers to its small business clients. As a member, you can access a wide range of rewards, benefits, and savings. To become a Preferred Rewards for Business member, you need to have an active Bank of America business checking account. Also, your three-month average daily balance should be at least $20,000. This balance can be in combined qualifying Bank of America business deposit accounts and Merrill business investment accounts.
There are three tiers available, which are based on your balance:
- Gold: $20,000 to $49,999
- Platinum: $50,000 to $99,999
- Platinum Honors: $100,000 and more
Members of the Preferred Rewards For Business can earn additional rewards from the Business Advantage Customized Cash Rewards, Business Advantage Unlimited Cash Rewards, and Business Advantage Travel Rewards World Mastercard® credit cards, as follows:
- Gold: 25% more rewards
- Platinum: 50% more rewards
- Platinum Honors: 75% more rewards
Bottom Line
If you have an excellent credit score, you’ll likely qualify for the best Bank of America business credit cards. All cards included in this guide have no annual fee and come with 0% APR on purchases. You can earn ongoing cash back or travel points or automatic rebates from selected merchants. It’s best to maintain your business deposit account with Bank of America to enjoy more perks and benefits.
