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The information for the following product(s) has been collected independently by Business Insider: Bank of America® Business Advantage Travel Rewards World Mastercard® credit card, Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® Credit Card, Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card, Alaska Airlines Business Credit Card, Platinum Plus® Mastercard® Business Credit Card. The details for these products have not been reviewed or provided by the issuer.
As a small business owner, utilizing a business credit card is wise because you can separate your personal and business expenses, making accounting easier. Plus, you can earn rewards for your spending and access to benefits like purchase protection and travel insurance.
The unique advantage the Bank of America business cards have over many of the other best business credit cards is the Preferred Rewards program, through which Bank of America loyalists can access elevated reward rates and maximize their business spending.
We've curated a list of the best Bank of America business cards, giving you the information you need to find the right credit card for your business. This guide showcases the variety of cards available, highlights their key features, and explains how they cater to different business requirements such as cash flow management, travel expenses, and reward preferences.
Best Bank of America Business Credit Cards
Here are Business Insider's picks for the best Bankk of America small business credit cards:
- Best for travel rewards: Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
- Best for flat-rate cash back: Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® Credit Card :
- Best for choosing your cash back category: Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card
- Best for airline miles: Alaska Airlines Business Credit Card
- Best for 0% intro APR offer: Platinum Plus® Mastercard® Business Credit Card
Bank of America Business Credit Card Reviews
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is a solid choice for a no-annual-fee business card, earning an unlimited 1.5% back for every dollar spent.
This card comes with a welcome offer of 30,000 online bonus points after you spend $3,000 in purchases in the first 90 days of your account opening, worth $300 towards travel or dining purchases, based on Business Insider's points valuations.
Business checking account holders who qualify for Bank of America's Preferred Rewards program will earn up to an unlimited 2.62 points for every $1 spent, so it's easy to see how your rewards could add up. There are various ways to redeem your rewards, including travel with no blackout dates at the Bank of America Travel Center, statement credits to offset travel and dining purchases, and more.
Travelers will also appreciate that the card doesn't charge foreign transaction fees, which can save you about 3% on every purchase.
Check out our in-depth review of the Bank of America Business Advantage Travel Rewards card for more details.
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® Credit Card
The Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® Credit Card is another easy-to-use product for business owners.
This card doesn't come with an annual fee, and cardholders can earn a welcome bonus of $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
They'll also earn 1.5% cash back on all purchases, with no limits on the number of points you can earn –– with those who qualify for the bank's Preferred Rewards program accessing even higher earnings rates that rival most cash-back credit cards.
If these benefits sounds a lot like those on the Bank of America® Business Advantage Travel Rewards World card, you aren't dreaming. The primary difference between these two cards comes from the type of rewards you earn and how you can redeem them.
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card earns travel rewards, while the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® Credit Card earns cash back as a deposit into your Bank of America checking or savings account, as a card statement credit, or as a check.
Read our Bank of America Business Advantage Unlimited Cash Rewards review for more details on this card.
Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card
If you're looking for a Bank of America business credit card that offers a little customization when it comes to earning rewards, this card is for you.
The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card is yet another no-annual-fee card that offers a welcome bonus of $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
You'll also earn 3% cash back per dollar spent in the category of your choice, 2% cash back on dining purchases, and 1% cash back on all other purchases.
There's a combined annual spending cap on the total cash back you can earn, but the 3% categories you can choose from include common expenses like gas stations and EV charging stations, office supply stores, travel, and more. That 3% rewards rate tops our list of the best credit cards for gas purchases.
That said, this card likely isn't the right choice if you're looking for simplicity, since you'll need to plan ahead for specific purchases in order to maximize your rewards.
Read our Bank of America Business Advantage Customized Cash Rewards card review for more information.
Alaska Airlines Business Credit Card
The Alaska Airlines Business Credit Card is the only Bank of America business card that earns airline miles, with an annual fee of $70 per company and $25 per card. With the card's welcome offer, you'll earn 50,000 bonus miles and Alaska's Famous Companion Fare™ ($99 fare plus taxes and fees from $23) after you make $3,000 or more in purchases within the first 90 days of opening your account.
Cardholders earn 3 miles per dollar spent on eligible Alaska Airlines purchases including flights and onboard food or beverages; 2 miles per dollar on eligible gas, EV charging station, shipping and local transit (including rideshare) purchases; and 1 mile per dollar on all other purchases.
You'll also get perks like a free checked bag for the cardholder and up to 6 guests on the same reservation when you pay for your flight with your card. This benefit alone can translate into serious savings considering checked bag fees cost $60 per person roundtrip.
If you're a regular with Alaska Airlines or like using their miles for flights on partner airlines, this card can make a lot of sense. But it likely has limited value for many small business owners, given that other cards offer more flexibility when it comes to earning and redeeming rewards.
Here's our full review of the Bank of America Alaska Airlines Business Visa credit card.
Platinum Plus® Mastercard® Business Credit Card
The Platinum Plus® Mastercard® Business Credit Card is the final business credit card in our roundup, and the most underwhelming offer in Bank of America's business card lineup.
This no-annual-fee card offers a decent welcome bonus of $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of account opening. It also offers an 0% intro APR on purchases for the first 7 billing cycles, then 16.49% - 27.49% variable APR. But it doesn't offer any ongoing rewards or unique benefits.
Approval for this card typically requires excellent credit. If you have the credit score to qualify for this card, there are dozens of better options for you to consider.
If you'd like a card that offers a period of zero-interest to help you manage existing credit card debt, check out our guide to the best business credit cards for balance transfers. And if you'd like a no-annual-fee card that still earns rewards, take a look at our guide to the best no-annual-fee business credit cards.
Compare the Top Bank of America Business Credit Cards
$0
0% intro APR for the first nine billing cycles on purchases
18.49% - 28.49% variable
Earn 30,000 online bonus points
Excellent
- You can earn 30,000 online welcome bonus points
- 1.5 points per dollar on every purchase with no cap
- No annual fee/foreign transaction fee
- Some cards offer longer intro APR
- There are no airline or hotel partners to transfer points to
$0
0% intro APR on purchases for the first nine billing cycles
18.49% - 28.49% variable
Earn a $300 online statement credit
Excellent
- You can earn a $300 welcome bonus offer
- 1.5% cash back on all purchases with no cap
- No annual fee
- Some cards offer longer intro APR and higher rewards rates
- You need to be a Preferred Rewards member to earn higher rewards
- 3% foreign transaction fee
$0
0% intro APR on purchases for the first nine billing cycles
18.49% - 28.49% Variable
Earn a $300 online statement credit
Excellent
- Good welcome bonus for a no-annual-fee business card
- Cardholders can choose their own 3% cash-back category from a list
- Bank of America Preferred Rewards for Business customers can earn up to 75% more rewards
- 3% and 2% cash back categories are capped at $50,000 in combined purchases per year (then 1%)
- Card only earns 1% back in non-bonus categories
- Foreign transaction fees
The no-annual-fee Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card is great for small-business owners who want to control how they earn rewards and maximize every dollar spent. The card has a solid welcome bonus, good redemption options, and a fair intro APR deal. But if you don't spend big in the select bonus categories, you should consider a different no-annual-fee business rewards card.
Business Advantage Customized Cash Rewards Mastercard
$70 per company and $25 per card
N/A
21.24% - 29.24% Variable
50,000 bonus miles and Alaska's Famous Companion Fare™
Excellent
- Annual companion fare
- Free first checked bag and priority boarding on Alaska flights for primary cardholder/authorized users and up to six companions on the same reservation
- 10% bonus on miles earned with the card if you have a qualifying Bank of America business account
- Must use card to pay for ticket to receive free checked bag and priority boarding on Alaska flights
- Additional authorized user cards have an annual fee of $25 per year
- Annual companion fare requires spending $6,000 on purchases in a card anniversary year
$0
0% intro APR on purchases for the first 7 billing cycles
16.49% - 27.49% variable
Earn a $300 online statement credit
Excellent
- 0% intro APR for seven billing cycles, then regular APR applies
- Offers welcome bonus
- No annual fee
- No rewards or unique benefits on new purchases and balance transfers
- Pales in comparison to most other credit cards available
Comparing Bank of America Business Credit Cards
Bank of America offers relatively few business cards compared to some competitors like Amex and Chase, and most of their rewards and benefits can be found on other products as well.
Rewards and Cash Back Comparison
You'll get the best value out of most Bank of America credit cards if you're a business checking account holder who qualifies for Bank of America's Preferred Rewards program.
Qualification requirements are steep, however, and can be challenging for many small business owners to attain. To reach the base tier of the Preferred Rewards program, you need to maintain a three-month average combined balance of $20,000 to $50,000 in your Bank of America banking and/or Merrill investment accounts. If you don't meet this requirement, you'll earn relatively low rewards per dollar spent on your cards.
Many of the best small business credit cards on our list earn far more generous rewards on select categories, and can match or exceed the rates offered on most Bank of America business cards.
Travel Benefits and Perks Comparison
If you're a frequent flyer on Alaska Airlines, the $70 per company and $25 per card Alaska Airlines Business Credit Card is a great choice for you. This is Alaska's only business credit card, and offers one of the fastest ways for you to quickly rack up miles for award travel.
However, there aren't any other good Bank of America business cards for travel perks. Most of Bank of America's other travel credit cards pale in comparison to the very best business credit cards for travel. While the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card offers up to 5.25% back on select travel purchases, that high rate of return is dependent on top-tier Preferred Rewards banking status through Bank of America.
A top business credit card for travel such as the Ink Business Preferred® Credit Card blows Bank of America's travel card out of the water because it earns 3x Chase Ultimate Rewards® points, worth 1.8 cents apiece by our valuations, on every dollar spent toward travel expenses without additional banking requirements — and comes with great travel benefits to boot.
How to Qualify for a Business Credit Card
Regardless of your goals surrounding earning rewards, having a business card is a smart move if you're a small business owner. Luckily, qualifying for a business card is easier than many think. A formal LLC or a business with a million dollars in revenue isn't required. Sole proprietorships and activities such as tutoring, freelancing, and reselling can qualify you for such cards.
Having a business card is a savvy decision for small business owners whether you want to earn rewards or simplify your accounting. You don't need a formal LLC or a million-dollar revenue-generating business; activities like driving for a rideshare company, freelancing, and reselling can make you eligible for these cards.
How to Apply for a Bank of America Business Credit Card
Applying for a Bank of America business card (or any small business credit card, for that matter) is more or less the same process as applying for a personal card –– you'll just have to provide information on your business along with your personal info.
Filling out the application is the first step, where you'll provide details like your name, date of birth, and social security number (SSN). You'll also be required to share your business information, like your business name, yearly revenue, and Employer Identification Number (EIN).
You can apply for a business card using your SSN, so don't fret if you don't have an EIN. Regardless, the decision to approve or deny you for a card will be based on information from your personal credit report, and you'll be personally responsible for any charges made to your business card.
Bank of America Business Credit Card Frequently Asked Questions
Yes, your business can have multiple Bank of America business credit cards at the same time. Holding different cards can be a strategic approach to maximizing potential rewards and benefits across different spending categories and needs.
Bank of America business credit cards have tools such as account alerts, spending limits for employee cards, and accounting software integration that help your business track expenses and effectively manage cash flow.
Yes, some Bank of America business credit cards offer sign-up bonuses, also called welcome bonus offers. These bonuses usually offer cash back, reward points, or lower APR offers after meeting certain requirements, and can provide additional value to new cardholders.
Yes, rewards earned on Bank of America business credit cards can be used to book flights, hotels, and other travel-related expenses. Some Bank of America business cards are specifically designed for travel, including the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card and the Alaska Airlines Business Credit Card.
You can apply for a Bank of America business credit card online, over the phone, or in person. You'll need to submit an application with your business and personal information. Approval is based on several factors including your credit history and business financials.
The Preferred Rewards program offers Bank of America deposit or investment account holders who maintain a specific deposit amount with the bank over time special banking discounts, bonus rewards on credit card spending, and various other perks. It's a program that rewards Bank of America customers for their loyalty.
Yes, Bank of America can be a good bank for a credit card if one of the business cards they offer aligns with your business' spending habits and financial goals. Ideally, you consider all of the best business credit cards during your search to find one that truly fits your needs.
You can use Bank of America's online application status page to check your credit card application status. You'll be asked to provide your last name, date of birth, the last four digits of your social security number, and your zip code.
The best Bank of America business credit card for you is ultimately about finding the card that aligns with your spending habits and financial goals. What works for one business might not work for another. Consider factors like the card's welcome bonus, benefits, and perks when choosing. A card is worth it when you can make the most of what the card has to offer.
Yes, getting a Bank of America business card can be hard because all their cards require good to excellent credit. That means your FICO score must be 740+. The final decision will be based on your total credit profile, but a strong credit score is a key factor in approval.
Why You Should Trust Us: How We Reviewed the Best Bank of America Business Credit Cards
In constructing this roundup of the best Bank of America small business credit cards, we reviewed each card's attributes, including:
- Welcome offers
- Annual fees
- Rewards earnings rates
- Ongoing perks and benefits
- Approval requirements
With this information in hand, readers can decide which Bank of America business card fits their business based on their needs and financial goals.
We share how we rate and review credit cards at Business Insider so that readers can understand our process. Although some cards are affiliates, we prioritize delivering unbiased reviews without favoring specific cards for financial gain.
Business Insider's credit cards team operates independently from Business Insider's business team and maintains stringent editorial standards.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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