The Bank of America Business Advantage Cash Rewards Mastercard offers a $300 statement credit as an introductory bonus. Although not the best welcome bonus out there, it’s still a decent one for a credit card with no annual fee.
The Business Advantage Cash Rewards card has the flexibility to earn a high rewards rate on your category choice. You’ll have categories like gas stations, office supply stores, travel and more to choose from. But, this card really makes the most sense if you already do business with BoA and qualify for their Preferred Rewards for Business.
If your business expenses cover categories outside of their options, you’ll find limited value in this cash rewards card.
*Bank of America also offers great sign-up bonuses for its Checking/Savings accounts.
Business Advantage Cash Rewards Card $300 Sign-Up Bonus
Take advantage of the $300 statement credit offer. To qualify, charge at least $3,000 to your card within the first 90 days of opening your account.
That’s a decent bonus if you consider other cards with no annual fees.
Here are some ideas on meeting the spending requirement.
Redeeming Your Cash Rewards
Start redeeming your cash back after earning a minimum of $25. Get it as a:
- Statement credit
- Direct deposit into a BoA small business checking or savings account
Your cash rewards don’t expire. So hold on to them for as long as you want.
Business Advantage Cash Rewards Card Top Features
Earn 3% cash back on your choice of one of the following categories: gas stations (defaults to this if you don’t choose), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services.
You’ll also earn 2% cash back on dining and unlimited 1% back everywhere else.
The 2% and 3% rates are capped at $50,000 in combined spending each calendar year.
If you’re enrolled in Preferred Rewards for Business, you’ll get an additional 25% to 75% rewards bonus on every purchase you make.
|Choice Category||Dining||All Other Rewards|
|Not a member||None||0%||3%||2%||1%|
The more you have deposited across your accounts, the better you’re rewarded. Eligible accounts include BoA business accounts, and Merrill Edge and Merrill Lynch investment accounts.
The Bank of America Business Advantage Cash Rewards Mastercard doesn’t offer the most generous sign-up bonus, nor the highest rewards rates. But if your company spends a ton every year on dining and one of the choice categories, it’s worth a thorough once-over. Especially if your business already does banking with BoA and qualifies for Preferred Rewards for Business.
If your business spending doesn’t fall neatly into this card’s bonus categories, you should consider other options. Take a look at some suggestions below.
|OFFER LINK||OFFER||OUR REVIEW|
|Chase Business Complete Banking℠||$300 Cash||Review|
|Chase Total Checking®||$225 Cash||Review|
|Chase Secure Banking℠||$100 Cash||Review|
|TD Bank Beyond Checking||$300 Cash||Review|
|TD Bank Convenience Checking℠||$150 Cash||Review|
|HSBC Premier Checking||$450 Cash||Review|
|Axos Business Checking||$100 Cash||Review|
|Aspiration Checking||$150/$200 Cash||Review|
|Ally Invest||Up To $3,000||Review|
|Betterment||Up To 1 Year Free||Review|
|BlockFi||Up To $250 BTC||Review|
|Voyager (code BH5F1A)||$25 In BTC||Review|
|Coinbase||$10 In BTC||Review|
|Motley Fool||Stock Advisor Discount||Review|