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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.
INK BUSINESS CASH® CREDIT CARD
The Ink Business Cash® Credit Card from Chase has an offer for $750 bonus cash back (75,000 Ultimate Rewards points) when you spend $7,500 on purchases in the first 3 months after account opening. This card has no annual fee.
This card earns 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. It also earns 2% cash back on the first $25,000 in combined spending at gas stations and restaurants each anniversary year. All other purchases earn an unlimited 1% cash back.
You can redeem your rewards for cash back, gift cards, travel and more.
The Ink Business Cash® Credit Card earns Chase Ultimate Rewards. This allows for more redemption possibilities when paired with other Chase Ultimate Rewards cards (e.g. Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, Ink Business Preferred® Credit Card). Pair it with one of these cards, use the available transfer partners, and 75k Ultimate Rewards points can be worth up to $1,500 in value.
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.
| Membership Tier | Minimum Balance | Rewards Bonus | Choice Category | Dining | All Other Rewards |
| Not a member | None | 0% | 3% | 2% | 1% |
| Gold | $20,000 | 25% | 3.75% | 2.50% | 1.25% |
| Platinum | $50,000 | 50% | 4.50% | 3.00% | 1.50% |
| Platinum Honors | $100,000 | 75% | 5.25% | 3.50% | 1.75% |
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.
Bottom Line
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 |
| TradeStation | $100 Bonus | Review |
| Coinbase | $10 In BTC | Review |
| Robinhood | Free Stock | Review |
| Motley Fool | Stock Advisor Discount | Review |
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Disclaimer: These responses are not provided or commissioned by the bank advertiser, credit card issuer, hotel, airline or other entity. Responses have not been reviewed, approved or otherwise endorsed by any of the entities included within the post. It is not the bank advertiser's or any other entity's responsibility to ensure all posts and/or questions are answered.