Contents
The Platinum Plus Mastercard Business Credit Card from Bank of America has an offer for a $300 statement credit when you make at least $3,000 in net purchases within 90 days of account opening. This is a nice offer for a no-annual-fee card. Compare it to other business card bonuses here.
This one is a no-annual-fee bare bones business card. Although it features a solid welcome bonus, the card does not offer any ongoing rewards. You’ll get basic cash flow management tools and Mastercard benefits, but there aren’t any value-added perks.
*The Platinum Plus Mastercard Business card is issued by Bank of America.
BoA also offers great sign-up bonuses for their Checking/Savings accounts.
INK BUSINESS UNLIMITED® CREDIT CARD
The Ink Business Unlimited® Credit Card from Chase offers a $750 bonus (75,000 Ultimate Rewards points) when you spend $7,500 within the first 3 months of account opening. This card has no annual fee.
Get unlimited flat 1.5% Cash Back rewards on every purchase with this card. There are no categories to keep up with.
Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards. You can pool your rewards with other 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 750k Ultimate Rewards points can be worth up to $1,500 in value.
Platinum Plus Business $300 Statement Credit Bonus
Get a $300 statement credit as a welcome bonus when you charge at least $3,000 to your Platinum Plus Business card within the first 90 days of opening your account.
*Compare all top card bonuses here.
Here are some ideas on meeting the spending requirement:
Platinum Plus Business Card Top Features
The Platinum Plus Mastercard Business card, like all BoA business credit cards, allows you to opt into Overdraft Cash Advance, the bank’s overdraft protection transfer program.
This feature protects your BoA checking account from overdraft fees. If a checking account transaction will result in an overdraft, a cash advance is automatically drawn from your credit line, and the transaction will complete as intended.
Overdraft cash advances are drawn in $100 increments. So, a $125 overdraft will result in a $200 transfer. All overdraft cash advances accrue interest at the regular cash advance rate. You’ll also have to pay transfer costs, either $10 or 3%, whichever is greater.
The Platinum Plus Business card comes with cash flow management tools, including:
- Automatic online payment
- QuickBooks integration
- Transaction categorizing
- Transaction tracking
Platinum Plus Business offers a basic lineup of benefits for travelers, including:
- Emergency ticket replacement
- Travel accident insurance
- Lost luggage replacement
- Car rental insurance
Platinum Plus Business Card Drawbacks
Besides the introductory offer, the Platinum Plus Mastercard Business card offers no other way to earn rewards for your spending. This is a huge disadvantage, especially when you compare it to other business credit cards with no annual fee. Such as the Ink Business Cash® Credit Card.
The Platinum Plus Business card carries a 3% international transaction fee, so it’s not a good option if you or your employees regularly travel abroad for business.
A good alternative is the Chase Ink Business Preferred® Credit Card. It doesn’t have any foreign transaction fees, plus it offers a generous rewards program.
Bottom Line
The Platinum Plus Mastercard Business card from Bank of America is a low-cost, no-frills option with a solid welcome bonus. However, because it lacks ongoing rewards and deal-sweetening benefits, we suggest you put this credit card in your drawer after you cash in on its introductory offer.
| 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 |
Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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.