Bank of America doesn’t have as many cards in its business suite as other issuers — you won’t find a Bank of America corporate card, for example. But the bank makes up for this in quality, offering cards with solid perks for small businesses that can help you save money while avoiding high interest in the long run.
When choosing our cashback picks, we looked at multiple features, including earning rate and categories, introductory offers, business perks and any other benefits that a business owner might find appealing in a business credit card. Those cards that outperformed the others in a given category were chosen for our list.
Bank of America’s offerings haven’t changed much this year and generally retained their niche purposes when compared to one another.
Overview of Bank of America business credit cards
Bank of America business credit cards fall into several categories, each with benefits and potential drawbacks to consider.
Quick look at best business credit cards from Bank of America
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
Best for: General travel rewards
For small businesses looking for a general rewards card, the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card may be a good choice. You’ll earn 3x points for bookings through the Bank of America Travel Center and 1.5x points on all other purchases. Redeem your points for statement credit toward flights, hotels, car rentals, cruises, vacation packages or baggage fees, or redeem them for cash back and gift cards.
This card also offers a signup bonus of 30,000 points after you spend $3,000 on purchases in the first 90 days of account opening. Finally, this card is light on the fees, requiring no annual fee or foreign transaction fee.
Alaska Airlines Visa® Business credit card
Best for: Airline rewards
Business owners who frequently fly with Alaska Airlines or Virgin America — which merged back in April 2018 — might find the Alaska Airlines Visa® Business credit card valuable. You’ll earn 3x miles for purchases directly with Alaska Airlines and Virgin America, and 1x miles for all other purchases. You can also earn a 40,000 signup bonus after you spend $2,000 within your first 90 days of account opening.Of particular value are the travel perks this card offers. You’ll receive a companion fare each year on your account anniversary, allowing a companion of your choice to fly for free alongside a flight you’ve booked and paid. You’ll also enjoy a free checked bag for up to six passengers on your reservation, 50% off Alaska Lounge day passes, and 20% back on inflight food, beverage and Wi-Fi purchases when you buy with this card. One thing to watch out for: additional employee cards will run you $25 per card each year.
Bank of America® Bank of America® Cash Rewards credit card
Best for: Cash back
The Bank of America® Bank of America® Cash Rewards credit card could be an excellent choice if you want to earn accelerated cash back on a variety of categories. Rather than locking you into a specific earning category, this card lets you choose which category you want to earn the most in each month.These categories include business-focused purchases such as office supplies, travel, computer services and consulting services. You’ll earn cash back on one of these categories and 2% back on dining, though only up to $50,000 each year in combined purchases. After that and on everything else, you’ll earn 1% cash back.
Bank of America® Platinum Plus® Mastercard® Business card
Best for: Introductory purchases
The Bank of America® Platinum Plus® Mastercard® Business card offers one of the lowest possible APRs on purchases and balance transfers, especially if your business’s credit history and score are solid. You’ll enjoy a 0% intro APR on purchases for the first 7 billing cycles, reverting to 11.74% to 22.74% after. Balance transfers share this APR, though you don’t benefit from an intro balance transfer period with this card.Aside from that, you can earn a relatively easy to obtain signup bonus of $300 after you spend $3,000 within your first 60 days of account opening. This card doesn’t charge extra for additional employee cards, which is always a welcome perk for business cards.
Alternatives to Bank of America business credit cards
Bank of America has a focused stable of business credit cards, but you might want to consider other providers, such as:
Chase. Chase offers an impressive collection of business products in its Ink Business suite. This includes the Chase Ink Business Preferred® Credit Card, which you can use with cards in the Chase trifecta for optimal rewards. You’ll also find cobranded options from Southwest and United.
How to choose the best Bank of America business credit card
While Bank of America offers a small number of business cards, their specialized nature and overall strength mean you’ll likely find one that can benefit your business. When deciding on the right business card, ask yourself:
What do I spend the most money on? For businesses that require frequent and large purchases of office supplies or those that are constantly on the road, the Bank of America® Bank of America® Cash Rewards credit card could be useful if you choose these categories for accelerated cash back.
Does my company need to make a large initial purchase? The Bank of America® Platinum Plus® Mastercard® Business card offers an intro APR that can help companies carry a balance for the first few months without paying interest.
How often do I travel? Businesses that require frequent travel might find the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card a solid choice. You earn 3x points on airline, hotel or car rental purchases through the Bank of America Travel Center and 1.5x points on all other purchases.
How often do I fly? For frequent Alaska Airlines and Virgin America flyers, the Alaska Airlines Visa® Business credit card offers perks like free checked bags and miles redemption toward flights and seat upgrades. Or check out the Asiana Visa® Business Card if you often travel often to East Asia and Oceania countries.
What credit score do I need for a Bank of America business credit card?
To qualify for most Bank of America business credit cards, you’ll need an excellent credit score of 740 or higher. The exception here is the Alaska Airlines Visa® Business credit card, which you may qualify for with a good credit score of 670 or higher.
Why choose a Bank of America business credit card?
Bank of America cards share a number of features that can make managing your finances easier and more secure. Read your card’s terms and conditions to learn which benefits apply to your card and how to access them.
No penalty APR. None of the Bank of America business credit cards require a penalty APR on late or returned payment. Other cards come with variable penalty APRs of up to 30% that stick with you for 12 months or longer.
Business Advantage Relationship Rewards. Bank of America offers a program to boost your small business’s success with rewards and benefits that grow along with your banking balances. Earn a rewards bonus of 25% to 75% on every purchase you make with eligible cards, pay no fees for select everyday banking services, get interest rate discounts for auto loans, term loans and more.
Mobile banking. Download the Bank of America mobile app and monitor your employees’ account activity 24/7. You can also make payments, schedule payments, set alerts and more.
Travel services. Get travel accident insurance, car rental insurance and emergency ticket replacement on travel paid for with your card.
Chip cards. All Bank of America business cards contain chips, which makes them hard to counterfeit or copy. And you get $0 liability protection for unauthorized transactions.
Bottom line
Small businesses requiring frequent travel can choose from a general travel rewards card or one of two airline cards with high rewards potential. If it’s cash back you’re after, apply for a card with a high annual cap of $50,000 or a potentially low APR on purchases that helps you carry balances with minimal costs.
Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.
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