Compare top Bank of America business cards – December 2018
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We look at the best cards for travel, airline rewards, cash back and more for your small business.
Bank of America doesn’t have as many cards in its business suite as other issuers. But the few cards the bank does offer have great perks that can help you save money while avoiding high interest in the long run.
Compare Bank of America business credit cards
Use our table to sort Bank of America business credit cards by name, intro APR, annual fee and more. Check the Compare box under up to four cards you’re interested in. Then click the orange Compare button to see a side-by-side comparison of fees, requirements and features. To learn more about a specific card, click More info to read our review.
For small businesses looking for a general rewards card, the 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.
Signup bonus.
Earn 25,000 points after you spend $1,000 in the first 60 days your account is open, which you can redeem for a $250 statement credit toward travel.
Earn points.
For every dollar you spend on flights, hotels or car rentals through the Bank of America Travel Center, you earn 3 points. For all other purchases, you earn 1.5x points.
Intro APR on purchases.
Get a 0% intro APR on purchases for the first 9 billing cycles after opening your account. A variable APR of 13.24% to 23.24% applies after.
No penalty APR.
The Business Advantage Travel Rewards World Mastercard® credit card is one of the rare ones to waive a penalty APR. For comparison, the majority of business cards come with a variable penalty APR of up to 30%.
No annual fee or foreign transaction fees.
This card comes with a $0 annual fee, which makes it easy to own long term. It also makes for a great travel companion, as you won’t incur fees for using the card abroad. Other cards come with foreign transaction fees of up to 3%.
Late payment fees.
Depending on your balance, you could pay up to $49 in fees for paying late.
No intro APR period on balance transfers.
The Business Advantage Travel Rewards World Mastercard® credit card has no intro APR period on balance transfers, which means you pay a variable APR of 13.24% to 23.24% immediately. The balances you transfer must be from a bank other than BofA, and the amount can’t exceed your credit limit.
Best for airline rewards: Alaska Airlines Visa® Business Card
Alaska Airlines Visa® Business Card
Limited time offer + 30,000 bonus miles
Buy one ticket, get one for just taxes and fees ($0 fare plus taxes and fees from just $22) plus receive 30,000 bonus miles with this offer. To qualify, spend $1,000 or more in net purchases within the first 90 days of opening your account.
Business owners who frequently fly with Alaska Airlines or Virgin America — which merged back in April 2018 — might find the Alaska Airlines Visa® Business Card valuable. You’ll earn 3x miles for purchases directly with Alaska Airlines and Virgin America, and 1x miles for all other purchases.
Signup bonus.
Earn 30,000 bonus miles and Alaska’s Famous Companion Fare™ from $121 ($99 plus at least $22 in taxes and fees) after you make $1,000 or more in net purchases within the first 90 days of your account opening. Redeem your miles for flights, seat upgrades, hotel stays and more. Flight redemption starts at 5,000 miles and goes up to 70,000 miles — depending on distance and seat class — for flights within the US and Alaska.
Earn miles.
For every purchase directly with Alaska Airlines or Virgin America, you earn 3x miles. All other purchases earn you 1x miles. Earn extra miles with purchases made at hotel partners that include Best Western, Starwood Preferred Guest, Marriott Rewards and Coast Hotels. And if you fly with such partners as British Airways, Condor, Emirates, Qantas and Korean Air, you’ll earn yet more miles.
Anniversary companion fare.
Every year on your account anniversary, get access to Alaska’s Famous Companion Fare that starts at $121 ($99 plus at least $22 in taxes and fees) on Alaska Airlines or Virgin America flights.
Free checked bags.
Save money with a free checked bag for you and up to six passengers on your reservation.
No foreign transaction fees.
Use your card freely when traveling overseas without paying fees on foreign transactions. With other cards, you’re charged a fee equal to up to 3% of each purchase abroad.
Annual fee.
Choose to pay your annual fee as a business or an individual:
Business Level Earning Plan. Pay a $50 company fee annually, plus $25 per card each year. All miles you earn with all of your cards accumulate in a single account.
Individual Level Earning Plan. Pay $75 for each card on your account each year. Miles accumulate individually for each cardholder according to their spending.
Late payment fees.
For every late payment, you’ll pay up to $49. But unlike other cards, you won’t pay a penalty APR.
Balance transfer limits.
Bank of American accepts balance transfers from non-BofA accounts only in amounts that won’t exceed your credit limit.
Best for cashback rewards: Business Advantage Cash Rewards Mastercard® credit card
Business Advantage Cash Rewards Mastercard® credit card
$200 statement credit bonus after spending $500 on purchases in the first 60 days of your account opening.
The Business Advantage Cash Rewards Mastercard® credit card could be ideal for companies that spend a lot on office supplies and gas each year. For those purchases, you get 3% cash back on up to $250,000 annually, and 3% cash back after. You also get 2% back on restaurant purchases and 1% back on all other purchases.
You could potentially get up to $7,200 back annually if you spend $20,000 per month on gas and office supplies alone. For businesses that spend up to $250,000 a year in these categories, the Business Advantage Cash Rewards Mastercard® credit card might be a strong choice. Otherwise, consider the SimplyCash® Plus Business Credit Card, which offers 5% cash back at US office supply stores and from US phone service providers and 3% back at US gas stations on up to $50,000 per year. After that, your rate reverts to 1% cash back.
Signup bonus.
Get $200 in statement credit after you make $500 in purchases in the first 60 days your account is open. This may not sound like much, but it’s easy to earn. For comparison, the SimplyCash® Plus Business Credit Card offers the same bonus, but you must spend $3,000 in the first three months to earn it.
Cash back.
For companies that are constantly on the road, this card could return decent cash at the end of the year. Redeem your cash back as a statement credit or a deposit to a Bank of America small business checking or savings account.
Intro APR on purchases.
You get a 0% intro APR on purchases for the first 9 billing cycles cycles after opening your account. The rate reverts to a variable APR of 13.24% to 23.24% after. This promo might help your business if you’re planning a large purchase.
No annual fee.
The Business Advantage Cash Rewards Mastercard® credit card comes with a $0 annual fee.
No penalty APR.
If you pay a statement late, your APR won’t increase. Other cards impose variable penalty APRs of up to 30%, which can apply indefinitely after a single late payment.
Foreign transaction fee.
Leave this card at home when you travel abroad to avoid paying a fee equal to 3% of each transaction you make.
Late payment fees.
If you don’t pay on time, you’ll pay up to $49 in fees.
Balance transfer limits.
The bank accepts balances transferred from outside banks only in amounts that won’t exceed your credit limit.
Best for purchases: Platinum Visa® Business Credit Card
Platinum Visa® Business Credit Card
0% intro APR on purchases for the first 7 billing cycles from account opening. No annual fee.
Bank of America offers identical cards that differ by issuer only: the Platinum Plus® for Business Mastercard® and Platinum Visa® Business Credit Card.
The Platinum cards offer one of the lowest possible APRs on purchases and balance transfers, especially if your business’s credit history and score are solid.
Signup bonus.
Get $200 in statement credit after you spend $500 in purchases within the first 60 days your account is open. Compared with other small business credit cards, this is one of the easiest signup bonuses to earn.
Intro APR on purchases.
For the first 7 billing cycles after opening your account, you get a 0% intro APR on purchases. A variable APR of 11.24% to 22.24% applies after that. This could help out with any large purchases you’re planning early on.
No annual fee.
Both Platinum cards come with fee to use them, making them good choices for the long term.
Foreign transaction fee.
If you travel abroad, leave these cards at home to avoid a fee equal to 3% of each transaction you make abroad.
Late payment fees.
The Platinum cards from Bank of America don’t have a penalty APR, but you’ll pay up to $49 in fees for each late payment.
Balance transfer limits.
You can’t transfer balances from Bank of America accounts, and your transfers must not exceed your credit limit.
How to compare Bank of America business credit cards
Bank of America offers a small number of business cards. But you may be able to find one to complement your business.
When deciding on the right business card, ask yourself:
What do you 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 Business Advantage Cash Rewards Mastercard® credit card could be useful. You get 3% cash back on gas and office supplies up to $250,000 per year, then 1% after that. Plus, you earn 2% back at restaurants and 1% back on all other purchases. Cash back can total more than $7,000 annually if you typically reach the $250,000 cap.
Does your company need to make a large initial purchase? Either of the Platinum cards offer an intro APR that can help companies carry a balance for a few months without paying interest, reverting to a variable APR of 10.99% to 21.99% after that. Based on your creditworthiness, you may see approval for an APR in the low end of 11% — among the strongest among any bank.
How often do you travel? Businesses that require frequent travel might find the 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. 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.
How often do you fly? For frequent Alaska Airlines and Virgin America flyers, the Alaska Airlines Visa® Business 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.
Why choose a Bank of America business credit card?
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 and 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.
Read your card’s terms and conditions to learn with benefits apply to your purchases.
Does Bank of America report its business credit cards to the consumer credit bureaus?
No. But the bank does report your activity to the commercial credit bureaus.
Consider a top card from another brand
Ink Business Preferred℠ Credit Card
Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
Earn 1 point per $1 on all other purchases - with no limit to the amount you can earn
Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
Redeem points for travel, cash back, gift cards and more - your points don't expire as long as your account is open
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 $250,000 or a potentially low APR on purchases that helps you carry balances with minimal costs.
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