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Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card review
Earn 3% cash back on an eligible category of your choosing each month.
finder.com’s rating: 4.4 / 5
★★★★★
- Get this card if your business spends thousands of dollars on any of the 3% cashback categories.
- Pick something else if you’re looking for travel rewards or a low balance transfer intro APR.
- Apply for this card with an excellent credit score of 740 or higher.
$300
Welcome offer
Up to 3%
Cash back
$0
Annual fee
0%
Intro purchase APR
for the first 9 billing cycles (then 12.99% to 22.99% variable)
Details
| Annual fee | $0 |
|---|---|
| Welcome offer | $300 statement credit online bonus after making at least $3,000 in net purchases in the first 90 days of account opening |
| Rewards | 3% and 2% cash back on the first $50,000 in combined choice category / dining purchases each calendar year, 1% thereafter |
| Purchase APR | 0% intro for the first 9 billing cycles (then 12.99% to 22.99% variable) |
| Balance transfer APR | 12.99% to 22.99% variable |
| Minimum Credit Score | 740 |
| Issuer | Mastercard |
Review by
Kliment Dukovski
kliment.dukovski@findercrew.comKliment Dukovski is a cryptocurrency and investments writer who has written over 700 articles to help readers find and compare the best financial options. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange and stock market trading.
Expert review
The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card is a business cashback card with a little added flexibility. It charges a $0 annual fee and comes with a rewards rate of 3% cash back on a category you choose each month, 2% cash back on dining up to $50,000 annually in combined purchases and 1% after that and on all other purchases.
Like several other Bank of America cashback cards, if you’re a member of Business Advantage Relationship Rewards and meet the requirements, you’re eligible for an additional 25% to 75% reward bonus on every purchase. Meeting the highest level of this requirement is no small feat, but typically results in incredibly powerful cashback potential that outstrips other top performing cards.
Other cool benefits include a solid signup bonus of $300 after you spend $3,000 on purchases in your first 90 days and a 0% intro APR period on purchases for your first 9 billing cycles. After the intro period, your purchase APR will be 12.99% to 22.99% variable. The only downside is that you pay a 3% fee every time you use your card abroad or online with foreign merchants.
All this makes the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card an excellent choice for your business if you spend up to $50,000 each year in any of the 3% cashback categories and don’t mind investing your funds into the Bank of America requirements for the Advantage program.
Finder experts pick Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card as a 2021 best product for credit cards.
How to apply for the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card
- Go to the provider's site and select Apply now.
- Log in to your account if you’re a Bank of America customer. Otherwise, start your application.
- Complete the application with details about you, your business and any employees you authorize to use your card.
- Review and submit your application.
What credit score do I need?
Increase your chances of approval with an excellent credit score of 740 or higher.
Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card benefits
- Cash back. Choose one category each calendar month — gas stations, office supply stores, travel, telecom and wireless, computer services or business consulting services — to earn 3% cash back. Earn 2% cash back on dining. However, you’re capped at $50,000 annually in combined purchases in both 2% and 3% categories. After that, and on all other purchases, earn 1% cash back.
- Intro APR on purchases. If you’re planning to buy big items, save on interest with 0% introductory purchase APR for the first 9 billing cycles after account opening. After, the purchase APR reverts to 12.99% to 22.99% variable.
- No annual fee. Maximize your cashback benefits without paying an annual fee.
- Signup bonus. Receive $300 in statement credit after you spend $3,000 on purchases in the first 90 days your account is open.
- Cashback boost. With the Business Advantage Relationship Rewards program, you can boost your cashback rate up to 75%. This translates to 5.25% from 3% and 3.5% from 2%. All other purchases go up to 1.75% cash back.
Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card drawbacks
- Foreign transaction fees. If you travel abroad often, you may want to use another card. This one charges a fee equal to 3% of the US dollar amount on all foreign transactions.
- No intro APR period on balance transfers. You get a long 0% intro APR period on purchases, but you don’t get the same offer on balance transfers. If that’s what you need, compare balance transfer business credit cards.
What is the Business Advantage Relationship Rewards program?
Bank of America offers this program to boost small businesses, helping you take advantage of rewards and benefits that grow as you increase balances across BoA business and Merrill Edge or Merrill Lynch investment accounts.
To join this program, you must own eligible Bank of America business accounts averaging a combined balance of $20,000 or more over three months.
Benefits of Business Advantage Relationship Rewards include:
- No fees on select everyday banking services.
- A 25% to 75% reward bonus on base earnings for eligible business cards.
- An interest rate discount of up to 0.75% on a business advantage credit line, term loan or secured lending.
- An interest rate discount of up to 0.50% on business advantage auto loans and commercial real estate loans.
- Priority client service and Merrill Edge advising.
Compare business credit cards
For a better idea of how the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card stands up against competing business credit cards, select up to four cards and choose Compare to see them side by side.
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Bottom line
If your business regularly spends on any of the 3% cashback categories, you could see a rewarding benefit with this card. A 0% intro APR on purchases for the first 9 billing cycles only sweetens the deal, especially if you have your eye on a large company purchase. Your rate reverts to a variable 12.99% to 22.99% APR thereafter.
Apply today if the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card sounds like a snug fit for your business. If not, there’s likely another business credit card with tailored rewards for the way your company spends.
Credit card ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our team evaluates credit cards to determine their value against similar cards on the market.
We rank card types — travel, cash back, business — on a set of factors that are most relevant to that type of card. We create these rankings to help you narrow down a credit card that best suits your spending and budget.