Bank of America® Business Advantage Cash Rewards Mastercard® Credit Card Review

By Christina Majaski. Last updated 2 January 2019. 0 comments

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Despite being a relative newcomer to the small business credit card scene, the Bank of America® Business Advantage Cash Rewards Mastercard® credit card provides a number of helpful business-related perks and benefits as well as a rewards program that offers points on everyday business purchases. If you are a small business owner whose purchases fall into this card’s bonus categories, the cash rewards earned with this card can add up quickly. (See also: The 5 Best Credit Cards for Small Businesses)

How This Card Works

This card awards 3% cash back on purchases at gas stations and office supply stores (up to $250,000 in combined purchases each calendar year, 1% after that), 2% on purchases at restaurants, and 1% on all other purchases.

Online Exclusive Offer: Get a $200 statement credit when you make at least $500 in net purchases within 60 days of your account opening.

You can redeem your cash rewards for cash back or request deposits into a Bank of America® checking or savings account, starting at $25.

Other Benefits

Overdraft protection. You can request to link your card to your Bank of America® business checking account for overdraft protection, which allows the bank to cover overdrafts and automatically transfer funds in multiples of $100. This benefit can save you in returned check fees and overdraft fees.

Account management tools. This card also includes tools for organizing and managing your business easier, including automatic payments, transfers and downloading transactions into QuickBooks.


  • $0 Annual Fee
  • 0% Intro APR for purchases for the first 9 billing cycles. (Then, 13.49%-23.49% variable APR)
  • Balance transfers: 13.49%-23.49% variable APR
  • 4% Balance Transfer Fee ($10 minimum)
  • 3% Foreign Transaction Fee


Online exclusive bonus. This card offers an opportunity to earn a $200 statement credit if you make at least $500 in net purchases with your card within the first 60 days of opening the account. Although this isn't the highest bonus, it only requires spending $500 in about two months, which is fairly low among these types of offers. (See also: 5 Best Credit Cards That Offer Bonus Cash for Sign Up)

High rate of rewards. Although this card caps the 3% category at $250,000 per year, it allows you to spend almost $21,000 per month in gas stations and office supply stores. This is one of the highest rates of rewards for these categories, even with the annual cap. Plus, you earn unlimited 2% cash back in the restaurant and dining category, which can add up especially if your business requires you or your employees to eat frequently in restaurants. And if you're a Business Advantage Relationship Rewards client, you can get a 25% - 75% rewards bonus on the base earn of every purchase you make. (See also: 5 Best Credit Cards for Office Supply Purchases)

Who This Card Is Best For

The Bank of America® Business Advantage Cash Rewards Mastercard® credit card offers numerous business benefits, as well as an opportunity to earn cash back on some of the most common types of small business purchases. This card is most ideal for small business owners whose spending falls most often in the restaurant, gasoline, and office supply categories, and it's even more ideal if your gasoline and office supply purchases don't exceed $250,000 per year due to the cap on the 3% category.

Click here to learn more and apply for the Bank of America® Business Advantage Cash Rewards Mastercard® credit card today!

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