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Bank of America® Business Advantage Cash Rewards Mastercard® credit card Review

Bank of America® Business Advantage Cash Rewards Mastercard® credit card
This card is not available through ValuePenguin.
Bank of America® Business Advantage Cash Rewards Mastercard® credit card
This card is not available through ValuePenguin.

Bank of America® Business Advantage Cash Rewards Mastercard® credit card Review

Editor's Rating: 4.0/5.0
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

Editor's Rating

{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

4.0/5.0

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer.

The Bank of America® Business Advantage Cash Rewards Mastercard® credit card is one of Bank of America's premier credit cards. This cash-back card is best for businesses that spend a lot at gas stations and office supply stores. That said, the card can also be highly lucrative for any business simply looking for a cash-back card. If you're an existing Bank of America customer, we recommend applying for the Bank of America® Business Advantage Cash Rewards Mastercard® credit card. Even if you're not, read on to see if the card makes sense for your business.

Bank of America® Business Advantage Cash Rewards Mastercard® credit card Review: What You Need to Know

Bank of America® Business Advantage Cash Rewards Mastercard® credit card
This card is not available through ValuePenguin.
Bank of America® Business Advantage Cash Rewards Mastercard® credit card
This card is not available through ValuePenguin.

Bank of America® Business Advantage Cash Rewards Mastercard® credit card

Bank of America® Business Advantage Cash Rewards Mastercard® credit card
This card is not available through ValuePenguin.
Bank of America® Business Advantage Cash Rewards Mastercard® credit card
This card is not available through ValuePenguin.
Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening
  • Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening – with no annual fee, no cap on the amount of cash rewards you can earn and they don't expire.
  • Earn 3% cash back on your choice of one of the following six categories: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter) and 1% cash back on all other purchases.
  • 0% Introductory APR on purchases for your first 9 billing cycles.
  • Redeem your cash rewards as a statement credit, check, or have cash deposited into a Bank of America® checking or savings account.
  • Get a 75% rewards bonus on every purchase when you’re a Business Advantage Relationship Rewards Platinum Honors tier client. That means you will earn 5.25% on your selected choice category, 3.5% on dining and unlimited 1.75% cash back on all other purchases.
  • Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening – with no annual fee, no cap on the amount of cash rewards you can earn and they don't expire.
  • Earn 3% cash back on your choice of one of the following six categories: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter) and 1% cash back on all other purchases.
  • 0% Introductory APR on purchases for your first 9 billing cycles.
  • Redeem your cash rewards as a statement credit, check, or have cash deposited into a Bank of America® checking or savings account.
  • Get a 75% rewards bonus on every purchase when you’re a Business Advantage Relationship Rewards Platinum Honors tier client. That means you will earn 5.25% on your selected choice category, 3.5% on dining and unlimited 1.75% cash back on all other purchases.
Annual Fee
$0.00
Regular APR
See Terms
Credit Needed
{"onCurrent":true,"message":"There are various types of credit scores. Each creditor uses a variety of different types of credit scores to make lending decisions."}
Excellent
Editor's Rating
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

Our Thoughts

The Bank of America® Business Advantage Cash Rewards Mastercard® credit card offers 3% cash back at your choice of the following six categories: gas stations, office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter) and 1% cash back on all purchases.

Where the Card Could Do Better

The Bank of America® Business Advantage Cash Rewards Mastercard® credit card packs an unimpressive sign-up bonus of a $300 statement credit when you make at least $3,000 in net purchases within 90 days of account opening. It's quite typical for business cards to offer around $500 as a sign-up bonus.

Bottom Line

The Bank of America® Business Advantage Cash Rewards Mastercard® credit card is one of the better business cash-back cards available. That said, it's best for businesses with very specific spending needs. If you're interested in reading more about other Bank of America business cards, you can read our full roundup here, or you can read our best small-business card roundup here.

How Does the Bank of America® Business Advantage Cash Rewards Mastercard® credit card Compare to Other Cards?

While the Bank of America® Business Advantage Cash Rewards Mastercard® credit card is a great card, we always advocate for consumers to shop around and compare different credit card offers. Below, we provide other cards that may be more lucrative for your business.

A Great Choice for Businesses That Travel: Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
This card is not available through ValuePenguin.
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
This card is not available through ValuePenguin.

Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
This card is not available through ValuePenguin.
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
This card is not available through ValuePenguin.
Earn 25,000 bonus points when you make at least $1,000 in net purchases in the first 60 days of your account opening which can be redeemed for a $250 statement credit towards travel purchases
  • Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend. Points don't expire.
  • Earn 25,000 bonus points when you make at least $1,000 in net purchases within 60 days of your account opening which can be redeemed for a $250 statement credit towards travel purchases.
  • Earn 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center - powered by Expedia®.
  • No annual fee and no international transaction fees.
  • 0% Introductory APR on purchases for your first 9 billing cycles.
  • Redeem points for travel with no blackout dates, cash back or gift cards.
  • Get a 75% rewards bonus on the base earn of every purchase you make when you’re a Business Advantage Relationship Rewards Platinum Honors tier client. That means you will earn 2.62 points for every $1 you spend and 4.12 points per every $1 you spend at the Bank of America® Travel Center.
  • Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend. Points don't expire.
  • Earn 25,000 bonus points when you make at least $1,000 in net purchases within 60 days of your account opening which can be redeemed for a $250 statement credit towards travel purchases.
  • Earn 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center - powered by Expedia®.
  • No annual fee and no international transaction fees.
  • 0% Introductory APR on purchases for your first 9 billing cycles.
  • Redeem points for travel with no blackout dates, cash back or gift cards.
  • Get a 75% rewards bonus on the base earn of every purchase you make when you’re a Business Advantage Relationship Rewards Platinum Honors tier client. That means you will earn 2.62 points for every $1 you spend and 4.12 points per every $1 you spend at the Bank of America® Travel Center.
Annual Fee
$0.00
Regular APR
See Terms
Credit Needed
{"onCurrent":true,"message":"There are various types of credit scores. Each creditor uses a variety of different types of credit scores to make lending decisions."}
Excellent
Editor's Rating
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

Our Thoughts

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is a very straightforward card, as it earns businesses 3 points per dollar spent on travel purchases through the BoA Travel Center and 1.5 points per dollar spent on all other purchases. This means, at the very worst, your purchases will yield a 1.5% rewards rate. This card is great for businesses with varied expenses.

Unlike the Bank of America® Business Advantage Cash Rewards Mastercard® credit card, the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card doesn't have foreign transactions fees, making it the perfect travel card for your business. Furthermore, it also doesn't have an annual fee. While it's marketed as a travel card, points can also be redeemed for cash back. Therefore, the card is quite flexible in terms of how it can be utilized.

High Cash-Back Rewards: Capital One® Spark® Cash for Business

On Capital One's Secure Website

Capital One® Spark® Cash for Business

On Capital One's Secure Website
Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
  • Earn unlimited 2% cash back for your business on every purchase, everywhere
  • Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
  • $0 annual fee for the first year; $95 after that
  • $0 Fraud Liability if your card is lost or stolen
  • Free employee cards, which also earn unlimited 2% cash back on all purchases
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount

Note: The information in this box was provided by Capital One and is not part of our independent analysis.

  • Earn unlimited 2% cash back for your business on every purchase, everywhere
  • Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
  • $0 annual fee for the first year; $95 after that
  • $0 Fraud Liability if your card is lost or stolen
  • Free employee cards, which also earn unlimited 2% cash back on all purchases
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
Annual Fee
$0 intro for first year; $95 after that
Regular APR
18.74% (Variable)
Credit Needed
{"onCurrent":true,"message":"There are various types of credit scores. Each creditor uses a variety of different types of credit scores to make lending decisions."}
Excellent, Good
Editor's Rating
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

Our Thoughts

Right off the bat, prospective applicants should know that the Capital One® Spark® Cash for Business has a $95 annual fee, although it's waived in the first year. In return for the annual fee, the card offers users the ability to earn 2% cash back on all purchases, which is among the highest flat cash-back rates available. There are no categories to keep track of, meaning the card is just as effective at rewarding users no matter what you purchase.

In terms of a sign-up bonus, the card offers $500 cash after you spend $4,500 within three months of account opening. That's on par with some of the higher cash-back bonuses available for business cards. That said, it's also one of the higher spending requirements we've seen. You can also get free employee cards and earn rewards for their spending; however, you'll be responsible for the expenses put on the cards.

No Annual Fee: Capital One® Spark® Cash Select for Business

On Capital One's Secure Website

Capital One® Spark® Cash Select for Business

On Capital One's Secure Website
One time bonus of $200 once you spend $3,000 in the first 3 months
  • Earning unlimited 1.5% cash back could mean thousands of dollars each year going back into your business
  • Plus, a one-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening
  • Save on interest with 0% intro APR on purchases for 9 months; 14.74% - 22.74% variable APR after that
  • No annual fee
  • Use Spark Cash Select across all your business spend, with no categories to limit your purchasing
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • Get employee cards at no additional cost, and earn rewards from their business spend

Note: The information in this box was provided by Capital One and is not part of our independent analysis.

  • Earning unlimited 1.5% cash back could mean thousands of dollars each year going back into your business
  • Plus, a one-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening
  • Save on interest with 0% intro APR on purchases for 9 months; 14.74% - 22.74% variable APR after that
  • No annual fee
  • Use Spark Cash Select across all your business spend, with no categories to limit your purchasing
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • Get employee cards at no additional cost, and earn rewards from their business spend
Annual Fee
$0
Regular APR
14.74% - 22.74% (Variable)
Credit Needed
{"onCurrent":true,"message":"There are various types of credit scores. Each creditor uses a variety of different types of credit scores to make lending decisions."}
Excellent, Good
Editor's Rating
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

Our Thoughts

The Capital One® Spark® Cash Select for Business can be thought of as a truncated version of the Capital One® Spark® Cash for Business. Unlike the Capital One® Spark® Cash for Business, the Capital One® Spark® Cash Select for Business doesn't have an annual fee. However, it also only awards 1.5% cash back on all purchases. The card also has a smaller sign-up bonus of $200 provided you spend $3,000 within three months of account opening. Just know that if you spend $19,000 or more every year, the extra 0.5% cash-back rate on the Capital One® Spark® Cash for Business makes up for the card's annual fee.

While a 1.5% cash-back rate is decent, it's worth nothing that higher cash-back rates can be achieved. However, most of the time, higher cash-back rates are limited to certain categories. Even then, issuers will impose a rewards threshold in said categories. If you're simply looking for a cash-back credit card with no annual fee, the Capital One® Spark® Cash Select for Business should be among cards that you consider.

Comments and Questions

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).

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