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

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

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

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

Our Thoughts

The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card offers Earn 3% cash back in the category of your choice, 2% cash back on dining purchases and unlimited 1% cash back on all other purchases. You'll earn 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.

Where the Card Could Do Better

The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card packs an unimpressive sign-up bonus of a $300 statement credit after you make at least $3,000 in net purchases in the first 90 days of your 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 Customized 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 Customized Cash Rewards Mastercard® credit card Compare to Other Cards?

While the Bank of America® Business Advantage Customized 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

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 every dollar spent on travel purchases (car, hotel, airline) booked through 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. 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 Customized 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 (but be aware points have less value when redeemed as cash back than when redeemed for travel). Therefore, the card is quite flexible in terms of how it can be utilized.

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

Our Thoughts

Right off the bat, prospective applicants should know that the Capital One Spark Cash for Business has a $0 intro for first year; $95 after that annual fee. In return for the annual fee, the card offers users the ability to earn 2% Cash Back for your business on every purchase, everywhere, 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, Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from 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.

$0 Annual Fee: Capital One Spark Cash Select - $500 Cash Bonus

On Capital One's Secure Website

Our Thoughts

The Capital One Spark Cash Select - $500 Cash Bonus 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 - $500 Cash Bonus doesn't have an annual fee. However, it also only awards 1.5% Cash Back on every purchase. 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 $0 annual fee, the Capital One Spark Cash Select - $500 Cash Bonus should be among cards that you consider.

The information related to Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.

The Capital One Spark Cash for Business card may no longer be available.

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.

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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).