Bank of America Business Advantage Unlimited Cash Rewards Mastercard Credit Card Overview
He Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® Credit Card It’s a business-friendly option that earns 1.5% cash back on every purchase. If you qualify for Bank of America’s Preferred Rewards® for Business program, you could earn up to 2.62% cash back on all purchases, one of the highest flat earning rates available on a cash back business card. The best part? There is no annual fee. Card rating*: ⭐⭐⭐½
*Card rating It is based on the opinion of TPG editors and is not influenced by the card issuer.
When it comes to owning and running a business, the last thing you want to do is overcomplicate your finances. Because of this, a card like the Bank of America Business Advantage Unlimited Cash Rewards Card It’s a good way to earn cash back rewards on your business expenses with no annual fee.
TPG recommends that applicants have a credit score of 740 or higher to increase your chances of approval for this card. Let’s dive into the benefits of the card and see if it’s right for your business.
Related: Everything you need to know about the Bank of America Preferred Rewards program
BofA Business Advantage Unlimited Pros and Cons
| Advantages | Cons |
|---|---|
|
BofA Business Advantage Unlimited Welcome Offer
He BofA Unlimited Trading Advantage currently offering a $500 online cash rewards bonus after you spend $5,000 on purchases within the first 90 days of opening your account.
This is a relatively easy welcome bonus to obtain, although not as lucrative as many travel business cards. Either way, it’s $500 back to your company’s bottom line.
Related: Best Time to Apply for These 9 Popular Travel Credit Cards Based on Offer History
BofA Business Advantage Unlimited Benefits
He BofA Business Advantage Unlimited The main goal is to provide business owners with an easy way to get cash back on all their expenses. In turn, it lacks some of the benefits you may see in premium travel business cards.
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some worth mentioning Travel benefits and emergency services. With this card it includes:
- $100,000 in travel accident insurance
- Emergency ticket replacement
- Legal and medical references when you are away from home
- Assistance for lost luggage
- Secondary car rental insurance
However, this card has a disadvantage: it charges 3% foreign transaction fee on purchases made abroad, so you’ll want to use another card when traveling outside the US.
Related: Foreign transaction fees: everything you need to know
Earn cash back with BofA Business Advantage Unlimited
The main value of this card comes from its sheer simplicity: cardholders earn 1.5% cash back on all purchases, with no limit on the amount of cash back they can earn.
This card becomes even more valuable to existing Bank of America customers thanks to the Business Preferred Rewards Program. To qualify, you need an active, eligible Bank of America business checking account and a combined three-month average daily balance of at least $20,000 in your qualified Bank of America business deposit or Merrill business investment accounts.
| Preferred rewards for the Enterprise level | Required assets | Credit card bonus | Bonus with Bank of America Business Advantage Unlimited |
|---|---|---|---|
|
$20,000-$49,999 |
25% bonus |
Earn 1,875% cash back on all purchases |
|
|
$50,000-$99,999 |
50% bonus |
Earn 2.25% Cash Back On All Purchases |
|
|
$100,000+ |
75% bonus |
Earn 2.62% Cash Back On All Purchases |
While the BofA Unlimited Trading Advantage is a solid no-annual-fee option for many business owners, the ability to earn up to 2.62% cash back on everything makes it especially intriguing for those who already have business and investment bank accounts at Bank of America.
Related: Best Bank of America Credit Cards
Redeem cash back at BofA Business Advantage Unlimited
There are three ways to redeem your cash rewards from the BofA Unlimited Trading Advantage card:
- Deposit into your Bank of America checking or savings account
- Redeem for a statement credit
- Choose to have a check mailed to you
Your rewards do not expire while your credit card account is open.
Related: Why you might want a cash back card
What cards compete with BofA Business Advantage Unlimited?
He business card market You also have competitive options from other banks, so it’s worth evaluating your options. Here’s a look at other cards to consider:
Related: Chase Ink Business Preferred vs. Ink Business Unlimited: Which Ink Card is Best for Your Business?
Is BofA Business Advantage Unlimited worth it?
He BofA Unlimited Trading Advantage Card is a simple, hassle-free business credit card that gives business owners peace of mind when making every transaction. It’s best for those who already have Bank of America accounts and qualify for Preferred Rewards for Business. However, this card lacks bonus categories, premium benefits, and the ability to transfer rewards to airlines or hotels.
In a nutshell
Certain businesses prefer cash back to points and miles for an easier way to earn rewards for your business spending. That way, business owners can spend their rewards exactly how they want and reduce their overall business expenses.
He Bank of America Business Advantage Unlimited Cash Rewards is an accessible and simple business card that makes it a great starter card for many small business owners.
Apply here: Bank of America Business Advantage Unlimited Cash Rewards Mastercard
