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Bank of America Business Advantage Customized Cash Rewards Review: Choose Your 3% Cash Back Category

Review Updated
Lyle Daly
By: Lyle Daly

Our Credit Cards Expert

Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card offers generous cash back rates, especially if you're one of the bank's Preferred Rewards clients. It also starts you off with a welcome bonus offer and doesn't charge an annual fee. Read Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card review to see if you should apply.

Ratings Methodology

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

Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Excellent (740-850)
Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Excellent (740-850)

Intro APR Circle with letter I in it. 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.74% - 26.74% will apply.

Purchases: 0%, 9 billing cycles

Balance Transfers: N/A

Regular APR

16.74% - 26.74% (Variable)

Rewards Circle with letter I in it. 3% cash back in the category of your choice and 2% on dining purchases (on the first $50,000 in these combined purchases each calendar year), and unlimited 1% on all other purchases.

1% - 3% cash back

Annual Fee

$0.00

Welcome Offer Circle with letter I in it. $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening.

$300 cash rewards

  • A no annual fee business card with solid bonus opportunities and a 0% intro APR. Due to the bonus reward limits, it's most useful for businesses with low to moderate monthly spending.

    • No annual fee
    • High rewards rate
    • Intro APR period for purchases
    • Rotating bonus categories
    • Credit worthiness requirements
    • Foreign transaction fee

    • Get a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening – with no annual fee and cash rewards don't expire.
    • 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.
    • 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.74% - 26.74% will apply.
    • Redeem your cash back as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you.
    • Earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to 5.25% in your selected choice category and up to 3.5% on dining purchases on the first $50,000 in those combined purchases each calendar year, and up to an unlimited 1.75% cash back on all other purchases.
    • Contactless Cards - The security of a chip card, with the convenience of a tap.
    • This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.

Full Bank of America Business Advantage Customized Cash Rewards review

This credit card is a good fit for: Business owners who want to choose where they earn bonus cash back. It also provides excellent value for those in the Bank of America Preferred Rewards program.

Top perks

This cash back card has all the most important benefits you'd expect, including a sign-up bonus and bonus cash back opportunities.

$300 online statement credit bonus offer

You can earn a $300 statement credit after you make $3,000 in purchases with this card within the first 90 days. This is one of the easier business card bonuses to get, as it only requires about $1,000 in spending per month. The statement credit is applied directly to your account.

0% Intro APR offer

This card has a 0% intro APR on purchases for the first nine billing cycles, so it's a good choice for business expenses that you'll need some time to pay off. The standard variable APR applies after those nine billing cycles. To avoid interest charges, make sure to pay off your full balance during the intro period.

Up to 3% cash back

This Bank of America business credit card earns:

  • 3% cash back in the category of your choice: gas stations (default), office supply stores, travel, TV/telecom and wireless, computer services, or business consulting services
  • 2% cash back on dining
  • 1% cash back on other purchases

The 2% and 3% rates apply on up to $50,000 in combined choice category and dining purchases per calendar year. After that, you earn 1% back in those categories. The bonus rates are competitive with other top business credit cards that don't charge an annual fee.

Read more: Best Cash Back Business Credit Cards

Bonus rewards for Preferred Rewards clients

One of the more valuable benefits Bank of America offers is its Preferred Rewards program. If you use it for banking or investing and you meet minimum balance requirements, you can get a credit card rewards bonus of 25% to 75%. In the highest tier (which requires $100,000 in qualifying balances), you'd be earning 5.25% cash back in a category of your choice instead of 3%.

Learn more: A Complete Guide to Bank of America Preferred Rewards

Travel protections

This Bank of America credit card includes the following travel protections on eligible purchases:

  • Travel accident insurance
  • Auto rental insurance
  • Emergency ticket replacement
  • Lost luggage assistance

See more: Best Travel Rewards Credit Cards

Alternatives to consider

If you want a bigger sign-up bonus: The Ink Business Cash® Credit Card starts you off with a generous amount of bonus cash back after you spend a set amount in the first three months. It also offers high cash back rates, with bonuses in several different spending categories.

If you want bonus rewards with higher spending caps: The American Express Business Gold Card earns 4 points per $1 in two spending categories where your business spends the most money each billing cycle. Although this card has an expensive annual fee, the bonus rate applies on up to $150,000 in purchases per calendar year.

Read more: Best Rewards Credit Cards

As of Apr. 16, 2024
Image for
Image for
Image for

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

 Ink Business Cash® Credit Card

American Express Business Gold Card
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.25 out of 5 stars.
4.25/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Apply Now for Ink Business Cash® Credit Card

On Chase's Secure Website.

Read Review

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Excellent (740-850)

Excellent (740-850)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Welcome Offer: Circle with letter I in it. $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening.

$300 cash rewards

Welcome Offer: Circle with letter I in it. Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening.

Earn up to $750 bonus cash back

Welcome Offer: Circle with letter I in it. 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership

70,000 Membership Rewards® points

Rewards Program: Circle with letter I in it. 3% cash back in the category of your choice and 2% on dining purchases (on the first $50,000 in these combined purchases each calendar year), and unlimited 1% on all other purchases.

1% - 3% cash back

Rewards Program: Circle with letter I in it. Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.

Earn 5% cash back in select business categories

Rewards Program: Circle with letter I in it. 4 points per $1 in two of the following categories where you spend most: gas, dining, advertising, transit, electronics & wireless ($150,000 annual spending cap). 3 points per $1 on flights and prepaid hotels booked on AmexTravel.com. 1 point per $1 on other purchases

1x - 4x points

Intro APR: Circle with letter I in it. 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.74% - 26.74% will apply.

Purchases: 0%, 9 billing cycles

Balance Transfers: N/A

Intro APR: Circle with letter I in it. 0% Intro APR on Purchases

Purchases: 0% Intro APR on Purchases, 12 months

Balance Transfers: N/A

Intro APR:

Purchases: N/A

Balance Transfers: N/A

Regular APR:

16.74% - 26.74% (Variable)

Regular APR:

18.49% - 24.49% Variable

Regular APR:

19.49%-27.49%, variable

Annual Fee:

$0.00

Annual Fee: Circle with letter I in it. N/A

$0

Annual Fee:

$295

Highlights:

  • Get a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening – with no annual fee and cash rewards don't expire.
  • 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.
  • 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.74% - 26.74% will apply.
  • Redeem your cash back as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you.
  • Earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to 5.25% in your selected choice category and up to 3.5% on dining purchases on the first $50,000 in those combined purchases each calendar year, and up to an unlimited 1.75% cash back on all other purchases.
  • Contactless Cards - The security of a chip card, with the convenience of a tap.
  • This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.

Highlights:

  • Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening
  • Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
  • Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
  • 10% Business Relationship Bonus If you have the Ink Business Cash card plus a Chase Business Checking account on your first card anniversary
  • With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
  • No Annual Fee
  • Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
  • 0% introductory APR for 12 months on purchases
  • Member FDIC

Highlights:

  • Welcome Offer: Earn 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.
  • MORE REWARDS: Get 4X Membership Rewards® points on the 2 select categories where your business spent the most each month. Earn 3X points on flights & pre-paid hotels booked on AmexTravel.com. 1X is earned for other purchases.
  • 4X points apply to the first $150,000 in combined purchases from these 2 categories each calendar year.
  • AIRLINE BONUS: Get 25% points back after you use points for all or part of an eligible flight booked with Amex Travel, up to 250,000 points back per calendar year.*
  • Terms Apply
Apply Now for Ink Business Cash® Credit Card

On Chase's Secure Website.

Show More Arrow graphic to expand and collapse content Show Less Arrow graphic to expand and collapse content

What could be improved

There are a few drawbacks you should know about before applying for this business credit card.

Spending cap on bonus rewards

Bonus cash back rates apply on up to $50,000 in purchases per calendar year. For businesses that spend more, that could be an issue. You may be better off reading more credit card reviews and choosing a different business card, possibly even one with an annual fee, if it means that you'll earn more bonus rewards.

Sign-up bonus amount

The statement credit of $300 that this card offers is reasonable and has a fairly low spending requirement. However, there are other business credit cards with much bigger sign-up bonuses. These could provide more total value for businesses that spend more.

Related: Best Sign-Up Bonus Credit Cards

Foreign transaction fee

International transactions carry an additional fee of 3% of the transaction amount in U.S. dollars. If you do any traveling outside of the country, a card with no foreign transaction fee is a must, because those extra charges can add up quickly.

No balance transfer offer

While this Bank of America business card has a 0% intro APR offer, it doesn't have one on balance transfers. A 0% balance transfer APR is useful for paying off credit card debt.

Suggested credit score

A FICO® Score of 720 or higher is recommended to get Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card. Although there's no set minimum, most approved applicants have scores in the excellent credit range. If you're not there yet, consider taking a few steps to raise your credit score first.

Learn more: How to Build Credit Fast

The Bank of America Business Advantage Customized Cash Rewards is right for you if:

You're able to take advantage of any of its 3% cash back categories. As a general guideline, you'll get plenty of value from this card if you spend anywhere from about $1,000 to $4,000 in one of its 3% back categories per month.

This card is also a great choice if you're in the Bank of America Preferred Rewards program. The rewards bonus you get through that program can easily make this one of the best credit card options we've come across.

Read more: Best Bank of America Credit Cards

Our credit card methodology

At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.

Our Credit Cards Expert

Lyle Daly
By: Lyle Daly

Writer

Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.