Review
Updated
Fact Checked
Nathan Alderman
If you're looking for a simple business credit card that offers flat-rate rewards without an annual fee, the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card will meet your needs. This card provides easy unlimited earning with a cash back rate of 1.5%.
Business owners who are Bank of America Preferred Rewards for Business members can earn up to 2.62% cash back when using this card. Read our full review to find out if it's right for you.
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card
Rating image, 4.00 out of 5 stars.
4.00/5
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.
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Rating image, 4.00 out of 5 stars.
4.00/5
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.
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= Best
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= Excellent
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= Good
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= Fair
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= Poor
= Best
= Excellent
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= Fair = Poor
Credit Score
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 0% Introductory APR on purchases for the 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 Earn unlimited 1.5% cash back on all purchases everywhere, every time.
1.5% cash back
Annual Fee
$0.00
Welcome Offer $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
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A simple cash back rewards card for business owners who want to earn unlimited rewards without paying an annual fee.
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- Unlimited cash back with no expiration
- No annual fee
- 0% intro APR
- Foreign transaction fees
- Mediocre incentives
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- 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.
- Earn unlimited 1.5% cash back on all purchases everywhere, every time.
- No annual cap and cash rewards don’t expire.
- No annual fee.
- You can 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 an unlimited 2.62% cash back on all purchases.
- Choose how to redeem your cash rewards – as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you.
- 0% Introductory APR on purchases for the first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.74% - 26.74% will apply.
- 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 Unlimited Cash Rewards review
This credit card is a good fit for: Business owners who want simple, unlimited rewards without paying an annual fee.
Top perks
These are the most notable highlights of the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card.
New cardmember bonus offer
As a new Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card member, you can earn a bonus offer. You'll earn 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.
READ MORE: Best Sign-Up Bonus Credit Cards
0% Intro APR offer on purchases
The Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card has a 0% intro APR offer on purchases. This is valid for the first nine billing cycles. After the promotional period, the go-to variable APR applies.
No annual fee
If you're looking for a business rewards credit card without an annual fee, this credit card fits that requirement. There is no annual fee to use the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card.
Earns rewards
You'll earn a flat 1.5% cash back on purchases made with the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card. There are no purchase categories, so earning is straightforward.
SEE MORE: Best Cash Back Business Credit Cards
Preferred Rewards for Business members can earn up to 75% more rewards
If you're a Preferred Rewards for Business member, you can increase the cash back you get from this credit card. Here's a breakdown of the extra rewards you earn depending on your Preferred Rewards for Business membership tier level:
- Gold: 25% bonus rewards
- Platinum: 50% bonus rewards
- Platinum Honors: 75% bonus rewards
As a Platinum Honors member, you could earn 2.62% cash back by using the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card.
No cap on rewards
When using this credit card, the earning potential is unlimited. There's no spending cap or cap on the rewards you can earn.
Travel and emergency services
While not marketed as a travel card, this credit card comes with travel and emergency services that could be useful if you travel for business purposes. The following benefits are included:
- Travel accident insurance
- Auto rental insurance
- Emergency ticket replacement
- Lost luggage assistance
- Medical referrals when away from home
RELATED: Best Travel Rewards Credit Cards
Alternatives to consider
- If you want a card with a generous bonus offer and no foreign transaction fees: The Capital One Spark 2X Miles has no foreign transaction fees, earns an unlimited 2 miles per $1 spent on purchases, and has a nice sign-up bonus offer. After the first year, this card has a $95 annual fee.
- If you want a business card with more rewards: The Ink Business Cash® Credit Card has a $0 annual fee and earns up to 5% cash back in select spending categories. While it has spending caps for rewards, this card comes with a generous new cardmember bonus offer.
If those cards don't sound like a good fit, check out our full list of credit card reviews to find the right card for you.
As of Apr. 16, 2024
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Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card |
Capital One Spark 2X Miles |
Ink Business Cash® Credit Card |
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Rating image, 4.00 out of 5 stars.
4.00/5
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, 5.00 out of 5 stars.
5.00/5
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
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 |
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Apply Now for Ink Business Cash® Credit Card
On Chase's Secure Website. |
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Credit Rating Requirement:
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:
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:
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) |
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Welcome Offer: $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: Earn a one-time bonus of 50,000 miles – equal to $500 in travel – once you spend $4,500 on purchases within the first 3 months from account opening 50,000 miles |
Welcome Offer: 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 |
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Rewards Program: Earn unlimited 1.5% cash back on all purchases everywhere, every time. 1.5% cash back |
Rewards Program: 2x miles |
Rewards Program: 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 |
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Intro APR: 0% Introductory APR on purchases for the 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: Purchases: N/A Balance Transfers: N/A |
Intro APR: 0% Intro APR on Purchases Purchases: 0% Intro APR on Purchases, 12 months Balance Transfers: N/A |
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Regular APR: 16.74% - 26.74% (Variable) |
Regular APR: 26.24%, variable |
Regular APR: 18.49% - 24.49% Variable |
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Annual Fee: $0.00 |
Annual Fee: $0 intro fee for first year; $95 after that $0 intro fee |
Annual Fee: N/A $0 |
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Apply Now for Ink Business Cash® Credit Card
On Chase's Secure Website. |
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The Capital One Spark 2X Miles is unavailable on The Ascent. All information was collected independently and not reviewed for accuracy or provided by the credit card issuer. Some items may be out of date.
What could be improved
While the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card has many perks, the following drawbacks are worth noting.
Modest new cardmember bonus offer
Like many rewards credit cards, the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card has a bonus offer to attract new cardmembers.
However, the offer is modest: You'll earn 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.
Other business credit cards offer more attractive new cardmember bonus offers, albeit with a higher minimum spend.
3% foreign transaction fee
If you plan to use this credit card while traveling abroad or to make international purchases, you might want to rethink that choice. The Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card has a foreign transaction fee of 3% of the U.S. dollar amount of each transaction.
Every time you use this card to purchase something in a foreign currency, you'll be charged a 3% fee. If you intend to make international purchases with your business credit card, look for a card that has no foreign transaction fees.
Modest rewards rate
The Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card keeps things simple with flat-rate cash back earnings. However, the rewards rate is modest unless you're a Preferred Rewards for Business member.
You can find other rewards cards that offer more than 1.5% cash back.
Suggested credit score
This card is intended for consumers with excellent credit. To have the best chance of getting the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card, you should have a FICO® Score of at least 740. Your credit score isn't the only factor that is considered, so it's possible to get approved with a lower score or be denied with a higher credit score.
Since this is a business credit card, you need to have a business to apply for it. However, various business owners may qualify for this credit card, including small business owners and sole proprietors.
It's worth noting that Bank of America may decline an application if your business already has or has had another Bank of America business card within the previous 24 months.
RELATED: Best Bank of America Credit Cards
The Bank of America Business Advantage Unlimited Cash Rewards is right for you if:
The Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card could be a good option if you are a business owner with excellent credit who banks with Bank of America.
Preferred Rewards for Business members can earn up to 75% more rewards -- meaning eligible business owners could get up to 2.62% cash back on their purchases.
However, this business credit card isn't the best option if you don't have a Bank of America business bank account, since the 1.5% earning rate isn't as competitive as some other business credit cards.
You may want to consider another credit card if any of the following statements are true:
- You want a more generous new cardmember bonus offer.
- You want a card with a higher rewards rate.
- You want a card with no foreign transaction fees.
- You aren't a Bank of America Preferred Rewards for Business member.
Another business credit card may work better for your needs in those cases.
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.
FAQs
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No, all eligible business owners can apply. However, Bank of America customers who are also Preferred Rewards for Business members can earn extra rewards to increase their cash back.
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There are no individual spending categories. Purchases earn a flat 1.5% cash back with no annual cap or expiration.
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The Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card offers flexible redemption options including deposit to Bank of America checking or savings account or cash-out as a statement credit.
Our Credit Cards Experts
Natasha has been a freelance writer since 2015. She specializes in credit card and credit card rewards content. When not busy writing, she's either dreaming up her next credit card rewards redemption or traveling the globe. Her goal is to encourage more people to experience the world around them while making smart financial choices.
Steven is a personal finance writer covering topics from mortgages to credit cards to market news. He has written for The Motley Fool Canada, Ramsey Solutions, Nerdwallet, Clever Real Estate, and other major outlets. Steven launched his writing career at the age of four with his first book, "Revenge of the Bad Guys." He currently lives in Portland, Oregon.
Fact Checked
Nathan Alderman
Nathan Alderman has worked with The Motley Fool since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As The Ascent's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.
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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
Bank of America is an advertising partner of The Ascent, a Motley Fool company. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bank of America, JPMorgan Chase, Mastercard, and Target. The Motley Fool recommends the following options: long January 2025 $370 calls on Mastercard and short January 2025 $380 calls on Mastercard. The Motley Fool has a disclosure policy.
The Motley Fool owns shares of and recommends Mastercard.