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The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card stands out as one of the few business cards to offer a $0 annual fee, cash back rewards, and insurance and travel protections. If your spending patterns fluctuate from time to time, you’ll love that this card lets you choose from six different cash back categories. There’s also an intro APR period that can help finance a big-ticket purchase.
Additionally, there’s a way to earn up to 75% more cash back rewards by having a qualifying Bank of America checking account.
Not the right card for you? See the best business credit cards.
annual fee
Many business cards have annual fees around $95, with some, like the The Business Platinum Card® from American Express costing $695 per year (see rates & fees). The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card charges a $0 annual fee.
Intro APR
If your business needs to finance a big-ticket item, this card can help you manage cash flow while paying it off over time. Use the 0% Introductory APR on purchases for the first 9 billing cycles. After that, a 17.99% - 27.99% Variable APR applies. Not all business credit cards provide intro offers on purchases, and they tend to be much shorter than those offered by personal 0% APR credit cards.
Sign-up bonus
The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card comes with a generous sign-up bonus. You get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening. This amounts to spending about $1,000 per month for three months, which is very attainable for many businesses.
Like personal credit cards, not all business credit cards come with sign-up bonuses. The Ink Business Cash® Credit Card has a higher spending threshold that comes with a slightly higher bonus, but the Capital One Spark Classic for Business doesn’t have a bonus at all.
Solid rewards program with elevated rewards in the category of your choice
This card’s rewards program is uniquely flexible. You’ll earn 3% cash back in the category of your choice (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter), 2% cash back on dining purchases (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter) and 1% cash back on all other purchases. Options for your 3% cash back category include the following:
To change your choice category (up to once each calendar month), you can log in to your small business online banking account or the mobile banking app. Your category stays the same unless you change it.
Earn more with a qualified Bank of America business checking account
With the Preferred Rewards for Business program, you can earn 25% to 75% more cash back (enrollment required) with a qualified business checking account.
To qualify for enrollment, you need to meet the average daily balance threshold for one of the three tiers, which start at a minimum of $20,000. So while it might not be the right checking account for some, it’s a valuable perk if you keep a significant amount of money, like your emergency fund, in your deposit account.
| Earnings boost | Cash back in the category of your choice | Cash back on dining | Cash back all other purchases | |
|---|---|---|---|---|
| No accounts or combined balances under $20,000 | None | 3% | 2% | 1% |
| Gold (combined balances of $20,000 to $49,999) | 25% boost | 3.75% | 2.5% | 1.25% |
| Platinum (combined balances of $50,000 to $99,999) | 50% boost | 4.5% | 3% | 1.5% |
| Platinum Honors (combined balances of $100,000 or more) | 75% boost | 5.25% | 3.5% | 1.75% |
Note that the $50,000 annual spending cap on the elevated cash back rate still applies.
Travel and emergency services
It’s uncommon for a $0 annual fee credit card to offer much by way of travel and emergency services, but the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card offers several protections. Cardholders receive:
Complex rewards program
For some, the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card’s rewards program is a bit overwhelming, as there are various categories, cash back rates and a cap on earning elevated rewards. If the rewards cap isn’t too low for your typical spending, consider The American Express Blue Business Cash™ Card, which offers a flat rate on all eligible purchases.
Foreign transaction fee
You should avoid using this card if your business requires you to travel abroad or if you use your credit card to buy from international suppliers. Since this card has a $0 annual fee, you could consider pairing it with another business card that does have an annual fee. The United℠ Business Card and Ink Business Preferred® Credit Card both charge annual fees but do not assess foreign transaction fees.
| Credit Cards | Our Ratings | Welcome Offer | Rewards Rate | Annual Fee | |
|---|---|---|---|---|---|
|
Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card*
|
Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening. | Earn 3% cash back in the category of your choice (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter), 2% cash back on dining purchases (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 | ||
Ink Business Cash® Credit Card
 Apply Now
on Chase's secure site |
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 card purchases with no limit to the amount you can earn. | $0 |
Apply Now
on Chase's secure site |
|
Ink Business Preferred® Credit Card
Apply Now
on Chase's secure site |
Earn 90,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. | Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases-with no limit to the amount you can earn. | $95 |
Apply Now
on Chase's secure site |
|
The American Express Blue Business Cash™ Card*
|
Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months. | Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% | No annual fee |
The card has a $0 annual fee and comes with a generous sign-up bonus. It has a longer intro APR than the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card. The Ink Business Cash® Credit Card offers a 0% Intro APR on Purchases for 12 months, after which a 17.74% - 25.74% Variable APR applies.
Rewards are earned as Chase Ultimate Rewards® points, which are very flexible. You can redeem them as cash back or other options, including travel or gift cards.
The main drawback is that elevated rewards are capped at $25,000 in spending, whereas the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card has a $50,000 cap. The Ink Business Cash® Credit Card also charges foreign transaction fees, so use a different card when business travel takes you outside the United States
You earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases-with no limit to the amount you can earn.
To increase the value of your points, redeem them for travel with Chase Travel™. You’ll get 25% more value, so $100 in rewards nets you $125 in travel.
While there’s no foreign transaction fee, there’s no introductory APR on purchases, which means you need to pay your statement balance in full every month or else you’ll pay interest charges on your purchases.
Like the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card, there’s a no annual fee and an intro offer on new purchases. Cardholders get an intro APR of 0% on purchases for 12 months from date of account opening, followed by a 17.74% - 25.74% Variable APR (see rates & fees).
If you need the flexibility to change earning categories frequently, the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card may be an excellent card for your wallet. You can easily change categories once a month to best align with your spending. As long as you spend around the $50,000 amount each year, or less, the card is a great way to earn a little extra on purchases you already make.
For those who spend more, or if business travel often takes you abroad, consider a card such as the Ink Business Preferred® Credit Card, which lets you earn rewards and doesn’t assess foreign transaction fees.
For Capital One products listed on this page, some of the above benefits are provided by third parties such as Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as certain terms, conditions, and exclusions apply.
The information related to the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card, The Business Platinum Card® from American Express, Capital One Spark Classic for Business and The American Express Blue Business Cash™ Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
