Last updated on September 11th, 2023
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Business Advantage Unlimited Cash Rewards Credit Card
Business Advantage Unlimited Cash Rewards Credit Card
Business Advantage Unlimited Cash Rewards Credit Card
- 18.49% to 28.49% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 18.49% to 28.49% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 29.49% variable based on the Prime Rate Cash Advance APR
- 0% for the 9 months Intro Purchase APR
At a Glance
The Business Advantage Unlimited Cash Rewards Credit Card provides a base rate of unlimited 1.5% cash back on purchases, with that rate rising to 2.62% for eligible Preferred Rewards for Business account holders. The card also provides a decent selection of introductory bonuses with no annual fee.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- Unlimited 1.5% cash back on every purchase
- Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening
- 0% Intro APR on purchases for 9 billing cycles from account opening
- Intro Purchase APR: 0% for the 9 months
- Regular Purchase APR: 18.49% to 28.49% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR: 18.49% to 28.49% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 4% of the amount of each transaction, whichever is greater
- Cash Advance APR: 29.49% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 4% of the amount of each transaction, whichever is greater
- Foreign Transaction Fee: 3% of the U.S. dollar amount of each transactio
- Late Payment Penalty Fee: Up to $49
- Minimum Deposit Required: N/AP TO $49
- You own a small-to-medium-sized company and want an unlimited cash back card
- You already have a deposit account with Bank of America, including a Preferred Rewards for Business account
- You don’t want to pay an annual fee
Business Advantage Unlimited Cash Rewards Credit Card Review
The Business Advantage Unlimited Cash Rewards Credit Card is a business rewards card that provides unlimited 1.5% cash back on every purchase, every time. The card, from Bank of America, also features a decent introductory APR period on purchases, bonus statement credit offer, and more – for no annual fee.
Earn Unlimited Cash Back on Purchases
The Business Advantage Unlimited Cash Rewards offers just that: unlimited rewards. The card earns an unlimited 1.5% cash back on all purchases, with no caps.
While 1.5% back on purchases isn’t industry-leading, it is a solid number of rewards – with that rate rising even higher with an eligible Bank of America Preferred Rewards for Business account. Eligible Preferred Rewards for Business accounts can earn up to 75% more back on purchases – with the highest tier companies earning up to 2.62% cash back on all purchases.
Even the base level of Bank of America Preferred Rewards for Business offers 25% more rewards, or 1.875% cash back on all purchases. These tiers make the Business Advantage Unlimited Cash Rewards Credit Card ideal for companies with an existing relationship with BOA.
Statement Credit Bonus
The Business Advantage Unlimited Cash Rewards also comes with a decent introductory cash back bonus. New accounts earn $200 as a statement credit after making $3,000 in purchases with the card within the first 90 days of opening an account.
How to Redeem Cash Back
The cash back rewards are straightforward to redeem; Bank of American lets businesses use cash rewards towards statement credits on the card account, as deposits into Bank of America checking or savings accounts. Accountholders can also receive their rewards as a physical check mailed to them.
0% Intro APR on Purchases
The Business Advantage Unlimited Cash Rewards Card also comes with an introductory offer on purchases. New accounts enjoy 0% intro APR on purchases for the first nine billing cycles, with a variable APR after that.
That purchase APR, which varies based on creditworthiness and the Prime Rate, ranges from an exceptional 12% for excellent credit scores to the low 20s for companies (or owners preferring to use their personal credit score) with good credit. Regardless of the APR offered, the rate is extremely competitive with the average APR for a business credit card – currently around 18%.
Business Management Features
Like other Bank of America business credit cards, the Business Advantage Unlimited Cash Rewards Card comes with a comprehensive suite of business account management tools. These tools include cash flow management tools, such as automatic payments and transfers, seamless QuickBooks integration, Balance Connect™ overdraft protection, and more.
Other Card Features
ther notable features with the card include:
- No annual fee
- EMV chip and contactless payment technology
- Zero Fraud Liability
- Up to $100,000 in travel accident insurance
- Emergency travel services, including auto rental insurance, emergency ticket replacement, lost-luggage assistance, and legal and medical referrals
- 3% foreign transaction fee
Should You Apply for the Business Advantage Unlimited Cash Rewards Credit Card from Bank of America?
Overall, the Business Advantage Unlimited Cash Rewards Credit Card is a lucrative cash back card for companies that already have deposit accounts with Bank of America. The card provides the most value for these companies – including up to 2.62% cash back on all purchases. These customers also enjoy the best redemption options, as beyond BOA deposits the redemption process is cumbersome (at best).
