Best Bank of America Business Credit Cards

You need a credit score of at least 750 to get a Bank of America business credit card in most cases. That means applicants generally need excellent credit in order to qualify for a business credit card from Bank of America. That doesn’t guarantee that your application will be approved, but the credit score can serve as a risk indicator to the credit card company, letting it know how likely it is that you’ll repay your debt.

Bank of America will look at the big picture, which includes the number of delinquent accounts in your credit reports, hard inquiries, debt, and income.

It is not very hard to get a Bank of America credit card because Bank of America offers cards for people with bad credit or better. The easiest credit card to get from Bank of America is the Bank of America® Customized Cash Rewards Secured Credit Card, which is available to applicants with bad credit. Depending on your credit score, you may be able to qualify for other Bank of America credit cards, too.

Minimum Credit Score for Notable Bank of America Credit Cards

• Bank of America® Customized Cash Rewards Secured Credit Card: bad credit
• BankAmericard® credit card: excellent credit
• Bank of America® Travel Rewards credit card: excellent credit
• Bank of America® Travel Rewards Credit Card for Students: limited credit

As long as you meet the credit score requirement and a few other requirements, it’s not hard to get a Bank of America credit card. As with all credit cards, you’ll need to have a steady income and be at least 18 years old. You’ll also need to have an SSN or ITIN.

Keep in mind that just because it’s not hard to get some Bank of America credit cards, that doesn’t mean it’s necessarily easy to get all of them. You’re also never guaranteed to be approved, even for the cards with the easiest approval requirements.

Yes, you can apply for some business credit cards with an EIN only, but most credit cards will not allow it. Most business credit cards require a Social Security number or Individual Taxpayer Identification Number in addition to an Employer Identification Number (EIN).

The EIN shows that you’re legitimately a business owner. The SSN, or ITIN, allows the credit card company to review your personal credit history when evaluating your application and hold you personally accountable for paying the bill if you’re approved. Almost all business credit cards require personal liability. But there are a few exceptions.

Business Credit Cards You Can Apply for With an EIN Only

• Office Depot Business Credit Card: You can apply with without an SSN if your company makes over $5 million per year and has been in business for at least three years. Or, if you are a government entity (including schools) or a nonprofit, you can apply without personal liability also. This card only works for OfficeMax and Office Depot purchases. This card requires fair business or personal credit.
• Sam's Club® Business Credit Card: You can apply without an SSN if your company makes $5+ million per year, is more than 2 years old and has more than 10 employees. You can only get this card if you’re a Sam’s Club member, and you need good business or personal credit to be approved. You can use the card anywhere that accepts Mastercard.
• SuperAmerica Fleet Credit Cards: You can apply for these cards without an SSN if you’ve been in business for at least three years. You can use it at all SuperAmerica gas stations and 45,000 partner stations nationwide. Both cards require good business or personal credit.
• Shell Small Business Credit Card: You can get this card without any personal liability if you’re applying on behalf of a government entity or non-profit, or if your business has been open for at least three years and does $1+ million in yearly sales. This card requires fair business or personal credit, and you can use it at any of the 12,000 Shell gas stations nationwide.

If you want to apply for a business card with only an EIN, the choices are slim. But your options become far greater when you consider the full range of cards that require personal liability.

If you’re worried that your personal credit isn’t good enough to qualify for a business credit card, remember that you can apply for a secured business card, or even consider applying for a secured personal card and use it for business expenses. So, consider personal options such as the Discover it® Secured Credit Card as well as the likes of the Wells Fargo Business Secured Credit Card. Both are available to people with bad credit.

The main difference between a corporate credit card and a business credit card is that the company is liable for making payments with a corporate card while the individual user is personally liable with a business card. Corporate cards are also meant for larger companies – those with over $4 million in annual revenue. In addition, there are some other important differences between business and corporate cards in regard to account opening and cost.

Corporate Cards vs. Business Cards

In general, business cards have an easier application process than corporate cards. Business cards also tend to have lower annual fees, and sometimes no fees for adding authorized users. Additionally, business owners can decide whether rewards earned on purchases go to the company, the employees, or themselves.

Corporate cards are quite the opposite, with higher annual and authorized user fees. Rewards earned on corporate cards also help the business directly, since the account is opened under the name of the business rather than any individual.

Ultimately, figuring out which card is right for your business depends mostly on the size and revenue of the business. It’s also very important to consider whether you or the company should be liable for any irresponsible credit card use. Beyond this, compare rewards, fees, and authorized user policies to choose the card that’s right for your business.

No, Bank of America does not offer secured business credit cards, Bank of America business credit cards are all unsecured, which means no deposit is required, and all of the offers available right now require excellent credit for approval.

You have more options if you’re willing to consider general-purpose credit cards and cards from other issuers. For example, you could use the BankAmericard® Secured Credit Card for business expenses.

Another good alternative is the Wells Fargo Business Secured Credit Card, for which you can apply even with bad credit.

There is only one Merrill business card, the Merrill Business Credit Card. This card offers 1 point per $1 spent on all purchases. Points are worth 1.5 cents each. When you’ve earned a minimum of 3,000 points, you’ll be eligible to receive rewards in the form of a check or a direct deposit into an eligible Bank of America or Merrill Edge account. The card’s annual fee is: $0.

The Merrill Business Credit Card stacks up favorably against other BofA business cards in some categories. However, it lags far behind on others. It requires excellent credit in order to be approved, the same as all other Bank of America business credit cards. But there’s no initial bonus or low introductory APR, and it offers far less in rewards.

One good alternative is the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card, which offers 3 points / $1 spent on travel booked through the Bank of America Travel Center and 1.5 points / $1 on all other purchases. There’s also a bonus of 30,000 points when you spend $3,000 in the first 90 days. Similarly, the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card gives 1 - 3% cash back on select purchases and has a $300 bonus for spending $3,000 in the first 90 days.