The
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card is a good card for business owners with
excellent credit who want to earn cash back rewards at a competitive rate without a lot of hassle. It gives you
1.5% cash back, or even more if you bank with Bank of America, plus an initial bonus of
$300 online statement credit after spending $3,000 within 90 days.
This Bank of America business credit card is easily worthwhile thanks to those rewards and its
$0 annual fee. You can also avoid interest on purchases for the first
9 billing cycles. Below, you can find more details that should help you decide whether or not to apply for the
Bank of America Unlimited Cash Rewards Business Card.
What I Like About the Bank of America Unlimited Cash Rewards Business Card
$300 initial bonus
The
Bank of America Unlimited Cash Rewards Business Card’s
$300 initial bonus is available to online applicants who charge at least
$3,000 to the card in the first
90 days after opening an account. Being able to save
$300 just by making purchases you’d probably have to make anyway obviously is a good deal. It’s also about 28% more than you’d get from the average initial bonus offer available right now, according to
our research.
1.5% cash back on purchases
You will earn
1.5% cash back on every purchase that you make with the
Bank of America Unlimited Cash Rewards Business Card. That is a well-above-average rewards rate tailor-made for people who value simplicity. There are no bonus categories to keep track of or anything like that.
Up to 75% more rewards for banking customers
Cardholders who also have a business checking account from Bank of America with a qualifying balance can get 25% to 75% more rewards on every
Bank of America Unlimited Cash Rewards Business Card purchase, depending on your Preferred Rewards for Business tier. In other words, you could earn up to 2.62% back on purchases, which would make this card elite.
0% introductory APR
This promotional financing offer could save you a lot of money on interest if you have any big-ticket business expenses coming up. As long as you make the minimum monthly payments on time, you’ll enjoy
0% interest for the first
9 billing cycles the account is open.
That’s not the longest interest-free intro period available right now, even among business credit cards in particular, and it’s unlikely to be the main reason you apply for this card. But this feature can still be helpful, nevertheless.
$0 annual fee
Most Bank of America business credit cards have
$0 fees, and the
Bank of America Unlimited Cash Rewards Business Card is no different. Not having to pay an annual fee saves you about
$26.75 per year compared to the average credit card offer.
What I Don’t Like About the Bank of America Unlimited Cash Rewards Business Card
16.99% - 26.99% Variable regular APR
If you’re approved for the
Bank of America Unlimited Cash Rewards Business Card, the interest rate you’re assigned could be anywhere from
16.99% to 26.99% Variable depending on your overall creditworthiness. No matter what, the rate will be too high for carrying a balance from month to month to be wise. So, aim to take advantage of the card’s promotional introductory APR and then pay your balance in full every month when the regular rate takes effect.
For comparison, the average interest rate among business credit card offers right now is
21.47%.
Requires excellent credit
The fact that you need
excellent credit to be eligible for the
Bank of America Unlimited Cash Rewards Business Card means you’ll want to have a credit score of
750+ before pulling the trigger. Your odds of getting approved won’t be as good with a lower score, which is bad news for most business owners.
You can
check your credit score for free here on WalletHub.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
