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Best Bank of America Business Credit Cards

Best Bank of America Business Credit Cards

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This article was last updated May 29, 2020. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

Bank of America offers a variety of consumer credit card products, including cash back, travel rewards and 0% intro APR cards. The bank also offers several credit cards designed for small business owners that come with a variety of benefits, including cash flow management tools, fraud monitoring and overdraft protection.

When deciding which Bank of America business credit card is the right fit for your company, you should first know how you plan to use the card. For example, if you take frequent business trips, you could select a card that lets you earn rewards to redeem toward future travel. But if you want to finance large purchases at a lower interest rate, the business credit card with the lowest APR would make the most sense.

Based on our research of cards available through CompareCards, as well as the top cards offered by Bank of America, here are our picks for the best Bank of America business cards for the following categories:

Best Bank of America business credit card for cash back: Bank of America® Business Advantage Cash Rewards Mastercard® credit card

If you want to earn cashback rewards in popular business spending categories, such as wireless and computer services, the Bank of America® Business Advantage Cash Rewards Mastercard® credit card could be the best fit. The card offers 3% cash back on your choice of one of the following six categories: gas stations, office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, and 2% cash back on dining (on the first $50,000 each calendar year, then 1%. Earn an unlimited 1% cash back on all other purchases.

Cash back can be redeemed for statement credits, checks or deposits into your Bank of America checking or savings account.

Additional Bank of America® Business Advantage Cash Rewards Mastercard® credit card benefits:

  • $300 statement credit when you make at least $3,000 in net purchases within 60 days of your account opening.
  • $0 annual fee.
  • Intro APR on purchases of 0% for 9 billing cycles, then 12.24% - 22.24% Variable APR.
  • Opportunity to earn 25% to 75% more cash back on every purchase as a Preferred Rewards member.
  • Travel and emergency services, including $100,000 in travel accident insurance and auto rental insurance, emergency ticket replacement, lost luggage assistance and the option to get extended protection.

What to look out for. The Bank of America® Business Advantage Cash Rewards Mastercard® credit card limits the amount of cash back you can earn at the 3% and 2% rates. However, unless you plan to spend more than $50,000 on those spending categories each year, the cashback rate will still be worthwhile, since you can earn $1,500 back on those purchases.

Additionally, if you plan to use your card while traveling outside of the U.S., you will be subject to foreign transaction fees of 3% of the U.S. dollar amount of each transaction.

Read our Bank of America® Business Advantage Cash Rewards Mastercard® credit card review.

Best Bank of America business credit card for travel – Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

If you want to earn rewards to use toward future business travel, the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card may be a better option. The card offers 1.5 rewards points for every $1 on all purchases, 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center.

Cardholders can redeem points for statement credits to pay for eligible travel purchases, new travel reservations, cash back or gift cards. Travel purchases that qualify for statement credits include flights, hotels, vacation packages, cruises, rental cars and baggage fees.

Additional Bank of America® Business Advantage Travel Rewards World Mastercard® credit card benefits:

  • 30,000 bonus points when you spend $3,000 in the first 60 days.
  • $0 annual fee.
  • Intro APR on purchases of 0% for 9 billing cycles, then 13.74% - 23.74% Variable APR on purchases.
  • Ability to earn 25% to 75% more cash back on every purchase as a Preferred Rewards member.
  • Travel and emergency services, including $1 million in travel accident insurance, lost luggage reimbursement, trip cancellation coverage and trip delay reimbursement.
  • Foreign transaction fees: None

What to look out for. While the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card offers a generous amount of rewards on travel purchases, it does not offer an elevated rewards rate in other popular spending categories, such as gas or dining.

Read our Bank of America® Business Advantage Travel Rewards World Mastercard® credit card review.

Best Bank of America business credit card for a lower APR – Bank of America Platinum Plus® Mastercard® Business card

If you plan to carry a balance on your business credit card from month to month or transfer a balance from a different card, you should look at the Bank of America Platinum Plus® Mastercard® Business card, since it offers the lowest ongoing APR on purchases and balance transfers among the cards in this post.

The Bank of America Platinum Plus® Mastercard® Business card offers an intro APR of 0% for 7 billing cycles on purchases. After that, a 10.24% - 21.24% Variable APR will apply. Additionally, the card offers a 10.24% - 21.24% Variable APR on balance transfers; however, there is a balance transfer fee of either $10 or 4% of the amount of each transaction, whichever is greater.

Additional Bank of America Platinum Plus® Mastercard® Business card benefits:

  • $300 statement credit when you make at least $3,000 in net purchases within 60 days of your account opening.
  • $0 annual fee.
  • Travel and emergency services, including $100,000 in travel accident insurance and auto rental insurance, emergency ticket replacement, lost luggage assistance and the option to get extended protection.

What to look out for. Although the Bank of America Platinum Plus® Mastercard® Business card offers a generous sign-up bonus, the card does not offer a rewards program. So if you want to earn rewards on every purchase you make using your business credit card, you may be better off with Bank of America® Business Advantage Cash Rewards Mastercard® credit card or the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card.

The Bank of America Platinum Plus® Mastercard® Business card also charges foreign transaction fees of 3% of the U.S. dollar amount of each transaction.

Read our Bank of America Platinum Plus® Mastercard® Business card review.

Best Bank of America business card for Alaska Airlines: Alaska Airlines Visa® Business credit card

If your business requires you to travel frequently on Alaska Airlines, the Alaska Airlines Visa® Business credit card should be on your radar. The card offers the opportunity to earn a generous amount of miles in a short period of time, which can be used to help offset the cost of future travel:

  • Earn 3 miles for every $1 spent directly on Alaska Airlines purchases, 1 mile for every $1 spent on all other purchases.
  • Get 40,000 bonus miles plus Alaska's Famous Companion Fare from $121 ($99 fare plus taxes and fees from just $22) with this offer. To qualify, make purchases of $2,000 or more within the first 90 days of opening your account.

Cardholders can redeem miles for flights on Alaska Airlines and its global airline partners as well as hotel stays.

Additional Alaska Airlines Visa® Business credit card benefits:

  • Free checked bag for you and up to six guests traveling on the same reservation.
  • Get 50% off day passes at the Alaska Lounge and 20% back on all Alaska Airlines inflight purchases.
  • Receive an annual Alaska’s Famous Companion Fare each year on your account anniversary.

Read: Which Credit Cards Offer an Airline Companion Pass

What to look out for. Unlike the other Bank of America business credit cards, which come with $0 annual fees, the Alaska Airlines Visa® Business credit card charges an annual fee of $50 for the company and $25 per card. That said, the value of the Alaska Airlines companion fare can easily offset that amount each year.

Read our Alaska Airlines Visa® Business credit card review.

Which Bank of America business credit card is best for you?

Bank of America business credit cards offer several of the same benefits, including business management tools and overdraft protection – so choosing the right one for you ultimately comes down to how you plan to use the card.

For example, if you want to earn cash back on everyday purchases, such as gas stations and restaurants, the Bank of America® Business Advantage Cash Rewards Mastercard® credit card may be a good fit. But if you plan to carry a card balance, the Bank of America Platinum Plus® Mastercard® Business card may be a better choice – but only if you qualify for the low end of the ongoing interest rate.

Read: Best Small Business Credit Cards


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