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Bank of America Business Advantage Cash Rewards Mastercard Review

Bank of America Business Advantage Cash Rewards Mastercard Review

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This article was last updated May 23, 2018, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.

If you’re looking for a business credit card that allows you to earn cash back for your company without a lot of bells and whistles, then take a look at the Bank of America® Business Advantage Cash Rewards Mastercard® credit card.

It starts with a $200 statement credit when you make at least $500 in net purchases within 60 days of your account opening. It isn’t the biggest bonus in the business category, but it’s better than nothing. You can boost your cashback rewards if you enroll in Bank of America’s Business Advantage Relationship Rewards program. Under that program, you can earn an additional 25% to 75% reward bonus points on all purchases. That means you can earn up to 3.75% at gas stations and office supply stores (up to $250,000 each calendar year), 2.75% at restaurants and unlimited 1.75% cash back on all other purchases.

If you’re not in the Business Advantage Relationship Rewards program, there are other business cards that offer higher points in the travel and dining categories. So you may want to do your homework and research other cards with more robust points and benefits before committing to this card.

Where the Bank of America® Business Advantage Cash Rewards Mastercard® credit card stands out in its category

The card offers the most cash back in the office supply and gas station categories, where businesses tend to spend a lot of money. And its $0 annual fee is attractive because in business, every penny counts.

You can add cardholders to your account and earn cash back based on their purchases. There’s no annual cap on rewards redemption and as long as your account remains in good standing, your cash rewards don’t expire.

Where the Bank of America® Business Advantage Cash Rewards Mastercard® credit card falls short in its category

Other business credit cards offer a more generous sign-up bonus. There’s a calendar year cap of $250,000 on rewards earned at the cash back rate of 3% for gas stations and office supply stores. Once you spend over $250,000 in those categories combined, the rate falls to 1% cash back.

Read the fine print on the rewards categories, which are limited.

You can’t earn the 2% cash back when spending at bakeries, coffee shops, grocery stores and other miscellaneous food stores that operate a restaurant inside their premises.

You also can’t earn the 3% cash back on gas purchased at boat marinas or fuel dealers whose primary line of business is selling heating oil, propane and kerosene.

Office supply stores don’t include the following: variety stores like Dollar Tree; department stores like Macy’s; discount warehouse stores like Costco; drug stores like Walgreens that may sell office supplies; and stores that sell large or high-priced office equipment.

And be warned — you may want to leave the Bank of America® Business Advantage Cash Rewards Mastercard® credit card at home if you’re traveling out of the country, since it comes with a 3% foreign transaction fee.

Additional card benefits

  • $100,000 in travel accident insurance
  • Auto rental insurance
  • Emergency ticket replacement
  • Lost–luggage assistance.

Compare it with the Ink Business Cash℠ Credit Card

The Ink Business Cash℠ Credit Card stands out because you 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. This is better than what’s offered by the Bank of America® Business Advantage Cash Rewards Mastercard® credit card.

Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening. This is a bit more money than the Bank of America® Business Advantage Cash Rewards Mastercard® credit card, but you also have to spend much more on that card to get it.

The cashback rewards on the Ink Business Cash℠ Credit Card are better than the Bank of America® Business Advantage Cash Rewards Mastercard® credit card when you use the card at office supply stores or on internet, cable and phone services — categories that are important to businesses.

It’s disappointing that the travel category on both cards only offer 1% in cashback rewards, especially since many businesses are on the road. Like the Bank of America® Business Advantage Cash Rewards Mastercard® credit card, you can give employees their own Ink Business Cash℠ Credit Card cards and accumulate cashback rewards on all of them.

You have more ways to redeem cash back with the Ink Business Cash℠ Credit Card. Once you’ve accumulated cash back, it’s redeemable in the Chase Ultimate Rewards® portal for things like cash, gift cards, travel, Amazon.com and products or services.

Once you hit the $25,000 account anniversary spending limit in the 5% and 2% cashback categories, you’ll only earn 1% cash back on all purchases, but it is unlimited. And if you use the card outside the country, you’ll pay a 3% of each transaction in U.S. dollars foreign transaction fee.

Bank of America® Business Advantage Cash Rewards Mastercard® credit card Ink Business Cash℠ Credit Card
Annual Fee $0 $0
Purchase Intro Rate 0% for 9 billing cycles 0% for 12 Months
Balance Transfer Intro Rate N/A 0% for 12 Months
Balance Transfer Fee Either $10 or 4%, whichever is greater Either $5 or 5% of the amount of each transfer, whichever is greater.
Regular Purchase APR 12.99% - 22.99% Variable APR 14.99% - 20.99% Variable
Rewards 3% cash back on purchases at gas stations and office supply stores (up to $250,000 each calendar year, 1% after that), 2% cash back on purchases at restaurants, 1% cash back on all other purchases. 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.
Sign-Up Bonus $200 statement credit when you make at least $500 in net purchases within 60 days of your account opening. Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening.
Foreign Transaction Fee 3% 3% of each transaction in U.S. dollars

After looking at both cards, we’re giving the advantage to Bank of America® Business Advantage Cash Rewards Mastercard® credit card. It has a sign-up bonus that you get without a lot of spending, plus there’s a $0 annual fee. You have the chance to earn between 25% and 75% bonus cash back if you enroll in the Business Advantage Relationship Rewards program. You’ve got to give a high-five to a card that makes it really easy to redeem cash back.


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