Business Advantage Cash Rewards Business Credit Card Review

There are so many credit cards on the market, choosing the right card for your business can be overwhelming. In this series of reviews we’ll do the searching for you and help you make an informed choice.

Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

Summary

Bank of America’s Business Advantage Cash Rewards credit card has some great perks. With up to 3.75% cash back on some purchases, this card can be very useful for some businesses. The Business Advantage Cash Rewards credit card also has some other nice perks like a 0% APR introductory period, a high rewards limit, and no annual fee.

The rewards are tailored for a slim crowd, with the highest cash back percentages given for gas and office supply purchases, followed by restaurant purchases. These rewards will not be useful to everyone. The APR rate can also be high for those with bad credit, and there is a foreign transactions fee. If you’re looking for a card that will be good for overseas transactions and a broad range of purchases, this may not be the one.

Who is the Business Advantage Cash Rewards Credit Card right for?

If your business regularly spends a lot of money on gas, office supplies, or eating out, then this card may be useful for you. Business Advantage Relationship Rewards members may find the special added benefits of this card especially good for their business.

Visit Bank of America's website.

Bank of America

Pricing

With its high rewards limit, business owners who spend a lot on gas, office supplies, and eating out will find this credit card useful, especially those who are Business Advantage Relationship Rewards program members.

Base Features

The Bank of America Business Advantage Cash Rewards credit card features:

• Unlimited 1% cash back on all purchases
• 2% cash back on purchases at restaurants
• 3% cash back on purchases at gas stations and for office supplies, up to $250,000 combined spending annually
• 1% cash back after that
• No annual fee
• 0% Introductory period
• 12.99%-22.99% standard variable APR
• 25.99% variable cash advance APR
• Travel and Emergency Services
• $100,000 travel accident insurance and car rental insurance
• Emergency ticket replacement
• Lost luggage assistance
• Online and mobile banking
• Fraud protection
• Full protection for unauthorized transactions
• Overdraft protection when linked to you Bank of America Business Checking account
• Ability to download credit card history into Quickbooks

Fees:

• Balance Transfer
• $10 or 4% of the transaction amount, whichever one is greater
• Cash Advance
• $10 or 4% of the transaction amount, whichever one is greater
• Overdraft Protection (if enrolled)
• $10 or 3% of the transaction amount, whichever one is greater
• International Transactions
• 3% of the American dollar amount of each transaction
• Late Payment
• $19-$49 depending on payment amount

Business Advantage Relationship Rewards members also get:

• 1.75% unlimited cash back on all purchases
• 2.75% cash back on purchases at restaurants
• Up to 3.75% cash back on purchases at gas stations and for office supplies, up to $250,000 combined spending annually

Ratings

Value - 3/5

The Bank of America Business Advantage Cash Rewards credit card is only useful for a slim audience. If your business uses a lot of gas, purchases a lot of office supplies goes to restaurants a lot or is a Business Advantage Rewards member then this card can be of great use to you. Otherwise, the benefits are limited. On the upside, with no annual fee, a 0% introductory APR, and a high rewards limit, this can be a great card for those who can use it.

Customer Service - 4/5

Bank of America has good customer service and is accessible through phone and in person at any local branch. From our experience, their waiting times are not bad and their staff is knowledgeable and helpful. Of course, for such a large company 100% customer satisfaction isn't possible, so everyone's experience may not be the same. They do not offer online chat on their website.

Ease of Use - 4/5

The Bank of America website is one of the better banking sites available but is still not as great as Chase’s simplistic and organized approach. Their mobile app is also one of the best, with its simple user interface and user-friendly menus. However, Capital One and Chase do a better job of organizing their user experience so everything you need is right at your fingertips.

Included Features - 3/5

Some of the features like the high cashback rewards, 0% introductory period, and no annual fee make this a nice credit card for those who may find the rewards useful. The added features like travel and emergency services, fraud protection, overdraft protection, and introductory bonus are also great perks. The big drawbacks are that the rewards are only useful for a slim audience, the APR rate is high, and there is a foreign transaction fee, so those who travel or make transactions overseas will see some hefty fees.

Conclusion

The Bank of America Business Advantage Cash Rewards credit card might be a good option for businesses who spend a lot on gas, office supplies, and host business meals often. It may also be a good option for Business Advantage Relationship Rewards members who will find some great benefits with those big rewards rates. The added benefits of the 0% APR introductory period and no annual fee are also great, but the card has a foreign transaction fee, a high APR rate for some businesses, and is generally beneficial to only a small audience.

Who is the Business Advantage Cash Rewards Credit Card right for?

If your business regularly spends a lot of money on gas, office supplies, or eating out, then this card may be useful for you. Business Advantage Relationship Rewards members may find the special added benefits of this card especially good for their business.

Visit Bank of America's website
No annual fee; 0% APR on purchases for the first 9 billing cycles