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The 6 Best Bank of America Business Credit Cards for Cash-back & Rewards [2024]

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Stephen Au
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Stephen Au

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Stephen is an established voice in the credit card space, with over 70 to his name. His work has been in publications like The Washington Post, and his Au Points and Awards Consulting Services is used...

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Bank of America is one of the biggest banks in the world. And even though this financial institution has widespread recognition, we don’t hear about Bank of America all that much in the realm of credit cards.

Traditionally, Bank of America has primarily focused on cash-back rewards credit cards.

So while Bank of America doesn’t offer a transferrable rewards currency that can be used to book luxury award travel like Amex, Chase, Capital One, and Citi do, it does still offer some credit cards worth considering.

Not to worry, if you’re a business owner, you can still choose from attractive options through Bank of America.

You’ll have plenty of choices to pick the card that makes the most sense for your situation, so let’s dive right into the best Bank of America business credit cards!

The 6 Best Bank of America Business Credit Cards — Summary

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Card

Welcome Bonus and Annual Fee

Benefits

Bank of America® Business Advantage Travel Rewards Card

  • Earn 30,000 online bonus points after you spend $3,000 in the first 3 months
  • Annual fee of $0
  • 3x points on travel (car, hotel, or airline) booked through the Bank of America Travel Center
  • 1.5x points on other purchases
  • Travel insurance
  • No foreign transaction fees

Alaska Airlines Visa® Business Credit Card

  • Earn 50,000 bonus miles and Alaska’s Famous Companion Fare from $122 ($99 fare plus taxes and fees from $23) after you spend $3,000 in the first 3 months
  • Annual fee of $70 for the company and $25 per card
  • 3x miles on Alaska Airlines purchases
  • 2x miles on eligible gas, EV charging station, shipping, and local transit (including rideshare) purchases
  • 1x miles on other purchases
  • Alaska’s Famous Companion Fare
  • Free checked bag for yourself and up to 6 companions traveling on the same reservation
  • 20% statement credit on Alaska Airlines inflight purchases
  • No foreign transaction fees

Bank of America® Business Advantage Unlimited Cash Rewards

  • Earn $300 statement credit online bonus after you make $3,000 in purchases in the first 90 days
  • Annual fee of $0
  • 1.5% cash-back on all purchases
  • Travel accident insurance
  • Secondary rental car insurance

Bank of America® Business Advantage Customized Cash Rewards Credit Card

  • Earn $300 statement credit after you spend $3,000 in the first 3 months
  • Annual fee of $0
  • 3% cash-back in the category of your choice (gas stations, office supply stores, travel, TV/telecom and wireless, computer services, or business consulting services (terms apply)
  • 2% cash-back on dining (terms apply)
  • 1% cash-back on other purchases
  • Travel accident insurance
  • Secondary rental car insurance

Platinum Plus® Mastercard® Business card

  • Earn $300 statement credit after you spend $3,000 in the first 3 months
  • Annual fee of $0

Bank of America® Business Advantage Unlimited Cash Rewards Secured Credit Card

  • No welcome offer
  • Annual fee of $0
  • 1.5% cash-back on all purchases
  • $1,000 minimum security deposit
  • Travel accident insurance
  • Secondary rental car insurance

Best Bank of America Business Card for Travel

If you’re looking for the best business credit card for overall travel rewards, you’ll want to check out this fantastic credit card option.

Bank of America® Business Advantage Travel Rewards Card

The Bank of America Business Advantage Travel card is the best overall travel rewards credit card Bank of America can offer to business owners.

Currently, this credit card includes a welcome bonus, as well as a 0% introductory APR benefit.

Importantly, you can earn up to 3x points per dollar spent:

  • 3x points on travel (car, hotel, or airline) booked through the Bank of America Travel Center
  • 1.5x points on other purchases

Your rewards can be used to offset travel and dining-related purchases, plus travel booked through the Bank of America Travel Center with no blackout dates, cash-back, or gift cards.

The card is eligible for bonus points through Preferred Rewards for Business, which means you can earn up to 75% more points on all your purchases if you also have an eligible business checking account with Bank of America that qualifies for the highest Preferred Rewards for Business tier.

The maximum rewards you can earn, therefore, are:

  • 5.25 points on travel booked through the Bank of America Travel Center
  • 2.625 points on other purchases

Considering the fact that each of these points is worth around 1 cent per point when used towards travel, you can get a return on spending of up to 5.25% on this card.

This credit card comes with zero liability protection for unauthorized transactions, overdraft protection, travel accident insurance, lost luggage reimbursement, trip cancellation coverage, trip delay reimbursement, and no foreign transaction fees.

Plus, there are no additional annual fees for employee cards.

Best Bank of America Airline Business Credit Card

If you’re a frequent traveler and can navigate through the complexities of airline miles and rewards, you could stand to gain some fantastic outsized value.

Obviously, the trade-off is the need to spend more time understanding how frequent flyer programs work, airline alliances, and so on, but using airline miles can result in outsized value beyond a fixed number.

Alaska Airlines Visa® Business Credit Card

The Alaska Airlines Business card is one of the best credit cards Bank of America has to offer. This card is known for its fantastic welcome bonus, which also includes Alaska’s Famous Companion Fare.

Alaska’s Famous Companion Fare allows you to book a companion flight from $122 ($99 fare plus taxes and fees starting at $23) on all Alaska Airlines flights booked on alaskaair.com. This perk is also renewed after every credit card anniversary year.

Also, earn valuable Alaska Airlines miles according to this structure:

  • 3x miles on eligible Alaska Airlines purchases
  • 2x miles on eligible gas, EV charging station, shipping, and local transit (including rideshare) purchases
  • 1x miles on other purchases

Additionally, you’ll get a free checked bag for yourself and up to 6 companions traveling on the same Alaska Airlines reservation.

You’ll even get a 20% statement credit on Alaska Airlines inflight purchases when you pay with your card!

This credit card includes car rental insurance, travel accident insurance, travel and emergency assistance services, zero liability protection, overdraft protection, contactless payments, and no foreign transaction fees.

Best Bank of America Business Credit Cards for Cash-back

Cash-back credit cards are where Bank of America really shines. And this principle carries over to business credit cards, too.

Let’s take a look at the 2 best Bank of America business credit cards for cash-back.

Bank of America® Business Advantage Unlimited Cash Rewards

Bank of America® Business Advantage Unlimited Cash Rewards
U.P. Rating 
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Bank of America Business Advantage Unlimited Cash card earns 1.5% cash-back on all purchases and has no annual fee.

The Bank of America Business Advantage Unlimited Cash card earns 1.5% cash-back on all purchases and has no annual fee.
Get a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening.
$300
$0
0% intro APR for the first 9 billing cycles; after that, variable rate of 18.49% to 28.49% will apply.

The Bank of America® Business Advantage Unlimited Cash Rewards credit card is a top-notch option for business owners who are looking for a simple cash-back rewards card with no annual fee. Moreover, those who hold status in the Bank of America Preferred Rewards for Business program can supercharge their cash-back rewards up to 2.625% on all purchases!

Pros
  • 1.5% cash-back on all purchases
  • No annual fee
  • Introductory APR offer
Cons
    • Doesn’t offer bonus categories
  • Get a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening.
  • Earn unlimited 1.5% cash-back on all purchases everywhere, every time.
  • No annual cap and cash rewards don’t expire.
  • No annual fee.
  • You can earn up to 75% more cash-back on every purchase if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to an unlimited 2.62% cash-back on all purchases.
  • Choose how to redeem your cash rewards — as a deposit into your Bank of America checking or savings account, as a card statement credit, or as a check mailed to you.
  • 0% Introductory APR on purchases for the first 9 billing cycles. After the intro APR offer ends, a Variable APR that’s currently 18.49% to 28.49% will apply.
  • Contactless Cards — the security of a chip card, with the convenience of a tap.
  • This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Financial Snapshot
  • APR: 0% intro APR for the first 9 billing cycles; after that, variable rate of 18.49% to 28.49% will apply.
  • Foreign Transaction Fees: 3% of the U.S. dollar amount of each transaction.

The Bank of America Business Advantage Unlimited Cash card is our top-winning business credit card for cash-back issued by Bank of America.

Right now, there’s a welcome bonus available for new cardholders. Another component of the welcome bonus is the 0% introductory APR benefit. This perk can help you defer accruing interest for the first set of billing cycles.

The biggest selling point is the ability to earn unlimited cash-back with no bonus categories to worry about.

You’ll earn 1.5% cash-back on all purchases with no caps or expiration dates.

This credit card also participates in Preferred Rewards for Business, which means you can earn up to 75% more cash-back with an eligible business checking account enrolled in Preferred Rewards for Business. That’s an unlimited 2.625% cash-back on all purchases!

Enjoy rental car insurance, $100,000 in travel accident insurance, emergency travel and medical assistance services, zero liability protection, overdraft protection, and contactless payments.

Lastly, there is no annual fee for this card, as well as no additional annual fees for employee cards.

Bank of America® Business Advantage Customized Cash Rewards Credit Card

The other business credit card we’d really recommend for cash-back from Bank of America is the Bank of America Business Advantage Customized Cash card.

This card is similar to the Bank of America Business Advantage Unlimited Cash card, except with bonus categories to potentially get more rewards from your spending.

You’ll still get a welcome bonus plus a 0% introductory APR promotion, but you’ll earn up to 3% cash-back instead of 1.5% cash-back on purchases:

  • 3% cash-back in the category of your choice (gas stations, office supply stores, travel, TV/telecom and wireless, computer services, or business consulting services
  • 2% cash-back on dining
  • 1% cash-back on other purchases

There’s a combined cap of $50,000 in purchases every calendar year that can qualify for 3% and 2% cash-back — and you can change your 3% category once every calendar month.

The Bank of America Business Advantage Customized Cash card participates in Preferred Rewards for Business, which can elevate your rewards up to:

  • 5.25% cash-back in the category of your choice (from the list above)
  • 3.5% cash-back on dining
  • 1.75% cash-back on other purchases

You can redeem your cash-back as Bank of America checking or savings account deposits, card statement credits, or checks mailed to you. Your rewards won’t expire.

This particular credit card comes with secondary rental car insurance, travel accident insurance, emergency travel and medical assistance, zero liability protection, overdraft protection, contactless chip technology, and no additional fee for employee cards, as well as no annual fee.

Best Bank of America 0% Introductory APR Business Credit Cards

If you’re looking for a business credit card that won’t be as difficult to get approved for and focuses on offering competitive APR rates, you’ll want to pay close attention to this section.

Platinum Plus® Mastercard® Business card

The Platinum Plus Business card generally appeals most to those with lower credit scores who might not qualify for the top rewards credit cards from Bank of America.

Currently, this card offers a statement credit welcome bonus, as well as a 0% introductory APR on purchases for the first 7 billing cycles.

Beyond that, you can access QuickBooks integrations, travel accident insurance, secondary rental car coverage, travel and emergency services, zero liability protection, overdraft protection, fraud monitoring, and no additional fee for employee cards.

There’s no annual fee for the Platinum Plus Business card, and this card is generally easier to get approved for than Bank of America’s other business credit cards.

Best Bank of America Business Credit Card for Building Credit

Now, let’s say you want a business credit card from Bank of America but don’t have an established credit score. Or perhaps you’ve had some negative credit score factors in the past.

Check out which credit card Bank of America recommends for you!

Bank of America® Business Advantage Unlimited Cash Rewards Secured Credit Card

The Bank of America Business Advantage Unlimited Cash Secured card allows you to open a business credit card without having a good credit history.

With a $1,000 minimum security deposit, you can start establishing and building your business credit.

The credit limit you’re approved for will be equal to the security deposit you put down.

If your credit history improves, Bank of America can transition you to an unsecured card, which would be the Bank of America Business Advantage Unlimited Cash card.

This credit card earns 1.5% cash-back on all purchases with no caps or expiration dates.

Standard perks apply, including travel accident insurance, rental car coverage, travel and emergency assistance, fraud alerts, zero liability protection, and overdraft protection.

There are no additional annual fees for employee cards. Lastly, this card has no annual fee.

Everything Else You Need To Know

Redeeming Rewards

Although Bank of America has a variety of different rewards credit cards, ranging from travel rewards to airline miles and, of course, cash-back, these are almost always super easy to redeem.

In fact, travel rewards and cash-back rewards can be used incredibly flexibly; some redemption options include statement credits, travel bookings through the Bank of America Travel Center, and deposits into your Bank of America checking or savings accounts.

In general, points earned from travel rewards credit cards will be worth 1 cent per point on travel, whether booked through the Bank of America Travel Center or redeemed as statement credits against eligible travel purchases.

On the other hand, cash-back rewards earned from cash-back can be redeemed for Bank of America deposits, statement credits, or checks.

Lastly, Alaska Airlines miles are best redeemed for luxury award travel, especially if you’re looking to get the best value for your points. Doing so can net you a redemption value of up to 10 cents per mile!

Preferred Rewards for Business

Preferred Rewards for Business is Bank of America’s proprietary rewards program that encourages you to use Bank of America as a one-stop shop, both for credit card accounts and business banking.

If you have an eligible Bank of America business or personal deposit account, as well as a 3-month average combined balance of at least $20,000 in qualifying Bank of America, Merrill Edge, or Merrill Lynch accounts, you can participate in Preferred Rewards for Business.

Depending on what your average combined balances are, you can get a rewards bonus of 25% to 75%:

  • Gold (25% rewards bonus), balance of $20,000 to $49,999
  • Platinum (50% rewards bonus), balance of $50,000 to $99,999
  • Platinum Honors (75% rewards bonus), balance of $100,000 or more

There are other benefits included, including interest rate discounts on specific loans, no-fee ATM transactions, and interest rate boosters.

Bank of America Shopping Benefits and Protections

All of the Bank of America credit cards in this guide include:

  • Zero liability against unauthorized transactions
  • Contactless payments
  • Overdraft protection (optional)
  • Fraud monitoring
  • Integrations with QuickBooks

Bank of America Travel Benefits and Protections

Also, all of the credit cards listed in this guide offer the following travel perks:

  • Travel accident insurance
  • Secondary rental car insurance
  • Emergency and travel assistance

The Bank of America Business Advantage Travel card and Alaska Airlines Business card both have no foreign transaction fees.

The Bank of America Business Advantage Travel card also includes these travel benefits:

  • Lost luggage reimbursement
  • Trip cancellation insurance
  • Trip delay coverage

Depending on how much you value this ancillary travel coverage, it might make more sense to open the Bank of America Business Advantage Travel card.

Final Thoughts

Bank of America offers a healthy handful of business credit cards. Each of these credit cards performs well in its own niche.

For example, if you spend a lot of money on travel and value travel insurance heavily, you might want to get the Bank of America Business Advantage Travel card.

Love airline miles? You’ll want to go for the Alaska Airlines Business card.

And if you’re looking for cash-back, both the Bank of America Business Advantage Unlimited Cash card and Bank of America Business Advantage Customized Cash card work fantastically well, especially if you also participate in Preferred Rewards for Business.

If you’re looking for a 0% introductory APR card but don’t have excellent credit, you might consider the Platinum Plus Business card.

Lastly, if you want to build your credit and can’t qualify for an unsecured card, the Business Advantage Unlimited Cash secured card is a great fit for you.

The information regarding the Bank of America® Business Advantage Travel Rewards Card, Bank of America® Business Advantage Customized Cash Rewards Credit Card and Platinum Plus® Mastercard® Business card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

The information regarding Alaska Airlines Visa® Business Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Bank of America® Business Advantage Unlimited Cash Rewards was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

Frequently Asked Questions

Which Bank of America business credit card is best?

Our favorite Bank of America business credit card overall is the Alaska Airlines Business card because it earns miles that can be used to book luxury travel for outsized value. However, the best card for your situation will depend on whether you’re looking for cash-back, travel, or airline rewards or if you’re just looking to build credit.

Is it hard to get a Bank of America business credit card?

In general, if you have good credit, you’re in good shape. An existing Bank of America relationship helps a lot, though.

What are the Bank of America business credit card approval odds?

It totally depends on your credit report and the card you’re applying for. If you’re applying for a secured credit card, it’s significantly easier to get approved than for an unsecured credit card.

Similarly, if you have excellent credit, it’s going to be much easier to get approved than if you have a credit score of less than 600.

What credit score do I need for a Bank of America business credit card?

In general, we recommend having a good to excellent credit score before applying — usually a minimum FICO score of 670. However, if you have an existing business banking relationship with Bank of America, it might be easier to get a business credit card.

Does Bank of America do a hard pull for a business credit card?

Yes, you’ll almost always get a hard pull when you apply for a Bank of America business credit card.

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About Stephen Au

Stephen is an established voice in the credit card space, with over 70 to his name. His work has been in publications like The Washington Post, and his Au Points and Awards Consulting Services is used by hundreds of clients.

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