Bank of America Launches Business Advantage Unlimited Cash Rewards Card

Businessman using credit card in car

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The Bank of America® Business Advantage Unlimited Cash Rewards credit card has just been launched, adding another solid cash-back credit card option for small business owners. Here are all of the details of the new card, along with how you can supercharge your earnings through the Bank of America Preferred Rewards for Business program.

Bank of America Business Advantage Unlimited Cash Card Details

BoaBusinessUnlimitedCashRewards
Image Credit: Bank of America

For starters, the card comes with a $300 statement credit when you make at least $3,000 in purchases within 90 days of your account opening. New cardholders also receive a 0% introductory APR on purchases for 9 billing cycles from account opening. Regular APR of 12.24% to 22.24% variable applies after the introductory period.

You’ll also earn an unlimited 1.5% cash-back on all purchases made with the card, with no annual fee. With the card, your cash-back rewards will never expire and can be redeemed as a deposit into your Bank of America checking or savings account, as a card statement credit, or as a check mailed to you.

The Bank of America Business Advantage Unlimited Cash card includes perks like travel accident insurance, rental car insurance, and lost luggage insurance.

Earn More Cash-Back With Bank of America Preferred Rewards for Business

Bank of America Preferred Rewards for Business
Image Credit: Bank of America

If your small business banks with Bank of America, becoming a Bank of America Preferred Rewards for Business member is the perfect way to boost your cash-back rewards even further!

Bank of America offers 3 tiers in the Preferred Rewards for Business program — Gold, Platinum, and Platinum Honors. You can qualify for each tier based on the 3-month combined average daily balance of qualifying Bank of America business deposit accounts and/or Merrill business investment accounts, with Gold requiring $20,000, Platinum requiring $50,000, and Platinum Honors requiring $100,000.

At each loyalty level you’ll receive the following credit card rewards boost:

  • Gold: 25% bonus — 1.875% back on all purchases
  • Platinum: 50% bonus — 2.25% back on all purchases
  • Platinum Honors: 75% bonus — 2.625% back on all purchases

Your business will also need to have an active, eligible Bank of America business checking account to enroll in the Bank of America Preferred Rewards for Business program.

While there are cards on the market that offer 2% cash-back on all purchases, the ability for Platinum and Platinum Honors members to earn 2.25% to 2.625% cash-back on all purchases, with no annual fee, is about as good as it gets when it comes to non-bonused cash-back credit cards.

Hot Tip: Not familiar with the Bank of America Preferred Rewards for Business program? Our dedicated guide will teach you everything you need to know about the personal and business programs!

Final Thoughts

Though on the face of it, it might seem hard for the Bank of America Business Advantage Cash Rewards card to stand out among the sea of other small business cash-back cards, its competitive advantage lies with those who are also Preferred Rewards for Business members, allowing them to earn anywhere from 1.875% to 2.625% cash-back on all purchases with no annual fee.


The information regarding the Bank of America® Business Advantage Unlimited Cash Rewards credit card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.


Jarrod West

About Jarrod West

Jarrod first became fascinated with the world of points and miles as the perfect way to visit dream destinations without breaking the bank. On his first major award trip, he spent 3 months traveling through Europe, financed nearly entirely with points; while flying in premium cabins and staying in 5-star hotels along the way. Now, he is on a mission to help others realize their travel goals and upgrade their travel experiences. Jarrod has been writing about credit cards and travel loyalty programs for 4 years, and his work has been featured by Travel and Leisure, Matador Network, Yahoo Finance, and U.S. News.

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