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If you’re a small business owner starting out on your search for the perfect business credit card, you know at least one thing: There are a lot of business credit cards on the market.
So many, in fact, that you’ll need to sit down and process all the best business credit cards step by step. You might first look for issuers to work with, and then look for certain business credit card categories. Even after choosing a specific issuer, you’ll find that within this financial institutions, there are still multiple card options for you to choose from.
Today, we’ll take a deep dive into the best Bank of America business credit cards on the market. Does this business credit card issuer have the right card for your business?
Use this guide to find out.
When you’re sifting through each Bank of America business credit card, you’ll quickly notice that there are a fair amount of them—7 Bank of America business credit cards, in fact.
Each Bank of America business credit card has something different to offer small business owners. From cash back, to low travel rewards, to simply low APR’s, Bank of America has a lot of different features that come with their business credit cards.
Let’s walk through the different card categories Bank of America offers to highlight what we think is the best Bank of America business credit card on the market.
If you want to bring in valuable cash savings for your business every time you swipe your business credit card, then cash back business credit cards should be your go-to choice.
And when it comes to cash back, there are a couple Bank of America business credit cards for you to consider.
The Bank of America business credit card that we think is the best for cash back, though, is the Business Advantage Cash Rewards for Business MasterCard.
Here’s what you can earn on this Bank of America business credit card:
On top of that pretty substantial cash back rewards rate, you’ll also get the following welcome bonus: Earn a $200 statement credit offer once you’ve spent at least $500 in purchases in the first 60 days of your account opening.
This cash back Bank of America business credit card stands out with a solid savings rate and welcome offer. If you spend a lot at gas stations and office supply stores, you’ll really benefit from maximizing your earnings on the 3x cash back category.
Plus, this business credit card comes with a pretty great sign up bonus. The extra $200 might not seem like a huge deal for your business, but when you consider how little you have to spend to earn it—$500 in 60 days—the value of the sign up bonus really comes through. Most welcome bonuses come attached with a large spending requirement that, in some cases, just aren’t worth it. With the Cash Rewards for Business MasterCard, that’s not the case.
Finally, this cash back Bank of America business credit card is a great deal for small business owners who want sizable cash savings but don’t want to pay an annual fee. This business credit card comes with no annual fee and has a 0% introductory APR for 9 months.
One thing to look out for, however, is the steep interest rates that come with this business credit card after the introductory APR period. While interest rates can be on the low end at only 11.49%, your APR could spike as high as 21.49%. If you’re planning on carrying a balance from month-to-month on this card—and happen to have a high APR—you’ll be paying a lot in interest each month.
The second category we’ll consider for the Bank of America business credit cards is travel. What are the best Bank of America cards for business owners who are always on the go?
Well, Bank of America has a few business credit cards geared toward frequent fliers and fliers of specific airlines—like Alaska Airlines, Asiana Airlines, and Spirit Airlines.
But as an all encompassing travel rewards card, we think the Travel Rewards World MasterCard for Business is the best travel card Bank of America has to offer.
If you’re a cardmember, here’s what to expect:
Plus, as a welcome bonus, you’ll get 25,000 bonus points when you spend $1,000 in purchases in the first 60 days of being a cardmember. If you choose, this sign up bonus can be redeemed as a $250 statement credit towards travel purchases.
With a few different travel rewards card on their lineup, why is this Bank of America business credit card the best choice for frequent travelers?
Well, if you don’t fly a specific airline—but are always flying for your business—then you’ll have the most options for the most value with the Travel Rewards World MasterCard for Business.
Plus, you’ll have no annual fee and no foreign transaction fee to worry about. For business owners who often travel abroad for work, the lack of foreign transaction fee is a big deal.
Also, you can get the most value out of this card if you redeem your bonus points to pay for flights, hotels, vacations packages, cruises, rental cars, or baggage fees. If you choose to redeem your points on anything else besides travel, though, you won’t get as much value out of this business credit card.
And finally, if you’re looking for travel perks from your business credit card membership, like luxury lounge access, airline incidental credits, and so on, you might want to look for a different travel rewards card. If you’re looking for the ultimate travel rewards card, our suggestion is to check out the Business Platinum Card from American Express—it’s hard to find a better travel business credit card on the market.
If you’re not interested in rewards and prefer low interest over perks, then there are a few Bank of America business credit cards for you to consider.
Lucky for you, you’ll have a choice between two almost identically attractive business credit card offerings from Bank of America – the Platinum Visa Business Credit Card and the Platinum Plus for Business Mastercard. As a cardmember for one of these Platinum cards, you’ll have access to:
In addition to these rates, you’ll be able to access a $200 statement credit bonus when you spend at least $500 on your new card within 60 days of getting it.
These two cards couldn’t beat each other out because they’re nearly identical – the only difference is that one is a Visa and one is a Mastercard. If you’re searching for low interest rates above all else, you’ll get to choose which Platinum business credit card you prefer without sacrificing the benefits.
With both cards, you’ll get access to unlimited free employee cards, as well. On top of all of this, you won’t have to pay an annual fee.
These straightforward business credit cards condense all of your benefits into low APR’s instead of shelling out cash rewards or travel miles. If you’re looking to carry a month-to-month balance, these low APR Bank of America business credit cards are probably for you.
There you have it—out of the long lineup of Bank of America business credit cards, those are our top picks that any small business owner should check out.
But as always, the best Bank of America business credit card for you is the one that fits the exact needs and structure of your business. So before you sign the dotted line on any of these cards, think closely about whether the card will really meet your business’s needs.
If one of these business credit cards is exactly what you’ve been looking for, then what are you waiting for?