The Bank of America® Business Advantage Cash Rewards Mastercard®Review for 2021

The Business Advantage Cash Rewards Mastercard® is Bank of America®’s cash back rewards business credit card. As a cardholder, you’ll access  3%, 2%, or 1% cash back and a $300 cash back welcome offer.

Beyond saving on avoided interest with your Bank of America® Business Advantage Cash Rewards Mastercard® credit card, you’ll also be able to earn easily with this card’s welcome bonus.

In fact, this Bank of America business credit cards comes with a welcome bonus that’s one of the most accessible of the entire market. All you’ll have to do is spend $3,000 during your first 90 days with the card, and you’ll earn a $300 statement credit.

On the other hand, many of this card’s competitors will require that you spend thousands of dollars during your first months as a cardholder in order to access a welcome bonus.

Basically, if you’re looking to access a welcome bonus that won’t cause you to worry about reaching a lofty spending threshold, then the Bank of America® Business Advantage Cash Rewards Mastercard® credit card is the way to go.

But the cash back rewards certainly don’t stop there with the Bank of America® Business Advantage Cash Rewards Mastercard®.

Even after your first months as a cardholder, you’ll continue to earn high-value returns for your business spending.

As you invest in your business using the Bank of America® Business Advantage Cash Rewards Mastercard®, you’ll earn cash back at the following rates:

• 3% cash back on one of the following categories: gas stations, office supply stores, travel, TV/telecom & wireless, computer services or business consulting services.
• 2% cash back at restaurants for the first $50,000 in combined choice category/dining purchases each calendar year).
• 1% cash back on everything else.

If you’re spending large amounts at gas stations and office supply stores, then this card could help you earn a huge amount of cash back.

The best news of all about the Bank of America® Business Advantage Cash Rewards Mastercard®?

This business credit card won’t come with an annual fee, so you’ll be able to access all of the perks and rewards that it offers for free.

That said, the Bank of America® Business Advantage Cash Rewards Mastercard® will come with a foreign transaction fee of 3% of every the U.S. dollar amount of all the money you spend overseas.

As a result, you’ll need to keep an eye on any spending you do abroad if you’re doing it with the Bank of America® Business Advantage Cash Rewards Mastercard®.

• You don’t want to pay an annual fee.
• You want to earn rewards in the form of cash back.
• You want an easy-to-access welcome bonus.

• You do a lot of your business spending abroad and want to dodge foreign transaction fees.
• You want long 0% intro APR period.
• You want an even more generous welcome bonus.

To start, the Bank of America® Business Advantage Cash Rewards Mastercard® comes with a pretty great sign up bonus.

The extra $300 is a great bonus for your business, especially if you’ll already be spending $3,000 in 3 months.

The Bank of America® Business Advantage Cash Rewards Mastercard® truly rewards you for business as usual with its welcome offer spending threshold.

The Bank of America® Business Advantage Cash Rewards Mastercard® offers up a solid cash back rewards rate. Plus, tiered rewards mean that you’re earning even more for specific, business-friendly purchase categories.

If you spend a lot at gas stations and office supply stores (or any of the categories mentioned above), you’ll really benefit from maximizing your earnings on the 3x cash back category up to the $50,000 spending cap it shares with the 2x cash back category.

Finally, the Bank of America® Business Advantage Cash Rewards Mastercard® is a great deal for small business owners who want sizable cash savings but don’t want to pay an annual fee.

No annual fee means that there’s no chance that you end up paying more than you’re earning with your credit card—of course, provided that you don’t make any late payments and consequently accumulate interest on a balance.

As a result, the Bank of America® Business Advantage Cash Rewards Mastercard® can grant you the peace of mind that comes with knowing that you’ll always only be earning with as you spend responsibly with this card.

First thing’s first, it’s important to note that the Bank of America® Business Advantage Cash Rewards Mastercard® will come with a foreign transaction fee.

This means that you’ll be charged a cool 3% of the U.S. dollar amount of any purchase you make while abroad. This could be a real deal breaker for business owners who are doing a lot of their business spending abroad.

The long and short of it?

If you are going to be making a lot of purchases overseas, we suggest you do so with a card without a foreign transaction fee.

Though it might be hard to believe, the Bank of America® Business Advantage Cash Rewards Mastercard®’s welcome bonus of $200 is actually pretty modest when you measure it against the welcome bonus that many competitors offer.

Of course, other top cash back cards will require that you reach pretty lofty spending thresholds in order to access their more generous welcome bonuses. As such, you’ll need to decide whether you want to prioritize accessibility or size when it comes to your cash back credit card’s welcome bonus.

If you’re not worried about reaching these lofty spending thresholds and you prefer to access a bigger bonus, then you should probably look beyond the Bank of America® Business Advantage Cash Rewards Mastercard® for your cash back needs.