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BEST FOR CHOICE OF CASH BACK CATEGORYBank of America® Business Advantage Customized Cash Rewards Mastercard® credit cardRegular APR 15.24% - 25.24% Variable APR on purchases and balance transfers Recommended Credit Score Excellent (740 - 850) Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card overviewThe Bank of America Business Advantage Customized Cash Rewards Mastercard credit card is an incredibly flexible business credit card with plenty of benefits. With it, you can earn 3 percent cash back on your chosen category. It is an excellent card for small businesses and freelancers going solo, giving them rewards tailored to their spending habits. This card notably has no annual fee. However, it has an annual spending limit of $50,000 in combined choice category/dining purchases each calendar year, 1 percent thereafter. This may limit the benefits available for companies that spend a lot. There is not much more to this card, but it is an excellent pick to earn cash back on your business spending. What are the pros and cons?Pros
Cons
A deeper look into the current card offerQuick highlights
Current welcome bonusOne of the benefits of the Business Advantage Customized Cash Rewards Mastercard is the welcome bonus. If you spend $3,000 within the first 90 days of account opening, you earn a $300 statement credit. This is a very reasonable target to hit, and a nice bonus to collect. Rewards rateAs a candidate for the best Bank of America business credit card, it has an excellent rewards structure in which you can personalize how you earn. Earning cash backCardholders can earn 3 percent cash back in their selected category, which can be any of the following:
You can change 3 percent category once each calendar month if you’d like, giving you even more flexibility. Also, the Business Advantage Customized Cash Rewards Mastercard includes a 2 percent cash back category for dining purchases. For all your other purchases, you earn 1 percent cash back. Remember that the Business Advantage Customized Cash Rewards Mastercard limit on combined 3 percent reward category and 2 percent dining category purchases is $50,000 in combined choice category/dining purchases each calendar year. If you reach this limit, you will earn 1 percent cash back on everything for the rest of the year. Redeeming cash backYou can redeem your cash back rewards in the following ways:
No matter which redemption method you pick, you will receive the same cash back value. Other cardholder perksDespite being a no-annual-fee business card, the Business Advantage Customized Cash Rewards card has some quality benefits. Customizable rewardsCustomizable rewards are not uncommon, but they’re an appealing benefit since you can match your cash back rewards to your spending habits. Moreover, you can change the category once on monthly basis. Excellent welcome offerA $300 statement reward for spending $3,000 within 90 days of card opening is a very achievable and rewarding bonus. This is especially true considering this card has no annual fee. Introductory interest for nine billing cyclesIf you are looking to make a major purchase, this Bank of America credit card could be very helpful. Using it lets you avoid interest charges for nine billing cycles from account opening thanks to the 0% intro APR on purchases. After this, the regular variable APR rate becomes 15.24% to 25.24% Variable. Rates and feesThe Business Advantage Customized Cash Rewards Mastercard does not have an annual fee. Additionally, the credit score requirement is excellent, which is a score of 740 or higher. If you’re interested in paying off debt with this card, the balance transfer fee is either 4 percent of the transaction or $10, whichever is greater. The Business Advantage Customized Cash Rewards card also has a 3 percent foreign transaction fee when buying items in a currency other than the U.S. dollar. How the Bank of America Business Advantage Customized Cash Rewards card compares to other business credit cardsThough the Business Advantages Customized Cash Rewards Mastercard is a solid business card option, it’s not for everyone. Two other credit cards you could also consider are the *Capital One Spark Cash for Business (This card is no longer available) and the American Express Blue Business Cash™ Card. The advantage of the Amex Blue Business Cash is its multifaceted rewards structure. Like One Spark Cash for Business, you earn cash back at a flat rate of 2 percent, but there’s an annual limit of $50,000 in purchases, then 1 percent. There is also no annual fee, and for the first 12 months, you have an introductory 0 percent APR on purchases. After that, it follows the regular APR rate of 16.24 percent to 24.24 percent (variable).
 Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card
3.5 Apply now on Bank of America's secure site Recommended credit Excellent(740 - 850)
Capital One Spark Cash for Business
4.2 Annual fee $0 intro for first year; $95 after that Recommended credit Good to Excellent(670 - 850)
American Express Blue Business Cash™ CardRecommended credit Good to Excellent(670 - 850) Best cards to pair with the Bank of America Business Advantage Customized Cash Rewards MastercardThe cash back you earn from this credit card is solid, but there are better cash back credit cards out there. Since it has a spending limit, it is a good idea to pair it with cards that have a flat reward rate for every purchase. This will help you earn greater rewards throughout the year. Bankrate’s Take — Is the Bank of America Business Advantage Customized Cash Rewards Mastercard worth it?This card might not be for everyone, but it is a solid option for a cash back business credit card. The reward rates are good enough, though it is disappointing that there is a spending limit. Other than the $50,000 reward limit, it doesn’t have any huge downfall. For rates and fees of the American Express Blue Business Cash™ Card , please click here. *All information about the Capital One Spark Cash for Business has been collected independently by Bankrate and has not been reviewed or approved by the issuer. What score do you need for Bank of America business credit card?Unlike some other small-business credit cards, which accept good credit scores (690 to 719 FICO), Bank of America® business credit cards generally require excellent credit scores (720+) to qualify.
Is Bank of America Cash Rewards credit card hard to get?The Bank of America Customized Cash Rewards card is as easy to get as most other no annual fee cash back credit cards. You'll just need to provide the typical personal information, Social Security number and total annual income through Bank of America's online application or over the phone by calling (800) 932-2775.
What is the credit limit on Bank of America Cash Rewards card?The credit limit for the Bank of America® Customized Cash Rewards credit card is usually at least $1,000 and can be much higher, with some cardholders reporting limits of over $50,000. Bank of America uses your income, credit profile, and other information to set your card's credit limit.
Does Bank of America business credit card do a hard pull?Editorial and user-generated content is not provided, reviewed or endorsed by any company. No, Bank of America doesn't do a soft pull for its credit cards; they will do a hard pull when you submit an application for any of their credit cards.
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Bank of america business cash rewards credit card
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