Bank of America® Business Advantage Unlimited Cash Rewards

Overview

Bank of America is currently one of the largest banks on the planet, with over 200,000 employees and total assets of over $3 trillion. It offers a variety of financial services, including bank accounts, mortgages, auto loans, investments, personal loans, and credit cards.

Among its credit card offerings is the Bank of America Business Advantage Unlimited Cash Rewards Mastercard®. This card offers cashback rewards on each purchase and doesn’t charge any annual fee. It has a $300 welcome bonus and 0% APR for your first nine billing cycles.

The card offers strong security features, such as fraud monitoring, and multi-channel customer support is available seven days a week if you have any issues or questions.

Suitable For?

The Bank of America Business Advantage Unlimited Cash Rewards card is best suited for companies that want a clear and straightforward no-fee credit card. It’s also great if you want rewards on every single purchase without dealing with a confusing cashback structure.

The card is especially good for Preferred Rewards for Business program members, as you’ll have access to bonus rewards.

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

Interest Rates and Fees

The Business Advantage Unlimited Cash Rewards card doesn’t have an annual fee. However, there’s a 3% foreign transaction fee and a 4% fee for cash advances and balance transfers.

The card has an interest rate of 17.49%-27.49% Variable for purchases and balance transfers and a 28.74% interest rate for cash advances.

Rewards and Cash Back

This card offers 1.5% cash back on all purchases, no matter what they are. It also has a straightforward rewards structure that lets you choose whether to receive your cash back as a deposit into a checking/savings account, a statement credit on your card, or a check in the mail. There’s also no limit to the amount of cash back you can earn.

If you’re a member of the Preferred Rewards for Business program, your business gets the following bonus rewards:

• Gold tier: 25% bonus rewards (average daily balance between $20,000 and $50,000 in your business deposit account)
• Platinum tier: 50% bonus rewards (average daily balance between $50,000 and $100,000 in your business deposit account)
• Platinum Honors tier: 75% bonus rewards (average daily balance over $100,000 in your business deposit account)

This card has a welcome bonus of $300 in statement credits, as long as you spend $3,000 on the card within the first 90 days of opening your account. There’s also 0% APR for your first nine months, but this is only on purchases, not balance transfers.

The Application Process

To apply, begin by going to the product page for this card on the Bank of America website and clicking “Apply now.” This takes you to the online application that asks you to provide some information, including:

• Your business name
• Business address
• Business legal and financial info (tax ID, business structure, industry, sales, etc.)
• Your personal information (name, address, email, phone number, Social Security Number, date of birth, and income)

After submitting the form, it may take a day or two for Bank of America to approve or deny your application. Once you’re approved, the company will send your card within 10 business days.

Overall, the online application is straightforward and only takes five to ten minutes in most cases.

Help and Support

Bank of America offers customer service over the phone 8am-9pm (ET) on weekdays, 8am-8pm (ET) on Saturdays, and 8am-5pm (ET) on Sundays.

In addition to phone support, the company also offers live chat for some products and services. Live chat hours are 8am-9pm (ET) on weekdays and 9am-8pm (ET) on Saturdays.

You can reach out to the company directly on social media platforms like Facebook and Twitter/X, as well.

With so many options, and the fact agents are available seven days a week, it’s incredibly easy to get support from Bank of America.

Security

Bank of America offers Secure Sockets Layer (SSL) encryption on its website and lets you set up both two-factor and biometric authentication to protect your account.

It’s also a member of the Federal Deposit Insurance Corporation (FDIC), which means all of your deposits will be protected up to $250,000 if the bank fails.

The company uses fraud monitoring to watch for suspicious activity on your card and has a dedicated fraud team with 24/7 availability. This card also comes with zero liability protection, which means you’re not responsible for unauthorized transactions as long as you report them correctly.

The Bank of America privacy policy details the type of personal information it collects, how it gathers it, how it’s used, and where it’s shared.

FAQs

How long does the introductory APR last?

The 0% introductory APR lasts for your first nine billing cycles. However, keep in mind that it only applies to purchases and not balance transfers.

What security features does the card come with?

The card offers several security features including zero liability protection, overdraft protection, paperless statements, and fraud monitoring.

Conclusion

The Bank of America Business Advantage Unlimited Cash Rewards Mastercard® credit card gives you 1.5% cashback on every purchase. It has no annual fee and there’s a generous welcome bonus and intro APR period. You can also choose how to receive your rewards. Applying online is quick and easy, and customer support is available seven days a week.

Methodology

This review was written using information from the Bank of America website.

Editorial Note

This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.