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The Bank of America® Business Advantage Unlimited Cash Rewards Credit Card earns a straightforward 1.5% cash back on all purchases (no cap), comes with a decent intro APR, and has flexible redemption options. So if your small business is looking for simple rewards and decent benefits for no annual fee, then the Bank of America® Business Advantage Unlimited Cash Rewards Credit Card is worth considering. But if you spend big in certain categories (like travel purchases and office supplies), or are looking for higher reward rates, there are better no-annual-fee small-business cards on the market.
Review: Is the Bank of America Business Advantage Unlimited Cash Rewards the best credit card for you?
If your business expenses vary, and you don’t want to juggle spending categories, you should consider the no-annual-fee Bank of America® Business Advantage Unlimited Cash Rewards Credit Card. It earns unlimited 1.5% cash back on every purchase and a solid welcome bonus: a Bank of America® Business Advantage Unlimited Cash Rewards Credit Card.
This card is great for folks looking to earn simple flat-rate rewards on business expenses, with no cap on how much you can earn. And there are solid redemption options so you can decide the best way to use your cash back.
Folks looking for high reward earnings on select bonus categories (like cash back on travel bookings and office supplies) should consider a different cash-back card. For example, the Bank of America Business Advantage Customized Cash Rewards Credit Card earns 3% on a category of your choosing (gas, travel, office supplies stores, computer services, and business consulting services) and 2% on dining, and 1% on everything else.
The Bank of America® Business Advantage Unlimited Cash Rewards Credit Card has strong benefits for a no-annual-fee card. You’ll get travel emergency coverage (such as $100,000 in travel accident insurance, auto rental insurance, and lost luggage insurance), overdraft protection, and extended warranty coverage. However, it does have a foreign transaction fee, so it’s not a good option for international travel.
If you’re looking for luxurious travel benefits, you might want to consider a premium travel rewards card. Although good travel cards often come at a cost, businesses that spend a lot on travel might find the generous benefits more than worth it.
But if your small business doesn’t spend big in one category, the Bank of America® Business Advantage Unlimited Cash Rewards Credit Card definitely still worth considering since you’ll earn rewards on multiple spending categories without restrictions. Plus, if you’re a Bank of America Preferred Rewards member, which requires meeting certain account balance requirements, you can earn up to 75% more cash back on purchases.
The Bank of America® Business Advantage Unlimited Cash Rewards Credit Card has a Bank of America® Business Advantage Unlimited Cash Rewards Credit Card (then a Bank of America® Business Advantage Unlimited Cash Rewards Credit Card APR). This is great for small businesses needing to pay off larger purchases (like equipment, computers, or other supplies) over multiple billing cycles. However, the 0% APR deal doesn’t apply to balance transfers, so it’s not a good option for folks trying to pay down credit card debt.
There are also other small business rewards cards with longer intro APR deals. For example, the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® earns a U.S. Bank Business Triple Cash Rewards World Elite Mastercard® (then a U.S. Bank Business Triple Cash Rewards World Elite Mastercard® APR). So if you need to prioritize APR offers, you should consider a credit card with a significant introductory APR offer.
We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
How to earn cash back from the Business Advantage Unlimited Cash Rewards card
The Bank of America® Business Advantage Unlimited Cash Rewards Credit Card earns a straightforward 1.5% cash back (equal to $0.015 for every $1 spent) on all purchases, with no cap. Your rewards won’t ever expire as long as your account is open.
Plus, Bank of America Preferred Rewards members can earn up to 75% more cash back on purchases (rates vary based on tier level). This means you can earn up to 2.62% cash back on all purchases (no cap).
Bank of America Preferred Rewards for Business tiers
Gold tier: Earns 25% more cash back on purchases (minimum of $20,000 combined total in eligible Bank of America accounts)Platinum tier: Earns 50% more cash back on purchases (minimum of $50,000)Platinum honors tier: Earns 75% more cash back on purchases (minimum of $100,000)
The Preferred Rewards program also earns you benefits such as a discount on ATM transaction fees, cash back on eligible payroll service fees, and discounts on commercial real estate loans.
How to use cash back rewards from the BofA Business Advantage Unlimited Cash Rewards
You can redeem cash-back rewards earned with the Bank of America® Business Advantage Unlimited Cash Rewards Credit Card as a statement credit, a check, a direct deposit into your Bank of America checking or savings account, or as a credit to an eligible Merill investment account. Rewards are redeemable at any time.
While your rewards won’t expire, keep in mind that cash rewards checks will expire after 90 days. So if you prefer to receive cash back as a check, make sure to deposit it into your Bank of America account in a timely manner. Or you could skip the extra step altogether and redeem your rewards as a direct deposit.
Bank of America Business Advantage Unlimited Cash Rewards benefits and features
$0 liability protection
If your Bank of America account is lost or stolen, and you notify the bank in a timely manner, you won’t be held responsible for unauthorized transactions. But if you don’t report the lost or stolen card, you won’t be eligible to receive this benefit.
Cash flow management tools
Your business will get access to management services such as automatic payments, transfers, and the ability to download transactions into QuickBooks.
Travel and emergency services
You’ll receive travel benefits like auto rental insurance, emergency ticket replacement, lost luggage assurance, and legal and medical referrals while traveling. Most notably, you’ll get $100,000 in travel accident insurance.
Online and mobile access
You can securely manage your account either online or through the Bank of America app. Whether online or in the app, you can check your business’s balance and monitor account activity.
Overdraft protection
You can avoid declined purchases or returned checks when you link your Bank of America checking account to an eligible credit card. Plus, you won’t receive an overdraft fee (other fees may still apply).
Fraud protection and monitoring
Bank of America will notify you if it detects potentially fraudulent activity or abnormal patterns.
Fees and Costs
The Bank of America® Business Advantage Unlimited Cash Rewards Credit Card comes with a decent Bank of America® Business Advantage Unlimited Cash Rewards Credit Card (then a Bank of America® Business Advantage Unlimited Cash Rewards Credit Card APR).
It has a balance transfer fee, a cash advance fee, a late payment fee of up to $49, and a 3% foreign transaction fee. Since the card charges a foreign transaction fee, it’s not a good card to travel internationally with.
Business Advantage Unlimited Cash Rewards vs other Bank of America credit cards
Bank of America® Business Advantage Unlimited Cash Rewards Credit CardBank of America Business Advantage Customized Cash Rewards Credit CardBank of America® Business Advantage Travel Rewards World Mastercard® Credit CardAnnual feeBank of America® Business Advantage Unlimited Cash Rewards Credit CardBank of America Business Advantage Customized Cash Rewards Credit CardBank of America® Business Advantage Unlimited Cash Rewards Credit CardRewards rates1.5% cash back on purchases, no cap (Preferred Rewards members can earn up to 75% more rewards)
3% cash back* in a category of your choice each calendar month***
2% cash back at grocery stores and wholesale clubs*
1% cash back on all other purchases
1.5% cash back on all purchasesWelcome bonusBank of America® Business Advantage Unlimited Cash Rewards Credit CardBank of America Business Advantage Customized Cash Rewards Credit CardBank of America® Business Advantage Unlimited Cash Rewards Credit CardBenefits
$0 liability protection
Purchase protection
Cash flow management tools
Travel and Emergency Services
Online and Mobile Access
Overdraft protection
Fraud monitoring
Bank of America Business Advantage Customized Cash Rewards Credit Card (then a Bank of America Business Advantage Customized Cash Rewards Credit Card APR)
Cash flow management tools
Travel accident insurance
Auto rental insurance
Emergency ticket replacement
Lost-luggage assistance
Legal and medical referrals
Online and mobile access
$0 liability protection
Purchase protection
Extended warranty coverage
Overdraft protection
Fraud monitoring
Bank of America® Business Advantage Unlimited Cash Rewards Credit Card (then a Bank of America® Business Advantage Unlimited Cash Rewards Credit Card APR)
Travel accident insurance
Auto rental insurance
Emergency ticket replacement
Lost-luggage assistance
Legal and medical referrals
Online and mobile access
$0 liability protection
Purchase protection
Extended warranty coverage
Review Business Advantage Customized Cash Rewards reviewBusiness Advantage Travel Rewards World Mastercard review
*On the Bank of America Business Advantage Customized Cash Rewards Credit Card, earn 3% and 2% cash back on up to the first $50,000 spent in these categories combined each year, then 1% cash back
***Eligible Bank of America Business Advantage Customized Cash Rewards Credit Card 3% categories are gas stations, office supply stores, travel, TV/telecom & wireless, computer services, and business consulting services
Business Advantage Unlimited Cash Rewards vs other business cash back cards
Bank of America® Business Advantage Unlimited Cash Rewards Credit CardAmerican Express Blue Business Cash™ CardU.S. Bank Business Triple Cash Rewards World Elite Mastercard®Annual feeBank of America® Business Advantage Unlimited Cash Rewards Credit CardAmerican Express Blue Business Cash™ CardU.S. Bank Business Triple Cash Rewards World Elite Mastercard®Rewards rates1.5% cash back on purchases, no cap (Preferred Rewards members can earn up to 75% more rewards)
2% cash back on eligible purchases up to $50,000 per calendar year (then 1% cash back as a statement credit)
5% cash back on prepaid hotel and car rentals booked directly in the Travel Rewards Center
3% cash back on eligible purchases at gas and EV charging stations, office supply stores, cell phone service providers, and restaurants
1% cash back on all other purchases
Welcome bonusBank of America® Business Advantage Unlimited Cash Rewards Credit CardAmerican Express Blue Business Cash™ CardU.S. Bank Business Triple Cash Rewards World Elite Mastercard®Benefits
$0 liability protection
Purchase protection
Cash flow management tools
Travel and Emergency Services
Online and Mobile Access
Overdraft protection
Fraud monitoring
Extended warranty
Purchase protection
Car rental loss and damage insurance
Global assist hotline
Dispute resolution
Amex offers
Account Alerts
Vendor Pay
U.S. Bank Business Triple Cash Rewards World Elite Mastercard® (then a U.S. Bank Business Triple Cash Rewards World Elite Mastercard® APR)
Annual software credit
24/7 customer service
US Bank ExtendedPay Plan
Track spending tools
Real-Time rewards
Review Amex Blue Business Cash card reviewUS Bank Triple Cash Rewards card review
*On the Bank of America Business Advantage Customized Cash Rewards Credit Card, earn 3% and 2% cash back on up to the first $50,000 spent in these categories combined each year, then 1% cash back
***Eligible Bank of America Business Advantage Customized Cash Rewards Credit Card 3% categories are gas stations, office supply stores, travel, TV/telecom & wireless, computer services, and business consulting services
Bank of America Business Advantage Unlimited Cash Rewards frequently asked questions (FAQ)
Is the Business Advantage Unlimited Cash Rewards card worth it?
If your small business is looking for a no-annual-fee cash-back card with straightforward rewards rates, decent benefits, and a solid welcome bonus, the Bank of America® Business Advantage Unlimited Cash Rewards Credit Card might be a good fit. The card also has a generous introductory APR on purchases, which can benefit folks trying to pay off larger purchases without incurring interest. The Bank of America® Business Advantage Unlimited Cash Rewards Credit Card earns even more cash back for Preferred Rewards members.
But if your business spends big in select categories, you’re probably better off with a rewards card that earns bonus rewards specifically in those categories. Also, if you need to pay down credit card debt, you should look for a card with an APR deal that covers balance transfers as well as purchases.
What credit score do you need to qualify for the Business Advantage Unlimited Cash Rewards credit card?
You need excellent credit to qualify for the Bank of America® Business Advantage Unlimited Cash Rewards Credit Card. That’s a FICO score of at least 800, or a VantageScore of at least 781.
Can you link your Bank of America business account to a personal account?
You may be able to link your Bank of America business account to your personal account if you’re the sole proprietor. You’ll need your Social Security number as a Tax ID number when you request the link. But it’s crucial to keep your business expenses and your personal expenses separate.