Bank of America Business Advantage Unlimited Cash Rewards Mastercard credit card overview

This is a business-friendly credit card, with 1 Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit. 5% cash back on every purchase. Bank of America Preferred Rewards® for Business program If you qualify, you can earn up to 2. s get 62 per cent of cash back for every purchase one that is the highest flat-rate earner rates on a cash-back business card. Best part? No annual fee for **Card rating -** 12,

* Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.

It’s the last thing you want to do is overcomplicate your finances when it comes to owning and running a business. In addition, for this reason, a card like the Bank of America Business Advantage Unlimited Cash Rewards card is regarded as ‘good cash-back rewards on your business expenses with no annual fee.

To get approval for this card, TPG recommends applicants with a credit score of 740 or above. If you have a business, let’s look at the card and see whether it is good for your business.

Related: Everything you should know about Bank of America’s Preferred Rewards program

BofA Business Advantage Unlimited pros and cons

| Pros | Cons |
| — | — |
| * No annual fee * Earn cash back on every purchase | * Limited perks |

BofA Business Advantage Unlimited welcome offer

After spending $5,000 on purchases in the first 90 days of your account opening, the BofA Business Advantage Unlimited is now offering a $500 online cash rewards bonus for their customers.

THE POINTS GUY

It’s just a relatively simple welcome bonus to earn, though not as lucrative as many travel business cards. Or it’s $500 back to your company bottom line, either way.”

Related: The best time to apply for these 9 popular travel credit cards based on offer history

BofA Business Advantage Unlimited benefits

The BofA Business Advantage Unlimited’s main purpose is to provide business owners with a way of making money back on all their costs. However, it does not offer some of the advantages you may see in high-end travel business cards.

A few noteworthy travel and emergency services benefits with this card include:

• $100,000 in travel accident insurance
• Emergency ticket replacement
• Legal and medical referrals when you’re away from home
• Lost luggage assistance
• Secondary car rental insurance

This card has a downside It charges 3% foreign transaction fee on purchases made abroad, so you’ll want to use another card when you are traveling outside the U.S.” s S

Related: Foreign transaction fees: Everything you need to know

Earning cash back on the BofA Business Advantage Unlimited

Its sheer simplicity is the key value of this card cardholders make 1. s get 5% cash back on all purchases, no limit on how much cash money can they earn.

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This card is also a valuable credit for existing Bank of America customers, as it has the Preferred Rewards for Business program. To qualify, you need an active, eligible Bank of America business checking account and a three-month average daily balance of at least $20,000 in your qualifying Bank Of America bank deposit or Merrill business investment accounts.

| Preferred Rewards for Business tier | Assets required | Credit card bonus | Bonus with the Bank of America Business Advantage Unlimited |
| — | — | — | — |
| Gold | $20,000-$49,999 | 25% bonus | Earn 1.875% cash back on all purchases |
| Platinum | $50,000-$99,999 | 50% bonus | Earn 2.25% cash back on all purchases |
| Platinum Honors | $100,000+ | 75% bonus | Earn 2.62% cash back on all purchases |

Despite the BofA Business Advantage Unlimited being a solid no-annual-fee option for many business owners, earning up to 2 as long is an ability that can be earned. For those who already have business bank and investment accounts with Bank of America, it is particularly interesting to see 62 per cent cash back on everything.

Related: The best Bank of America credit cards

Redeeming cash back on the BofA Business Advantage Unlimited

There are three ways to redeem your cash rewards from the BofA Business Advantage Unlimited card:

• Deposit into your Bank of America checking or savings account
• Redeem for a statement credit
• Opt for a check to be mailed to you

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Your rewards do not expire as long as your credit card account is open.

Related: Why you may want a cash-back card

Which cards compete with the BofA Business Advantage Unlimited?

So, it’s worth examining your options as the business card market has competitive alternatives to other banks too. Here’s a look at some other cards to see out for the future.

• If you prefer Chase: The

Ink Business Unlimited® Credit Card

(see

rates and fees

The same earning rate 1-1 from Chase is for s ) of Chase. You get 5% cash back on every purchase for your business, and it’s not an annual fee. read out our .

review of the Ink Business Unlimited

.

• If you prefer flexible redemption options: The

Ink Business Preferred® Credit Card

(see

rates and fees

The best business cards on the market is ) with a manageable $95 per year fee, one of the top-rated business card options available. Here you can find a .

Chase’s airline and

hotel transfer partners

, where your points can be worth more. Read our

review of the Ink Business Preferred

.

• If you prefer a solid earning rate and no foreign transaction fees: The

Capital One Spark Cash Plus

offers a competitive 2% cash back on all purchases. In addition, when it purchases abroad, it doesn’t charge foreign transaction fees. Card includes a small $150 annual fee (refunded if you spend at least $150,000 on the card each year) and it is paid by s. Watch us read our ».

review of the Spark Plus Cash

.

Related: Chase Ink Business Preferred vs. Ink Business Unlimited: Which Ink card is best for your business?

Is the BofA Business Advantage Unlimited worth it?

A simple, no-fuss business credit card like the BofA Business Advantage Unlimited is a peace of mind for business owners to make every transaction. For those who already have Bank of America accounts and qualify for Preferred Rewards for Business, it’s best to get a . Nevertheless, this card does not have bonus categories, premium benefits or the ability to transfer rewards from one of the airlines or hotels.

Bottom line

Some companies prefer cash back to points and miles for a more straightforward way to earn rewards on their business costs. In that way, business owners can spend their rewards exactly what they want and reduce the total cost of a business.

The Bank of America Business Advantage Unlimited Cash Rewards is a good starter card for many small-business owners, and it’s an approachable, no-frills business card.

Apply here: Bank of America Business Advantage Unlimited Cash Rewards Mastercard

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