How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.
The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card is ideal for small business owners who want a $0-annual-fee credit card to manage cash flow and earn cash back. And if your spending patterns fluctuate from time to time, you’ll love that this card lets you choose from six different cash back categories. There’s also an intro APR period that can help finance a big-ticket purchase.
Intro Purchase APR
0% Introductory APR on purchases for the first 9 billing cycles
Regular Purchase APR
18.49% - 28.49% Variable APR
Intro BT APR
N/A
Regular BT APR
18.49% - 28.49% Variable APR on balance transfers
Annual Fee
$0
Cash Advance Fee
4% of the amount of each transaction. Includes Convenience Checks.
Foreign Transaction Fee
3% of the U.S. dollar amount of each transaction
Balance Transfer Fee
4% of the amount of each transaction.
Choose your 3% category
This card’s rewards program is uniquely flexible. You’ll earn 3% cash back in the category of your choice (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter), 2% cash back on dining purchases (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter) and 1% cash back on all other purchases. Options for your 3% cash back category include the following:
Plus, with the Preferred Rewards for Business program, you have an opportunity to earn from 25% to 75% more cash back (enrollment required). That means with this card, you could earn up to:
Note that the $50,000 annual spending cap on the elevated cash back rates still applies.
Chance to earn a sign-up bonus
Earn a Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening. While the spend requirement is on the high side, the payout is solid.
Intro APR period on purchases
If your business needs to finance a big-ticket item, you can take advantage of a 0% Introductory APR on purchases for the first 9 billing cycles. After, a 18.49% - 28.49% Variable APR applies.
No annual fee
Many business cards have annual fees around $95, with some upward of $500. The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card charges a $0 annual fee.
Cap on elevated earning rates
There’s a $50,000 combined spending cap per calendar year on the 3% and 2% cash back rates. (You’ll earn just 1% back on all purchases after that.) That said, it’s a fairly generous cap. If you maxed out the spending cap by spending only on purchases eligible for 3%, you’d earn $1,500 in cash back at the elevated rate.
Charges a foreign transaction fee
If traveling abroad, beware the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card‘s foreign transaction fee: 3% of the U.S. dollar amount of each transaction.
If you often have to travel for business, the Ink Business Preferred® Credit Card might be a better fit than the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card.
For one thing, the Ink Business Preferred® Credit Card has a $0 foreign transaction fee. And for another, the Ink Business Preferred® Credit Card earns flexible Chase Ultimate Rewards® points. These points are worth 25% more when you redeem them for travel through the Chase Ultimate Rewards® portal, or you can transfer them at a 1:1 rate to the following airline and hotel partners:
There’s a valuable sign-up bonus, where cardholders can earn 90,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. For ongoing rewards: Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases-with no limit to the amount you can earn.
However, the Ink Business Preferred® Credit Card does charge a $95 annual fee.
There’s also no intro APR, so you’ll start off right away at the regular 20.74% - 25.74% variable APR.
| Credit Cards | Our Ratings | Welcome Offer | Rewards Rate | Annual Fee | Recommended Credit Credit scores ranges may vary. Your individual chance at approval may vary due to factors such as creditors using a particular variation at their discretion | |
|---|---|---|---|---|---|---|
|
Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card*
|
Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening. | Earn 3% cash back in the category of your choice (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter), 2% cash back on dining purchases (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter) and 1% cash back on all other purchases | $0 | Excellent | ||
Ink Business Preferred® Credit Card
 Apply Now
on Chase's secure site |
Earn 90,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. | Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases-with no limit to the amount you can earn. | $95 | Excellent |
Apply Now
on Chase's secure site |
|
Ink Business Cash® Credit Card
Apply Now
on Chase's secure site |
Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening. | Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn. | $0 | Excellent |
Apply Now
on Chase's secure site |
|
Capital One Spark Cash Select
Apply Now
on Capital One's secure site Rates & Fees |
$500 Cash Back once you spend $4,500 on purchases within the first 3 months from account opening | 1.5% Cash Back on every purchase; 5% Cash Back on hotels and rental cars booked through Capital One Travel | $0 | Excellent |
Apply Now
on Capital One's secure site Rates & Fees |
If you need the flexibility to change earning categories frequently, the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card may be a great card for your wallet. For instance, let’s say that one month you have to spend a lot on computer equipment, and the next month you know you’re going to have to do a lot of driving and spend a lot on gas. In this case, being able to pick a new 3% category each month may make sense for you.
However, if business travel often takes you abroad, this might not be the best card for you due to its foreign transaction fee. In that case, consider a card such as the Ink Business Preferred® Credit Card instead.
For Capital One products listed on this page, some of the above benefits are provided by third parties such as Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as certain terms, conditions, and exclusions apply.
The information related to the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
