Bank of America Business Advantage Unlimited Cash Rewards Card Review

Bank of America has launched a new product, the Business Advantage Unlimited Cash Rewards card. This new card allows small business owners to earn unlimited 1.5% cash back on all purchases. It can go up to 2.62% on all purchases with a Preferred Rewards relationship.

Cash rewards don’t expire, and are easy to redeem. You can use it for any amount for statement credits or deposits directly into a Bank of America checking or savings account, or for credit to an eligible Merrill account. The Business Advantage Unlimited Cash Rewards card has no annual fee.

Welcome Bonus

Here’s the public offer which you can find on the Bank of America website:

Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening.
0% Introductory APR on purchases for 9 billing cycles from account opening.
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But there’s also a better bonus available through Bank of America small business bankers:

Get a $500 statement credit when you make at least $5,000 in net purchases within 90 days of your account opening.
0% Introductory APR on purchases for 9 billing cycles from account opening.
Rapid Travel Chai can put you in touch with a banker

Card Details

Earn unlimited 1.5% cash back on all purchases everywhere, every time.
You can earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means up to 2.62% cash back on all purchases.
No annual cap and cash rewards don’t expire.
Redeem cash back as a deposit into your Bank of America checking or savings account, as a card statement credit, or as a check mailed to you.
Travel accident insurance, auto rental insurance, emergency ticket replacement, and lost-luggage assistance.
No annual fee

Guru’s Wrap-up

This is a quite basic card. You earn 1.5% cash back on all purchases. There are no limits and your cash back never expires. You have several easy options to redeem such as statement credit, deposit to your account or just get a check. There are better cards out there that offer at least 2X back on every dollar spend. But the Bank of America Business Advantage Unlimited Cash Rewards card gets better if you have the highest Preferred Rewards for Business tier that gets you 2.62% cash back on all purchases.

Even if you don’t plan to use the card much in the long term, it could be worth getting just for the welcome bonus. The $300 bonus is not very enticing, but if you can get in touch with a banker and get the $500 bonus, that’s worth an application.