Review of the BofA Business Advantage Unlimited Cash Rewards Mastercard credit card: Earn cash back for your business.

Overview of the Bank of America Business Advantage Unlimited Cash Rewards Mastercard credit card.

The Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® is a great business credit card offering 1.5% cash back on all purchases. If you’re enrolled in the Bank of America Preferred Rewards® for Business program, you can earn up to 2.62% cash back on every purchase — one of the top flat-rate earning opportunities available. Plus, there's no annual fee, so you can focus on growing your business while earning rewards. Card rating*: ⭐⭐⭐½

*The card rating is based on TPG editors' opinions and is not influenced by the card issuer.

Managing your business finances doesn't have to be complex, which is why the Bank of America Business Advantage Unlimited Cash Rewards card is a perfect choice for earning and redeeming cash-back rewards without worrying about an annual fee.

This card is recommended for individuals with a credit score of 740 or higher. Let's explore the benefits it offers.

Pros and cons of the BofA Business Advantage Unlimited card.

Welcome offer for the BofA Business Advantage Unlimited card.

The BofA Business Advantage Unlimited card is currently offering a $300 online statement credit after you spend at least $3,000 within the first 90 days of opening your account.

The welcome bonus is relatively simple to earn, though it's not the most rewarding.

Benefits of the BofA Business Advantage Unlimited card.

The primary goal of the BofA Business Advantage Unlimited card is to offer straightforward cash-back earning and redemption options for business owners, which means it typically lacks the additional perks found on more premium cards.

This card offers several valuable travel and emergency services, including $100,000 in travel accident insurance, secondary car rental insurance, emergency ticket replacement, lost luggage assistance, and legal and medical referrals while you're abroad.

However, the card has a drawback: a 3% foreign transaction fee on international purchases, so it's better to use a different card when traveling outside the country.

Earning cash back with the BofA Business Advantage Unlimited card.

The main benefit of this card lies in its simplicity: cardholders earn 1.5% cash back on every purchase with no earning limits.

This card becomes even more rewarding for current Bank of America customers through the Preferred Rewards for Business program. To qualify, you'll need an active, eligible Bank of America business checking account and a three-month average daily balance of $20,000 or more in qualifying Bank of America business deposit or Merrill investment accounts.

While the BofA Advantage Unlimited is a great option for most business owners, it stands out even more for those with existing Bank of America business banking and investment accounts, offering the potential to earn up to 2.62% cash back.

How to redeem cash back with the BofA Business Advantage Unlimited card.

You can redeem your cash rewards from the BofA Business Advantage Unlimited card in three ways:

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

As long as your credit card account remains open, your rewards will never expire. TPG staff members, like Ryan Wilcox, use cash back credit cards, with redemption options depending on individual preferences.

Which cards compete with the BofA Business Advantage Unlimited card?

The business card market is highly competitive, with many options from various issuers. Let’s take a look at a few alternatives.

• If you prefer Chase: The Ink Business Unlimited® Credit Card from Chase matches the earning rate of 1.5% cash back on all business purchases and has no annual fee. Check out our review of the Ink Business Unlimited.
• If you want flexible redemption options: The Ink Business Preferred® Credit Card offers a $95 annual fee and access to 11 airline and three hotel transfer partners, making your points more valuable. Read our review of the Ink Business Preferred.
• If you want a solid earning rate and no foreign transaction fees: The Capital One Spark Cash Plus offers 2% cash back on all purchases with no foreign transaction fees, plus a $150 annual fee that can be refunded if you spend over $150,000 annually. Read our review of the Spark Cash Plus.

Is the BofA Business Advantage Unlimited card worth considering?

The BofA Business Advantage Unlimited card is a straightforward, hassle-free business credit card that provides business owners with confidence on every purchase. It's ideal for those who already bank with Bank of America, though it lacks special categories for bonus rewards and high-end benefits.

The bottom line

Some businesses may prefer earning cash back instead of points or miles, offering a simpler way to earn rewards. This lets business owners use their rewards however they wish—whether to reduce current costs or reinvest into growth and innovation.

The Bank of America Business Unlimited Cash Rewards card is a no-frills, accessible option, making it an excellent introductory card for many small-business owners.