Bank of America Business Advantage Cash Rewards Mastercard® credit card

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Spend big on gas and office supplies? This card gives the best rewards of the small biz bunch.

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If you spend big, like up to $250,000 annually big, in combined gas and office supplies purchases, the Bank of America Business Advantage Cash Rewards Mastercard will give you the best rewards out of the small business card bunch.

But unless your spending is targeted primarily in those areas, other cards have the potential for greater rewards.

Review

If you’re the type of business owner that has a small fleet of vehicles and spends a lot on office supplies, you can take this card to the bank — literally.

Not only does this card pay 3% cash back at gas stations and office supply stores, it has one of the highest annual spending caps in a bonus category among small business credit cards — $250,000 in combined spending before your rewards rate drops down to 1%. This means you could earn back as much as $7,500 on your spending before your rewards rate drops.

You’ll also earn 2% cash back on purchases at restaurants and 1% on all other purchases.

Business Advantage also boasts a nice sign-up bonus. Get a $200 statement credit when you make at least $500 in net purchases within the first 60 days of opening an account.

Who should get this card

Any business owner who spends heavily on gas and office supplies can benefit from owning this card.

Advantages
  • The sign-up bonus is easily attainable and fairly generous given there's no annual fee.
  • Enjoy a 0% introductory offer on purchases for nine billing cycles, a nice break on interest for businesses who are just starting out.
  • The rewards are generous in the areas many businesses are likely to spend the most.
Disadvantages
  • Although there’s an introductory APR offer on purchases, there isn’t a break on balance transfers.
  • The bonus rewards categories on this card may not be in areas your business has expenditures.
  • Unlike some other cards’ dining rewards, this card only pays 2% on actual restaurants. Coffee shops and bakeries are among the places that do not qualify.
  • The parameters for what counts as an eligible office supply store purchase excludes discounters, warehouse clubs and “merchants that sell high-priced office equipment such as computers or desk units.”
  • This card has a foreign transaction fee, so it’s not a good choice for international travel or purchases.

Fees and APR

  • Enjoy an introductory 0% APR offer for nine billing cycles on purchases.
  • Pay no annual fee.
  • There’s a balance transfer fee of $10 or 4% of the amount of each transaction, whichever is greater.
  • This card has a 3% foreign transaction fee on purchases made outside the U.S.
  • Late payments won’t affect your APR, but you may be subject to a late fee of up to $49.
  • This card comes with a variable APR of 12.99% to 22.99%.

Extras, perks and using rewards

You can start redeeming your cash back after earning at least $25 in rewards. You can redeem your rewards as a statement credit or a deposit in your Bank of America checking or savings account.

Additional employee cards are free.

This card comes with travel and emergency protections, including travel accident insurance, auto rental insurance and lost luggage assistance.

How this card compares

Ink Business Cash℠ Credit Card
  • 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

This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit our 0% apr category page.

Credit Needed

Excellent

Regular APR

0% fixed Intro APR for the first 12 months that your Account is open. After that, 14.99% to 20.99%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate.

Annual Fee

No Annual Fee.

Balance Transfers Intro APR

0% fixed Intro APR for the first 12 months that your Account is open. After that, 14.99% to 20.99%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate.

If you’re just starting out and you aren’t sure what your spending patterns will be, the Ink Business Cash Credit Card may be the flexible rewards card you need. It’s among our favorite business credit cards. The no-fee card will reward you for spending in the areas you’ll most likely need to get your business off the ground and gives you a full year break on interest for purchases and balance transfers.

Capital One® Spark® Cash Select for Business
  • Earning unlimited 1.5% cash back could mean thousands of dollars each year going back into your business
  • Plus, a one-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening
  • Save on interest with 0% intro APR on purchases for 9 months; 14.74% - 22.74% variable APR after that
  • No annual fee
  • Use Spark Cash Select across all your business spend, with no categories to limit your purchasing
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • Get employee cards at no additional cost, and earn rewards from their business spend
Credit Needed

Excellent, Good

Regular APR

14.74% - 22.74% (Variable)

Annual Fee

$0

Purchase Intro APR

0% on purchases for 9 months

Balance Transfers Intro APR

N/A

The Capital One Spark Cash Select for Business ranks among the best on the market, particularly because of its unfussy rewards program that doesn’t pay different rates for different categories of spending. To us, that kind of program is the most flexible.

Although anyone looking at this card should also consider the Capital One Spark Cash for Business, which charges an annual fee after the first year, but also offers a slightly higher rewards rate and a more lucrative sign-up bonus.

Capital One® Spark® Cash for Business
  • Earning unlimited 2% cash back could mean thousands of dollars each year going back into your business
  • Plus, a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
  • Use Spark Cash across all your business spend, with no categories to limit your purchasing
  • $0 intro annual fee for the first year; $95 after that
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • Get employee cards at no additional cost, and earn rewards from their business spend
Credit Needed

Excellent, Good

Regular APR

18.74% (Variable)

Annual Fee

$0 intro for first year; $95 after that

Purchase Intro APR

N/A

Balance Transfers Intro APR

N/A

The Capital One Spark Cash for Business card pays an unlimited 2% cash back on all spending and waives the first year fee. If you find it cumbersome to track which categories you’re spending or your expenditures exceed the bonus category caps set by some cash-back business credit cards, this might be a more favorable choice for you.

SimplyCash® Plus Business Credit Card from American Express
  • Special offer: save on interest with a 0% intro APR on purchases for 15 months; after that your APR will be a variable rate, currently 13.99% - 20.99%
  • No annual fee
  • Reinvest in your business with automatic cash back in the form of a monthly statement credit. Plus take control by choosing the 3% category that best fits your business
  • Earn 5% cash back on the first $50,000 spent at wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores.
  • Earn 3% cash back on the first $50,000 spent in the category of your choice from a list of eight and 1% cash back on other purchases
  • With Expanded Buying Power you can spend beyond your credit limit* to make bigger purchases for your business plus earn cash back on those purchases too
  • *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors
  • Terms apply
Credit Needed

Excellent Credit

Regular APR

13.99% - 20.99% Variable

Annual Fee

$0

Purchase Intro APR

0% on Purchases for 15 months

Balance Transfers Intro APR

N/A

SimplyCash Plus Business Credit Card from American Express is among the very best business rewards credit cards on the market. In just about every respect — from rewards to the annual fee — this card stands tall among the elite business cards on the market.

The only reasons to shy away from this card would be if your work requires significant overseas travel or if your biggest expenses don’t match up with the bigger cash-back savings categories.

EDITORIAL NOTE

Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.