BofA Business Advantage Cash Rewards, $300 Bonus Plus Six 3% Categories Options
Bank of America has revamped its Business Advantage Cash Rewards Mastercard. The card now has a $300 bonus plus a different sent of 3% bonus categories to choose from. Let’s look at the details.
$300 online statement credit bonus offer – Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening.
No annual fee.
Bank of America Business Advantage Cash Rewards Mastercard previously earned 3% cash back at gas stations and office supply stores. Now the credit card lets you choose your own 3% category from a list of common expenses. Those six categories include:
- gas stations
- office supply stores
- television/telecom and wireless
- computer services
- business consulting services
You also earn 2% cash back on purchases at restaurants.
While you have more flexibility now with the six categories, there’s also some negative changes. Under this card’s previous rewards structure, you earned 3% cash back on $250,000 a year in combined spending at gas stations and office supply stores. The 2% cash back at restaurants was unlimited. Now Bank of America has lowered the annual limit to $50,000 in combined purchases on both the 3% and 2% categories.
If you’re a Business Advantage Relationship Rewards client, you can get an additional 25% – 75% rewards bonus on the base earn of every purchase you make. Learn more about Relationship Rewards.
The usual bonus is $200, but we have also seen bonuses as high as $350. Keep in mind that the Business Advantage Relationship Rewards bonus doesn’t apply to the signup offer, only to cashback earned through spending.
Bank of America business cards do not get reported to personal credit agencies. So this could be an option for those looking for cashback bonuses while staying under 5/24.