Bank of America
Business Advantage Customized Cash Rewards Mastercard
No-fee business cash back card with flexible 3% category selection, 2% dining rewards, and a $500 welcome bonus for small business owners.
Annual fee
None
Top rate
3x online shopping
Quick look
Customizable 3% rewards
Earn 3% cash back in your choice of categories
3.8
out of 5
Rewards
Fees
Welcome bonus
Perks
Value
Overall score is a weighted average: Rewards 20% · Fees 20% · Welcome bonus 20% · Perks 20% · Value 20%.
Ideal for
Small business owners with steady, predictable spending under $50,000 annually in a single bonus category, especially Bank of America Preferred Rewards members.
The verdict
This card lands in an awkward middle ground. For businesses under $50,000 in annual bonus-category spending, the no-fee structure and flexible 3% rate make it a workable baseline—you're not paying for rewards you won't use. But the 23rd-place ranking in online shopping (against no-fee peers that beat it handily) and a $500 welcome bonus that pales next to Chase's $1,000 on the Ink Business Cash suggest you're settling, not choosing.
The real winner here is the Bank of America Preferred Rewards customer who can amplify these rates to 5.25% on their chosen category. For everyone else, this is a practical no-fee option if your business spending patterns fit neatly into one of the six available categories.
Pros
- No annual fee—genuine value for small businesses that don't need premium perks
- Customizable 3% category changes monthly, letting you chase your business's real spending patterns
- 0% intro APR for 7 billing cycles eases cash flow early on
- Rewards never expire as long as the account stays open
Cons
- 3% and 2% rates cap at $50,000 annual combined spending; everything above that earns just 1%
- 3% foreign transaction fee makes international purchases expensive
- $500 welcome bonus after $5,000 spend is modest—competitors offer $1,000+
- Thin benefit set: travel accident insurance and rental car coverage don't offset the card's limitations for higher-spend businesses
Reward rates
| Category | Rate | Details |
|---|---|---|
| Online shopping | 3x | 3% cash back on your choice of: gas stations & EV charging stations, office supply stores, travel, TV/telecom & wireless, computer services, or business consulting services |
| Dining & restaurants | 2x | 2% cash back on dining purchases |
| Everything else | 1x | 1% cash back on all other purchases |
The customizable 3% category is the centerpiece—pick from gas stations, office supply stores, travel, TV/telecom/wireless, computer services, or business consulting. You can switch once a month to chase your actual spending. The problem is the $50,000 annual spending cap on combined 3%/2% purchases. Businesses that spend more than that hit the 1% floor fast, which explains why this card ranks 23rd in online shopping against 32 competing cards. For steady single-category spenders, it works. For diversified or high-volume businesses, it falls flat.
Fees and APR
Does it pay for itself?
Zero annual fee is the baseline strength here. You're not paying for a card you don't need. But the 3% foreign transaction fee stings internationally, and the 16.74–26.74% regular APR after the intro period is standard—not a selling point.
Welcome bonus
Is it worth chasing?
$500 cash rewards bonus after you spend $5,000 in the first 90 days is a low bar to clear, but $500 is also half what Chase's Ink Business Cash offers for similar spending. If your business can hit $5k quickly, you get a clean $500 windfall. If it can't, or if you're comparing this to competitors, the bonus underwhelms.
Other benefits
- Zero liability protection on unauthorized transactions
- Purchase protection on items purchased with the card
- 1% additional cash back on all purchases when you enroll in Bank of America Preferred Rewards for Business and meet spending tiers
- Access to Bank of America business tools and resources
Similar cards
Better welcome bonus ($1,000) and higher base rewards, but fixed categories instead of customizable
Personal version of this card—same structure, rewards, and cap, but for consumer spending
Frequently asked questions
Can I change my bonus category more than once a month?
No. You can switch your chosen 3% category once per calendar month. After you've switched, you'll need to wait until the next calendar month to switch again. Plan your switches around your business's seasonal spending patterns.
What happens when I hit the $50,000 spending cap?
Once you and authorized users hit $50,000 in combined spending on your 3% category and dining in a calendar year, all further spending in those categories earns 1% cash back for the rest of the year. Everything else already earns 1%, so you'll be at the base rate. The cap resets January 1st.
Does Bank of America Preferred Rewards boost my rewards?
Yes. If you're a Preferred Rewards customer, you can earn up to a 75% rewards bonus, pushing your 3% category up to 5.25% and your 2% dining to 3.5%. You'll need Platinum Honors status ($20,000+ in qualifying deposits/investments) for the maximum bonus.
Is there a business credit score requirement?
Bank of America doesn't publicize a minimum, but NerdWallet and other reviewers note this card requires excellent personal credit. Expect a credit score in the 740+ range for approval.
What happens to my rewards if I close the card?
Rewards don't expire as long as your account remains open and active. If you close the card, you'll need to redeem or transfer any remaining rewards before doing so.
Reviewed by YoungerFinance Editorial · Last updated August 10, 2026