Travelbreaking news
Bank of America Business Advantage Customized Cash Rewards Card: 3% Back on the Category You Pick
The no-annual-fee business Mastercard lets you choose your 3% category, and a Preferred Rewards boost can lift the top rate to 5.25%.
The 3% choice category
The Bank of America Business Advantage Customized Cash Rewards Mastercard pays 3% cash back in the category the cardholder chooses. [1] The 3% rate applies to the first $50,000 in combined choice category and dining purchases each calendar year, and 1% after that. [1]
The card has no annual fee. [1] This piece covers how the card earns, what the Preferred Rewards boost adds, and what to check before you apply.
Categories and how to switch
You can choose gas stations & EV charging stations, office supply stores, travel, TV/telecom & wireless, computer services, or business consulting services as your 3% category. [1] Gas stations & EV charging stations is the default. [1]
You can change the category once each calendar month, or leave it alone and it stays the same. [1] To change it, you must use the Mobile Banking app or Business Advantage 360. [1]
Dining and everyday earnings
Dining purchases earn 2% cash back. [1] They count toward the same first $50,000 combined choice category and dining limit each calendar year, then earn 1%. [1]
Everything else earns unlimited 1% cash back. [1] Client dinners, catered lunches and team celebrations can add up quickly in business spending. [2]
The Preferred Rewards boost
Preferred Rewards for Business members can earn a boost that lifts the card's rate as high as 5.25%. [1] You need a business checking account with Bank of America and must qualify for the highest Preferred Rewards for Business tier. [1]
At that tier, the card could earn up to 5.25% in your selected category and up to 3.5% on dining purchases, on the first $50,000 in combined purchases each calendar year. [1] It could also earn up to an unlimited 1.75% on all other purchases. [1]
The 75% cash back boost requires the Platinum Honors tier. [1] The Gold tier earns 25% more cash back and the Platinum tier earns 50% more. [1]
Welcome offer, APR and rewards
New accounts can get a $500 online cash rewards bonus after at least $5,000 in purchases in the first 90 days of account opening. [1] The card also has a 0% introductory APR on purchases for the first 7 billing cycles. [1]
After the introductory period ends, a variable APR currently between 16.99% and 26.99% applies. [1]
You can redeem cash rewards as a deposit into an eligible Bank of America checking or savings account, as a card statement credit, or as a mailed check. [1] Rewards do not expire as long as the account remains open. [1]
What this means for you
The recommended credit score for the card's offer is in the Excellent range (740-850). [1] The welcome bonus asks for $5,000 in purchases within 90 days. [1]
Business credit cards can provide significant value on dining expenses through points, miles or cash back. [2] Spending caps, annual fees and how merchants code purchases can affect the rewards you actually earn. [2] Here the cap is $50,000 in combined choice category and dining purchases, and the annual fee is none. [1]
Cards with the highest dining returns often require restaurant purchases to be among your top spending categories each cycle. [2] Secondary benefits such as travel protections or insurance may add value beyond dining rewards. [2]
The best card choice depends on your business's dining spend, preferred rewards type and willingness to pay an annual fee. [2]
Sources
Written from the sources above and checked twice before publishing. How we work · Report an error
