Bank of America Business Advantage Unlimited Cash Rewards – Full Review [2023]

Great Card If

• You want an easy-to-use cash-back card with a fixed rate on all purchases
• You’re a Bank of America Business Preferred Rewards member

Don’t Get If

• You can a card that earns travel rewards points
• You want a card that offers bonus categories on the areas where your business spends the most

Bank of America Business Advantage Unlimited Cash Card — Is It Worth It?

Any business owner who’s looking for a straightforward cash-back rewards card that earns a flat cash-back rate on all purchases without an annual fee will certainly find the Bank of America Business Advantage Unlimited Cash card worthwhile.

The card is even more worth it for those who are Bank of American Business Preferred Rewards members as they can boost their rewards rate up to 2.625% back on all purchases. You’d be hard-pressed to find a card with a higher cash-back rate on all purchases.

Bank of America Business Advantage Unlimited Cash Card — Top Benefits

Bank of America Business Preferred Rewards Cash-back Boost

In our view, the best benefit of the Bank of America Business Advantage Unlimited Cash card is the ability to increase the amount of cash-back you receive for each purchase by participating in the Bank of America Business Preferred Rewards program.

The Bank of America Business Preferred Rewards program is very similar to the personal version, in that it gives members added benefits for holding a certain level of deposits in qualifying Bank of America accounts.

One of the best benefits of the program is the ability to boost your cash-back rewards by 25%, 50%, or 75%, depending on your status tier.

There aren’t many cash-back rewards cards on the market that offer more than 2% cash-back on all purchases, but Platinum and Platinum Honors members can earn 2.25% and 2.625% back, respectively.

Other Card Benefits

The card also offers travel accident insurance (up to $100,000 in coverage) and secondary rental car insurance.

Best Ways To Earn and Redeem Your Cash-back

If you’re trying to earn as much cash-back as possible, you’ll want to use your card for as many purchases as you can. Since the card earns the same 1.5% back on all purchases, you won’t need to stress over whether you’re using the right card for the right purchase.

That said, if you really want to take your cash-back rewards to the next level, then you should attain status in the Bank of America Business Preferred Rewards program. Doing so will allow you to boost the cash-back rewards you receive by 25%, 50%, or even 75%, depending on the status tier you hold.

In terms of redeeming your cash-back rewards, you can choose from a deposit into your Bank of America checking or savings account, a card statement credit, or a check mailed directly to you.

Alternative Card to the Bank of America Business Advantage Unlimited Cash Card

American Express Blue Business Cash™ Card

If you’re in the market for a flat-rate cash-back card with no annual fee and don’t have any interest in the Bank of American Business Preferred Rewards program, you should consider the Amex Blue Business Cash card.

With it, you’ll earn 2% cash-back rewards on all purchases up to a total of $50,000, and then 1% cash-back on all purchases thereafter. Depending on how much your business spends each year, you may earn more cash-back rewards using the Amex Blue Business Cash card, as you’d need to spend more than $100,000 before the Bank of America Business Advantage Unlimited Cash card surpasses it in total cash-back.

The information regarding the Bank of America® Business Advantage Unlimited Cash Rewards was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

For rates and fees of The American Express Blue Business Cash™ Card, click here.