Bank of America Business Advantage Customized Cash Rewards Mastercard Credit Card Review Bankrate Main Menu Mortgages Financing a home purchase Refinancing your existing loan Finding the right lender Additional Resources Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Banking Compare Accounts Use calculators Get advice Bank reviews Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Credit cards Compare by category Compare by credit needed Compare by issuer Get advice Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Loans Personal Loans Student Loans Auto Loans Loan calculators Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Investing Best of Brokerages and robo-advisors Learn the basics Additional resources Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Home equity Get the best rates Lender reviews Use calculators Knowledge base Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Real estate Selling a home Buying a home Finding the right agent Additional resources Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Insurance Car insurance Homeowners insurance Other insurance Company reviews Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Retirement Retirement plans & accounts Learn the basics Retirement calculators Additional resources Looking for the perfect credit card? Narrow your search with CardMatch Advertiser Disclosure

Bank of America Business Advantage Customized Cash Rewards Mastercard credit card review A basic business card that lets you choose where you earn most

This card can best serve small businesses with nimble budgets. Written by Credit Cards Editor As a Bankrate credit cards editor, Ashley Parks is fascinated by the ways people can make credit cards work for them when armed with the right knowledge. Oct. 21, 2022 Edited by Credit Cards Editor Courtney Mihocik is an editor at Bankrate Credit Cards and CreditCards.com specializing in credit card news and personal finance advice. Previously, she led insurance content at Reviewed by Senior Editor, Credit Card Product News Emily Sherman is a senior editor for CreditCards.com and Bankrate Credit Cards, specializing in product news and recommendations. She has worked as a writer and editor in the Oct. 21, 2022

Share

Bankrate Logo

Why you can trust Bankrate

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Bankrate Logo

Why you can trust Bankrate

At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence. Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to: Meet you wherever you are in your credit card journey to guide your information search and help you understand your options. Consistently provide up-to-date, reliable market information so you\'re well-equipped to make confident decisions. Reduce industry jargon so you get the clearest form of information possible, so you can make the right decision for you. At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next. Bankrate Logo

Editorial Integrity

Bankrate follows a strict , so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.

Key Principles

We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.

Editorial Independence

Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate Logo

How We Make Money

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankrate Logo

Insurance Disclosure

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

ON THIS PAGE

PREV NEXT

Snapshot

3.5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon Bottom line The best thing about the Bank of America Business Advantage Customized Cash Rewards Mastercard is that it gives cardholders the power to choose where they earn the most. If you’ve streamlined your business spending enough and you know where the bulk of your budget goes, this card allows you to make sure you get the most bang for your buck. Outside of this perk, everything else about this business card is pretty standard. on Bank of America's secure site

BEST FOR CHOICE OF CASH BACK CATEGORY

Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card

Rewards rate 3% cash back in the category of your choice (on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter). 2% cash back on dining purchases (on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter). 1% unlimited cash back on all other purchases. Annual fee Intro offer Get a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening - with no annual fee and cash rewards don't expire. Regular APR Recommended Credit Score A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card overview

The Bank of America Business Advantage Customized Cash Rewards Mastercard credit card is an incredibly flexible with plenty of benefits. You'll earn your highest cash back rate on a spending category of your choice, giving cardholders a new level of control over their earning power. It's an excellent card for small businesses and freelancers going solo to tailor their earnings to their spending habits. This card notably has , which is a plus, especially for a business card. However, it has an annual spending limit of $50,000 in combined choice category/dining purchases each calendar year, 1 percent thereafter. This cap may limit the benefits available for bigger businesses that spend a lot. There isn't much more to write home about on this card outside of the standard business benefits, but it's an excellent pick to earn cash back on your business spending.

What are the advantages and disadvantages

Pros

You get more power over your earnings with the choice of your highest-earning rewards category. The welcome bonus is easy to attain, especially with a business budget. No annual fee, so you won’t need to offset this cost with rewards.

Cons

You’ll be charged a 3 percent foreign transaction fee, making this card a poor choice for international travel. The $50,000 spending cap every year could diminish your earning potential. The barrier of entry is high, we recommend an excellent credit score (740+ on the FICO scale) for feasible approval.

A deeper look into the current card offer

Quick highlights

Rewards rate: 3 percent cash back in the . 2 percent cash back on dining purchases (on the first $50,000 in combined choice category/dining purchases each calendar year, 1 percent thereafter) Welcome offer: $300 statement credit after spending $3,000 in the first 90 days of your account opening Annual fee: None Purchase intro APR: 0 percent APR for the first nine billing cycles Balance transfer intro APR: N/A Regular APR: 15.24 percent to 25.24 percent Variable APR

Current welcome bonus

The Business Advantage Customized Cash Rewards Mastercard has an easily accessible welcome bonus. If you spend $3,000 within the first 90 days of account opening, you earn a $300 statement credit. The required spend is reasonable and could be easy to hit when racking up your business expenses. The bonus is relegated to statement credit only, which limits the cash rewards' flexibility.

Rewards rate

The best feature of this is the ability to personalize how you earn.

Earning cash back

Cardholders can earn 3 percent cash back in their selected category, which can be any of the following: Travel Office supply stores Gas stations Computer services Telecom and wireless services Business consulting services You can change 3 percent category once each calendar month if you'd like, giving you even more flexibility. Also, the Business Advantage Customized Cash Rewards Mastercard includes a 2 percent cash back category for dining purchases. For all your other purchases, you earn 1 percent cash back. Remember that the Business Advantage Customized Cash Rewards Mastercard limit on combined 3 percent reward category and 2 percent dining category purchases is $50,000 in combined choice category/dining purchases each calendar year. If you reach this limit, you will earn 1 percent cash back on everything for the rest of the year.

Redeeming cash back

You can redeem your cash back rewards in the following ways: A check Direct deposit into any eligible Bank of America checking or savings account A statement credit No matter which redemption method you pick, you will receive the same cash back value.

Other cardholder perks

Despite being a no-annual-fee business card, the Business Advantage Customized Cash Rewards Mastercard still has some quality benefits.

Customizable rewards

Customizable rewards are not totally uncommon, but they're an appealing benefit since you can match your cash back rewards to your spending habits. Moreover, you can change the category once a month.

Excellent welcome offer

A $300 statement reward for spending $3,000 within 90 days of card opening is fairly achievable, especially when making purchases for a business.

Introductory interest for nine billing cycles

If you are looking to make a major purchase, this could be helpful. Using it lets you avoid interest charges for the first nine billing cycles thanks to the 0 percent on purchases. After this promotional period, the ongoing APR becomes 15.24 percent to 25.24 percent variable.

Rates and fees

The Business Advantage Customized Cash Rewards Mastercard does not have an annual fee. Additionally, the credit score requirement is excellent, which is a FICO score of 740 or higher. If you're interested in paying off debt with this card, the balance transfer fee is either 4 percent of the transaction or $10, whichever is greater. The Business Advantage Customized Cash Rewards Mastercard also has a 3 percent foreign transaction fee.

How the Bank of America Business Advantage Customized Cash Rewards card compares to other business credit cards

Though the Business Advantages Customized Cash Rewards Mastercard is a solid business card option, it's not for everyone. Two other credit cards you could also consider are the Capital One Spark Cash Plus and the American Express Blue Business Cash&trade Card.

Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card

star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon Bankrate Score Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. on Bank of America's secure site Annual fee Intro offer Get a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening - with no annual fee and cash rewards don't expire. Rewards rate 3% cash back in the category of your choice (on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter). 2% cash back on dining purchases (on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter). 1% unlimited cash back on all other purchases. Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Capital One Spark Cash Plus

on Capital One's secure site Annual fee Intro offer Earn up to a $1,000 cash bonus; $500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account opening Rewards rate Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel Earn unlimited 2% cash back on every purchase, everywhere—with no limits or category restrictions Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

American Express Blue Business Cash&trade Card

on American Express's secure site Annual fee Intro offer Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months. Rewards rate Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. 1% cash back on all eligible purchases after spending $50,000 per calendar year. Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Bank of America Business Advantage Customized Cash Rewards Mastercard vs Capital One Spark Cash Plus

The may be the ideal alternative to the Bank of America Business Advantage Customized Cash Rewards Mastercard if your business spending spans different categories. You'll earn a 2 percent flat-rate on all purchases you make with the Capital One Spark Cash Plus, removing any extra strategizing you'd have to do with the Bank of America Business Advantage Customized Cash Rewards Mastercard. The Capital One Spark Cash Plus also makes up for what the Business Advantage Customized Cash Rewards Mastercard misses in terms of travel rewards and perks. For example, you'll earn 5 percent cash back on hotels and rental cars booked through Capital One Travel and you won't be charged foreign transaction fees with the Capital One Spark Cash Plus. You will have to decide how much you're willing to stomach on affordability. The Capital One Spark Cash Plus is a charge card, so it's required that you pay your balance in full each month and there is no ongoing APR because of this fact. You'd also pay a $150 annual fee, which could be steep for some, especially if you're a smaller business. However, you'd pay this price for a bit more flexibility overall. If you prefer the opportunity to tailor your spending to earn the most rewards or you're a smaller business and can avoid the annual spending cap, you may find more to love with the Bank of America Business Advantage Customized Cash Rewards Mastercard. If you're willing to pay more to get more, especially in terms of flexibility and no-hassle earning structures, you might give the Capital One Spark Cash Plus a look.

Bank of America Business Advantage Customized Cash Rewards Mastercard vs. American Express Blue Business Cash&trade Card

The mixes the low-hassle, flat-rate rewards of the Capital One Spark Cash Plus and the spending cap on the Bank of America Business Advantage Customized Cash Rewards Mastercard to find a steady middle ground. If you don't want to strategize your earnings, you get one of the best flat earning rates on the market with the Amex Blue Business Cash. However, you'll only earn the flat 2 percent rewards on all purchases on the first $50,000 you spend per year. Anything over that will earn you 1 percent cash back. Where the Amex Blue Business Cash pulls ahead is in its intro APR offer on purchases. It beats the promotional purchase APR on the Bank of America Business Advantage Customized Cash Rewards card by offering a 12-month zero percent intro offer. After the intro offer ends, the Amex Blue Business Cash has an ongoing APR of 16.24 percent to 24.24 percent variable. Once again, your final choice may come down to how much control you want over your earning potential and if you think your business spending will stay under the designated spending caps. The Bank of America Business Advantage Customized Cash Rewards Mastercard may be the best pick for the small business owner who knows they spend most heavily in one of the card's choice categories and wants to maximize those earnings. The Amex Blue Business Cash might be the choice for the business owner that wants to earn consistent rewards across all purchases, and can benefit from some time to pay down larger purchases thanks to the intro APR offer.

Best cards to pair with the Bank of America Business Advantage Customized Cash Rewards Mastercard

The cash back you earn from this credit card is solid, but there are better out there. Since the Bank of America Business Advantage Customized Cash Rewards Mastercard has a spending limit, it's a good idea to pair it with cards that have a flat reward rate for every purchase. If you're loyal to Bank of America, the earns 1.5 points on all purchases. Unlike with the Business Advantage Customized Cash Rewards Mastercard, you won't be charged a foreign transaction fee with the Bank of America Travel Rewards and you can redeem your points for gift cards, cash or statement credits to cover travel purchases.

Bankrate s Take - Is the Bank of America Business Advantage Customized Cash Rewards Mastercard worth it

This card might not be for everyone, but it's a solid option for a cash back business credit card. The reward rates are good enough, though the spending cap can put a damper on your earning potential if you're not careful. Overall, if you're not worried about hitting the spending cap and you know you have very specific needs in your business budget and want to capitalize on those, the Bank of America Business Advantage Customized Cash Rewards Mastercard is worth a look. For rates and fees of the American Express Blue Business Cash&trade Card , please click . *All information about the Capital One Spark Cash for Business has been collected independently by Bankrate and has not been reviewed or approved by the issuer.

ON THIS PAGE

Written by Ashley Parks Credit Cards Editor As a Bankrate credit cards editor, Ashley Parks is fascinated by the ways people can make credit cards work for them when armed with the right knowledge. Edited by Credit Cards Editor Reviewed by Senior Editor, Credit Card Product News

Advertiser Disclosure

Bankrate.com is an independent, advertising-supported comparison service. The offers that appear on this site are from companies from which Bankrate.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. Bankrate.com does not include the entire universe of available financial or credit offers.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. * See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer. Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.