NEW YORK—Bank of America has added a new cash-back credit card to its lineup of business credit cards.
The Business Advantage Unlimited Cash Rewards credit card offers a flat rewards rate on every purchase, along with some other features standard on many cash-back business credit cards. Select Bank of America customers can get a higher rewards rate, Investopedia reported.
The new Business Advantage Unlimited Cash Rewards card offers a flat 1.5% cash back on every purchase, a rewards rate that falls short of the 2% gold standard.
“However, if you're a Preferred Rewards for Business member, you could earn 25%, 50%, or 75% more cash back on every purchase you make, up to a maximum of 2.62% back, which is hard to beat,” Investopedia said.
In order to qualify for the Preferred Rewards program, individuals must have an active Bank of America business checking account and a three-month combined average daily balance of $20,000 or more across in their Bank of America business deposit accounts and Merrill Lynch business investment accounts.