Alongside their personal Unlimited Cash Rewards card, Bank of America plans to launch a similar business card in October called the Business Advantage Unlimited Cash Rewards. The bank describes it in their press release with similar details as the personal version, with no annual fee and the same 1.5% cash back on all purchases.
Like the personal version, the business card will also have increased earnings rate of 25 – 75% for Business Preferred Rewards clients which can bring up the overall earnings rates to as high as 2.62% on all purchases. Hopefully it’ll come with a signup bonus as well, as does the personal card.
it doesn’t work online application.
AWESOME
another 1.5% card? ｏｍｇ ＹＡＷＮ
So long as it has a decent bonus and doesn’t report to the credit bureaus, then I’m all for it.
Truth
A 2.625% non-category card that doesn’t report to the bureaus that will most likely have a SUB? Not bad at all, especially if they have a $750 for 5k version like the Custom Cash Business card..
Anyone in the know about the easiest/best way to get Business Preferred Rewards status? I have the Consumer Preferred Rewards platinum by parking investments in Merril Edge. I’ve looked around and I have not found an easy way to do something similar with their Business Advantage Preferred Rewards. I recall something about Merrill Small Business Investment accounts, but could not find a way to setup an account online without going in branch.
Would be interested in this info as well, have been wanting to do something similar elsewhere but may go with BoA if it’s easy enough.
I am guessing that if someone has a business checking/savings with BoA and/or business trading with Merrill, it might help them qualify for the 75% bonus for them. I was hoping to get 2.625% but now that I remember that business is treated differently than personal by BoA, I might have to apply for a personal account with 2.625% CB…
It would be hard to qualify for 2.625% for many as personal accounts can’t be used. Personal preferred rewards and business preferred rewards are separate programs. I.e., if you already have a $100K account suppoorting 2.625% for personal accounts, you will need another $100K in a business account to support the business preferred program, but this time you won’t be able to use your personal IRAs.
Yeah lol I’ll take it, whatever the name is and whatever the cashback rate. Just remember that the Preferred Rewards status is separate for personal vs business.