There’s an interesting offer from Bank of America which I’ve never noticed before:
- New Bank of America business Advantage checking customers get a $200 bonus when signing for a new eligible business credit card and make at least $500 in new purchases within the first 60 days of the credit card account opening.
This benefit is advertised for new business Advantage checking customers who subsequently sign up for a new business credit card (not for the basic Fundamentals checking customers). It’s been around for some time, apparently.
We don’t know many details about the bonus. Far as I can tell, it might be possible to stack the $200 bonus on top of the regular credit card signup bonus. And potentially stack with a business checking account bonus as well.
So in theory you could signup for Bank of America business Advantage checking with a signing bonus (none currently available, but they come from time to time), then apply for any business credit card which has a signup bonus, and you’d net three bonuses: the checking bonus, card bonus, and extra $200 checking + card bonus.
In reality, it’s likely that checking bonuses don’t have this $200 offer tacked on to them. Still, assuming the $200 bonus stacks with the credit card signup bonus, this could be basically a consistent way to get an additional $200 (tax-free) out of a BofA business Advantage signup if you plan on doing a BofA business card signup regardless.
However, it might be that the $200 card signup bonus is meant in place of the regular credit card signup bonus. Terms here are very vague. Data points needed.
Hat tip to reader 59vw
This is now a $300 bonus for $3000 spend on a new linked business credit card. Not clear if this is in addition to the $300 business checking bonus (https://promo.bankofamerica.com/businesschecking/SB300.html).
My sister opened the advantage checking Las month. She was told that the max bonus she could get is $1,000 for opening the checking account PLUS apply and be approved for business travel reward card. The $250 bonus for the credit card is separated and will be posted after spending requirement is met. So the total bonus is $1,250 for her scenario.
Last month, I signed up for a Bofa individual checking with a $100 bonus offer with direct deposit. This monday, I got a letter from BofA telling me the bonus is $300 if I do a $4000 direct deposit ! I kept the letter as I know Bofa often doesn’t make good on their offers.
I’ve opened a couple of business cards with BoA in connection to a new account and got the $200 bonus for spending $500, but that was it – it wasn’t on top of any pre-existing bonus amount.
Another nice thing about the business cards is they usually have a 12 month 0% interest promo also, so you can run the balance up to the max, put the funds in a high yield checking account and earn another $200-300 in interest on their money.
I just set up auto pay for the monthly payments then pay the balance in full just before the last statement date.
Can you convert a business Fundamentals checking to Advantage? I can’t even see business accounts listed when I browse the various “open new accounts” section of BoA site even when logged into and selecting my business account.