Additional $200 Signup Bonus on Bank of America Business Checking? [Data Points Needed]
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
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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.
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.
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.
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.
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).