Posted by William Charles on August 17, 2018
Credit Card Offers

Published on August 17th, 2018 | by William Charles

133

[Expired] BofA Business Advantage Cash Rewards Mastercard $350 Offer

The Offer

Direct link to offer

  • Bank of America is offering a bonus of $350 after $3,000 in spend within 90 days on the Business Advantage Cash Rewards Mastercard

 

Card Details

  • No annual fee
  • Card earns at the following rates:
    • 3% on gas stations and office supply stores
    • 2% cash back at restaurants
    • 1% cash back on all other purchases
  • Relationship Advantage Relationship Rewards applies to this card
    • 1% everywhere; with Honors status, card will earn 1.75% everywhere
    • 2% at restaurants; with Honors status, card will earn 2.75%
    • 3% on gas stations and office supply stores; with Honors status, card will earn 3.75%

Our Verdict

Other cards earn at higher rates on gas stations, office supply stores, restaurants and every day purchases even if you have Honors status so the card isn’t worth using long term. Bank of America business cards do not report to your personal report, this is useful for anybody trying to manage the number of cards they have for Chase 5/24 rule purposes. The standard bonus on this card is $200, but that only requires $500 in spend. This is an extra $150 but requires an additional $2,500 in spend. You’re basically getting an extra 6% return on that extra $150 for $2,500 spend (plus what the card normally earns) so I do think this is much better than the standard offer if you can meet the minimum spend requirement.  Keep in mind getting approved for Bank of America cards is much more difficult than it once was. This isn’t the most exciting bonus out there, but it might be useful for those that value cash sign up bonuses and are trying to stay under 5/24.

Bank of America also has increased bonuses on two personal cards:

As always before applying for any Bank of America credit card or asking questions, I’d recommend reading this post as your questions are most likely answered there.

Hat tip to reader Deborah (and the other reader who mentioned being targeted for this. Sorry I forgot your name :()

 



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TasteofRectum
TasteofRectum

the 75% more is a multiplier. so 3 * 1.75 is actually 5.25%.

F797
F797

No. It’s only 3.75%. Only applies to base earning.

Lrdx
Lrdx

Different card.

thomas
thomas

Does BoA historically match offers? I just signed up for the 200 version but can easily hit this. I dont see a place to SM so does that mean I have to call in

Mike B.
Mike B.

+1 Same question for me. I also recently applied for the $200 offer but have no prob pushing more spend through the card. Would love to know! Of course, I’m not afraid to call them and find out, just thought I’d see if anyone else knows off the top of their head

Joe
Joe

Interested if they matched. Following.

thomas
thomas

I dont know how to request a match without calling in. Havent had time, will try later by calling in. Do you know if BoA has SM? I see their message center is only if they message you for you to respond

Lrdx
Lrdx

Nope, BofA doesn’t believe in SM

PassiveChurn
PassiveChurn

I applied for the $200 version alongside their business checking bonus about a week ago. I called them earlier today, asking if I could match the offer. Rep contacted another department, returned with a denial, stating along the lines of “you’d have to have applied for the offer itself, and it couldn’t be changed.”

Could always be a case of HUCA, but I figured I’d share my DP.

Ben
Ben

Does Platinum Honors turn the $350 bonus into $612.50? (350 * 1.75)

ANUP
ANUP

No it doesn’t

Lrdx
Lrdx

That’s only on the personal cash rewards card.

TomT
TomT

And it never applies to the sign up bonus

Toad
Toad

It did for me…wrt the personal one. For the biz you need that amount again in a biz checking with them. A bit more difficult to achieve unless you are willing to open up a business ME investment account as well.

No idea if the multiplier would apply for the biz one, but I did the personal one like 3 months ago, so unless there was a recent change or the biz is set up differently (don’t see why it would be) I would expect the multiplier to apply.

Lrdx
Lrdx

It does on the personal Cash Rewards card. The signup bonus shows up as rewards balance, and you get the 10%-75% extra when you redeem the bonus.

SamSimon
SamSimon

Hey Doc! Can you clear these for me:
1. Don’t companies look at your business credit scores when you apply for business card if you have a history? If not, Why not?
2. If for example, someone got recently 4 business credit cards, and overall bad business credit score, but companies still don’t look at business score and how many cards you got, they will look only at your personal score? And they will not bother to look at your business score?
It just doesn’t make sense.

Brian C
Brian C

The way i think it works is companies like Amex for example (not sure about BoA) have their own INTERNAL business credit reports they create for you.

Personal credit report is seen by any bank or lender asking.

so it seems that as long as you have no bad business credit history with the bank in question, you should be fine.

someone can correct me if i am wrong…

SamSimon
SamSimon

then why “three major business credit bureaus, Dun & Bradstreet, Equifax and Experian” exist? I’m trying to understand how it works, and why they use Personal and never ever use business score? Or for some special occasions they use Business score? Then What occasions?

frogger
frogger

I applied for this a couple of months ago and they asked for 2 years of business tax returns and 2 years of personal tax returns. And other business documents. Instantly approved for business cards from Chase, Barclay, Amex, and Citi. Also have been a BOA customer for 20+ years with big direct deposit every two weeks and money in their saving account. and was instantly approved for their Premium Rewards personal card with a 25k limit.

So I don’t think applying for this is worth the effort.

Jason
Jason

Hi there, can you let me know your experience on applying for Chase business CC? Was that done online?

COBOLCODERUSEALLCAPS

I applied as a sole proprietor and it was fine for me.

Yoni
Yoni

Similar experiences with 800+ FICO’s, 20+ year personal accounts, ML investment, prior mortgage, six figure incomes, profitable three year business with docs, Biz UW = 15 min interrogation about business, plus Sch C and 1040’s, Even with PG wanted me to open a $1,500 CD for a secured BofA biz card. WF, Citi, Chase, Amex – instant approvals for business cards $15-$30K CL.

Needless to say after that experience, we no longer have $ in ML or personal accounts. We are keeping Alaska cards as $21 ($96 with AF) for the companion passes is worth it for booking Alaska flights PDX to ATL, JFK, HNL, for trips to see family.

Brian C
Brian C

I believe this is the highest, non-targeted, business credit card sign up bonus i have seen for BoA. I have been planning to apply for one, can anyone let me know if you know of a higher bonus currently, or historically, for any BoA cc?

barrytuneup
barrytuneup

clicked your link to apply. (using trusty old 8 year old laptop). Automatically filled in info from my many personal and 1 biz ccards. Was instantly approved as sole proprietor..which I really am part time. Thanks Doc. BTW I already have the travel reward biz card.

Justin
Justin

Any recent DPs of BoA pulling from a different bureau if EX is frozen?

Yoni
Yoni

BofA pulled TU for Biz card app in OR.

But they normally pull EXP here for Personal card apps.

Closertothesun
Closertothesun

This is my question too, in california. Thinking of freezing Ex.

Jx
Jx

Pulled TU for biz card in CA. Got denied. Any suggestions for recon?

Closertothesun
Closertothesun

I missed this comment initially, but thanks for the DP. If you’ve reconned, how was your experience?

Going to call recon this Friday as my app this weekend went pending (I work during recon hours sun-thurs). If you haven’t, I’ll post my experience.

But I hear a lot that having checking accounts with them helps, and that they may ask you to open a CD if you don’t… Hoping a personal w 1.5k and a biz w 5k (recently there was a 300 biz bonus with one CC opened).

Jeremy
Jeremy

What’s the phone # for the underwriters or application review?

M
M

Does anyone know if BoA Business Cards division still pulls Equifax in those states where it was pulling Equifax before the breach?

Tony
Tony

I’m in Socal and look like business card pull EX, Personal pull TU include credit line increase request.

anthonyjh21
anthonyjh21

Does this also get the 10% bonus for depositing into a bank of america checking account?

bax
bax

No.

anthonyjh21
anthonyjh21

Wife applied and was instantly approved. No prior relationship and applied as an S-Corp. FICO of 785, 15+/24.

irshad
irshad

I applied for this card and was approved. TU credit was pulled. Good news so far. In the DOC article.. it stated that BOA merges multiple inquiries even personal/business (You need to apply on the same day and it doesn’t matter if it’s a mixture of personal & business cards or not). So I went ahead and applied for premium rewards card.. Experian pulled and was denied. 🙁
Denied even after the reconsideration.

DOC. please update your article “things to know about BOA”

Cynthia
Cynthia

Can you let us know a little bit more about your business as far as the application is concerned?

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Wait, so I’m confused. It counted as two different inquiries?

Irshad
Irshad

Yes. Personal card was inquired on experian and business card was inquired on transunion

Jx
Jx

Any DP for the BOA biz card recon?

Ferris
Ferris

I was denied in recon for the $200 offer I applied for 2 weeks ago. 2 reasons were not enough balances with BOA ($0) and new credit lines. I had 1 new credit line in 10 months on my personal report (Cap1 Spark) with a 15K limit using 4K of the line. Last month, I applied with AMEX and got a 19K limit instantly approved.

steve
steve

Mine went pending; my wife got instant approval. Bofa’s biz cards seem much easier to get than their personal cards.

JT27MP
JT27MP

Can the purchase of visa gift cards or master card gift cards:
1. Count for the spending limit?
2. Get you the 3% (or 3.75%)?

Mickeymouse
Mickeymouse

Yes and Yes AFAIK

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