Posted by Chuck on September 9, 2019
Credit Cards

Published on September 9th, 2019 | by Chuck

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[YMMV] Bank of America Business Cash Rewards $500 Signup Bonus

Update (2) 9/9/19: Offer is showing for a lot of people in the online login.

Update 9/9/19: Reddit user bplturner successfully used a single link to apply for a card for themselves and their spouse, and both got the bonus. So this offer should essentially be a public offer if you can get hold of a signup link (it’s a special link which comes from email). YMMV, but it should work for anyone.

The Offer

No direct link, offer may be targeted

  • Signup for the Bank of America Business Cash Rewards Mastercard and get $500 statement credit when you make at least $5,000 in purchases within 90 days of account opening.

Card Details

  • No annual fee
  • 0% introductory APR on purchases for the first 9 billing cycles
  • Card earns 3% on up to $50,000 per year in one of the following 6 categories:
    • Gas stations (default)
    • Office supply stores
    • Travel
    • TV/telecom & wireless
    • Computer services
    • Business consulting services
  • Card earns 2% on dining; that combines with the 3% for the $50,000 limit
  • Card earns 1% everywhere else, unlimited
  • Preferred Rewards Business members get up to 75% bonus on these earning rates (the 3% can be as high as 5.25%)

Our Verdict

A bunch of people got this offer via email. It has a unique type of a link from the email which shows the offer page, though it doesn’t state anywhere clearly that you had to get the email. I’m unsure if each unique link will work multiple times which would make this a public offer or it will expire after one use.

It’s a pretty nice offer. Best we’ve seen in the past is this expired offer for $350. Current public offer is for $300 (direct BofA link). Bank of America does not report business cards to the personal credit bureaus. Check out these Things to Know about Bank of America Credit Cards before applying.

There’s also a targeted offer for the BofA Business Travel Rewards card for 35,000 points with just $1,000 spend. That offer is being promoted for some people in the BofA login, while the $500 Business Cash Rewards offer is being sent out via email.



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Greg
Greg

I got a targeted offer for $350 for 3k spend

Jorge Ramos
Jorge Ramos

Same offer for me.

Gerald
Gerald

Me too. Looking back at other offers I’ve had, I see there was one for $300 for $3000 spend last month and one for $200 for $500 spend back in March. So it’s going in the right direction.

Jade
Jade

I got targeted. Alas, I do not have that much purchase power…

Thomas
Thomas

venmo…………….

Jade
Jade

Mind elaborating on that? :-p

Gerald
Gerald

Venmo has a 3% fee, no?

Frank
Frank

Pay $150 for $500 + $50 of points. $400 profit vs $0 not doing it…

Jade
Jade

I have never used Venmo before and just did some self-education. It seems using venmo for ms is still a bit risky? https://thepointsguy.com/2017/04/venmo-credit-card-minimum-spend/

BW
BW

I would take the link if you wouldn’t mind sharing it.

Dr Frog
Dr Frog

I had a $300 after $3000 spend offer.

K-Man

I got the same. I also have the $200.00 for Cash Rewards $1000.00. Currently have Travel Rewards. Wondering if I should apply

QCP
QCP

Got the same offer (after I’d already been approved for my second one of these earlier this week)

Anthony
Anthony

Can you have more than 1 of the same card from BoA?

Josh
Josh

Yes

Karl
Karl

1/24?

Anthony
Anthony

31/24

Karl
Karl

You got 31 of the same card from BoA in 24 months?

Either that or my question wasn’t clear…

BW
BW

x/24 is generally understood to mean the number of cards showing on your credit report as opened in the last 24 months. If you intended it to mean something else then you need to specify.

Karl
Karl

1/24 is a well known policy pertaining to BoA. In this context “number of cards showing on your credit report” would be a non sequitur because this card does not report. So the meaning was clear to anyone who knows the answer (which I still don’t).

Here is some info on BoA churning limits:
https://www.doctorofcredit.com/bank-of-america-adds-24-month-churning-rule-per-card-alaska-cash-rewards-etc/

Ben T
Ben T

SO targeted for $300 after $3k

WR2
WR2

I’m platinum honors, didn’t receive any email, but when I login I see it under the offers section. I also see a Business Advantage Travel Rewards card offer, 35k for $1k spend, seems to be worth $350. I might go for that instead.

Doc Mac
Doc Mac

Exactly the same situation. Do you know if you get the Business Advantage Travel Rewards card and use points to pay off travel cost, can the travel cost in turn earn more points?

Deborah
Deborah

You’re right…the Travel rewards is the best value, I think…..DoC did a post on it in April.

It’s worth $350 if used for travel reimbursement, and BofA has a very broad definition of travel. If used for non-travel, worth .006 a point instead of the .01.

I also see a Platinum VISA business card with a $300 bonus after $3k in spend.

Lrdx
Lrdx

Are you *business* Plat Honors? It’s different from the personal Plat Honors status.

RD
RD

What offers section? Under “Special Offers and Deals”? That only has useless merchant offers 🙁

Tim
Tim

Does this count against 5/24?

Chong786
Chong786

Nope boa doesn’t report biz credit card to personal credit report

hwan
hwan

I got hit with a credit report….. they actually reported to Experian…

Chong786
Chong786

? 5/24 is not # of hard pulls.. it is # of new accounts reported to personal credit report in 24 months.

Also fyi banks still do hard pulls for biz credit account

LC
LC

no

Doc Mac
Doc Mac

I didn’t get any emails but have both this offer and another offer of Business Travel Rewards card. And the points from the Travel Rewards card can only be used toward travel cost.

So my question: if I use points to pay travel cost, can the travel cost earn more points?

Deborah
Deborah

I did receive this offer, but I am also seeing an offer for the BofA Platinum VISA Business Card, which offers a $300 statement credit after $3,000 in spend. No annual fee. This seems straightforward. I don’t see this card listed on the business card list here…is it new?

Also see the Business Advantage Travel Rewards Master card, offering 35,000 bonus points after $1,000 in spend in 60 days, which DofC wrote about in April.

I think the points are worth a penny each towards the very liberal definition of travel…if used as a credit for non-travel, worth only .006 each.

Not sure which one to go for between these two.

eee
eee

How strict is BoA regarding business credit cards?

BB
BB

I was asked for additional documentation about my ‘business.’ I didn’t send anything in.

eee
eee

Were you eventually accepted?

Alex
Alex

I got email offer of $500 over $5K/3month. Applied and was approved. Can I share the same email with my spouse? i.e. Is the offer targeted or not?

Bikini Patrol
Bikini Patrol

did you have to provide a code when you applied? did you do it over the phone or via online

mcmike522
mcmike522

I had the $500 offer in my BofA account. I reported $12k of annual business revenues and got approved for $17.5 k CL :). My household income from employment is kinda high though.
This will be my first BofA business card.
They hit TransUnion for me on this.

BW
BW

Would you mind sharing the link that you used? I’d like to see if it’s still active.

K-Man

What did you put as business?

Hari
Hari

Whats with all the increased Business card/Bank account offers in the last few days? Is this the time of year banks go all in on Business users?

Raj
Raj

I was targeted for $300 credit after $3K spend but after applying for it , the page says the application is under review. What is the point of targeted offer if I am not approved for the card instantly. Am I missing anything?

Munchy
Munchy

Chuck

I did not get an email, but did get this to show after checking my customized offers on a desktop.

tribesman55
tribesman55

Same here, applied and auto approved.

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