Bank of America Business Cash Rewards $500 Signup Bonus

Update 2/21/20: There is now a public link. Hat tip to yt-nthr-rddtr

Update 12/1/19: Offer showing for more people. Hat tip to churnandlurk

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.

500
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
Taylor Loy
Taylor Loy

This is $750 now.

Danny
Danny

Denied. Called in. They said I was pending, to send in tax returns. Did that. Called in a week later. Denied. Reason: “sufficient credit outstanding in both business and personal lines.” I have 0 credit from Bank of America, fwiw. Never run into this before with any issuer. Crazy.

chris
chris

Does this card count towards the chase 5/24 if I apply use my own SSN as a sole prop?

Betelgeuse ㊙️

It doesn’t show up on your personal credit reports so it won’t affect 5/24 for Chase.

Bertrand
Bertrand

Applied for this about a week ago and was denied. I had applied in December and was denied then too, but as I subsequently learned, that was because my Biz Travel Rewards was at the time a secured card and BofA does not approve new cards for customers with a secured card (see my posts below). My Travel Rewards was graduated to an unsecured account in January so I thought I was good to go with this one, but apparently not. Oddly, I have NOT received a credit pull. I know BofA does not do hard pulls for applications made within 30 days of a previous pull, but in this case I was going on two months. Not sure if there has been a change in policy or what, but I’m pretty sure I would have been notified of a pull by now if one had occurred.

Matt
Matt

Whoo-hoo! Approved with 10k limit, 20k business income. Have an existing personal card i seldom use (15kcl) but no banking relationship. 3 new cards in last 6 months (2 amex+verizon card).

Danny
Danny

Were you asked to provide additional documentation? I was “denied” with the online app, but then called in and was told denied can also mean “pending” in their system. They then sent me a secure email link (took three days!) to upload tax returns.

Guillaume
Guillaume

The 9 months is really 7 btw- just got charged interests after 7 months.

A0
A0

Do any of the 1040 tax processors code as business services?

AKJOHNNY
AKJOHNNY

nope… I spend over $5k paying property taxes hoping for 4.5% return and only got 1% on govt payments. boo.

Bertrand
Bertrand

Applied on 12/21 and was denied (for the second time – i was also denied late 2019). I received the letter in the mail today and one of the reasons given for denial was “risk mitigation action taken on one or more of my accounts or prior credit requests” with BofA. I assume this refers to a secured Travel Rewards that I currently have with them. I opened this last January along with a $1k CD. Has anyone else with a secured card/CD with BofA been rejected for another card on this basis? In any case, I think I’ll go ahead and apply for another card as BofA does not do a second credit pull if you apply within 30 days of a previous one. Since I already have the Travel Rewards, I’ll try for the Platinum Plus which has a sign-up bonus of $300 for 3k spend. I might be denied for the same reason, but really nothing to lose and it always sucks to get nothing out of a credit pull.

Bertrand
Bertrand

Update: I applied for the Platinum Plus card and was also denied (no hard pull). I’ll await the letter for confirmation, but I think it’s because of my current secured card. If anyone has been approved for a BofA card while also holding a secured card, that would be good information to have.

Ben
Ben

I currently hold a secured BoA Business Cash Rewards secured card and later applied for a BoA Platinum Plus Business card and was denied. After speaking with recon, the reason for denial was not being able to open an additional card while currently holding a secured card – I wasn’t given the option to open the second card as a secured card.

Betelgeuse ㊙️

Will it stop being a secured card once you closed the cd after 1 year?

Ben
Ben

I believe you have to call and request that the card be graduated to an unsecured version, have them remove the hold from the CD, and then close the CD. But once the card is graduated, you should be good to apply for another card.

Betelgeuse ㊙️

Ben Thanks! @ Bertrand You can try what Ben said since it’s been (almost) 1 year for you.

Bertrand
Bertrand

Ben Betelgeuse Thanks for the info. My CD was set to mature today so I called to request that my card be graduated from secured to unsecured. After review, they said it was not eligible to be graduated. I asked when I could request another review and they said to wait 6 months or so. I think I’ll go ahead and close the CD and the card, and try my luck at applying for another BofA biz card soon.

Betelgeuse ㊙️

Bertrand So they won’t let you close the cd if the card can’t be graduated to unsecured card? MY CD matures in March and plan close the cd then.

Bertrand
Bertrand

I can close the CD, but if I do it will close the card as well – the two are linked so long as the card is still secured. I might give them another call to see if they’ll reconsider my eligibility for an unsecured card – I thought it wouldn’t be a problem as I currently have 20k in a business checking account and always paid the card off on time, although I haven’t used it really at all since I got the bonus.

Betelgeuse ㊙️

Bertrand Got it. Thank you!

Brad C
Brad C

12/9 Statement date
12/14 Requirements met
12/18 $500 PROMO STATEMENT CREDIT

Baked
Baked

DP: got 1st card earlier this year, got the bonus. Waited about 6 months (not precise, don’t think it matters to BofA), got another for the same biz, just got the 500 bonus on the 2nd card Chuck

ps Gadget - Bank Bonus Geek excellent card, akin to Citi’s DC in terms of taking any bank’s initial deposit and posting as regular purchase

Bertrand
Bertrand

Thanks for the DP! Which banks have you used the card to fund accounts with?

Baked
Baked

Bertrand multiple banks and credit credit unions. Several transactions of over $10,000 each

b
b

Did you close the previous card before applying for the new card?

Baked
Baked

b no, both still open

Naddi
Naddi

deleted

Betelgeuse ㊙️

Baked The card is only 1% for bank funding right? Unless you are preferred rewards for business you can bump up to 1.75%.