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Bank of America credit card

Business Advantage Cash Rewards Credit Card with 3% Choice Category

  • APR up · 16.74%16.99% · Oct 2, 2026

No annual fee. $500 cash rewards after you spend $5,000 in 3 months. Purchase APR 16.99–26.99%, variable.

Checked Nov 1, 2026Updated

Welcome offer
Annual fee
Purchase APR · variable
Foreign transactions

Select an underlined figure to see where it comes from.

Bank of America’s terms

Welcome offer

$500 cash

After you spend $5,000 on purchases in your first 3 months.

Spending it takes
$1,667 a month
for 3 months
Tracking since
Sep 29, 2026
history will chart every change

Online-only offer; the spending must occur within 90 days of account opening.

  • Larger than about 80% of the 48 other cash bonuses we track.

In dollars

What it’s worth

Yearly value in dollars: rewards and credits minus the annual fee, for three ways of spending. First year includes any welcome bonus.

SpendingValue against the feeFirst yearAfter
Light spender$130$130
Typical spender$835$335
Heavy spender$1,230$730
The spending each assumes, and what isn’t counted
  • Light spender: groceries $300, dining $100, gas $100, everything else $500 a month
  • Typical spender: groceries $600, dining $300, gas $200, travel $150, everything else $1,250 a month
  • Heavy spender: groceries $900, dining $600, gas $300, travel $600, airfare $300, hotels $300, everything else $2,500 a month

Assumed: welcome bonus needs $5,000 in 3 months.

$130a year

The same in the first year and after.

The spending this assumes

A month: groceries $300, dining $100, gas $100, everything else $500. Assumed: welcome bonus needs $5,000 in 3 months.

$335a year

$835 the first year, with the welcome bonus.

The spending this assumes

A month: groceries $600, dining $300, gas $200, travel $150, everything else $1,250.

$730a year

$1,230 the first year, with the welcome bonus.

The spending this assumes

A month: groceries $900, dining $600, gas $300, travel $600, airfare $300, hotels $300, everything else $2,500.

Use your own spending

Estimates from the published terms above, as checked Nov 1, 2026; not advice. How we value cards

Against the market

How it compares

Worth more to a typical spender than about 75% of the 732 cards we track.

  • No annual fee, like about 85% of the 711 cards we track.
  • Lower top APR than about 70% of the 163 cards on our Sign-up bonuses list (see the list).

Other cash back cards with no annual fee

Against this card, for our typical spender’s value (rewards and credits minus fees, after the first year).

Shares rounded to 5 points. Fees and APRs as stated; value for our typical spender. Method

Preferred Rewards for Business

How you earn

3%
Choice category: the category of your choice, including gas stations and electric vehicle (EV) charging stations, office supply stores, travel, TV/telecom & wireless, computer services, or business consulting services.
2%
Dining purchases
1%
Everything else

Cash back, as a share of each purchase.

Benefits

  • Travel services include emergency ticket replacement, lost luggage assistance, and legal and medical referrals when you are away from home.
  • Up to 75% more rewards on every purchase may be available through Preferred Rewards for Business: 25% Gold, 50% Platinum, or 75% Platinum Honors.
  • Preferred Rewards for Business enrollment requires an active, eligible Bank of America business checking account and a three-month combined daily balance of at least $20,000 for Gold, $50,000 for Platinum, or $100,000 for Platinum Honors.
  • Automatic payments, transfers, and transaction downloads to QuickBooks.
  • Digital Wallet support.
All 14 benefits
  • Free access to Dun & Bradstreet business credit scores within Business Advantage 360 for eligible U.S.-based Bank of America small business clients with an open and active Small Business account.
  • Zero liability protection for unauthorized transactions.
  • Balance Connect® for overdraft protection, subject to approval and other terms.
  • Fraud monitoring.
  • Paperless statement option.
  • Rental car
  • Travel accident: $1 million
  • Purchase protection
  • Extended warranty

Changes

16.74%16.99% since Oct 2Oct 2Today
  • Oct 2, 2026 APR 16.74%16.99%

Only changes that held for at least three days on both sides count; one-day blips in a reading don’t.

Every figure with its receipt

Rates and fees

Annual fee
Purchase APRvariable
Intro APRFirst 7 billing cycles following the opening of your account
Balance transfer APR
Balance transfer fee
Cash advance APR
Cash advance fee
Penalty APR
Late payment
Foreign transactions
Grace period

Before you apply

  1. What the application asks: your name, address, date of birth, Social Security number (or ITIN), income and housing payment. By law the issuer must consider your ability to pay (Regulation Z, 1026.51).
  2. Your credit report: applying usually means a hard inquiry, which can lower your score slightly for a while. Some issuers let you check whether you’re pre-approved first without one. How credit reports work (CFPB)

Questions

What is the annual fee?
None · bankofamerica.com, since Oct 11, 2026
Does it charge a foreign transaction fee?
Yes: 3% of the U.S. dollar amount of each transaction made in a foreign currency.. · bankofamerica.com, since Oct 21, 2026
What is the purchase APR?
16.99–26.99% APR · bankofamerica.com, since Oct 2, 2026
Is there an intro APR?
0% for First 7 billing cycles following the opening of your account. · bankofamerica.com, since Sep 29, 2026
Is there a welcome bonus?
$500 cash back after $5,000 in purchases in 3 months. · bankofamerica.com, since Oct 2, 2026
See it on bankofamerica.com

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