Bank of America Business Advantage Customized Cash Rewards

Rewards by category

Our take

The Business Advantage Customized Cash Rewards is built for a small business whose spending clumps in one lane. You pick a 3% category from a short list — gas, other travel, phone and internet, or office supplies — and dining earns 2% alongside it. In our rankings it sits second for office supplies and third for phone and internet, all with no annual fee.

The fine print is where discipline matters. The 3% choice and the 2% dining rate share a combined cap, and both fall to a lower rate once you cross it, so heavy spenders lose the edge quickly. Everything outside those categories earns a flat 1%. A $500 cash rewards bonus after $5,000 of purchases in the first 90 days softens the start, but a 3% foreign transaction fee still makes this a card to leave home when you travel abroad, even if other travel is your chosen category.

In a small business wallet this works best as the specialist, not the workhorse. Point it at your single biggest eligible category, let dining ride at 2%, and route everything else through a flat-rate card that beats the 1% base. Rewards are plain cash back valued at one cent, so comparisons stay simple: the higher printed rate wins.

The math

Run $200 a month of gas through this card and you're earning about $72 a year at our conservative valuations. There's no annual fee to earn back — everything above the 1% base rate is pure upside.

Where it lands in our rankings: #2 for office supplies · #4 for phone & internet

Common questions

Does Bank of America Business Advantage Customized Cash Rewards have an annual fee?

No — Bank of America Business Advantage Customized Cash Rewards has no annual fee.

What does Bank of America Business Advantage Customized Cash Rewards earn on gas?

3% on gas (choose this category; up to $50,000/yr (combined); lower rate after the cap).

What rewards does Bank of America Business Advantage Customized Cash Rewards earn on everything else?

1% on all other purchases, in Cash Back.

What's the catch with the 3% category on the Business Advantage Customized Cash Rewards?

You have to actively choose the category — gas, other travel, phone and internet, or office supplies — and the 3% earnings share a combined cap with the 2% dining rate. Once you pass that cap, both drop to a lower rate. Match the choice to your largest predictable expense and watch your running total.

Can I earn more than 3% with this card?

Yes. With Preferred Rewards for Business at the Platinum Honors tier, the chosen 3% category can climb to as much as 5.25%. The boost only applies if you qualify for that tier, though, so confirm your status before you build your spending plan around the higher rate.