Bank of America Business Advantage Unlimited Cash Rewards

Rewards by category

Our take

The Business Advantage Unlimited Cash Rewards is Bank of America's flat-rate business card: 1.5% cash back on all purchases, no annual cap, no annual fee, and rewards that do not expire as long as the account stays open. There are no categories to pick and nothing to activate, which is the whole point — it is the card you reach for when the purchase does not fit anyone's bonus category. The public welcome offer is a $500 cash rewards bonus after at least $5,000 in purchases within 90 days of account opening.

The number Bank of America leads with is 2.62%, and it is real but conditional. Reaching it means holding a Bank of America business checking account and qualifying for Preferred Rewards for Business at Platinum Honors, which requires a three-month combined average daily balance of $100,000; the lower tiers pay 1.87% at Gold ($20,000) and 2.25% at Platinum ($50,000). That is a banking relationship, not a spending choice, so we rank this card at the 1.5% anyone gets and leave the ladder as upside you can confirm against your own balances.

One field we could not confirm: Bank of America's product page never states a foreign transaction fee for this card, unlike its Travel Rewards sibling, which advertises no international transaction fees. Rather than guess, we left the fee unset — check your own cardholder agreement before putting overseas spend on it. At home, this is a clean 1.5% floor to pair with a category card such as the Business Advantage Customized Cash Rewards, which earns more in a chosen category but drops to 1% outside it.

Key benefits

• No annual fee
• No annual cap on cash back, and rewards do not expire as long as your account remains open

Common questions

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

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

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

1.5% on all other purchases, in Cash Back.

How do I get 2.62% instead of 1.5% on this card?

You need a Bank of America business checking account and Preferred Rewards for Business status at the Platinum Honors tier, which is based on a three-month combined average daily balance of $100,000. Gold ($20,000) pays 1.87% and Platinum ($50,000) pays 2.25%. Because the boost depends on balances rather than how you spend, we rank the card at the base 1.5% and treat the rest as upside.

Does the Business Advantage Unlimited Cash Rewards charge a foreign transaction fee?

Bank of America does not publish one on the product page for this card, so we have deliberately left the field unset rather than guess. Its Travel Rewards business sibling explicitly advertises no international transaction fees, and the Customized Cash Rewards business card charges 3%, so the answer is genuinely not predictable from the family. Confirm it in your cardholder agreement before travelling.