BofA Business Cash Rewards Now Has a Targeted $500 Bonus
Bank of America is offering the best ever bonus for its Business Advantage Cash Rewards Mastercard. Some people have been targeted with an offer to earn $500. That’s much better that the $300 bonus we usually wee on the card.
Update 4/25/20 – Shawn’s wife was just targeted for this offer so it appears they are sending out another round to more people. She got the offer after logging into her Bank of America account.
The Offer
$500 online statement credit bonus offer – Get a $500 statement credit when you make at least $5,000 in net purchases within 90 days of your account opening.
No annual fee.
There’s no direct link to this offer. It was sent by email and includes a unique link that you can use to apply, if you were targeted.
Card Details
Bank of America Business Advantage Cash Rewards Mastercard previously earned 3% cash back at gas stations and office supply stores. Now the credit card lets you choose your own 3% category from a list of common expenses. Those six categories include:
- gas stations
- office supply stores
- travel
- television/telecom and wireless
- computer services
- business consulting services
You also earn 2% cash back on purchases at restaurants.
While you have more flexibility now with the six categories, there’s also some negative changes. Under this card’s previous rewards structure, you earned 3% cash back on $250,000 a year in combined spending at gas stations and office supply stores. The 2% cash back at restaurants was unlimited. Now Bank of America has lowered the annual limit to $50,000 in combined purchases on both the 3% and 2% categories.
If you’re a Business Advantage Relationship Rewards client, you can get an additional 25% – 75% rewards bonus on the base earn of every purchase you make. Learn more about Relationship Rewards.
Conclusion
The usual bonus is $200, and we see a $300 public bonus sometimes. So this new offer is clearly much better, and a pretty good cash bonus in general. Keep in mind that the Business Advantage Relationship Rewards bonus doesn’t apply to the signup offer, only to cashback earned through spending.
Bank of America business cards do not get reported to personal credit agencies. So this could be an option for those looking for cashback bonuses while staying under 5/24.
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Chase Sapphire Preferred® Card is the old king of travel rewards cards. Right now
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Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
After logging in with my BofA app, it recommended the BofA premium rewards card ($500 bonus). I’d gotten this card in April 2017, then the bonus a couple of months later. Sometime last year, I closed the card. I doubt that it’s been 24 months since I closed it, so why would they be recommended it? Would it be safe to apply today?
Oh, the grammar! Should read “why would they be recommending it.”
BOA doesn’t have a 24 month rule so you should be good.
Under “Conditions,” it reads, “This card may not be available to you if you currently have or have had the card in the preceding 24 month period.”
I just pulled the trigger and applied anyway, because the app recommended it to me, also because it was again recommended after I checked for pre-qualified offers. The application is in review. Fingers crossed.
That’s actually incorrect Bank of America does have a 24 month rule. And I churned that card twice did have to wait 24 months.
I stand corrected – thanks James.
I should have checked our guide 🙁
https://milestomemories.com/credit-card-application-rules-by-bank/#BofA
I got denied for this and on the letter in the mail they listed the main business card services phone number, and for the past two weeks every single time I’ve tried to call this or any recon number, the same message is played: We are temporarily unable to answer your call. Please try again later.
Very frustrating. If anyone knows any number that does work….