bank of america corporate credit card

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Источник: https://www.bankofamerica.com/credit-cards/manage-your-credit-card-account/

Former Bank of America analyst charged nearly $21,000 to his corporate card at an 'adult venue' and refused to pay it back, new complaint alleges

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FILE PHOTO: A Bank of America building is seen in Los Angeles, California, U.S., May 6, 2019. REUTERS/Lucy Nicholson
Reuters
  • A former Bank of America analyst charged over $20,000 to his corporate card at an "adult venue," a complaint from the securities industry self-regulator FINRA filed Friday alleges.
  • The former employee still has not paid the firm back and said that his card was stolen, the complaint said.
  • But a recording of the employee phoning his corporate card's call center shows otherwise, the complaint alleged. 
  • Visit Business Insider's homepage for more stories.

A former Bank of America analyst charged close to $21,000 at an "adult venue" to his corporate credit card and didn't pay the company back, a complaint filed Friday by a financial regulatory authority alleged.

Paramveer Singh had worked at Bank of America Securities, the investment banking division formerly known as Bank of America Merrill Lynch, for five years when he visited an unnamed "adult venue," according to his BrokerCheck profile and the FINRA complaint. From the evening of May 29 into the early hours of the morning, Singh spent thousands of dollars at the adult venue, racking up charges that totalled $20,767.96, the complaint alleged.

bank of america FINRA complaint
Financial Industry Regulatory Authority (FINRA)

Then, between 2 a.m. and 3 a.m. in the morning, Singh's corporate card was declined, and he made a call to the corporate call center to inquire about the declined charges, the complaint said. During the call, which was recorded, he confirmed personal details about himself, including his identity, the credit limit of the card, and his email address on file, the complaint said. At the time, he said he was visiting the venue with a client, the complaint said. 

But just two days later, on May 30, Singh called the same call center, claiming that he had lost his Bank of America card at the venue and that the charges were the result of fraud, the complaint claimed. Later that summer, when Bank of America investigated the case, he also claimed that the card had been stolen and the charges were fraudulent, the complaint said.

Bank of America paid the sum and later "discharged" Singh, the complaint said. He has still not paid Bank of America back, the complaint alleged. 

After leaving Bank of America, Singh worked at Oppenheimer & Co. Inc for six months. His tenure ended in July, according to his BrokerCheck file. 

Additional details from the complaint allege that Singh was a regular at the adult venue, spending nearly $30,000 on his personal credit cards in the spring and summer of 2019. Besides the thousands he charged to his Bank of America corporate card, Singh charged around $8,400 to his personal credit card at the adult venue that night, the complaint said. 

When the Financial Industry Regulatory Authority (FINRA), a self-regulator that oversees securities professionals,  investigated the case, Singh told them that "I am 100 percent certain that I did not make the charges. . . . I did not authorize those charges and I have no idea who actually used it on that May 29th/May 30th," the complaint said. In addition, Singh denied phoning the call center, even after a recording was played for him, the complaint said. 

The complaint requests that Singh faces a FINRA panel about these allegations and that he pays the $20,767.96 back, with interest. 

Singh did not respond to Business Insider's request for comment.

"As a matter of policy, we do not publicly comment on former employees," said Joseph Kuo, a spokesperson for Oppenheimer.

A Bank of America representative referred Business Insider to allegations posted on Singh's BrokerCheck file, which show that he was discharged in September of 2019, under the allegation he performed "conduct involving the use of a corporate credit card inconsistent with the firm policy."

Get the latest Bank of America stock price here.

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Источник: https://www.businessinsider.com/banking-analyst-allegedly-charged-20-thousand-adult-venue-corporate-card-2020-11

TD Business Solutions Credit Card

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Earn up to 2% Cash Back Rewards when you redeem into an eligible TD Bank Deposit Account*

Earn Cash Back Rewards for your business*

Earn $250 Cash Back in the form of a statement credit when you spend $1,500 within the first 90 days after account opening
Earn unlimited Cash Back – no rotating categories, no caps or limits as long as your credit card account is open and in good standing

*Read terms and conditions for important information about APRs, fees, eligible purchases, balance transfers and rewards program details. Terms for the TD Deposit Account govern use and any limitations that may prohibit from depositing or withdrawing a Redemption Bonus.

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13.99%, 18.99% or 23.99% variable APR based on your creditworthiness

APR for Balance Transfers

13.99%, 18.99% or 23.99% variable APR based on your creditworthiness

Balance Transfer Fee

$5 or 3% of transfer whichever amount is greater

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$1

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Cash Advance Fee

$10 or 5% of advance whichever amount is greater

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None

Foreign Transaction Fee

3% of each transaction in U.S. dollars

Late Payment

Up to $40

Return Payment

Up to $39

TD Bank Visa® Credit Card Benefits

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Enjoy Visa security on purchases, plus protection against unauthorized charges

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View the Business Credit Card Agreement for TD Business Solutions Credit Card.

*Read important terms and conditions for details about APRs, fees, eligible purchases, balance transfers and rewards program details. The terms and conditions associated with your TD Bank, N.A. Deposit Account govern the use of that account and any limitations that may prohibit you from depositing or withdrawing your Redemption Bonus.

1Visa’s Zero Liability Policy does not apply to certain commercial card and anonymous prepaid card transactions or transactions not processed by Visa. Cardholders must take care in protecting their card and notify TD Bank immediately of any unauthorized use.

2By clicking on this link you are leaving our website and entering a third-party website over which we have no control.

Neither TD Bank US Holding Company, nor its subsidiaries or affiliates, is responsible for the content of third-party sites hyper-linked from this page, nor do they guarantee or endorse the information, recommendations, products or services offered on third-party sites.

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The Contactless Symbol and Contactless Indicator are trademarks owned by and used with permission of EMVCo, LLC.

View the Business Credit Card Agreement for TD Business Solutions Credit Card.

*Read important terms and conditions for details about APRs, fees, eligible purchases, balance transfers and rewards program details. The terms and conditions associated with your TD Bank, N.A. Deposit Account govern the use of that account and any limitations that may prohibit you from depositing or withdrawing your Redemption Bonus.

1Visa’s Zero Liability Policy does not apply to certain commercial card and anonymous prepaid card transactions or transactions not processed by Visa. Cardholders must take care in protecting their card and notify TD Bank immediately of any unauthorized use.

2By clicking on this link you are leaving our website and entering a third-party website over which we have no control.

Neither TD Bank US Holding Company, nor its subsidiaries or affiliates, is responsible for the content of third-party sites hyper-linked from this page, nor do they guarantee or endorse the information, recommendations, products or services offered on third-party sites.

Third-party sites may have different Privacy and Security policies than TD Bank US Holding Company. You should review the Privacy and Security policies of any third-party website before you provide personal or confidential information.

The Contactless Symbol and Contactless Indicator are trademarks owned by and used with permission of EMVCo, LLC.

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Источник: https://www.td.com/us/en/personal-banking/credit-cards/business-solutions-credit-card/

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Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for property located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.

HSBC Global Money Account is a prepaid, multi-currency account available on our the HSBC Mobile Banking App for customers who maintain an HSBC consumer deposit account.

Data rate charges from your service provider may apply.  HSBC Bank USA, N.A. is not responsible for these charges.  Camera-in device required to be able to utilize HSBC Mobile Check Deposit. Deposit amount limits may apply.  HSBC Mobile Banking App is available for iPhone®, iPad®, AndroidTM devices and must be downloaded from the App StoreSM or Google PlayTM.

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HSBC commissioned this article as part of our Beyond Banking initiative.  While HSBC is pleased to offer this Beyond Banking article as an educational service to our customers, HSBC does not guarantee, warrant or recommend the opinion or advice or the product and/or services offered or mentioned in this article.  Any opinions, judgments, advice, statements, services, offers or other information presented within a Beyond Banking article are those of a third party and not HSBC.

For clients located outside of the U.S. - Our products and services are not specifically directed at individuals located in the European Union. Our U.S. representatives, as well as our public website, us.hsbc.com, provide products and services governed by U.S. laws and regulations. Our products and services, as well as their specific terms and conditions, are subject to change and may not be available in all territories or to all customers. If you are not located in the U.S., the laws and regulations of your country of residence could affect the offering, negotiation, discussion, provision, and/or use of HSBC U.S. products and services. If you are not a U.S. resident, please read the specific cross-border product and service disclaimers, which are available on the Cross Border Disclosure page of our public website at www.us.hsbc.com/crossborder.

Источник: https://www.us.hsbc.com/

What to Do If You Spot Fraud on Your Bank of America Credit Card

When I found fraud on my credit card, my first reaction was not the correct one: I panicked. I was stressed and worried, and those emotions stopped me from taking productive action.

I didn’t know what to do and for some reason, I felt a little afraid to contact my credit card company. What if they thought I was lying? I thought.

Looking back, this is clearly irrational. But that’s what happens when you panic! So if you find yourself in this situation, my best advice is to stay calm. Know it’s okay and figuring out what to do doesn’t have to be hard.

If you have a Bank of America credit card and you spot evidence of fraud on your statement, you can follow the steps and tips outlined here. The faster you act and contact the Bank of America fraud department, the faster this issue gets resolved.

Does Your Bank of America Credit Card Protect You Against Fraud?

Telling someone not to panic when they spot crazy charges they didn’t make sounds like a case of easier said than done, right? But here’s why you truly shouldn’t spend your energy worrying.

Federal law limits all cardholders across banks and credit issues to $50. Individual issuers and companies can waive even that, and Bank of America is one bank that does. Their consumer credit cards are covered by the bank’s Total Security Protection service.

That includes a $0 liability guarantee. The bank will reimburse you for any fraudulent credit card transactions. They can credit your account for fraudulent charges made on your card as soon as the next business day in some cases.

So instead of panicking first, contact Bank of America. Know you’re protected, but you need to alert the bank and provide them with as much as you know about the fraudulent activity.

How to Report to the Bank of America Fraud Department

If you spot fraud on your Bank of America credit card, you need to call 1-800-432-1000. You can also log into your online account portal to report fraud if your card was lost or stolen -- but if you do so, follow up with a call.

If you suspect you received an email, phone call, or text that was part of a phishing scam, you can contact [email protected].

Make sure to forward the suspicious message to that email address when you contact the bank. For texts and phone calls, describe the incident in as much detail as possible so the Bank of America fraud department has all the information available to investigate further. Be prepared to scan, fax, or mail other supporting documentation like bills from services you didn’t sign up for and your credit card statement itself.

You need to report any and all fraudulent activity that you find or even suspect. If you don’t make the report, fraud protection won’t cover you. You could be liable for the charges you didn’t authorize.

This is one big reason it’s better to be overly cautious rather than brush it off as no big deal. And it’s also why you should always check your statements carefully each month! Go through the document and look at every single transaction. If Bank of America doesn’t receive your report, they can’t protect you or your credit card against fraud.

You need to take one additional step if the fraud was caused by identity theft: contact law enforcement and file a police report.

What Happens Next?

Once you contact Bank of America, they can start processing and investigating your report. During this process, they’ll first verify whether or not you were a victim of fraud (and explain what happened if they determine you were not). Make sure to record any case numbers they provide you -- you’ll need this when you call back to follow up on your report.

They’ll then remove fraudulent charges and credit your account so you’re not liable for making payments on those amounts. Bank of America may close your account or simply cancel the affected credit card in order to prevent continued unauthorized transactions.

After the old, affected account and card is either closed or canceled, the bank will provide you with a new account and card number. They’ll also expedite a new card to you so you can get back to normal with your financial life as soon as possible.

Once you receive your new card, make sure to update your existing information across accounts, subscriptions, and services. You need to put in your new card number so payments will continue to process without issue.

Update anything you have set to auto-pay and look into subscription services like Netflix to make sure the payment information reflects your new credit card’s info. You’ll also want to update any site or app that stores payment information, too, like Amazon or Uber.

This is all about being safe rather than sorry, so keep an eye on your Bank of America account and statements. You want to ensure they credited your account for the fraudulent charges you aren’t liable for. If you have questions or need information throughout the process, don’t hesitate to call back and reference your unique case number.

Stopping Fraud in the Future

The bank's debit and credit cards come with built-in security features and also extend purchase protection to cardholders. That’s good news for you if you experience fraud on your Bank of America credit card. Even better? It doesn’t cost you anything to take advantage of it.

Security starts with chips embedded into credit cards. These chips make it really difficult for thieves to steal your information from chip-enabled card readers or by using skimmers.

Bank of America also provides fraud monitoring, which means they keep an eye on your account at all times. They look for patterns in your normal spending and alert you when something unusual occurs.

You can also set up your own account alerts to monitor activity (instead of just checking statements on a monthly basis). Log into your online banking portal and navigate to “Alerts” tab. From there, you can customize what alerts you receive and how you get them.

They also provide resources on their site that can help you better understand how to prevent fraud and what steps to take if it happens to you. This includes their lost or stolen wallet guide, tips on how to implement smart Internet security measures, and best practices for general credit card safety.

Talk to Credit Bureaus, Too

It’s critical that you report fraud to Bank of America immediately to avoid being charged for transactions you didn’t make. Once you do so, you can take the process a step further by reaching out to the 3 credit bureaus, as well.

First, request a copy of your credit report. Once you receive it, check it for evidence of fraud on other accounts you own. Then, consider asking the bureau to place fraud alerts on your report.

This message requests that creditors get in touch with you via the contact information you provide before they open any accounts in your name. Here’s where to call each of the 3 bureaus:

U.S. Credit Bureaus Contact Info

Credit BureauPhone numberMailing Address
Equifax1-800-525-6285Equifax Fraud Assistance, P.O. Box 105069, Atlanta, GA 30348
Experian1-888-397-3742Experian, P.O. Box 949, Allen, TX 75013
TransUnion1-800-680-7289Fraud Victim Assistance Department, P.O. Box 6790, Fullerton, CA 92834

And if you have accounts or cards with other financial institutions, Bank of America suggests contacting those companies. They can help protect you by checking your accounts for fraud, updating passwords, and canceling anything that’s affected.

What You Can Do on Your Own

You don’t need to rely solely on any bank or card issuer to help prevent fraud. There’s a lot that you can do yourself to stop this from happening to you again.

The most obvious steps are to keep both your physical card and your personal information safe. Don’t let other people use your card or take it out of your sight when you make transactions. Avoid giving out your data (including your card number) on the phone if you don’t verify the caller. And never provide that information via email.

Keeping personal info safe also means keeping paperwork, documents, and receipts safe. Even when you go to throw them away, make sure you shred these papers so thieves can’t use information in your trash to commit fraud.

Protect your digital info with the same care — don’t give out passwords or make them obvious. (If your password is “password,” please change it now.) Update your passwords every six months and don’t use the same one for all your accounts.

And as outlined above, report any activity you think is suspicious. It may feel like overkill, but it’s better to be cautious than careless when it comes to fraud. No one will fault you for working to prevent fraudulent activity, but it’s a headache for everyone to sort out once it happens.

Using your common sense and good judgment goes a long way in keeping your credit safe. Simply staying aware and choosing caution over shrugging and saying, “it’ll be fine” can help prevent your Bank of America credit card from racking up fraudulent charges in the future.

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Источник: https://www.mybanktracker.com

Review: Bank of America Business Credit Card Options

Bank of America (BofA) is the second largest bank in the United States, with more than $2.2 trillion in assets and over 4,500 retail centers. Due to the company’s huge presence and global brand, it isn’t surprising that many businesses turn to BofA for financing.

Topics Covered in this Article:

One of BofA’s financing options is business credit cards, which is popular way to secure financing. In 2017 Bank of America ranked as the 4th largest credit card issuer in the United States.

The plethora of Bank of America credit cards can be overwhelming, especially if you aren’t sure how you’ll use the card most. There are several types of credit cards, including secured and unsecured options, as well as variable and fixed interest rates. There are other considerations as well, such as miles, cash back rewards, overdraft fees, and transfer fees.

Selecting the right credit card can be daunting. If you’ve decided of Bank of America as your credit card provider, you should ensure that you’re aware of all their options. Or, if you aren’t sure if you want to apply for a BofA card, you can compare them to other bank’s options. Below, we’ve listed several of Bank of America’s best credit cards for small business owners, so that you can easily decide!

Which Bank of America Credit Card is Right for Your Business?

Best Bank of America Card for Cashback Rewards:

The Bank of America Business Advantage Cash Rewards Mastercard is a great option for small business owners that plan to use their credit cards regularly, owing to its high caps. Other credit cards feature higher percent cash back but have smaller caps. Since most business owners make numerous purchases to maintain their operations, the cash back bonuses can quickly add up.

Currently, there’s a $300 statement credit bonus offer when you submit your application online.

BofA Cash Back Benefits:

  • 3 percent cash on purchases at gas stations and supply stores (up to $250,000).
  • 3 and 2 percent cash back on the first $50,000 in combined choice category and dining purchases each calendar year.
  • 2 percent cashback on all restaurant spending (unlimited).
  • 1 percent on all purchases outside of the above categories.
  • $200 statement credit bonus after spending $500 in first 60 days of your account opening.

A high $250,000 cap on office supply stores makes the Business Advantage Cash Rewards card especially great for businesses that purchase a lot of supplies. However, you’ll need an excellent credit 1st financial federal credit union routing number to qualify for this card. To ensure you’ll qualify, we recommend checking your credit score prior to applying.

Other Credit Card Features:

  • No annual fee.
  • Introductory 0 percent APR for first nine billing cycles.
  • APR of between 12.49 percent and 22.49 percent.

Bank of America In Text

Best Bank of America Credit Card for Frequent Travelers:

Business Advantage Travel Rewards World Mastercard is a fantastic choice for anyone looking to accumulate miles. If your employees are going to be spending a lot of time on the road, miles could go a long way. This is especially true if you use Bank of America’s travel center, which is quite affordable. When using the travel center, you can double your points earned per dollar to 3 points.

Travel Benefits Include:

  • No blackout dates for travel.
  • Earn unlimited 1.5 points for every $1 spent anywhere.
  • Earn 25,000 bonus points if you make $1,000 in net purchases within 60 days of opening your account.
  • No foreign transaction fees.

In order to qualify for this business credit card, you’ll need excellent credit history. In addition, redeeming your points for cash back will greatly reduce reward levels. Therefore, if your business is unlikely to use the points to travel through Bank of America’s Travel Center, you should consider a credit card with cash back features.

Other Features of this Credit Card:

  • $150 statement credit after your first $500 in purchases within 60 days of opening your account.
  • No annual fee.
  • APR between 12.49 percent and 22.49 percent.
  • 0 percent APR for first 9 billing cycles.

Best BofA Card for Businesses with Low Credit Scores:

Many of Bank of America’s best credit cards require excellent credit scores. Unfortunately, some business owners struggle with poor credit. Given how competitive marketplaces are, setbacks aren’t uncommon. Fortunately, the BankAmericard Secured credit card is designed specifically for people who need to rebuild their credit scores.

Secured Credit Card Features:

  • Identity theft protection and account alerts.
  • Access to credit education.
  • Deposit returns based upon credit history.
  • $39 annual fee.

Secured credit cards use deposits as collateral, in case you can’t repay the amount you’ve charged to the card. This lowers the risk for lenders and allows them to work with individuals who have poor credit scores.

Other Credit Card Features:

  • 49 percent APR.
  • 3 percent balance transfer fee.
  • Mobile banking options.

Conclusion: Choose the BofA Card That’s Best for Your Business

Bank of America offers a variety of credit cards, each with their own benefits and drawbacks. The options mentioned in this post are some of the better choices However, you might find a credit card that more closely suits your needs through a different bank.

When selecting a credit card, consider your financial situation and goals, including your credit score, potential cash back rewards, and how you’ll use the card. Then, examine BofA and other banks’ offerings to find the card that best matches your needs. Of course, before you apply, make sure to examine the terms and conditions.

Have you used a Bank of America business bank of america corporate credit card card? Perhaps you’re a current Bank of America customer? If so, share your experience with us in the comment section.

Editor’s Note: This post was updated for accuracy and comprehensiveness in September 2019.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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Post by: Fora Financial

Fora Financial is a working capital provider to small business owners nationwide. In addition, the Fora Financial team provides educational information to the small business community through their blog, which covers topics such as business financing, marketing, technology, and much more. If you’d like to see a topic covered on the Fora Financial blog, or want to submit a guest post, please email us at [email protected].

Источник: https://www.forafinancial.com/blog/small-business/bank-america-business-credit-card-options/

Former Bank of America analyst charged nearly $21,000 to his corporate card at an 'adult venue' and refused to pay it back, new complaint alleges

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FILE PHOTO: A Bank of America building is seen in Los Angeles, California, U.S., May 6, 2019. REUTERS/Lucy Nicholson
Reuters
  • A former Bank of America analyst charged over $20,000 to his corporate card at an "adult venue," a complaint from the securities industry self-regulator FINRA filed Friday alleges.
  • The former employee still has not paid the firm back and said that his card was stolen, the complaint said.
  • But a recording of the employee phoning his corporate card's call center shows otherwise, the complaint alleged. 
  • Visit Business Insider's homepage for more stories.

A former Bank of America analyst charged close to $21,000 at an "adult venue" to his corporate credit card and didn't pay the company back, a complaint filed Friday by a financial regulatory authority alleged.

Paramveer Singh had worked at Bank of America Securities, the investment banking division formerly known as Bank of America Merrill Lynch, for five years when he visited an unnamed "adult venue," according to his BrokerCheck profile and the FINRA complaint. From the evening of May 29 into the early hours of the morning, Singh spent thousands of dollars at the adult venue, racking up charges that totalled $20,767.96, the complaint alleged.

bank of america FINRA complaint
Financial Industry Regulatory Authority (FINRA)

Then, between 2 a.m. and 3 a.m. in the morning, Singh's corporate card was declined, and he made a call to the corporate call center to inquire about the declined charges, the complaint said. During the call, which was recorded, he confirmed personal details about himself, including his identity, the credit limit of the card, and his email address on file, the complaint said. At the time, he said he was visiting the venue with a client, the complaint said. 

But just two days later, on May 30, Singh called the same call center, claiming that he had lost his Bank of America card at the venue and that the charges were the result bank of america corporate credit card fraud, the complaint claimed. Later that summer, when Bank of America investigated the case, he also claimed that the card had been stolen and the charges were fraudulent, the complaint said.

Bank of America paid the sum and later "discharged" Singh, the complaint said. He has still not paid Bank of America back, the complaint alleged. 

After leaving Bank of America, Singh worked at Oppenheimer & Co. Inc for six months. His tenure ended in July, according to his BrokerCheck file. 

Additional details from the complaint allege that Singh was a regular at the adult venue, spending nearly $30,000 on his personal credit cards in the spring and summer of 2019. Besides the thousands he charged to his Bank of America corporate card, Singh charged around $8,400 to his personal credit card at the adult venue that night, the complaint said. 

When the Financial Industry Regulatory Authority (FINRA), a self-regulator that oversees securities professionals,  investigated the case, Singh told them that "I am 100 percent certain that I did not make the charges. . I did not authorize those charges and I have no idea who actually used it on that May 29th/May 30th," the complaint said. In addition, Singh denied phoning the call center, even after a recording was played for him, the complaint said. 

The complaint requests that Singh faces a FINRA panel about these allegations and that he pays the $20,767.96 back, with interest. 

Singh did not respond to Business Insider's request for comment.

"As a matter of policy, we do not publicly comment on former employees," said Joseph Kuo, a spokesperson for Oppenheimer.

A Bank of America representative referred Business Insider to allegations posted on Singh's Bank of america corporate credit card file, which show that he was discharged in September of 2019, under the allegation he performed "conduct involving the use of a corporate credit card inconsistent with the firm policy."

Get the latest Bank of America stock price here.

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Источник: https://www.businessinsider.com/banking-analyst-allegedly-charged-20-thousand-adult-venue-corporate-card-2020-11

Best Bank of America business credit card for cash back

Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card

$300 statement credit after you make at least $3,000 in net purchases in the first 90 days of your account opening.

Our thoughts

The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card is a good choice for loyal Bank of America customers who have a Bank of America business checking account and don't want to pay an annual fee.

This card also is a natural fit for business owners who like to have control and flexibility in their rewards earning. That's because you can Earn 3% cash back in the category of your choice, 2% cash back on dining purchases and unlimited 1% cash back on all other purchases. You'll earn 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter. If you spend heavily in one of the available categories, this feature may really allow you to maximize your rewards.

The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card also offers excellent value for business owners who already do business with Bank of America and qualify for the Preferred Rewards for Business program. You can get a 25%, 50% or 75% boost on your rewards earning on the card, based on the average balances in your Bank of America business deposit and Merrill Business investment accounts.

The card may not be a great choice for business owners who travel internationally, however, due to its foreign transaction fee.

  • Flexible rewards structure lets you earn 3% cash back in your choice of one of six bonus categories plus 2% back on dining
  • Ability to earn 25% to 75% extra rewards if you have a Bank of America business checking account and qualify for Preferred Rewards for Business
  • Intro APR of 0% for 9 billing cycles on purchases (then a 12.24% - 22.24% variable APR applies)
  • $0 annual fee
  • Bonus on 3% and 2% categories is capped at $50,000 in combined purchases
  • Welcome bonus is not very lucrative compared with boone county jailtracker kentucky business credit cards
  • Rewards redemption options limited to bank account deposit, statement credit or check
  • 3% of the U.S. dollar amount of each transaction foreign transaction fee

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Best Bank of America business credit card for general travel

Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

30,000 bonus points after you make at least $3,000 in net purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining-related purchases.

Our thoughts

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is a great choice for business owners who want to rack up rewards without bank of america corporate credit card an annual fee. It may be a good fit for cardholders who do some international travel but aren't frequent flyers. And while it doesn't offer a slew of fancy travel perks, the lack of a foreign transaction fee means business owners can rely on this card during trips out of the country.

This Bank of America® Business Advantage Travel Rewards World Mastercard® credit card also works well for business owners whose spending varies from month to month. The card offers the same rate on most purchases: 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center. Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend. Points don't expire. The simple rewards structure means you don't have to think about bonus categories or grab different cards for different purchases.

This card also richly rewards current Bank of America and Merrill customers who keep the balances in their business checking or investment accounts high enough to qualify for Preferred Rewards for Business. These customers can really ramp up rewards and reap big benefits from this card.

  • Simple rewards structure offers the same rate on most purchases
  • You can earn up to 75% more rewards if you have a Bank of America business checking account and qualify for Preferred Rewards for Business
  • Foreign transaction fee: None
  • Intro APR of 0% for 9 billing cycles on purchases (then a 12.24% - 22.24% Variable APR on purchases applies)
  • $0 annual fee
  • Business owners who spend a lot on travel or dining and don't want to book through Bank of America Travel Center may earn more rewards with a different card
  • Less attractive welcome bonus than those offered by many other business cards

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Best Bank of America business credit card with a low APR

Bank of America® Platinum Plus® Mastercard® Business card

$300 statement credit after you make at least $3,000 in net purchases in the first 90 days of your account opening.

Our thoughts

The Bank of America® Platinum Plus® Mastercard® Business card doesn't outshine many other business cards on the market, but it may be a good choice for business owners who don't want to pay an annual fee and need flexibility due to ebbs in cash flow.

Because this card offers a low APR, it can help business owners who need to avoid getting hit with high interest if they're unable to pay their credit card bill in full every month. It's also a good choice for business owners who want to finance a big purchase and may not be able to pay off the entire amount during the introductory period.

For small business owners who plan to use the card to finance a costly item, that initial big purchase may offer an easy way to meet the minimum spending requirement and put $300 in your pocket through the welcome bonus.

  • Low APR of 10.24% - 21.24% Variable APR makes this card a good option for business owners who can't always pay in full each month
  • Intro APR of 0% for 7 billing cycles on purchases (then a 10.24% - 21.24% Variable APR applies)
  • Using this low-interest card to finance a big purchase could be an easy way to earn the $300 sign-up bonus
  • $0 annual fee
  • Sign-up bonus lower than those offered by many other business credit cards
  • Lack of rewards means you won't earn cash back, points or miles for business spending on this card
  • The introductory period for purchases is a little on the short side, which means you’ll need to pay off purchases quickly to avoid interest

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Best Bank of America business credit card for airlines

Alaska Airlines Visa® Business card

60,000 Bonus miles when you make at least $3,000 in purchases within the first 90 days of opening your account.

Our thoughts

The Alaska Airlines Visa® Business card is a great option for business owners who are also Alaska Airlines frequent flyers.

The card offers unlimited 3 miles for every $1 spent on eligible Alaska Airlines purchases and unlimited 1 mile for every $1 spent on all other purchases. It also includes several nice airline perks such as free checked bags for you and up to six companions and steeply discounted lounge passes.

One key perk of this card is its annual companion fare: a discount code that allows you to buy an annual companion fare for just $121 ($99 plus taxes and fees) when you purchase a full-fare domestic coach ticket. This companion fare and the other travel benefits can add significant value for those who fly Alaska Airlines often enough to reap the rewards.

The card does charge an annual fee, but it's modest compared with many other airline business credit cards, provided you carry only one card.

  • Offers a competitive welcome bonus with an Alaska Airlines Companion Fare offer to sweeten the deal
  • Airline perks including free checked bags and 50% off Alaska Lounge day passes
  • Miles redemption flexibility with no blackout dates on Alaska Airlines, plus option to redeem on partner airlines
  • You must be a frequent Alaska Airlines flyer to reap full benefits
  • Annual fee of $50 for the company and $25 per card
  • Lackluster rewards rate outside of Alaska Airlines purchases (only 1 mile per $1 spent)

{"backgroundColor":"white","content":"\u003C\/p\u003E\n\n\u003Ch3\u003EAlaska Airlines Visa\u00ae Business card\u003C\/h3\u003E\n\n\u003Cp\u003E\u003Cdiv class=\"ShortcodePullquote--root\"\u003E\n \u003Cp class=\"ShortcodePullquote--text ShortcodePullquote--blue\"\u003E\n 60,000 Bonus miles when you make at least $3,000 in purchases within the first 90 days of opening your account.\n \u003C\/p\u003E\n\u003C\/div\u003E\u003C\/p\u003E\n\n\u003Ch3\u003EOur thoughts\u003C\/h3\u003E\n\n\u003Cp\u003EThe \u003Cspan\u003E\u003Ca class=\"ShortcodeLink--root ShortcodeLink--black\" title=\"Alaska Airlines Visa\u00ae Business credit card Review: Is it the Best Travel Card for Your Business?\" href=\"https:\/\/www.valuepenguin.com\/travel\/alaska-airlines-visa-business-credit-card-review\"\u003EAlaska Airlines Visa\u00ae Business card\u003C\/a\u003E\u003C\/span\u003E is a great option for business owners who are also Alaska Airlines frequent flyers.\u003C\/p\u003E\n\n\u003Cp\u003EThe card offers unlimited 3 miles for every $1 spent on eligible Alaska Airlines purchases and unlimited 1 mile for every $1 spent on all other purchases. It also includes several nice airline perks such as free checked bags for you and up to six companions and steeply discounted lounge passes.\u003C\/p\u003E\n\n\u003Cp\u003EOne key perk of this card is its \u003Cspan\u003E\u003Ca class=\"ShortcodeLink--root ShortcodeLink--black\" title=\"The 15 Best Credit Cards with Companion Tickets\" href=\"https:\/\/www.valuepenguin.com\/travel\/best-credit-cards-with-companion-fare-tickets\"\u003Eannual companion fare\u003C\/a\u003E\u003C\/span\u003E: a discount code that allows you to buy an annual \u003Cspan\u003E\u003Ca class=\"ShortcodeLink--root ShortcodeLink--black\" title=\"The 15 Best Credit Cards with Companion Tickets\" href=\"https:\/\/www.valuepenguin.com\/travel\/best-credit-cards-with-companion-fare-tickets\"\u003Ecompanion fare\u003C\/a\u003E\u003C\/span\u003E for just $121 ($99 plus taxes and fees) when you purchase a full-fare domestic coach ticket. This companion fare and the other travel benefits can add significant value for those who fly \u003Cspan\u003E\u003Ca class=\"ShortcodeLink--root ShortcodeLink--black\" title=\"The Ultimate Guide to the Alaska Airlines Mileage Plan Program\" href=\"https:\/\/www.valuepenguin.com\/2019\/09\/ultimate-guide-alaska-airlines-mileage-plan-program-2019\"\u003EAlaska Airlines\u003C\/a\u003E\u003C\/span\u003E often enough to reap the rewards.\u003C\/p\u003E\n\n\u003Cp\u003EThe card does charge an annual fee, but it's modest compared with many other airline business credit cards, provided you carry only one card.\u003C\/p\u003E\n\n\u003Cp\u003E\u003Cdiv class=\"ShortcodeToggle--root ShortcodeToggle--article \" id=\u003E\n \u003Cbutton class=\"ShortcodeToggle--toggle\" onclick=\"this.parentNode.classList.parentNode.classList.

Bank of America business credit card benefits

Bank of America offers a good selection of business credit cards designed to appeal to a variety of small business owners. These additional Bank of America business credit card benefits may make a Bank of America business card a good choice for you.

Many Bank of America small business credit cards include a 0% introductory APR on purchases. This is an attractive perk for small businesses that need to finance a big purchase, like a computer or office furniture, while minimizing borrowing costs. The 0% introductory period on Bank of America business cards ranges from seven to nine billing cycles, depending on the card. While Bank of America isn't offering the longest introductory periods on the market, these offers may provide plenty of time for some small businesses to pay off a purchase with zero interest.

Bank of America offers two business credit cards with no foreign transaction fees. What are foreign transaction fees? These sneaky fees appear as a percentage that gets tacked onto every purchase made outside the United States. These fees, which typically range from 1% to 3% extra, may surprise unsuspecting travelers and add unnecessary costs to a business trip.

These Bank of America business credit cards come with no foreign transaction fee:

  • Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
  • Alaska Airlines Visa® Business card

The other two Bank of America business credit cards charge "international transaction fees" of 3%, which is a typical foreign transaction fee. It's smart to know which cards charge such a fee, so you can plan ahead and avoid using these cards on trips outside the country.

Bank of America credit cards also come with some handy cash flow management tools that can help business owners stay on top of their expenses.

You can set up automatic payments and transfers and download transactions into QuickBooks for easier bookkeeping. If you're a Bank of America business banking customer, you can also use QuickBooks with your Bank of America business checking, savings and money market accounts. As such, a Bank of America small business credit card may be a good option for existing customers looking for more seamless transactions and record keeping.

How to apply for a Bank of America business credit card

You can apply for a Bank of America business credit card online by choosing the card you want and clicking on the "apply now" button to fill out an application. Existing Bank of America customers have the time saving option to pre-fill an online application.

It’ll be faster and easier to apply if you start by gathering the business and personal information you'll need for your application. Here's what you need to apply for a Bank of America business credit card:

  • Information about the business: the legal name, date business was formed, tax ID, gross sales and net profit
  • Information about you: your name, date of birth, Social Security number (SSN), address and email
  • Information about owners: personal information (such as name, date of birth and SSN) for each beneficial owner and controlling manager for the company

Keep in mind that when you apply for a Bank of America small business credit card, you're making a personal guarantee to be responsible for the spending on the card — that’s true for most small business cards. That means late payments or default on the card may negatively affect your personal credit history. As such, it's a good idea to think it through and make sure you're willing to take responsibility for the charges before you apply.

All Bank of America business credit cards require excellent credit. Want to improve your odds of getting approved for a Bank of America small business credit card? Make sure to check your personal credit history and your credit score before you apply.

Excellent credit means having a score between 800 and 850 as a general rule. If your score is close but not quite there, there are some easy ways to improve your credit score before you apply. Our recommendation: Pay down your balances on other cards to decrease your credit utilization — one of the biggest factors in determining your score. You should also get in the habit of paying your bill on time, every time — that means making at least the minimum payment, though ideally you'd pay in full each month.

How to check your Bank of America business credit card application status

When you apply for a Bank of America small business credit card, it's possible that you could get an answer within 24 hours. However, the process may take as long as 10 to 12 business days, and you may get a phone call if there are additional questions about your application.

Here are two ways to get your Bank of America business credit card application status:

  • Check your Bank of America business card application status online: If you haven't received an answer yet, you can check the status of your Bank of America business credit card application on the Bank of America website.
  • Contact Bank of America to check your business card application: You can also contact Bank of America by phone or mail to request an update on the status of your small business card application.

Whether you check the status of your application or not, you will receive an answer from Bank of America by mail within 30 days.

Methodology

To make choosing the right card easier, we've looked at credit cards reviewed on ValuePenguin as well as cards on major issuer sites to compile a list of the best rewards credit cards available right now. Our recommendations are based on the additional value you can earn with the cards — including the rewards value, cost of ownership and value of benefits such as travel and purchase protections, lounge membership and airline companion passes. Our choices are not influenced by our advertisers. Learn more on how we calculate rewards.

The information related to Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card, Bank of America® Business Advantage Travel Rewards World Mastercard® credit card, Bank of America® Platinum Plus® Mastercard® Business card and Alaska Airlines Visa® Business card has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.

Источник: https://www.valuepenguin.com/bank-of-america-business-credit-cards

Bank of America issues cards designed for people with a range of credit scores, from no credit to bad credit to good credit. It offers cards for:

Although you won’t find any high-end credit card offers here (you won’t see any cards with annual fees higher than $95), you’ll find a few cards with low fees (or no fees) that are surprisingly rewarding for the price.

Cash Back Rewards

Rewards
  • No annual fee
  • $200 cash rewards bonus for spending $1,000 in the first 90 days
  • NEW OFFER: Maximize your cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings
  • Now earn 3% cash back in your choice category and 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), and unlimited 1% on all other purchases
  • You can update your choice category for future purchases once each calendar month using the Mobile Banking app or Online Banking, or do nothing and it stays the same
  • No expiration on rewards
  • 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 13.99%–23.99% Variable APR will apply. A 3% fee (min $10) applies to balance transfers
  • If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase
Rewards
Spending Rewards
  • 3% cash back in one category of your choice:
    • Gas
    • Online shopping
    • Dining
    • Travel
    • Drugstores
    • Home improvement/furnishings stores
  • 2% cash back at:
    • Grocery stores
    • Wholesale clubs
  • 1% cash back on all other purchases
  • 3% and 2% rewards only up to $2,500 spent per quarter, then 1% cash back
Introductory Bonus
  • $200 cash rewards bonus for spending $1,000 in the first 90 days
Balance transfers

A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.

  • Intro Balance Transfer APR0% for 15 billing cycles
  • Regular Balance Transfer APR13.99%–23.99% Variable
  • Balance Transfer Fee3%, $10 minimum
How to Transfer a Balance on a Credit Card
Fees
  • Penalty APRUp to 29.99% Variable
  • Late FeeUp to $40
  • Returned Payment FeeUp to $29
  • Additional Cards Annual FeeN/A
  • Foreign Transaction Fee3%

The Bank of America® Customized Cash Rewards Card (Review) is a valuable cash back card, with flexible bonus categories for common expenses that many people have every week. Your 3% and 2% rates are limited to $2,500 in combined quarterly purchases. You’ll also get a nice online cash rewards bonus and pretty long 0% intro periods for purchases and balance transfers.

Travel Rewards

Bank of America issues two travel credit cards for consumers, one with no fee and one with a mid-range fee.

Rewards
  • Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire
  • 25,000 bonus points for spending $1,000 in the first 90 days after account opening
  • Use your card to book your trip how and where you want – you’re not limited to specific websites with blackout dates or restrictions
  • Redeem points for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars, or baggage fees
  • Comes with chip technology for enhanced security and protection at chip-enabled terminals
  • 0% Introductory APR for 12 billing cycles for purchases. After the intro APR ends, 13.99%–23.99% Variable APR will apply
  • If you’re a Preferred Rewards member, you can earn 25% - 75% more points on every purchase
Rewards
Spending Rewards
  • 3X points per dollar at the Bank of America Travel Center
  • 1.5X points per dollar on all other purchases
Introductory Bonus
Balance transfers

A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.

  • Intro Balance Transfer APRN/A
  • Regular Balance Transfer APR13.99%–23.99% Variable
  • Balance Transfer Fee3%, $10 minimum
How to Transfer a Balance on a Credit Card
Fees
  • Penalty APRUp to 29.99% Variable
  • Late FeeUp to $40
  • Returned Payment FeeUp to $29
  • Additional Cards Annual FeeN/A
  • Foreign Transaction FeeNone

The Bank of America® Travel Rewards Credit Card (Review) is a decent no-fee travel card, although you can’t transfer points to airline or hotel partners. However, you will be able to redeem your points for statement credits towards eligible travel expenses like baggage fees, rental cars, flights, or hotels.

Rewards
  • Receive 50,000 bonus points – a $500 value – after you make at least $3,000 in purchases in the first 90 days of account opening
  • Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points per $1 spent on all other purchases
  • If bank of america corporate credit card a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase
  • No limit to the points you can earn and bank of america corporate credit card points don’t expire
  • Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill Edge® and Merrill Lynch® accounts, or gift cards or purchases at the Bank of America Travel Center
  • Get up to $200 in combined airline incidental and airport expedited screening statement credits + valuable travel insurance protections
  • No Foreign Transaction Fees
  • Low $95 annual fee
Rewards
Spending Rewards
  • 2X points per dollar for:
  • 1.5X points per dollar for all other purchases
Introductory Bonus
  • 50,000 bonus points for spending $3,000 in the first 90 days
Balance transfers

A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.

  • Intro Balance Transfer APRN/A
  • Regular Balance Transfer APR15.99%–22.99% Variable
  • Balance Transfer Fee3%, $10 minimum
How to Transfer a Balance on a Credit Card
Fees
  • Penalty APRUp to 29.99% Variable
  • Late FeeUp to $40
  • Returned Payment FeeUp to $29
  • Additional Cards Annual FeeN/A
  • Foreign Transaction FeeNone

An upgrade to the card above, the Bank of America® Premium Rewards® Credit Card (Review) is a good travel rewards card that offers valuable perks like annual statement credits, which can completely offset the $95 annual fee.

Student Credit Cards

Bank of America issues a few credit cards designed for students with limited or no credit history.

CardRewards
Bank of America Customized Cash Rewards™ Credit Card for Students (Review)
  • 3% cash back in one category of your choice:
    • Gas
    • Online shopping
    • Dining
    • Travel
    • Drugstores
    • Home improvement/furnishings stores
  • 2% cash back at:
    • Grocery stores
    • Wholesale clubs
  • 1% cash back on all other purchases
  • 3% and 2% rewards only up to $2,500 in combined spending per quarter, then 1% cash back
  • $200 cash rewards bonus for spending $1,000 in the first 90 days
Bank of America Travel Rewards® Credit Card for Students
  • 3X points per dollar on purchases from the Bank of America travel center
  • 1.5X points per dollar for all other purchases
  • 25,000 bonus points when you spend $1,000 in the first 3 months
Rewards
  • $200 cash rewards bonus for spending $1,000 in the first 90 days
  • New Offer: Maximize your cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings
  • Now earn 3% cash back in your choice category and 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), and unlimited 1% on all other purchases
  • You can update your choice category for future purchases once each calendar month using the Mobile banking app or Online banking, or do nothing and it stays the same.
  • No changing categories and no expiration on rewards
  • 0% Introductory APR for 15 billing cycles for purchases and for any balance transfers made in the first 60 days, then, 13.99%–23.99% Variable APR. 3% fee (min $10) applies to balance transfers.
  • If you’re a Preferred Rewards client, you can increase that bonus to 25% - 75%. Click “Apply Now” to learn more about Preferred Rewards.
  • Now with chip technology for enhanced security and protection at chip-enabled terminals
  • No annual fee
Rewards
Spending Rewards
  • 3% cash back in one category of your choice:
    • Gas
    • Online shopping
    • Dining
    • Travel
    • Drugstores
    • Home improvement/furnishings stores
  • 2% cash back at:
    • Grocery stores
    • Wholesale clubs
  • 1% cash back on all other purchases
  • 3% and 2% rewards only up to $2,500 in combined spending bank of america corporate credit card quarter, then 1% cash back
Introductory Bonus
  • $200 cash rewards bonus for spending $1,000 in the first 90 days
Balance transfers

A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.

  • Intro Balance Transfer APR0% for 15 billing cycles
  • Regular Balance Transfer APR13.99%–23.99% Variable
  • Balance Transfer Fee3%, $10 minimum
How to Transfer a Balance on a Credit Card
Fees
  • Penalty APRUp to 29.99% Variable
  • Late FeeUp to $40
  • Returned Payment FeeUp to $29
  • Additional Cards Annual FeeN/A
  • Foreign Transaction Fee3%

Like the regular Cash Rewards card, your choice category/grocery/wholesale club bonus rewards are limited to the first $2,500 spent each quarter.

Rewards
  • Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire
  • 25,000 online bonus points if you make at least $1,000 in purchases in the first 90 days - that can be a $250 statement credit towards travel purchases
  • Use your card to book your trip how and where you want - no blackout dates and restrictions
  • Redeem points for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars, or baggage fees
  • Now with chip technology for enhanced security and protection at chip-enabled terminals
  • 0% Introductory APR for 12 billing cycles for purchases, then 17.24%–25.24% Variable APR
  • Get an additional 10% customer points bonus on every purchase when you have an active Bank of America® checking or savings account
  • Access your FICO® Score, updated monthly, for free from TransUnion
  • If you're a Preferred Rewards client, you can increase that bonus to 25%-75%. Click "Apply Now" to learn more about Preferred Rewards
Rewards
Spending Rewards
  • 3X points per dollar on purchases from the Bank of America travel center
  • 1.5X points per dollar for all other purchases
Introductory Bonus
  • 25,000 bonus points when you spend $1,000 in the first 3 months
Balance transfers

A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.

  • Intro Balance Transfer APRN/A
  • Regular Balance Transfer APR14.99%–22.99% Variable
  • Balance Transfer Fee3%, $10 minimum
How to Transfer a Balance on a Credit Card
Fees
  • Penalty APRUp to 29.99% Variable
  • Late FeeUp to $40
  • Returned Payment FeeUp to $29
  • Additional Cards Annual FeeN/A
  • Foreign Transaction Fee0%

One of the better student travel cards (in terms of rewards, intro bonus, and benefits) this is a lot like the regular consumer BofA Travel Rewards Card.

Secured Credit Cards

Bank of America provides one secured credit card, the BankAmericard® Secured Credit Card, which requires a refundable security deposit and is designed to help people build their credit.

Rewards
  • No application fees or activation fees
  • Credit line of $300–$4,900
  • Your maximum credit line is determined by your individual ability to pay based on the income that you provide and your security deposit
  • Important account information is shared with the 3 major credit bureaus—helping you build your credit history
  • After 12 months, you may qualify to have your security deposit returned while you continue to use your card
  • Get free access to your FICO® Score from TransUnion, updated monthly.
  • Access to credit education topics like using credit cards responsibly, budgeting and more
  • No annual fee
Balance transfers

A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.

  • Intro Balance Transfer APRN/A
  • Regular Balance Transfer APR22.99% Variable
  • Balance Transfer Fee3%, $10 minimum
How to Transfer a Balance on a Credit Card
Fees
  • Penalty APRN/A
  • Late FeeUp to $40
  • Returned Payment FeeUp to $29
  • Additional Cards Annual FeeN/A
  • Foreign Transaction Fee3%

Co-Branded Airline Credit Cards

Bank of America is partnered with a variety of airlines, and offers co-branded cards for frequent flyers.

Air France KLM

Rewards
  • $100 statement credit + 50,000 bonus miles for spending $2,000 in the first 3 months
  • 5,000 bonus miles every year on your account anniversary after you spend $50 or more within the anniversary year
  • 60 XP upon account approval, 20 XP every year on your account anniversary, and another 40 XP when you spend $15,000 within the anniversary year
  • Earn 3X miles per $1 spent directly on Air France, KLM Royal Dutch Airlines, and SkyTeam member airlines, and 1.5X miles per $1 spent on all other purchases
  • Redeem miles toward flights with any SkyTeam member airline to over 1,000 destinations worldwide
  • View your FICO score any time you'd like at no cost, based on your TransUnion credit report
  • Overdraft protection when you link your Bank of America business checking account
  • No mileage cap on the amount of miles you can earn
  • No foreign transaction fees
  • $89 annual fee
Rewards
Spending Rewards
  • 3X miles per dollar spent directly at:
    • Air France
    • KLM Royal Dutch Airlines
    • SkyTeam member airlines
  • 1.5X miles per dollar spent on all other purchases
Introductory Bonus
  • $100 statement credit + 50,000 bonus miles for spending $2,000 in the first 3 months
Balance transfers

A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.

  • Intro Balance Transfer APRN/A
  • Regular Balance Transfer APR15.99%–23.99% Variable
  • Balance Transfer Fee3%, $10 minimum
How to Transfer a Balance on a Credit Card
Fees
  • Penalty APRUp to 29.99% Variable
  • Late FeeUp to $40
  • Returned Payment FeeUp to $29
  • Additional Cards Annual FeeN/A
  • Foreign Transaction FeeNone

Alaska Airlines

Rewards
  • NEW - 40,000 Bonus Mile + Alaska's Famous Companion Fare™ Offer.
  • Get 40,000 bonus miles and Alaska's Famous Companion Fare from $121 ($99 fare plus taxes and fees from $22) with this offer. To qualify, make purchases of $2,000 or more within the first 90 days of opening your account.
  • Save with a free checked bag on Alaska flights for you and up to six other guests on the same reservation.
  • Get Alaska's Famous Companion Fare™ every year! EACH YEAR on your account anniversary get a companion fare from $121 ($99 plus taxes and fees from $22). Valid on all Alaska flights booked on alaskaair.com.
  • Earn 3 miles for every $1 spent on eligible Alaska Airlines purchases and 1 mile for every $1 spent on all other purchases.
  • Get exclusive access to discounted redemption levels when you redeem miles for hotel stays at over 400,000 properties using Alaska Airlines Hotels.
  • Earn unlimited miles and travel with no blackout dates and no foreign transaction fees.
Rewards
Spending Rewards
  • 3X miles per dollar spent on Alaska Airlines & Virgin America purchases
  • 1X mile per dollar spent on all other purchases
Introductory Bonus
  • 40,000 bonus miles and a Companion Fare for spending $2,000 in the first 90 days
Balance transfers

A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.

  • Intro Balance Transfer APRN/A
  • Regular Balance Transfer APR15.99%–23.99% Variable
  • Balance Transfer Fee3%, $10 minimum
How to Transfer a Balance on a Credit Card
Fees
  • Penalty APRUp to 29.99% Variable
  • Late FeeUp to $40
  • Returned Payment FeeUp to $29
  • Additional Cards Annual FeeN/A
  • Foreign Transaction FeeNone

Allegiant Air

Rewards
  • 15,000 bonus points after spending $1,000 within the first 90 days of account opening
  • 3X points per $1 on Allegiant purchases, 2X points per $1 on qualifying dining purchases, and 1X point per $1 on all other purchases
  • Complimentary priority boarding and one free beverage every time you fly Allegiant
  • Buy one, get one free airfare whenever you use your card to purchase an eligible vacation package from Allegiant
  • View your FICO score any time you'd like at no cost, based on your TransUnion credit report
  • Overdraft protection when you link your Bank of America checking account
  • No blackout dates, no destination restrictions, no minimum point redemptions
  • No foreign transaction fee
  • $59 annual fee
Rewards
  • 3X points per dollar on Allegiant purchases
  • 2X points per dollar on Dining
  • 1X point per dollar for all other purchases
Introductory Bonus
  • 15,000 bonus points after spending $1,000 within the first 90 days of account opening
Balance transfers

A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.

  • Intro Balance Transfer APRN/A
  • Regular Balance Transfer APR15.99%–23.99% Variable
  • Balance Transfer Fee3%, $10 minimum
How to Transfer a Balance on a Credit Card
Fees
Источник: https://www.creditcardinsider.com/credit-cards/bank-of-america/

Comparing the best Bank of America credit cards

The information for the Air France KLM World Elite and Free Spirit Travel More cards has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Best Bank of America credit cards

Bank of America Customized Cash Rewards credit card

Annual fee: $0.

Sign-up bonus: $200 after you spend $1,000 on purchases in the first 90 days of account opening.

Earning rate: 3% cash back in the category of your choice each month (gas, online shopping, dining, travel, drug stores or home improvement and furnishings), 2% at grocery stores and wholesale clubs (on up to $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then 1%) and 1% on everything else.

Why you should apply: The Bank of America Customized Cash Rewards card is one of the only credit cards that allows you to essentially customize your rewards structure to fit your changing spending habits throughout the year — with the chance to change categories every month. This is especially valuable right now, as many people continue to shift their spending habits away from gas and travel to online shopping and takeout, thanks to the ongoing pandemic. This card will give you the freedom to change your rewards every month to maximize your spending, and then revert back to other spending categories once you are traveling and going to work again.

Related: Credit cards we’re using most during the pandemic

Bank of America Travel Rewards credit card

Annual fee: $0.

Sign-up bonus: 25,000 points after you spend $1,000 in purchases in the first 90 days of account opening — which can be redeemed for a $250 statement credit toward travel purchases.

Earning rate: 1.5x on all purchases.

Why you should apply: This card operates similarly to the Capital One Venture Rewards Credit Card. You’re earning flat-rate rewards across all spending, and then you can use those rewards as a statement credit to erase eligible travel purchases.

Although this certainly isn’t the most lucrative or flexible rewards card, it is perfect for low-budget beginner travelers who want a card with no annual fee and a simple way to earn and redeem points.

Bank of America Premium Rewards credit card

Annual fee: $95.

Sign-up bonus: 50,000 points (a $500 value) after you spend $3,000 in purchases in the first 90 days of account opening.

Earning rate: 2x on travel and dining, and 1.5x on all other purchases. 

Why you should apply: For bank of america corporate credit card a low annual fee, this Bank of America card packs a punch. You’ll get $500 in value out of the sign-up bonus, and you’ll get perks such as an up-to-$100 annual airline incidental statement credit and an up-to-$100 credit that can be applied toward the Global Entry or TSA PreCheck enrollment fee every four years.

It also comes with travel insurance protections including trip delay/cancellation/interruption insurance, baggage delay/loss insurance, emergency evacuation and transportation insurance, and rental car insurance — perks that normally come with more premium cards.

The Premium Rewards card is a bit more flexible than Bank of America’s other branded credit cards because you can redeem your rewards for travel, cash back or even deposit into a linked Bank of America or Merrill account. Plus, the fact that you earn 1.5x on non-bonus spending means this is a good card for everyday purchases.

However, you can boost your return by as much as 75% through Bank of America’s Preferred Rewards program. To participate, you’ll need an eligible Bank of America checking account and an average daily balance of at least $20,000 in qualifying deposit or investment accounts. The largest bonus is available to customers with a balance of $100,000 or more — at that level, you’ll earn 3.5 points per dollar on dining and travel, and an impressive 2.62 points per dollar on non-bonus spending.

If you already have high-value accounts with Bank of America, then getting this card is a no-brainer. If not, establishing a new banking relationship — like The Points Guy, Brian Kelly, did — may be a profitable move.

Related: The 5 credit cards The Points Guy is using the most in 2020

Best Bank of America airline credit cards

Alaska Airlines Visa Signature credit card

Annual fee: $75.

Sign-up bonus: 40,000 bonus miles and Alaska’s Famous Companion Fare from $121 ($99 fare plus taxes and fees from $22) after you make $2,000 or more in purchases within the first 90 days of opening your account.

Earning rate: 3x on eligible Alaska Airlines purchases and 1x on other purchases.

Why you should apply: Alaska miles open up some exciting redemption options. TPG values Alaska miles at 1.8 cents each thanks to an incredible partner award chart, making the sign-up bonus worth $720. The card also comes with a companion fare, which will give your companion traveling on the same itinerary a free coach ticket on Alaska-operated flights from $121 ($99 fare plus taxes and fees from $22), among other perks like discounts on inflight purchases and lounge passes. Alaska miles are even more valuable now that Alaska has joined Oneworld and American Airlines and Alaska have launched reciprocal mileage earning.

Related: I flew Alaska on its first day in Oneworld: Here’s what it was like as an American Airlines elite

Air France KLM World Elite Mastercard

AIRPORT ORLY, PARIS, FRANCE - 2018/02/18: AirFrance Airbus 319 seen at Paris Orly airport. (Photo by Fabrizio Gandolfo/SOPA Images/LightRocket via Getty Images)

Annual fee: $89.

Sign-up bonus: For a limited time, you can earn 50,000 miles and a $100 statement credit after you spend $2,000 within the first 90 days of account opening.

Earning rate: 3x on Air France, KLM and purchases with SkyTeam member airlines, and 1.5x on everything else.

Why you should apply: Earning Flying Blue miles isn’t difficult with the multiple airlines which are part of the program (plus credit cards and other airlines as transfer partners), but this card can help you top off your account. If you fly with airlines bank of america corporate credit card earn Flying Blue miles frequently, it’s worth taking a look at this card to help you boost your miles balance.

Related: The ultimate guide to earning and redeeming with Air France-KLM Flying Blue

Free Spirit Travel More World Elite Mastercard

A Spirit Airlines Inc. plane sits on the tarmac at Fort Lauderdale International Airport (FLL) in Fort Lauderdale, Florida, U.S., on Friday, June 2, 2017. Revenue generated from the U.S. accounts for nearly 90 percent of Spirit's revenue. Photographer: Saul Martinez/Bloomberg via Getty Images

Annual fee: $79, waived the first year.

Sign-up bonus: 40,000 bonus points plus a $100 Companion Flight Voucher after making at least $1,000 in purchases within the first 90 days of account opening.

Earning rate: 3x on eligible Spirit purchases, 2x on eligible dining and grocery store purchases, and 1x on all other purchases.

Why you should apply: Spirit is an ultra-low-cost carrier with a no-frills approach to flying. While it won’t be winning any TPG awards for the best premium flight experiences, budget travelers can take advantage of its low prices on both cash and award flights (redemptions start at only 2,500 miles with Spirit’s revamp of its loyalty program, Free Spirit). This card offers a solid way to rack up miles for this airline and an easy-to-hit welcome bonus.

Related: Hear us out: Why Spirit gives Delta a run for its money in our head-to-head comparison

Best Bank of America business credit cards

Bank of America Business Advantage Customized Cash Rewards Mastercard

Annual fee: $0.

Sign-up bonus: $300 statement credit after you spend $3,000 on purchases in the first 90 days of account opening.

Earning rate: 3% cash back in the business category of your choice and 2% on dining (on the first $50,000 in combined choice category/dining purchases each calendar year, then 1%), and 1% on all other purchases.

Why you should apply: Just like the personal version of this card, the Bank of America Business Advantage Customized Cash Rewards Mastercard allows you customize your rewards structure to fit your needs. The available bank of america corporate credit card bonus categories include gas stations, office supply stores, travel, TV/telecom and wireless services, computer services and business consulting services. For those with business credit cards who need the flexibility to switch the 3% cash-back category each month, this is a one-of-a-kind option.

Bank of America Business Advantage Travel Rewards World Mastercard

Annual fee: $0.

Sign-up bonus: 30,000 points after you spend $3,000 on purchases in the first 90 days of account opening — which can be redeemed for a $300 statement credit toward travel or dining-related purchases.

Earning rate: 3x on travel booked through Bank of America Travel Center and 1.5x on all other purchases.

Why you should apply: For a no-annual-fee card, it has quite a lucrative earning potential — especially if you tend to book travel through a third-party platform such as Expedia. If you also qualify for the Bank of America Preferred Rewards program (more on that below), you could earn up to 25-75% more rewards, or an up to 3.75-5.25x rate on travel purchases. That earning rate beats the rates of plenty of top business credit cards on the market, and you don’t even have to pay an annual fee to take advantage of it.

How we chose the best Bank of America credit cards

After looking at Bank of America’s credit card lineup, we studied the cards’ pros and cons. We evaluated each card type and each card’s details. Bank of America cards can be broken down into three categories: Bank of America-branded cards, airline cards and business cards.

Bank of America’s branded cards are the issuer’s primary cards that can take advantage of the Preferred Rewards program. Airline cards are cobranded options for flyers loyal to certain airline programs. Business cards are similar to Bank of America’s consumer options but use a separate Preferred Rewards program.

When looking at each card within their respective categories, we evaluated the sign-up bonus, rewards, perks, redemption and annual fees before choosing which ones are worth looking at.

Bank of America application restrictions

Although not nearly as restrictive as Chase’s infamous 5/24 rule, Bank of America has its own system in place to limit the number of new accounts for which you can be approved, often referred to as the 2/3/4 rule. You can only be approved for:

  • Two cards in a rolling two-month period.
  • Three cards in a rolling 12-month period.
  • Four bank of america corporate credit card in a rolling 24-month period.

Note that this doesn’t apply to business cards issued by Bank of America, and also doesn’t count cards issued to you by another bank. If you max out all five of your slots with Chase, you shouldn’t have a problem turning around and applying for an offer like the 40,000 miles and Alaska’s Famous Companion Fare from $121 ($99 plus taxes and fees from $22) after you spend $2,000 on purchases in the first 90 days of account opening on the Alaska Airlines Visa Signature credit card.

However, there are reports of Bank of America adding restrictions to card application approvals that mirror Chase’s 5/24 rule. Although the exact threshold is unconfirmed, opening too many cards over the course of a year (across all issuers) could mean your Bank of America application is denied. Of course, you’re less likely to be denied if you have an existing customer relationship with the bank.

You should also know that you can’t be approved for a second version of the same card within 90 days of your first application, which means you can’t double-dip this elevated Alaska bonus to try and score a Cathay Pacific first-class award solely through sign-up bonuses.

Maximizing Bank of America Preferred Rewards

It’s no secret that Bank of America favors cardholders with whom it has banking relationships. This is less than ideal for anyone who keeps their money with other banks, but you can take advantage of a number of perks and benefits if you are a Bank of America customer who qualifies for the Preferred Rewards program. You can read all about the program here, but to qualify you’ll need:

  • An eligible Bank of America personal checking account.
  • A three-month average combined balance of $20,000 or more in a Bank of America account and/or Merrill investment accounts.

If you meet these requirements, your earning rates become significantly higher.

If you qualify for Platinum Honors, you’ll be earning 3.5x on dining and travel, plus 2.62x on all other purchases with the Bank of America Premium Rewards card. A 2.62% return makes that card one of the best options for non-bonus everyday spending.

If you aren’t currently banking with Bank of America, it might be worth moving some money over, like The Points Guy himself did when the Premium Rewards card launched. TPG’s Richard Kerr has also said for a long time that Bank of America Preferred Rewards is not a program to be ignored. Fixed-value cards get a little more appealing every time an airline devalues its award chart or restricts premium-cabin redemptions, and when you combine the above-average earning rates with the fact that you get “paid” $5 a year to keep the Premium Rewards card open, it begins to look very appealing.

The good news for those who currently have Preferred Rewards status is that you don’t have to worry about maintaining your balance right now. Bank of America recently sent out email updates to Preferred Rewards members stating that they’ve temporarily suspended their annual program review process. This means anyone with status right now should continue to receive the same level of benefits, even if you drop below the minimum balance requirement. They are still allowing people to qualify for tiers, though.

Bottom line

Uncovering the value of Bank of America’s credit cards takes a little more work than with other issuers. But between high-value cash back on everyday spending and one of the only cobranded credit cards worth consistently spending on, there’s too much here to simply ignore. At the very least, everyone should take a hard look at the Premium Rewards card and Alaska Airlines Visa Signature card. You might find that one of these cards has a worthwhile place in your wallet.

For additional reading, check out our picks for the best credit cards.

Additional reporting by Stella Shon.

Featured photo by John Gribben/The Points Guy.

Updated on 11/3/21.

Источник: https://thepointsguy.com/credit-cards/bank-of-america/
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