The Bank of America® Business Advantage Cash Rewards Mastercard® credit card is an exceptionally good small business credit card. You get to pick from one of six business-related categories where you'll earn 3% cash back each month, tailoring your rewards to your spending habits.
The Bank of America® Customized Cash Rewards credit card is a solid choice if you spend a lot in at least one of the card's 3% bonus categories and like having the option of switching back and forth, or you spend a lot at grocery stores and wholesale clubs, where you'll get 2% back.
You need a credit score of at least 750 to get a Bank of America business credit card, which is excellent credit.
Best Bank of America Business Credit Cards
Your Bank of America credit card approval odds are best if you have a credit score of 750 or higher. Most Bank of America credit cards require excellent credit for approval. ... If you're in college, there's a very good chance you'll be approved for one of the Bank of America student cards.
Eight steps to establishing your business credit
Currently, the Bank of America® Customized Cash Rewards Secured credit card offers the highest maximum credit limit, $4,900, although the limit can be as small as $300. The bank may set an initial credit limit based on your income and your ability to pay.
Once you have paid on time for several months, you will be eligible for credit limit increases. The issuer may automatically raise your credit limit after reviewing your account, usually in 6 to 12 month intervals.
Pre-qualification doesn't affect your credit at all since it uses a soft inquiry. But if you want to apply for a card, Bank of America will do a hard inquiry, which will cause a temporary score dip. This decrease is easily fixed with a few months of responsible card use, though.
Best credit cards if your FICO score is 600 to 649 overview
| Credit Card | Best For |
|---|---|
| Capital One Platinum Credit Card | Rebuilding credit |
| Secured Mastercard® from Capital One | The lower end of fair credit |
| OpenSky® Secured Visa® Credit Card | Those with little to no credit |
| Discover it® Secured | Cashback rewards AND building credit |
Each time we provide your FICO® Score, it's based on the information in your TransUnion® credit report at that point in time. As the information in your credit report changes, your FICO® Score may also change and we provide it monthly so you can view it over time in the FICO® Score History Chart.
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