August 14, 2022

Bank of America Platinum Plus for Business MasterCard Review

Comparisons With Other Cards

Annual fee: Neither card charges an annual fee.

Rewards: The Bank of America® Platinum Plus® Mastercard® Business card does not offer a rewards program. The Capital One Spark Classic for Business card offers a flat 1% cash back on all purchases with no caps.

Sign-up bonus: With the Bank of America® Platinum Plus® Mastercard® Business card, new cardholders receive a $300 statement credit sign-up bonus when you spend $3,000 in net purchases within 90 days of opening an account. The Capital One Spark Classic for Business card does not offer a sign-up bonus.

Benefits: The Bank of America® Platinum Plus® Mastercard® Business card provides a variety of valuable benefits, including unlimited employee cards at no additional cost, travel and emergency assistance, and overdraft protection to prevent declined purchases or returned checks if you link your card to a Bank of America business checking account. With the Capital One Spark Classic for Business card, you receive useful benefits, including employee cards at no additional cost, no foreign transaction fees, an auto rental collision damage waiver, purchase protection, extended warranty coverage on purchases with the card, and travel and emergency assistance.

Annual fee: Neither card charges an annual fee.

Rewards: No rewards program is offered with the Bank of America® Platinum Plus® Mastercard® Business card. With the Ink Business Cash Credit Card, you earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellphone, landline, internet and cable TV services annually. You earn 2% cash back on the first $25,000 of total annual purchases at gas stations and restaurants, and 1% per dollar for all other purchases.

Sign-up bonus: The Bank of America® Platinum Plus® Mastercard® Business card offers new cardholders a $300 statement credit sign-up bonus when you spend $3,000 in net purchases within 90 days of opening an account. You can earn a $750 cash back sign-up bonus with the Ink Business Cash Credit Card by spending $7,500 on purchases in the first 3 months from account opening.

Benefits: The Bank of America® Platinum Plus® Mastercard® Business card gives you access to numerous benefits, including unlimited employee cards at no additional cost, travel and emergency assistance and overdraft coverage if you link your card to a Bank of America business checking account. The Ink Business Cash Credit Card offers benefits including purchase protection, extended warranty coverage, an auto rental collision damage waiver, and travel and emergency assistance services.

What Is the Bank of America® Platinum Plus® Mastercard® Business card’s APR?

The card has an APR of 10.24% to 21.24% APR, based on your personal or your business’s creditworthiness.

Should You Get the Bank of America® Platinum Plus® Mastercard® Business Credit Card?

  • You want a business card with a low APR.
  • You don’t need a rewards program.

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